Lucid Motors (LCID) stock is sliding after the EV-maker announced another capital raise via a share sale late Wednesday night, as the California-based EV maker seeks further runway ahead of the release of its upcoming EV SUV.Lucid said it will offer up to 262,446,931 shares, with the proceeds likely raising around $1.67 billion, for general corporate purposes as well as for capital expenditures and working capital.The company also said its majority shareholder, Public Investment Fund affiliate Ayar Third Investment Company, would purchase an additional 374,717,927 shares via a private placement, which would allow Ayar to maintain its 58.8% stake without…
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Avishek Das | Lightrocket | Getty ImagesFBI agents on Thursday morning arrested a 25-year-old Alabama man on charges related to the hack in January of the Securities and Exchange Commission’s X account, which led to the price of bitcoin spiking by more than $1,000, the Department of Justice announced.The man, Eric Council Jr., is charged with conspiracy to commit aggravated identity theft and access device fraud, the DOJ said. The Athens resident is expected to appear later Thursday in U.S. District Court for the Northern District of Alabama.Council is accused of conspiring with others to hack the SEC’s account and…
Deutsche Bank adjusted its stance on RS Group Plc (RS1:LN), downgrading the stock from ‘Buy’ to ‘Hold’ and reducing the price target to £8.30 from the previous £9.50. The revision follows observations of the company’s third-quarter performance, which showed mixed regional results and consistently subdued demand. The bank’s analysis highlighted a disparity in industry sectors, noting that while Fastenal (NASDAQ:) reported a modest increase in daily sales, there was a significant decline in reseller performance and a contrasting strength in safety sales. This mix is seen as unfavorable for RS Group, which has less involvement in the stronger-performing safety sector.…
On Thursday, Citi maintained its Buy rating on ServiceNow (NYSE: NYSE:), while increasing the stock’s price target to $1,068 from $915. The adjustment reflects the firm’s confidence in ServiceNow’s ability to navigate through an uncertain IT budget landscape. Citi’s analysis suggests that ServiceNow’s core business remains strong and is likely to benefit from the additional high-return opportunities presented by its GenAI upsell. The firm’s recent fieldwork indicates solid demand for ServiceNow’s GenAI/Pro Plus offerings and a decrease in concerns regarding delayed deals. Although ServiceNow’s stock has seen a significant 26% increase since the last earnings report, Citi acknowledges that the…
Patient Capital Management, a value investing firm, released its “Patient Capital Opportunity Equity Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. During the quarter, the strategy returned 5.58% net of fees compared to the S&P 500’s 5.89% return. According to a three-factor performance attribution model, allocation and selection effects contributed positively to the portfolio’s performance while interaction effects contributed negatively. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.Patient Capital Management highlighted stocks like Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) in the third quarter 2024 investor…
In September, a man who purchased a stolen 2023 Dodge Challenger Demon 170 for a mere $20,000. The vehicle, with only 61 miles on the odometer, was a brand new Demon 170 finished in blue. Unfortunately, thieves had dismantled the car, leaving the chassis in pieces and many components missing. Despite the setback, the man managed to recover the supercharger V8 engine and transmission from the police. Faced with a nearly unusable car, the owner decided to build a Demon 170 knockoff from scratch. He purchased a stolen Challenger with a solid chassis and began assembling the Demon drivetrain into…
SHREVEPORT, La. (Oct. 17, 2024) — Rapper Curtis “50 Cent” Jackson, who has invested $2.3 million into Shreveport, met with Gov. Jeff Landry and Shreveport Source link
With interest rates likely headed lower over the next few years as the Fed embarks on a rate-cutting cycle, income-oriented investors may be looking for places to invest that can offer higher yields and attractive returns. One such option is an investment in pipeline operator Energy Transfer (NYSE: ET).The company owns one of the largest integrated midstream systems in the U.S., where it transports hydrocarbons (natural gas, natural gas liquids, and crude) and performs other services across the midstream value chain, such as storage, gathering, processing, and fractionation, among others.Let’s look at three reasons to buy Energy Transfer stock like…
American Honda Motor has issued a massive safety recall affecting nearly 1.7 million vehicles in the United States. The recall centers around a faulty steering gearbox manufactured by Hitachi Astemo Americas. The supplier is a joint venture between Honda and Hitachi, with Hitachi holding a majority stake. According to documents filed with the National Highway Traffic Safety Administration, the steering gearbox worm wheel may swell over time, leading to reduced grease film thickness and increased friction between the wheel and gear. Additionally, the worm gear spring preload was set too high, further exacerbating the issue. Massive Honda Recall: 1.7 Million…
TYSONS, Va.–(BUSINESS WIRE)–Maximus (NYSE: MMS), a leading provider of government services worldwide, will issue a press release with its financial results for the three months and year ended September 30, 2024, after market close on Wednesday, November 20, and will host a conference call the following day at 9:00 a.m. ET on Thursday, November 21. Shareholders are invited to submit questions for management’s consideration by emailing IR@maximus.com up to one hour prior to the call. The call is open to the public and available by webcast or by phone at: 877.407.8289 (Domestic) / +1.201.689.8341 (International) For those unable to listen…