– Shares of the vacation rental company jumped 3% after the company reported better-than-expected quarterly revenue. The company reported first-quarter revenue of $887 million, topping a Refinitiv projection of $714 million. While Airbnb still reported a net loss for the quarter, it also showed year-over-year improvement in a key earnings metric. Wells Fargo upgraded the stock to overweight from equal weight following the earnings report.
Snowflake The software company s shares popped more than 8% after Goldman Sachs upgraded it to buy from neutral, saying the world was still in the relatively early innings of the shift to the cloud, giving Snowflake significant upside.
Churchill Downs Shares of the casino and gaming company jumped more than 4% after Jefferies upgraded the stock to buy from hold. The firm said that Churchill Downs was poised for growth in multiple parts of its business and that the stock s recent weakness was not tied to fundamentals.
Fisker Shares Rise 6% on EV Partnership With Foxconn
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Fisker and Foxconn sign framework agreements for Project PEAR; new FP28 platform
Fisker Inc. has signed framework agreements with Hon Hai Technology Group (Foxconn) supporting joint development and manufacturing related to Project PEAR (Personal Electric Automotive Revolution), a program to develop a new breakthrough electric vehicle. (Earlier post.)
Under the agreements, Fisker and Foxconn will jointly invest into Project PEAR, with each company taking proceeds from the successful delivery of the program. Fisker will work with Foxconn on a new lightweight platform designated FP28, leveraging technological expertise from each company to support Project PEAR and potential future vehicles.
In order to deliver on our promise of product breakthroughs from Project PEAR, we needed to rethink every aspect of product development, sourcing, and manufacturing. Our partnership with Foxconn enables us to deliver those industry firsts at a price point that truly opens up electric mobility to t
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Breakthrough new segment vehicle to be jointly developed and sold under the Fisker brand into global markets including North America, Europe, China, and India.
Manufacturing to commence first in the United States with several locations under consideration by Fisker and Foxconn. Other global manufacturing sites under study for future production, supporting projected annual volumes of more than 250,000 units across multiple sites.
Program milestones already achieved including exterior design freeze. Program critical sourcing underway, including securing chipset and semiconductor contracts through Foxconn.
Project PEAR will enter the market with a starting price of less than $30,000, before incentives.
Fisker Inc. (NYSE:FSR) (Fisker) – passionate creator of the world s most sustainable electric vehicles and advanced mobility solutions – today announced it has signed framework agreements with Hon Hai Technology Group (TWSE:2317) (Foxconn) supporting joint development
Yageo, Hon Hai to Form Semiconductor Joint Venture, XSemi
Yageo Group and Hon Hai Technology Group announced to enter into a joint venture agreement to form XSemi Corporation. The goal of this newly established joint venture is to extend the businesses into the semiconductor industry, including product development and sales. In the future, XSemi will be based in Hsinchu, Taiwan and consolidate the strengths and resources of the two market leaders, in addition to the upcoming multifaceted collaborations with leading semiconductor companies in product design, process and capacity planning, and sales channel. XSemi will create a complete semiconductor supply chain and provide customers total solution services with high-quality products and stable supplies.
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