{"id":69181,"date":"2023-10-05T18:34:54","date_gmt":"2023-10-05T22:34:54","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/rivian-lucid-general-motors-clorox-lamb-weston-blackberry-and-more\/"},"modified":"2023-10-05T18:34:57","modified_gmt":"2023-10-05T22:34:57","slug":"rivian-lucid-general-motors-clorox-lamb-weston-blackberry-and-more","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69181","title":{"rendered":"Rivian, Lucid, General Motors, Clorox, Lamb Weston, BlackBerry, and More"},"content":{"rendered":"
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Markets reversed some losses but still closed lower on Thursday as investors looked to the September jobs report due Friday.\u00a0<\/p>\n

These stocks made moves Thursday:\u00a0<\/p>\n

\n

\n Rivian Automotive
\n (ticker: RIVN) expects third-quarter sales of between $1.29 billion and $1.33 billion, in line with analysts\u2019 estimates, and said it plans to offer $1.5 billion worth of convertible notes. The electric-truck maker said its estimated cash, cash equivalents and short-term investments at the end of the third quarter were $9.1 billion, \u201csufficient to enable us to fund our operations and capital expenditures through 2025.\u201d The stock fell 23%.
\n Lucid Group
\n (LCID), the electric-vehicle start-up, fell 7.2%. The company has begun offering a new cheaper version of its luxury\u00a0Air sedan.<\/p>\n

EV leader
\n Tesla
\n (TSLA) was down 0.5% after closing with a gain of 5.9% on Wednesday. The stock had risen since
\n Tesla
\n earlier this week reported third-quarter deliveries that missed analysts\u2019 consensus estimates. On Thursday, Hyundai announced it would adopt the North American Charging Standard, or Tesla\u2019s charging plug.<\/p>\n

\n General Motors
\n (GM) dropped 2.4% after The Wall Street Journal reported the auto maker has at least 20 million vehicles built with a potentially dangerous air-bag part. <\/p>\n

\n Clorox
\n (CLX) fell 5.2% after cutting its fiscal first-quarter outlook following a cybersecurity attack. It was the worst performer in the
\n S&P 500.<\/span><\/p>\n

Clorox
\n sees a loss of 35 cents to 75 cents a share; on an adjusted basis it expects between a break-even result to a loss of 40 cents a share. Clorox said it sees sales falling by 28% to 23% in the period from a year earlier. The company disclosed the cyberattack in mid-August.<\/p>\n

\n Lamb Weston
\n (LW), the frozen potato company, reported a fiscal first-quarter profit that more than doubled and easily topped Wall Street expectations. The stock jumped 8% and was the best performer in the S&P 500.<\/p>\n

\n Constellation Brands
\n (STZ) raised fiscal-year earnings expectations after reporting second-quarter profit and revenue that beat Wall Street estimates, driven by strength of the Modelo brand. The stock fell 3.3%.<\/p>\n

\n BlackBerry
\n (BB) was down 11% after announcing it would split into two separate businesses,\u00a0and planned to spin off its Internet-of-Things business in an initial public offering. The IPO would be targeted for the first half of the next fiscal year,
\n BlackBerry
\n said.<\/p>\n

\n Exxon Mobil
\n (XOM) declined 2.3% after the energy giant said its third-quarter earnings would get a lift from rising crude oil prices. In a regulatory filing, Exxon said it expects a change in liquids prices to boost profit in the period by between $900 million and $1.3 billion. A change in gas prices would add between $200 million and $400 million. Thinner margins at its chemicals business would reduce profit by $400 million to $600 million.<\/p>\n

\n Carrier Global
\n (CARR), a maker of HVAC products and other equipment, was downgraded to Underperform from Neutral at
\n BofA
\n and the price target was slashed to $55 from $62. The stock fell 2% to $53.50.<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Markets reversed some losses but still closed lower on Thursday as investors looked to the September jobs report due Friday.\u00a0 These stocks made moves Thursday:\u00a0 Rivian Automotive (ticker: RIVN) expects third-quarter sales of between $1.29 billion and $1.33 billion, in line with analysts\u2019 estimates, and said it plans to offer $1.5 billion worth of convertible […]<\/p>\n","protected":false},"author":1,"featured_media":68952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-69181","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRivian, Lucid, General Motors, Clorox, Lamb Weston, BlackBerry, and More | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Markets reversed some losses but still closed lower on Thursday as investors looked 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