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RIVN.NQ -8.60%
Rivian Automotive Inc – Said its supply-chain issues could cut its planned production by half to 25,000 vehicles in 2022. The company said as of March 8, it had built 1,410 vehicles this year, and 2,425 since the start of production. RIVN reported a Q4 net loss of $2.46 bln much wider than estimates of $1.62 bln – Refinitiv

DOCU.NQ -16.39%
DocuSign Inc – The E-signature vendor’s shares are lower after it forecast FY total revenue of $2.47 bln to $2.48 bln, below estimates of $2.61 bln, per Refinitiv data. DOCU also forecast Q1 revenue of $579 mln to $583 mln vs. estimates of $594.4 mln. The company reported profits of 48 cents per share, 11 cents higher than the same quarter last year when the company reported EPS of 37 cents. Profits of 47 cents per share were anticipated by the eighteen analysts providing estimates for the quarter. Wall Street expected results to range from 44 cents to 53 cents per share.

ORCL.NY -0.98%
Oracle Corp – Forecast fourth-quarter profit above Wall Street estimates as the legacy software firm expects its heavy cloud investments to pay off, as more businesses ramp up their spending to support hybrid work and transition to cloud. Excluding items, it earned $1.13 per share for the quarter ended Feb. 28, missing analysts’ estimates of $1.18. Revenue was at $10.51 billion, in line with estimates. Oracle said its third-quarter operating expenses were up as the company invested aggressively to meet customer demand.

TSLA.NQ 1.49%
Tesla Inc – Higher in early trading as CEO Elon Musk said he wants to make cheaper batteries – fast. But the Tesla chief executive is unlikely to hit ambitious targets for Tesla to mass-produce its own new batteries this year, industry insiders and analysts say. Though Musk is known for doing the impossible, starting with turning the electric vehicle maker into the world’s most valuable auto company, the challenges of launching a new factory and developing a new way of battery manufacturing, are likely to be too much.

UBER.NY 2.63%
Uber Technologies – Higher after Deutsche Bank initiated coverage with a “buy” rating and a $50 price target.

CHIP.STOCKS 2.20%
Chip Stocks – Showing early strength as a group after trading lower with the market yesterday, Applied Materials Inc announced it has approved a $6B share repurchase authorization (5.2% of market cap); raises quarterly dividend 8.3% to $0.26 from $0.24. AMAT, AMD, NVDA, INTC, MU

TRAVEL.STOCKS 2.78%
Travel Stocks – Showing strength as a group in early trading as oil prices ease from recent highs, some airlines have started oil hedges that will help partially offset the price increase, but other carriers remain fully unhedged, including U.S. majors United Airlines, American Airlines and Delta Air Lines, though the latter does own an oil refinery. UAL, AAL, DAL, LUV, SAVE, CCL, RCL, NCLH

EXN.AM 85.71%
Excellon Resources – Provided an update on the continuing review of high-grade gold opportunities from historical exploration of the Kilgore project in Idaho.

CLSD.NQ 25.93%
Clearside Biomed – Reported a surprise profit vs. a year ago loss in its latest quarter.

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