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Nio Inc – Announced plans for 3 new models next year during its quarterly report, China’s biggest EV maker reported better-than-expected second-quarter earnings and also gave upbeat revenue guidance as the Chinese EV startup and its domestic rivals ramp up on challenging Tesla in Europe. In Q2, Nio delivered 21,896 luxury electric SUVs, a 112% increase year over year and near the top end of its 21,000-22,000 guidance. Posted a 3 cent/share loss vs expectations of a $.09/share loss, revenue also soared 145% to $1.31 billion beating estimates.
Palantir Technologies – The tech billionaire Peter Thiel-backed data analytics firm reported a 49% rise in quarterly revenue, posting more software contracts with corporations and government agencies. Revenue surged to $376 million in the second. US commercial revenue grew 90% year-over-year as the company closed 62 deals of $1 million or more, of which: 30 deals are $5 million or more, 21 deals were $10 million or more.
Clover Health Investments – Shares of online health insurance firm are up nearly 15% premarket and set for their best day in more than two months after the one-time “meme stock” posted Q2 revenue that jumped nearly 140% to $412.5 mln, easily surpassing estimates of $205.4 mln, with the increase coming from direct insurance contracts and higher premiums. CLOV reported a Q2 loss of $317.6 mln vs profit of $5.4 mln last year as costs surge, CLOV ticker is back among top trending stocks on trading forum Stocktwits.
Opendoor Technologies – Reported a quarterly adjusted loss of 24 cents per share in its latest quarter beating estimates for a loss of 34 cents per share. Revenue was $1.19 billion; analysts expected $1.09 billion. * Opendoor Technologies Inc’s reported EPS for the quarter was a loss of 24 cents. In the last 30 days there have been no earnings estimate revisions by analysts covering the company. Overall, the company reported a quarterly loss of $143.81 million.
DoorDash Inc – Set to report aftermarket tonight, shares of food delivery firm are gaining premarket on reports the company recently held talks to buy grocery delivery firm Instacart over the past two months for a likely price of between $40 bln and $50 bln. The report goes on to say talks fell apart in recent weeks over possible regulatory concerns.
Micron Technology – Lower premarket on a downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” pointing to a potential “overdue, slowdown” in the memory chip market.
Fisker Inc – Back on watch, sharply lower this morning, the EV maker announced plans to raise capital after the bell yesterday. The company announced a private offering of $600 mln 5-yr convertible notes, of which FSR plans to allocate an amount equal to net offering proceeds to finance “eligible green projects”.
Lordstown Motors Corp – Shares of the EV startup are higher this morning after the company said Wednesday it is in talks to build vehicles for other automakers or lease space in its Ohio factory. Chairwoman Angela Strand said, “We are exploring multiple partnership constructs, including contract manufacturing, that includes licensing” – RIDE said it will begin shipping its Endurance model to select customers in Q1 next year, followed by wider commercial deliveries in Q2. Production will increase in H2 2022 – Strand – The company posted a loss of $108 mln, or 61 cents a share in Q2.
Orphazyme A/S – Shares of the Danish biotech company are higher again premarket as social media message volume nearly tripled on trading-focused social media sites yesterday. About 96% of Stocktwits posts related to ORPH reflect positive sentiment, ORPH shares have surged about 44% over the past two days with trading volumes topping 40 mln on Tuesday, shares of the company tumbled about 50% in June after U.S. health regulators rejected its key drug candidate to treat genetic disorder Niemann-Pick disease type C.
Conifer Holdings – Micro-cap insurance holdings co reported Q2 net written premiums of $28.5 mln topping expectations of $25.8 mln thanks in part to expansion in commercial markets, still, the company reported a larger Q2 loss of 40 cents/share vs expectations of a loss of 14 cents/share.
Powerbridge Technologies Co Ltd – Announced plans to invest and engage in cryptocurrency mining for Bitcoin (BTC) and Ethereum (ETH) with planned operations globally. The Company has assembled a team of industry veterans in cryptocurrency and technology to support the development and growth of its digital asset business.