Tesla (stock ticker: TSLA) is expected to release delivery numbers for the first quarter over the weekend. According to 10 estimates compiled by FactSet, Wall Street expects the electric car company to deliver 432,000 units in the first quarter, up from about 405,000 units in the fourth quarter of 2022. In the first quarter of 2022, Tesla delivered about 310,000 vehicles. Tesla stock rose 4.9%.
Nikola (NKLA) was falling after it announced it would sell $100 million of shares at $1.12 a share. The stock fell 11.1% to $1.24 on Friday.
Shares of Bed Bath & Beyond (BBBY) fell 22.7% after falling more than 26% Thursday after the retailer said it expected fourth-quarter revenue to fall short of analyst expectations. BedPath also said it plans to sell up to $300 million in common stock.
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Virgin Orbit Holdings (VORB) fell 33% to about 23 cents after the space startup said it would cut 85% of its workforce. According to one regulatory document, the jobs were cut “in light of the company’s inability to secure meaningful funding.” Virgin Orbit has been trying to secure additional funding since mid-March and has halted some operations while trying to get additional funds.
Pacific Biosciences of California (PACB) jumped 16.4% after shares of the biotech company were upgraded to Outperform from Market Perform by analysts at TD Cowen.
BlackBerry (BB) rose 15.6% after the company said it expects a revenue range of $240 million to $250 million for fiscal 2024. This comes after the company reported fiscal fourth-quarter revenue that was down from a year earlier and missed analyst expectations. The stock was down sharply in pre-market trading.
braze
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BRZE shares rose 11.3% after the technology company said it expects revenue to increase for fiscal 2024 from last year.
Rumble (RUM) rose 6.2% and Digital World Acquisition (DWAC) jumped 6.4%. Shares of right-wing social media platforms rose in the wake of the impeachment of former US President Donald Trump.
Generac Holdings (GNRC) stock fell 3.8% after the backup power provider received a downgrade to Underperform from Neutral from analysts at BofA.
Chip maker Micron Technology
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(MU) fell 2.9% after Chinese regulators said they were launching a review of Micron products sold in the country.
Write to Joe Woelfel at [email protected]
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