Latest news with #Nikola
Yahoo
29-06-2025
- Automotive
- Yahoo
5 Must-Read Analyst Questions From Lucid's Q1 Earnings Call
Lucid's first quarter results were met with a negative market reaction following a modest revenue shortfall versus analyst expectations. Management attributed the quarter's performance to a 58% year-over-year increase in vehicle deliveries, driven by expanding demand for the Lucid Air and the initial ramp of the Gravity SUV. Interim CEO Marc Winterhoff cited ongoing operational improvements, including resolving temporary delivery bottlenecks in Saudi Arabia and advancing U.S. manufacturing capabilities with the acquisition of Nikola's Arizona assets. Management also acknowledged lingering supply chain complexities and heightened tariff-related uncertainty, especially concerning rare earth materials. Is now the time to buy LCID? Find out in our full research report (it's free). Revenue: $235 million vs analyst estimates of $237.1 million (36.1% year-on-year growth, 0.9% miss) Adjusted EPS: -$0.20 vs analyst estimates of -$0.23 (14.6% beat) Adjusted EBITDA: -$563.5 million vs analyst estimates of -$552.2 million (-240% margin, 2% miss) Operating Margin: -294%, up from -423% in the same quarter last year Sales Volumes rose 58.1% year on year (39.9% in the same quarter last year) Market Capitalization: $6.71 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Stephen Gengaro (Stifel): Asked about Gravity order trends and test drive availability; CEO Marc Winterhoff reported continued strong demand, with test drive vehicles rolling out to more studios as technical issues are resolved. Andres Sheppard (Cantor Fitzgerald): Inquired about the production mix between Air and Gravity for the year; management reiterated expectations that Gravity will represent the bulk of incremental growth, with higher average selling prices anticipated in the second half. David Sunderland (Baird): Asked for detail on the KAUST partnership; Winterhoff highlighted the value of asset-light access to AI supercomputing resources, with minimal financial commitment and significant R&D benefit. Tobias Beith (Redburn Atlantic): Questioned whether supply chain adjustments would delay the mid-sized platform; Winterhoff clarified that the company is prioritizing the midsize timeline and not diverting resources from its development. Stephen Gengaro (Stifel): Requested insight into the path toward breakeven margins; CFO Boussaid replied that scale from Gravity and, eventually, the mid-sized platform are key to margin improvement, though no specific breakeven timeline was provided. Over the coming quarters, our team will watch for (1) the pace and reliability of Gravity SUV production and deliveries, (2) how effectively Lucid manages tariff-induced cost pressures and supply chain shifts, and (3) progress on technology licensing and OEM partnership deals. Developments in the mid-sized platform and success in capital deployment will also be critical for sustained momentum. Lucid currently trades at $2.19, down from $2.32 just before the earnings. Is there an opportunity in the stock?Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Korea Herald
20-06-2025
- Entertainment
- Korea Herald
Hungarian musical 'Nikola Tesla' opens 19th Daegu International Musical Festival
DIMF to feature 30 productions until July 7 DAEGU — The 19th edition of the Daegu International Musical Festival, Korea's premier celebration of musical theater, opened Friday with the Hungarian production 'Nikola Tesla: Infinite Energy.' At a press conference held before the musical's first of ten performances at the Daegu Opera House, running through June 28, communication required double translation: from Hungarian to English, and then from English to Korean. It was a symbolic moment, highlighting the rarity and significance of such cross-cultural encounters and mutual exposure. 'This is precisely the role of DIMF, introducing well-made productions from unfamiliar territories,' said Bae Sung-hyuck, executive director of the DIMF. Last year, DIMF opened with the French production 'Holiday' and 'Flying Apsaras,' a Chinese production took home the grand prize. This year's festival features a total of 30 productions from six countries, including Hungary, France, Japan, Taiwan and China. Tibor Vona, executive director of TBG Production, introduced 'Nikola Tesla: Infinite Energy,' which was built upon more than 2,500 pages of research on the scientist. His groundbreaking contributions to modern electrical engineering are echoed in the names of two Nasdaq-listed companies: electric vehicle maker Tesla and electric truck manufacturer Nikola. Gergo Mikola, who plays Tesla, said, 'The production both provokes thoughts and touch hearts. It isn't called infinite energy for no reason — we have amazing choreography.' 'I'm curious about how this production will be perceived by the Korean audiences,' said Nikolett Furedi, who takes dual roles as Duka Tesla in the first act, the scientist's mother, and Sarah Bernhardt in the second. The two-hour musical uses state-of-the-art stage technology to immerse audiences in the pivotal chapters of Tesla's life — from his birthplace in Smiljan, a village in Croatia to cities like Prague, Budapest, Paris, New York and Niagara Falls. This year's DIMF takes place across Daegu from Friday to July 7. Launched in 2006 as part of Daegu City's initiative to establish itself as a hub for musical theater, DIMF has grown into Korea's only global musical festival. In particular, the festival's support program for original musicals has consistently led to tangible outcomes and successes. This year, five new original musicals will be unveiled. Each was selected through DIMF's Original Musical Support Program, which evaluates scripts and music to support stage production. The program has discovered 82 new works over the past 18 years. The festival also nurtures emerging talent through the DIMF College Musical Festival, offering student performers a chance to shine on stage. Now in its 10th year, the DIMF Musical Academy continues to cultivate the next generation of theater professionals through a monthslong intensive program, training aspiring playwrights, composers and actors for careers in musical theater. The festival's closing production is the Chinese musical "Panda," a Korean-Chinese co-production by Songlei Musical Production. Since its premiere in 2022 at the Panda Theater, located within the Chengdu Research Base of Giant Panda Breeding in Sichuan Province, China, the show has been performed over 1,000 times. The festival will conclude July 7 with the DIMF Awards, celebrating the festival's best performances.
Int'l Business Times
17-06-2025
- Business
- Int'l Business Times
Americans Lose Out on Over a Billion Dollars Thanks to Trump's Pardons: House Democrats Report
A report by Democrats on the House Judiciary Committee found that President Donald Trump's executive pardons have come with a price tag estimated to be over $1.3 billion. In just the first five months of his second term, Trump has issued nearly 1,600 pardons, including a blanket pardon for most January 6 defendants and clemency for a number of wealthy or politically connected individuals. The report, reviewed by Axios, accuses Trump of abusing the clemency power to reward allies and loyalists at the expense of victims and taxpayers who will no longer benefit from fines, forfeitures and restitution. The biggest financial hit came from Trump's pardon of Trevor Milton, the founder of now-defunct electric truck company Nikola, erasing nearly $680 million in court-ordered restitution. Other notable clemency recipients include Ross Ulbricht, the convicted founder of the Silk Road marketplace, who was spared $184 million in forfeitures, and Jason Galanis, a fraudster whose $84 million restitution order was also wiped out. The costliest category in the report was restitution, which totaled more than $1 billion. In addition, Trump's pardons erased $183 million in forfeitures and $132 million in fines. Democrats warned that Trump's actions are undermining the Crime Victims Fund, a federal resource for supporting crime victims, which is funded in part by restitution payments. "Whoever said crime doesn't pay clearly never lived under a Trump presidency," the report states. Trump has even floated the idea of compensating January 6 defendants, some of whom have pending lawsuits against the Department of Justice seeking damages. The White House dismissed the findings. Spokesperson Harrison Fields mocked the report, calling it the product of "summer interns" and accusing Democrats of hypocrisy over President Biden's pardon of his son, Hunter. "President Trump is righting the wrongs of political prosecutions," Fields said. Originally published on Latin Times
Axios
17-06-2025
- Business
- Axios
Trump's pardons cost the U.S. $1.3 billion, per House Dem report
A new report from Democratic staff on the House Judiciary Committee estimates that President Trump's pardons have cost the American public more than $1.3 billion in fines and restitution. Why it matters: Democrats are homing in on the the nearly 1,600 pardons Trump has already doled out in just five months on the job as one of the most potent attacks on his presidency. The president kicked off his second term with a blanket pardon for most Jan. 6 defendants. He has already repeatedly made headlines for pardoning high-profile or wealthy figures who have proven themselves MAGA loyalists. Driving the news: The largest price tag from Trump's pardons, according to the 10-page report, was nearly $680 million owed in restitution by Trevor Milton, the founder of now-bankrupt electric truck startup Nikola. Other major figures include $184 million in forfeiture from Ross Ulbricht, the founder of the Silk Road marketplace convicted of drug trafficking, and $84 million in restitution owed by convicted fraudster Jason Galanis. Trump also wiped $100 million in fines owed by crypocurrency firm HDR Global Trading. Jan. 6 defendants collectively owed $2.6 million in restitution payments, including to law enforcement officers who were beaten during the deadly Capitol riot, according to the report. By the numbers: The total cost of all the fines, forfeitures and restitution Trump relieved through his clemency grants comes out to $1,348,607,386, the report estimates. The vast majority of that, more than $1 billion, is restitution payments, with another $183 million in forfeiture and $132 million in fines. What they're saying: " Whoever said crime doesn't pay clearly never lived under a Trump presidency," the report says, noting that Trump has floated the possibility of a compensation fund for Jan. 6 defendants. It also warned that, by relieving clemency recipients of financial penalties, Trump risks underfunding the Crime Victims Fund. "Under the first Trump Administration, deposits into the CVF dropped significantly because of his early turn away from white-collar criminal prosecutions," it says. "The second Trump Administration's recent actions pardoning white-collar criminals and wiping out their restitution debts are once again severely draining the coffers of this crucial channel for victims' assistance." The other side: "The summer interns working for House Democrats must be busy writing and printing pointless letters that aren't worth the paper they're written on," said White House spokesperson Harrison Fields. Fields pointed to former President Biden's pardon of his son, Hunter, saying Democrats "were conveniently silent when 'Pay Your Fair Share' Biden pardoned his tax-cheating son, and they have no standing to cry foul now."
Yahoo
13-06-2025
- Automotive
- Yahoo
Aurora and On the Road Garage team up to train autonomous vehicle technicians
Aurora has partnered with On the Road Garage, a transportation workforce development provider to launch an apprenticeship and upskilling initiative to prepare workers for the new demands required by autonomous vehicles. Aurora advises the program and includes autonomous and electric vehicle repair, ADAS calibration, advanced vehicle technologies, and AV terminal operations. This program is about more than just jobs—it's about building equitable access to the future of mobility,' said Roy Villareal, vice president at On the Road Garage in the release. 'Through this collaboration with Aurora, we are creating a national model for inclusive workforce development in emerging transportation technologies.' The program called 'OTR Advanced Vehicle Technology—Powered by Aurora' combines hands-on training paired with pathways to gain industry credentials, a major pathway for vehicle technicians who use these credentials to get better roles or more pay. For autonomous vehicle providers, half the battle is getting the truck on the road while an additional and under-reported challenge goes into maintenance. Compared to a traditional tractor driven by a driver, autonomous trucks require technicians who can troubleshoot and repair the complex LiDAR and radar arrays besides the extra redundant systems that AV trucks require, like braking, power and steering systems. The fleet technician space remains in a shortage, with an aging workforce paired with broader demographic changes forcing maintenance providers to get creative with filling roles. An added challenge comes from the labor pipeline, where smaller shops are competing with larger OEM dealers for labor. Trevor Milton, recently pardoned founder of Nikola, is actively fighting a subpoena from creditors of his bankrupt electric trucking company as they attempt to recover nearly $100 million he allegedly owes the firm. The official committee of unsecured creditors issued the subpoena to Milton's legal team on April 1, seeking information about his financial affairs. The committee alleges Milton has failed to pay the substantial sum awarded to Nikola following a 2023 arbitration case related to his criminal conviction. 'Milton has yet to pay a cent,' the creditor committee stated in a recent filing. Before its bankruptcy declaration in February, Nikola had sued Milton in federal court in Arizona, accusing him of 'fraudulently transferring away tens of millions of dollars of his assets in order to hinder, delay, and defraud [Nikola] in [its] attempts to collect upon the Arbitration Award.' The dispute has persisted for approximately two months, with Milton's legal team arguing that materials sought by creditors are protected under a protective order in the Arizona case. Meanwhile, Nikola's assets have been largely liquidated through the bankruptcy process. Lucid Motors has acquired the leases on Nikola's Arizona factory and headquarters, hiring around 300 former employees. An auction company purchased the company's remaining hydrogen-powered trucks. The arbitration award represents one of the largest remaining assets in Nikola's bankruptcy estate. The company had initially planned to use this award to settle an ongoing class action shareholder lawsuit related to misleading claims made during its public offering process. Complicating matters further, Milton received a surprise presidential pardon from President Trump while appealing his four-year prison sentence. Shortly thereafter, Nikola's lawyers accused Milton of attempting to derail the bankruptcy proceedings. Milton has since commissioned a documentary that premiered on June 10, which he claims will reveal the 'true story about how the so called 'justice system' nearly destroyed an innocent man.' The post Aurora and On the Road Garage team up to train autonomous vehicle technicians appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
