RT zerohedge (@zerohedge)After Hours:AMAT +10%...big revs guide above on March qtr and “expect to grow our semiconductor equipment business over 20 percent this calendar year”ABNB +1%...Solid beat and C26 " year-over-year revenue growth to accelerate to at least low double digits”ANET +8%...Solid 1Q guide (4Q Revs +29% y/y, GMs 63.4%)CART +13%...1Q EBITDA and GTV guide ahead of consTWLO -8%...beat/guide aboveROKU +12%...4Q Revs inline, 1Q/FY26 EBITDA guided aboveEXPE -3%...4Q GBs/EBITDA beat but 1Q GBs guid ...

Core Viewpoint - Elliott Investment Management opposes the tender offer from Toyota Motor for Toyota Industries, claiming the offer price is too low and detrimental to minority shareholders [1]. Group 1: Tender Offer Details - Toyota Motor initially offered 16,300 yen per share for Toyota Industries, later increasing the bid to 18,800 yen in January [1]. - The tender offer was set to close on Thursday, with 33.1% of shares tendered two and a half hours before the deadline [1]. - To succeed, the bid requires acceptance from 42.01% of minority shareholders, excluding Toyota Motor's 24.66% stake [1]. Group 2: Market Reaction - Following the announcement of the tender offer extension, Toyota Industries shares surged, reaching a record high of 20,355 yen per share [1].

Market Overview - Major U.S. indexes closed lower, with the Dow Jones Industrial Average down 1.34% to 49,451.98, the S&P 500 down 1.57% to 6,832.76, and the Nasdaq down 2.04% to 22,597.14 [1] Coinbase Global, Inc. - Coinbase stock closed down 7.90% at $141.09, with an intraday high of $153.20 and low of $139.36, within a 52-week range of $444.65 to $139.36 [2] Apple Inc. - Apple shares ended 5.00% lower at $261.73, trading between an intraday high of $275.72 and a low of $260.18, against a 52-week high of $288.61 and a low of $169.21 [2] - The decline contributed to a $500 billion loss across major tech companies due to concerns over memory shortages and shrinking margins at peers like Cisco, compounded by hardware cost pressures and AI-related disruptions [2] Applied Materials - Applied Materials declined 3.38% to $328.39, with an intraday range of $341.07 high and $325.56 low, sitting between a 52-week peak of $344.60 and a trough of $123.74 [3] - The stock rose 12.75% to $370.25 in after-hours trading after resolving a U.S. export probe with a $252 million settlement over past China shipments, allowing a focus on AI-driven chip tools and collaborations [3] Arista Networks, Inc. - Arista Networks fell 3.94% to $135.12, ranging from $138.50 high to $132.01 low intraday, within 52-week bounds of $164.94 and $59.43 [4] - The stock increased nearly 12.5% to $151.99 in extended trading [4] - For full-year 2025, Arista generated $9 billion in revenue and shipped a cumulative 150 million ports, with AI networking and campus expansion identified as key growth drivers [4] Rivian Automotive, Inc. - Rivian stock dropped 5.15% to $14.00, hitting an intraday high of $14.83 and low of $13.94, against a 52-week high of $22.69 and low of $10.36, but rose over 14% to $16.03 in after-hours trading [5] - Rivian reported fourth-quarter revenue of $1.29 billion, down from $1.73 billion a year earlier but slightly ahead of the $1.27 billion Street estimate [6] - Automotive revenue totaled $839 million, falling 45% year-over-year due to lower regulatory credit sales, fewer vehicle deliveries, and a lower average selling price, while software and services revenue surged 109% to $447 million [6] - The company posted a narrower-than-expected loss of 54 cents per share, beating estimates for a 68-cent loss, and generated $120 million in consolidated gross profit during the quarter [7] - Full-year revenue rose 8% to $5.39 billion, with CEO RJ Scaringe emphasizing 2025 as a year focused on execution and scaling the business [8]

Core Insights - Rivian Automotive reported a revenue of $1.29 billion for the quarter ended December 2025, reflecting a year-over-year decline of 25.8% [1] - The company's EPS for the same period was -$0.54, slightly worse than the -$0.52 reported a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $1.26 billion, resulting in a surprise of +2.11% [1] - Rivian delivered an EPS surprise of +21.51%, compared to the consensus EPS estimate of -$0.69 [1] Performance Metrics - Rivian's delivery volume was 9,745 units, slightly below the four-analyst average estimate of 9,821 [4] - Revenue from software and services was $447 million, surpassing the average estimate of $397.28 million based on five analysts [4] - Automotive revenue was $839 million, which fell short of the average estimate of $861.1 million from five analysts [4] - Gross profit from software and services was $179 million, exceeding the average estimate of $149.21 million from three analysts [4] - Gross profit from automotive was -$59 million, better than the average estimate of -$145.74 million from three analysts [4] Stock Performance - Rivian Automotive shares have returned -15.7% over the past month, compared to a -0.3% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

分组1 - Rivian Automotive reported a quarterly loss of $0.54 per share, better than the Zacks Consensus Estimate of a loss of $0.69, representing an earnings surprise of +21.51% [1] - The company posted revenues of $1.29 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.11%, but down from $1.73 billion year-over-year [2] - Rivian shares have declined approximately 25.1% since the beginning of the year, contrasting with the S&P 500's gain of 1.4% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is -$0.69 on revenues of $1.34 billion, and for the current fiscal year, it is -$2.32 on revenues of $6.57 billion [7] - The Zacks Industry Rank for Automotive - Domestic is in the top 36% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Market-Moving Headlines - AlgoRhythm Holdings Inc. announced that its AI platform could significantly increase freight volume without additional headcount, leading to a sell-off in the logistics sector, with the Russell 3000 Trucking Index dropping by 6.6% [2][9] - Concerns about AI's disruptive potential have been heightened, with UBS warning that credit markets are underpricing the risks associated with AI-driven disruption, particularly affecting leveraged loans [3] Rivian's Positive Outlook - Rivian Automotive Inc. reported a fourth-quarter adjusted loss of 54 cents per share, which was better than analyst expectations, and surpassed revenue forecasts [4] - The company provided a strong delivery guidance for 2026, estimating 62,000 to 67,000 vehicles, and confirmed that its R2 SUV is on track for a second-quarter launch [4] Tech and Finance Giants Make Moves - NVIDIA Corp. plans to lease a new 200-megawatt data center in Nevada, partially financed by a $3.8 billion junk-bond sale led by Tract Capital, with JPMorgan Chase & Co. and Morgan Stanley managing the transaction [5] - Citigroup Inc. announced a 22% pay increase for CEO Jane Fraser, raising her 2025 compensation to $42 million, following a 66% surge in the bank's stock price [6][9] Political and Economic Headwinds - A partial shutdown of the Department of Homeland Security is looming as Senate Democrats blocked a funding bill over immigration agent restrictions, with a deadline approaching [10] Financial Troubles in Retail - Saks Fifth Avenue is negotiating with lenders and suppliers to address financial concerns related to inventory on consignment and to prevent objections to its bankruptcy loan [11]

Core Viewpoint - Rivian Automotive Inc. reported better-than-expected fourth-quarter revenue, leading to a 12.7% increase in stock price during after-hours trading, despite a significant decline in vehicle sales compared to the previous year [1]. Group 1: Financial Performance - The company reported fourth-quarter revenue of $1.29 billion, slightly above analyst expectations of $1.27 billion [3]. - Adjusted earnings per share were -$0.70, marginally better than the expected -$0.71 [3]. - Total revenue decreased from $1.73 billion in the same quarter last year, with automotive revenue dropping 45% to $839 million, primarily due to a $270 million reduction in regulatory credit sales and the expiration of tax credits affecting vehicle deliveries [3]. Group 2: Operational Highlights - Rivian produced 10,974 vehicles and delivered 9,745 in the quarter at its manufacturing facility in Normal, Illinois [4]. - The company’s software and services segment showed strong performance, with revenue more than doubling to $447 million from $214 million year-over-year [3]. Group 3: Future Outlook - Rivian provided guidance for 2026, expecting vehicle deliveries between 62,000 and 67,000 units, with capital expenditures projected between $1.95 billion and $2.05 billion [4]. - The manufacturing progress of the R2 model is on track, with initial customer deliveries expected to begin in the second quarter of 2026 [4]. Group 4: Cash Position - As of the end of 2025, Rivian had $6.08 billion in cash, cash equivalents, short-term investments, and restricted cash [5].

Market Overview - US stock futures showed mixed signals following a broad market sell-off, with S&P 500 and Dow Jones Industrial Average futures near flatline, while Nasdaq 100 futures also remained little changed after significant selling pressure on tech stocks [1] - The market is reacting to a cooler-than-expected inflation reading, which is influencing expectations regarding Federal Reserve interest rate policies [1][2] Inflation Data - The Consumer Price Index (CPI) indicated a 0.2% increase in consumer prices for January compared to the previous month, and a 2.4% increase year-on-year, which was lower than economists' expectations [2][5] - The core CPI, excluding food and energy, rose by 0.3% month-on-month and 2.5% year-on-year, aligning with expectations [6] Federal Reserve Outlook - The inflation readings have shifted traders' outlook for potential rate cuts, now pricing in a 51% chance of at least one 25 basis-point cut by the June meeting, while the March meeting is expected to maintain current rates with less than 10% likelihood of a cut [7] Company Earnings and Stock Movements - Rivian's stock surged nearly 20% following a fourth-quarter earnings beat, with the company on track to deliver its R2 midsize model before summer [5][15] - Applied Materials saw its stock climb over 10% after beating Wall Street expectations, contributing to a year-to-date increase of 27% [4][16] - Pinterest shares fell about 20% due to a revenue forecast that fell short of analysts' estimates, raising concerns about AI risks to its platform [4][17] - DraftKings stock dropped 17% after missing analyst expectations for guidance, while Roku's stock rose 15% after beating fourth-quarter earnings estimates [8][9] AI Impact on Market Sentiment - Concerns about AI disruption have affected various sectors, including real estate and logistics, leading to a sell-off in tech stocks, particularly the "Magnificent Seven" megacaps [3] - Conversely, fears surrounding AI have benefited Asian stocks, particularly chipmakers, as global funds shift preference towards hardware producers with strong pricing power [11][12][13]

Rivian was saved by software in 2025 https://t.co/aTSZHFTPsj ...

Core Insights - Rivian's total revenue for 2025 reached $5.38 billion, marking an 8% increase from $4.97 billion in 2024, despite a 15% decline in automotive revenue to $3.8 billion due to lower vehicle deliveries and a drop in regulatory credit sales [2][3] Revenue Breakdown - Automotive revenue fell to $3.8 billion, influenced by a $134 million decrease in regulatory credit sales and reduced vehicle deliveries, although higher average selling prices provided some offset [2] - Software and services revenue surged over threefold to $1.55 billion, primarily driven by a joint venture with Volkswagen Group [3] Joint Venture with Volkswagen - The joint venture with Volkswagen, established in 2024 and valued at up to $5.8 billion, resulted in a $1 billion payout in 2025 after Rivian met certain milestones [4] - Rivian is expected to receive an additional $2 billion from Volkswagen through 2027, contingent on the successful completion of winter testing and other terms [5] Future Product Launches - Rivian plans to launch the R2 SUV by June 2026, which is designed to be cheaper to produce and more affordable for customers, addressing the company's historical losses on vehicle production [8] - The R2 SUV is anticipated to further reduce costs, with Rivian aiming to deliver between 62,000 and 67,000 vehicles in 2026, representing a potential 59% increase from 2025 [11] Financial Performance and Projections - Rivian reported a net loss of $3.6 billion in 2025, with expectations of an adjusted net loss between $1.8 billion and $2.1 billion for 2026 [12] - Capital expenditures for 2026 are projected to be between $1.95 billion and $2.05 billion [12]