Core Insights - Luminar has secured a deal with Yorkville Advisors Global and another unnamed investor to raise up to $200 million through the sale of convertible preferred stock over an 18-month period [1] - The company has undergone significant leadership changes, with founder Austin Russell replaced by Paul Ricci as CEO and board chair, alongside a new round of layoffs [2] Financial Arrangement - Luminar will initially issue $35 million in convertible preferred stock, with the option to issue additional tranches of up to $35 million every 60 days at a purchase price of 96% of the stated value [3] - The proceeds from the initial issuance are intended for general corporate purposes and debt retirement, enhancing the company's financial flexibility [4] Company Background - Luminar was founded in 2012 and gained prominence during the autonomous vehicle technology boom, merging with Gores Metropoulos Inc. in 2021 at a market valuation of $3.4 billion, but currently has a market cap of $179 million [5][7] - The company has faced challenges, including multiple restructurings and a workforce reduction of about 30% in 2024, resulting in the layoff of 212 employees [8]

Tigress Financial analyst Ivan Feinseth maintained Lyft LYFT with a Buy and raised the price target from $26 to $28 on Wednesday.Feinseth noted that Lyft reported a record start to the year, driven by its multifaceted strategy focused on service quality, innovation, and market expansion. This strategy drove records in active rides, riders, driver hours, and gross bookings, driven by strong service demand in both commuting and weekend travel.Lyft reported first-quarter revenue increased 14% to $1.5 billion. ...

Core Viewpoint - Tesla is set to begin testing its robotaxi service in Austin, Texas, by the end of June, with plans to scale up from 10 self-driving cars to about 1,000 within a few months, despite facing regulatory scrutiny regarding safety [1][4][5]. Group 1: Robotaxi Deployment - The initial deployment will focus on the safest parts of Austin, utilizing geofencing to limit operations [2]. - A successful trial is critical for Tesla as the company shifts focus from developing a new cheaper EV platform to launching the robotaxi service and its Optimus humanoid robots [5][8]. - Tesla is in discussions with major automakers to license its Full Self-Driving (FSD) software, which is expected to be integral to the robotaxi service [9]. Group 2: Regulatory Scrutiny - The National Highway Traffic Safety Administration (NHTSA) is investigating Tesla's FSD software due to collisions in reduced visibility conditions, raising questions about the safety of the upcoming robotaxi service [6][8]. - The NHTSA has requested information from Tesla regarding the performance of its robotaxis in poor weather conditions [8]. Group 3: Market Context - Tesla's stock saw a slight increase of less than 1% during afternoon trading, reflecting market sentiment amid the company's strategic pivot [4]. - The commercialization of autonomous vehicle technology remains challenging due to stringent regulations and significant investments, leading to many companies exiting the market [6].

On Maj 19th 2025, Terranet AB (publ) will release its Interim report for the first quarter 2025. On the same day at 10 a.m. CET, the company’s CEO Lars Lindell and CTO Pierre Ekwall will provide an update on the operations in a webcast. The event will be broadcast digitally and is open to the public. The presentation will be held in English. Via the webcast, there is an opportunity to ask written questions. Link to the webcast: https://terranet.events.inderes.com/q1-report-2025A recording of the presentatio ...

May 12, 2025 03:47 AM GMT Semiconductors | North America Weekly: Earnings Week 4 (SLAB, AEVA, AMAT) AMAT will be the focus this week; we expect a mixed qtr that may fail to dispel the overhangs on the stock. AEVA's breakout share performance is driven by its passenger OEM win - more color there will be key. SLAB (EW, reporting before the market open on Tuesday, May 13): Continued recovery, but cautious on long term impacts from macro uncertainty. Last quarter SLAB saw positive progress on their recovery, bu ...

The Zacks Automotive – Foreign industry is expected to remain resilient on the solid growth momentum of Chinese auto players. Japan’s growing economy opens new doors of opportunity for local auto manufacturers, while a difficult and uncertain global economic environment in Europe is likely to clip the margins of European automakers. Amid the current economic backdrop, Toyota Motor Corporation (TM) , Honda Motor Co., Ltd. ((HMC) are expected to live up to the investors’ expectations.Industry Overview Compani ...

Uber (UBER) FY Conference May 15, 2025 09:20 AM ET Speaker0 Alright. We're going to go ahead and get started. I'm Doug Anmuth, JPMorgan's Internet analyst. We're very pleased to have with us Uber's CEO, Daragh Hazrashahi. Uber's mission is to create opportunity through movement. Uber is a global leader in two secular growth industries, ride sharing and food delivery. Last year, the company generated $163,000,000,000 in gross bookings along with nearly $7,000,000,000 of free cash flow. Dara has been CEO of U ...

Core Insights - Austin Russell has been replaced as CEO of Luminar, with Paul Ricci appointed as his successor, following an inquiry related to the company's code of business conduct and ethics [1][2] - Russell's resignation was effective immediately, but he will remain on the board to assist with the transition and technology matters [2] - The company's first-quarter earnings report did not mention the leadership change, and Russell's statement in the report was optimistic about the company's future [2][3] Company Background - Luminar was founded by Russell in 2012 and gained public attention in April 2017, becoming a notable player in the autonomous vehicle sector [5] - The company went public in 2021 through a merger with Gores Metropoulos Inc., achieving a post-deal market valuation of $3.4 billion and raising $250 million prior to the SPAC announcement [6] Leadership Transition - The board expressed confidence in Paul Ricci's leadership, highlighting his technical insight, operational excellence, and commitment to innovation as key attributes for leading Luminar's next growth phase [5] - The transition comes amid a broader context of macroeconomic uncertainty, with the company emphasizing its focus on ramping up production and reducing costs [3]

Ride-hail and delivery giant Uber is introducing cheap, fixed-route rides along busy corridors during weekday commute hours in major U.S. cities – one solution to a world that feels, for most people, more expensive everyday. Starting Wednesday, riders in Baltimore, Boston, Chicago, Dallas, New York City, Philadelphia, and San Francisco will be able to save 50% off the price of an UberX trip by booking with Uber’s new “Route Share” feature.  The company announced Route Share and other new features and disco ...

Electric vehicle behemoth Tesla (TSLA) is set to roll out its long-awaited robotaxi service to customers next month. Using Tesla’s in-house app, users will be able to book a driverless ride powered by the company’s Full Self-Driving (FSD) software.But before the excitement fully kicks in, federal safety regulators are stepping in with questions. The National Highway Traffic Safety Administration (NHTSA) launched an investigation into Tesla’s FSD system, specifically how it performs in tricky driving conditi ...