ROBT

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has described lidar sensors as a “crutch” for autonomous vehicles. Yet Tesla has become the largest customer of lidar manufacturer Luminar Technologies, Inc. (NASDAQ:LAZR).  As disclosed in Luminar’s earnings report on Tuesday, in the first quarter of 2024, Tesla contributed over 10% of Luminar’s revenue, totaling more than $2 million. Luminar’s revenue decreased 5% from the fourth quarter of 2023, primarily due to reduced sensor sales to non-automotive customers. However, this decline was mitigated by increased sales to Tesla, which became Luminar’s largest lidar customer in the first quarter, TechCrunch reports. Also Read: Luminar Technologie

Lidar company Luminar Technologies, Inc. (NASDAQ:LAZR) is reducing its workforce by 20% and relying more heavily on its contract manufacturing partner as it restructures towards a more “asset-light” business model to scale production. The stock is trading lower, and it went down as much as 13% on Monday. The workforce reduction will impact about 140 employees. The company will also part ways with most of its contract workers. Also Read: Will Luminar Technologies Need To Raise $1B In Capital? This Bearish Analyst Answers Founder and CEO Austin Russell emphasized in a letter on Luminar’s website that the company is at a crossroads. While its core business remains strong in technology,

Appian Corp (NASDAQ:APPN) reported fiscal first-quarter 2024 revenue growth of 11% year-on-year to $149.84 million, marginally beating the analyst consensus of $149.76 million. Adjusted EPS loss of 24 cents missed the analyst consensus loss of 16 cents. The stock price plunged close to 20% after the results. Total subscription revenue increased 19% year over year to $117.7 million. Professional services revenue was $32.1 million, down 11% year over year. Outlook: Appian expects second-quarter revenue of $140.00 million – $144.00 million, up by 10% – 13% Y/Y against the consensus of $145.25 million. It projects an adjusted EPS loss of 34 cents to 28 cents versus the 0.29 cents consen

Mobileye Global Inc (NASDAQ:MBLY) stock is trading higher Wednesday amid reports of the company winning orders to ship 46 million of its EyeQ6 Lite assisted-driving chips.  The chips, which are in significant demand across global markets, will be incorporated into vehicles launching mid-year.  The company’s executive vice president of business strategy and development, Nimrod Nehushtan, highlighted that this figure represents current wins, anticipating further growth and deployment in the coming years, Reuters reports.  While Mobileye has kept its customer list confidential due to non-disclosure agreements, known clients include prominent automotive manufacturers like Volkswagen and

The U.S. has accumulated a huge pile of debt, and this has raised an alarm among economists and the American public alike. Tesla CEO Elon Musk on Friday suggested a quick fix for the problem. What Happened: A X platform user shared the U.S. debt clock, which showed a staggering $34.65 trillion in outstanding dues owed by the U.S. government. “This can't be fixed. It's over,” the user captioned the post. Responding to the post, another user shared a reflective question: “Is there no turning back?” This can't be fixed. It's over. pic.twitter.com/25BfI9JbSR— Rothmus 🏴 (@Rothmus) April 12, 2024 Musk, who has previously commented on the precarious fiscal position of the U.S. joined in

The debate over active and passive management strategies has weathered the test of time. The passive approach, typified by following broad market indices like the S&P 500, has its advocates, especially given its cost efficiency and simplicity. However, there’s a growing interest in the potential of actively managed funds to outperform the market. Despite the skepticism often surrounding active management—fueled by studies like the one from S&P Dow Jones Indices, which highlighted that more than 92% of U.S. large-cap funds failed to beat the S&P 500 over a 15-year period — TrueMark Investment is making a compelling case for its model. The investment firm offers actively managed ETF

The world of robotics is undergoing a seismic transformation, penetrating diverse sectors and revolutionizing industries at an unprecedented pace. Fueled by significant advancements in artificial intelligence (AI) and machine learning, the once-futuristic realm of robots is swiftly becoming a reality. The global robotics technology market size is expected to grow at a CAGR of 14.7% from 2023 to 2032, according to a Precedence Research forecast. The market is set to reach a $283.19 billion in 10 years. AI Plays A Pivotal Role AI’s evolution plays a pivotal role in enhancing robots’ capabilities, allowing them to tackle increasingly intricate tasks. EY strategists note that AI breakth

U.S. Secretary of the Treasury Janet Yellen, who is also the Financial Stability Oversight Council (FSOC) Chair, called AI an "emerging threat" to financial stability. Yellen sees a need to curb the technology's potential market risks. The increasing reliance on this emerging technology is considered a “vulnerability” and Yellen believes existing regulations should be used to curb the potential market risks that financial markets might become exposed to eventually. Related: Artificial Intelligence Pegged As Financial Risk By US Regulators AI Driving Stocks Higher Meanwhile, artificial intelligence (AI) became a household name. It has been driving many technology stocks this year

The tech rally witnessed this year can be primarily attributed to the wider adoption of artificial intelligence (AI) and the potential it holds for companies in this space. However, veteran venture capitalist Alan Patricof, who invested early in successful stocks like Apple, is sounding a note of caution regarding the growing AI hype. Patricof’s Concerns: Patricof, founder of venture capital firm Alan Patricof Associates, believes investors should approach AI companies with caution. He noted that an “awful lot” of companies are rushing into the AI space, with valuations often reaching into the billions. However, Patricof advises a longer-term perspective: “But let's tune in 12 or 24 mo

Energy stocks have remarkably outperformed their tech counterparts over the past three months. The driving force behind this surge? A resounding oil rally. WTI-graded crude oil has experienced a remarkable ascent of over 30% since mid-June. This dramatic increase can be attributed to a combination of factors, including supply constraints resulting from production cuts by Saudi Arabia and Russia, as well as a robust U.S. economy that has sustained demand for oil. During the first semester, the Nasdaq 100 index, represented by the Invesco QQQ Trust (NASDAQ:QQQ), exhibited a staggering 39% increase, marking the best first half of the year since the inception of the index. Much of

A growing proportion of Wall Street analysts are adopting a more cautious posture towards the artificial intelligence (AI) rally. Morgan Stanley strategist Edward Stanley says semiconductor giant Nvidia Corp.’s (NASDAQ:NVDA) impressive surge of over 200% in 2023 is a potential indicator of the AI stock bubble apex. The rise is likely in its “later-innings,” he added. Based on past trends, bubbles generally rally a median of 154% in the three years before their peaks. Bank of America strategist Michael Hartnett also noted the excessive rally of this market, Bloomberg’s Subrat Patnaik illustrates. Chart: Nvidia Stock Price Has Tripled in 2023 AI Benchmarks Show Mixed Results

First Trust Advisors L.P. ("FTA") announces the declaration of distributions for 138 exchange-traded fund(s) (each a "Fund," collectively, the "Funds") advised by FTA. The following dates apply to today's distribution declarations: Expected Ex-Dividend Date: December 23, 2022 Record Date: December 27, 2022 Payable Date: December 30, 2022 Ticker Exchange Fund Name Frequency Ordinary Income Per Share Amount Long-Term Capital Gain Per Share Amount     ACTIVELY MANAGED EXCHANGE-TRADED FUNDS       First Trust Exchange-Traded Fund III   FCAL Nasdaq First Trust California Municipal High Income ETF

First Trust Advisors L.P. ("FTA") announces the declaration of distributions for 135 exchange-traded fund(s) (each a "Fund," collectively, the "Funds") advised by FTA. The following dates apply to today's distribution declarations:   Expected Ex-Dividend Date:   June 24, 2022   Record Date:   June 27, 2022   Payable Date:   June 30, 2022 Ticker   Exchange   Fund Name   Frequency   Ordinary Income Per Share Amount   ACTIVELY MANAGED EXCHANGE-TRADED FUNDS   First Trust Exchange-Traded Fund III    FCAL   Nasdaq   First Trust California Municipal High Income ETF   Monthly   $0.0925 FEMB   N

First Trust Advisors L.P. ("FTA") announces the declaration of distributions for 120 exchange-traded fund(s) (each a "Fund," collectively, the "Funds") advised by FTA. The following dates apply to today's distribution declarations: Expected Ex-Dividend Date: March 25, 2022 Record Date: March 28, 2022 Payable Date: March 31, 2022 Ticker Exchange Fund Name Frequency Ordinary Income Per Share Amount   ACTIVELY MANAGED EXCHANGE-TRADED FUNDS   First Trust Exchange-Traded Fund III FCAL Nasdaq First Trust California Municipal High Income ETF Monthly $0.0900 FEMB Nasdaq First Trust Emerging Markets

First Trust Advisors L.P. ("FTA") announces the declaration of distributions for 122 exchange-traded funds (each a "Fund," collectively, the "Funds") advised by FTA. The following dates apply to today's distribution declarations: Expected Ex-Dividend Date:   June 24, 2021 Record Date:   June 25, 2021 Payable Date:   June 30, 2021   Ticker Exchange Fund Name Frequency Ordinary Income Per Share Amount ACTIVELY MANAGED EXCHANGE-TRADED FUNDS   First Trust Exchange-Traded Fund III FCAL Nasdaq First Trust California Municipal High Income ETF Monthly $0.0950 FEMB Nasdaq First Trust Emerging Markets Local Curren