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ARK Invest launched it's first ETF in two years on Tuesday. ARK Space Exploration, which will trade under $ARKX top two holdings are Trimble and another Ark fund called the 3D Printing ETF $PRNT with weights of 8.6% and 6%. Other large stakes include Kratos Defense and Security Solutions $KTOS, L3Harris Technologies $LHC and JD.com $JD.
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KB Homes reported better than expected Q1 earnings after the market Tuesday on lower than expected revenue from the weatherand power issues in Texas. The stock was higher with other homebuilders after robust order numbers. $KBH had the company's highest backlog level in the last 15 years.
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Pharmaceutical company KemPharm shares have risen after $KMPH received approval for the AZSTARYS NDA an alternative for Adderall and other ADHD treatments. In there fourth quarter earnings they announced a restructured its balance sheet, extinguished its debt and re-listed on The Nasdaq Capital Market. The stock is also heavily shorted.
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Video game developer Roblox launches on March 10 through a direct listing after raising $520 million from investors in a private funding round. The deal gives Roblox a $29.5 billion valuation at $45. The shares will trade under the ticker 'RBLX' on the New York Stock Exchange.
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Cloud data platform Snowflake, who launched it's IPO last September reported Fiscal 4th quarter earnings Wednesday. $SNOW sold off after it's full-year guidance did not exceed analysts’ estimates, a miss in a hugely overvalued technology sector. SNOW also announced an end to its dual-share class structure.
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U.S. electric vehicle maker Xos Trucks Inc is in talks to go public via a SPAC Reuters reported late Monday, citing sources. Xos is working a deal to merge with blank-check acquisition company NextGen Acquisition Corp $NGAC which could value the EV start up near $2 billion. Its customers include package delivery United Parcel Service Inc and cash-handling firm Loomis.
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Oil giant ExxonMobil reported its fourth quarter earnings Friday with its fourth quarterly loss in a row. The Covid pandemic caused plunging oil demand within a supply glut but early stages of demand recovery are seen. Q1 was $XOM's first quarterly loss in 32 years, leading to the first annual loss in that time. XOM’s new focus is on carbon capture energy-transition technologies
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ConocoPhillips reported better than expected fourth quarter earnings before the market opened Tuesday on higher production. Houston based $COP is the largest U.S. based independent exploration and production firm based on production volumes. On Jan. 15, 2021, ConocoPhillips closed the acquisition of Concho.
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Chevron reported worse than expected fourth quarter earnings Friday for the third quarter in a row. Nevertheless $CVX increased their dividend payout for the 33rd consecutive year. Capital spending was down, the Noble Energy acquisition completed in October 2020. Revenue continues to be hammered by the coronavirus economic collapse.
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Rating agancy S&P on Tuesday puts the majority major oil companies on negative ratings watch or lowered their outlook. Many of the energy sector has massive debt exposure which has exposed them to the lockdown economic collapse. To add salt we are seeing aggressive energy transition by the developed world.
