Chinese electric vehicle manufacturer Li Auto (LI) reported an unexpected profit for Q4 of 2020 on Thursday, sending the auto manufacturing company's stock up by 1% to 28.98 in premarket trading. This movement is in stark contrast to the stock slump that Li was expected to incur.
While analysts expected...
Moderna shares gained 2.2% during premarket trading on Thursday as the biotech company reported a revenue of $570 million during the fourth quarter of 2020. This revenue surge came as a result of skyrocketing sales of the Massachusetts-based company's COVID-19 vaccine, mRNA-1273.
Despite this record-high sales revenue, the biotech firm...
Private equity firm CVC Capital Partners is currently exploring a bid for UK chemical manufacturer Synthomer Plc, according to reports. The Luxembourg-based CVC currently manages approximately $111 billion in secured commitments of private equity, credit, and growth funds across Asia and Europe.
According to insiders who asked to remain anonymous,...
California-based EV company Lucid Motors and blank check company Churchill Capital IV (CCIV) completed a merger deal on Monday night. With the deal under wraps, the EV company is one step closer to realizing its goal of going public. Churchill Capital IV shares declined by 30% following the announcement.
As...
Aerostructures manufacturer Spirit AeroSystems Holdings posted a quarterly loss on Tuesday, proving to be yet another aircraft manufacturer that has been hit by the slump in air travel caused by the COVID-19 pandemic. The company explained in a statement that this loss resulted directly from the reduction in aircraft...
Sanofi and GlaxoSmithKline Plc have resumed trials for their joint COVID-19 vaccine candidate. After being faced with setbacks during their previous trials in the fall, these pharmaceutical manufacturers have improved their shot's formulation. According to a statement on Monday, this was done to improve effectiveness in people 50 years...
Amazon founder Jeff Bezos has reclaimed the title of the world's richest person this week, unseating Tesla and SpaceX pioneer Elon Musk. This comes after Tesla Inc. stocks slipped by 2.4% during Tuesday's trading.
Having help at the top spot for six weeks, Elon Musk lost approximately $4.5 billion as...
Israeli chipmaker Tower Semiconductor announced on Wednesday its plans to invest an extra $150 million into its efforts to boost its production capacity. According to a company forecast, this year promises to provide record revenue as a result of an unprecedented level of demand.
With certain economies recovering fairly quickly...
After becoming the first African country to begin a national vaccination campaign two weeks ago, Morocco is expected to receive an order of 4 million doses of the AstraZeneca vaccine on Thursday. The doses that are expected to arrive were manufactured by the Serum Institute of India.
According to health...
Brazilian healthcare technology startup Alice raised $33 million in its latest round of funding, the company revealed in a statement on Thursday. The new round was led by the Boston-based venture capital firm ThornTree Capital Partners, with existing investors such as Kaszek Ventures, Canary, and Maya Capital also getting...