Sign up for CNN’s Wonder Theory science newsletter. Explore the universe with news on fascinating discoveries, scientific advancements and more. CNN — In a landmark first, scientists have grown plants in lunar soil using samples collected during the Apollo missions to the moon. This is the first time plants have been sprouted and grown on … Read more
Photo: Nissan Nissan is making money again, Rivian is not, and GM. All of that and more in The Morning Shift for May 12, 2022. 1st Gear: Nissan Nissan has had a weird three years or so following the ouster of former CEO Carlos Ghosn under circumstances that can only be described as too bizarre … Read more
The Securities and Exchange Commission is investigating Elon Musk’s failure to disclose his massive March Twitter share purchase in a timely fashion, according to a report by the Wall Street Journal. The richest man in the universe took too long to file the required public form while in the process of buying up 9.2% of … Read more
London CNN Business — Within the often head-scratching world of cryptocurrencies, there’s a small but growing sub-species known as “algorithmic stablecoins” that have some investors and regulators ringing alarm bells. This week, one popular so-called algo coin cratered, wiping out billions of dollars’ worth of value in just a few days. The coin, called TerraUSD, … Read more
Take a look at some of the biggest movers in the premarket: Ford (F), General Motors (GM) – Ford fell 2.8% in premarket trading while GM slid 3.4% after Wells Fargo double-downgraded both stocks to “underweight” from “overweight.” Wells Fargo said 2022 could represent a profit peak for legacy automakers, with the shift toward electric … Read more
New York CNN Business — The bitcoin crash is hitting Coinbase really, really hard. The cryptocurrency brokerage reported a first-quarter loss late Tuesday and revenue that fell 27% from a year ago, missing Wall Street’s forecasts. Coinbase shares plummeted more than 25% Wednesday and hit their lowest level ever. Coinbase stock is now down more … Read more
The company said that it had 7,000 new orders for its R1 electric pickup in the last two months, bringing total net orders up to 90,000 vehicles. And it said that despite supply chain problems that have cut its production by 25% since the end of March, it is still on track to build 25,000 … Read more
Beyond Meat on Wednesday reported a wider-than-expected loss for its first quarter as the launch of its new plant-based jerky weighed heavily on margins. Shares of the company fell as much as 25% in extended trading, extending the stock’s losses from earlier in the day. Beyond’s stock closed Wednesday down 13.8% ahead of the company’s … Read more
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland/CNBC Electric vehicle maker Rivian Automotive on Wednesday maintained its 2022 production target, saying it’s still on track to build 25,000 vehicles this year, as it reported a jump in reservations and a first-quarter loss that … Read more
Scout will become its own separate brand offering off-road-oriented electric trucks and SUVs in North America. A Scout SUV and pickup truck are expected to go on sale around 2026. “The vehicles will be designed, engineered, and manufactured in the US for American customers,” the company said in a statement. “To this end, a separate, … Read more