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The U.S. Commerce Department on Thursday announced preliminary antidumping duties on solar cells and panels imported from India, Indonesia and Laos, the latest in a string of tariffs imposed over a decade on cheap solar imports from Asia.
Rivian Automotive Inc (NASDAQ: RIVN) shares are trading lower on Tuesday as the company faces scrutiny following a recent recall of nearly 20,000 vehicles due to a defect that may increase the risk of a crash.
NEW YORK--(BUSINESS WIRE)--VanEck announced today the 2025 annual distributions per share for its VanEck equity exchange-traded funds.
SMOG ETF, celebrating its 18th birthday, focuses on clean energy and energy efficiency, showing resilience and potential for long-term growth despite market fluctuations. Strong tailwinds for renewable energy include global net-zero targets, energy self-sufficiency, and competitive pricing of renewables like solar and wind. Major headwinds include U.S. policy shifts favoring fossil fuels and protectionist trade policies, which could impact renewable energy investments and international trade.
NEW YORK--(BUSINESS WIRE)--VanEck has announced the 2024 annual distributions per share for its VanEck equity exchange-traded funds (ETFs).
Li Auto Inc LI reported fiscal first-quarter 2024 revenue growth of 36.4% year-on-year to $3.55 billion, missing the analyst consensus estimate of $3.84 billion. Adjusted net earnings per ADS was $0.17 missed the analyst consensus estimate of $0.35. The stock price dropped after the results. Vehicle sales increased 32.3% to $3.4 billion, mainly attributable to the increase in vehicle deliveries. Total vehicle deliveries were 80,400 units in the quarter, an 52.9% Y/Y increase. Also Read: Tesla Tries To Boost China Sales With Free Supercharging Miles After Price Cuts The vehicle margin declined by 50 bps year over year to 19.3%, while the gross margin expanded by 20 bps year over year to 20.6%. Adjusted income from operations was $13.9 million, down by 88.7% Y/Y. Li Auto held cash and equivalents of $13.7 billion as of March 31, 2024. Cash provided by operating activities was $462.9 million for the quarter. As of March 31, 2024, the company had 474 retail stores covering 142 cities, 356 servicing centers, and Li Auto-authorized body and paint shops operating in 209 cities, and 357 super charging stations in operation equipped with 1,544 charging stalls. In April 2024, the company delivered 25,787 vehicles, representing an increase of 0.4% from April 2023. Mr. Xiang Li, chairman and chief executive officer of Li Auto, commented, “In March, we launched and commenced delivery of our high-tech flagship family MPV, Li MEGA, which is also our first high-power charging BEV. Meanwhile, we accelerated our efforts to deploy super charging stations nationwide, adding charging resources for Li Auto users to expedite the 0-to-1 development phase of our high-power charging BEVs.” “In April, we launched and commenced delivery of Li L6, a five-seat premium family SUV, to satisfy the mobility needs of more young families, making all-wheel-drive range extension system and intelligent features available on vehicles priced below RMB300,000.” Outlook: Li Auto sees second-quarter fiscal 2024 revenue of $4.1 billion – $4.3 billion, representing an increase of 4.2% – 9.4% Y/Y. LI expects first-quarter vehicle deliveries of 105,000 – 110,000, representing an increase of 21.3%—27.1% year over year. Li Auto stock lost over 15% in the last 12 months. Investors can gain exposure to the stock via VanEck Low Carbon Energy ETF SMOG and First Trust Long/Short Equity FTLS. Price Action: LI shares traded lower by 4.26% at $23.83 in premarket at the last check Monday. Photo via Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors who piled into clean energy themes the last few years are experiencing some performance pain this year, as we appear to be experiencing a detour on the road to the clean energy transition. Related themes have been hard hit this year due to a confluence of events.
NEW YORK--(BUSINESS WIRE)--VanEck announced today the 2023 annual distributions per share for its VanEck® equity exchange-traded funds.