News

Luminar Technologies reported a strong fourth quarter, exceeding analyst expectations with revenue of $22.48 million and marking a significant increase over the previous year. The company's CEO, Austin Russell, highlighted the launch of the Volvo EX90, the first global production vehicle featuring Luminar's lidar technology, as a culmination of a decade's worth of work.

PulteGroup Inc. (PHM) stock rose on Thursday morning following a strong report on existing home sales and rising home prices. The company, which specializes in building single-family homes in key markets like Florida, Texas, and Georgia, stands to benefit directly from the tight housing inventory and rising demand for new construction.

Micron Technology Inc. (MU) surpassed analyst expectations in its second-quarter financial results, reporting revenue of $8.05 billion and adjusted earnings per share of $1.56, driven by strong demand and technology leadership. The company anticipates record revenue in the third quarter and expects to achieve record revenue and significantly improved profitability in fiscal 2025.

J.P. Morgan analyst John Ivankoe's forum highlighted a shared focus on streamlining operations and reinvesting in customer and employee experiences among restaurant companies. The analyst recommended fresh investments in Dutch Bros, Starbucks, and CAVA, while upgrading CAVA to Overweight and reiterating a Neutral rating on Chipotle and EAT.

Signet Jewelers received a price target increase from Telsey Advisory Group, with the analyst citing better-than-expected sales and tighter expense control. The company is implementing a "Grow Brand Love" strategy and focusing on increasing its share in core categories like gold and bridal, while expanding into adjacent markets like self-purchase and gifting.