Articles tagged with $DJUSAU

In Monday's EB Digest, I featured a company that I thought might report disappointing results - Rivian Automotive (RIVN). It had performed poorly relative to its automobile industry peers ($DJUSAU) and appeared to be discarded by Wall Street. Last night, RIVN reported revenues that fell way short of expectations and its production guidance was weak. Now we know why RIVN was disliked by Wall Street as it trades down more than 8% in premarket action this morning. Well, tonight's earnings is going to be all about software ($DJUSSW). Several former software darlings will be reporting quarterly results, many of which show awful relative strength, including Veeva Systems (VEEV) and Okta, Inc. (OKTA). If I had to pick one that might deliver better-than-expected results, I'd likely go with Splunk, Inc. (SPLK):...keep reading

Last week, we saw not-so-great market action as the S&P 500 fell 2.67%. Of the 104 industry groups, automobiles ($DJUSAU) performed 103rd out of 104 last week, falling 6.27%. Granted, much of the auto performance revolves around Tesla (TSLA), which is a huge component stock. However, I'm concerned about another name in the auto space, one that has been a very poor relative performer in the group. I'm talking about Rivian Automotive, Inc. (RIVN), which fell more than 14% last week and isn't far from its low since going public in November 2021. Here's the current chart:...keep reading