Stock Alert: Upstart Holdings Jumps 20% On Quarterly Results
Shares of Upstart Holdings Inc. (UPST) jumped about 20% on Wednesday morning. The company on Tuesday after market closed reported its first-quarter results, with both profit and revenues beating Wall Street estimates. The company also lifted its full-year revenue outlook and issued a second-quarter revenue outlook that is expected beat estimates.
UPST is currently trading at $106.85, up $17.41 or 19.47%, on the Nasdaq.
Upstart’s first-quarter profit rose to $10.1 million or $0.11 per share from $1.5 million or breakeven per share. Adjusted earnings for the quarter were $0.22 per share, up from $0.05 per share last year. Revenues for the quarter surged 90% to $121.3 million from $64.0 million last year.
Analysts polled by Thomson Reuters expected earnings of $0.15 per share and revenues of $116.06 million for the quarter.
Looking forward to the second quarter, Upstart expects revenues of $150 million to $160 million. Analysts currently estimate revenues of $117.13 million.
For the full year 2021, the company now expects revenue of around $600 million, up from prior guidance of $500 million. Analysts currently estimate revenues of $503.18 million.
Chevrolet Silverado Electric Pickup Truck To Be Built At Factory ZERO Plant
General Motors Co.’s (GM) Chevrolet Silverado electric pickup truck will be built at the company’s Factory ZERO assembly plant in Detroit and Hamtramck, Michigan.
General Motors has not yet revealed the production timeline for the electric vehicle, which is expected to hit the markets in early 2023 as a 2024 model.
The Chevrolet Silverado electric full-size pickup truck is modeled upwards as an electric vehicle, thus combining the best of Ultium Platform and Silverado’s proven capability. Once it is fully charged, the electric pickup truck ensures a GM-estimated range of more than 400 miles.
The company President Mark Reuss also confirmed that the GMC Hummer EV SUV will also soon roll out from the Factory Zero Assembly plant.
He commented, “The vehicles coming from Factory ZERO will change the world, and how the world views electric vehicles. The GMC HUMMER EV SUV joins its stablemate in the realm of true supertrucks, and Chevrolet will take everything Chevy’s loyal truck buyers love about Silverado — and more — and put it into an electric pickup that will delight retail and commercial customers alike.”
General Motors said that the electric pickup truck will be available in retail and fleet versions and thus will give customers many options to choose from and therefore will witness increased demand.
Watch live: CDC panel to vote on Pfizer’s vaccine for use in adolescents
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A key CDC advisory panel is scheduled to vote Wednesday on whether to recommend expanding usage of Pfizer's and BioNTech's Covid-19 vaccine to kids ages 12 to 15.
The endorsement from CDC's Advisory Committee on Immunization Practices, which is widely expected, is the last step before U.S. officials give states the thumbs up to open vaccinations to millions of adolescents as early as Thursday.
Allowing adolescents to get the shots will accelerate the nation's efforts to drive down infections and return to some form of normalcy, public health officials and infectious disease experts say. It also allows states to get middle school students vaccinated before summer camps begin and school starts in the fall
UK reports 2,284 further COVID-19 cases, 11 more deaths
LONDON (Reuters) – Britain reported on Wednesday a further 2,284 cases of coronavirus and an additional 11 deaths within 28 days of a positive test, according to official data.
The total number of people who have received a first vaccine dose now stands at 35,722,461, equivalent to 67.8% of the adult population.
NFL returning to London with 2 games in October
- The NFL is returning to London in October for its first games in the city since the outbreak of the coronavirus.
- The Atlanta Falcons will play the New York Jets on Oct. 10, and the Jacksonville Jaguars face the Miami Dolphins a week later.
- Both games will be staged at the stadium of Premier League soccer team Tottenham.
The NFL is returning to London in October for its first games in the city since the outbreak of the coronavirus.
The Atlanta Falcons will play the New York Jets on Oct. 10, and the Jacksonville Jaguars face the Miami Dolphins a week later. Both games will be staged at the stadium of Premier League soccer team Tottenham.
The Falcons and the Jaguars will be the home teams.
The NFL has played 28 games in London from 2007-19. None were played in the city in 2020 because of the pandemic.
The NFL said it was ready to return to London following a successful rollout of the Covid-19 vaccine in Britain.
"We expect these games to be a celebration of our sport and our robust UK fan base," said Christopher Halpin, executive vice-president and chief strategy and growth officer.
It will be the Jaguars' eighth home game in London. The Dolphins will play there for the fifth time, while the Falcons and the Jets will be in London for the second time.
By Sam Sifton
Good morning. The robins are back on the ground now, bob-bob-bobbin’ around for worms and grubs, basically solo instead of packed tight up high in the trees, a sure sign of true spring. Folks with outdoor access are firing up their grills, everyone’s cooking asparagus, the hothouse tomatoes at the market are fat and blood-red. All I want to eat is sautéed pea shoots with ginger and garlic, or with oyster sauce, or with XO sauce.