Futures mostly higher, FedEx's rosy outlook, Rivian surges - what's moving markets
) shares spike in extended hours trading as the delivery group and global economic bellwether unveils an upbeat full-year financial forecast. Shares in Rivian and other big-name tech firms pulled both the S&P 500 and Nasdaq Composite into the green on Tuesday. Shares in Nvidia climbed by 6.8%, recovering from a three-session sell-off, while the sector-wide Philadelphia Semiconductor index added 1.8%.
FedEx also reported a 7.2% uptick in income excluding items to $1.34 billion in its fiscal fourth quarter on revenue of $22.1 billion. CEO Raj Subramaniam called the returns"unprecedented in this current environment," adding that the momentum is expected to"continue in fiscal 2025.
The partnership, which could see VW provide Rivian with as much as $5 billion in capital, aims to form a 50/50 joint venture for sharing knowledge on electric vehicle architecture and software. If the tie-up is completed, Volkswagen will gain"immediate access" to Rivian's current EV technology.The move comes as VW looks to bolster its EV offerings during a time of intensifying competition from rivals in China and U.S.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HashKey Global Officially Launches Futures Trading, Pioneering a New Era in 'Licensed Futures Trading'HashKey Global Officially Launches Futures Trading, Pioneering a New Era in 'Licensed Futures Trading'
Read more »
HashKey Global Officially Launches Futures Trading, Pioneering a New Era in “Licensed Futures Trading”Crypto Blog
Read more »
2025 Rivian R1S and R1T Add 850-HP Tri Motor Model, Quad Now Has 1025 HP2025 Rivian R1T and R1S Revealed!
Read more »
2025 Rivian R1T And R1S: How Would You Configure Yours?Rivian gave its truck and SUV some big updates for the 2025 model year.
Read more »
Rivian Owners Are Unknowingly Doing a Dumb Thing and Killing Their Tires. They Should Stop.It turns out something Rivian owners think is helpful is actually causing premature tire wear.
Read more »