Stock Movers: Rivian, Qualcomm, Roblox
Rivian posted a narrower first-quarter loss ahead of the sales debut of its new R2 SUV, while Qualcomm rallied after predicting growth in the data center market, and Roblox shares fell 16% after reporting daily active users below analysts' expectations.
Rivian reported a narrower first-quarter loss as it prepares to launch its new R2 SUV, critical to its future. The company will increase initial production at its new Georgia factory to 300,000 vehicles annually, up from 200,000 units. Qualcomm's shares rose after it announced progress in the data center market and predicted a bounce-back in China's phone industry. The chipmaker is working with prospective customers and expects a top hyperscaler to begin using its components later this year. Roblox's shares fell 16% after the company reported 132 million daily active users, below analysts' estimates of 143.8 million, due to new safety features restricting user interactions.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.