- Mercedes-Benz has entered a partnership with Luminar Technologies
- American Airlines Group and Netflix releases Q4 2021 earnings and revenue results
- Peloton suspends production of Peloton bike
Mercedes-Benz acquires stake in Luminar Technologies
Luminar Technologies Inc. (NASDAQ: LAZR) shares were up almost 20% yesterday after announcing a collaboration agreement with German car manufacturer Mercedes-Benz. As per the agreement terms, the German automaker will purchase 1.5 million shares of Luminar.
The German carmaker aims to use Luminar's lidar tech in the next-gen of small cars, according to Luminar. Austin Russell, the company's CEO, declined to give a specific timetable but stated that it would occur in the not-too-distant future. Luminar expects its Iris lidar tech to go into production later this year.
American Airlines posts net loss of $931 million in Q4 2021
American Airlines Group (NASDAQ: AAL) released its Q4 2021results with revenue of $9.4 billion and a net loss of $931 million or $1.44 per share. After excluding net exceptional items, the net loss was $10 million less, bringing the total to $921 million.
The company's net loss for the entire FY2021 was $2 billion, or $3.09 per share. With special goods excluded, the total came to $5.4 billion. The airline carrier transported more than 160 million passengers this year, outnumbering competitors.
Peloton Interactive suspends production of Peloton bike
On Thursday, Peloton Interactive Inc. (NASDAQ: PTON) shares dropped 24% after the company announced the suspension of the exercise equipment production because of dropping consumer demand.
According to a CNBC report, Peloton Bike will be out of production for about two months while Tread about six weeks. In February, the production stop will begin. The announcement comes days after the exercise products firm announced that it would stop producing Bike+ till June.
Netflix gives underwhelming subscriber growth guidance for Q1 2022
Netflix (NASDAQ: NFLX) shares dipped 10% after hours on Thursday after the company announced strong Q4 2021 results but gave a dovish forecast for user growth for Q1 2022. The company reported revenue of $7.71 billion, representing a 17% YoY growth and net income of $607 or $1.33 per share.
In the most recent quarter, Netflix added 8.3 million paid customers, matching the consensus estimates but falling short of its own expectation of 8.5 million. However, it now only anticipates 2.5 million new subscribers in the first quarter, compared to the 5.8 million analysts projected.