U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining over 1% on Thursday. The Dow traded up 0.14% to 34,395.14 while the NASDAQ rose 1.58% to 14,138.57. The S&P 500 also rose, gaining 0.85% to 4,510.04.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Coinbase Global, Inc. COIN
Coinbase Global, Inc. stock closed 24.49% higher on Thursday at $107. The stock had an intraday high of $109.21 and an intraday low of $83.42. In the wider picture, the stock has a 52-week high of $116.3 and a 52-week low of $31.55.
Coinbase shares moved higher alongside several crypto-related stocks after a U.S. judge ruled that Ripple sales do not constitute an offer of investment contracts. This decision is likely to impact the entire crypto industry and many companies up against similar legal challenges.
Intuitive Machines, Inc. LUNR
Intuitive Machines, Inc. stock closed 3.28% lower on Wednesday at $8.54. The stock had an intraday high of $9.25 and an intraday low of $8.34. In the wider picture, the stock has a 52-week high of $136 and a 52-week low of $6.6.
Intuitive Machines successfully conducted a complete spacecraft test run of its Nova-C lunar lander, a significant technical achievement in the Companys efforts to complete its lunar lander.
Tesla Inc. TSLA
Tesla Inc. stock closed 2.17% higher on Wednesday at $277.9. The stock had an intraday high of $279.45 and an intraday low of $270.6. In the wider picture, the stock has a 52-week high of $314.67 and a 52-week low of $101.81.
Teslas stock traded higher amid overall strength in the market and reports suggesting the company is setting up a new production plant in India. The company will reportedly aim to produce 500 thousand vehicles a year in India.
JPMorgan Chase & Co. JPM
JPMorgan Chase & Co. stock closed 1.27% higher on Wednesday at $148.87. The stock had an intraday high of $149.37 and an intraday low of $147.75. In the wider picture, the stock has a 52-week high of $149.87 and a 52-week low of $101.28.
JPMorgan Chase & Co. is expected to report its second-quarter financial results, before the opening bell on July 14, 2023. Analysts expect the company to post quarterly earnings at $4 per share, up from year-ago earnings of $2.76 per share.
Nikola Corp. NKLA
Nikola Corp. stock closed 60.87% higher on Thursday at $2.22. The stock had an intraday high of $2.25 and intraday low of $1.37. In the wider picture, the stock has a 52-week high of $8.97 and 52-week low of $0.52.
Nikola Corp shares are trading higher on above-average volume. The company announced an agreement with BayoTech to advance reliable hydrogen supply for commercial fuel cell electric vehicle fleets.
Stay on top of things with your trading when the premarket session opens.
Photo Courtesy: Shutterstock.com Engineered by Benzinga Neuro , Edited by Shivdeep Dhaliwal
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
Rodriguez led all the way to win the $750,000 Wood Memorial on Saturday, earning enough points to move into the 20-horse field for next month’s Kentucky Derby.
Breaking from the rail, the Bob Baffert-trained colt ran 1 1/8 miles on a fast track in 1:48.15 under Hall of Famer Mike Smith in light rain and 45-degree temperatures at Aqueduct in New York. Rodriguez won by 3 1/2 lengths.
The victory was worth 100 qualifying points for the May 3 Derby, potentially giving Baffert three entrants as he seeks a record-setting seventh victory in his return to the race from which he was banned for three years.
Later Saturday, Baffert was to saddle Citizen Bull, last year’s 2-year-old champion, and Barnes in the $500,000 Santa Anita Derby in California, where it was sunny and 82 degrees.
He sent Rodriguez to New York to split up his Derby contenders. The colt was sent off at 7-2 odds in the 10-horse field and paid $9.30 to win the 100th edition of the Wood. He is a son of 2020 Kentucky Derby winner Authentic.
“Bob told me this horse is probably quicker than you think,” Smith said. “He can get uptight pretty easy, and the whole key was just letting him alone out there. I don’t think he necessarily has to have the lead. He just wants to be left alone.”
Smith has twice won the Kentucky Derby. Rodriguez would be his first mount since 2022. At 59, he would be the oldest jockey to win.
“That’s up to all the owners and Bob,” Smith said. “I was glad they pulled me off the bench and I hit a 3-shot for them.”
Grande, trained by Todd Pletcher, was second. He went from having zero qualifying points to 50, which should get him into the Derby starting gate for owner Mike Repole, who is 0 for 7 in the Derby.
Passion Rules was third. Captain Cook, the 9-5 favorite, finished fourth for trainer Rick Dutrow, who hasn’t had a Derby runner since 2010 after winning the 2008 race with Big Brown.
The $1.25 million Blue Grass Stakes at Keeneland was postponed from Saturday to Tuesday due to heavy rain and potential flooding in the region. That race and the Lexington Stakes on April 12 are the final Derby preps of the season.
Last week, Parker Hannifin launched what they’re calling the industry’s first certified Mobile Electrification Technology Center to train mobile equipment technicians make the transition from conventional diesel engines to modern electric motors.
The electrification of mobile equipment is opening new doors for construction and engineering companies working in indoor, environmentally sensitive, or noise-regulated urban environments – but it also poses a new set of challenges that, while they mirror some of the challenges internal combustion faced a century ago, aren’t yet fully solved. These go beyond just getting energy to the equipment assets’ batteries, and include the integration of hydraulic implements, electronic controls, and the myriad of upfit accessories that have been developed over the last five decades to operate on 12V power.
At the same time, manufacturers and dealers have to ensure the safety of their technicians, which includes providing comprehensive training on the intricacies of high-voltage electric vehicle repair and maintenance – and that’s where Parker’s new mobile equipment training program comes in, helping to accelerate the shift to EVs.
“We are excited to partner with these outstanding distributors at a higher level. Their commitment to designing innovative mobile electrification systems aligns perfectly with our vision to empower machine manufacturers in reducing their environmental footprint while enhancing operational efficiency,” explains Mark Schoessler, VP of sales for Parker’s Motion Systems Group. “Their expertise in designing mobile electrification systems and their capability to deliver integrated solutions will help to maximize the impact of Parker’s expanding METC network.”
Advertisement – scroll for more content
The manufacturing equipment experts at Nott Company were among the first to go through the Parker Hannifin training program, certifying their technicians on Parker’s electric motors, drives, coolers, controllers and control systems.
“We are proud to be recognized for our unwavering dedication to advancing mobile electrification technologies and delivering cutting-edge solutions,” says Nott CEO, Markus Rauchhaus. “This milestone would not have been possible without our incredible partners, customers and the team at Nott Company.”
In addition to Nott, two other North American distributors (Depatie Fluid Power in Portage, Michigan, and Hydradyne in Fort Worth, Texas) have completed the Parker certification.
Electrek’s Take
T7X all-electric track loader at CES 2022; via Doosan Bobcat.
With the rise of electric equipment assets like Bobcat’s T7X compact track loader and E10e electric excavator that eliminate traditional hydraulics and rely on high-voltage battery systems, specialized electrical systems training is becoming increasingly important. Seasoned, steady hands with decades of diesel and hydraulic systems experience are obsolete, and they’ll need to learn new skills to stay relevant.
Certification programs like Parker’s are working to bridge that skills gap, equipping technicians with the skills to maximize performance while mitigating risks associated with high-voltage systems. Here’s hoping more of these start popping up sooner than later.
Based on a Peterbilt 579 commercial semi truck, the ReVolt EREV hybrid electric semi truck promises 40% better fuel economy and more than twice the torque of a conventional, diesel-powered semi. The concept has promise – and now, it has customers.
Austin, Texas-based ReVolt Motors scored its first win with specialist carrier Page Trucking, who’s rolling the dice on five of the Peterbilt 579-based hybrid big rigs — with another order for 15 more of the modified Petes waiting in the wings if the initial five work out.
The deal will see ReVolt’s “dual-power system” put to the test in real-world conditions, pairing its e-axles’ battery-electric torque with up to 1,200 miles of diesel-extended range.
ReVolt Motors team
ReVolt Motors team; via ReVolt.
The ReVolt team starts off with a Peterbilt, then removes the transmission and drive axle, replacing them with a large genhead and batteries. As the big Pete’s diesel engine runs (that’s right, kids – the engine stays in place), it creates electrical energy that’s stored in the trucks’ batteries. Those electrons then flow to the truck’s 670 hp e-axles, putting down a massive, 3500 lb-ft of Earth-moving torque to the ground at 0 rpm.
Advertisement – scroll for more content
The result is an electrically-driven semi truck that works like a big BMW i3 or other EREV, and packs enough battery capacity to operate as a ZEV (sorry, ZET) in ports and urban clean zones. And, more importantly, allows over-the-road drivers to hotel for up to 34 hours without idling the engine or requiring a grid connection.
That ability to “hotel” in the cab is incredibly important, especially as the national shortage of semi truck parking continues to worsen and the number of goods shipped across America’s roads continues to increase.
And, because the ReVolt trucks can hotel without the noise and emissions of diesel or the loss of range of pure electric, they can immediately “plug in” to existing long-haul routes without the need to wait for a commercial truck charging infrastructure to materialize.
“Drivers should not have to choose between losing their longtime routes because of changing regulatory environments or losing the truck in which they have already made significant investments,” explains Gus Gardner, ReVolt founder and CEO. “American truckers want their trucks to reflect their identity, and our retrofit technology allows them to continue driving the trucks they love while still making a living.”
If all of that sounds familiar, it’s probably because you’ve heard of Hyliion.
In addition to being located in the same town and employing the same idea in the same Peterbilt 579 tractor, ReVolt even employs some of the same key players as Hyliion: both the company’s CTO, Chandra Patil, and its Director of Engineering, Blake Witchie, previously worked at Hyliion’s truck works.
Still, Hyliion made their choice when they shut down their truck business. ReVolt seems to have picked up the ball – and their first customer is eager to run with it.
“Our industry is undergoing a major transition, and fleet owners need practical solutions that make financial sense while reducing our environmental impact,” said Dan Titus, CEO of Page Trucking. “ReVolt’s hybrid drivetrain lowers our fuel costs, providing our drivers with a powerful and efficient truck, all without the need for expensive charging infrastructure or worrying about state compliance mandates. The reduced emissions also enable our customers to reduce their Scope 2 emissions.”
Page Trucking has a fleet of approximately 500 trucks in service, serving the agriculture, hazardous materials, and bulk commodities industries throughout Texas. And, if ReVolt’s EREV semis live up to their promise, expect them to operate a lot more than 20 of ’em.