$1.670
-0.010 (-0.60%)At close
GEVO News
GEVO Events
Stocks Broadly Lower Following Fed Chair Speech
Stocks ended the day broadly lower following Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium. In his first major speech since taking the chair in May, Warsh warned that inflation has not meaningfully slowed, signaling that policymakers may have "work to do" to bring inflation back down to the Fed's 2% target.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Advent and Stripe are no longer pursuing a $50B deal for PayPal,Marvellreportedand provided guidance for Q3Gapprovided a "beat and raise" report for Q2Element Solutionsand Solstice Advanced Materialsmutually agreed toGE Vernovanamed Rivian's2. WALL STREET CALLS:Modernato Buy at Argus after FDA approval for updated Covid vaccinesWorkdayto Equalweight at Capital OneTeraWulfwith an Outperform at William BlairEvolution Petroleumto Outperform at NorthlandAllstateto Hold at Argus3. AROUND THE WEB:The U.S. appeals court sided with Nevada regulators, allowing the state to treat sports prediction markets like unlicensed sportsbooks, while sending Kalshi's election contracts back for further consideration, Bloomberg Law reportsChevronappears positioned to invest billions of dollars and expand its Venezuela footprint, while Halliburtoncould benefit from increased oilfield services activity, WSJ reportsAnthropic discussed buying AI chip startup MatX for about $7B, but talks are no longer active, Reuters saysKimberly-Clarkhas asked EU regulators permission for its proposed $40B takeover of Kenvue, Reuters reportsSoftBankis in talks to buy a majority stake in humanoid robot maker 1X at a $6B valuation, The Information says4. MOVERS:Elasticadvanced after, providing guidance for Q2, and raising its outlook for FY27PagerDutygained afterand raising its guidance for FY27N-ablewas higher after announcing a $50M increase to itsRubrikfell afterand raising its guidance for FY27BioNTechwas lower in New York after announcing it will terminate its5. EARNINGS/GUIDANCE:Chase, with EPS beating consensusFiscalNoteprovidedMiniso, with CEO Guofu Ye "pleased to see that MINISO Chinese mainland delivered a standout performance"Koss Corp., with EPS and revenue higher year-over-yearAffirmand provided guidance for Q1 and FY27INDEXES:The Dow fell 9.45, or 0.02%, to 53,559.99, the Nasdaq lost 138.93, or 0.52%, to 26,402.42, and the S&P 500 declined 19.23, or 0.25%, to 7,711.76.
Gevo Reports Q2 Revenue of $47M, Exceeding Expectations
Reports Q2 revenue $47M, consensus $45.08M. Revenue in the second quarter was affected by annual planned downtime for maintenance that was completed in April. "Gevo delivered strong second quarter operational results and unlocked significant carbon business revenue that is expected to begin in the third quarter, which supports increased expectations of full-year non-GAAP Adjusted EBITDA outlook of more than $60 million," said CEO Paul Bloom.
Gevo Improves Outlook, CEO Emphasizes Shareholder Value
The improved outlook is supported by the approval of the new Canada Clean Fuel Regulation pathway, targeted monetization of Section 45Z tax credits, and strong operating performance at Gevo North Dakota. "We have focused development around our existing operations, improving margins and near-term cash flow, with a portfolio of growth projects that we believe will create substantial shareholder value," said CEO Paul Bloom.
Major Averages Close Higher Led by Tech Stocks
The major averages closed higher as major technology names led broad gains as another round of softer-than-expected inflation data eased concerns that the Federal Reserve may need to tighten policy again this month. The producer price index for final demand fell 0.3% in June, driven by a 1.4% decline in goods prices, while services prices edged up 0.2%. The softer-than-expected report follows Tuesday's encouraging CPI data and is likely to strengthen expectations that the Federal Reserve will leave interest rates unchanged at its July meeting.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:After Reuters said that Stripe and Advent made a joint offer to acquire PayPalfor $60.50 per share, Bloombergthat PayPal is working with advisers to review optionsLionsgateis exploring a sale and has attracted takeover interest from Bollore Group,Morgan Stanleyreported, reauthorized an up to $20B share repurchase program, and increased its quarterly dividendBlackRockreported, with assets under management up 22% year-over-yearPNC Financialprovided areport for Q22. WALL STREET CALLS:Cava Groupto Overweight at Morgan Stanley after recent weaknessOppenheimerIBMto Perform with bull thesis delayedUnusual Machineswith a Buy at H.C. WainwrightDigital Realtyto Buy at GuggenheimTravelersto Underweight at Morgan Stanley3. AROUND THE WEB:Uberis near a deal to acquire Delivery Herofor about EUR 41 per share, or roughly EUR 12.5B, FT reportsMicrosoftis revamping its cybersecurity software business to capitalize on corporate anxieties over AI-powered cyberattacks, The Information saysGooglewill buy 100% of the initial output of a massive solar project to offset its fossil fuel emissions, FT saysApple'sAI service "Apple Intelligence" has been registered to be used in iPhones in China, Reuters reportsJPMorganand Coinbasehave yet to launch any consumer-facing features nearly a year after announcing their partnership, The Information reports4. MOVERS:Electrovayawas higher in New York after announcing aand warrant transaction with AmazonAehr Test Systemsgained afterand providing guidance for FY27Gevoincreased afterPentairfell in New York after announcing theand cutting its guidance for FY26 and Q2SanDiskwas lower after Arguscoverage of the stock with a Hold rating5. EARNINGS/GUIDANCE:Progressivereportedand JuneCintasand provided guidance for FY27ASML, with EPS higher year-over-yearElevance Healthand raised its guidance for FY26, with CEO Gail Boudreaux commenting that Q2 results "exceeded our outlook"Conagra Brandsand provided guidance for FY27INDEXES:The Dow rose 150.37, or 0.29%, to 52,658.64, the Nasdaq gained 162.22, or 0.62%, to 26,269.23, and the S&P 500 advanced 28.81, or 0.38%, to 7,572.40.
Major Tech Stocks Drive Market Gains
The major averages were higher as major technology names led broad gains. Markets are looking to build on Tuesday's gains after softer-than-expected inflation data eased concerns that the Federal Reserve may need to tighten policy again this month. That view is likely firmed up further by today's cooler-than-expected producer price data that reinforced signs that pricing pressures are easing.The producer price index for final demand fell 0.3% in June, driven by a 1.4% decline in goods prices, while services prices edged up 0.2%. The softer-than-expected report follows Tuesday's encouraging CPI data and is likely to strengthen expectations that the Federal Reserve will leave interest rates unchanged at its July meeting.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Stripe and Advent have made a joint offer to acquire PayPalfor $60.50 per share, or over $53B,Lionsgateis exploring a sale and has attracted takeover interest from Bollore Group,Morgan Stanleyreported, reauthorized an up to $20B share repurchase program, and increased its quarterly dividendBlackRockreported, with assets under management up 22% year-over-yearPNC Financialprovided areport for Q22. WALL STREET CALLS:Cava Groupto Overweight at Morgan Stanley after recent weaknessOppenheimerIBMto Perform with bull thesis delayedUnusual Machineswith a Buy at H.C. WainwrightDigital Realtyto Buy at GuggenheimTravelersto Underweight at Morgan Stanley3. AROUND THE WEB:Googlewill buy 100% of the initial output of a massive solar project to offset its fossil fuel emissions, FT saysApple'sAI service "Apple Intelligence" has been registered to be used in iPhones in China, Reuters reportsU.K.'s Competition and Markets Authority has launched a probe into the proposed acquisition of Huel by Danone, WSJ saysJPMorganand Coinbasehave yet to launch any consumer-facing features nearly a year after announcing their partnership, The Information reportsThe Federal Communications Commission is expected to repeal the nationwide TV audience cap, which has limited the number of households a single broadcaster can reach, Bloomberg says, noting that the deregulation is a win for Nexstar'sacquisition of Tegna4. MOVERS:Electrovayahigher in New York after announcing aand warrant transaction with AmazonAehr Test Systemsgains afterand providing guidance for FY27Gevoincreases afterPentairfalls in New York after announcing the resignation of CFO Brazis andfor FY26 and Q2SanDisklower after Argusof the stock with a Hold rating5. EARNINGS/GUIDANCE:Progressiveand JuneCintasand provided guidance for FY27ASML, with EPS higher year-over-yearElevance Healthand raised its guidance for FY26, with CEO Gail Boudreaux commenting that Q2 results "exceeded our outlook"Conagra Brandsand provided guidance for FY27INDEXES:Near midday, the Dow was up 0.28%, or 148.48, to 52,656.75, the Nasdaq was up 0.22%, or 56.57, to 26,163.57, and the S&P 500 was up 0.08%, or 6.31, to 7,549.90.
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.