This week our focus was on such companies as Rivian Automotive, Novavax, Salesforce, and Plug Power. Here is a look at how their shares have reacted to recent events.

Rivian Automotive report: annual loss rose 44%

Rivian Automotive report: annual loss rose 44%

On Tuesday 28 February, American electric pickup and SUV manufacturer Rivian Automotive Inc. released its fourth-quarter and full-year 2022 report after the close of the trading session.

Revenue for the October to December period increased 1127.78% to $663 million from the same period in 2021, net loss fell 29.99% to $1.72 billion, and loss per share 61.28% to $1.87. Annual revenue increased 2914.55% to $1.66 billion, and net loss 44.03% to $6.75 billion or $7.4 per share.

Last year, Rivian Automotive Inc. decreased its initial production forecast twice, bringing the figure to 25,000 electric cars, to finally producing 24,337 vehicles. This year, management expects production volumes to reach 50,000 electric cars. Experts had predicted the figure to be at least 60,000 cars.

RBC Capital analysts lowered the target price of the car maker’s stock from $50 to $28, DA Davidson from $23 to $16, Wedbush from $37 to $25, and Canaccord from $55 to $40. On 1 March, the share price of Rivian Automotive Inc. (NASDAQ: RIVN) dropped 18.34% to $15.76 per unit.

Novavax stock price crashed 26%

Novavax stock price crashed 26%

On 28 February, US biotechnology company Novavax Inc. reported quarterly and annual results. Revenue for Q4 increased 60.85% to $357.4 million, net loss fell 78.46% to $182.25 million, and loss per share fell 79.61% to $2.28. It must be noted that the consensus forecast of the loss was $0.92 per share. Full-year revenue rose to 72.89%, with earnings reaching $1.98 billion. The net loss dropped by 62.27% to $657.94 million or $8.42 per share.

Moreover, the management of Novavax Inc. voiced its doubts about the company's ability to continue its operations. This is likely because the US government has not renewed the contract with Novavax Inc. for the purchase of Nuvaxovid, a vaccine against COVID-19. As you might recall, Nuvaxovid is the only approved product in the company's portfolio.

On 1 March, the company’s earnings release coupled with the voiced doubts about the future of the biotech company sent the quotes of Novavax Inc. (NASDAQ: NVAX) down by 25.92% to $6.86.

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Salesforce report: annual revenue up 18%

Salesforce report: annual revenue up 18%

On Wednesday 1 March, US-based developer and provider of cloud-based enterprise customer interaction solutions Salesforce Inc. released financial results for the fourth quarter and full fiscal year 2023, which ended on January 31.

Revenue for the period from November to January increased 14.44% to $8.38 billion, and net loss rose 250% to $98 million, or $0.1 per share. Salesforce Inc.'s annual revenue increased 18.35% to $31.35 billion while net income fell 85.6% to $208 million or $0.21 per share.

Salesforce Inc. expects revenue and operating cash flow to increase by about 10% and 16%, respectively, in fiscal 2024. Moreover, the tech company has increased its stock buyback programme to $20 billion.

The quarterly and annual statistics that exceeded experts’ expectations and an optimistic outlook for this year sent the stock price of Salesforce Inc. (NYSE: CRM) on 2 March rising 11.5% to $186.59 per unit. Since Monday, the quotes have risen by 15.04%.

Plug Power report: annual loss up by 57%

Plug Power report: annual loss up by 57%

On 1 March, American supplier of ready-made hydrogen fuel cell solutions Plug Power Inc. reported fourth-quarter and full-year earnings. Quarterly revenue rose 36.32% to $220.74 million, while loss per share increased by 18.75% to $0.38.

For 2022, revenue increased by 39.63% to $701.44 million, net loss rose 57.41% to $724.01 million or $1.25 per share. But the quarterly and annual results disappointed investors and analysts.

KeyBanc Capital Markets lowered the target price of Plug Power Inc. stock from $31 to $25, and RBC Capital from $19 to $17. On Wednesday, the stock price of Plug Power Inc. (NASDAQ: PLUG) dropped 4.44% to $14.21 and on Thursday 6.19% to $13.33.


Rivian Automotive Inc., Novavax Inc., Salesforce Inc. and Plug Power Inc. all reported quarterly and annual financial results this week. The stock prices of almost all of these corporations, with the exception of the cloud solutions provider (Salesforce), slid rapidly.

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