cnbc_topnews

Rivian reduces 2026 spending plans, narrows earnings guidance

📰 source: cnbc_topnews · 💼 business

rivian automotive reduced its 2026 spending plans and narrowed its loss guidance after reporting better-than-expected second-quarter results on thursday. the company reported an adjusted loss of 47 cents per share versus the expected 63 cents, and revenue of $1.66 billion beating $1.51 billion estimates. gross profit swung to $179 million from a loss of $206 million a year ago. rivian now expects adjusted losses between $1.8 billion and $2 billion for 2026, and capital spending of $1.7 billion to $1.8 billion, down from previous ranges. it reaffirmed delivery guidance of 65,000 to 70,000 vehicles, citing higher deliveries of its electric delivery van and r1 models, and the start of r2 suv deliveries. the company's cash and equivalents stood at $5.3 billion, with incoming funds from a volkswagen software deal and an uber equity investment. ceo rj scaringe expressed excitement about the r2 launch as a step toward profitability.

why it matters: rivian's narrower loss and improved margins signal progress toward profitability, with the r2 suv launch driving optimism among investors.

source: cnbc_topnews
sentiment: +0.20 · impact: 0.40

Surprise fall in US jobs last month as slow summer continues

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Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

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China is gaining ground in AI. But the U.S. still has a major advantage

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US strikes $1.2bn deal to pay German firm to halt offshore wind projects

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects