Nio climbs as it begins deliveries of its low-cost Firefly EV in Europe

Chinese EV maker Nio announced Friday that it’s started delivering its Firefly EVs to customers in the Netherlands and Norway, sending shares climbing.

The news marks the official start of the Nio sub-brand’s launch in markets outside of China.

Firefly’s small electric hatchback starts at about $27,000 in Norway and just under $35,000 in the Netherlands. (Norway is not an EU member-state, thus avoiding the bloc’s 20% tariffs on Chinese EVs.)

Nio has plans to expand Firefly’s footprint in Europe to 12 more countries by the end of next year. The company’s Onvo brand last month launched a low-cost electric SUV in China to compete with the popular Tesla Model Y.

The news has clearly sparked some interest in bullish options on the stock: calls traded in Nio have already cruised past yesterday’s total as of 11:01 a.m. ET.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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