Rivian Reveals All-Electric R2 Midsize SUV

(Phillip Faraone/Getty Images)

Rivian shares poised for best day since January as the EV maker hypes its next SUV during earnings call

Rivian shares surged more than 15% the morning following its Q3 earnings results.

11/5/25 11:39AM

Rivian is on pace to record its second-best trading day of the year. The EV maker’s shares rose more than 15% in Wednesday morning trading following its third-quarter results, which dropped after market close on Tuesday.

The company posted a top- and bottom-line beat for Q3, including a nearly 80% sales spike year over year, and reaffirmed its guidance for full-year earnings and deliveries. That, along with an earnings call flush with hype for Rivian’s upcoming midsize SUV, the R2, appears to have investors excited.

“We’re very, very bullish on what we’re building with R2. The way we think about it as a team is we’re building the best car you can buy in this category and in this price point,” CEO RJ Scaringe said on the company’s call with investors Tuesday evening.

Scaringe pitched the R2, which will be priced in the “$45,000 to $50,000 range,” as a direct competitor to Tesla’s Model 3 and Model Y. The company reaffirmed that it anticipates R2 production costs to come in at half of the R1’s.

“At this mass market price point... there’s really been a single dominant brand with really two products. That’s of course Tesla with the Model 3 and the Model Y,” Scaringe said. “And with them taking up roughly half the market, 50% market share, it’s not a reflection of a healthy market. It’s a reflection of a very underserved market in terms of choice and options.”

Rivian, which has been working to cut costs ahead of mass production of the R2, said it will devote nearly three-quarters of its Normal, Illinois, plant to building the vehicle. Its future Georgia plant will eventually support further production of the R2 and future vehicles, which are “architected... and designed from the very beginning contemplating Europe and planning for Europe.”

Rivian said the R2 is still on track to launch in the first half of 2026. “We would steer folks to there being limited volumes in the first half of the year. And then the second half of the year, we’ll build up our ramp and see increasing production volumes,” said CFO Claire McDonough.

J. Edward Moreno2h

Lawmakers to introduce bill banning sports contracts on prediction markets: WSJ

Sports-betting stocks rose after The Wall Street Journal reported that a bipartisan pair of lawmakers are seeking to ban Commodity Futures Trading Commission-regulated companies from offering sports-related contracts on prediction markets.

Reportedly sponsored by Sens. Adam Schiff, D-Calif., and John Curtis, R-Utah, the bill would prevent companies like Kalshi or Polymarket’s US arm from posting event contracts related to the outcome of sporting events, a market that accounts for a sizable chunk of their volumes.

Prediction markets have emerged as competitors to sports-betting platforms, which are primarily regulated at the state level, and companies like DraftKings and Flutter Entertainment have risen on the news in premarket trading.

Meanwhile, Robinhood Markets and Interactive Brokers, which both offer prediction markets covering sports and other contracts, ticked down on the news before President Trump’s latest Iran announcement sent much of the stock market jolting higher, with futures on the S&P 500 rising more than 3% in a matter of minutes.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation. Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Exclusive | Lawmakers to Introduce Bipartisan Bill Banning Sports Bets on Prediction Markets

Hyunsoo Rim

Stocks jolt higher after Trump says US will postpone Iran energy strikes for a “five day period”

Global equity markets were sharply in the red once again until President Trump posted on Truth Social, detailing a five-day break from strikes on Iranian energy infrastructure after “productive” talks.

Claire Yubin Oh2h

Synopsys rises on WSJ report of Elliott’s new multibillion-dollar stake

Software company Synopsys is up 3% in premarket trading on Monday after The Wall Street Journal reported that Elliott Investment Management, a well-known activist fund, has taken a multibillion-dollar stake in the company.

Elliott Managing Partner Jesse Cohn told the WSJ that “Synopsys is essential to the global chip industry,” and that it is “uniquely positioned to benefit” as the AI industry continues to require more capital, more complex chips, and therefore, more software to design them.

The firm’s investment is predicated on a “clear opportunity for Synopsys’ financial performance to more fully reflect the value it delivers.” While memory stocks like Micron have been on a tear recently, Synopsys has dropped 8% over the past year, lagging behind its biggest rival, Cadence Design Systems, which is up 6% in the same period.

Citing people familiar with the investment in Synopsys, the Journal reports that Elliott sees room for the company to boost sales and improve its margins to be more in line with that of Cadence. In its fiscal year 2025, Cadence notched an adjusted operating margin of nearly 45%, while Synopsys eked out only 37%.

Exclusive | Activist Elliott Builds Big Stake in Chip-Design Software Maker Synopsys

Matt Phillips, Tasha Matsumoto

3/20/26

Stocks sink as the war escalates; Russell 2000 enters correction territory

The S&P 500 closed lower for the fourth consecutive week as the US deployed more troops and warships to the Middle East.

Alaskan Brown Bears (Ursus horribilis) fighting in a river

Matt Phillips3/20/26

Exxon and Chevron surge as oil rises; gold keeps getting clobbered

Exxon and Chevron jumped again on Friday, the two largest positive contributors to the S&P 500 as of midday, even as the broader market remained mired in the red.

The two giant US energy companies are also on track to notch another in a series of new all-time highs as well Friday, and for obvious reasons.

Energy continues to be the bright spot for the S&P 500 since the start of the Iran war. (It is the only gainer of the 11 separate sectors that compose the blue-chip index, rising more than 7% in March.)

But energy’s gain has come with pain elsewhere. Since rising gas prices work mechanically as a tax on other forms of consumer spending, staples stocks have been hit hard, with the sector down more than 6% this month alone. Meanwhile, the inflationary pressure pushing the Fed away from further rate cuts continues to hit precious metals and miners. SPDR Gold Shares ETF and iShares Silver Trust futures both fell further on Friday; they’re down roughly 10% and 15% for the week, respectively, and producers like Newmont and Freeport-McMoRan also continue to drop.