Luminar CFO addresses chip image issue, calls out Goldman analyst

seekingalpha2023-03-25

Luminar Technologies CFO Tom Fennimore penned a strongly worded open letter on Friday, arguing the stock’s recent slide is unjustified. Shares of the Florida-based automotive technology company have ...

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anyhow99
2023-04-12
anyhow99
why even bother with analysts? if they are good they won't be working for shit banks isn't it. if you can predict the winning numbers of lottery would you tell the world? I defo won't. Even if I can only predict the smaller prizes I won't even share.

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Shares of the Florida-based automotive technology company have ...</p>\n\n<a href=\"https://seekingalpha.com/news/3950998-luminar-cfo-addresses-chip-image-issue-calls-out-goldman-analyst\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Luminar CFO addresses chip image issue, calls out Goldman analyst</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLuminar CFO addresses chip image issue, calls out Goldman analyst\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-25 00:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3950998-luminar-cfo-addresses-chip-image-issue-calls-out-goldman-analyst><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Luminar Technologies CFO Tom Fennimore penned a strongly worded open letter on Friday, arguing the stock’s recent slide is unjustified. Shares of the Florida-based automotive technology company have ...</p>\n\n<a href=\"https://seekingalpha.com/news/3950998-luminar-cfo-addresses-chip-image-issue-calls-out-goldman-analyst\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CPTN","symbol_name":"Cepton, Inc.","start_time":0,"source_url":"https://seekingalpha.com/news/3950998-luminar-cfo-addresses-chip-image-issue-calls-out-goldman-analyst","article_id":"2322149625","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1249185090/image_1249185090.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2322149625","pubTimestamp":1679675956,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Luminar Technologies CFO Tom Fennimore penned a strongly worded open letter on Friday, arguing the s","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CPTN":"Cepton, Inc.","BK4588":"碎股","BK4550":"红杉资本持仓","BK4537":"激光雷达概念","BK4552":"Archegos爆仓风波概念","LAZR":"Luminar Technologies, Inc.","INVZ":"Innoviz Technologies Ltd.","BK4551":"寇图资本持仓","BK4504":"桥水持仓","BK4549":"软银资本持仓","CFO":"VictoryShares US 500 Enhanced Volatility Wtd ETF","BK4124":"机动车零配件与设备","BK4127":"投资银行业与经纪业","MBLY":"Mobileye Global Inc.","BK4562":"SPAC上市公司","BK4539":"次新股","GS":"高盛","BK4585":"ETF&股票定投概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4157":"电子设备和仪器","BK4533":"AQR资本管理(全球第二大对冲基金)","OUST":"Ouster Inc.","LIDR":"AEye, Inc."},"translate_title":"Luminar首席财务官呼吁高盛分析师解决芯片映像问题","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OUST":1,"MBLY":1,"LIDR":1,"LAZR":1,"INVZ":1,"GS":1,"CPTN":1,"CFO":1},"content_text":"Luminar Technologies CFO Tom Fennimore penned a strongly worded open letter on Friday, arguing the stock’s recent slide is unjustified. Shares of the Florida-based automotive technology company have fallen sharply in March, sliding over 35% since March 3. The stock added to that decline on Friday, slipping 5.81%. A key catalyst for that slide was the revelation that the company used an image of a chip belonging to a competitor in promotional material. Adding to downside pressure, Goldman Sachs moved to a Sell rating in mid-March as its analysts argued there is downside to margin projections from the company. Fennimore dismissed these issues as “other lidar companies stepping up their public attacks”, “FUD”, and “misinformation.” He accused the broader industry of adopting a “crab mentality” amid a struggle to compete. On the issue of the competitor’s chip being used in a YouTube video, Fennimore attributed this to simple human error. He explained that a team member utilized a generic photo that was not meant to be representative of Luminar’s technology, but of a photonic integrated circuit generally.  “A startup company that Luminar has never heard of contacted the media claiming that we were improperly passing off their tech as ours. This is clearly not the case,” he declared. “For the avoidance of doubt, we replaced the thumbnail with an actual microscopic photo of one of our integrated circuits. Let me be clear — all of our key semiconductor intellectual property at Luminar is homegrown and owned by us.” Fennimore also took Goldman Sachs analyst Mark Delaney to task for moving his rating from Neutral to Sell earlier in the week. “This downgrade took us by surprise as the same analyst had published a note a couple weeks prior reiterating both his Neutral rating and price target,” he wrote. “Every analyst is entitled to his or her views, but there did not appear to be a credible Luminar-specific catalyst for the downgrade.” He dove into Delaney’s commentary on ASP/margin pressure and argued that a premium valuation for Luminar as compared to peers is warranted. His letter concluded with a reiteration of a commitment to 2023 targets set forth in the company’s early March earnings result. Shares of Luminar (NASDAQ:LAZR) declined sharply on Friday despite the vigorous defense. Shares of Innoviz (INVZ) -5.49%, AEye (LIDR) -11.49%, Mobileye (MBLY) -5.09% and Cepton (CPTN) -6.02% all fell as the LiDAR industry broadly dipped after Ouster’s (OUST) -12.91% earnings disappointment on Thursday evening.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9942574602,"gmtCreate":1681263559707,"gmtModify":1681266448095,"author":{"id":"3573519995060976","authorId":"3573519995060976","name":"anyhow99","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":4,"crmLevelSwitch":1},"htmlText":"why even&nbsp;bother with analysts? if they are good they won't be working for shit banks isn't it. if you can predict the winning numbers of&nbsp;lottery would you tell the world? I defo won't. Even if I can only predict the smaller prizes I won't even share.&nbsp;","listText":"why even&nbsp;bother with analysts? if they are good they won't be working for shit banks isn't it. if you can predict the winning numbers of&nbsp;lottery would you tell the world? I defo won't. Even if I can only predict the smaller prizes I won't even share.&nbsp;","text":"why even bother with analysts? if they are good they won't be working for shit banks isn't it. if you can predict the winning numbers of lottery would you tell the world? I defo won't. Even if I can only predict the smaller prizes I won't even share.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9942574602","repostId":2322149625,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2322149625"}