Enovix Shares Soar on Development Deal with Smartphone OEM

Dow Jones05-02

By Dean Seal

Shares of Enovix surged after the company landed a development deal with an undisclosed large smartphone manufacturer.

The stock was up 33% at $8.67 in premarket trading on Thursday. Shares had fallen 48% year-to-date when the market closed Wednesday and have swung between a high of $23.90 and a low of $5.70 in the past 12 months.

The silicon battery company said after the bell on Wednesday that it had reached a development deal with one of the top five smartphone original equipment manufacturers in the world, potentially providing a boost to its top line.

Enovix said it has started making EX-1M battery cells based on the customer's specifications and expects to deliver its first samples in the second quarter.

The company concurrently reported late Wednesday that its loss narrowed in the first quarter to 28 cents a share from 31 cents in the year-ago quarter. Quarterly revenue surged to $5.3 million from $21,000 last year.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

May 02, 2024 09:16 ET (13:16 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2432560664?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-02 21:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2432560664","market":"fut","top_or_hot":-1,"title":"Enovix Shares Soar on Development Deal with Smartphone OEM","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Enovix surged after the company landed a development deal with an undisclosed large smartphone manufacturer. \n</p>\n<p>\n  The stock was up 33% at $8.67 in premarket trading on Thursday. Shares had fallen 48% year-to-date when the market closed Wednesday and have swung between a high of $23.90 and a low of $5.70 in the past 12 months. \n</p>\n<p>\n  The silicon battery company said after the bell on Wednesday that it had reached a development deal with one of the top five smartphone original equipment manufacturers in the world, potentially providing a boost to its top line. \n</p>\n<p>\n  Enovix said it has started making EX-1M battery cells based on the customer's specifications and expects to deliver its first samples in the second quarter. \n</p>\n<p>\n  The company concurrently reported late Wednesday that its loss narrowed in the first quarter to 28 cents a share from 31 cents in the year-ago quarter. Quarterly revenue surged to $5.3 million from $21,000 last year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 02, 2024 09:16 ET (13:16 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"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>Enovix Shares Soar on Development Deal with Smartphone OEM</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\">\nEnovix Shares Soar on Development Deal with Smartphone OEM\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-02 21:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Dean Seal \n\n\n \n\n\n  Shares of Enovix surged after the company landed a development deal with an undisclosed large smartphone manufacturer. \n\n\n  The stock was up 33% at $8.67 in premarket trading on ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"ENVX","symbol_name":"Enovix Corporation","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2432560664","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432560664","pubTimestamp":1714655760,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Enovix surged after the company landed a development deal with an undisclosed large smartphone manufacturer.The stock was up 33% at $8.67 in premarket trading on Thursday. Shares had fallen 48% year-to-date when the market closed Wednesday and have swung between a high of $23.90 and a low of $5.70 in the past 12 months.The silicon battery company said after the bell on Wednesday that it had reached a development deal with one of the top five smartphone original equipment manufacturers in the world, potentially providing a boost to its top line.Enovix said it has started making EX-1M battery cells based on the customer's specifications and expects to deliver its first samples in the second quarter.The company concurrently reported late Wednesday that its loss narrowed in the first quarter to 28 cents a share from 31 cents in the year-ago quarter. Quarterly revenue surged to $5.3 million from $21,000 last year.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"ENVX":"Enovix Corporation","BK6505":"周期性消费品与消费者服务","BK4096":"电气部件与设备","N0Z.SI":"联志国际","BK6096":"消闲用品"},"translate_title":"Enovix股价飙升，与智能手机OEM达成开发协议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"N0Z.SI":1,"ENVX":0.9},"content_text":"By Dean Seal \n\n\n \n\n\n  Shares of Enovix surged after the company landed a development deal with an undisclosed large smartphone manufacturer. \n\n\n  The stock was up 33% at $8.67 in premarket trading on Thursday. Shares had fallen 48% year-to-date when the market closed Wednesday and have swung between a high of $23.90 and a low of $5.70 in the past 12 months. \n\n\n  The silicon battery company said after the bell on Wednesday that it had reached a development deal with one of the top five smartphone original equipment manufacturers in the world, potentially providing a boost to its top line. \n\n\n  Enovix said it has started making EX-1M battery cells based on the customer's specifications and expects to deliver its first samples in the second quarter. \n\n\n  The company concurrently reported late Wednesday that its loss narrowed in the first quarter to 28 cents a share from 31 cents in the year-ago quarter. Quarterly revenue surged to $5.3 million from $21,000 last year. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 02, 2024 09:16 ET (13:16 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"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":"4.22.4","shortVersion":"4.22.4","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/2432560664"}