[SPAC King Palihapitiya steps down from Virgin Galactic's board]Billionaire investor Chamath Palihapitiya's decision to step down as chairman of Virgin Galactic, which is down nearly 80 percent since he sold the remainder of his stake last May. $维珍银河(SPCE)$
Nio expects to cruise right around supply chain issue
NIO logo and the NIO store in downtownAndy Feng/iStock Editorial via Getty ImagesBank of America remains constructive on Nio (NIO -0.2%) after meeting with management earlier today on some capacity constraints due to chip component shortages and other disruptions with the production of local suppliers.Crucially, Nio says it has communicated closely with CATL to ensure battery supply for the company's electric vehicle production at 8K to 9k units per month until the end of 2021. Management believes the supply constraints will only impact short-term production. On the positive side, Nio sees positive momentum on the demand front and notes strengthening with new orders received. The demand is strong enough that Nio is confident of hitting prior guidance for Q3 deliveries of 23K to 25K units.T
NIO delivered 7,931 vehicles in July 2021, and rose 1% in premarket trading
$NIO Inc.$ delivered 7,931 vehicles in July 2021, representing a strong 124.5% year-over-year growth. The deliveries consisted of 1,702 ES8s, the Company’s six-seater or seven-seater flagship premium smart electric SUV, 3,669 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,560 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of July 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 125,528 vehicles.
Apple, Tesla, Amazon, Pfizer, and Other Stocks to Watch This Week
It’s the busiest week of second-quarter earnings season. About $one$ third of S&P 500 companies are scheduled to report. Tesla and Lockheed Martin kick things off on M onday, followed by a packed Tuesday: Apple, Microsoft, Alphabet, $Visa$, $AMD$, UPS, General Electric, $3M$, and Starbucks headline a 42-report day.$Facebook$, Shopify, Boeing, Ford Motor, $PayPal$ Holdings, Pfizer, and Qualcomm release results on Wednesday. Then Amazon.com, Comcast, Mastercard, and T-Mobile US report on Thursday.