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Nikola to tap into growth through its solar installations business
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Nikola Corporation (NASDAQ:NKLA) is demonstrating bullish potential as more investors jump on board. The stock has 201,679 investors that have been trading it through Robinhood and its market capitalization is roughly $13.10 billion.
Nikola reported that its total revenue for the second quarter of 2020 was $36,000. One of the company's filings with the Securities and Exchange Commission revealed that the revenue was generated through solar installations for the company's Executive Chairman Trevor Milton.
According to the 10-Q form, Nikola's solar revenues for Q2 2020 were $0.03 million which was slightly lower than its Q2 2019 solar revenue of $0.04 million. The solar revenues for the two quarters were entirely courtesy of the solar installation services that were provided to the company's executive chairman.
Nikola also expects its solar business to grow rapidly and it is preparing to serve the resulting demand through a new 1 million-square-foot production facility that it recently started constructing in Arizona, U.S. The production facility will feature modern technologies as part of the company's plan to tap into higher production efficiencies.
JetBlue Airways to offer record low ticket rates
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JetBlue Airways Corporation (NASDAQ:JBLU) has 221,751 investors on Robinhood and its market capitalization as per the latest trading session was $2.95 billion.
The company recently announced a ticket flash sale through which it will offer one-way tickets for as low as $20.JetBlue describes the offering as the "lowest available fare" which will be available for Blue Basic airfare trips. The offer will be active fro September 8 this year to February 10, 2021.
The impressively low fare means you can purchase a ticket for a flight from New York to Nashville or New York to Minneapolis for just $49. You will be able to pay as little as $89 to fly from New York to Cancun, Mexico, and as little as $119 to fly from New York to Montego Bay in Jamaica.
As far as safety is concerned, JetBlue recently revealed that it will sanitize its planes using UV light.
Marathon Oil posts better than expected Q2 2020 performance
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Marathon Oil Corporation (NYSE:MRO) stock performance has been improving with roughly 189,793 investors trading it on Robinhood. Its market capitalization as per the latest trading session was $4.49 billion.
Investors responded positively after Marathon Oil reported a lower than the anticipated loss in its recent financial report. The company suffered higher costs which were the result of measures aimed at shielding itself from the huge COVID-19 fallout especially in the oil industry with prices dropping drastically.
Marathon Oil had to slash its expenses by 17.2% to $975 million to cope with the63.4% drop in the price of a barrel of crude oil to $21.65.
The oil industry experienced significant recovery in Q2 2020 but crude oil prices are still roughly 32% lower than the prices at which they sold for in January 2020. This is because the demand for the commodity is still yet to fully recover since the COVID-19 pandemic is still ongoing.
Marathon Oil reacted to the crude oil rally in Q2 by adjusting its production guidance with the set production at 190,000 net crude barrels daily. It also lowered its capital expenditure for the full year 2020 from $1.3 billion to $1.2 billion.
The company's net production in Q2 dropped from 435,000 barrels of oil equivalent per day (boepd) to 390,000 barrels boepd.
Marathon Oil's loss in Q2 was 95 cents per share, or $750 million. In comparison, the company reported a 20 cents per share profit or $161 million profit in Q2 2019.
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COMTEX_369032311/2700/2020-08-07T09:53:10
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