Luminar Technologies, Inc. (LAZR)
Pre-market:
- Barrons.com
These Stocks Moved the Most Today: Berkshire Hathaway, Micron, Palantir, Robinhood, Tesla, Tyson Foods, Perficient, Apple, and More
First-quarter operating profit at Warren Buffett’s Berkshire Hathaway jumps 39%, Micron stock is upgraded, and Palantir rises ahead of its earnings report after the closing bell Monday.
- Reuters
Luminar to cut nearly 20% jobs as part of restructuring
Luminar is also looking to sub-lease some of its facilities in portions or fully, reducing global footprint as part of the restructuring. Lidar sensors help self-driving cars and driver-assistance systems gain a three-dimensional map of the road, and is considered a key to achieving full autonomy in vehicles.
- Barrons.com
Luminar Lays Off 20% of Its Workforce
Luminar Technologies is laying off 20% of its workforce, according to a company memo reviewed by Barron’s. “We stand at the crossroads of two realities: the core of our business has never been stronger across technology, product, industrialization, and commercialization; yet at the same time, the capital markets perception of our company has never been more challenging,” reads part of the company-wide communication from CEO Austin Russell. “These kinds of decisions are never easy, and we’re taking steps to provide significant support for our exiting employees,” added Russell.
