U.S. markets closed

  • S&P 500

    4,258.49
    -68.67 (-1.59%)
     

  • Dow 30

    33,962.04
    -725.81 (-2.09%)
     

  • Nasdaq

    14,274.98
    -152.25 (-1.06%)
     

  • Russell 2000

    2,130.68
    -32.56 (-1.51%)
     

  • Crude Oil

    66.61
    -5.20 (-7.24%)
     

  • Gold

    1,813.30
    -1.70 (-0.09%)
     

  • Silver

    25.23
    -0.57 (-2.19%)
     

  • EUR/USD

    1.1808
    0.0000 (-0.00%)
     

  • 10-Yr Bond

    1.1810
    -0.1190 (-9.15%)
     

  • GBP/USD

    1.3672
    -0.0098 (-0.71%)
     

  • USD/JPY

    109.4360
    -0.6300 (-0.57%)
     

  • BTC-USD

    30,846.05
    -854.53 (-2.70%)
     

  • CMC Crypto 200

    736.49
    -21.55 (-2.84%)
     

  • FTSE 100

    6,844.39
    -163.70 (-2.34%)
     

  • Nikkei 225

    27,652.74
    -350.34 (-1.25%)
     

Velodyne Lidar Discloses CEO Exit, Affirms FY21 Outlook

  • Oops!
    Something went wrong.
    Please try again later.
Anusuya Lahiri
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

  • Velodyne Lidar, Inc (NASDAQ: VLDR) CEO Dr. Anand Gopalan has informed the Board regarding his departure as the CEO and director, effective July 30.

  • The company did not disclose any reason for the departure.

  • The Board created an Office of the Chief Executive (OCE), comprising COO Jim Barnhart, CFO Drew Hamer, CPO Kathy McBeath, and CCO Sinclair Vass.

  • The Board has also retained an executive search firm to identify a successor.

  • Dr. Gopalan plans to continue in an advisory capacity following his departure.

  • Velodyne's previously disclosed 2021 revenue guidance between $77 million and $94 million versus an analyst consensus of $93.76 million remains unchanged. The business outlook also remains unchanged.

  • Velodyne will report Q2 financial results following the market close on Aug. 5.

  • Price action: VLDR shares traded lower by 4.74% at $8.65 in the premarket session on the last check Monday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Recommended Stories

  • Velodyne Lidar CEO to step down, shares drop

    San Jose, California-based Velodyne will be led by a team consisting of several members of the senior leadership while it searches for a successor, it said. The company did not give a reason for Gopalan's departure, and reiterated its fiscal 2021 revenue outlook of between $77 million and $94 million. Velodyne did not immediately respond to a request seeking details on Gopalan's exit.

  • Luminar buys one of its chip suppliers to bolster self-driving car sensor

    Luminar Technologies Inc, a maker of lidar sensors for self-driving cars, said on Monday that it has acquired a small chipmaker that makes a key part of its sensor. Palo Alto, California-based Luminar said it has agreed to purchase Wilmington, Massachusetts-based OptoGration Inc, with the deal expected to close in the third quarter. Luminar did not disclose the terms of the deal but said it would not have material impact on Luminar's cash position or share count.

  • India Is the New Hope for Tech Investors With Fund-Raising Blitz

    (Bloomberg) -- Last week marked a watershed for technology startups in India, as a record bout of fundraising shifted attention to the world’s second-most populous market, just as investors were becoming spooked by a crackdown on internet companies in China.Food-delivery app Zomato Ltd. became the nation’s first unicorn to make its stock-market debut, raising $1.3 billion with backing from Morgan Stanley, Tiger Global and Fidelity Investments. The parent of digital payments startup Paytm filed a

  • Duolingo to offer 5.1 million shares in IPO priced at $85 to $95 each

    Duolingo Inc. , a maker of educational and language-learning apps, set terms for its initial public offering on Monday with plans to offer 5.1 million shares priced at $85 to $95 each. The company would raise $484.5 million at the top of that range at a valuation of $3.4 billion, based on the 35.9 million shares expected to be outstanding once the deal is completed. Goldman Sachs and Allen & Co. are lead underwriters of a syndicate of 10 banks underwriting the deal. Proceeds will be used for gen

  • Bucks edge Suns 123-119 to take 3-2 lead in NBA Finals

    Jrue Holiday seized his chance to give the Milwaukee Bucks the lead in the NBA Finals. Took it right out of Devin Booker's hands, actually. Holiday's steal and alley-oop pass to Giannis Antetokounmpo for a dunk sealed a wild Game 5 and gave the Bucks a 123-119 victory over the Phoenix Suns on Saturday night.

  • Is Merger with Lucid Motors a Clear Win for CCIV?

    Investors in up-and-coming EV plays have likely already considered Churchill Capital (CCIV), the company that’s set to take Lucid Motors public this year. This SPAC merger is one of the most highly-anticipated of the year, and brings with it a tremendous amount of investor enthusiasm among those seeking a true rival for current incumbent Tesla (TSLA). Lucid’s core flagship EV product, the Lucid Air, brings a level of luxury and style to the EV market that is reminiscent of Tesla’s Model S. When

  • India's GlobalBees raises $150 million to build Thrasio-like house of brands

    Three-month-old GlobalBees said on Monday it has raised $150 million in a Series A financing round led by FirstCry. Lightspeed Venture Partners also invested in the new financing round, which is $75 million in equity and $75 million in debt. Founded by Nitin Agarwal, formerly of Edelweiss Financial, and Supam Maheshwari, a founder of FirstCry, GlobalBees acquires and partners with digitally native brands across categories such as beauty, personal care, home and kitchen, food and nutrition, and sports and lifestyle with a revenue rate of $1 million to $20 million.

  • Why Plug Power's Stock Is Plunging Today

    Sinking nearly 12% last week, shares of Plug Power (NASDAQ: PLUG) have continued tumbling on Monday, falling as much as 4.8% while the S&P 500 is down 1.7% as of 10:45 a.m. EDT. With Plug Power sharing no news of its own this morning, the stock's decline is likely a reflection of investors' concerns that competition in the hydrogen industry is ramping up as industry stalwarts and an upstart are gaining momentum. Recognizing the global interest in the hydrogen economy, both energy and industrial titans are endeavoring to grab market share.

  • 10 Marijuana Stocks Reddit is Buying Amid New Federal Marijuana Legalization Bill

    In this article, we discuss the 10 marijuana stocks Reddit is buying amid new federal marijuana legalization bill. If you want to skip our detailed analysis of these stocks, go directly to the 5 Marijuana Stocks Reddit is Buying Amid New Federal Marijuana Legalization Bill. Three lawmakers from the Democratic Party in the United States […]

  • ‘A Lot of Very Young People’ Are Going to Buy the Dip in Stocks

    (Bloomberg) -- Someday, the post-pandemic equities rally is going to end. When it does it will take a lot of newly christened stock bulls with it.Their refusal to bend has been the signature fact of the stock market for at least 12 months, putting a floor under four other selloffs in 2021 alone that look just like the one that has sheared almost 3% off the S&P 500 Index since Thursday. Whether the devotion of retail investors is enough to turn the tide again is the biggest question in markets ri

  • Why Energy Stocks Like ExxonMobil, Phillips 66, and Enterprise Products Partners Fell Today

    As of roughly 2 p.m. EDT Monday, shares of diversified energy giant ExxonMobil (NYSE: XOM) had fallen by as much as 5%. Exploration and production giant ConocoPhillips (NYSE: COP) was down by about the same percentage, while relatively tiny Matador Resources (NYSE: MTDR) was off by roughly 10%. Downstream-focused Phillips 66 (NYSE: PSX), which refines oil, also dropped as much as 5%.

  • The market sell-off is a ‘slight overreaction’: WealthSource President

    Patrick Brewer, CFA, CPA and President of WealthSource, joins Yahoo Finance to discuss the market sell-off, outlook on the energy market, and the reopening of the U.S. economy.

  • 3 No-Brainer Warren Buffett Stocks to Buy Right Now

    Warren Buffett doesn't always beat the market. Investors don't have to scratch their heads in consternation about how Buffett makes his money. Here are three no-brainer Buffett stocks to buy right now.

  • Why Ford, General Motors, and Churchill Capital IV (Lucid Motors) Stocks Are Down Today

    Churchill Capital IV (NYSE: CCIV), the special-purpose acquisition company (SPAC) set to merge with Lucid Motors, was down about 2.2%. Ford Motor Company (NYSE: F) was down about 2.8%. General Motors (NYSE: GM) was down about 2.4%.

  • 5 Heavily Short-Sold Stocks That Won't Squeeze

    Rather, the buzz has been about the retail movement and the desire to seek out the next short squeeze. In simple terms, short-sellers are investors betting on a lower share price. Since a company's share price can't go below $0, gains are capped at 100% for pessimists.

  • Is Amarin Corporation plc (AMRN) Going to Burn These Hedge Funds?

    How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]

  • Why Was the Stock Market Down Today? Covid-19 Fears Were Just One Reason.

    Covid-19 Delta variant fears were the trigger for a selloff on Monday. But markets were due for a correction. It could be a chance to buy the dip.

  • Zoom to buy Five9 in $14.7 billion deal

    Myles Udland, Brian Sozzi, and Julie Hyman discuss Zoom's first billion-dollar acquisition with Five9 for $14.7 billion and how Zoom acquiring Five9 is the first step the company is taking to stay competitive post-pandemic.

  • Why Ashford Hospitality Trust Fell as Much as 17% in Early Trading Today

    The hotel landlord made a change to its shares after the close on Friday. On the one hand, it's not particularly meaningful; on the other, it is.

  • U.S. Stock Market Plunges On Covid Fears; These Stocks Offer Unexpected Bright Spot

    The stock market sold off, sending the S&P 500 and Nasdaq to their largest losses in nearly 10 weeks.