Shares of Nikola Corp (NASDAQ: NKLA) slipped more than 8.5% on Thursday hit the lowest levels recorded in seven months after the electric truck maker abandoned the deal with Republic Services to make electric garbage trucks for the solid waste collection company. Fundamental analysis: Order cancelled Nikola faced a number of challenges this year, particularly after short sellers accused the electric truck maker of fraud three months ago, after which its founder Trevor Milton left the company. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. In the announcement, the truckmaker said the previous order of 2,500 electric garbage trucks for Republic Services has been called off. “This was the right decision for both companies given the resources and investments required,” said CEO of Nikola Mark Russell. However, analysts from Cowen and Co saw the termination of the deal as a positive sign for Nikola. “We like management’s exit from expensive and costly non-core initiatives in the post-Trevor Milton era,” the company said. Shares of Nikola plummeted by 25% on the last day of November on the announcement that General Motors has decided to change the initial agreement to buy
Granite (NYSE:GVA) announced today that it has begun work for a $13 million task order at the Homewood, Illinois Station as part of a Multiple Award Construction Contract (MACC) for Americans with Disabilities Act (ADA) Stations Program by The National Railroad Passenger Corporation (Amtrak). The project contract will be included in Granite’s third quarter 2020 backlog.
Granite was one of eight contractors selected in 2019 to participate in Amtrak’s ADA Stations Program MACC. The $100 million indefinite delivery/indefinite quantity (IDIQ) competitive MACC is comprised of task orders ranging from $25 thousand to $25 million, for five base years ending in 2023, plus five, one-year options through 2028. Granite is currently completing four ADA compliance upgrade projects that were previously awarded by Amtrak under this MACC Program, two in Montana and two in New York.
Amtrak’s ADA Stations Program is a comprehensive program to make the Amtrak-served stations for which Amtrak has ADA responsibility, ADA compliant and accessible. In this task order, Granite will be responsible for the renovation of a portion of the existing Homewood station's building and surrounding site. Scope of work will include modifications to the sidewalks and parking lot, restrooms, existing waiting room seating and wall mounted accessories; and replacement of station entry doors, and ramps at both station entrances and landings. Additional renovations include interior and exterior signage, and the replacement of the existing track level asphalt platform with a new 650-foot boarding platform; the construction of a weather protected ramp from the station level to the existing tunnel; and modernization of platform elevator.
"Given that this project includes multiple stakeholders and a fast-paced schedule, Granite's team has provided and will maintain a detailed phasing plan to ensure this project is safe, high-quality and is completed on-time,” said Granite Regional Vice President Benj Harding. "The robust phasing plan has been developed to minimize disruption to the traveling public.”
Construction is underway and expected to conclude in December 2021.
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for eleven consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200824005112/en/
Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has launched VantageCare™, a new managed service for smart mobility infrastructures operated by state and local transportation agencies.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210119005047/en/
Iteris Unveils New Software-Enabled Managed Service for Smart Mobility Infrastructures (Photo: Business Wire)
VantageCare is a software-enabled smart mobility infrastructure managed service that utilizes process virtualization to continuously and proactively monitor intersections and arterials that are equipped with Iteris’ advanced detection sensor systems.
Transportation agencies using Iteris' VantageCare to augment their existing traffic management operations will receive data-driven analysis and management reports to improve performance at key signalized intersections equipped with Iteris detection technology. The solution helps agencies proactively identify and address a variety of opportunities to optimize detection.
VantageCare is a key component of Iteris’ ClearMobility™ Platform, the most complete solution for continuously monitoring, visualizing and optimizing mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. The ClearMobility Platform applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility.
"We are thrilled to announce the launch of VantageCare, a software-enabled managed service that utilizes process virtualization to enable transportation agencies nationwide to proactively optimize and maintain the health of their Iteris detection systems,” said Todd Kreter, senior vice president and general manager, Roadway Sensors at Iteris. "With the addition of VantageCare, transportation agencies can augment their existing traffic management operations, giving them peace of mind and the ability to focus on other priorities, as performance and safety are improved throughout their transportation network.”
About Iteris, Inc.
Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "should,” "will,” "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the capabilities and benefits of our VantageCare solution. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to provide our services in a cost-efficient manner; our ability to introduce, market and gain broad acceptance of our new and existing product and service offerings in the transportation industry; the potential impact of product and service offerings from competitors and other competitive pressures; challenges in the development of software-based solutions generally; and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005047/en/