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What the Club is watching Friday — Rivian backs EV goal, Six Flags and Lennar downgraded

Published Fri, Aug 12 20229:18 AM EDT

Jeff Marks @jeffmarkscnbc

What we are looking at Aug. 12, 2022 This week's pattern extended to Friday with oil down and stock futures pointing to a higher open. The S & P 500 is on pace for its fourth weekly gain in a row. Rivian Automotive (RIVN) backs its full-year production target of 25,000 with growth in reservations to 98,000 from 90,000, but increased its loss estimate for 2022. Morgan Stanley says the electric vehicle maker has enough liquidity to last through most, if not all, of fiscal year 2023. Mizuho lowered price target on RIVN shares to $65 from $70. Illumina (ILMN) slid nearly 15% in premarket trading after reporting misses on the top and bottom lines and provided a weak outlook. The gene-sequencing company cites tough economy and customers delaying lab expansions because