The battery-powered Bollinger B2 pickup truck won't be seen on the road anytime soon. The Michigan-based startup said it is canceling consumer orders for its B2 pickup and B1 SUV in order to focus on its commercial truck business.
The $125,000 B1 and B2 were part of a squadron of EV offerings hitting the market from Rivian, GMC, Chevy, Ford, Tesla and Lordstown Motors.
The announcement is an indication the demand for EV trucks is in the commercial sector.
Old National tops expectations
Old National Bancorp reported net income of $56.2 million in its fourth quarter.
The Evansville-based bank said it had earnings of 34 cents per share. Earnings, adjusted for non-recurring costs, were 37 cents per share.
The holding company for Old National Bank posted revenue of $208.4 million in the period. Its revenue net of interest expense was $201.7 million, beating Street forecasts. Three analysts surveyed by Zacks expected $201.4 million.
For the year, the company reported profit of $277.5 million, or $1.67 per share. Revenue was reported as $824.5 million.
PNC earnings fall in 4th quarter
PNC Financial Services said it had $1.3 billion in fourth quarter net income, or $2.86 per diluted share, down from more than $1.4 billion, or $3.26 per share, in the same quarter 2020.
The Pittsburgh-based company said adjusted earnings per share for the final months of last year would have been $3.86 if excluding $438 million of pre-tax integration costs related to its June acquisition of BBVA USA.
For the full 2021 year, PNC reported $5.7 billion, or $12.70 diluted earnings per share, compared to $7.5 billion for the year ended Dec. 31, 2020, or $16.96 per share.