Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Tuesday, May 7th. I'm Julie Morgan.

Lucid gives up gains.

Japan may intervene if the yen fluctuates excessively,

and last night's launch of the Boeing Starliner was a no-go.

Lucid gained 9.5% on Monday, but those gains have been nearly erased after the company

announced Q1 results.

Lucid missed both profit and revenue estimates, even as the company delivered 39.9% more cars

in Q1 year over year.

The California EV Maker delivered nearly 2,000 cars in Q1 resulting in 172.7 million dollars in revenue, a 16% improvement from a year ago, but 9.74 million below expectations.

Increased R&D and higher interest income contributed to a loss of 30 cents per share, narrower than a year ago, but missed expectations by five cents.

Japan's Vice Minister of Finance for International Affairs told reporters on Tuesday that the Japanese government may have

to intervene to support the yen in case of irregulars speculation driven foreign exchange moves.

He cautioned that when there are excessive fluctuations or

disorderly movements due to speculation, the market is not functioning and

the government may have to take appropriate action. Many suspect that Japanese authorities

intervened last week spending more than the equivalent of 58.3 billion dollars

to support the weakening yin which had fallen to its lowest levels in over three decades.

The Yen is currently trading at 15447.

While U.S. Treasury Secretary Janet Yellen refused to comment on rumors of Tokyo's intervention.

She acknowledged that the YEN moved quite a bit in a relatively short period of time,

adding that Washington expects these interventions to be rare in consultation to take place.

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