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The Zacks Analyst Blog Highlights: Alphabet, Volvo and Ford
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For Immediate Release
Chicago, IL – November 21, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Alphabet (GOOGL - Free Report) , Volvo (VLVLY - Free Report) and Ford (F - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Uber to Buy 24,000 Self-Driving Taxis from Volvo
Despite an ongoing lawsuit with Alphabet’s Waymo and the departure of one of its senior autonomous driving engineers earlier this year, Uber has made a huge step forward in its own quest to create a self-driving car future.
Partnering with Swedish manufacturer Volvo, the ride-hailing giant is planning on buying up to 24,000 vehicles from the automaker that would serve as Uber’s self-driving taxi fleet. The deal is a non-exclusive agreement that would run from 2019 to 2021, and would provide Uber with Volvo’s flagship XC90 SUVs equipped with autonomous technology.
Jeff Miller, head of auto alliances at Uber, said that this agreement puts Uber on a “path towards mass produced self-driving vehicles at scale,” according to a statement.
This is not Uber’s first partnership with Volvo. The two companies have been working together for a while now to bring self-driving technology to the road. In Pittsburgh and Tempe, Arizona, Uber has been testing a self-driving Volvo prototype for a little over a year now, with safety drivers in the front seat ready to intervene if the program fails or stalls.
Uber has also been testing self-driving Ford Fusions in Pittsburgh, and actually offered passengers rides in these vehicles.
These some 24,000 cars have yet to be built, and the self-driving system that would be implemented is still under development by Uber’s Advanced Technologies Group; this group focuses on self-driving advancement, vehicle safety, and mapping. No financial details of the purchase were disclosed.
Of course, Uber is not the only ride-sharing company making headway in the self-driving car industry. Its primary rival, Lyft, just struck a research agreement with Waymo this year, as well as secured deals with Ford, Nutonomy, and Silicon Valley startup Drive.ai to incorporate self-driving cars into its growing fleet. Additionally, Lyft set up a separate unit this summer to develop autonomous vehicle technology.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >>
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Alphabet, Volvo and Ford
For Immediate Release
Chicago, IL – November 21, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Alphabet (GOOGL - Free Report) , Volvo (VLVLY - Free Report) and Ford (F - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Uber to Buy 24,000 Self-Driving Taxis from Volvo
Despite an ongoing lawsuit with Alphabet’s Waymo and the departure of one of its senior autonomous driving engineers earlier this year, Uber has made a huge step forward in its own quest to create a self-driving car future.
Partnering with Swedish manufacturer Volvo, the ride-hailing giant is planning on buying up to 24,000 vehicles from the automaker that would serve as Uber’s self-driving taxi fleet. The deal is a non-exclusive agreement that would run from 2019 to 2021, and would provide Uber with Volvo’s flagship XC90 SUVs equipped with autonomous technology.
Jeff Miller, head of auto alliances at Uber, said that this agreement puts Uber on a “path towards mass produced self-driving vehicles at scale,” according to a statement.
This is not Uber’s first partnership with Volvo. The two companies have been working together for a while now to bring self-driving technology to the road. In Pittsburgh and Tempe, Arizona, Uber has been testing a self-driving Volvo prototype for a little over a year now, with safety drivers in the front seat ready to intervene if the program fails or stalls.
Uber has also been testing self-driving Ford Fusions in Pittsburgh, and actually offered passengers rides in these vehicles.
These some 24,000 cars have yet to be built, and the self-driving system that would be implemented is still under development by Uber’s Advanced Technologies Group; this group focuses on self-driving advancement, vehicle safety, and mapping. No financial details of the purchase were disclosed.
Of course, Uber is not the only ride-sharing company making headway in the self-driving car industry. Its primary rival, Lyft, just struck a research agreement with Waymo this year, as well as secured deals with Ford, Nutonomy, and Silicon Valley startup Drive.ai to incorporate self-driving cars into its growing fleet. Additionally, Lyft set up a separate unit this summer to develop autonomous vehicle technology.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.