Research
BNP Paribas Upgrades Pony AI to Outperform From Neutral
Pony AI Inc. Sponsored ADR (PONY) has an average rating of buy and mean price target of $19.40, according to analysts polled by FactSet.
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Wire
Uber Launches First Autonomous Rides in Europe Via App in Zagreb, Croatia
Uber Technologies (UBER) launched autonomous rides in Zagreb, Croatia, marking the company's first driverless service available through its booking application in Europe.The service combines Pony AI's (PONY) autonomous-driving technology, Verne's fleet ownership and operating capabilities, and Uber's ride-hailing platform.A licensed operator will be onboard at launch to monitor the vehicle as part of a phased rollout toward fully driverless operations, Uber said Wednesday in a statement.The companies plan to use Zagreb as a model for expanding the service to additional European cities, with more markets to be announced later this year.Price: $77.94, Change: $+3.28, Percent Change: +4.39%
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Asia Markets
Update: US Equity Futures Mixed Pre-Bell Friday Following Record-High Overnight Close for S&P 500
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Friday after a record-high overnight close for the S&P 500.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.3% higher.The S&P 500 hit an intraday all-time high of 7,816.70 on Thursday before closing at 7,798.99, which was also an all-time high.US Defense Secretary Pete Hegseth said the US can keep the naval blockade on Iran "indefinitely," according to multiple media reports. US Treasury Secretary Scott Bessent said that the US planned to apply measures on the Middle Eastern nation that have "never been seen" before, including economic isolation, according to reports that cited an interview on Newsmax.Oil prices were slightly higher, with front-month global benchmark North Sea Brent crude down 0.1% at $86.97 per barrel and US West Texas Intermediate crude was flat at $81.22 per barrel.US retail sales fell 0.6% in July, following a 0.2% gain in the prior month and compared with expectations for a 0.1% increase in a survey compiled by Bloomberg.The University of Michigan consumer sentiment index for August, slated for 10 am ET, is expected at 55.0, down from 55.2 previously.In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.In equities, SpaceX (SPCX) stock was up 1.3% after company founder and Tesla (TSLA) CEO Elon Musk disclosed beneficial ownership of 6.42 billion SpaceX shares as of June 30, representing 48.4% of the company, in a regulatory filing. A Reuters report also said that Alphabet (GOOG, GOOGL) held 551.2 million shares of SpaceX valued at about $94.2 billion at the end of Q2.Uber Technologies (UBER) shares rose 2.3% after the company and Pony.ai (PONY) said late Thursday that they expanded their partnership to deploy over 2,000 robotaxis across Europe. Reddit (RDDT) stock was up more than 11% after S&P Dow Jones Indices said Thursday that the company is replacing AvalonBay Communities (AVB) in the S&P 500 prior to the opening of trading on Aug. 18.On the losing side, Applied Materials (AMAT) shares fell 6% after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.
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Sectors
Sector Update: Tech Stocks Rise Premarket Tuesday
Technology stocks were rising premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 3.7%.Pony AI (PONY) stock was up 20% after the company raised its 2026 Robotaxi revenue target to more than 3.5 times 2025 levels from a previous target of 3 times, and its year-end Robotaxi fleet size target to more than 3,500 units from 3,000 units.Ouster (OUST) will equip ARGUS Interception's A1-Falke net-based interceptors with its digital sensors, the companies said. Ouster shares were up more than 9% pre-bell.Ituran Location and Control (ITRN) shares were up more than 4% after the company posted higher Q1 earnings and revenue.
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Sectors
Sector Update: Tech
Technology stocks were rising premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 4.1%.Pony AI (PONY) stock was up more than 17% after the company raised its 2026 Robotaxi revenue target to more than 3.5 times 2025 levels from a previous target of 3 times, and its year-end Robotaxi fleet size target to more than 3,500 units from 3,000 units.
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Wire
Pony AI Shares Fall After President Capital Downgrade
Pony AI (PONY) shares were down 1.4% in Tuesday afternoon trading after President Capital downgraded the stock to neutral from buy.Intraday trading volume stood at about 1.3 million shares against a daily average of roughly 4.3 million.Price: $10.25, Change: $-0.15, Percent Change: -1.44%
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Research
President Capital Downgrades Pony AI to Neutral From Buy
Pony AI Inc. Sponsored ADR (PONY) has an average rating of buy and mean price target of $21.40, according to analysts polled by FactSet.
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Sectors
Sector Update: Tech Stocks Rise Premarket Friday
Technology stocks were rising premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) nearly 5% higher.Intel (INTC) stock was up more than 24% after the company reported higher fiscal Q1 adjusted earnings and revenue, and issued fiscal Q2 outlook above analysts' expectations.SAP (SAP) shares were up more than 7% after the company posted higher Q1 earnings and revenue.Pony AI (PONY) expects the total cost of its 2027 Robotaxi in China to drop below 230,000 Chinese renminbi ($33,649), which would be lower than the current starting price of a locally produced Tesla (TSLA) Model 3 in that market, the company said. Pony AI shares were up more than 1% premarket.
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