Chain Bridge I (OTC:CBRGF) Stock, Quote.Headers.trade-ideas

Chain Bridge I is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Chain Bridge I

Neogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEOG#NASDAQ">NEOG</a>) reported quarterly earnings of $0.07 per share which missed the analyst consensus estimate of $0.09 by 22.22 percent. The company reported quarterly sales of $217.000 million which beat the analyst consensus estimate of $215.056 million by 0.90 percent. This is a 5.23 percent decrease over sales of $228.987 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

News

NEOG

Neogen Q1 2025 Adj. EPS $0.07 Misses $0.09 Estimate, Sales $217.000M Beat $215.056M Estimate

HC Wainwright &amp; Co. analyst Kevin Dede reiterates MARA Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) with a Buy and maintains $27 price target.

Price Target

Reiteration

Analyst Ratings

MARA

HC Wainwright & Co. Reiterates Buy on MARA Holdings, Maintains $27 Price Target

Preliminary average AUM for the quarter ended September 30, 2024 was $246.0 billion.&nbsp;

General

Lazar's Preliminary Assets Under Management As Of September 30, 2024 Totaled Approximately $247.7B, Including Market Appreciation Of $3B, Foreign Exchange Appreciation Of $1.5B And Net Outflows Of $1.3B

Jeff Bezos&#8217; Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) once nearly ran out of cash 24 years ago, during the dot-com bubble crisis of 2000. It was once reportedly left with just 10 months of cash, with its stock price plunging to $7 from $107.
Fast forward to 2024, Amazon is expected to have nearly as much cash on its balance sheet as rivals Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) combined by 2027.
What Happened: Amazon is projected to amass $127.4 billion in cash and short-term investments by the end of the year, according to S&amp;P Global Market Intelligence, <a href="https://www.businessinsider.in/artificial-intelligence/news/amazon-is-becoming-big-techs-king-of-cash-and-wall-street-wants-a-piece-of-it/articleshow/114096991.cms">reported</a> Business Insider.
This figure surpasses the cash reserves of tech giants Alphabet Inc. and Microsoft, which stand at $112.8 billion and $108.1 billion, respectively.
By 2027, Amazon&#8217;s cash reserves are expected to approach $400 billion, a significant shift for a company traditionally focused on reinvestment rather than cash accumulation.
Wall Street is now speculating whether Amazon will follow in the footsteps of other tech companies by returning some of this cash to shareholders through buybacks or dividends.
See Also: <a href="https://www.benzinga.com/news/24/09/40899599/elon-musk-said-spacex-competitors-only-take-up-less-than-we-do-and-they-take-nothing-down-and-they-g">Elon Musk Said SpaceX Competitors Only &#8216;Take Up Less Than We Do, And They Take Nothing Down, And They Get Paid Twice As Much&#8217;</a>
Apple is projected to have a cash pile of $106.51 billion, while Microsoft is expected to amass $300.88 billion, putting the combined total at $407.39 billion for two of the world's most valuable companies by market capitalization.
For context, during the dot-com bubble crash in 2000, Amazon's stock plummeted and the company's cash reserves <a href="https://www.barrons.com/articles/SB953335580704470544">were</a> falling, too. Bezos, though, was unfazed. "Well, we are a famously unprofitable company," he said.
"And that is a conscious strategy and an investment decision."
Why It Matters: Amazon&#8217;s increasing cash reserves come at a time when the company is making strategic moves to bolster its market position.
Recently, <a href="https://www.benzinga.com/markets/equities/24/10/41242937/cathie-woods-ark-invest-trades-bets-14m-on-amazon-shares-dumps-robinhood-stock-worth-36m-embrace">Cathie Wood&#8217;s Ark Invest</a> made a significant investment in Amazon, purchasing 76,505 shares despite concerns about the company&#8217;s growth trajectory. This move followed a Wells Fargo downgrade, citing slowing growth and increased competition.
Additionally, Amazon is preparing for the holiday season by <a href="https://www.benzinga.com/news/24/10/41185124/amazon-to-boost-workforce-by-250k-for-2024-holidays-joining-retail-hiring-surge">boosting its workforce</a> by 250,000 to meet the demands of the retail surge. This hiring spree highlights Amazon&#8217;s commitment to maintaining its competitive edge in the retail sector.
As Amazon&#8217;s cash reserves grow, the company faces pressure to balance reinvestment strategies with potential shareholder returns, a decision that could significantly impact its future financial trajectory.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#039;We are famously unprofitable&#039;: 36-year-old Jeff Bezos on Amazon &#x7C; BBC Global &#x7C; BBC Global" width="500" height="281" src="https://www.youtube.com/embed/4gryjng9VaY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/10/41162458/amazon-ceo-andy-jassy-said-prime-video-will-have-meaningfully-fewer-ads-than-rivals-2-month">Amazon CEO Andy Jassy Said Prime Video Will Have &#8216;Meaningfully Fewer Ads&#8217; Than Rivals. 2 Months Later, Streaming Giant Is Reportedly Set To Get More Ads</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Equities

Markets

Tech

AAPL

AMZN

MSFT

Jeff Bezos-Led Amazon Almost Ran Out Of Cash 24 Years Ago. At $400B, It Is Now Projected To Have As Much Cash As Apple And Microsoft Combined By 2027: Here's More

Results showed a statistically significant and clinically meaningful improvement in the final OS in all-comers (cohort 1) as well as in those patients with homologous recombination repair (HRR) gene-mutated mCRPC (cohort 2), compared to XTANDI alone.

Pfizer Reports Topline Results From Final Prespecified Overall Survival Analysis Of TALAPRO-2 Study; TALZENNA In Combination With XTANDI Prolongs Overall Survival

HC Wainwright &amp; Co. analyst Mike Colonnese initiates coverage on Galaxy Digital Hldgs (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GLXY#TSX">GLXY</a>) with a Buy rating and announces Price Target of C$24.

Initiation

TSX:GLXY

HC Wainwright & Co. Initiates Coverage On Galaxy Digital Hldgs with Buy Rating, Announces Price Target of C$24

Net sales for the 5-week fiscal month ended October 5, 2024 decreased&nbsp;2.5 percent&nbsp;to&nbsp;$100.6 million&nbsp;from net sales of&nbsp;$103.1 million&nbsp;for the prior year 5-week fiscal month ended September 30, 2023.

Buckle September Comparable Store Net Sales Decrease 4.3%

Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) now has an 8.7% stake in California-based EV maker Faraday Future (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>), according to a filing made by the data analytics company with the U.S. Securities and Exchange Commission (SEC) on Tuesday.
What Happened: According to the filing, Palantir received 827,526 shares of Faraday Future on Oct. 2 &#8220;as payment for certain outstanding receivables,&#8221; taking its total number of the EV maker&#8217;s shares to 1,080,294. The filing does not provide details on the payment including the amount or the service it was made for. 
Faraday Future shares closed up 5.2% at $2.45 on Wednesday, meaning that Palantir&#8217;s stake in the EV maker is currently valued at over $2.6 million. However, the stock is down by nearly 90% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>. 
Neither Faraday Future nor Palantir immediately responded to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comment.
Why It Matters: Faraday Futures is struggling. For the three months through the end of June, the company reported revenue of just $293,000 and a net loss of $108.7 million. 
The company has also managed to deliver only a few number of its electric vehicles to date. 
Faraday got listed in 2021 by merging with a special purpose acquisition company (SPAC) like several other EV makers then. EV maker Lordstown Motors, which went public in 2020 via a merger with a SPAC, filed for bankruptcy in 2023 and <a href="https://www.benzinga.com/news/23/06/33073049/lordstown-motors-receives-nasdaq-delisting-notice-after-filing-for-bankruptcy">was subsequently delisted</a>.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41264769/teslas-latest-fsd-update-smooths-out-jittery-car-visualizations-fixing-4-year-bug" target="_blank" rel="noreferrer noopener">Tesla's Latest FSD Update Smooths Out Jittery Car Visualizations, Fixing 4-Year Bug</a></li>
</ul>
Photo courtesy: Faraday Future

FFIE

PLTR

Palantir's Stake In EV Maker Faraday Future Touch Nearly 9% After Converting Receivables Into Equity

The imminent release of the<a href="https://www.benzinga.com/markets/24/10/41251483/september-inflation-preview-consumer-price-data-holds-the-key-to-feds-next-interest-rate-move"> September consumer price inflation report </a>is keeping sentiment guarded as the index futures trade modestly lower early Thursday. Traders may have to navigate past the September consumer price inflation report and the weekly jobless claims data, both of which have implications for rates. The inflation data is widely expected to confirm the sustained downtrend, while jobless claims may have perked up in the recent week. 
China announced stimulus to support the domestic stock market, which sent stocks in the mainland and Hong Kong higher. Crude oil and gold are all weaker but the bond yield has ticked. Traders may stay focused on the after-effects of Hurricane Milton and the simmering tensions in the Middle East.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.15%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.12%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.09%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.24%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged down 0.13% to $576.41 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved down 0.16% to $492.35, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
Strength in IT, financial, industrial and healthcare stocks pushed the Dow Jones Industrial Average and the S&amp;P 500 Index to fresh records on Wednesday. The S&amp;P 500 Index also clocked a new intraday high. While the tech-heavy Nasdaq Composite also rose, it ended at its highest level since July 16.
Stocks largely ignored the Hurricane Milton threat, which made its landfall in Florida, and digested comments from Fed officials and also information gleaned out of the Fed minutes. 
Among S&amp;P 500 sector classes, only communication services and utility stocks experienced some weakness.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.60%</td>
<td>18,291.62</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.71%</td>
<td>5,792.04</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.03%</td>
<td>42,512.00</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.26%</td>
<td>2,200.59</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
A Morgan Stanley strategist on Wednesday weighed on the impact of the potential trade policies of the two presidential candidates. &#8220;Trade policy is among the top policy areas that may be most sensitive to the presidential election result,&#8221; said Monica Guerra, Head of Policy, Morgan Stanley Wealth Management. 
The impact of tariffs on the economy could be wide-ranging, pressuring consumers and affecting growth, inflation and stock market performance, she said. Vice President Kamala Harris&#8217; trade policy appears to be a continuation of President Joe Biden's, but is still opaque, creating some uncertainty for investors, while Republican candidate Donald Trump&#8217;s proposals included increasing tariffs on China as well as a universal tariff, which could pressure productivity, growth and add inflationary pressure, she said.
The strategist recommended investors mitigate the impact of tariffs by considering defensive sectors such as consumer staples, healthcare and utilities, as well as select retailers with less exposure to offshore production.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release its customary weekly jobless claims report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 230,000 for the week ended Oct. 5, up from 225,000 in the previous week.</li>
<li>The September CPI report, due at 8:30 a.m. EDT, is expected to show a 0.1% month-over-month increase in the headline number, a tick down from the 0.2% growth in August. The annual rate of CPI is expected to slow from 2.5% to 2.3%. The monthly and annual core CPI rates for September are expected at 0.2% and 3.2%, respectively, compared to August&#8217;s 0.3% and 3.2%.</li>
<li>Among the Fed speakers due to speak are:
<ul>
<li>Federal Reserve Governor Lisa Cook: 9:15 a.m. EDT</li>
<li>Chicago Fed President Austan Goolsbee (TV interview): 10 a.m. EDT</li>
<li>Richmond Fed President Tom Barkin: 10:30 a.m. EDT</li>
<li>New York Fed President John Williams: 11 a.m. EDT</li>
</ul>
</li>
<li>The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and 30-year bonds at 1 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>GXO Logistics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXO#NYSE">GXO</a>), a spin-off unit of XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>), rose about 6% <a href="https://benzinga.grsm.io/register174">in premarket trading </a>after Bloomberg said the company is rumored to be exploring a potential sale.</li>
<li>10x Genomics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NASDAQ">TXG</a>) slumped over 21% following the company&#8217;s preannouncement.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose over 1% <a href="https://www.benzinga.com/news/24/10/41266991/teslas-robotaxi-to-take-flight-with-doors-that-open-like-butterfly-wings-report">ahead of its Robotaxi event.</a></li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) and Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) are among the notable companies due to <a href="https://www.benzinga.com/calendars/earnings">report their quarterly results ahead of the market open.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures climbed sharply ahead of the inflation data and gold futures were modestly higher. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back nearly 2% over the past 24 hours and has slipped under $61K. The 10-year Treasury note yield rose 1.5 points to 4.082%.
Most major Asian markets ended higher for the day, as domestic traders drew inspiration from the positive close on Wall Street overnight. The Chinese and Hong Kong markets led the gains in the region after the <a href="https://www.benzinga.com/markets/asia/24/10/41265266/alibaba-jd-com-xpeng-soar-in-hong-kong-as-pbocs-fresh-stimulus-to-boost-stock-market-sends-chinese-m">People&#8217;s Bank of China announced new stimulus</a> to support the stock market. 
On the other hand, European stocks retreated in early trading 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41266843/marjorie-taylor-greene-boosts-stock-portfolio-with-ai-exposure-buys-jpmorgan-and-this-hot-magnif">Marjorie Taylor Greene Boosts Stock Portfolio With AI Exposure, Buys JPMorgan And This Hot Magnificent 7 Stock: Here&#8217;re Congresswoman&#8217;s Latest Trades</a></li>
</ul>
Photo via Shutterstock

Futures

Economics

Federal Reserve

Trading Ideas

$BTC

TLRY

TSLA

Nasdaq, S&P 500 Futures Slip As September CPI Data Looms, Tesla On Radar Ahead Of Robotaxi Event: Strategist Offers Stock Tips Aligned With Presidential Candidates' Trade Policies

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates Americas Gold And Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/USAS#AMEX">USAS</a>) with a Buy and maintains $0.8 price target.

USAS

HC Wainwright & Co. Reiterates Buy on Americas Gold And Silver, Maintains $0.8 Price Target

Needham analyst David Saxon initiates coverage on Align Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>) with a Hold rating.

ALGN

Needham Initiates Coverage On Align Tech with Hold Rating

Needham analyst Laura Martin reiterates Taboola.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBLA#NASDAQ">TBLA</a>) with a Buy and maintains $5 price target.

TBLA

Needham Reiterates Buy on Taboola.com, Maintains $5 Price Target

<ul>
<li>Company announces updated Phase 1b clinical data on ACTengine IMA203 targeting PRAME in 28 heavily pretreated metastatic melanoma patients with substantially enhanced maturity compared to the last data update in May 2024 and provides the first report on progression-free survival (PFS) and overall survival (OS).</li>
<li>Based on the Phase 1b data, the Company will proceed directly to a registration-enabling Phase 3 trial.</li>
<li>Regulatory pathway and clinical trial design for IMA203 finalized following FDA Type D meetings and meeting with the Paul Ehrlich Institute (PEI); RP2D and CMC package confirmed.</li>
<li>IMA203 continues to maintain a favorable tolerability profile in patients in Phase 1a and Phase 1b treated across all dose levels.</li>
<li>IMA203 demonstrates a confirmed objective response rate of 54% with median duration of response of 12.1 months in Phase 1b.</li>
<li>Median PFS is 6 months, comparing favorably to the IMA203 Phase 1a dose escalation median PFS of 2.6 months; patients with deep responses show median PFS of more than one year; median OS not reached.</li>
<li>Phase 3 trial, "SUPRAME," will enroll 360 patients with unresectable or metastatic melanoma post treatment with a checkpoint inhibitor (2L+) and will randomize patients 1:1 for treatment with IMA203 or investigator's choice .</li>
<li>Primary endpoint for full approval will be median PFS, which constitutes the fastest pathway to registration in this patient population.</li>
<li>SUPRAME Phase 3 trial is on track to commence in December 2024; enrollment forecasted to be completed in 2026 with a pre-specified interim analysis planned for early 2026</li>
</ul>

Biotech

Health Care

IMTX

Immatics Announced Updated Phase 1B Data On ACTengine IMA203 TCR-T Targeting PRAME In Melanoma Patients And Provided An Update On Upcoming Phase 3 SUPRAME Trial Of IMA203 In Metastatic Melanoma Patients

<table border="0" cellpadding="0" cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
4Q24 Forecast
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Total Revenue YoY
</td>
<td colspan="1" rowspan="1">
Up&nbsp;2%&nbsp;-&nbsp;4%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Operating Margin
</td>
<td colspan="1" rowspan="1">
11%&nbsp;-&nbsp;13%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Earnings Per Share
</td>
<td colspan="1" rowspan="1">
$1.60&nbsp;-&nbsp;$1.85
</td>
</tr>
</tbody>
</table>
<table border="0" cellpadding="0" cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
1Non-GAAP measures; Refer to Non-GAAP reconciliations for historical comparison figures
</td>
</tr>
</tbody>
</table>

Guidance

Delta Air Lines Expects Q4 Total Revenue Growth Of 2%-4%, Operating Margin Of 11%-13%, And EPS Of $1.60-$1.85 (Est $1.69)

HC Wainwright &amp; Co. analyst Scott Buck maintains Intrusion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTZ#NASDAQ">INTZ</a>) with a Neutral and lowers the price target from $1.5 to $1.

INTZ

HC Wainwright & Co. Maintains Neutral on Intrusion, Lowers Price Target to $1

Contracts

SABR

Riyadh Air Collaborates With Sabre To Adopt SabreMosaic Offer Optimization Technology That Provides The Intelligence To Be The First Carrier To Operate On Offer- And Order-based Technology Across The Entire Retail Spectrum From Its First Day Of Operations In 2025

As the <a href="https://www.benzinga.com/news/24/10/41265000/uber-announces-measures-to-ramp-up-electrification-of-its-fleet-ahead-of-teslas-robotaxi-unveil">race to dominate the robotaxi</a> sector intensifies, Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) is leveraging its extensive ridesharing network to compete against Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) subsidiary, Waymo.
What Happened: Uber has shifted its focus from developing autonomous vehicles to expanding its marketplace of riders and drivers. This approach has created a strong network effect, making it difficult for competitors to match its scale, <a href="https://www.businessinsider.in/tech/news/who-will-win-the-robotaxi-race-tesla-waymo-or-uber/articleshow/114080058.cms">reported</a> Business Insider on Thursday. 
Uber&#8217;s business model, which avoids the costs associated with owning and maintaining vehicles, has proven financially successful, generating $1.7 billion in free cash flow in the second quarter.
In contrast, Tesla and Waymo face the challenge of building and maintaining costly autonomous fleets. Analysts at Bernstein highlight the complexity and expense of operating a large-scale robotaxi network, which includes regulatory hurdles and high fixed costs. 
&#8220;There are real challenges around scaling a pureplay autonomous network, including the underlying technology, regulatory approvals, building a large-enough supply-base to run a high quality network (especially during peak hours when consumers need the service the most), and ultimately getting customers to adopt the service,&#8221; the analyst wrote, according to the report. 
Uber&#8217;s existing network and user base offer a significant advantage, as it can integrate autonomous vehicles from partners like Waymo and Cruise, enhancing its service without incurring the same level of expenses.
Uber&#8217;s ability to aggregate demand positions it as a valuable partner for autonomous vehicle companies, providing access to a large and active user base. This strategic advantage could play a crucial role in the evolving robotaxi landscape.
See Also: <a href="https://www.benzinga.com/news/24/10/41266991/teslas-robotaxi-to-take-flight-with-doors-that-open-like-butterfly-wings-report">Tesla&#8217;s Robotaxi To Take Flight With Doors That Open Like Butterfly Wings: Report</a>
Why It Matters: The robotaxi market is a battleground for major players like Tesla, which is exploring scenarios for its future valuation based on its autonomous driving capabilities. Analyst Pierre Ferragu has <a href="https://www.benzinga.com/markets/equities/24/10/41265296/teslas-future-valuation-analyst-pierre-ferragu-unveils-scenarios-ranging-from-1-4-to-4-7-trillio">outlined potential outcomes</a> for Tesla&#8217;s ambitions, emphasizing the importance of achieving unsupervised full self-driving capability.
Despite optimism surrounding Tesla&#8217;s robotaxi plans, some analysts, like Ming-Chi Kuo, predict mass production may not <a href="https://www.benzinga.com/general/24/10/41257117/teslas-robotaxi-event-could-investor-hopes-be-premature-analyst-predicts-mass-production-not-until-2">occur until 2027</a>. Meanwhile, Baidu is considering <a href="https://www.benzinga.com/markets/equities/24/10/41244101/teslas-party-could-be-crashed-by-baidu-as-chinese-rival-considers-global-robotaxi-expansion">expanding its robotaxi unit</a>, Apollo Go, into international markets, adding to the competitive landscape.
Moreover, Gary Black, Managing Partner at The Future Fund, has expressed skepticism about Tesla&#8217;s ability to maintain a monopoly in the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40333845/gary-black-highlights-skepticism-over-teslas-autonomy-ambitions-amid-competition-fr">autonomous driving market</a>, citing competition from Waymo, Baidu, and others.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41198872/teslas-we-robot-event-will-likely-feature-robotaxi-25k-ev-and-optimus-updates-says-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s &#8216;We, Robot&#8217; Event Will Likely Feature Robotaxi, $25K EV And Optimus Updates, Says Munster: Will Elon Musk Spring A Surprise With This Product Announcement?</a></li>
</ul>
Image Via Unsplash 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Analyst Color

GOOG

GOOGL

UBER

As Elon Musk Gears Up For Highly Anticipated Robotaxi Unveil, This Ridesharing Network's Autonomous Driving Plans Could Put Pressure On Tesla's Amibitions

Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) reported quarterly earnings of $1.50 per share which missed the analyst consensus estimate of $1.52 by 1.32 percent. This is a 26.11 percent decrease over earnings of $2.03 per share from the same period last year. The company reported quarterly sales of $15.677 billion which beat the analyst consensus estimate of $14.674 billion by 6.84 percent. This is a 1.22 percent increase over sales of $15.488 billion the same period last year.

Delta Air Lines Q3 2024 Adj. EPS $1.50 Misses $1.52 Estimate, Sales $15.677B Beat $14.674B Estimate

The deal is expected to close at the end of October and is subject to the satisfaction of customary closing conditions.

Asset Sales

Babcock & Wilcox To Sell Its Italy-based SPIG S.p.A. Group Of Companies And Sweden-Based Babcock & Wilcox Vølund AB To Funds Managed By AUCTUS For $40M

Top Stock Ideas Sent Daily — Join and Gain Your Edge

Top Stock Ideas Sent Daily — Join and Gain Your Edge

Comments

Chain Bridge I

Chain Bridge I (CBRGF) Forecast

Chain Bridge I (OTC:CBRGF) Stock, Quote.Headers.trade-ideas