Uber Technologies' potential acquisition of Germany's Delivery Hero is expected to bring economies of scale and expand its global presence. Eric Clark of Accuvest Global Advisors notes that users of both Uber's mobility and delivery services typically generate three times more bookings, indicating significant potential for gross bookings growth. Uber finds it more cost-effective to increase business from existing users rather than acquiring new ones. Delivery Hero shares remained flat following this news.
Volvo AB reported better-than-expected truck orders, suggesting that profitability could improve from already solid levels, according to RBC's Nick Housden. The Swedish truck manufacturer surprised analysts with robust order intake in both its truck and construction equipment divisions, benefiting from a cyclical recovery. Volvo's sales and adjusted EBIT surpassed consensus estimates by 1% and 2% respectively, leading to a 2.3% rise in its shares to 349.10 kronor.
XPeng's development of humanoid robots is viewed as a longer-term initiative that is unlikely to significantly impact near-term earnings, as per Macquarie's Eugene Hsiao. The Chinese electric vehicle maker plans a global launch of these robots next year, aiming for production of over 1,000 units monthly by the end of 2026. However, immediate applications are limited to retail, customer service, and manufacturing. XPeng shares dropped 9.1% to 51.40 Hong Kong dollars.
