Diesel at all-time high of 644 threatens company earnings, JB Hunt warns
Diesel prices have hit an all-time high of 644 and gasoline is about 10 cents off its May peak, raising the question of whether energy costs will start shocking company earnings. JB Hunt warned earlier this week that its bottom line is being hit by the swift rise in diesel prices, saying it expects a quarter-to-quarter profit decline of 5 to 10 percent because pricing cannot be adjusted quickly enough. PNC Asset Management Group CIO Amanda Agati said she does not expect energy costs to crack the trajectory of earnings growth, noting positive revisions coming into the end of the third quarter remain positive and largely broad-based. Agati said companies are scrambling to hedge in this environment and that margins have been impressive for years, but warned that if energy prices remain elevated a year from now, the story would be very different. The discussion comes as diesel sits just pennies away from an adjusted inflation record.
Uber Ordered to Pay $40 Million in Wrongful Death Case
A retired California judge ordered Uber Technologies to pay US$40 million in a wrongful death case tied to its ride hailing service. The ruling puts the company back under legal scrutiny as its shares trade at US$70.87, down 5.08% over the past 30 days and 14.47% year to date, though the 5 year total shareholder return stands at 55.83%. The most followed narrative on Uber Technologies assigns a fair value of $116, implying the stock is 39% undervalued, based on an 8.38% discount rate and assumptions that Uber sustains its current platform strength while absorbing higher investment into autonomous partnerships. That narrative assumes forecast revenue growth of 11.8% a year and expected earnings growth of 11.5% a year, both slower than the broader US market, and notes declining profit margins in the latest year. The thesis could be knocked off course if autonomous partners capture a larger share of trip economics, or if legal liabilities escalate materially from here.
Uber Ordered to Pay $40 Million to Parents of UCLA Graduate Killed After Driver Abandoned Her on Freeway
A retired California judge has ordered Uber Technologies, Inc. to pay $40 million to the parents of Emily Normandin-Parker, a 23-year-old UCLA graduate who was killed after an Uber driver abandoned her alongside freeway traffic during what was supposed to be a safe ride home. The award follows a five-day arbitration in which retired Judge Richard A. Stone rejected Uber's argument that it merely operates a technology platform and held that the company functions as a common carrier with a non-delegable duty to protect its passengers. Judge Stone further ruled that Proposition 22 does not shield Uber from vicarious liability for the negligence of its drivers. The arbitration arose from the August 12, 2023 death of Emily Normandin-Parker, who was left stranded on State Route 73 after Uber driver Vu Tran illegally stopped on a freeway gore point and ordered her and a friend out of the vehicle. The $40 million award provides $20 million each to Carol Normandin and Ken Parker for the wrongful death of their daughter. Emily's parents were represented by Panish | Shea | Ravipudi LLP attorneys Rahul Ravipudi, Ian Samson, and Matt Coe-Odess.
Uber's $15 Billion Delivery Hero Buyout Clears Key Hurdle as Boards Back Offer
Delivery Hero's management and supervisory boards formally recommended on September 2, 2026, that shareholders accept Uber Technologies' takeover offer, moving the roughly $15 billion deal for the German food-delivery platform a step closer to completion. Under the agreement, Uber will pay €41.50 per share, implying an equity value of $14.8 billion, and Delivery Hero's second-largest shareholder, Prosus, has irrevocably committed to tender its 17% stake. The shareholder acceptance period runs until November 5. Uber already owned roughly 25% of Delivery Hero and expects the deal to increase non-GAAP EPS upon closing, with high-single-digit percentage accretion by the third year. The combined company would operate across 99 markets and generate $236 billion in pro forma gross bookings, though the transaction still requires regulatory approvals that could delay it or force concessions.
Uber and WeRide Win Spain's First Level 4 Permit, Adding Madrid as Fourth City
Uber Technologies Inc. and WeRide, together with AVOMO, have secured Spain's first national permit covering level 4 autonomous passenger vehicles, making Madrid the fourth city in the Uber-WeRide partnership. The permit was issued by Spain's Directorate General of Traffic and allows WeRide to test its GXR vehicles and conduct roadmapping throughout Madrid ahead of a commercial launch planned for year-end, starting with 20 vehicles each supervised by an in-car specialist in high-demand areas of Greater Madrid. The Uber-WeRide partnership plans to reach 15 cities globally by 2030, part of an Uber asset-light AV strategy that spans more than 30 partnerships, with Uber expecting to commit over $10 billion across AV investments, infrastructure, and vehicle offtake over the coming years. That multi-partner bet is under strain: Uber and Waymo confirmed in late June that their Phoenix partnership had ended, Waymo is reportedly considering a broader exit, and the NHTSA is investigating Uber AV partner Avride after multiple crashes, while Tesla ramps up its own Cybercab fleet and Waymo has raised $16 billion to accelerate independent growth. Hedge fund ownership was broadly stable, with holders slipping from 153 at the end of Q1 2026 to 151 at the end of Q2 2026, and short interest stood at only 2.29% of float as of August 31, 2026.
CSX Plans Rail Access Push If Union Pacific-Norfolk Southern Merger Proceeds
CSX plans to seek broad access rights if the proposed Union Pacific and Norfolk Southern transcontinental merger is approved. The freight carrier intends to request entry to pivotal corridors and shared terminals that could be controlled by the combined rail operator, arguing the merger could reshape freight flows across the North American rail network. CSX is reacting to the risk that a merged Union Pacific and Norfolk Southern could control critical long haul corridors and terminals connecting into its eastern network, and broad trackage and terminal rights would help keep freight routings contestable for customers relying on multiple rail options. The critical signpost now is the Surface Transportation Board timetable and any formal ruling on the proposed combination, including whether access conditions for CSX are attached. The first detailed STB decision on the merger terms will show how much competitive protection CSX actually secures.
Grab to Complete $900 Million Share Buyback Within 12 Months
Grab Holdings Limited announced plans to complete the remaining approximately $900 million of its authorized share repurchase programs over the next 12 months, subject to market conditions and the trading price of its Class A ordinary shares. Full completion would bring Grab's cumulative repurchases since its first buyback program launched in 2024 to a total of almost $1.75 billion. The repurchases will be funded from existing cash reserves, with gross cash liquidity of $7.4 billion and net cash liquidity of $5.4 billion as of June 30, 2026. Chief financial officer Peter Oey said the company's conviction has strengthened, not softened, and that progress toward its 2028 targets gives it the visibility to commit capital at this scale. Grab currently carries a Zacks Rank #3 (Hold).
J.B. Hunt Warns Rising Costs Could Cut Q3 Earnings 5-10%
J.B. Hunt Transport Services CFO Brad Delco warned at the Morgan Stanley Laguna Conference that rising operating costs could push third-quarter earnings down 5-10% sequentially from the second quarter despite strong freight demand, sending JBHT shares down 13.3% on Sept. 16 from Sept. 15's closing level. The company expects driver-related expenses to rise approximately $25 million sequentially, covering recruitment, advertising, onboarding, training, higher compensation and sign-on, retention and safety bonuses, while sharp increases in diesel prices are expected to create at least a $10 million sequential impact in the third quarter as a timing lag between fuel purchases and surcharge collections squeezes margins. Higher accident claims and group medical costs are adding further pressure, and because intermodal pricing typically adjusts more slowly than truckload costs, a near-term mismatch between revenues and expenses is emerging even as J.B. Hunt reports strong intermodal activity, market-share gains and a record pipeline in its Dedicated Contract Services business. The cautious outlook weighed on other truck operators, with Old Dominion Freight Line falling 3.64% and ArcBest Corporation dropping 3.6% on Sept. 16 amid concerns about industrywide cost inflation. J.B. Hunt currently carries a Zacks Rank #3 (Hold).
ASAP Plans to Set Up MAXUS Vehicle Assembly Plant in Thailand by Mid-2027
Synergetic Auto Performance Public Company Limited, or ASAP, is preparing to establish an electric vehicle assembly plant for the MAXUS brand in Thailand, with operations expected to begin around the middle of next year. Chief Executive Officer Songwit Thitipunya disclosed that the company is currently negotiating the selection of three to four potential sites for the plant and is in discussions with its MAXUS partner from China to finalize the investment structure and shareholding proportions. Assembly of EVs will begin in CKD form, after an initial phase of importing fully built electric vehicles to market in the country. The plan falls under the MAXUS brand, with Evante Company Limited, part of the group, serving as the sole distributor of commercial electric vehicles in Thailand, in order to accommodate growth in the EV market and reduce reliance on imports of completely built-up vehicles. The company assesses that Thailand's electric vehicle market will continue to expand, forecasting a growth rate of approximately 5% compared with the previous year.
Uber and Costco Expand Delivery Partnership to 47 States
Uber Technologies and Costco have significantly expanded their U.S. partnership, making Costco delivery through Uber Eats available to millions of additional customers across 47 states, up from 17 states previously. Nearly 600 Costco locations are now accessible through the Uber Eats platform, offering both on-demand and scheduled delivery of fresh produce, bulk groceries, household essentials and Costco-exclusive merchandise. As part of the expanded partnership, eligible Costco members can receive a 50% discount on an annual Uber One membership during the first year, followed by a 20% discount in subsequent years, while participating Costco stores and Costco.com will offer Uber and Uber Eats gift cards worth $100 for $79.99 for a limited period. Consumers can also purchase a Costco membership directly through Uber Eats for a limited time and receive 30% off their first eligible Costco order, and Uber One members can access delivery without Uber fees on eligible grocery and retail orders exceeding $60. The U.S. expansion builds on the companies' existing international relationship, with Costco also available through Uber Eats in Canada, Mexico, Japan, Taiwan, France and Spain.
Guggenheim Downgrades Lyft to Neutral, Cuts Price Target to $16
Guggenheim Securities downgraded Lyft to Neutral from Buy and cut its price target to $16 from $22, citing lower ride-volume forecasts for the second half of 2027 and a limited sentiment catalyst path ahead. Analyst Michael Morris lowered his second-half 2026 ride-growth forecast to 10.6% from 12.4%, below the 11.9% consensus cited in the note, and cut his 2027 ride-growth forecast to 10.3% from 11.4%, versus a consensus of 10.8%. Morris said he supports Lyft's international expansion and integration efforts but added that the lack of disclosed impact drives uncertainty as the company laps acquisitions, including FREENOW, while pointing to easing comparisons in North America and outsized growth in Canada driven partly by geographic expansion and a DoorDash partnership. Guggenheim said it was encouraged by the recent Waymo Nashville launch but does not anticipate meaningful near-term expansion as the platform focuses on operational learnings, and it lowered its 2027 buyback forecast to $500 million from $548 million to enable M&A flexibility. The $16 price target is based on 8 times 2027 estimated EV/OIBDA, down from 11 times previously, reflecting tempered Ride growth enthusiasm, particularly in the U.S.
Grab to buy 60% stake in Atome Financial for $1.49bn
Grab has signed definitive agreements with Atome Financial, Advance Intelligence Group and other parties to acquire a controlling 60% stake in Atome Financial for $1.49bn in cash. The deal would fold Atome Financial's buy now, pay later loans, consumer cash loans, BNPL cards and digital lending into Grab's financial services unit, which spans payments, digital banks, partner lending, insurance and consumer lending. Atome Financial operates in Singapore, Malaysia, the Philippines, Indonesia and Thailand and has 25 million cumulative transacted users, while Grab reaches nearly 54 million Monthly Transacting Users and Atome Financial's network covers more than 30,000 brands. Grab said the $1.49 billion cash consideration includes $0.26bn in primary growth capital as Phase 1, and the transaction is due to close by the third quarter of 2027, subject to regulatory approvals and other customary closing conditions. After completion, Grab will consolidate Atome Financial into its Financial Services segment, with Atome Financial's management team remaining in place to oversee the business.
Uber and Costco Expand Delivery Partnership to 47 U.S. States
Uber Technologies and Costco Wholesale have expanded their delivery partnership to cover 47 U.S. states and nearly 600 warehouses. Costco delivery through Uber Eats now includes new membership perks and gift card benefits aimed specifically at Costco members. Uber describes the rollout as its broadest single retailer expansion for Uber Eats in the U.S., widening its grocery delivery reach against key competitors such as DoorDash and Instacart. The company, a transportation and delivery platform valued at about $145.9b, is tying Costco's loyalty-heavy membership scheme to Uber One perks and promotions as it pushes for deeper cross-platform engagement and spend per customer. Analysts continue to flag that lower-margin baskets and discounted tiers, including bulk groceries, could pressure average profitability.
Over 500 Customers Back Union Pacific-Norfolk Southern Merger
More than 500 customers across nearly every segment of the American freight economy have publicly backed the proposed Union Pacific and Norfolk Southern combination, with support growing through recent Surface Transportation Board filings. Recent filings included more than 150 new letters from customers, first responder organizations, community leaders and elected officials, adding to the more than 2,000 statements submitted with the railroads' amended application. Twenty-three new shippers from industries including agriculture, energy, fertilizer, forest products, food and automotive cited benefits of a single, integrated coast-to-coast rail network, including expanded market access, stronger supply chains, improved reliability and new growth opportunities. Union Pacific and Norfolk Southern say the combined railroad, described as America's first seamless coast-to-coast freight rail network, is expected to generate approximately $3.5 billion in annual savings and shift an estimated 2.1 million truckloads from highways to rail each year. The transaction remains subject to Surface Transportation Board review and approval, with the two companies expecting completion in the third or fourth quarter of 2027.
Costco and Uber Expand Delivery Partnership to 47 States and Nearly 600 Warehouses
Costco Wholesale and Uber Technologies are sharply expanding their U.S. delivery partnership, making Costco available through Uber Eats in 47 states and nearly 600 warehouses, up from 17 states previously. Costco members can now order groceries, fresh produce, household essentials, bulk products and Costco-exclusive merchandise through Uber Eats for either scheduled or on-demand delivery, entering their membership information at checkout to access member pricing while Uber handles ordering, delivery scheduling and real-time tracking. The companies are also tying the expansion to their membership programs: eligible Costco members can receive 50% off an annual Uber One membership in the first year and 20% off in following years, participating Costco locations and Costco.com will temporarily offer $100 Uber or Uber Eats gift cards for $79.99, customers who buy a Costco membership through Uber Eats can receive 30% off their first qualifying Costco order, and Uber One members receive no Uber fees on eligible grocery and retail orders above $60. Costco already works with Uber Eats internationally in Canada, Mexico, Japan, Taiwan, France and Spain. Uber COO Andrew Macdonald said the nationwide partnership demonstrates the scale and opportunity Uber can bring to retailers looking to meet more of consumers' everyday shopping needs.
Costco expands Uber Eats delivery to 47 states from 17
Costco Wholesale Corp. has expanded its Uber Eats partnership to 47 states from 17, bringing delivery from nearly 600 warehouses onto the platform. Customers can order Costco's full assortment through Uber Eats, with members verifying their membership before purchasing. The partnership goes beyond delivery: some Costco members will receive discounts on Uber One, and shoppers will be able to buy Costco memberships directly through the Uber Eats app. Costco gains another way to reach customers who expect groceries and household products at their door, while Uber gains one of America's largest retailers as it pushes Eats beyond restaurant delivery. Competition is intensifying, with DoorDash, Instacart and Amazon already competing heavily for grocery orders and Walmart expanding its own delivery ambitions.
Canadian National and Amtrak Settle Decade-Long Passenger Delay Dispute
Canadian National Railway's U.S. subsidiaries have reached an agreement with Amtrak to resolve a decade-long dispute over passenger service delays, equipment issues, and late station departures. Canadian National Railway is the parent company of U.S. rail subsidiaries Illinois Central Railroad Company and Grand Trunk Western Railroad Company, which own the lines Amtrak uses for intercity routes including the City of New Orleans, Illini, Saluki, and Wolverine. The dispute centered on Amtrak blaming CNI for prioritizing freight over passenger routes, while CNI blamed Amtrak for freight delays tied to equipment issues or late station departures, and CNI had pushed proposals to the Surface Transportation Board that would hold Amtrak financially responsible for delays. Under their eight-year operating agreement, the two sides agreed to a revised performance payment system more closely aligned to the Federal Railroad Administration's on-time performance standard, regular reviews of Amtrak's schedules, and a process to address operational issues and resolve disputes, and they will also work together to equip Amtrak trains with Onboard Shunt Enhancers. Canadian National COO Patrick Whitehead said the company is pleased to have reached agreements that allow it to move forward with a clear framework for safely and efficiently sharing its network, adding that together with the deployment of OSE technology, these agreements will support safer grade crossings and reliable passenger and freight service. Although the agreement ends the decade-long dispute, Canadian National shares are lower as the negotiations highlight the railroad's persistent on-time performance challenges.
CN's U.S. rail subsidiaries and Amtrak have reached agreements that strengthen their partnership and support safe, reliable passenger and freight service on CN's U.S. rail network. The parties signed a new eight-year operating agreement governing Amtrak service on CN-owned rail lines, resolving a more than decade-long proceeding before the Surface Transportation Board concerning terms and conditions for Amtrak services such as the City of New Orleans, Illini/Saluki, and Wolverine. The agreement establishes a revised performance payment system more closely aligned with the Federal Railroad Administration's on-time performance standard, regular reviews of Amtrak's schedules, and processes to address operational issues and resolve disputes. In addition, the parties will work together on a process for Amtrak to equip its trains operating on CN's network with Onboard Shunt Enhancers, a technology that improves how trains are detected as they approach rail grade crossings and helps ensure crossing warning systems activate when they should. Installation of the OSEs is supported through FRA funding and builds on more than a decade of research and testing led by CN, Amtrak and the FRA.
S&P 500 Rises as Crude Slips Ahead of Expected Fed Rate Hike
U.S. equities ground higher off six-week lows on Wednesday as a sharp reversal in crude oil handed stocks a reprieve just hours before the Federal Reserve is expected to raise interest rates for the first time since 2023. The S&P 500 added 0.4% to 7,615.70, the Dow Jones Industrial Average was effectively flat at 52,113, and the Nasdaq 100 outperformed with a 0.9% gain to 29,198. West Texas Intermediate crude slid 3.6% to $102.02 a barrel after U.S. Energy Secretary Chris Wright told CNBC that the outage on Saudi Arabia's damaged East-West crude pipeline would be a brief and temporary interruption measured in days, and Riyadh moved to route additional barrels through Oman. Markets price in roughly a 93% chance the central bank will lift the target range by 25 basis points to 3.75%-4.00% this afternoon, with another move expected by December, after August retail sales jumped 1.2% month-over-month against forecasts of 0.8%. On the earnings front, Forgent Power Solutions rallied 11.6% after fourth-quarter revenue rose 94% year-over-year to $462 million, while J.B. Hunt Transport Services collapsed 12.5% after guiding third-quarter earnings to fall 5% to 10% from the second quarter on a $10 million fuel headwind and $25 million of added driver-related costs.
UBS Upgrades Union Pacific to Buy on Volume Growth and Merger Optionality
UBS upgraded Union Pacific to a Buy rating on Wednesday, lifting the rail stock from Neutral. Analyst Thomas Wadewitz said the firm's analysis of key customer markets points to a second year of strong volume growth setting up for Union Pacific in 2027, with low inventories signaling further growth in steel volumes and elevated energy prices expected to keep supporting the petroleum and products segment. Wadewitz and his team forecast EPS of $13.41 for 2026 and $14.90 for 2027, both above consensus. UBS sees the combination of solid EPS delivery and optionality on a potential merger with Norfolk Southern supporting attractive upside over the next 12 months, though Wadewitz expects the regulatory review process to be challenging with an uncertain outcome. Shares of Union Pacific rose 0.5% to $285.39 at 11:59 a.m., against a 52-week high of $315.99.
UBS Upgrades Union Pacific to Buy, Lifts Target to $339
UBS upgraded Union Pacific Corp. to Buy from Neutral and raised its price target to $339 from $310, sending the shares up 1.57% in premarket trading. The new target sits roughly 19% above current prices. The firm forecasts earnings of $13.41 per share in 2026 and $14.90 in 2027, running 3% and 5% above consensus, and models 2028 earnings of $16.15 per share against roughly $13.60 implied by the current price at 21x earnings. UBS expects 10% EBIT growth in 2027 and projects 3.5% volume growth that year, with intermodal up 6% to 7% on current trends and the relationship between intermodal performance and the truckload pricing cycle. The firm said low inventories should lift steel volumes while elevated energy prices support petroleum and products, and noted that rail pricing typically lags truck, pointing to stronger pricing for Union Pacific and making price and mix against inflation a neutral rather than a headwind.
J.B. Hunt Warns of Q3 Cost Pressures, Shares Fall 12%
J.B. Hunt Transport Services warned that near-term cost pressures are outpacing pricing gains, likely producing a 5% to 10% sequential decline in third-quarter EPS, sending shares down 12% in early Wednesday trading. Executives said late Tuesday at a Morgan Stanley investor conference that the midpoint of that range implies third-quarter EPS of $1.77, roughly 16% below the current $2.10 consensus estimate and roughly in line with the 2025 third quarter. The company flagged $25 million in incremental driver-related costs for recruiting and bonuses, plus at least a $10-million sequential fuel headwind, as diesel prices rose 10% sequentially from July to August and climbed in eight of the 11 weeks of the quarter. J.B. Hunt said the cost inflation is more cyclical than structural and that higher driver costs signal a strong freight market, noting that 96% of its operating income comes from its intermodal and dedicated units, which are slow to capture rate inflections. Its intermodal bid season starts in October, with roughly 10% of contracts renewing in the fourth quarter, and management sees a big opportunity to close the gap between intermodal's current 32% discount to truck and the typical 10% to 15% discount in the East, though it will not implement out-of-cycle rate hikes.
SK Hynix in Talks With Intel on US Memory Chip Manufacturing
SK Hynix is in talks with Intel about a deal that would see the South Korean memory chip maker manufacture memory chips in the US for the first time, according to a Reuters report. SK Hynix responded that it is exploring options to boost its global competitiveness but said no deal has been made with Intel. Intel shares rose about 4% in premarket trading, making it the most actively traded stock, as Commerce Secretary Howard Lutnick has urged SK Hynix and other Asian chipmakers to start making chips in the US to help address the global shortage. Separately, JB Hunt shares slid 11% after the trucking company flagged rising costs and issued a rare earnings warning at a Morgan Stanley conference, saying it expects second quarter to third quarter earnings to drop 5 to 10% and that higher costs from ramped-up hiring, bigger signing bonuses and raises will cost it $25 million more in the third quarter than in the second quarter. Brookfield Capital agreed to buy Australian plumbing products company Reliance Worldwide in a deal valuing the company at $2.8 billion, or $3.38 a share.
SK Hynix, Intel Rise on Reported U.S. Memory Chip Talks; J.B. Hunt Warns on Q3 Earnings
SK Hynix and Intel shares each rose more than 2.5% premarket after a Reuters report that SK Hynix was in talks with Intel to manufacture memory chips in the U.S. for the first time, though SK Hynix said no decisions have been made regarding any partnership with Intel. J.B. Hunt Transport Services tumbled more than 11% after warning that its earnings may fall between 5% and 10% in the third quarter compared to the previous three-month period, a decline it attributed to internal adjustments for rising rates of purchase transportation. Expedia fell more than 2.5% after Morgan Stanley downgraded the stock to underweight, citing a weak risk/reward profile and greater exposure to a potentially weaker consumer. Energy stocks moved lower as U.S. oil prices fell 2% following a report that energy inventories rose last week, with Diamondback Energy down almost 4%, Occidental Petroleum off 1%, and ExxonMobil and Devon Energy each down almost 1%. Paychex rose more than 1% on a Wolfe Research upgrade to peer perform, while Union Pacific gained 1.5% after UBS upgraded the stock to buy.
Heartland Express has declared a quarterly dividend of $0.02 per share, unchanged from the prior payout. The dividend carries a forward yield of 0.64%. It is payable Oct. 7 to shareholders of record as of Sept. 25, with the ex-dividend date also set for Sept. 25.
Uber CEO Dara Khosrowshahi Buys $10 Million in Shares
Uber Technologies CEO Dara Khosrowshahi purchased 141,000 shares at an average price of roughly $70.96 per share, a transaction totaling just over $10 million that leaves him holding roughly 1.4 million shares. The buy came alongside Uber's latest quarterly results, which showed Gross Bookings climbing 24% year over year to $58 billion and revenue rising 12% to $14.2 billion, while Trips grew 18% to 3.9 billion and Monthly Active Platform Consumers rose 16%. Adjusted EBITDA jumped 33% to $2.8 billion and operating income climbed 40%, with free cash flow of $2.8 billion pushing trailing twelve-month FCF above $10 billion for the first time in the company's history. Other chief executives also stepped up: GameStop CEO Ryan Cohen bought 1 million shares at an average price of roughly $20.38, a transaction totaling nearly $20.4 million that leaves him directly holding more than 39.3 million shares, and Celsius CEO John Fieldly purchased 18,000 shares at an average price of roughly $27.44, a transaction totaling just under $500,000 that brings his direct holdings to more than 956,000 shares.
Grab to buy 60% stake in Atome Financial for $1.49B
Grab Holdings has agreed to acquire a controlling 60% stake in Atome Financial for $1.49B in cash, expanding its digital lending business across Southeast Asia. The transaction includes $260M of primary growth capital and is expected to close by the third quarter of 2027, subject to regulatory approvals and other customary conditions, after which Grab will consolidate Atome Financial into its Financial Services segment. Atome Financial, the digital financial services platform of Advance Intelligence Group, offers buy now, pay later loans, consumer cash loans, BNPL cards and digital lending across Singapore, Malaysia, the Philippines, Indonesia and Thailand, and has served 25M cumulative transacted users. Grab has also agreed to acquire the remaining 40% stake approximately two years after the Phase 1 closing, with that second transaction based on Atome Financial's performance rather than a fixed price, using a valuation formula based on annualized adjusted EBITDA and revenue. The resulting equity valuation will have a floor of $2B and a cap of $4.5B, with at least 50% of the consideration payable in cash.
Tokyo Metro FY2027 Q1 Operating Profit Falls to 27.7 Billion Yen on 4 Billion Yen Rise in Operating Expenses
In its first-quarter results for the fiscal year ending March 2027, announced on July 31, Tokyo Metro reported operating revenue of 109.049 billion yen, up 2.8% year on year, while operating expenses rose by 4 billion yen, pushing operating profit down 3.9% to 27.782 billion yen. The increase in operating expenses breaks down into 1 billion yen in personnel costs, 2.2 billion yen in general expenses, and 700 million yen in depreciation. According to the earnings presentation materials, within general expenses, 800 million yen in repair costs and 500 million yen in outsourcing costs stem from rising labor and material prices, while 200 million yen in electricity charges reflects the impact of the situation in the Middle East. Ordinary profit fell 4.9% to 24.722 billion yen, and quarterly net profit dropped 24.7% to 16.811 billion yen, with the decline widened by the reversal from the 6.408 billion yen gain on the revision of the retirement benefit system recorded in the same period a year earlier. The transportation business, which accounts for more than 90% of sales and more than 80% of profit, posted operating revenue of 99.304 billion yen, up 1.9%, but bore the brunt of higher costs, with operating profit down 7.1% to 23.541 billion yen. The company left unchanged its full-year forecast of higher revenue and lower profit, projecting operating revenue of 437.2 billion yen, operating profit of 81.4 billion yen, ordinary profit of 69 billion yen, and net profit of 50 billion yen.
Uber CEO Says Layoff Savings Could Mean Cheaper Rides
Uber CEO Dara Khosrowshahi said savings from the company's recent layoffs could be reinvested into lower prices for riders. Earlier this month, the rideshare company said it was eliminating 10% of its workforce, or about 3,300 people, in its largest round of cuts since the pandemic. Speaking at the Goldman Sachs Communacopia + Technology Conference, Khosrowshahi said Uber will take those savings and reinvest them back in the business, lowering prices, improving selection, and continuing to invest in its growth program. He also said Uber's commercial insurance costs, which had increased by more than 50% per ride in the U.S. mobility business over the past few years through the first quarter of 2025, have now reversed, and some of those insurance savings are being reinvested into lower consumer prices. Those savings, combined with a barbell strategy that uses excess margins from higher-end products like Uber Black to fund lower-cost offerings, could mean cheaper rides or more ways for customers to save through special offers such as the Wait & Save program. Shares of Uber jumped nearly 2% after the layoffs were announced, though the stock is down about 12.5% year-to-date amid analyst concerns over competition from autonomous vehicle companies, including Waymo's plan to offer rides through its own app alongside Uber starting in 2028.
Old Dominion Options Show Elevated Implied Volatility as Analysts Raise Estimates
Old Dominion Freight Line's Oct. 16, 2026 $90.00 Put carried some of the highest implied volatility of all equity options, signaling that options traders are pricing in a big move for the stock. The trucking company currently holds a Zacks Rank #2 (Buy) in the Transportation - Truck industry, which ranks in the Top 17% of the Zacks Industry Rank. Over the last 60 days, five analysts raised their earnings estimates for the current quarter while one cut, lifting the Zacks Consensus Estimate to $1.60 per share from $1.54. Given that analyst sentiment, the elevated implied volatility could point to a trade developing, with many seasoned options traders seeking high implied volatility to sell premium and capture decay, hoping the underlying stock moves less than originally expected.
Lyft Launches Waymo Robotaxi Rides in Nashville via Its App
Lyft has begun offering Waymo's fully autonomous robotaxi rides directly through its app in Nashville, the first market where Waymo vehicles can be booked through both the Waymo and Lyft apps. Lyft users requesting Standard, Priority Pickup, Wait & Save, or Extra Comfort rides within the designated Nashville service area can be matched with a Waymo vehicle at no additional cost. The rollout also expands Lyft's role in the autonomous-vehicle ecosystem through its Flexdrive subsidiary, which will manage charging, cleaning and maintenance for Waymo's fleet, with a new 80,000-square-foot facility supporting more than 70 full-time positions. Reuters previously reported that the Nashville partnership was intended to become Waymo's first commercial deployment through Lyft's ride-hailing network. The immediate financial impact could remain limited because Waymo availability on Lyft is initially restricted and the service carries no rider surcharge, while the longer-term risk is that wider robotaxi adoption pressures Lyft's traditional driver-based business and that Waymo could eventually prioritize its own customer platform.
JR Central to Compensate Under National Standards for Water Level Drop at Gifu Linear Construction Site
JR Central said on the 14th that it will compensate in line with national standards over the problem of well water levels dropping around the excavation site of the Hiyoshi Tunnel on the Linear Chuo Shinkansen in Mizunami, Gifu Prefecture. For the wells and other facilities the company has been drilling and providing as alternatives, it will pay in a lump sum the increased maintenance and management costs compared with before, covering 30 years' worth. For defects in homes and other structures caused by ground subsidence, the company will confirm the situation and carry out repairs at its own expense. Until now, JR Central has installed new wells to replace those rendered unusable by the water level drop and has switched users to public water supplies, with the company provisionally bearing the increased maintenance and management costs such as electricity charges. After the tunnel excavation work is completed, the company will hand over the wells and pay compensation to the small-scale water supply associations and individuals.
GameStop CEO Ryan Cohen and Uber CEO Dara Khosrowshahi Buy Millions in Own Stock
GameStop chief executive Ryan Cohen and Uber chief executive Dara Khosrowshahi each made discretionary open-market purchases of their own companies' stock on September 10, 2026, spending roughly $20 million and $10 million respectively. Cohen, reporting as director, president, CEO and board chair of GameStop, acquired 1,000,000 shares of Class A common stock at $20.3759, while director Alain Attal bought 5,000 shares at $20.00 the same day. Khosrowshahi, as director and chief executive of Uber, acquired 141,000 shares of common stock at $70.9642. On both SEC Form 4 filings, the box indicating the trade was executed under a prearranged Rule 10b5-1 trading plan was left unmarked, meaning the purchases were discretionary; transaction code P, an open-market buy, is the rarest insider action and carries no routine explanation such as tax withholding or diversification. Cohen bought into a rebounding GameStop, where Q2 FY2026 collectibles revenue surged 57% year over year to $356.3 million and management raised FY2026 adjusted EBITDA guidance to more than $650 million, while Khosrowshahi bought into an Uber drawdown, with the stock down 24.3% over the past year even as Q2 FY2026 gross bookings rose 24% year on year to $58.02 billion and the consensus analyst target price stands at $101.21.
JR Central to Compensate Under National Standards for Water Level Drop at Linear Chuo Shinkansen Hiyoshi Tunnel Site
JR Central said on the 14th that it will compensate under national standards for the problem of declining well water levels and other issues around the excavation site of the Hiyoshi Tunnel on the Linear Chuo Shinkansen in Mizunami City, Gifu Prefecture. For the wells and other facilities the company has drilled and provided as alternatives, it will pay 30 years' worth of the increase in maintenance and management costs compared with before, in a lump sum. For defects in homes and other structures caused by ground subsidence, the company will confirm the situation and carry out repairs at its own expense. Until now, JR Central has installed new wells to replace those rendered unusable by the falling water levels and has switched users to public water supplies, bearing the increase in maintenance and management costs such as electricity charges on an emergency basis. After the tunnel excavation work is completed, the company will hand over the wells and pay compensation to the small-scale water supply associations and individuals.
Daqin Railway conducts first buyback of 12.4915 million shares, plans cancellation and capital reduction
Daqin Railway announced on the evening of September 14 that it had repurchased 12.4915 million shares for the first time that day through the Shanghai Stock Exchange trading system via centralized bidding, accounting for 0.0629% of the company's total share capital of 19.863 billion shares. The highest repurchase price was 4.83 yuan per share and the lowest was 4.78 yuan per share, with total funds paid of 59.99995 million yuan excluding transaction fees. The buyback plan was approved at the second meeting of the company's eighth board of directors on August 3, 2026, and at the second extraordinary shareholders' meeting of 2026 on August 20. The repurchase amount is between 400 million yuan and 500 million yuan, with a price ceiling of 7.10 yuan per share. The repurchased shares will be cancelled to reduce the company's registered capital, and the implementation period is within six months from the date of shareholder approval, from August 20, 2026, to February 19, 2027. The company said it will implement further repurchases within the buyback period based on market conditions and fulfill information disclosure obligations in a timely manner. The 2026 semi-annual report released the same day showed that the company achieved operating revenue of 39.597 billion yuan in the first half of the year, up 6.20% year on year. Net profit attributable to shareholders of the listed company was 4.255 billion yuan, up 3.40% year on year. The company plans to distribute a cash dividend of 0.08 yuan per share before tax, totaling 1.589 billion yuan, accounting for 37.35% of first-half net profit attributable to the parent company.
BTS reports total rail system ridership hits 1 million per day, eyes rail business expansion
Surapong Laoha-Unya, Executive Director and Chief Executive Officer of the MOVE business line at BTS Group Holdings Public Company Limited, or BTS, told the Stock Vision news team that total rail system ridership continues to grow even as the overall economy slows. The Green Line, both the northern and southern sections, averages more than 800,000 passengers per day, and when the Green Line, Pink Line, and Yellow Line are combined, total system ridership stands at about 1 million passengers per day. The Yellow Line continues to show improving growth, while the Pink Line has seen ridership rise to nearly 100,000 passengers per day. The company is pressing ahead with marketing and promotion strategies, including new ticket products such as monthly passes and tickets valid for a set number of days, and is organizing events along rail routes to generate revenue during event periods. In the advertising business on the Pink and Yellow lines, the focus is on train wrap advertising. The Mix & Match business is trending better this year. For business expansion, BTS sees opportunities in the country's rail infrastructure, aiming to expand in Bangkok, the surrounding provinces, and the regions, and is open to both public-private partnership models, or PPP, and contracts to manage and operate trains. It is especially interested in the Phuket rail project. As for the U-Tapao airport project, work is under way to push forward the portions that can proceed immediately without waiting solely for the high-speed rail link connecting three airports to be ready, since the project has already been running for more than six years.
Uber Cuts 10% of Workforce, About 3,300 Jobs, to Fund $10 Billion Robotaxi Push
Uber Technologies announced on September 2 that it will cut roughly 10% of its global corporate workforce, about 3,300 of its 34,000 employees, its largest layoffs since the pandemic. CEO Dara Khosrowshahi told employees the changes are designed to make Uber simpler and faster and to create more capacity to invest in the future, including the company's previously announced plan to spend more than $10 billion on autonomous vehicles in the coming years. The cuts target organizational bloat specifically: teams of one or two direct reports will shrink by roughly half, and employees more than seven reporting layers from the CEO will be reduced by 20%. Uber is also combining its engineering, science, and delivery divisions and concentrating staff in hubs like New York and San Francisco, with only about 1% of employees permitted to keep working remotely. Khosrowshahi did not cite AI as a reason for the cuts, unlike Meta's recent layoffs.
Eastern International Receives Nasdaq Minimum Bid Price Deficiency Notice
Eastern International Ltd. announced it received a letter from the Nasdaq Stock Market on September 10, 2026, notifying the company that its ordinary shares no longer meet the minimum bid price requirement for continued listing under Nasdaq Marketplace Rule 5550(a)(2) because the closing bid price fell below $1.00 for 30 consecutive trading days. The notification has no immediate effect on the listing of the company's ordinary shares, and under Nasdaq Marketplace Rule 5810(c)(3)(A) Eastern International has 180 calendar days, until March 9, 2027, to regain compliance. If the bid price closes at least $1.00 per share for a minimum of 10 consecutive business days at any time before the compliance period expires, Nasdaq will provide written confirmation and close the matter. Should the company fail to regain compliance by the deadline, it may be eligible for an additional 180 calendar day period, provided it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and provides written notice of its intention to cure the deficiency by effecting a reverse stock split if necessary. Eastern International said it intends to continue actively monitoring its bid price and will consider all available options to resolve the deficiency and regain compliance.
Grab Posts 22% Revenue Growth as Uber's 12% Rise Lags on Model Changes
Grab reported 22% revenue growth and 54% EBITDA expansion in the second quarter, outpacing Uber, whose 12% reported growth was dragged down by business model changes. Grab's fintech loan book surged 197% to $2.3 billion, and analysts lifted their FY2026 EPS estimate for Grab to $0.1338 from $0.0836 in just 30 days. Grab shares sit 40% below year-to-date highs, down 39.68%, versus an 11.22% decline for Uber, which carries a roughly $148.17 billion market cap against Grab's approximately $11.96 billion. Grab authorized a new $750 million buyback, while Uber repurchased $518 million in the quarter and is funding $10 billion in autonomous-vehicle investments plus roughly $4 billion deployed toward Delivery Hero shares. Grab's quarter included a $307 million one-time gain from remeasuring Superbank, which reached 7.4 million customers, and management guided the fintech loan book above $3 billion by year end.
Uber, WeRide and AVOMO Win Spain's First National Permit for Level 4 Autonomous Vehicles
Uber Technologies, WeRide and AVOMO, the autonomous vehicle division of Moove Cars Group, have secured Spain's first national permit for Level 4 autonomous passenger vehicles to operate on public roads, granted by Spain's Directorate General of Traffic under the ES-AV framework with support from the Regional Government of Madrid. The authorization, WeRide's ninth autonomous-driving permit globally, covers an initial phase of 20 vehicles equipped with WeRide's latest autonomous-driving technology, operating in high-demand areas across Greater Madrid under the supervision of in-car vehicle specialists, and marks the first EU national approval for WeRide's GXR autonomous vehicle. Commercial operations in Spain are expected to commence by the end of 2026, subject to deployment preparations and operational and regulatory requirements. The planned rollout marks WeRide and Uber's joint entry into Spain and Madrid's inclusion as the fourth of 15 cities covered by their strategic partnership, with the companies planning to expand into another 11 cities by 2030 and eventually deploy tens of thousands of autonomous vehicles on public roads worldwide. Uber currently works with more than 30 autonomous-vehicle partners across mobility, delivery and freight, collectively completing millions of autonomous trips annually, and expects to facilitate such journeys in as many as 15 cities by the end of 2026, aiming to become the world's largest facilitator of autonomous trips by 2029.