7/28/25

WeRide climbs after securing Saudi Arabia’s first robotaxi permit

Saudi Arabia handed its first robotaxi permit to Chinese self-driving car company WeRide on Monday, sending shares of the company climbing in early trading.

WeRide said it expects to launch nationwide robotaxi service, in partnership with Uber, by the end of the year. The company now holds autonomous driving permits in six countries, including China, Singapore, Saudi Arabia, the UAE, France, and the US.

WeRide saw explosive momentum in February after Nvidia disclosed a roughly $25 million stake in the company, sending the self-driving company surging up to one-sixteenth of the valuation of Uber at the time. Prior to Monday’s market open, WeRide was down more than 75% from its 52-week high.

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Luke Kawa

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Oracle’s hyperscaler competitors lag after the cloud computing giant’s blowout revenue forecast

Oracle’s forecast for mind-blowing revenue growth through its fiscal 2030 is lifting most AI-adjacent stocks today.

However, the ones being left behind in this rising tide, falling or lagging well behind Morgan Stanley’s basket of AI tech beneficiaries (up 5.8% as of 12:22 p.m. ET), are its fellow hyperscalers.

Microsoft and Alphabet, which also have massive cloud divisions, are positive — but only just. Amazon, whose cloud revenue growth was deemed a disappointment relative to peers this quarter, is down 2.8%. Meta is down 1.2%.

This suggests, at the very least, that traders aren’t mapping Oracle’s outlook for Nvidia-like revenue growth onto the other major cloud players or one of their biggest customers.

Nia Warfield

Chewy sinks despite topping Q2 estimates, erasing much of its recent rally

Chewy dropped nearly 16% Wednesday, despite the online pet retailer fetching stronger-than-expected Q2 results and hiking its sales guidance for the year.

The move erased much of a recent blistering run-up for the stock, which had gained 23% off its recent August 5 low through Tuesday.

The company delivered adjusted earnings per share of $0.33 for the quarter, in line with analysts’ consensus forecast of $0.33. Sales jumped nearly 8.6% to $3.1 billion, also above forecasts, with sales to the company’s Autoship customers making up 83% of the total.

Looking ahead: Chewy boosted its full-year sales estimates to $12.5 billion to $12.6 billion, up from $12.3 billion to $12.45 billion. Wall Street was expecting sales of $12.49 billion for the year.

For the current quarter, Chewy guided adjusted EPS to $0.28 to $0.33, compared with the Street’s $0.30 estimate.

Chewy ended the quarter with nearly 21 million active customers, up 4.5% from last year. CEO Sumit Singh said the quarter showed “Chewy’s differentiated value proposition,” citing both customer growth and wallet share gains.

Still, headline net income fell to $62 million, with net margins slipping under cost pressures tied to share-based compensation.

Chewy shares were up 24% year to date going into the print.

Oracle is on pace for its best day in the stock market since 1992

Oracle shareholders are singing “I Will Always Love You” to the stock.

Nate Becker3h

Max Knoblauch

Joby takes off as Uber says it’ll add Blade helicopter trips to its app

Shares of air taxi maker Joby Aviation are up more than 7% in premarket trading Wednesday, following news that Uber will add the company’s Blade helicopter and seaplane services to its app as soon as next year.

Joby CEO JoeBen Bevirt said in a statement that the fresh partnership “will lay the foundation for the introduction of our quiet, zero-emissions aircraft in the years ahead.” A Joby air taxi completed its first test flight between US airports last month. The company has said it’s 70% complete with the fourth stage in the five-stage FAA certification process.

Uber, which was flat on the announcement, sold its air taxi business to Joby in 2020.

Joby announced its $125 million acquisition of Blade (minus the company’s primary organ transplant business) in early August. More than 50,000 passengers used Blade services last year, according to Joby’s press release.

Max Knoblauch

Nio sinks after announcing $1 billion share offering to fund EV development

US-listed ADRs of Chinese EV maker Nio sank more than 8% in premarket trading on Wednesday as investors face $1 billion in share dilution from a secondary offering.

Nio plans to issue up to nearly 182 million shares, raising up to $1 billion according to terms seen by Bloomberg.

Net proceeds from the sale will be put toward R&D around smart EVs and used to “develop future technology platforms and vehicle models across its brands,” Nio said in its announcement. The company also plans to expand its battery swapping and charging network.

The EV maker, which has yet to post a profit in its 11-year history, has ambitious growth plans despite the steep competition in China. It delivered a record 31,305 vehicles in August, including 10,575 sales of its Onvo L90, a Tesla Model Y competitor. The new three-row, $27,000 SUV is the company’s fastest model to reach 10,000 sales.

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