U.S. markets closed

Yandex to Up the Ante With Self Driving Demonstrations at CES

Zacks Equity Research

Yandex N.V. YNDX is leaving no stone unturned to bolster presence in the autonomous driving space.

During the Consumer Electronics Show (CES) 2020, the company plans to demonstrate rides with self-driving cars. The demonstration will be held on the public streets of Las Vegas.

These cars will feature the latest generation of Yandex’s autonomous hardware and software, which include a new sensor array. These sensors enable the vehicles to work with more accuracy, thereby allowing it to prevent accidents. The cars are designed to take left turns and navigate around multilane streets, among other notable features.

Following CES, Yandex plans to provide an autonomous taxi service in Detroit to the visitors of the June 2020 North American International Auto Show.

These efforts are likely to aid the company in rapidly penetrating the self-driving market.

Yandex N.V. Price and Consensus

 

Yandex N.V. Price and Consensus

Autonomous Vehicles Hold Promise

Autonomous vehicles are set to revolutionize the concept of transport, while contributing significantly to the global economy. Per a McKinsey research, autonomous vehicles are expected to contribute to 66% of passenger-kilometers traveled in 2040, while generating $1.1 trillion in mobility services revenues and $0.9 trillion in sales.

Increasing popularity of mobility as a service (MaaS) solutions and accelerated deployment of 5G are anticipated to be tailwinds. According to Kenneth Research data, the self-driving car market is expected to hit $173.15 billion by 2023 at a CAGR of 36.2%.

Further, per a report by Grand View Research, the autonomous cars and trucks market is projected to hit 4,223 thousand units by 2030 at a CAGR of 63.1%.

Yandex seems to be well positioned to capitalize on the growing automotive market, which, even being a small fraction of the total market, is expected to see meaningful growth in a couple of years.

Bottom Line

Rapid development in the self-driving vehicle space can primarily be attributed to breakthroughs in technology, with the integration of robust AI and ML capabilities in advanced driver-assistance systems.

Moreover, improving neural networking capabilities and advancements in digital mapping and obstacle recognition functionalities are expected to lead to safer navigation, reduction in accidents, and commuter comfort.

Immense growth opportunities in this autonomous vehicle market are luring enough to attract technology companies like Alphabet GOOGL, NVIDIA NVDA, Intel INTC, among others, which are also leaving no stone unturned to grab a piece of this market pie.

Yandex has been making continuous efforts to accelerate the development of autonomous driving since 2017. The company had launched its first fully-autonomous taxi service in Europe in 2018. At CES 2019, the company expanded its self-driving system internationally. Now at CES 2020, the company’s move to demonstrate driving capabilities with self-driving cars is a testament to its efforts to boost footprint in this space.

Zacks Rank

Currently, Yandex carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

More Stock News: This Is Bigger than the iPhone!                  

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. 

Click here for the 6 trades >>

Click to get this free report Yandex N.V. (YNDX) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Intel Corporation (INTC) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

  • Dow Jones Futures: Why This Stock Market Rally Is More Dangerous Than The Coronavirus Market Crash
    Business
    Investor's Business Daily

    Dow Jones Futures: Why This Stock Market Rally Is More Dangerous Than The Coronavirus Market Crash

    Dow Jones futures rose Sunday evening, along with S&P 500 futures and Nasdaq futures. Coronavirus cases and deaths continue to soar, but daily increases are slowing in some countries and New York. Technically, it's a coronavirus stock market rally, but Thursday's follow-through day and Friday's retreat didn't offer much confidence.

  • Oil skids on oversupply fears, U.S. stock futures jump
    World
    Reuters

    Oil skids on oversupply fears, U.S. stock futures jump

    Oil prices skidded on Monday after Saudi-Russian output discussions showed no immediate signs of progress while U.S. stock futures jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases. Sterling fell after British Prime Minister was admitted to hospital following persistent coronavirus symptoms as the pandemic rapidly spreads. Brent crude fell as much as $3 in early Asian trading after Saudi Arabia and Russia postponed a meeting over a potential pact to cut production to Thursday.

  • U.S. Stock Futures Rise as Virus Deaths Ease: Markets Wrap
    World
    Bloomberg

    U.S. Stock Futures Rise as Virus Deaths Ease: Markets Wrap

    S&P 500 futures opened more than 1% higher, and contracts in Japan also climbed. The pound dipped as U.K. Prime Minister Boris Johnson was admitted to hospital for tests after suffering from the coronavirus for 10 days. In the latest developments on the health crisis: New York State fatalities fell for the first time, though President Donald Trump warned that the fallout from the coronavirus is about to get a lot worse, and a “very horrendous” phase in the pandemic is approaching.

  • Business
    Barrons.com

    Here Is a List of Companies That Have Suspended Dividends or Stopped Stock Buybacks in April

    After dozens of companies suspended or cut their dividends in recent weeks amid the coronavirus-driven business slowdown, some analysts believe dozens more are vulnerable across a variety of sectors. Take banks: After suspending stock buybacks in mid-March, eight big U.S. financial firms, including (BAC) (ticker: BAC) and (JPM) (JPM), appeared as though they could emerge from the coronavirus crisis with their dividends intact. After European and U.K. banks suspended their dividends on regulators' urging, however, investors began sell U.S. bank shares amid concerns that a similar request could be made by federal regulators.

  • 20 technology stocks with low debt to consider owning in a down market
    Business
    MarketWatch

    20 technology stocks with low debt to consider owning in a down market

    a href="https://www.marketwatch.com/investing/stock/ftnt" (FTNT) 2.2% -16% -6% 52% 12/31/2019 Computer Communications IPG Photonics Corp.

  • Precious Metals Are About To Reset Like In 2008 – Gold Bugs, Buckle Up!
    Business
    FX Empire

    Precious Metals Are About To Reset Like In 2008 – Gold Bugs, Buckle Up!

    For years, many Gold Bugs (investors who've been advocating buying Gold and Silver at low prices as a hedge against future global economic risks) were shunned as conspiracy theorists and nuts. How could these people believe Gold and Silver were solid investments when the Global equities markets were rallying 5% a year consistently – what could go wrong? Over the past two weeks, I have personally received multiple phone calls and emails from friends and associates asking how these people can suddenly “buy physical metals”.

  • New changes in law will help those near retirement and others weather coronavirus's financial storm
    Business
    USA TODAY

    New changes in law will help those near retirement and others weather coronavirus's financial storm

    The new coronavirus outbreak and economic measures to contain it could have a significantly negative impact on retirement preparations for millions of Americans. Account balances have been depleted by the stock market collapse. The government has introduced several temporary changes that could help people shore up their finances and manage their retirement accounts more effectively.

  • Justin Trudeau Says Canada Won't Retaliate Against U.S. for Banning Exports of N95 Masks
    Politics
    Meredith Videos

    Justin Trudeau Says Canada Won't Retaliate Against U.S. for Banning Exports of N95 Masks

    Prime Minister Justin Trudeau said Saturday that Canada won't bring retaliatory or punitive measures against the United States after the Trump administration announced it would prevent the export of N95 protective masks.

  • Ready to buy back into this market? If so, forget about Apple and grab these stocks instead, strategist says
    Business
    MarketWatch

    Ready to buy back into this market? If so, forget about Apple and grab these stocks instead, strategist says

    The market is utterly underestimating how much of a shock the coronavirus is going to be to the economy. And I think for the next 12 months, the U.S. consumer is only going to spend his money or her money on [nondiscretionary] goods. So, within that basket, I think you have to let Apple go.

  • He nailed the March coronavirus selloff — now he says there’s another 30% to go before the stock market hits bottom
    Business
    MarketWatch

    He nailed the March coronavirus selloff — now he says there’s another 30% to go before the stock market hits bottom

    Hedge-fund manager Dan Niles, in a note cited by Yahoo Finance this week, warned his clients way back in February that he was getting “increasingly worried” investors weren't ready for the impact the spread of the coronavirus could have on the U.S. economy. While the Dow Jones Industrial Average (DJIA)posted its worst first quarter ever, his Satori Fund closed in positive territory.

  • Business
    Financial Times

    Luckin Coffee apologises for alleged fraud

    Luckin Coffee on Sunday apologised and pledged to strengthen controls after an internal investigation found hundreds of millions of dollars of alleged fake sales last year, wiping about 75 per cent off the company's market value. Lu Zhengyao, the company's chairman, said on social media that he was “ashamed” and “accepted all questions and criticisms”, while promising to do his best to recover the losses. Mr Lu backed the start-up in 2017 as it aimed to take on Starbucks in China and remains one of its largest shareholders.

  • Coronavirus pandemic leading to 'unprecedented' financial pain for U.S. households, survey shows
    Business
    Yahoo Finance

    Coronavirus pandemic leading to 'unprecedented' financial pain for U.S. households, survey shows

    Financial pain for U.S. households triggered by the coronavirus pandemic is starting to show, according to a new survey. The survey, by Freedom Debt Relief, looked at how 2,335 Americans between the ages of 18 and 74 were dealing with their finances between March 25 to 27, which was after the national emergency was declared. “Overall, Americans are reporting rapid and unprecedented levels of change in their financial situations since the COVID-19 pandemic arose in the United States,” Freedom Debt Relief President Sean Fox told Yahoo Finance.

  • Oil Negotiators Race for Global Pact With U.S. Role in Balance
    World
    Bloomberg

    Oil Negotiators Race for Global Pact With U.S. Role in Balance

    The talks still face significant obstacles: a meeting of producers from OPEC+ and beyond -- delayed once -- is only tentatively scheduled for Thursday. Russia and Saudi Arabia want the U.S. to join in, but U.S. President Donald Trump has so far shown little willingness to do so. Oil diplomats are trying to stitch together a meeting of G20 energy ministers for Friday, part of an effort to bring the U.S. on board, according to two people familiar with the situation.

  • Oil prices decline $3 a barrel as market remains uncertain on supply outlook
    Business
    Reuters

    Oil prices decline $3 a barrel as market remains uncertain on supply outlook

    Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday's trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production. Late last week, prices had surged, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that OPEC and its allies would strike a global deal to cut crude supply worldwide. The COVID-19 pandemic caused by the novel coronavirus has cut demand and a month-long price war between Saudi Arabia and Russia has left the market awash in crude.

  • Business
    Oilprice.com

    The Oil Giant Drowning In Debt

    ExxonMobil saw its credit rating downgraded by Moody's on Thursday from Aaa to Aa1, with a Negative outlook. The oil major's struggles are growing, but they predate the pandemic and the collapse of oil prices. It seems like years ago, but Exxon gave a bullish presentation to investors in early March as part of its annual Investor Day.

  • Trump: ‘There Will Be a Lot of Death Unfortunately’
    U.S.
    WSJ

    Trump: ‘There Will Be a Lot of Death Unfortunately’

    President Trump warned on Saturday that the coming days will be some of the worst for the coronavirus outbreak. Modeling shows New York, Detroit and New Orleans will hit the peak of their outbreaks in the next week. Photo: Bryan Smith/Zuma Press

  • Boeing extends Washington state production shutdown indefinitely
    Business
    Reuters

    Boeing extends Washington state production shutdown indefinitely

    The largest U.S. planemaker said on March 23 it would halt production at its Washington state twin-aisle jetliner factory as a temporary measure to help fight the outbreak of the respiratory disease. Boeing declined to say when production could resume. It said the actions were "being taken in light of the company's continuing focus on the health and safety of employees, current assessment of the spread of COVID-19 in Washington state, the reliability of the supply chain and additional recommendations from government health authorities."

  • These 60 large U.S. companies are ‘susceptible to a dividend cut,’ according to Jefferies
    Business
    MarketWatch

    These 60 large U.S. companies are ‘susceptible to a dividend cut,’ according to Jefferies

    a href="https://www.marketwatch.com/story/these-60-large-us-companies-are-susceptible-to-a-dividend-cut-according-to-jefferies-2020-03-31? siteid=yhoof2" (GIS) 3.62% 1.49 177.3% Evergy Inc.

  • 3 Coronavirus Stocks That Could Lead the Market to Recovery
    Business
    TipRanks

    3 Coronavirus Stocks That Could Lead the Market to Recovery

    Based on a new report from the Labor Department, the U.S. economy saw 701,000 jobs erased in March, much more than economists originally expected as the figure doesn't even include the 10 million unemployment filings that occurred after March 14. In addition, New York Governor Andrew Cuomo announced on Friday that the state had experienced the biggest jump in COVID-19-related deaths the day before, sending the market plummeting even further. According to some Wall Street pros, these new technologies represent a possible inflection point in the war against COVID-19, and could even help drive the stock market's recovery.

  • U.S. oil heads 7% lower as Monday meeting of major producers gets delayed
    World
    MarketWatch

    U.S. oil heads 7% lower as Monday meeting of major producers gets delayed

    Oil futures headed lower Sunday evening in electronic trade after a key meeting between oil giants Saudi Arabia and Russia was tentatively shifted to Thursday instead of Monday, amid rising tensions between the world's biggest oil producers over the weekend. The Organization of the Petroleum Exporting Countries and its allies, including Russia, will convene later in the coming week in an attempt to forge a truce and stabilize badly beaten-down energy prices after animus between Riyadh and Moscow reared up, causing a delay in a virtual gathering to Thursday from an originally scheduled Monday. Over the weekend, Saudi Arabia and Russia became locked in a dispute, both blaming each other for the collapse in global energy prices.

  • U.S Mortgage Rates Slide Again, with Purchase Applications also on the Slide
    Business
    FX Empire

    U.S Mortgage Rates Slide Again, with Purchase Applications also on the Slide

    Mortgage rates fell for a 2nd consecutive week in the week ending 2nd April, with the downside attributed to lenders lowering rates as application backlogs slid. Mortgage rates had been on the rise in mid-March due to a surge in demand stemming from a COVID-19 driven slide in mortgage rates. Lenders had had to increase rates to deter applications as backlogs continued to rise and capacity issues hitting processing times.

  • Co-founder of George Soros’s legendary Quantum Fund warns of the ‘worst bear market of my lifetime’
    Business
    MarketWatch

    Co-founder of George Soros’s legendary Quantum Fund warns of the ‘worst bear market of my lifetime’

    Jim Rogers has been sounding the bear alarm for a while, and now that the market finally seems to be cooperating, the Rogers Holdings chairman is turning up the volume. I expect in the next couple of years we're going to have the worst bear market in my lifetime,” he told Bloomberg in the wake of the worst first-quarter loss in the Dow's history. Why so glum?

  • Oil prices decline $3 a barrel as market remains uncertain on supply outlook
    Business
    Reuters

    Oil prices decline $3 a barrel as market remains uncertain on supply outlook

    Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday's trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production. Late last week, prices had surged, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that OPEC and its allies would strike a global deal to cut crude supply worldwide. The COVID-19 pandemic caused by the novel coronavirus has cut demand and a month-long price war between Saudi Arabia and Russia has left the market awash in crude.

  • Bearish Bets: 2 Stocks You Should Think About Shorting This Week
    Business
    TheStreet.com

    Bearish Bets: 2 Stocks You Should Think About Shorting This Week

    Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each week that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Zillow Group Inc. recently was downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.

  • ‘Quiet’ Warren Buffett has three ways to win in this market
    Business
    MarketWatch

    ‘Quiet’ Warren Buffett has three ways to win in this market

    At times like this it must be a relief to have some of your retirement portfolio managed by Warren Buffett. Granted, Buffett and Berkshire Hathaway Vice Chairman Charlie Munger aren't the spring chickens they were during the dot-com crash or the global financial crisis, when they were spry youngsters in their 70s and early 80s. The company press office says Buffett is not planning to speak in public before May.