Latest news for Avantor (NYSE:AVTR) Stock

Avantor

Avantor Inc provider of products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. The company has three geographic segments: the Americas, Europe, and AMEA. The company's product group consists of Equipment & instrumentation, Services & specialty procurement, Proprietary materials & consumables, and Third-party materials & consumables. Materials & consumables include high-purity chemicals and reagents, lab products and supplies, specialized formulated silicone materials, customized excipients, customized single-use assemblies, process chromatography resins and columns, analytical sample prep kits, and education and microbiology and clinical trial kits, peristaltic pumps and fluid handling tips.

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Quantum-Si partners with NVIDIA to advance AI-powered proteomics, collaborates with Avantor for U.S. and Canada distribution of protein sequencing tech.

Nvidia Partners With Quantum-Si To Advance Single-Molecule Analysis

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Avantor, Inc. (NYSE: AVTR) recently signed a definitive agreement to divest its clinical services business, including kitting, biorepository, and related equipment and ancillaries (collectively known as Clinical Services), to Audax Private Equity (Audax).

Avantor Inks Deal to Optimize Portfolio, Reduce Debt

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Originally published at VolumeLeaders

What to expect for July 29- August 02, 2024

Market Momentum: Your Weekly Financial Forecast

Avantor Inc

<h3>Companies Reporting Before The Bell</h3>
• REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) is expected to report quarterly loss at $0.86 per share on revenue of $50 thousand. 
• Cheetah Mobile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMCM#NYSE">CMCM</a>) is projected to report earnings for its third quarter. 
• NeuroOne Medical Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMTC#NASDAQ">NMTC</a>) is likely to report earnings for its fourth quarter. 
<h3>Companies Reporting After The Bell</h3>
• Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) is expected to report quarterly earnings at $0.52 per share on revenue of $273.77 million. 
• cbdMD (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/YCBD#AMEX">YCBD</a>) is likely to report quarterly earnings at $0.00 per share on revenue of $4.81 million. 
• Applied DNA Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APDN#NASDAQ">APDN</a>) is estimated to report quarterly loss at $0.35 per share on revenue of $899 thousand. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For December 17, 2024

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index moved to the &#8220;Greed&#8221; zone on Monday.
U.S. stocks settled mixed on Monday, with the Dow Jones index falling for the eighth session in a row. However, the Nasdaq surged to a record high during the session.
Shares of Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) all surged to new all-time highs on Monday.
On the economic data front, the NY Empire State Manufacturing Index declined to 0.20 in December compared to 31.2 in the previous month, and down from market estimates of 12.
The S&amp;P Global services PMI climbed to 58.5 in December versus 56.1 in November. The S&amp;P Global manufacturing PMI declined to 48.3 in December compared to 49.7 in the prior month.
Most sectors on the S&amp;P 500 closed on a negative note, with materials, energy and healthcare stocks recording the biggest losses on Monday. However, consumer discretionary and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by over 110 points to 43,717.48 on Monday. The S&amp;P 500 gained 0.38% to 6,074.08, while the Nasdaq Composite gained 1.24% at 20,173.89 during Monday's session.
Investors are awaiting earnings results from Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>), Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) and REE Automotive Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) today.
At a current reading of 56.7, the index moved to the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 49.9.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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Pre-Market Outlook

AAPL

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GOOG

GOOGL

TSLA

Dow Falls For 8th Session, While Nasdaq Hits Record High As Apple, Alphabet, And Tesla Rise: Fear Index Shifts To 'Greed' Zone

Argentina&#8217;s S&amp;P Merval Index has risen by 162.85% year-to-date, beating the gains in the S&amp;P 500 Index and other <a href="https://www.benzinga.com/markets/emerging-markets">emerging stock market</a> indices.
What Happened: S&amp;P Merval&#8217;s staggering gain, comes as the country emerged from a severe recession in the third quarter of the current fiscal and amid Argentina&#8217;s President Javier Milei&#8216;s plans for cryptocurrency adoption.
The South American country&#8217;s GDP grew by 3.9% from July to September compared to the previous quarter, exceeding expectations of 3.4%. However, it shrank 2.1% from the previous year, less than the anticipated 2.6% contraction.
The country endured a recession for three quarters, with over half of the population in poverty, inflation eroding wages, and the labor market losing hundreds of thousands of jobs. Milei's austerity measures deepened the downturn, especially with cuts to public spending and infrastructure projects, a key source of employment.
Additionally, regulators from El Salvador and Argentina have signed an agreement to develop the crypto industry in both countries. The partnership will help El Salvador expand its crypto presence, leveraging strategic collaborations, according to CNAD President Juan Carlos Reyes. The two agencies will also share knowledge and expertise on crypto regulation.
See Also: <a href="https://www.benzinga.com/startups/24/12/42513867/elon-musk-praises-argentinas-31-spending-cuts-under-milei-but-what-about-the-recession">Elon Musk Praises Argentina&#8217;s 31% Spending Cuts Under Milei – But What About The Recession?</a>
Why It Matters: Milei&#8217;s <a href="https://www.benzinga.com/markets/latin-america/24/10/41196839/did-argentinas-president-javier-milei-plagiarize-the-west-wing-in-un-speech">big plan for his second year</a> as president involves removing currency exchange restrictions, allowing citizens to transact in any currency, including cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). Tax payments will still require Argentine pesos.
This policy aims to stabilize the economy, reduce inflation, and promote sustainable growth by aligning with global financial standards. It emphasizes free competition, letting individuals choose the currencies that best suit their needs, and supports Milei's vision of eventually eliminating the Central Bank to combat inflation.
Milei's pro-Bitcoin stance, which predates his presidency, has bolstered confidence in the asset in Argentina. His economic policies closely mirror those of El Salvador, where Bitcoin is legal tender.
Price Action: While Argentina&#8217;s Merval Index has outpaced gains in all other indices, Turkey&#8217;s BIST 100 is the next emerging market index to follow with a 31.3% gain, year-to-date. Bitcoin&#8217;s price has grown by 141.25% in the same period.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Emerging Markets</td>
<td>Index</td>
<td>YTD Performance</td>
</tr>
<tr>
<td>Argentina</td>
<td>S&amp;P Merval</td>
<td>162.85%</td>
</tr>
<tr>
<td>Turkey </td>
<td>BIST 100</td>
<td>31.13%</td>
</tr>
<tr>
<td>China </td>
<td>CSI 300 </td>
<td>15.93%</td>
</tr>
<tr>
<td>South Africa </td>
<td>South Africa Composite </td>
<td>13.46%</td>
</tr>
<tr>
<td>India </td>
<td>Nifty 50 </td>
<td>12.72%</td>
</tr>
<tr>
<td>Brazil </td>
<td>Ibovespa</td>
<td>-6.89%</td>
</tr>
<tr>
<td>South Korea </td>
<td>Kospi</td>
<td>-7.94%</td>
</tr>
<tr>
<td>Mexico </td>
<td>IPC Mexico </td>
<td>-11.39%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Google Finance, S&amp;P</figcaption></figure>
Among the developed market economies, the S&amp;P 500 remains the best index with a 28.07% gain on a year-to-date basis, outperforming all the other developed market indices.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Developed Markets</td>
<td>Index</td>
<td>YTD Performance</td>
</tr>
<tr>
<td>United States </td>
<td>S&amp;P 500 </td>
<td>28.07%</td>
</tr>
<tr>
<td>Germany </td>
<td>DAX </td>
<td>21.14%</td>
</tr>
<tr>
<td>Japan </td>
<td>Nikkei 225 </td>
<td>18.29%</td>
</tr>
<tr>
<td>Hong Kong </td>
<td>Hang Seng </td>
<td>17.41%</td>
</tr>
<tr>
<td>Singapore </td>
<td>STI </td>
<td>17.32%</td>
</tr>
<tr>
<td>Spain </td>
<td>IBEX 35 </td>
<td>15.68%</td>
</tr>
<tr>
<td>United Kingdom </td>
<td>FTSE 100 </td>
<td>7%</td>
</tr>
<tr>
<td>Switzerland </td>
<td>Swiss Market </td>
<td>4.76%</td>
</tr>
<tr>
<td>France </td>
<td>CAC 40 </td>
<td>-2.31%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Google Finance, Yahoo Finance</figcaption></figure>
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/24/12/42513306/elon-musks-tesla-nearly-5-times-more-expensive-than-industry-average-stock-surges-over-60-since-election">Elon Musk&#8217;s Tesla Nearly 5 Times More Expensive Than Industry Average: Stock Surges Over 60% Since Election</a></li>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$BTC

S&P 500 Performance Dwarfs In Comparison Argentina's Merval: Has Argentina's Pro-Crypto President Javier Milei Scripted An Emerging Market Success Story?

CMCL

Caledonia Mining Enters $50M "At the Market" Sales Agreement To Fund Bilboes Gold Project Development

A Virginia man has been found guilty of sponsoring the operations of ISIS, a Middle East-based terrorist organization, with tens of thousands of dollars in cryptocurrencies, a Justice Department release said Monday.
What Happened: Mohammed Azharuddin Chhipa, a 35-year-old resident of Springfield, Virginia, was involved in collecting and sending&nbsp;money to female ISIS members&nbsp;in Syria from October 2019 to October 2022. The funds were utilized to support&nbsp;ISIS in various ways, including&nbsp;aiding&nbsp;the escape of female ISIS&nbsp;members from prison camps and&nbsp;supporting ISIS fighters.
Chhipa used various social media platforms to raise funds. He received electronic transfers and even traveled hundreds of miles to collect&nbsp;funds in person. The collected funds were then converted into cryptocurrency and sent to Turkey, from where it was smuggled into Syria for ISIS members.
Over the course of the conspiracy, Chhipa managed to send over $185,000 in cryptocurrency, the release read. A request to the Justice Department to determine the specific coins used in the operation was not immediately returned.
The man now faces&nbsp;a maximum penalty of 20&nbsp;years in prison per count.&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42522826/shiba-inus-annouces-new-meme-coin-airdrop-for-shib-leash-bone-holders-heres-how-these-coins-reacted">New Meme Coin From Shiba Inu Ecosystem Up For Grabs: Here&#8217;s How Much SHIB, LEASH, BONE Holders Can Expect</a>
Why It Matters: This case is part of a broader trend of terrorist organizations leveraging cryptocurrencies for their operations. In May 2023,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/05/32239767/israeli-authorities-uncover-binance-accounts-tied-to-isis-hamas-group">Israeli authorities seized nearly 190 cryptocurrency accounts</a> on Binance&nbsp;linked to ISIS. 
In fact, over the years, organizations have shifted their focus from the traditionally preferred Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) network.
In November of last year, it was observed that <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35962267/militant-groups-prefer-tron-over-bitcoin-authorities-freeze-wallets-linked-to-hamas">militant groups were favoring</a> the Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) blockchain over Bitcoin for their cryptocurrency transfers.
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<li><a href="https://www.benzinga.com/24/12/42523184/rlusd-stablecoin-launch-powers-xrps-rallyopen-interest-upside-bets-spike">XRP Outshines Bitcoin, Ethereum Following RLUSD Launch — Derivatives Traders Amp Up Bets For Coin Even As Whales Load Up</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Image Via Shutterstock

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US Man Funneled Thousands In Crypto To ISIS Over 3 Years, Faces 20 Years In Prison

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Mandatory Partners With NuORDER By Lightspeed To Combine Digital Innovation And Physical Trade Shows, Expanding Global Reach

Nubank leads series D funding round with US$ 150M investment; Tyme operates in South Africa and the Philippines with 15 million customers

Reported Earlier, Nubank Leads $150M Series D Investment In Tyme Group, Expanding Digital Banking Reach Across Africa And Southeast Asia

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Reported Earlier, Biomea Fusion To Reveal Topline Phase II Results For COVALENT-111 Study Of Icovamenib In Type 2 Diabetes Patients

Alibaba Group Holding Ltd &#8211; ADR&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) announced on Tuesday its decision to&nbsp;sell its Chinese department store&nbsp;chain, &#8220;Intime,&#8221; resulting in a $1.3 billion loss. This move is part of Alibaba&#8217;s strategy to streamline its operations and concentrate on its primary e-commerce business.
What Happened:&nbsp;The sale is a continuation of Alibaba&#8217;s restructuring efforts, which began last year when the company was divided into six business units. The retail giant is also integrating its domestic&nbsp;and international e-commerce platforms into&nbsp;a single unit to better compete with rivals like&nbsp;PDD Holdings&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) and&nbsp;ByteDance, according to&nbsp;Reuters.
Alibaba will&nbsp;sell Intime to a consortium&nbsp;led by&nbsp;Youngor Fashion and Intime&#8217;s management&nbsp;for 7.4 billion yuan ($1.02&nbsp;billion), pending regulatory approvals. The company acquired Intime in 2017 for $2.6 billion to expand its brick-and-mortar presence.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/12/42483873/sylvester-stallone-gifts-a-knockout-25-million-hamptons-estate-to-his-daughters-another-addition-to-his-curated-property-portfolio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Sylvester Stallone Gifts A Knockout $25 Million Hamptons Estate To His Daughters – Another Addition To His Curated Property Portfolio</a>
Reuters reported in February that Alibaba is looking to divest several&nbsp;consumer sector assets, including Intime,&nbsp;to refocus on its core e-commerce&nbsp;operations. The challenging consumer environment in China has pressured retailers and e-commerce platforms, prompting Alibaba&#8217;s strategic shift.
Why It Matters: The decision to sell Intime comes amid a broader restructuring within Alibaba. In November, the company announced plans to consolidate its domestic and international e-commerce operations into a single unit, the&nbsp;<a href="https://www.benzinga.com/24/11/42120110/alibaba-reshapes-e-commerce-operations-names-jiang-fan-as-unit-ceo">Alibaba E-commerce Business Group</a>. This new division will be led by Jiang Fan, who has been the CEO of Alibaba International Digital Commerce. This strategic move is aimed at enhancing competitiveness against formidable rivals.
In October, Alibaba became a significant holding in the portfolio of Chinese fund manager Zhang Kun, as economic <a href="https://www.benzinga.com/news/24/10/41580089/alibaba-becomes-key-holding-in-chinese-fund-managers-portfolio-economic-measures-spark-interest-in-l">measures increased interest</a> in leading tech stocks. Zhang&#8217;s fund acquired 40.4 million Hong Kong-listed Alibaba shares, making it the second-largest holding in his portfolio. This indicates a renewed confidence in Alibaba&#8217;s future prospects.
Additionally, in September, Alibaba joined <a href="https://www.benzinga.com/news/24/09/40778129/alibaba-joins-chinas-stock-connect-eyes-billions-in-investment-boost">China&#8217;s Stock Connect program,</a> allowing mainland investors to access its Hong Kong-listed shares. This is expected to significantly boost capital inflows and enhance investor access to the company.
Price Action: Alibaba stock closed 2.02% lower on Monday at $86.06, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. Meanwhile in Robinhood, Alibaba was trading around 86.24 in the after-hours market at 2:45 AM ET.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

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Alibaba Stock Rises Marginally In Overnight Trading On Robinhood Despite $1.3 Billion Loss From Sale Of Chinese Retail Chain Intime

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Reported Earlier, ATS Successfully Prices $200M Upsized 6.50% Senior Notes Offering, Issued At 100.625% To Support Debt Repayment

The Transactions Contemplated by the Agreement Would (a) Reduce the Company's Current Outstanding Debt Obligations from an aggregate principal amount of $231 Million to, collectively, (i) an up to $110 Million Term Loan, (ii) an up to $50 Million Non-Interest Bearing Exit Fee and (iii) a $12.5 Million Super Senior Credit Facility, (b) Decrease the Company's Annual Cash and PIK Interest by Approximately $18 million1, (c) Extend the Maturity Date of the Term Loan by Five Years, (d) Grant Equity to Lenders, and (e) Grant Warrants to Shareholders

ASPS

Reported Earlier, Altisource Secures Agreement To Slash Debt By $58M, Extend Maturities, And Strengthen Balance Sheet For Long-Term Stability

Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) will release its first-quarter financial results, before the <a href="https://www.benzinga.com/quote/JBL/earnings">opening bell, on Wednesday, Dec. 18</a>.
Analysts expect the Saint Petersburg, Florida-based retailer to report quarterly earnings at $1.88 per share, down from $2.60 per share in the year-ago period. Jabil projects quarterly revenue of $6.61 billion, compared to $8.39 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 26, Jabil reported fourth-quarter revenue of $6.96 billion, down by 17.7% year-on-year, beating the analyst consensus estimate of $6.59 billion.
Jabil shares fell 0.1% to close at $134.99 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/JBL/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Stifel analyst Matthew Sheerin maintained a Buy rating and raised the price target from $140 to $150 on Dec. 4. This analyst has an accuracy rate of 74%.</li>
<li>Barclays analyst George Wang maintained an Overweight rating and boosted the price target from $135 to $157 on Sept. 27. This analyst has an accuracy rate of 66%.</li>
<li>JP Morgan analyst Samik Chatterjee maintained an Overweight rating and cut the price target from $137 to $133 on Sept. 3. This analyst has an accuracy rate of 70%.</li>
<li>UBS analyst David Vogt maintained a Neutral rating and cut the price target from $130 to $120 on June 21. This analyst has an accuracy rate of 71%.</li>
<li>Argus Research analyst Jim Kelleher downgraded the stock from Buy to Hold on March 19. This analyst has an accuracy rate of 76%.</li>
</ul>
Considering buying JBL stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="447" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17021744/image-135-1024x447.png" alt="" class="wp-image-695188" style="width:488px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17021744/image-135-1024x447.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17021744/image-135-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17021744/image-135-768x335.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/17021744/image-135.png 1435w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Price Target

Jabil Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) autonomous driving unit Waymo said on Monday that it will start testing its robotaxis in Tokyo, Japan, beginning in early 2025.
What Happened: All-electric Jaguar I-PACEs equipped with Waymo&#8217;s autonomous driving technology will arrive in Tokyo in early 2025 and learn to adapt to left-hand traffic and other driving nuances of the city, the company said.
The company has partnered with taxi company Nihon Kotsu to oversee the management and servicing of Waymo&#8217;s vehicles. Drivers of the taxi company will initially operate the vehicles manually to map areas including Minato, Shinjuku, Shibuya, Chiyoda, Chūō, Shinagawa, and Kōtō.
The company, however, did not provide a timeline for when it intends to provide autonomous paid rides to members of the public.
Why It Matters: Tokyo is Waymo&#8217;s first step toward international markets. 
&#8220;We are engaging with Japanese policymakers, regulators, and local safety officials to ensure a responsible and seamless implementation of Waymo&#8217;s technology to Tokyo&#8217;s streets,&#8221; the company said in a statement while adding it will take a &#8220;rigorous approach&#8221; to validating its technology&#8217;s safety and performance. 
Waymo is currently providing autonomous paid rides to the public in Phoenix, San Francisco, and Los Angeles.&nbsp;Earlier this month, Waymo said that it is looking to open autonomous rides to&nbsp;<a href="https://www.benzinga.com/tech/24/12/42360297/waymo-eyes-expansion-of-autonomous-rides-to-users-in-miami-by-2026" target="_blank" rel="noreferrer noopener">people in Miami, Florida, as well in 2026.</a>
Last week, General Motors said that it would <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42425386/general-motors-stock-is-rising-after-the-bell-whats-driving-the-action" target="_blank" rel="noopener">no longer fund</a> Cruise‘s robotaxi development but would instead combine the majority-owned unit with its technical teams. The robotaxi development work needs considerable time and resources to scale, GM reasoned, while adding that the robotaxi market is getting increasingly competitive.
Cruise, until late last year, was a major robotaxi player in the U.S. in the leagues of&nbsp;Waymo.
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 Next:
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<li><a href="https://www.benzinga.com/government/regulations/24/12/42523006/new-passenger-vehicles-in-us-to-sound-warnings-if-rear-passengers-dont-fasten-seat-belts">New US Cars To Sound Warnings If Rear Passengers Fail To Fasten Seat Belts: &#8216;More We Can Do To Make Sure Everyone Buckles Up&#8217;</a></li>
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