ETC 6 Meridian Mega Cap Equity ETF (ARCA: SIXA)

Latest news for ETC 6 Meridian Mega Cap Equity ETF (ARCA:SIXA)

Technology

Healthcare

Consumer Defensive

Consumer Cyclical

Industrials

Energy

Financial Services

Communication Services

Other

Real Estate

The Fund is an actively managed exchange-traded fund (ETF) that invests, under normal circumstances, at least 80 percent of its net assets (plus the amount of any borrowings for investment purposes) in mega capitalization equity securities. Madison Avenue Financial Solutions, LLC, the Funds sub-adviser (the Sub-Adviser), considers mega capitalization companies to be the largest 10 percent of stocks included in the Russell 3000 Index by market capitalization. The equity securities in which the Fund invests are mainly common stocks.

At&t Inc

Exxon Mobil Corp.

Johnson & Johnson

Kraft Heinz Co.

Eli Lilly & Co.

Amazon.com, Inc. Amzn

Nvidia Corp.

Abbvie Inc.

Meta Platforms, Inc.

Colgate-Palmolive Co

ETC 6 Meridian Mega Cap Equity ETF

Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) co-founder Marc Randolph has shared his insights on leadership transition and the &#8220;courage to step aside,&#8221; drawing parallels with President Joe Biden&#8217;s <a href="https://www.benzinga.com/news/24/07/39852139/biden-reportedly-soul-searching-on-exiting-presidential-race-some-of-presidents-cabinet-members-disc">current predicament</a>.
What Happened: On Thursday, after Netflix <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game">reported its second-quarter earnings</a>, Randolph took to X, formerly Twitter, and recounted his own experience from 25 years ago when he was the CEO of the streaming giant.
&#8220;As the co-founder of 5 startups, I know when it's time to step aside. President Biden, like I once did, now faces a momentous decision that will define his legacy,&#8221; he said.
His co-founder, Reed Hastings, suggested that Randolph step down as CEO and take on the role of COO, citing the company&#8217;s struggles under his leadership.
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39776594/microsofts-iphone-moment-wedbush-analyst-dan-ives-expects-ai-to-add-1-trillion-to-v?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s &#8216;iPhone Moment&#8217;? Wedbush Analyst Dan Ives Expects AI To Add $1 Trillion To Valuation</a>
Randolph admitted that the proposal felt unjust, given his role in founding the company and his relentless efforts toward its success. However, he recognized that while he was dwelling on the past, Hastings was looking towards the future.
Ultimately, Randolph chose to step down, believing that his ambitions should not hinder Netflix&#8217;s success. He concluded that allowing Hastings to take over&nbsp;as CEO was the best&nbsp;decision he ever made.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The courage to step aside. What Biden might learn from Netflix's first CEO:
&mdash; Marc Randolph (@mbrandolph) <a href="https://twitter.com/mbrandolph/status/1814064012600168455?ref_src=twsrc%5Etfw">July 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Randolph&#8217;s reflections come amidst a backdrop of leadership transitions and challenges. President Biden is <a href="https://www.benzinga.com/news/24/07/39853944/biden-vs-trump-ex-president-takes-commanding-national-lead-as-democratic-support-for-incumbent-crumb">facing mounting pressure</a> to reconsider his re-election bid due to health concerns.
Influential Democrats, including former House Speaker Nancy Pelosi and former President Barack Obama, have reportedly advised Biden to reassess his decision.&nbsp;
Pelosi has even stated&nbsp;that she will do <a href="https://www.benzinga.com/general/politics/24/07/39844101/pelosi-tells-biden-he-cant-beat-trump-shell-do-everything-in-her-power-to-prevent-2024-run">everything in her power to</a> prevent Biden&#8217;s 2024 run. An ally of Pelosi said that she &#8220;does not want to call on him to resign, but she will do everything in her power to make sure it happens.&#8221;
A&nbsp;Pew Research <a href="https://www.benzinga.com/general/politics/24/07/39738957/trump-biden-should-both-step-aside-majority-of-americans-say-pew-research-poll">survey&nbsp;revealed that a majority</a> of Americans believe that both Biden and former President Donald Trump should step aside in the 2024 election.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39786086/apple-watchs-redesigned-ecg-doesnt-infringe-alivecor-patents-rules-us-customs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Watch&#8217;s Redesigned ECG Doesn&#8217;t Infringe AliveCor Patents, Rules US Customs</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Wikimedia

News

Politics

Tech

Media

NFLX

Netflix Co-Founder Marc Randolph Reflects On Leadership And The 'Courage To Step Aside:' 'President Biden… Now Faces A Momentous Decision'

Baird analyst Jeffrey Meuler maintains Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) with a Outperform and raises the price target from $260 to $290.

Price Target

Analyst Ratings

Baird Maintains Outperform on Equifax, Raises Price Target to $290

WIIM

Autoliv shares are trading lower after the company reported worse-than-expected Q2 financial results.

Baird analyst Colin Sebastian maintains Corsair Gaming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSR#NASDAQ">CRSR</a>) with a Neutral and lowers the price target from $14 to $10.

CRSR

Baird Maintains Neutral on Corsair Gaming, Lowers Price Target to $10

On Friday, China&#8217;s National Medical Products Administration (NMPA) approved Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Tirzepatide for <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39680165/eli-lillys-mounjaro-outpaces-novo-nordisks-ozempic-in-weight-loss-effectiveness-study-shows" rel="noreferrer noopener">long-term weight management</a>.
It is <a target="_blank" href="https://mp.weixin.qq.com/s/8D4qauGinkVfSpAmNRdt-Q" rel="noreferrer noopener">suitable for long-term</a> weight management of adults whose body mass index (BMI) meets the following requirements based on diet control and increased exercise: ≥28 kg/m2 (obese) or ≥24 kg/m2 (overweight) with at least one condition.
Tirzepatide is known in the U.S. as Mounjaro for diabetes and Zepbound for weight loss.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/06/39197516/chinese-generic-ozempic-wegovy-versions-could-put-novo-nordisk-at-the-risk-of-stiff-competition-in-k" rel="noreferrer noopener">Chinese Generic Ozempic, Wegovy Versions Could Put Novo Nordisk At The Risk Of Stiff Competition In Key Market</a>.
In May, the Chinese regulatory authority approved Tirzepatide in China to treat adults <a target="_blank" href="https://www.benzinga.com/general/biotech/24/05/38941485/eli-lilly-secures-china-nod-for-popular-weight-lossdiabetes-drug-tirzepatide" rel="noreferrer noopener">with type 2 diabetes</a>.
In March, Eli Lilly revealed that it has identified bacteria and elevated impurity levels in products falsely claiming to be compounded versions of tirzepatide, the active ingredient in its widely-used diabetes medication Mounjaro and the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/03/37544347/eli-lillys-legal-battle-against-fake-compounded-tirzepatide-products-bacteria-impurities-detected" rel="noreferrer noopener">weight loss treatment Zepbound</a>.&nbsp;
In June, the Chinese National Medical Products Administration approved Novo Nordisk A/S&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) Wegovy (semaglutide) for <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39472928/novo-nordisk-surges-nearly-3-after-weight-loss-drug-wegovy-wins-approval-in-china" rel="noreferrer noopener">long-term weight management</a>.
The approval comes at a crucial time, as the patent for semaglutide is set to expire in China in 2026.
Novo Nordisk also plans to limit the initial sales of its obesity treatment, Wegovy, in China. China&#8217;s National Health Commission survey revealed over half of its 1.4 billion population is <a target="_blank" href="https://www.benzinga.com/general/biotech/24/06/39530614/novo-nordisk-to-restrict-initial-wegovy-sales-in-china-amid-high-demand" rel="noreferrer noopener">overweight or obese</a>.
Price Action: LLY stock is up 1.19% at $859.01 during the premarket session at the last check on Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/07/39849867/exclusive-weight-loss-duopoly-breaks-as-eli-lilly-novo-plummet-market-wont-be-dominated-by-just-2" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Weight-Loss Duopoly Breaks As Eli Lilly, Novo Plummet; &#8216;Market Won&#8217;t Be Dominated By Just 2 Players&#8217;</a></li>
</ul>
Photo by Ciara Kimsey via Shutterstock

Biotech

Large Cap

Emerging Markets

Health Care

General

Eli Lilly's Famed Weight Loss Drug Zepbound Scores Chinese Approval

Bernstein analyst Laurent Yoon maintains Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with a Market Perform and raises the price target from $600 to $625.

Bernstein Maintains Market Perform on Netflix, Raises Price Target to $625

Baird analyst Andrew Wittmann maintains Quanta Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>) with a Outperform and raises the price target from $287 to $288.

Baird Maintains Outperform on Quanta Services, Raises Price Target to $288

AUGX

Trading Halt: Halt status updated at 7:25:00 AM ET: Quotation Resumption: News and Resumption Times

CAAS

China Automotive Systems Declared Special Cash Dividend Of $0.80 Per Common Share, Payable On Or About August 22

Baird analyst Robert Mason maintains Atmus Filtration Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATMU#NYSE">ATMU</a>) with a Outperform and lowers the price target from $37 to $36.

ATMU

Baird Maintains Outperform on Atmus Filtration Techs, Lowers Price Target to $36

U.S. stocks are gearing up for a nervy as index futures were seen hugging the flat line. Uncertainty, which is one of the biggest enemies of the market, has intensified on all fronts. The Federal Reserve hasn&#8217;t committed to a timeframe for <a href="https://www.benzinga.com/economics/24/07/39800936/fed-rate-cuts-a-signal-to-sell-stocks-and-buy-bonds">starting rate cuts</a> despite the recent soft growth data and slowing inflationary measures. Things look murky on the geopolitical front. President Joe Biden&#8216;s fate is unknown yet as the calls for him to step down intensify.
And the Republican presidential candidate Donald Trump&#8217;s extreme right-wing agenda has kept traders on the tenterhook. On top of these, both candidates have talked tough regarding their stances on China.
The tech sector could react to a massive service outage reported by Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) that disrupted operations of banks, airlines, broadcasters, stock exchanges, among others worldwide, and Netflix, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) earnings
San Francisco Fed President Mary Daly, who spoke after the market close on Thursday, chose to tread a cautious line. While acknowledging that recent inflation is encouraging, she said &#8220;We&#8217;re not there yet.&#8221; A couple of more Fed officials will speak on Thursday before the Fed blackout period starts.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.08%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.02%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.19%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.03%</td>
</tr>
</tbody>
</table>
</figure>
Cues From Last Session:
U.S. stocks closed notably lower on Thursday as the downward momentum carried over into the session amid the release of mixed economic data and fairly dovish comments from Chicago Fed President Austan Goolsbee. Weekly jobless claims rose much more than expected, while regional manufacturing activity accelerated more than expected in July and the Conference Board&#8217;s leading economic index fell by less than expected in June.
The major indices opened mixed but turned uniformly higher in early trading as traders made sense of the economic data. Subsequently, selling pressure set in, sending the averages steadily lower. The Dow Industrials snapped a six-session winning streak, while the S&amp;P 500 and Dow Industrials ended at their lowest levels in nearly three weeks.
The sell-off was nearly broad based with only energy stocks bucking the downtrend. Healthcare, financial, consumer discretionary and material stocks bore much of the brunt of the sell-off.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.70%</td>
<td>17,871.22</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.78%</td>
<td>5,544.59</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.29%</td>
<td>40,665.02</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.85%</td>
<td>2,198.29</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.04% to $552.89, while the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) eased 0.03% to $479.34, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Insights From Analysts:
Despite the recent tech-led sell-off, a strategist is optimistic about the way forward for the market. &#8220;The summer rally that we've got in 2024 has gotten healthier. We like the participation at the index level, also at the stock level,&#8221; BofA Technical Strategist Stephen Suttmeier <a href="https://x.com/SquawkCNBC/status/1813919347565621722">said </a>in a CNBC interview.
After the Nasdaq 100, the S&amp;P 500 rose to a new high, and earlier this week the S&amp;P Equal-Weighted Index and the Dow Industrials followed them to new peaks, he said. The Russell 2,000 Index also broke out from a two to three-year base, he added.
&#8220;So a lot of improvement, more participation tends to be healthier for the market,&#8221; the strategist said.
Suttmeier said the S&amp;P 500 hit the 5,600 target BofA&#8217;s had for the summer rally and he sees the scope for the index climbing further to 6,150, probably within the next you know 12 months or so.
Ryan Detrick of Carson Group highlighted one positive among the recent downtrend. The S&amp;P 500 is on the longest streak since the Great Financial Crisis without a 2% drop. &#8220;Past few days have definitely added some more volatility but not long enough to end this streak just yet,&#8221; he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Longest streak since the GFC without a 2% drop for the S&amp;P 500. Past few days have definitely added some more volatility, but not enough to end this streak just yet. <a href="https://t.co/4zI6pbK3bZ">pic.twitter.com/4zI6pbK3bZ</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1814043725468963158?ref_src=twsrc%5Etfw">July 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data:
<ul>
<li>New York Fed President John Williams&nbsp;will speak at 10:40 a.m. EDT followed by Atlanta Fed President Raphael Bostic&nbsp;at 1 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a>
Stocks In Focus:
<ul>
<li>Netflix fell 1.25% in premarket trading following the streaming giant&#8217;s quarterly earnings announcement, while Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) climbed over 6.5% on earnings.</li>
<li>American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>), Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and&nbsp;Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) are among the key companies due to release their quarterly results ahead of the market open.</li>
<li>SunPower Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) plunged by over 16.5% after the company announced the halting of some operations.</li>
<li>Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) slumped about 11% following the company&#8217;s plan to sell shares.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) plummeted about 14% and Microsoft dropped about 2% on the latter&#8217;s service outage. A defect in a single content update for Windows hosts made by cybersecurity company CrowdStrike is said to have caused the outage.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell for a second straight day, dropping toward the $81-a-barrel mark while gold futures fell sharp as they look to extend their two-day losing streak. The 10-year Treasury yield climbed 6.7 points to 4.215% after spiking over 1% on Thursday. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell toward the $64K level.
Asian stocks closed mostly lower, dragged by Wall Street&#8217;s negative lead, but the Chinese and Malaysian markets bucked the downtrend. The modest strength in Chinese stocks came after a meeting of the Chinese Communist Party's Central Committee that ended Thursday and passed a resolution on &#8220;deepening reform&#8221; to &#8220;advance Chinese modernization.&#8221;
The European markets traded in the red in the early hours.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/07/39849593/fed-rate-cut-expectations-drop-mortgage-rates-to-4-month-lows-surge-in-new-applications-refinance-de">Fed Rate Cut Expectations Drop Mortgage Rates To 4-Month Lows: Surge In New Applications, Refinance Demand</a></li>
</ul>
Photo by Jirapong Manustrong on Shutterstock

Earnings

Equities

Futures

Previews

Economics

Federal Reserve

Markets

Movers

Trading Ideas

$BTC

CRWD

ISRG

MSFT

PLUG

SPWR

Wall Street Set To End Week On Subdued Note As CrowdStrike, Microsoft Drop Amid Global Outage: Analyst Sees 10% Upside Potential For S&P 500 Over Next 12 Months

Needham analyst John Todaro reiterates Coinbase Glb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) with a Buy and maintains $260 price target.

Reiteration

COIN

Needham Reiterates Buy on Coinbase Glb, Maintains $260 Price Target

Baird analyst Mike Polark maintains Intuitive Surgical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) with a Outperform and raises the price target from $487 to $503.

Baird Maintains Outperform on Intuitive Surgical, Raises Price Target to $503

Upon JJ&rsquo;s arrival, John Barresi, the Company&rsquo;s Interim Chief Financial Officer, will resume his role as SVP, Controller.
Also, Aimee Lenar joined the company on July 15, 2024 as Executive Vice President, US Pharma.&nbsp;

Management

Bausch Health Companies Says Jean-Jacques Charhon Will Join Company As CFO On August 19, 2024 - Filing

Needham analyst Joshua Reilly reiterates Clear Secure (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOU#NYSE">YOU</a>) with a Buy and maintains $40 price target.

Needham Reiterates Buy on Clear Secure, Maintains $40 Price Target

The offering is expected to close on or about July 22, 2024, subject to market and other customary closing conditions.&nbsp;
The gross proceeds to Plug Power from the offering, before deducting the underwriting discount and other offering expenses payable by Plug Power, are expected to be approximately&nbsp;$200 million.
Plug Power intends to use the net proceeds from the offering for general corporate purposes.

Offerings

Plug Power Reports Pricing Of Its Previously Announced Public Offering Of 78.74M Shares At $2.54 Per Share

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Lisata Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSTA#NASDAQ">LSTA</a>) with a Buy and maintains $15 price target.

LSTA

HC Wainwright & Co. Reiterates Buy on Lisata Therapeutics, Maintains $15 Price Target

Alphabet Inc (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>) <a href="https://www.benzinga.com/topic/autonomous-vehicles" target="_blank" rel="noreferrer noopener">autonomous ride hailing service</a> Waymo is gathering its efforts to secure access for its robotaxis at San Francisco International Airport (SFO).
The company aims to start pickups and drop-offs at the airport, according to emails reviewed by <a target="_blank" href="https://techcrunch.com/2024/07/18/waymo-wants-to-bring-robotaxis-to-sfo-emails-show/" rel="noreferrer noopener">TechCrunch</a>.
While Waymo already<a target="_blank" href="https://www.benzinga.com/news/24/06/39494723/waymo-autonomous-rides-now-available-to-everyone-in-san-francisco-heres-how-you-can-enjoy-driverless" rel="noreferrer noopener"> holds permits to operate its robotaxi service</a> in San Francisco, parts of the Peninsula, and on highways leading to the airport, SFO access requires separate approval from the San Francisco Airport Commission.
Permits for airport access are granted at SFO&#8217;s discretion. According to SFO spokesperson Doug Yakel, the process for Waymo may be as complex as it was for Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and Lyft Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) over a decade ago, the report mentioned.
&#8220;Given that this is a new mode of transportation, we would need to create a new permit structure, similar to what we did 10 years ago for companies like Uber and Lyft,&#8221; Yakel wrote in response to questions, per the report.&nbsp;
Despite a failed attempt in 2023 to map the airport, Waymo is committed to navigating the lengthy approval process.
Communications between Waymo executives, SFO officials, and Mayor London Breed&#8217;s office since March 2024 highlight ongoing discussions and meeting arrangements.
In an email to SFO General Manager Ivar Satero, Waymo&#8217;s Chief Product Officer Saswat Panigrahi emphasized the company&#8217;s expertise in San Francisco and at Phoenix Sky Harbor Airport.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39845906/whats-going-on-with-googles-parent-alphabet-stock-on-thursday" rel="noreferrer noopener">Italy Investigates Google&#8217;s Consent Methods For Linking User Data</a>
Panigrahi expressed Waymo riders&#8217; demand for service to SFO and the company&#8217;s willingness to partner with airport leaders.
The report further noted a Waymo spokesperson who confirmed preliminary talks with SFO to start noncommercial mapping with a human driver at the airport. The company plans to follow a phased approach similar to its partnership with Phoenix Sky Harbor Airport.
The first procedural step involves digital mapping of SFO&#8217;s roadways, a permit for which was postponed in 2023 by Abubakar Azam, SFO&#8217;s director of landside operations.
Autonomous vehicles, though promising, have a long way to go as a series of crash incidents question their credibility.
In February, Waymo issued a voluntary recall for its autonomous vehicle software following two incidents in Phoenix on Dec. 11, 2023, where two Waymo robotaxis crashed into the same towed pickup<a target="_blank" href="https://www.benzinga.com/news/24/02/37117493/a-first-in-autonomous-vehicle-history-googles-waymo-retracts-self-driving-software-after-phoenix-cra" rel="noreferrer noopener"> truck within minutes of each other</a>.
In early June Waymo recalled 672 of its self-driving vehicles after identifying their inability to<a target="_blank" href="https://www.benzinga.com/news/24/04/38351567/feel-sorry-for-the-bots-tesla-ceo-elon-musk-reacts-to-waymo-robotaxi-vandalism-in-san-francisco" rel="noreferrer noopener"> avoid a pole or pole-like objects.</a>
However, Waymo&nbsp;released a safety report in June pegging its autonomous driving technology as better than that of a human <a target="_blank" href="https://www.benzinga.com/news/24/06/39394686/alphabet-unit-waymo-claims-lower-crash-rate-despite-regulator-probes-into-risky-driving-behavior-thi" rel="noreferrer noopener">driver, resulting&nbsp;in fewer crashes</a>.
The California Public Utilities Commission granted Waymo autonomous operations approval for San Mateo County in March 2024. However, SFO officials want to see Waymo safely serving surrounding communities before approving airport activities.
Price Action: GOOGL shares are trading higher by 0.67% at $178.88 in premarket at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39846121/chatgpt-parent-openai-unveils-gpt-4o-mini-a-cost-effective-ai-model-for-developers" target="_blank" rel="noreferrer noopener">ChatGPT Parent OpenAI Unveils GPT-4o Mini &#8211; A Cost-Effective AI Model For Developers</a></li>
</ul>

GOOG

GOOGL

LYFT

UBER

Waymo Pushes for Robotaxi Access At San Francisco Airport

HC Wainwright &amp; Co. analyst Andrew Fein maintains Vigil Neuroscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIGL#NASDAQ">VIGL</a>) with a Buy and lowers the price target from $24 to $17.

VIGL

HC Wainwright & Co. Maintains Buy on Vigil Neuroscience, Lowers Price Target to $17

Augmedix To Be Acquired By Commure In An All-cash Transaction That Values Company At Approximately $139M In Equity Value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments

ETC 6 Meridian Mega Cap Equity ETF

News

Latest news for ETC 6 Meridian Mega Cap Equity ETF (ARCA:SIXA)