Mobileye soars 10% ahead of BMW announcement
Shares of Mobileye NV soared 10.5% on Thursday after reports surfaced that the company may have secured a deal with BMW and Intel Corp. to build out driverless capabilities in the German auto manufacturer's luxury cars. Mobileye's stock was on track for its highest close since Nov. 6, trading around $46.34 Thursday afternoon, versus $46.75 in November. The stock move helped catapult Mobileye's stock, giving its shares a 25.5% gain over the last three months, versus a 1.5% gain for the S&P 500. They've underperformed on the year, however, falling 12.6% from 12 months ago, versus a 1.6% increase for the index. Shares of Intel rose 2.5% to $32.73 in afternoon trade. The companies announced plans late Wednesday to hold a joint press conference on Friday at 10 a.m. ET. Analysts have said that they expect it to include an autonomous driving initiative.
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