The U.S. stock market experienced mixed results Monday, with energy stocks slumping 0.9% as oil prices fell 3%. The S&P 500 and the Dow Jones Industrial Average lost 0.1%, though the Nasdaq Composite actually ticked higher by 0.2%.
Heading into Tuesday, a few companies are making waves. Mobileye NV (NYSE:MBLY) is up strongly on a new partnership, Monsanto Company (NYSE:MON) is inching closer to a deal and Zoe’s Kitchen Inc (NYSE:ZOES) is moving on its Monday evening earnings report.
Here’s a look at what these stocks are doing on Tuesday:
Mobileye NV (MBLY)
MBLY shares are getting a nice bump in Tuesday morning trading on news of yet another self-driving partnership for Mobileye.
Mobileye just announced that it will partner with auto-parts supplier Delphi Automotive PLC (NYSE:DLPH) on producing “off-the-shelf systems for everything from small cars to sport utilities and pickup trucks,” according to the Wall Street Journal.
Mobileye mostly develops camera-based advanced driver assistance systems — essentially, things like back-up cameras and collision alerts. U.K.-based Delphi, meanwhile, produces everything from powertrain systems to wiring to safety systems to infotainment.
Earlier this summer, Mobileye joined forces with BMW and Intel Corporation (NASDAQ:INTC) as part of an alliance to develop self-driving vehicles. MBLY also has established relationships with Volkswagen AG (ADR) (OTCMKTS:VLKAY) and General Motors Company (NYSE:GM).
MBLY shares are up 4% in Tuesday’s premarket trade.
Monsanto Company (MON)
Monsanto shares were getting a similar bump on Tuesday morning as its tie-up with Bayer AG (ADR) (OTCMKTS:BAYRY) looks increasingly likely.
People familiar with the matter told Bloomberg that “negotiations between Bayer AG and Monsanto Co. are advancing toward a deal.” According to the report, the parties have enjoyed a series of fruitful meetings.
Bayer originally bid $62 billion for Monsanto back in May, but the offer was rejected, with the seed company viewing the figure as too low. BAYRY came back in July, though, upping its bid by $3 billion.
The Bayer-Monsanto talks come amid progress in another massive deal on the agrichem front. On Monday, ChemChina received approval from a U.S. regulator to go forward with its deal to buy Syngenta AG (NYSE:SYT). That deal still is subject to EU approval.
MON stock is up about 4% on the report.
Zoe’s Kitchen Inc (ZOES)
ZOES shares are plummeting this morning after the company lowered its full-year revenue forecast.
The fast-casual restaurant decreased its full-year revenue outlook to a range of $277 million to $280 million, compared to a previous guidance of $277 million to $281 million. The prediction is in line with the $280.6 million that analysts had projected.
Zoe’s Kitchen did manage to meet second-quarter earnings expectations with 6 cents per share in profit. However, $66.3 million in net sales fell $900,000 short of estimates.
The revenue miss can be partially attributed to sliding traffic trends across the fast-casual industry. Still, it’s a stark reversal of fortune for Zoe’s, which rocketed earlier this year to power what through Monday was a 33% year-to-date gain.
ZOES stock was off 14% in Tuesday’s early trade.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
