World News – CA – Shares of UPS rally to accelerate Dow Tranports gains, after salary deal with Teamsters Canada

Shares of United Parcel Service Inc
UPS,
177%
rose 17% in the afternoon, after a deal between parcel delivery giant and union Teamsters Canada The stock was the biggest winner among the components [d: djt] of the Dow Jones Transportation Average, while the Dow transportation index fell 04% Teamsters Canada said Friday that UPS’s final offer was ratified by 608% of union members who voted, leading to “immediate increases” ranging from Cdn2 to $ 3 per hour Union members who already receive the highest rate will receive $ 4 10 increases over the course of the five-year contract Among other agreements, the facial hair policy has been relaxed and further improvements have been made to the plan retirement UPS stock has soared 421% year-to-date, while Dow transports have gained 65% and the Dow Jones industrial average
DJIA,
-015%
slipped 08%

U.S. Certificates of Deposit for Chinese electric vehicle maker Nio Inc undefined extended its rally on Thursday, also lifting the ADRs of rivals Li Auto Inc undefined and XPeng Inc undefined a day after Citi analysts raised their target of price on Nio and started hedging Li and XPeng Citi analysts raised their target on Nio’s ADR price to $ 46.40, from $ 33.20, « to reflect our increasingly positive industry outlook and outlook. higher bullish self-driving subscription business model (from Nio), « they said in a note this week The target implies a rise of around 17% from Nio’s Thursday prices Analysts have rated Li Auto as the equivalent of «  hold  », saying the company will break even in 2022 thanks to the growth in sales volume and improved margins Citi valued XPeng for purchase, expecting the company to show 57% sales volume growth over the next five years and break even in 2024 Nio’s ADRs grew by 900% this year, compared to gains of around 9% for the indefinite S&P 500 index

XPeng BEV market share to double to 6% by 22E

We expect XPeng’s market share to reach 6% of China’s BEV sales in 22E, compared to 3% in 20E, given its 1) competitive products with the highest NEDC range in the market (P7: 706m / load ), 2) rapidly developing autonomous driving technology (current: L2, 1Q21: L3) with more frequent upgrades providing better visibility, 3) its position as one of the few suppliers with the ability to upgrade FOTA level (offering the best

Tomi Kilgore is the Associate Editor of Investments and News for MarketWatch and is based in New York City You can follow him on Twitter @TomiKilgore

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International Brotherhood of Teamsters, United Parcel Service, Teamsters Canada