Delphi was among thirteen price gainers that beat out seven price losers to help the Driverless Transportation Weekly Stock Index (D20) gain 0.7 percent and close at 198.09 to clinch its third consecutive “up” week.
The D20 just outpaced the S&P 500 Index, which rose 0.6 percent and closed just under 2,400 at 2,399.29. The Dow Jones Industrial Average closed above the 21,000 mark at 21,006.94 for a 0.3-percent gain, but was still doubled up by the D20.
Delphi (DLPH) led the D20 with its commitment to spin off the combustion engine part of its business to focus on electric and connected vehicles. The market cheered as Delphi gained $7.30 per share, or 9.5 percent, to close at $87.70 a share.
French parts maker, Valeo SA (VLEEY) and Japanese electronics and chip manufacturer, Renesas (TYO:6723) both enjoyed good weeks as well. Valeo’s ADR rose 3.5 percent to close at $37.20 and Renesas, which is listed on the Tokyo exchange, jumped 3.8 percent to end the week at ¥1101.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
The Campbell, California startup, Renovo has taken money from Verizon among others in a $10-million venture round. Renovo is taking that money to become a driverless operating system provider to automakers and fleet operators. Verizon’s investment is an attempt to insert itself into the driverless space, where its network and services will play a huge role.