Pulse of The Market: Tuesday’s 10 Top Performers

2. Mobileye Global Inc. (NASDAQ:MBLY)

Mobileye grew its share prices for a third straight day on Tuesday, adding 8.65 percent to close at $16.58 each as investors cheered news of the company’s partnership with German carmaker Volkswagen.

In a statement, Volkswagen said it would collaborate with MBLY and Valeo to support the development of its autonomous driving system and will draw on the two suppliers’ capabilities for enhanced partially automated driving.

Also known as Level 2+ systems, vehicles would be able to drive on their own but would still require driver supervision.

Volkswagen said the new models would have higher security and driver comfort over the next few years.

“This cooperation supports us on our road to transformation: by sourcing hardware and software together, we streamline procurement, reduce complexity, and improve efficiency. It also empowers our performance program by enhancing technology while keeping costs competitive, ensuring high-quality solutions for our customers,” said Dirk Große-Loheide, chief procurement officer for Volkswagen.