The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1606 ET - Ford expects to receive a one-time, $1.3 billion tariff refund following the Supreme Court's February ruling striking down President Trump's global tariffs. The expected refund helped boost the automaker's 1Q profit to $2.55 billion, according to the company's earnings release. Still, Ford suggests that the timing of the refund is unclear, noting that its outlook assumes no benefit to adjusted free cash flow until 2027. The company also says it expects to pay around $1 billion in other tariffs this year. Rival automaker General Motors said Tuesday that it is expecting a $500 million tariff refund. (elias.schisgall@wsj.com)
1350 ET - Uber is taking steps to become more of a one-stop shop for travel. Through a partnership with Expedia, the ride-hailing platform will allow U.S. users to book hotel stays through its app, with plans to also add vacation-rental properties listed through Expedia-owned Vrbo later this year. The company is also expanding into travel with other changes, including a new "travel mode" within the Uber and Uber Eats apps that offers recommendations on local favorites, tourist destinations and OpenTable reservations. The mode also offers Uber's version of "room service," allowing users to order food or forgotten items directly to their hotel door. "Users can now think of the Uber app as a personal travel concierge," the company says. (kelly.cloonan@wsj.com)
1345 ET - Uber and Expedia are teaming up to offer each others' services on their respective platforms. Under the partnership, Uber customers will be able to book hotels directly in the ride-hailing app, with access to a selection of properties listed on Expedia. And following an initial pilot, Uber rides will be integrated directly in the Expedia app beginning in June. Travelers will receive push notifications before their hotel check-in date to book Uber rides at a discount for the duration of their trip, Uber says. Expedia says the partnership aims to make travel feel effortless. "This partnership gets us one step closer to offering a seamless traveler experience," Expedia CEO Ariane Gorin says. (kelly.cloonan@wsj.com)
1233 ET - Higher fuel costs are eating into CN Rail's operations and could worsen as the year progresses. Adjusted operating ratio rose to 64.2% from 63.4% a year earlier, a key cost-efficiency measure where a lower number signals stronger profitability. Analysts had expected it to deteriorate to 64%. CFO Ghislain Houle warned the pressure may intensify, saying on the investor call that "the dark cloud I'm seeing right now in 2Q is fuel. If fuel prices remain where they are for the rest of the quarter, that could be a hit on the OR north of 200 basis points and a small hit on EPS of about a couple of pennies." (adriano.marchese@wsj.com)
1117 ET - Global air traffic demand grew in March, though a sharp fall in Middle East traffic weighed on growth, according to data from the International Air Transport Association. Global demand for air travel rose by 2.1% in March compared to the prior year. However, the figure was dragged by a more than 60% fall in air traffic demand in the Middle East, the organization said. Demand grew in all other regions, it said. "Everybody's watching what's happening with jet fuel--both supply and pricing," says Willie Walsh, IATA's director general. (josephmichael.stonor@wsj.com)
1039 ET - As fuel costs take a larger bite out of operating expenses, CN Rail says it is pushing to improve efficiency. The railway posted a record first-quarter fuel efficiency of 0.892 U.S. gallons per 1,000 gross ton-miles, with total fuel consumption at 105.6 million gallons up from 105.3 million a year earlier, a 3% in efficiency improvement from a year earlier. Train length, weight and speed were higher in the quarter. (adriano.marchese@wsj.com)
0914 ET - Stellantis looks to be opening up tentative road toward recovery, Citi analysts say. The auto giant, which makes Jeeps, Citroens and Peugeots among other brands, said earlier this year it is aiming to return to profit after booking a hefty net loss for 2025. That recovery has been unclear so far, but recent moves suggest the company is looking carefully at its China strategy and brand capital allocations, Citi says. "Whilst none of these are magic wands, they do provide some improved roadmap to Stellantis's future," the bank says, keeping a neutral rating and a 7.50 euro target price on the stock. (joshua.kirby@wsj.com;@joshualeokirby)
0502 ET - Jet2 faces a significant risk of cuts to consensus revenue and earnings forecasts, RBC Europe's Ruairi Cullinane and Jakub Glinkowski say. The London-listed airline is reporting a trend among passengers to book their flight tickets later, they note. Meanwhile, growth in booked-to-date passengers has slowed down to 6.2% on year, from 7.9% on year at its February update, the analysts say. Fuel prices have also continued to increase, they add. However, Jet2 has hedged 87% of the fuel it needs for this summer at $707 per metric ton. This provides a high degree of cost certainty compared with other airlines, the analysts say. Shares are up 1.2% at 10.83 pounds. (cristina.gallardo@wsj.com)
0453 ET - Jet2 faces an uncertain macroeconomic backdrop, elevated jet fuel costs and a later customer booking trend, Jefferies analysts say. That, together with the London-listed airline's focus on increasing its load factor--a measure of how full their aircraft fly-- by limiting prices, and comments from other airlines persuade Jefferies to reduce its estimates for fiscal 2027. The analysts cut their EBIT forecast for fiscal 2027 by 36% to 250 million pounds. Jet2 confirmed its fiscal 2026 guidance is in line with consensus expectations, but has not yet provided forecasts for fiscal 2027. Jefferies cut its share price target to 18 pounds from 21 pounds. Shares are up 1.7% at 10.88 pounds. (cristina.gallardo@wsj.com)
0445 ET - Jet2's future is bright despite a potentially challenging fiscal 2027, Peel Hunt's Ivor Jones and Douglas Jack say. The London-listed airline continues to be an efficient operator of a fleet with a plan to grow and upgrade, they note. Its customers are older and wealthier than average, as well as fiercely loyal to the brand, the analysts add. Peel Hunt cut its fiscal 2027 operating profit forecast for Jet2 by 43% to 240 million pounds, pointing to increases in fuel prices and Jet2's decision to price competitively despite demand remaining relatively robust. Shares are up 0.6% at 10.77 pounds. (cristina.gallardo@wsj.com)
0158 ET - Mercedes-Benz's first-quarter results look decent given the uncertain backdrop, analysts at Bernstein write in a note to clients. The German luxury auto maker booked lower revenue and earnings for the first three months compared with the same period of 2025, but backed its guidance for the full year, which includes an expected rise in operating profit. "This is a solid set of results [and] a good start to a very complicated year," Bernstein says. (joshua.kirby@wsj.com; @joshualeokirby)
0104 ET - Oil prices could extend gains if disruptions to maritime traffic through the Strait of Hormuz continue, Phillip Nova's Priyanka Sachdeva says in a note. Such disruptions could lift expectations for tighter oil supply. "Looking ahead, market attention is likely to remain fixated on supply-side developments and geopolitical signals emerging from the Gulf region," she says. Front-month WTI crude oil futures are down 0.5% at $99.46 a barrel; front-month Brent crude futures are 0.1% lower at $111.19 a barrel. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
April 29, 2026 16:50 ET (20:50 GMT)
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