NEW YORK (TheStreet) -- Maxwell Technologies(MXWL) - Get Report surged 18% Tuesday to close at $6.02 after the company announced that one of its systems will become a standard feature on General Motors’ (GM) - Get Report Cadillac cars next year.
Continental Automotive Systems' voltage stabilization system, featuring Maxwell’s ultracapacitors, will be a standard feature on most 2016 Cadillac ATS and CTS sedans and ATS coupes, the company said. General Motors is the first North American carmaker to integrate the equipment as part of an enhanced start-stop system, which lowers fuel costs, improves performance and reduces emissions, Maxwell said in a statement.
“Maxwell's ultracapacitors enable consumers to get the fuel economy they desire without limiting their cars' performance," Maxwell Technologies CEO Franz Fink said in a statement. The deal with GM and Continental “is a further affirmation of our ultracapacitor capability for varying applications as the automotive industry continues down its path of vehicle electrification."
Unlike batteries, which produce and store energy by means of a chemical reaction, ultracapacitors store energy in an electric field that enables them to charge and discharge in as little as fractions of a second, perform normally over a broad temperature range, operate more reliably and resist shock and vibration, the company said.
More companies are boosting their online and mobile delivery service options.
Target(TGT) - Get Report is teaming up with Instacart to test same-day grocery shipments in its hometown of Minneapolis. The service started Tuesday, letting users order perishables and household goods for delivery in as little as an hour, the Associated Press reported. Target is exploring plans to expand to other markets.
Target will be Instacart’s second-largest retail partner by revenue, behind Costco (COST) - Get Report, which will expand inventory and help the San Francisco-based startup position itself with brick-and-mortar retailers as the antidote to Amazon(AMZN) - Get Report, Bloomberg reported. That will probably encourage Amazon to increase the pace of its grocery expansion in 2016, Steven Weinstein, senior Internet analyst at ITG Investment Research, told Bloomberg.
Target rose nearly 1% to close at $77.82 while Amazon rose 0.2% to $522.37.
Meanwhile, Walgreens(WBA) - Get Report and Postmates cemented their relationship for delivery of goods and medications, Re/code reported. Postmates will carry a larger catalog of items for delivery from Walgreens and Duane Reade stores around the country, and Walgreens will share some of the marketing burden, the Web site said.
Walgreens gained close to 1% to end regular trading at $90.92.
Also Starbucks(SBUX) - Get Report said its nine-month-old mobile ordering service is a “winner,” and the coffee and tea purveyor is speeding up the rollout of the app nationwide to have all company-owned stores up and running by the end of September, according to Geekwire. It’s also planning to launch a Google (GOOGL) - Get Report Android app this month to further expand the service, with a delivery pilot program with Postmates to start later this year. Starbucks stock rose 1.1% to $56.91, and Google gained 1.9% to close at $665.07.
Microsoft(MSFT) - Get Report gained 2.2% to $43.98 after an analyst’s comments about a potential deal to purchase Advanced Micro Devices (AMD) - Get Report. Piper Jaffray analyst Katherine Engbert said that although such an acquisition may be unlikely, it could be completed at a 20% premium in all cash and may have only a muted effect on Microsoft earnings in 2016, Benzinga reported.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.