markets

Max Knoblauch2/25/26

Joby announces plans to offer air taxi rides in the Uber app in Dubai

Air taxi maker Joby Aviation is climbing in premarket trading on Wednesday following its announcement that Uber Air (a planned partnership to add Joby’s air taxis as a transport option in the Uber app) will launch in Dubai later this year.

Joby shares are up more than 6%.

According to its press release, booking an air taxi through the Uber app will also include an Uber Black pickup and drop-off.

First, Joby will need its air taxis certified for commercial service in the UAE. Last February, the company said it expected to be flying passengers in the country “in late 2025 or early 2026,” though that timeline appears to have been delayed. According to a report by The National in November, UAE authorities said they expect certification in the third quarter.

The company’s progress in the US is slower, though it entered the final stage of its FAA certification process last year and is expected to provide an update to that timeline when it reports its fourth-quarter earnings after the market closes Wednesday.

The announcement marks a deepening of Joby and Uber’s partnership. Last year, Uber said it would add Joby’s Blade helicopter and seaplane services to its ride-hailing app.

Get Ready for Takeoff With Uber and Joby

Get Ready for Takeoff With Uber and Joby

According to its press release, booking an air taxi through the Uber app will also include an Uber Black pickup and drop-off.

First, Joby will need its air taxis certified for commercial service in the UAE. Last February, the company said it expected to be flying passengers in the country “in late 2025 or early 2026,” though that timeline appears to have been delayed. According to a report by The National in November, UAE authorities said they expect certification in the third quarter.

The company’s progress in the US is slower, though it entered the final stage of its FAA certification process last year and is expected to provide an update to that timeline when it reports its fourth-quarter earnings after the market closes Wednesday.

The announcement marks a deepening of Joby and Uber’s partnership. Last year, Uber said it would add Joby’s Blade helicopter and seaplane services to its ride-hailing app.

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Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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