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  • 08.18.16

Morning intel: Uber’s self-driving cars roll out this month, Walmart stock up 2.8% 

• Uber is reportedly wheeling out its first fleet of self-driving cars—modified Volvo XC90s—in Pittsburgh this month, according to Bloomberg. The cars will still have human drivers, at least for the time being.

• Contrary to a report from Wednesday, Cisco is only laying off up to 5,500 people—less than half of what was reported earlier. Still, this is about 7% of the company’s workforce. 

• Walmart’s quarterly earnings exceeded expectations with revenue of $120.85 billion and an increase of 1.6% in U.S. same-store sales. Its stock price is up 2.8% in pre-market trading, though Walmart noted that the Jet acquisition would decrease earnings per share by five cents.PM