|Bid||28.56 x 1200|
|Ask||28.58 x 4000|
|Day's Range||28.27 - 28.84|
|52 Week Range||25.58 - 47.08|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||43.79|
To get a taste of what’s coming, head to California. On Jan. 1, two new California laws will try to address some of the thorniest issues created by tech companies’ mounting power. Let’s start with AB (Assembly Bill) 5, which focuses on improving working conditions for “gig” economy workers at places like (UBER)(ticker: UBER), (LYFT) (LYFT), DoorDash, Postmates, and Instacart.
(Bloomberg) -- Uber Technologies Inc. appealed a U.K. regulator’s decision to revoke its license in London, fighting back against a move that could put its biggest market in Europe at risk.Transport for London last month denied Uber a new operating license, saying the firm had failed to adequately verify drivers’ identities and safeguard the service for passengers. The ride-hailing app’s appeal could take years and it will be able to continue operating in the meantime.“We are committed to Londoners and are working closely with TfL to address their concerns and requests, as we have since 2017,” Jamie Heywood, Uber’s regional general manager, said Friday in a statement.“When it comes to safety on our platform our work is never done and we will keep listening, learning and improving,” he said.At least 14,000 trips involved drivers who weren’t who they said they were, the regulator said in a statement last month. One driver found exploiting Uber’s app had already had a private hire license revoked by the regulator after it discovered the person had received a caution for distributing indecent images of children, it said.Chief Executive Officer Dara Khosrowshahi had called the decision to revoke the license “just wrong” on Twitter. Heywood had said Uber discovered a flaw in its app in May that allowed 43 people to make unauthorized trips and immediately informed regulators. Uber has since fixed the issue.\--With assistance from Amy Thomson.To contact the reporter on this story: Ellen Milligan in London at email@example.comTo contact the editors responsible for this story: Anthony Aarons at firstname.lastname@example.org, Christopher Elser, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Uber submitted an appeal on Friday against a decision by London's transport regulator to strip the taxi app of its right to operate in one its most important markets, setting up a potentially lengthy legal process during which it can continue to take rides. Last month, Transport for London (TfL) refused to grant the Silicon Valley-based company a new license due to what it called a "pattern of failures" on safety and security, the latest stage of a long-running battle with the authorities. Uber, which was also denied a license by TfL in 2017 before a judge restored it on a probationary basis, said it had changed its business model over the last two years and would go further, as it lodged its appeal at Westminster Magistrates' Court.
InvestorPlace contributor Vince Martin recently wondered what it would take for Lyft (NASDAQ:LYFT) to break out of its slump. Despite a flawless performance over the last three quarters, Lyft stock has continued on a downward spiral from its March IPO. Source: Alex Millauer / Shutterstock.com Investors remain concerned about its pathway to profitability. At the moment, it expects to hit EBITDA profitability by the end of 2021, but if you only work with GAAP numbers, that extends out to 2023. Naturally, that's been a big headwind for America's second-largest ride-hailing app behind Uber (NYSE:UBER). InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt turns out that Barclays Capital might have an answer to Lyft's problems.Recently, it analyzed 2.4 billion taxi and ride-hailing trips in New York City to get a better grip on when Lyft would become profitable. What it found out might surprise you. Higher Prices Wouldn't Hurt LyftAfter looking at the data, analysts Jeffrey Meli, Adam Kelleher, Ryan Preclaw, and Ross Sandler found that if Lyft raised prices for its rides, volumes would only drop by a small amount, while the extra revenue would help it generate an operating profit. * The 10 Worst Dividend Stocks of the Decade As an interesting aside, the analysts found that the introduction of ride-hailing services into the least gentrified areas of New York City actually increased the number of rides taken in those neighborhoods, suggesting that companies such as Lyft and Uber are actually making a positive contribution to society by adding to transportation infrastructure. Social messages aside, let's consider the numbers based on Barclays' suggestion higher prices won't dramatically hurt volumes. Lyft's Latest QuarterAt the end of September, Lyft had 22.3 million active riders. It generated $42.82 in revenue per active rider, $9.19 more than in the same quarter a year earlier and $3.06 greater than in the second quarter. It defines active riders as follows:"We define Active Riders as all riders who take at least one ride on our multimodal platform through the Lyft App during a quarter. An Active Rider is identified by a unique phone number. If a rider has two mobile phone numbers or changed their phone number and such rider took rides using both phone numbers during the quarter, that person would count as two Active Riders."While Lyft doesn't reveal the total number of rides taken in a quarter, the active rider statistics give us a good idea. Let's assume that the average Lyft ride costs $12.53. I'm using a figure for 2015, but I would doubt the figure's changed dramatically given both ride-hailing apps have been elbowing for market share.This means that the average active rider might take 3.4 trips per quarter using Lyft. Based on this average, let's assume that the average cost of a Lyft ride is increased by 20% from $12.53 to $15.04. Let's also assume that this reduces the number of trips taken by 5% from 3.4 to 3.2 per quarter. So, if the number of active riders remains the same at 22.3 million, the revenue per active rider increases to $48.13 from $42.82, and Lyft's total revenue increases by 12.3% in the quarter to $1.07 billion from $955.6 million. In the third quarter, Lyft had an operating loss of $490.9 million. Subtract the $117 in additional revenue from the 20% increase in the cost of the average Lyft ride and you start to see a pathway to profitability. What Does This Mean for LYFT Stock Price? One thing my back-of-the-napkin calculation didn't take into account is the many ways in which Lyft is working to boost its margins. For example, the company's contribution margin in the third quarter was 50%, 500 basis points higher than in the same period a year earlier. Should the company continue to increase the contribution margin, operating profits would most certainly come sooner. In October, I argued that given there were plenty of companies already making money with revenues similar to Lyft's, this reality made LYFT stock a poor second choice. And as I stated back then, while analysts love Lyft, I don't.That said, the Barclays analysts make a very good argument, and while I still wouldn't own it, that doesn't mean you shouldn't. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Worst Dividend Stocks of the Decade * 7 Game-Changing Tech Stocks to Buy Now * 5 Chinese Stocks to Buy for the Big 2020 Rebound The post Higher Prices Very Well May Be the Savior of Lyft Stock appeared first on InvestorPlace.
Teamsters scored a victory in unionizing Spin’s blue-collar workers and is aiming to target similar employees at these three scooter companies.
Lyft Inc on Thursday launched a rental option on its app that will allow certain riders in San Francisco Bay Area and Los Angeles to rent cars, the ride-hailing company said on a blog post. The loss-making company and its larger rival Uber Technologies Inc have over the years relied on heavy subsidies to attract riders, and are also spending to expand into other areas. As rental companies gobble up more and more cars at discounted prices, margins of carmakers like General Motors are imploding, particularly in Sao Paulo, Uber's busiest city in the world.
Pomerantz LLP is investigating claims on behalf of investors of Uber Technologies Inc. (“Uber” or the “Company”) (NYSE: UBER). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. The investigation concerns whether Uber and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
2019 was one of the busiest years for IPOs, and the calendar was packed with big tech unicorns and popular consumer brands. Here are some of the hottest market debuts we saw this year.
Uber Freight has succeeded in modernizing trucking, but traditional companies are quickly adjusting to the competition.
In California, the ride-hailing company is changing a policy used as a safeguard against driver discrimination against low-income and minority riders.
Uber is launching a new feature aimed at skiers and snowboarders. The ride-hailing company said Wednesday that beginning December 17 an Uber Ski icon will pop up on the app that will let customers order a ride with confirmed extra vehicle space or a ski/snowboarding rack. Uber is launching the feature in 23 U.S. cities located in areas near mountain resorts, such as Anchorage, Boise, Boston, Eastern Washington, Flagstaff, Ariz., Grand Rapids, Mich., Green Bay, Wis., Lehigh Valley, Minneapolis-St. Paul, New Hampshire, Portland, Ore., Portland, Maine, Salt Lake City, Seattle, Upstate New York, Vermont, Wilkes-Barre, Scranton and Worcester, Wyo. Riders living in Colorado cities such as Colorado Springs, Denver, Fort Collins and the front range of the Rockies where numerous resorts are located will also have the feature.
(Bloomberg) -- Amazon.com Inc.’s purchase of a minority stake in Deliveroo may get an extended review by U.K. antitrust regulators, who said the purchase could hurt competition by discouraging the American company from re-entering the British food-delivery market on its own.The Competition and Markets Authority will continue to review Amazon’s investment in the fast-growing startup unless they offered remedies to address competition concerns within five days. The investigation, which began in October, may go into a second phase and could eventually result in the blocking of the investment of around $500 million.Over the next four years, the food-delivery business is estimated to increase 12% a year, to $76 billion in 2022, according to investment firm Cowen Inc. While the U.K. market is competitive, Amazon’s size makes it a major force in any sector. The CMA said the deal might end Amazon’s interest, discussed in internal documents, in re-entering the British market through the purchase of another platform. It shuttered its Amazon Restaurants delivery unit in 2018.“Evidence examined in the CMA’s investigation indicated that Amazon has a strong continued interest in the restaurant delivery sector,” the regulator said Wednesday. “The CMA believes that Amazon’s investment in Deliveroo was strategic and that offering rapid food delivery is important to Amazon, and so it may have looked to invest in an alternative business absent the merger.”The original decision to investigate the deal was unusual for the CMA as it doesn’t typically review minority acquisitions. Fears of damage to competition may have been fed by previous mergers by tech giants that were let through by regulators, such as Facebook Inc.’s acquisition of messaging service WhatsApp.Amazon’s British Takeout Leaves an Unpleasant Taste: Alex WebbThere is a “real risk” that Amazon’s investment “could leave customers, restaurants and grocers facing higher prices” because of reduced competition, CMA Executive Director Andrea Gomes da Silva said in the statement.A spokesman for Deliveroo said the company is “confident” it can persuade the CMA the investment will “add to competition,” while an Amazon spokesman said Deliveroo should have “broad access to investors and supporters.”The decision may cause concern for the internet giant, which has already faced European hurdles.It closed its own U.K. food-delivery service in December 2018, with the U.S. unit following the same path several months later. Amazon was among the five big businesses singled out in December by the Labour Party, which said they “exploited, ripped off and dehumanized” their workers, just after regulators in Europe said over the summer that they would start looking into how tech companies protect customers’ privacy.Difficult DecisionsThe CMA has offered Amazon and Deliveroo the chance to avoid an extended probe if they offer changes to its competition worries. Alan Davis, a competition lawyer at Pinsent Masons, said it is “difficult to see immediately what remedies they could offer at Phase 1 to resolve the concerns.”The U.K. food delivery sector is dominated by three players, Just Eat Plc, Uber Technologies Inc.’s unit Uber Eats and Deliveroo. Competition between them is considered fairly fierce, making it difficult to make money. Deliveroo has never made a profit, losing 232 million pounds ($305 million) last year.Meanwhile, Just Eat, the U.K.’s biggest food deliverer by market share, has been in talks with Prosus NV about a possible bid for the firm. The company advised shareholders to reject Prosus’s latest 740 pence-per-share offer Tuesday, preferring them to stick to an all-share combination with Netherlands-based Takeaway.com NV.The CMA decision also puts the undisclosed rights that Amazon acquired as part of the acquisition in the spotlight.“The nature of the CMA’s concerns seems the rights that come with the minority holding,” said Josh Buckland, a competition lawyer at Linklaters. “One potential solution could be to relinquish those rights and stay on board as a minority shareholder.”It’s very likely that the deal would be referred to an in-depth investigation, Buckland said.The CMA also expressed concern about how Amazon’s investment might change the online convenience grocery delivery market outside food. Deliveroo is focused on food delivery, and supermarket chains may rely on it to deliver “ultrafast” groceries because their own logistics providers can’t meet the tight deadlines, the CMA said.“The CMA believes that both parties have major expansion plans in this area which would bring them in closer competition in the future,” the regulator said. “The merger would result in the combination of two of the largest and best established suppliers of online convenience groceries. Most competing grocery retailers that are trialing propositions in this market are reliant on a single logistics supplier” without the scale of either Deliveroo or Amazon.(Updates with comments and detail from seventh paragraph onwards.)To contact the reporter on this story: Eddie Spence in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Christopher Elser at email@example.com, Giles TurnerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Like many Uber drivers in Sao Paulo, the ride-hailing app's busiest city in the world, Augusto Caio Pereira does not actually own or lease the car he nudges through the city's notorious traffic jams every day. Instead, he rents Brazil's best-selling car, the Chevrolet Onix hatchback, for 390 reais ($93) a week from Localiza Rent a Car, the country's largest rental company. Pereira lost his job at a law firm a few months ago, joining Brazil's 12 million unemployed.
Like many Uber drivers in Sao Paulo, the ride-hailing app's busiest city in the world, Augusto Caio Pereira does not actually own or lease the car he nudges through the city's notorious traffic jams every day. Instead, he rents Brazil's best-selling car, the Chevrolet Onix hatchback, for 390 reais ($93) a week from Localiza Rent a Car , the country's largest rental company. Pereira lost his job at a law firm a few months ago, joining Brazil's 12 million unemployed.
Uber Technologies, Inc. (NYSE: UBER) announced today that Dara Khosrowshahi, chief executive officer, will participate in a keynote at the Barclays 2019 Global Technology, Media and Telecom Conference on Wednesday, December 11, 2019. Mr. Khosrowshahi is scheduled to appear at 3:30 p.m. Eastern Time.
The latest company to enter the public market is the business-to-business payments company Bill.com. Founder & CEO René Lacerte joins Yahoo Finance’s On The Move panel from the New York Stock Exchange to discuss the company’s market debut.
The growth of online shopping and a nationwide truck driver shortage have created a perfect opportunity for Uber. Uber Freight is the fastest growing segment of the ride-hailing company. Yahoo Finance’s Akiko Fujita was joined by Head of Uber Frieght Lior Ron and Uber Shipper Product Lead Stefan Sohlstrom to discuss.