|Bid||35.29 x 1800|
|Ask||35.19 x 2200|
|Day's Range||33.40 - 35.48|
|52 Week Range||32.92 - 47.08|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||51.47|
San Francisco is home to hot IPOs like Uber, Lyft, Slack and Pinterest. Big swings in the stock market get less attention than sizeable moves with any of the cities biggest publicly traded names.
South Korea’s sovereign-wealth fund made some big changes in its transportation investments and adjusted its holdings in a social-media platform.
Aggressive price-cutting won’t disappear with autonomous vehicles, so gross margins will remain wafer-thin.
Uber says it’s a technology platform but the company accepts cash, a dangerous low-tech way to boost revenue in Brazil and some other foreign locations .
Stanford University owns shares of Uber, CrowdStrike, and Pinterest. It also acquired a stake in biotech stock Atreca in the second quarter and slashed its investment in Dropbox.
WeWork is gearing up for an IPO. On Wednesday, the company made its IPO filing with the SEC public and expects to garner $3.5 billion from its IPO.
From a scoreboard that's just under 10,000 square feet to an army of more than a thousand construction workers, the numbers behind S.F.'s new Chase Center illustrate the mammoth scope of the project.
(Bloomberg) -- Some early investors in the ride-hailing company Lyft Inc., one of the most anticipated yet disappointing IPOs of the year, will get their first opportunity to sell shares on Monday.The lockup expiry was brought ahead from Sept. 24, as the original date would have fallen within Lyft’s blackout period ahead of third-quarter earnings.Lyft estimated that about 258 million Class A shares may become eligible for sale at the market open on Aug. 19. The company had 280 million Class A shares outstanding as of July 31, according to Bloomberg data. Including Class B shares, equity award plans and restricted stock units, the total diluted number of shares stood at about 341.5 million. The company’s shares gained as much as 1.8% in New York on Friday.In a report published after Lyft’s earnings on Aug. 7, DA Davidson analyst Tom White said the company’s co-founders Logan Green and John Zimmer will not be selling shares at the time of the lockup expiry.Lyft’s latest quarterly results, which surpassed expectations, outshone larger rival Uber Technologies Inc., which reported a “messy” quarter, analysts said. Lyft shares have fallen 12% since reporting earnings on Aug. 7, while Uber shares have dropped 20% since reporting its earnings a day later.(Adds details in third paragraph, updates shares in fourth paragraph.)To contact the reporter on this story: Esha Dey in New York at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Renaissance Capital took a jab at the shared office space giant in a recent blog post. The newly named We Co. shows a trailing operating loss of about $1.7 billion on the IPO prospectus it filed this week. Uber showed an operating loss of about $1.8 billion before it went public in May. Until WeWork's listing in September, there are no other New York companies going public in August.
Progressive (NYSE:PGR) is certainly a well-know fixture for consumers. It's the No. 3 auto insurer in the country and has a foothold in the home insurance market.Source: Shutterstock What many don't realize is PGR has been in the insurance business since 1965 and is one of the most consistent leaders in incorporating new technology into the property & casualty (P&C) sector.Up until recently, insurers were enjoying an ideal market. Slow, steady growth and low interest rates meant consumers were comfortable, and looking to upgrade cars, houses, jet skis, motorcycles, and the like.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Cheap Dividend Stocks to Load Up On And the strong dollar was very helpful since Progressive, like all insurers, has to keep a chunk of the cash it gets from premiums in cash or cash alternatives like U.S. Treasury bonds so it can pay out any potential losses.The rest of cash it can invest to help boost its returns. Insuring more things that are newer means more premium growth, which means more money to invest.When you have falling rates on Treasuries, you have rising prices, which means PGR is making money on its cash equivalents. And when the stock market is strong, it means PGR is making money on its investments.In Q2, which was reported in mid-July, PGR's net investment income was up 43% compared to the same quarter last year. Its unrealized equity gains were up $505 million, compared to a $102 million loss last year.The auto insurance line grew premiums 15% year over year, and including all lines, business was up 12%. This includes losses from the Midwest floods and the fires out West.There was also a recent report from the Swiss Re Institute that insured losses in the first half of 2019 were down 30%. That is a great environment for a P&C insurer and PGR stock. It means that much more of its money can be earning instead of being paid out on claims. Company Expansion Will Help PGR StockMoving forward, which is what Progressive does relentlessly, judging by its Q2 investor presentation, the company is looking to expand its commercial vehicle and property insurance sector.This is a huge and expanding market where PGR has some exposure, but it seems it's looking to make significant inroads, given the fact that its entire Q2 presentation was about the market and the opportunities within the market.This sector covers everything from fleet vehicles to contractor programs (heavy duty machinery and equipment), to for-hire transportation (contracted tractor trailers and drivers) as well as everything in between. It even includes Uber (UBER) drivers.The point is, Progressive is already taking advantage of the evolving gig economy within its product lines.PGR stock is up 20% in the past year and 29% year to date. And because it's a U.S.-focused company, international issues aren't significant for PGR. That's why my Portfolio Grader gives PGR stock an A and continues to rate is as a strong buy. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Can Anything Stop Progressive Stockas Ascent? appeared first on InvestorPlace.
Elsewhere on Friday: -- Parsing (some of) the small print in WeWork’s bizarre S-1. -- Peterson Institute: Five interesting things about the latest US tariffs on China. -- All we are is dust in the wind: ...
Jimmy John's is doubling down on its "freaky fast" delivery promise — and is refusing to work with food delivery giants like GrubHub, Uber Eats, and Postmates.
WeWork's parent company The We Company has filed on behalf of its shared workspace brand to go public under the ticker symbol WE, but hasn't yet chosen which exchange to list it on. Nevertheless, the $1 billion raise has both Wall Street and tech reporters excited, if for different reasons.Source: Mitch Hutchinson / Shutterstock.com Wall Street hopes the "space as a service" business can re-ignite an IPO market disappointed by the performance of Uber (NYSE:UBER), which still sells for less than its initial $42 trade. But, many tech reporters argue that WeWork isn't a tech company at all.WeWork's S-1 describes a way to put workers into high-class space for less than half the cost of a standard lease. The idea is to aggregate office demand from large employers. It bases a $47 billion valuation on losses of $690 million over the last six months, evidence of just what a ground-floor opportunity this is.InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Magic of LeverageThe most interesting chart in the S-1 compares where WeWork is today against where it hopes to be 9-18 months from now. The money is currently in finding space and building it out, but the money will soon come from selling monthly memberships to fill the space. It claims to have 528 co-working spaces in 111 cities across 29 countries. Half of WeWork's 527,000 members reside outside of the United States. * 10 Stocks Under $5 to Buy for Fall Its rival IWG (OTCMKTS:IWG), formerly known as Regus, rents small offices in suburban locations. WeWork on the other hand is splashing its name all over downtown office towers. IWG made a profit last year on revenue of $3.4 billion and has a market cap of just under $3.7 billion. Last year, WeWork lost $1.9 billion on revenue of $1.8 billion and claims a $47 billion market cap.How is this possible? Some of it is due to its backers, like Benchmark Capital, JPMorgan Chase (NYSE:JPM), and the SoftBank (OTCMKTS:SFTBY) Vision Fund. Part of it is due to global ambitions, its use of expensive real estate and its seeking of high-profile corporate lessors. Part of it is just hype.Bloomberg Opinion's Shira Ovide, who writes about technology, tweeted that WeWork's IPO filing is "… THE MOST BANANAS THING I HAVE EVER READ." She also writes that WeWork is "the most magical unicorn" to ever come to market. WeWork vs. UberUnlike Uber, which developed a scaled market before coming public, The We Company is coming public ahead of its key growth period. In addition to its small equity raise, the company is also pursuing an asset-backed loan of $6 billion. Should the stock hold its IPO price -- and the limited float gives it a good chance of that -- its backers can mark nearly 150 million pre-IPO shares to market and clear enormous paper profits.WeWork is also playing the dual-share game to the hilt. IPO investors will get shares with one vote each. Class B and Class C shareholders, like founder Adam Neumann, get 20 votes per share. The Bottom Line on WeWork StockUber is an example of a 2010s' unicorn. It went public after creating its market as a scaled, if money-losing company. WeWork is more like a 1990s' Internet IPO, with more zeroes attached to it. Public investors are getting in earlier in the business' growth process, at least according to the prospectus.But the critics are right. WeWork is not a tech company. A chart in its S-1 shows Facebook (NASDAQ:FB), Salesforce (NYSE:CRM), and Cisco Systems (NASDAQ:CSCO) using We services, space and products to cut the costs of growth.But what they're doing is renting contingent space, only some of which they'll use. Maybe The We Company is just a corporate real estate version of LA Fitness (OTCMKTS:LFSA).Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in CSCO and JPM. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks Under $5 to Buy for Fall * 5 Stocks to Avoid Amid the Ongoing Trade War * 7 5G Stocks to Buy Now for the Future The post WeWork Stock's Numbers Just Don't Work for its Coming IPO appeared first on InvestorPlace.
Capital is pouring into food delivery apps, putting leaders like Grubhub and Uber Eats in a race to entice customers. Grubhub stock and Uber stock have a lot on the line.
Yahoo Finance's Jen Rogers joins The Final Round from San Francisco to discuss why the biggest tech companies is Silicon Valley don't care about the stock market.
Aug.15 -- Southeast Asian ride hailing company Grab co-founders Anthony Tan and Hooi Ling Tan talk about how they bought Uber's ride-sharing business in Southeast Asia. They talk to Emily Chang on "Bloomberg Studio 1.0."