UBER - Uber Technologies, Inc.

NYSE - NYSE Delayed Price. Currency in USD
31.12
+0.99 (+3.29%)
At close: 4:02PM EDT
Stock chart is not supported by your current browser
Previous Close30.13
Open30.22
Bid31.11 x 1000
Ask32.00 x 800
Day's Range29.82 - 31.54
52 Week Range28.31 - 47.08
Volume7,941,640
Avg. Volume9,436,938
Market Cap52.904B
Beta (3Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-3.01
Earnings DateNov 4, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est49.53
Trade prices are not sourced from all markets
  • Financial Times

    Carlyle aims to sell Addison Lee before debt deadline

    Carlyle has instructed advisers to sell taxi business Addison Lee by early next year as the private equity firm seeks to avoid a debt restructuring or extension. Addison Lee confirmed on Monday that banks were carrying out an “evaluation of our future capital structure”, focused on an “ongoing sales process”. Bank of America Merrill Lynch and Rothschild are advising.

  • Paytm Nears SoftBank, Ant Fundraising at a $16 Billion Valuation
    Bloomberg

    Paytm Nears SoftBank, Ant Fundraising at a $16 Billion Valuation

    (Bloomberg) -- Paytm is close to scoring $2 billion of new financing from investors including Jack Ma’s Ant Financial and SoftBank Group Corp., a person familiar with the matter said, describing a mega-deal that will raise the temperature in India’s increasingly heated financial payments arena.Rob Citrone’s Discovery Capital Management is also in discussions to join a funding round that values the country’s top online financial services firm at $16 billion, the person said, asking not to be identified talking about a private deal. The funding will be split evenly between equity and debt and is aimed at helping Paytm fend off an influx of rivals, the person said. Talks are in their final stages but the terms could still change, the person added.If a deal is finalized, Paytm could outstrip fellow high-profile Asian startups such as Grab and Gojek in valuation. Billionaire Paytm founder Vijay Shekhar Sharma is raising capital to protect the startup’s share of a potentially $1 trillion Indian payments market from newer entrants Facebook Inc., Alphabet Inc.’s Google and Walmart Inc.-owned Flipkart’s PhonePe. Over the past year, a string of new apps have made payments increasingly easy, bringing discounts and cash bonuses to young, smartphone-savvy users.Paytm remains the leader for now. The firm has in a decade become India’s biggest digital payments brand, attracting big names in investing from Alibaba co-founder Ma and SoftBank founder Masayoshi Son to Warren Buffett. Sharma got a huge boost in 2016 after India’s government moved to eliminate most of the nation’s paper money in circulation in a bid to curb corruption. His startup, a pioneer in the country’s nascent field, saw tens of millions of consumers and hundreds of thousands of businesses sign up for digital services in a matter of months.“India is a large market,” said Kunal Pande, head of financial services risk consulting at KPMG. “Digital payments adoption is growing quickly, yet there is room for massive growth as users get comfortable transacting digitally. The large business opportunity makes it attractive for both domestic startups and large global players.”Read more: Facebook and Google Chase a New $1 Trillion Payments MarketPaytm, which is also backed by Alibaba Group Holding Ltd., declined to comment in response to emailed questions. Ant had no immediate comment when contacted, while Discovery Capital and SoftBank declined to comment.Sharma is now extending his online empire into e-commerce and banking, even as others encroach on his turf. The Indian payments market remains a chaotic field where the rules are hazy on what players can offer, yet its promise has lured a string of competitors including Indian banks, its postal service and its richest man, Mukesh Ambani.Credit Suisse Group AG now estimates that the Indian digital payments market will touch $1 trillion by 2023 from about $200 billion currently. It’s a market with huge potential: Cash still accounts for 70% of all Indian transactions by value, according to Credit Suisse, and neighboring China is far more advanced with a mobile payments market worth more than $5 trillion.Ant Financial, China’s largest provider of internet financial services and one of Paytm’s earliest backers, has said it will continue investing in mobile-payment providers around the world to boost offshore revenue and buttress itself against rising competition and tighter regulation at home.It’s not clear how much SoftBank would contribute, but the Japanese company is going through a rocky stretch. SoftBank’s shares are down about 30% from their peak this year as investors, unnerved by the WeWork turmoil and Uber Technologies Inc.’s disappointing debut, grow skittish about startup valuations.\--With assistance from Lulu Yilun Chen, Hema Parmar and Vincent Bielski.To contact the reporter on this story: Saritha Rai in Bangalore at srai33@bloomberg.netTo contact the editors responsible for this story: Arijit Ghosh at aghosh@bloomberg.net, ;Sarah Wells at smcdonald23@bloomberg.net, Edwin Chan, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • ROSEN, A GLOBALLY RECOGNIZED LAW FIRM, Reminds Uber Technologies, Inc. Investors of Important Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact the Firm - UBER
    PR Newswire

    ROSEN, A GLOBALLY RECOGNIZED LAW FIRM, Reminds Uber Technologies, Inc. Investors of Important Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact the Firm - UBER

    NEW YORK , Oct. 14, 2019 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Uber Technologies, Inc. (NYSE: UBER) pursuant and/or traceable to the ...

  • Barrons.com

    Pinterest Fell As Its IPO Lockup Expired. Here Are the Other Stocks at Risk.

    It’s been rough sledding for 2019’s slate of newly public technology companies. In August, Barron’s cautioned many of this year’s hottest IPOs were facing big tests with their so-called stock lockup agreements about to expire. The lockup expirations typically occur six months after an IPO.

  • TheStreet.com

    Market Wrap: C$75 Million in Pot Destroyed by CannTrust, Uber Layoffs

    Uber announced that it is laying off 350 workers just four weeks after announcing the layoffs of 435 employees.

  • TheStreet.com

    A Profitability Play? What Investors Need to Know About Uber After Layoffs

    Uber announces that it plans to lay off 350 employees.

  • House panel 'strongly' urges Uber, Lyft to take part in hearing
    Reuters

    House panel 'strongly' urges Uber, Lyft to take part in hearing

    Uber Technologies Inc and Lyft have declined to appear at a hearing on Wednesday on ride-hailing industry issues, the chairman of the U.S. House of Representatives panel said, urging them to reconsider. "That is unacceptable," Representative Peter DeFazio told the company's chief executives in letters dated Monday. DeFazio said the House Transportation and Infrastructure Committee held numerous conversations with the companies' staff over the last few weeks, and "strongly urged" the companies to take part in the hearing.

  • U.S. House panel 'strongly' urges Uber, Lyft to take part in hearing
    Reuters

    U.S. House panel 'strongly' urges Uber, Lyft to take part in hearing

    Uber Technologies Inc and Lyft have declined to appear at a hearing on Wednesday on ride-hailing industry issues, the chairman of the U.S. House of Representatives panel said, urging them to reconsider. "That is unacceptable," Representative Peter DeFazio told the company's chief executives in letters dated Monday. DeFazio said the House Transportation and Infrastructure Committee held numerous conversations with the companies' staff over the last few weeks, and "strongly urged" the companies to take part in the hearing.

  • Bloomberg

    Uber Dismisses 350 Employees In a ‘Last Wave’ of Job Cuts

    (Bloomberg) -- In his latest bid to reduce losses at Uber Technologies Inc., Dara Khosrowshahi fired about 350 employees, in what he said is the “last wave” of workforce reductions.The cuts hit a handful of divisions, including self-driving car development and food delivery. Uber dismissed more than 800 employees over two rounds of cuts in July and September.Since a disappointing initial public offering in May, Uber’s stock price is down about 30%. Investors have expressed concerns about increased losses and slowing growth. The ride-hailing company lost more than $5 billion in the second quarter. News of the additional job cuts helped push Uber’s stock up 4% on Monday.In an email to staff from Chief Executive Officer Khosrowshahi reviewed by Bloomberg, he said executives may elaborate on the job cuts in a companywide meeting on Tuesday. TechCrunch reported the news earlier Monday, and an Uber spokesman confirmed the cuts. About 70% of the dismissals occurred in North America.To contact the reporter on this story: Lizette Chapman in San Francisco at lchapman19@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • What Uber Did
    City Lab NonHosted

    What Uber Did

    In his new book on the “Battle for Uber,” Mike Isaac chronicles the ruthless rise of the ride-hailing company and its founding CEO, Travis Kalanick.

  • Benzinga

    Uber Expands Its Reach Into Grocery Delivery And Latin America

    "We're excited to partner with the team at Cornershop to scale their vision, and look forward to working with them to bring grocery delivery to millions of consumers on the Uber platform," states Uber CEO Dara Khosrowshahi. "In 2015 we started Cornershop with primarily the Latin American market in mind and we couldn't be more excited to work with Uber to help us take that mission much further," added Cornershop CEO Oskar Hjertonsson.

  • MarketWatch

    Uber to lay off roughly 350 employees: report

    Uber Technologies Inc. is reportedly cutting 350 jobs, according to CNBC, which cites an internal email sent by Chief Executive Dara Khosrowshahi to the ride-hailing company's staff. The layoffs span numerous units within the company, including the Uber Eats food delivery service as well as the company's advanced technologies group, the CNBC report said. This round of layoffs follows earlier batches of cuts that impacted Uber's marketing and engineering teams. The company didn't immediately respond to a MarketWatch request for comment. Uber's stock has come under pressure since the company went public in May amid increasing scrutiny of tech companies with steep losses. Uber shares are up 4.4% in Monday trading, though they're off 29% over the past three months. The S&P 500 has slipped 1.5% in that time.

  • TheStreet.com

    Uber to Lay Off 350 Employees in Self-Driving, Eats and Other Divisions

    Uber says it will lay off 350 employees in its self-driving and eats divisions. About four weeks ago Uber announced it was cutting 435 employees across its engineering and product teams.

  • Wendy's is going through its biggest reinvention in 50 years
    Yahoo Finance

    Wendy's is going through its biggest reinvention in 50 years

    Big changes are coming to Wendy's in 2020. Yahoo Finance speaks with Wendy's CEO Todd Penegor about what's on tap.

  • Phoenix City Council considers charging Uber, Lyft more for airport trips
    American City Business Journals

    Phoenix City Council considers charging Uber, Lyft more for airport trips

    Uber and Lyft say these fees would make Phoenix one of the most expensive cities for them to operate in. Meanwhile, the airport says it is done subsidizing the commercial ground transportation industry.

  • Bloomberg

    A Strong U.S. Consumer Won't Prevent a Recession

    (Bloomberg Opinion) -- With the unemployment rate at a 50-year low, the hope is that the U.S. consumer will more than offset an otherwise faltering economy. Don’t bet on it.Clearly, the broad economy is not only weak, but weakening. The yield curve has inverted, with 10-year Treasury note yields falling below two-year yields. Every time that’s happened in the post-war era, a recession has followed if it hadn’t already commenced. No exceptions. The Federal Reserve Bank of St. Louis reports that the lower real interest rates are at the time of inversion, the longer the recession and the higher the unemployment rate climbs. The real 10-year yield is minus 0.13%, even lower than the 2.2% that preceded the 2007-2009 Great Recession.The manufacturing purchasing managers’ index fell further below the critical 50 level in September to 47.8, indicating contraction. Manufacturing employment constitutes just 8.5% of gross domestic product, but add in transportation, warehousing and retailing, the total rises to 30%. Manufacturing jobs in September fell by 2,000, compared with an average monthly gain of 10,000 the past year. The PMI index for services fell to its lowest reading in three years last month.Indexes compiled by the Federal Reserve Banks of New York and Cleveland that show the probability of a recession are already at levels consistent with a downturn, and the Business Roundtable CEO Economic Outlook survey plunged from 118.6 in the first quarter of 2018 to 79.2 in the third quarter. Industrial production has dropped in the last two reported months. Capital spending is falling due to trade war uncertainties and excess capacity.A year ago, Wall Street analysts expected S&P 500 Index operating profits to rise 10% this year. But now they look for just a 1.9% gain, and foresee profits falling 4.1% in the third quarter from a year ago, according to FactSet data. Junk bonds are being dumped, pushing the yield spread on company debt rated CCC to 10.7 percentage points from 6.7 percentage points early last year, foretelling earnings weakness. Investors are shunning Uber Technologies Inc., WeWork and other so-called unicorns that have no earnings horns.Real consumer spending is 70% of GDP and it declined in seven of 13 post-war recessions, though it rose in the other six. Still, even a slowing of growth in household outlays, combined with weakness in capital spending, housing and foreign trade, will push the economy into decline. Job growth is slowing with an average of 154,000 new monthly payroll jobs in the last six months, compared with 204,000 in the previous half-year period. Average hourly earnings growth slowed from 3.2% in the year ending in August to 2.9% in September.Consumer confidence and expectations can have significant effects on future spending, and both the University of Michigan and Conference Board surveys have fallen in recent months. A year ago, I was a lonely voice calling for a recession to start in 2019.  Now, others are joining, and instilling caution in consumers that can be self-fulfilling.A New York Fed survey shows a precipitous drop in consumer expectations of inflation, and the central bank rightly fears that households will hold off buying in anticipation of lower prices. The University of Michigan survey finds continuing declines in households’ evaluation of buying conditions for vehicles and houses. The survey also found that, as of July, 59% of respondents expect interest rates to fall over the next 12 months, up from 22% in October 2018. Low and anticipated lower rates encourage people to delay spending and increase savings to meet retirement and other goals.Ongoing polarization of income and assets also means more money for the wealthy, who account for almost all household saving, and less for low-income spenders. The overall household savings rate has climbed from 1.9% in 2005 to more than 8% in August, according to the Bureau of Economic Analysis, and will no doubt continue to rise. Some 28% of Americans have no financial reserves and only 18% can cover six months or more of expenses, according to Bankrate’s Financial Security poll.Increases in auto, credit card and student loans are pressuring consumers to restrain spending. Total household debt leaped from 65% of after-tax income in the early 1980s to 133% in 2007. Mortgage repayments and write-offs have reduced it, but only to 99%. It will probably return to its long-run norm, especially as the baby boomer generation is forced to save if it doesn’t want to keep working long after retirement age.Look for weakness in employment and consumer spending in the coming months. That will seal the case for a recession.To contact the author of this story: Gary Shilling at agshilling@bloomberg.netTo contact the editor responsible for this story: Robert Burgess at bburgess@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.A. Gary Shilling is president of A. Gary Shilling & Co., a New Jersey consultancy, a Registered Investment Advisor and author of “The Age of Deleveraging: Investment Strategies for a Decade of Slow Growth and Deflation.” Some portfolios he manages invest in currencies and commodities. For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • WeWork Said to Weigh Bailout That Hands Control to SoftBank
    Bloomberg

    WeWork Said to Weigh Bailout That Hands Control to SoftBank

    (Bloomberg) -- WeWork is considering a bailout that will hand control of the co-working giant to SoftBank Group Corp., according to a person familiar with the matter, one of two main options to rescue the once high-flying startup.The Japanese investment powerhouse controlled by billionaire Masayoshi Son is convinced it can turn around the cash-strapped American company with the right financial controls in place, the person said, asking not to be identified talking about internal deliberations. WeWork’s board and backers however are also weighing another option: JPMorgan Chase & Co. is leading discussions about a $5 billion debt package, Bloomberg has reported.Either rescue package, or some combination of them, would ease a cash crunch that could leave the office-sharing company short of funds as soon as next month. We Co., the parent of WeWork, had been headed toward one of the year’s most hotly anticipated IPOs before prospective investors balked at certain financial metrics and flawed governance, turning the American giant into a cautionary tale of private market exuberance and costing the company’s top executive his job.The fast-growing, money-losing startup had been counting on a stock listing -- and a $6 billion loan contingent on a successful IPO -- to meet its cash needs.Son, SoftBank Risk Too Much With WeWork Takeover: Tim CulpanRead more: WeWork Is in Talks for $5 Billion Debt Package With LendersThe Wall Street Journal first reported that SoftBank may be discussing a deal to gain control of WeWork. Representatives for the Japanese company weren’t immediately available for comment Monday, a national holiday.SoftBank is already WeWork’s biggest shareholder but the proposed deal would shore up its control of the startup, the person said, declining to elaborate on when a decision on the competing offers might be reached. The Japanese company is in advanced talks to acquire more shares at a significantly lower valuation than the $47 billion WeWork sported in January, two people familiar with those discussions said last week. The New York Times has reported that members of the board would meet Monday to decide on which bailout to select.If the board opts for the SoftBank deal, the Japanese company will be taking on a troubled enterprise at a time it’s struggling to convince the market about its longer-term investment vision. It’s also busy wooing potential investors for a successor to its record-breaking Vision Fund.Read more: SoftBank’s Son Is ‘Embarrassed’ By Record, Impatient to ImproveSon is going through a rocky stretch after repositioning his company from a telecommunications operator into an investment conglomerate, with stakes in scores of startups around the world. He built a personal fortune of about $14 billion with spectacularly successful bets on companies such as Alibaba Group Holding Ltd. But SoftBank’s shares are down about 30% from their peak this year as investors, unnerved by WeWork and Uber Technologies Inc.‘s disappointing debut, grow skittish about startup valuations. In an interview with the Nikkei Business magazine, Son said he is unhappy with how far short his accomplishments to date have fallen of his goals.WeWork and Uber may be losing money now, but they will be substantially profitable in 10 years’ time, Son said in that interview. But at a private retreat for portfolio companies late last month, he had a different message: get profitable soon. At the gathering, held at the five-star Langham resort in Pasadena, California, Son also stressed the importance of good governance. Just days later, SoftBank led the ouster of WeWork’s controversial co-founder Adam Neumann.“WeWork has retained a major Wall Street financial institution to arrange a financing,” a representative for the U.S. company said in a statement on Sunday. “Approximately 60 financing sources have signed confidentiality agreements and are meeting with the company’s management and its bankers over the course of this past week and this coming week.”(Updates with details of SoftBank investments from the sixth paragraph)To contact the reporters on this story: Gillian Tan in New York at gtan129@bloomberg.net;Michelle F. Davis in New York at mdavis194@bloomberg.net;Davide Scigliuzzo in New York at dscigliuzzo2@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, ;Tom Giles at tgiles5@bloomberg.net, Edwin Chan, Virginia Van NattaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Uber and Banco Inter in talks to forge partnership in Brazil: source
    Reuters

    Uber and Banco Inter in talks to forge partnership in Brazil: source

    Brazilian lender Banco Inter SA and Uber Technologies Inc are in talks to forge a partnership in financial services, a source familiar with the matter said, in a move that shows how Japan's SoftBank Group Corp is working to integrate its business in Latin America. SoftBank, which is a shareholder in Uber, acquired a roughly 15% stake in Banco Inter this year. The partnership could target both Uber's drivers and Banco Inter's more than 3 million clients.

  • ACCESSWIRE

    FILING DEADLINE--Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of COF, DBX and UBER

    CEDARHURST, NY / ACCESSWIRE / October 13, 2019 / The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses. If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court.

  • Reuters

    UPDATE 1-Lyft follows Uber in suing NYC over cruising time caps

    Lyft Inc, following its rival Uber's move, has sued New York City seeking to nullify a new rule limiting the time its drivers are allowed to spend cruising in Manhattan without passengers, the company said on Saturday. "This rule is not a serious attempt to address congestion, and would hurt riders and drivers in New York," Lyft spokesman Campbell Matthews said in a statement to Reuters. The "cruising cap" rule, implemented by the city's Taxi and Limousine Commission (TLC), sets a 31% limit on how much time drivers of app-based vehicles may drive without passengers in Manhattan south of 96th Street, meaning they would have to have fares at least 69% of driving time.

  • Lyft follows Uber in suing NYC over cruising time caps
    Reuters

    Lyft follows Uber in suing NYC over cruising time caps

    The lawsuit, filed by the San Francisco-based ride-hail company on Friday, argues that the cruising rule is arbitrary and threatens to shift business away from ride-hailing companies like Lyft in favor of taxis. "This rule is not a serious attempt to address congestion, and would hurt riders and drivers in New York," Lyft spokesman Campbell Matthews said in a statement to Reuters. The "cruising cap" rule, implemented by the city's Taxi and Limousine Commission (TLC), sets a 31% limit on how much time drivers of app-based vehicles may drive without passengers in Manhattan south of 96th Street, meaning they would have to have fares at least 69% of driving time.

  • 'One app to rule them all is dead': How Uber and Lyft can get disrupted
    Yahoo Finance

    'One app to rule them all is dead': How Uber and Lyft can get disrupted

    In Berlin, companies like Uber don't have a dominant hold on transportation. Instead, many companies compete for a slice of the market.

  • Uber lays off about 350 employees: RPT
    Yahoo Finance Video

    Uber lays off about 350 employees: RPT

    Uber has laid off roughly 350 workers, according to a new report from Tech Crunch. The layoffs reportedly impact employees in Uber Eats, its advanced technologies group, and recruiting. This comes as the ride-hailing company continues to pressure New York City over a new rule that would limit the amount of time drivers spend on the road without riders. Yahoo Finance's Zack Guzman and Brian Cheung discuss the latest Uber news and more with Flat World Partners CEO, Anna-Marie Wascher.

  • Uber’s Lee on Diversity in Silicon Valley, Uber’s Goals, Accountability
    Bloomberg

    Uber’s Lee on Diversity in Silicon Valley, Uber’s Goals, Accountability

    Oct.15 -- Bo Young Lee, chief diversity and inclusion officer at Uber, discusses how Silicon Valley has embraced diversity, what she’s doing to promote diversity at Uber, accountability and the buy-in from workers. She speaks exclusively on “Bloomberg Markets: Asia” from the sidelines of the Bloomberg Equality Summit in Mumbai. (Corrects to include full headline.)