UBER - Uber Technologies, Inc.
| Previous Close | 44.31 |
| Open | 44.75 |
| Bid | 43.14 x 800 |
| Ask | 43.20 x 900 |
| Day's Range | 43.11 - 44.80 |
| 52 Week Range | 36.08 - 45.75 |
| Volume | 7,902,223 |
| Avg. Volume | 27,817,940 |
| Market Cap | 73.299B |
| Beta (3Y Monthly) | N/A |
| PE Ratio (TTM) | 2,401.67 |
| EPS (TTM) | 0.02 |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 54.44 |
- Yahoo Finance•15 hours ago
FOMC meeting, Slack IPO — What to know in the week ahead
All eyes this week will turn to the Federal Open Market Committee (FOMC) and Slack.
- Yahoo Finance•16 hours ago
Amazon, Google, and Uber are fundamentally misunderstood, says ServiceNow CEO John Donahoe
Amazon delivers paper towels, Google provides search results, and Uber, but these forward-facing services sew a complete misunderstanding of the companies, according to a Silicon Valley CEO.
- Financial Times•yesterday
Loss-making tech companies are floating like it’s 1999
As its co-chief investment officer, he worries that 2019 feels a bit like 1999: “In the late 1990s, taxi drivers in New York would tell me which call options they were buying on which tech stocks — it was euphoric back then. In fact, some argue that the only real difference is that the taxi drivers are now the investment, rather than the investors. Last month’s initial public offering of shares in Uber, the ride-hailing app, saw a tech company that is set to lose $5.4bn this year seek a stock market valuation of around $80bn.
- Motley Fool•2 days ago
Uber 1, Amazon.com 0
Amazon Restaurants' decision to bow out of its niche opens the door for Uber Eats, Grubhub, and others to cash in on the opportunity.
- Investopedia•2 days ago
Facebook Gathers Companies to Back Libra coin Launch
Facebook's Libra coin will serve users on the social media platform as well as across the internet.
- Barrons.com•3 days ago
The New Wave of Tech IPOs Brings Memories of 1999
Internet growth is slowing, forcing investors to scramble for new growth areas. Enter Chewy, Fiverr, and CrowdStrike.
- American City Business Journals•3 days ago
Uber inks large lease in downtown Sunnyvale for South Bay debut
Uber has reportedly signed a large lease for two buildings in downtown Sunnyvale, marking the ride-hailing giant's first major entrance into the South Bay.
- InvestorPlace•3 days ago
5 Top Stock Trades for Monday: MU, CHWY, GOLD
U.S. stocks retreated on Friday, but certainly haven't cratered over the last few sessions. It looks like the stock market is simply digesting its big gains from last week. Will this weekend or next week carry increased risk? We'll see. Until then, let's look at a few top stock trades. Top Stock Trades for Tomorrow 1: Micron Click to EnlargeMicron (NASDAQ:MU) is under pressure like most memory and chipmakers on Friday. However, that follows very discouraging action from this week, after MU stock topped out near $36. Already it's down almost 10% from those levels.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf it loses Friday's lows, it could be a slippery slope for Micron. In that case, a drop down to $30 could be in the cards. * Chewy IPO: 14 Things for Investors to Know If semis and tech catch a bid next week, see that Micron can hurdle $34 and its 20-day moving average. Otherwise, this one looks risky on the long side, particularly with a percolating trade war. Top Stock Trades for Tomorrow 2: Barrick Gold Click to EnlargeGold has been doing well as investors worry about the global economy. As such, miners like Barrick Gold (NYSE:GOLD) have been doing well too.The recent rally has taken GOLD right into range resistance. Of course, it's possible that the stock is able to breakout. But I'd rather play the move after the fact than bet on it happening beforehand.If range resistance is in fact resistance, look for GOLD to pullback into its 20-day to 50-day moving average range, between $12.82 and $13.07. A breakout over $14 could trigger a larger move higher. Top Stock Trades for Tomorrow 3: Chewy Click to EnlargeChewy (NYSE:CHWY) made its public debut on Friday, erupting from its $22 IPO price and opening at $36. Here are 14 things to know about the company.Shares are not exactly reminiscent of Lyft (NASDAQ:LYFT), as they back off the opening level highs, but they do share some resemblance. Investors are now trying to figure out if this IPO is going to be an Uber (NYSE:UBER)/Lyft debacle, or a Zoom Video (NASDAQ:ZM)/Beyond Meat (NASDAQ:BYND) situation. Truth is, no one knows.Risk-taking speculators can take a flyer on CHWY, banking that higher prices are here to come. At the end of the day though, trading day-one IPOs is really just speculation. No one really knows which way it will go.Just know its range. Over the IPO open price of $36 and CHWY can run to its day-one highs near $41 and possibly higher. Below its day-one low and shares can move lower, although I'd be surprised to see it down to $22 anytime soon. Trading this close to the IPO date isn't for me. Top Stock Trades for Tomorrow 4: Semiconductor ETF Click to EnlargeThe VanEck Semiconductor ETF (NYSEARCA:SMH) is under pressure Friday, falling about 2.5% thanks to the earnings results from Broadcom (NASDAQ:AVGO). The latter beat earnings estimates, but provided a tepid outlook as the trade war continues to weigh on its business.While AVGO was the catalyst Friday, a whole host of stocks will drive the SMH going forward. Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), Micron and others will all have an effect.As for the ETF, the 50-day promptly rejected the SMH, while the 20-day could do little to buoy the name. That leaves the 200-day -- which didn't help much last month -- and last month's lows near $97.50 as the must-hold spot.Below those lows opens the SMH to a drop to the sub-$93 area. On a rebound, we need to see the SMH's series of lower highs (purple arrows) cease and for the SMH to clear its 50-day moving average.Bottom line: Watch the 200-day and last month's lows if the decline continues. Watch the 50-day and $109 if the SMH rebounds. Top Stock Trades for Tomorrow 5: Preferred Shares ETF Click to EnlargeThe iShares Preferred Stock ETF (NYSEARCA:PFF) has been on fire. But could the run be coming to an end?Once the PFF reclaimed its 10-week moving average, it has been on absolute fire. That was in the last week of December, by the way. In any regard, multi-year channel resistance is up near $37, while the MACD and RSI (blue circles) are suggesting momentum could be topping out as the ETF flirts with an overbought condition. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 That's not to say the PFF can't go to $37, $38 or even higher. Just that over the past few years, this resistance mark has generally kept a lid on the stock. Investors will likely keep buying on pullbacks into the 10-week moving average until it fails. If and when it does, a drop down toward channel support and the 50-week moving average could be in the cards.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AVGO and NVDA. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 * 7 Value Stocks That Are Flying Under the Radar * 6 Mouth-Watering Fast Food Stocks for Growth Investors Compare Brokers The post 5 Top Stock Trades for Monday: MU, CHWY, GOLD appeared first on InvestorPlace.
- Barrons.com•3 days ago
Slack Is Going Public as It Tries to Kill Email. The Stock Won’t Be Cheap.
Slack is hoping to replace email and, so far, it’s succeeding. But private-market investors have already bid up the stock, which limits upside for new investors.
- InvestorPlace•3 days ago
Take a Ride on This Lyft Stock Rally
After a long, quiet period, this year's IPO market is abuzz. Two in particular -- Lyft (NASDAQ:LYFT) and Uber (NYSE:UBER) -- captured most of the headlines on Wall Street. That is, until Beyond Meat (NASDAQ:BYND) recently stole the show.Source: Shutterstock While the BYND and Zoom Video (NASDAQ:ZM) IPO processes produced successes, we learned that not all IPOs are created equal. Lyft stumbled right out of the gate. There was enough criticism to go around as to who did what and when to ruin the LYFT launch. What made matters worse for it, is that Uber came to market soon thereafter. It undoubtedly stole bids away from Lyft stock so it stood no chance of finding footing for weeks.Early in May I wrote an article about not giving up on Lyft and to stay long it. The idea paid, as the stock is up 16% since then. Today's note is to point out that even from here, there still is a bullish technical set up which could be the next opportunity for the Lyft bulls.InvestorPlace - Stock Market News, Stock Advice & Trading Tips LYFT Stock By the NumbersI am a fundamental investor, so I have to look at the boring stuff like valuation and the bullish versus the bearish thesis. So first let's look at the fundamentals, which aren't that great on paper. Lyft still loses a ton of money and they claim that they're going to grow to the moon. The path to profitability is very murky. Many experts even contend that they will never be profitable.I agree that the stock is definitely not cheap, since it sells at 7 times sales. But it's hard to gauge a growth stock like this so early in the process -- especially one that's in a brand-new disrupting industry. So there are no experts in the field. Amazon (NASDAQ:AMZN) and Netflix (NASDAQ:NFLX) encountered the same bearish arguments as they blazed their new industry trails. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 So for those who like LYFT stock, buy it for the long term and ignore this short-term action and the bearish talking heads.But I almost never make a trade without looking at the technicals too. So I ignore the fundamentals for this purpose of today's write-up because the opportunity is technical and it is in the charts. So I consider this a stand-alone tactical trade not an investment.The recent price action shows higher lows knocking against a roof. This tells me that the buyers have momentum for almost a month. If they are able to break through the roof, they can overshoot up and test $70 per share. There will be resistance along the way at $65 and $67 per share, so it won't be easy.For those who like to study charts, the pattern looks like an inverse-head-and-shoulder where the neckline is around $63.30 per share. Ideally I wait for the breach of the neckline before I chase the stock up. So it's a case of buy high and sell higher. How to Trade ItSome traders like to anticipate the move and start early, so they buy right away and hope for the rally to unfold. For that, I would definitely use tight stops, and where to place them depends on personal risk tolerance. I see significant levels at $58.70, $56.25 and $54 per share.The good news is that when a stock price range narrows from a wide band into a virtual point, it gathers energy. This almost always resolves itself in a big move where the direction is undetermined. In this case and since the bulls are making higher lows for weeks, unless there's specific bad news the expectation is that they will be able to breach it to rally even further. Click to Enlarge It is important to note that there is risk from outside factors to consider. We are still in the throes of an economic war between the United States and China, so we are apt to getting surprise geopolitical tape bombs. We cannot plan for these so it is best to set in adhere to the stop-loss levels below.Even as I share this upside opportunity here for Lyft, I have to note that I prefer holding Uber stock for the very long term. It's just too big a company to ignore and it reminds me of Facebook (NASDAQ:FB) and its infancy.Regardless, today's write-up is to share the potential of buying Lyft stock for a tactical trade that could deliver a $10 rally.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room free here. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 * 7 Value Stocks That Are Flying Under the Radar * 6 Mouth-Watering Fast Food Stocks for Growth Investors Compare Brokers The post Take a Ride on This Lyft Stock Rally appeared first on InvestorPlace.
- American City Business Journals•3 days ago
PHOTOS: A closer look inside Uber's newest self-driving vehicle
Although it still has a steering wheel and pedals, Uber’s newest vehicle was specifically engineered and designed for a computer to drive. After about three years of development with Volvo, Uber Technologies Inc. (NYSE:UBER) revealed its newest autonomous vehicle this week, moving away from the concept of retrofitting standard vehicles with self-driving technology. When the updated vehicle is in autonomous mode its manual controls are disabled.
- Market Realist•3 days ago
Uber Doesn’t Want Workers to Watch Its Stock Price Each Day
On June 14 at 10:30 AM EDT, Uber Technologies (UBER) was down 0.8% on the day after rising 5.1% on June 13. As of yesterday’s close, the stock had risen 9.7% so far in June, outperforming the broader market and its direct peer Lyft (LYFT).
- American City Business Journals•3 days ago
Are Lime e-scooters on their way to Pittsburgh?
First, Pennsylvania would need to pass a house bill to legalize the e-scooters by reclassifying them under the same laws that govern bicycle use.
- InvestorPlace•3 days ago
FB Cryptocurrency: 12 Things We Know About Facebook’s Project Libra
A FB cryptocurrency is on the way and it looks to have quite the wave of support from big backers.Source: Shutterstock Here's what we know so far about the Facebook (NASDAQ:FB) cryptocurrency. * The project to develop a FB cryptocurrency is called Libra. * It has been the works for six months now. * Stripe, Booking.com and MercadoLibre are taking part in the project, but it is unknown what exactly they are doing for it. * Several large companies will reportedly be backing the development of the cryptocurrency. * Some of the big names behind the effort are PayPal (NASDAQ:PYPL), Mastercard (NYSE:MA), Visa (NYSE:V) and Uber (NYSE:UBER). * Each of these companies will be putting $10 million into the development of the FB cryptocurrency. * This will have them acting as a governing consortium for the virtual currency. * It's also worth mentioning that the FB cryptocurrency is going by the name GlobalCoin. * Report claim that the cyrptocurrency will be used by Facebook through its multiple messaging service. * There's also been talk that it will allow users of the social media service to use the virtual currency to purchase goods from retailers via the website. * Other reports are claiming that Facebook is preparing to reveal the new virtual currency sometime next week. * These same rumors also say that the tech company is preparing to release the FB cryptocurrency in early 2020. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 You can follow these links to learn more about Facebook's plans for its cryptocurrency.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFB stock was up 1% as of Friday morning. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 * 7 Value Stocks That Are Flying Under the Radar * 6 Mouth-Watering Fast Food Stocks for Growth Investors As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post FB Cryptocurrency: 12 Things We Know About Facebook's Project Libra appeared first on InvestorPlace.
- Quartz•3 days ago
How much it would cost Uber and Lyft if drivers were employees
A bill passed by the California Assembly seems likely to classify Uber and Lyft drivers as employees, and it could cost the companies big.
- Yahoo Finance•3 days ago
Uber Air is 'a regulatory nightmare,' Wedbush analyst Dan Ives says
"That’s a regulatory nightmare,” Ives said. “That’s one that sounds good on paper, but...regulators are salivating when they hear that.”
- InvestorPlace•3 days ago
Tariff, Consumer Challenges Are Priced Into GM Stock
Uncertainty continues to plague General Motors (NYSE:GM). Tariff threats and changing consumer trends have led to falling profit forecasts. Consequently, GM stock remains at a low valuation.Source: Shutterstock However, while this low multiple may indicate ongoing profit struggles, it also gives traders few reasons to sell. Several Headwinds Weigh on GM StockDespite averting Mexican tariffs, the outlook appears bleak for General Motors stock. The trade war with the all-important China market lingers. China is General Motor's largest market. In 2018, the company sold about 3.645 million cars in China. That's considerably more than the 2.954 million units sold in the United States.InvestorPlace - Stock Market News, Stock Advice & Trading TipsUnless GM gains an exemption, analysts can expect that number to fall as long as the trade war persists. Even worse, a prolonged trade war would leave the automaker at a competitive disadvantage as it would have to work harder to regain lost market share, thereby hurting General Motors stock. * 7 High-Quality Cheap Stocks to Buy With $10 GM also could face a permanent reduction in demand for cars. With more Americans depending on services like Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) for their transportation, fewer people seek car ownership. That may explain why analysts forecast a 6.9% reduction in earnings for next year. Early indications point to another decline in profits in 2021.They also face tech-related threats. Though GM does produce an electric vehicle (EV), it has fallen behind Tesla (NASDAQ:TSLA) and others automakers in this segment. Moreover, non-car companies such as Alphabet's (NASDAQ:GOOGL, NASDAQ:GOOG) Waymo and the Intel (NASDAQ:INTC) subsidiary Mobileye continue to garner more attention in the self-driving car market. GM acquired Cruise Automation in 2016 to respond to this threat.Unfortunately for proponents of GM stock, Cruise's prototypes have faced safety and technical issues. The Multiple on General Motors Stock Reflects the UncertaintyStill, despite numerous problems, it appears that the valuation of GE stock reflects these issues. Shares trade at a price-to-earnings ratio of just under 5.7. Barring profits going off a cliff, I do not see this multiple falling much further.Also, robust earnings from truck sales will help reduce the decline in profits. General Motors just announced that they will invest $150 million in its Flint, Michigan plant. This will facilitate the production of its next-generation heavy-duty pickup truck. It will also boost pickup truck production by 40,000 vehicles annually and add 1,000 jobs.I would not expect this to materially affect the GM stock price as it has seen little net change over the years. Nine years ago, the automaker reintroduced its equity at an initial public offering price of $33 per share. Today, it trades at close to $36 per share as of the time of this writing. With falling profits and a low PE ratio, it would probably take an end to the trade war to boost shares from these levels.GM had traded above $45 per share before the trade war began. Perhaps some will buy in hopes that the trade war will end soon. But no matter what, income-oriented investor who bought at a lower price should stay the course. For this group, I still think General Motors stock offers a compelling value proposition. The annual payout of $1.52 per share has remained steady since 2016.These payments also amount to a dividend yield of about 4.2%. This comes in at more than double the S&P 500 average of around 2%. That said, it's also lower than the 6% yield on Ford (NYSE:F). However, Ford cut this payment from last year's levels. The stability of GM's payout should give it an edge over Ford among some investors. The Bottom Line on General MotorsDespite the problems plaguing GM, investors have few reasons to sell. Yes, tariffs, changing customer preferences, and technology could cause issues for General Motors stock. However, these conditions have taken GE's PE ratio below 6 and its dividend yield well above 4%.Even with few prospects for share price growth, the company is uniquely positioned to give income investors a higher-than-average return. Moreover, an end to the trade war could also boost the GM stock price.Unless the U.S. and China sign a trade agreement, investors should not expect any significant multiple expansion for the foreseeable future. Still, for investors who care primarily about dividends, GM stock remains well-positioned to deliver a consistent, generous payout.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post Tariff, Consumer Challenges Are Priced Into GM Stock appeared first on InvestorPlace.
- InvestorPlace•3 days ago
For Investors Who Missed Their Chance, Here’s Where to Buy Twilio Stock
Twilio (NYSE:TWLO) stock is one of those names that draws a big "ugh!" from me when I look back over the long-term charts. Simply put, I had TWLO stock on the radar and let it fade away. Shares went from $30 to $90 in just a few months last year and that train has kept on moving.Some investors were wise enough to load up in the $20s, $30s and $40s after the post-IPO surge cooled down. I say wise because $90 was only a temporary top, with TWLO stock now another 50 points north of that.It brings up the all-too easy (and too familiar) question of, have investors missed their chance in Twilio stock?InvestorPlace - Stock Market News, Stock Advice & Trading Tips Evaluating Twilio StockThe short answer is no. But the higher we bid the stock, the more risk we take as future returns are diminished. No one wants more risk and less reward, right? That line of thinking is traditional and makes sense in most circumstances.For me, I don't mind paying up a premium for a stock that's proven itself. I'd rather pay a premium for TWLO stock at $50 as it was surging higher and had momentum in its business, than buy at $30 two years ago when it had uncertainty surrounding it. * 7 Stocks to Buy for the Coming Recession Twilio stock running from $50 to $100, then $100 to $150 is big, but realistic. However, buying today -- at $140 a share -- we can't expect TWLO to run to $280, then $420 so fast. So what now? Valuing TWLO StockThere's no other way to put it: Twilio stock is not cheap. But there are plenty of stocks that weren't cheap that went on to have stellar moves and make long-time investors wealthy. Three that come to mind are Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Salesforce (NYSE:CRM).I'm not saying TWLO is necessarily the next one of those (these stocks might be), but with an almost-$19 billion market cap, there's still room for upside. For a company that's forecast to do $1.1 billion in sales this year, many investors will gag at the 16.3 times current revenue figure.Like I said, this name isn't cheap!But TWLO stock is turning profitable and while cash flows are not yet where I'd like to see them, the long-term trajectory is big for this company. Twilio's description reads, "Twilio Inc. provides a cloud communications platform that enables developers to build, scale, and operate communications within software applications."In other words, this cloud-based platform is a key cog in many companies' customer communications strategy. That includes Uber (NYSE:UBER), Lyft (NASDAQ:LYFT), Airbnb and Salesforce. Have you seen the growth rate for these companies and then considered what that means for TWLO?It's not just them, either. Coca-Cola Enterprises, Twitter (NYSE:TWTR), Nordstrom (NYSE:JWN), VMWare (NYSE:VMW), the American Red Cross, Yelp (NYSE:YELP), Twitch, Lululemon Athletica (NASDAQ:LULU) and more are all TWLO customers.Analysts predict 70% revenue growth this year, but "just" 34% growth to $1.48 billion next year. That's still solid growth, but the declining rate of growth could be something that stalls the stock at this valuation. Let's look at the charts to get a better idea of what's going on. Trading TWLO Click to EnlargeWhile the slowing revenue growth rate in 2020 is a concern of mine, keep in mind Twilio's still in fiscal Q2 of 2019. More immediately though, Twilio stock just offered 7 million shares at $124 in a secondary offering. So far, the stock has done an incredible job of absorbing this excess supply, along with the shaking off the market selloff in May. * 7 Dark Horse Stocks Winning the Race in 2019 That said, there have been some cracks showing. Through Q1, the 20-day moving average was support. In Q2 that support faded and the 50-day moving average had to buoy TWLO stock. And while almost everything was under pressure by the end of May, this mark had technically given way for Twilio.All this is to say that I don't know how much we can count on the moving averages should we get a pullback. Twilio stock has been riding a multi-month channel filled with higher highs and higher lows. We should consider channel support to be support until proven otherwise.If it fails though, we could get the correction that sidelined bulls have been hoping for. We nailed the breakout over $100 in January and in March said Twilio stock is a buy on essentially any type of pullback. While those have paid off, we need to use more discipline now.Recently, dips below $125 have been gobbled up, while aggressive bulls will be buying on tests of the 50-day and channel support. Below that we have the 38.2% retracement at $112.27 and the 50% retracement near $101. In between is the 200-day moving average. I would love a dip to this area to consider a long position in Twilio stock.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Kenwell is long AMZN. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post For Investors Who Missed Their Chance, Hereas Where to Buy Twilio Stock appeared first on InvestorPlace.
- Barrons.com•3 days ago
An Amazon Exit Gives Grubhub Stock the Boost It Needs
Grubhub’s stock, well off 2018 highs, popped on the news that Amazon was exiting the food-delivery business. Can it continue to rise?
- Engadget•3 days ago
WSJ: Facebook's cryptocurrency finds backing from PayPal and Uber
Facebook has secured some pretty big backers for Project Libra, according to The Wall Street Journal. PayPal, Uber, Visa and Mastercard are reportedly investing around $10 million each in the social network's cryptocurrency. Other investors include Stripe and Booking.com.
- American City Business Journals•3 days ago
Uber, Lyft rival to open Bay Area technology center with big plans for hiring
This ride-sharing behemoth is planning to hire a sizable amount of engineers for its new research center.
- Reuters•4 days ago
Facebook's cryptocurrency-based payments system gets big backers - WSJ
Each company will invest around $10 million in a consortium that will govern the cryptocurrency, the WSJ reported, citing people familiar with the matter. The money will fund the creation of the coin, which will be pegged to a basket of government-issued currencies, the report said.
- Yahoo Finance Video•3 days ago
Uber, Visa, PayPal among big investors in Facebook’s blockchain project
Facebook is expected to announce more details of it’s blockchain project, dubbed Libra, next week, and some big names, including Uber, Visa, MasterCard, and PayPal, are betting big on the social network’s move into digital payment. Each company will be investing $10 million into the project. Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Dan Howley break down what this means for digital payments, and Cameron Chell, chair and co-founder of ICOx Innovations, joins Sozzi and Christoforous to discuss Facebook’s stablecoin.
- Investor's Business Daily Video•3 days ago
Uber To Soon Begin Delivering Food With Drones
Starting as early as this summer, Uber will begin delivering food using drones. At first, the drones will initially deliver food to a "safety zone," not people's houses. From there, Uber employees will retrieve the package and deliver it to the customer. Uber is expected to team up with McDonald's for the trial run.
