UBER - Uber Technologies, Inc.
34.46 -0.11 (-0.32%)
After hours: 4:48PM EDT
| Previous Close | 33.22 |
| Open | 35.53 |
| Bid | 34.58 x 1400 |
| Ask | 34.60 x 2200 |
| Day's Range | 34.37 - 35.80 |
| 52 Week Range | 32.92 - 47.08 |
| Volume | 10,726,920 |
| Avg. Volume | 11,907,747 |
| Market Cap | 58.837B |
| Beta (3Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -3.01 |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 51.47 |
- Yahoo Finance Video
Why San Francisco doesn't care about the stock market
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.
- MarketWatch
Uber’s own numbers show why investors shouldn’t believe in its vision
According to Uber, it is still in the early stages of capturing what it estimates to be a $12 trillion (yes, that’s trillion with a “T”) total addressable market that includes personal mobility, food delivery, and freight shipping. If that goal was remotely feasible, and Uber was at less than 1% of its total addressable market, you’d expect the company’s revenue growth to be rapidly accelerating. Instead, Uber’s revenue growth rate declined from 106% in 2017 to 42% in 2018, and it declined even further to just 14% year-over-year in the second quarter.
- Benzinga
Uber Freight Goes After Larger Fleets With Dispatcher Portal
Prior to the launch of the dispatcher tool, carriers had to manage trucks and loads with Uber Freight's mobile app. While that works for fleets with less than five trucks — with the dispatcher often doubling as a driver — dispatchers at larger fleets most commonly work from desktop computers. In the new web portal, dispatchers can view and book loads, assign them to available drivers and manage the loads end to end.
- GlobeNewswire
ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Uber Technologies, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Uber Technologies, Inc. (“Uber” or “the Company”) (NYSE: UBER) for violations of the federal securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
- Bloomberg
Midwestern Money Manager Becomes Big Player in N.Y. Taxi Industry
(Bloomberg) -- Midwestern money manager O’Brien-Staley Partners acquired hundreds of New York City taxi medallion loans, becoming a major player in an industry upended by Uber and Lyft.O’Brien-Staley, founded by two former Cargill Inc. executives, bought performing loans secured by more than 400 medallions from Signature Bank, according to regulatory filings and interviews. That equals roughly 3% of the 13,587 medallions that are either in use or storage, according to the New York City Taxi and Limousine Commission.Lenders such as Signature and Capital One Financial Corp. have suffered losses on medallion loans as taxi ridership and revenue plummeted in the face of competition from ride-hailing services Uber Technologies Inc. and Lyft Inc. That has left many cab drivers swamped by debts they can’t repay.With regulators investigating allegations of predatory lending, medallion prices have fallen as low as $110,000 from roughly $1 million at the start of the decade. Banks that haven’t budged on price may become more willing to sell their loans to private equity and hedge fund firms.“There are other players resurfacing,” said Matthew Daus, an attorney at Windels Marx who formerly served as commissioner of New York’s taxi and limousine bureau. Some banks “may cut their losses once and for all.”Unloved CreditsSusan Turkell, a spokeswoman for New York-based Signature, confirmed in an email that the bank made a bulk sale of performing loans to O’Brien-Staley earlier this year, representing more than 400 medallions. Signature’s second-quarter financial report disclosed the sale of about $46.4 million in loans tied to medallions and $4.6 million in repossessed medallions.E. Gerald O’Brien, chief investment officer at O’Brien-Staley, declined to comment. The former head of global loan portfolios at CarVal Investors, a credit investment unit at Cargill, O’Brien co-founded the firm in 2010 with Warren Staley, a former Cargill chief executive officer.O’Brien-Staley’s website says it specializes in “unloved” credits. The firm had about $1.3 billion of regulatory assets under management at the end of last year. It now ranks as one of the largest lenders against medallions, said Andrew Murstein, president of Medallion Financial Corp., which originates and services taxi loans.“It is another positive sign for the industry that another fund with a successful track record believes that medallions are a good investment,” Murstein said in an email.To contact the reporter on this story: Miles Weiss in Washington at mweiss@bloomberg.netTo contact the editors responsible for this story: Alan Mirabella at amirabella@bloomberg.net, Vincent Bielski, Melissa KarshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Quartz
Lyft’s IPO is outperforming Uber’s in one crucial way
Most pre-IPO Lyft shareholders are still poised to book solid gains. The same isn't true for Uber.
- MarketWatch
Uber customers paid more than $6 billion in cash last year, and accounting for it isn’t easy
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 .
- Bloomberg
Crypto Behemoth Binance Is Planning a Rival to Facebook’s Libra
(Bloomberg) -- One of the largest cryptocurrency exchanges is looking to partner with governments and companies to develop new digital currencies as it competes with the Libra project spearheaded by Facebook Inc.To that end, Malta-based Binance said it plans to create an independent “regional version of Libra,” the digital coin being developed by Facebook Inc. and partners, in a Chinese-language statement on its website Monday. The firm run by Chief Executive Officer Zhao “CZ” Changpeng said its open blockchain project, Venus, is intended to “empower developed and developing countries to spur new currencies.’’Developing so-called stable coins like Tether that are pegged to the U.S. dollar or another traditional currency has become a goal for many crypto platforms. Traders have flocked to these lower-volatility coins as they can be used to facilitate transactions and to park funds during wild swings in prices.Unlike Facebook, which announced its Libra coin with 27 partners from Visa Inc. to Uber Technologies Inc. signed up, Binance did not say if any other players have signed up to Venus. Instead the company said it “welcomes additional government partners, companies and organizations with a strong interest and influence on a global scale to collaborate with us to build a new open alliance and sustainable community.’’Binance already has experience with stable coins, having issued a token pegged to the U.K. pound earlier in the year. The exchange says it handles an average $1.2 billion of trading volume a day.Crypto firms have not only struggled to maintain stability in coin prices, but also with security in holding the digital assets. In May, Binance said hackers withdrew 7,000 Bitcoins worth about $40 million in a “large scale security breach.”\--With assistance from Shiyin Chen.To contact the reporter on this story: Alastair Marsh in London at amarsh25@bloomberg.netTo contact the editors responsible for this story: James Hertling at jhertling@bloomberg.net, Todd White, Sid VermaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- InvestorPlace
Macro-Headwinds Risk Ruining the Recipe for Blue Apron Stock
For meal-delivery service Blue Apron (NYSE:APRN), I'm going to loosen my usual uptight writing style and address this matter frankly: I have a love-hate relationship with APRN stock.For starters, you'd expect the underlying company to do well in this environment. Indeed, I'd argue that in this app-crazy world we're living in, you'd expect Blue Apron stock to skyrocket. In my opinion, the company combines the best of technology and tradition. It gives you the convenience of meal deliveries, while encouraging the family dinner custom.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFurthermore, millennials love eating out. In my last write-up about Blue Apron stock, I questioned management's previous focus on targeting retirees. And it's not just an age thing. As I pointed out, millennials "have different expectations and desires."A prime example is the car culture. In every other generation, getting a car was a rite of passage. With millennials and the younger Generation Z, it's just not as important. Moreover, there's a reason for this trend. Companies like Uber Technologies (NYSE:UBER) and Lyft (NASDAQ:LYFT) are maximizing the potential of the on-demand sharing economy. * 10 Stocks Under $5 to Buy for Fall Logically, this dynamic should greatly benefit APRN stock. Millennials eschew cars but love wining and dining. Plus, they're big on delivery services. These points bolster the "love" part of my relationship with Blue Apron stock.So, what's the "hate" part? Just open up a chart of the Blue Apron stock price and you'll quickly see for yourself. On a year-to-date basis, shares have lost nearly 52% of their market value. And with the panicked situation we have in the markets, this service company just doesn't have the legs to compete.By way of comparison, another millennial food favorite -- Chipotle Mexican Grill (NYSE:CMG) -- has seen its shares skyrocket almost 90% in the same period. The Invesco Dynamic Food & Beverage ETF (NYSEArca:PBJ) has added almost 19% in 2019. CMG is the 10th-largest holding in the exchange-traded fund's 31 stock portfolio. APRN has yet to attract ETF interest. Bad Timing May Hurt Blue Apron StockAlthough APRN stock levers some fundamental advantages regarding consumer demographics and behaviors, their biggest problem is converting those advantages. This mismatch was on fully display for their second-quarter earnings results.On paper, it was a mixed report. Per-share profitability for Blue Apron stock came in at a loss of 59 cents. This was far better than consensus estimates calling for an earnings per share loss of $1.08.However, Q2 was really a devastating blow for the company. That's because revenue delivered badly missed the consensus target by more than 14%, at $119.2 million. Furthermore, the year-ago sales haul was $179.6 million. Unsurprisingly, management reported steep subscriber losses.However, what is surprising is that APRN stock took the bad news quite well. It jumped after the disclosure, although it has since declined. Still, after such poor results, APRN is "only" down about 12% since the Q2 disclosure.Under normal circumstances, that might give contrarians some confidence in Blue Apron stock. Because this is an incredibly volatile name, a 12% loss isn't too bad, relatively speaking.On another angle, the fact that millennials love the on-demand sharing economy suggests that this contrarian play is rational. And I'll be blunt: it would get me excited, too.However, we have one little problem. I just don't like the volatility that we saw in the broader markets. Most of that came about because of U.S.-China trade war tensions, which of course is a major worry. But I'm a bit more concerned about the tension between President Trump and the Federal Reserve. * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond Of course, Trump wants the Fed to do more. But I don't think the Fed can do anything. That signals to me that we're really headed toward a recession. And a recession does zero good for Blue Apron stock. A Very Limited Trading OpportunityBut with everything that I just said, it's not all bad news for APRN stock. As I discussed in my last article, Blue Apron brought in Linda Findley Kozlowski to head the company. Previously, Kozlowski was the COO of Etsy (NASDAQ:ETSY), another millennial and Gen Z fave.We have two takeaways here. First, Kozlowski knows e-commerce. She's also adept at engaging millennials, which is crucial for Blue Apron stock. And to top it off, she's proven capable of taking seemingly irrelevant markets -- Etsy specializes in homemade arts and crafts -- to the forefront.This should be a big advantage to Blue Apron. As far as I know, eating is a necessity. And cutting the time to prepare it is itself worth a premium.Perhaps this is the reason why Blue Apron stock apparently found a bottom in late June of this year. But as I mentioned above, we have macro-headwinds that can quickly sour consumer sentiment. Therefore, if you're going to gamble, do so in a narrowly defined period.For everyone else, it's time to shutter this investment. APRN badly missed both revenue and subscriber targets, which represent the lifeblood of a delivery-service company. And even if they didn't miss, we have a potential fiscal tsunami about to crash down on us.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. 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 Macro-Headwinds Risk Ruining the Recipe for Blue Apron Stock appeared first on InvestorPlace.
- Barrons.com
This Year’s Tech IPOs Are About to Face a Big Test
So-called stock lockup agreements will soon expire for many of this year’s high-profile IPOs, bringing a wave of new shares to the market. What happens when insiders are finally able to sell their stock? We’re about to find out.
- Reuters
Uber appoints new UK boss as London licence renewal nears
Uber appointed a new boss for Britain and Ireland on Monday just over a month before its licence expires in London, one of its most important global markets where the regulator has previously stripped it of its right to operate. Transport for London (TfL) rejected the Silicon Valley company's licence renewal request in 2017 due to failings it said it found in its approach to reporting serious criminal offences and driver background checks, prompting court action. Melinda Roylett, former head of Europe at digital payment company Square, begins her new role at Uber on Monday, replacing Tom Elvidge, who moved to co-working space company WeWork earlier this year.
- Motley Fool
A Historian's Take on the Future of Cars
Historian and author Dan Albert explains the surprising and fascinating history of America’s relationship with the automobile.
- Motley Fool
3 Reasons Lyft Is a Better Buy Than Uber
Uber may be the big, bad wolf of ridesharing; Lyft is the better buy by a mile.
- Barrons.com
South Korea’s Sovereign-Wealth Fund Sold Tesla Stock — and Bought Uber and GM
South Korea’s sovereign-wealth fund made some big changes in its transportation investments and adjusted its holdings in a social-media platform.
- Yahoo Finance
San Francisco doesn't care about the stock market
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.
- MarketWatch
Basic economics means Uber and Lyft can’t rely on driverless cars to become profitable
Aggressive price-cutting won’t disappear with autonomous vehicles, so gross margins will remain wafer-thin.
- Barrons.com
Stanford University Now Owns Stakes in Uber and Pinterest Stock
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.
- Market Realist
WeWork IPO: Is The We Company Comparable to Apple?
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.
- American City Business Journals
Keeping score: S.F.'s new Chase Center by the numbers
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.
- GuruFocus.com
Andreas Halvorsen's Top 5 Buys of the 2nd Quarter
Viking Global’s top buys include 3 IPOs Continue reading...
