|Bid||22.69 x 900|
|Ask||22.73 x 1400|
|Day's Range||22.29 - 23.05|
|52 Week Range||19.53 - 42.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Dec 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||27.29|
The NYSE submitted a proposal just before Thanksgiving that would have let companies raise money when they go public via a direct listing instead of a traditional IPO. The SEC on Friday shut down the idea without opening it up for public comment.
Every viable business creates a win-win situation. Employees get a sustainable income. Customers get value. Shareholders get profits. Uber (NYSE:UBER) doesn't do any of that.Source: TY Lim / Shutterstock.com Employees aren't making sustainable income and they're not treated like employees. Shareholders aren't seeing any profits, even at scale. Customers have been seeing value only because their rides are subsidized by shareholders.Uber went public in May 2019 because it had to. Private equity and venture funding had grown tired of the pretense that it would work. They wanted out. Since then, the stock is down almost 33%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf you bought UBER stock it's because I couldn't convince you not to. I warned you in May, in August and September. You didn't listen.Can you believe me now? Son's Lack of VisionUber is a product of SoftBank Group (OTCMKTS:SFTBY) CEO Masayoshi Son. The idea behind his Vision Fund was to disrupt huge industries, using software and Saudi money, and to have a dominant position in the resulting companies. * 7 Hot Stocks for 2020's Big Trends The fund has some winners. Paytm, the Indian payments company, looks like a winner. Kabbage, another fintech player, may be a winner. Fanatics may do OK.But most are like Uber. Slack (NYSE:WORK) has been a loser on public markets. WeWork, as I said over the summer, doesn't.Son went too big, too fast on a lot of these deals. He put in more money than many of these companies could use. He convinced founders like WeWork's Adam Neumann (and Uber co-founder Travis Kalanick) they could do no wrong. SoftBank's CEO became like Jeffrey Cordova in The Band Wagon, producing pretentious versions of Faust when he could have been making nice little musicals.Son, in short, let founders run when he should have used a short leash, and a quick hook. What Tech Can't DoTechnology can disintermediate industries. When there's a high cost in making something happen, technology can drop that cost to zero. It's in transaction costs that disruptive technology earns its way.But there isn't enough money in taxis to make that work, even when the business scales. Uber lost $1.2 billion during the most recent quarter, on adjusted revenue of $3.8 billion. That's a 30% gain in revenue, but the losses were 18% higher than the previous year, when they came in at $986 million.In order to achieve those third quarter results CEO Dara Khosrowshahi bypassed normal employment checks to protect passengers, which put them in danger. It also treated the people doing its work like hot garbage. In other words, it squeezed the people on both sides of every transaction, as hard as it could, and still didn't make any money.The promise of Uber was it would eliminate the driver. But that was always a canard. The technology was stolen from Alphabet's (NASDAQ:GOOG, NASDAQ:GOOGL) Waymo, by a man named Anthony Levandowski. And it still doesn't work. The Bottom Line on Uber StockUber is the perfect business analogy for our time.It claimed to be profiting from the benefits of technology, but it was always about disintermediating law, not industry. Drivers were told they were qualified to be taxi drivers, and doubtless many were. Passengers were told technology could give them safe rides at a bargain price, and doubtless many got them. Investors were told that Uber stock could create a dominant position quickly, then squeeze all sides of the business for big profits.Which was the greatest fool? I'd argue it was those who invested in the Vision Fund. Son believed his own rhetoric. The Saudis bought his reality distortion field. Son has a second Vision Fund and insists he has learned his lesson.We shall see.Dana Blankenhorn is a financial and technology journalist. He is the author of the historical mystery romance The Reluctant Detective Travels in Time available now at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this story. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Hot Stocks for 2020's Big Trends * 7 Lumbering Large-Cap Stocks to Avoid * 5 ETFs for Oodles of Monthly Dividends The post Uber Stock Suffers Greatly From Company's Hazy 'Vision' appeared first on InvestorPlace.
The past decade saw a ton of innovation from incumbent companies — like Amazon, Google, and Facebook. But new companies emerged as well and made their mark.
"Since 2006, value stocks (IVE vs IVW) have underperformed 11 of the 13 calendar years and when they beat growth, it wasn't by much. Cumulatively, through this week, it has been a 122% differential (up 52% for value vs up 174% for growth). This appears to be the longest and most severe drought for value […]
(Bloomberg) -- SoftBank Group Corp. founder Masayoshi Son unveiled a $184 million initiative Friday to accelerate artificial intelligence research in Japan, enlisting Alibaba’s Jack Ma to expound on his goal of commercializing the technology.Son’s company announced a partnership with the University of Tokyo that includes spending 20 billion yen ($184 million) over 10 years by mobile arm SoftBank Corp. to establish the Beyond AI Institute. He roped in the Alibaba Group Holding Ltd. co-founder for an on-campus chat, during which the two billionaires discussed their vision for the future of technology.The institute will support 150 researchers from various disciplines and focus on transitioning AI research from the academic to the commercial using joint ventures between universities and companies. Health-care, city and social infrastructure and manufacturing will be the primary areas of focus, SoftBank Corp. said in a statement. That dovetails with its own goals: in November, SoftBank and Korea’s Naver Corp. said they plan to merge Yahoo Japan and Line Corp. into an internet giant under SoftBank’s control, to combine resources on AI and challenge leaders from Google to Tencent Holdings Ltd.Read more: SoftBank to Create Japan Internet Giant to Battle Global RivalsSon has long advocated AI as the most revolutionary new field of technological development. The Beyond AI Institute marks an investment in accelerating that research on his home turf, where he has previously bemoaned the relative under-performance of Japan’s startup scene. At the same time, he’ll be eager to put behind him a tough 2019 thanks to the calamitous implosion at WeWork and the shrinking values of Uber Technologies Inc. and Slack Technologies Inc.Offering a reminder of his most fruitful investment, Son hosted a talk with Ma, whose online retail empire has been the crown jewel in SoftBank’s investment portfolio. The two exchanged compliments and advocated passion, optimism and world-changing visions as essential to successful entrepreneurship.“In the past 20 years, we’ve been friends, partners and like soulmates in changing people’s lives,” said Son. Ma, in turn, said: “He probably has the biggest guts in the world when doing investment.”In a rare expression of contrition, Son recently said “there was a problem with my own judgment” after the WeWork debacle. He has imposed greater financial discipline on startups since then. On Friday, he said his enthusiasm for grand projects was undimmed. “My passion and dream is more than 100 times bigger than what I am right now. I am still only at the first step to my 100 steps.”To contact the reporters on this story: Vlad Savov in Tokyo at email@example.com;Takahiko Hyuga in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Vlad Savov, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Slack Technologies Q3 earnings handily beat analyst estimates on revenue and billings while guidance met expectations amid rising competition with Microsoft.
Wall Street analysts are split on Slack, with 45% having a Buy or Overweight rating on the stock and 45% with a Hold rating, according to FactSet.
Slack Technologies Inc (NYSE: WORK ) reported third-quarter revenue and earnings beats on Wednesday. Slack also guided for fourth-quarter revenue of between $172 million and $174 million, slightly above ...
Our call of the day comes from a stock bear who says he needs to see one clear signal before he starts jumping back into stocks.
Futures: The stock market rally got a bullish wake-up call, but took China trade news in stride. RH, Slack and hot IPO Progyny reported earnings late.
Slack Technologies, Inc., (NYSE: WORK) published a blog post written by Chief Executive Officer and Co-Founder Stewart Butterfield about shared channels, a new feature that allows Slack teams in different organizations to use Slack to collaborate together. The post can be found here.
(Bloomberg) -- Slack Technologies Inc. gave an upbeat quarterly forecast, demonstrating the software maker’s resilient growth despite intensifying competition from Microsoft Corp.Revenue will be $172 million to $174 million in the period ending in January, which would be 42% year-over-year at the midpoint, the San Francisco-based company said Wednesday in a statement. Analysts, on average, estimated $173.2 million, according to data compiled by Bloomberg.Chief Executive Officer Stewart Butterfield has sought to boost the number of paying customers for his company’s workplace messaging and workflow software, versions of which can be used for free. Slack, which had a direct listing on the New York Stock Exchange in June, is being challenged by Microsoft, the world’s largest software maker, which has a rival product called Teams that it sometimes gives to clients at no cost. Slack said it reached more than 105,000 paid customers in its second earnings report as a public company, fewer than the 106,700 analysts expected.“It was a great quarter for revenue growth,” Butterfield said in an interview. “We call out the enterprise growth specifically.”Competition with Microsoft has had a smaller effect on the business than some expected, he said. “There’s still a lot of market confusion and we’re going to have to work harder to dispel that. If you think about those concentric circles, there’s a lot where we don’t compete at all.”In the period ended Oct. 31, sales jumped 60% to $168.7 million. Analysts projected $156.2 million. Slack reported an adjusted loss of 2 cents a share for the quarter, compared with analysts’ estimates of 8 cents.The number of large customers grew 67% to 821 compared with a year earlier, slower than the pace in the fiscal second quarter, when the metric was 75%. For the first time, Slack disclosed that more than 50 customers are spending more than $1 million in annual recurring revenue on the company’s software.Shares gained about 2% in extended trading after closing at $21.66 in New York. The stock has dropped 17% since its initial public listing.Still, investors are wary about the competition from Microsoft. Slack said billings will be $745 million to $760 million in the fiscal year, the midpoint falling short of analysts’ average estimate of $754.3 million.Slack also announced that Chamath Palihapitiya, a venture capitalist and early investor in Slack, is stepping down from the board. Palihapitiya, who served as a director since 2017, will be replaced by Mike McNamara, former chief executive officer of Flex Ltd.Bloomberg Beta, the venture capital arm of Bloomberg LP, is an investor in Slack.(Updates with comments from CEO in the fourth paragraph)To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Slack Technologies Inc. easily beat the disappointing quarterly forecast it gave in its first earnings report as a public company Wednesday, but it didn’t seem to help the company’s beleaguered stock.
Slack Technologies Inc beat Wall Street estimates for quarterly revenue and profit as it signed on larger companies to its workplace communication platform, sending its shares up nearly 3% in trading after the bell. In the latest quarter ended Oct. 31, Slack grew by about 20% to more than 12 million daily active users. Slack added more than 105,000 paid users during the quarter.
Slack Technologies Inc (NYSE: WORK ) shares continue to fall despite reporting a third-quarter earnings beat on Wednesday. Adjusted earnings came in at a loss of 2 cents per share, beating estimates by ...
Slack Technologies, Inc., (NYSE: WORK), today announced the appointment of Mike McNamara to the company’s board of directors, effective immediately. Most recently, McNamara served as the Chief Executive Officer of Flex Ltd. (formerly Flextronics Ltd), a leading international product development firm.
STOCKSTOWATCHTODAY BLOG Three numbers to start your day: Americans Spent 16% More This Holiday Shopping Season —than last year. It counts the five-day period from Thanksgiving to Cyber Monday. Almost 190 million shoppers took advantage of the heavy discounts being offered during that time, according to data from the National Retail Federation.