|Bid||43.17 x 800|
|Ask||43.18 x 800|
|Day's Range||43.16 - 44.09|
|52 Week Range||36.08 - 47.08|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||2,398.89|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||53.86|
On a sum-of-the-parts basis, the shares are arguably priced as much as 50% below the Japanese company’s underlying asset value.
Why are some mobility experts spooked by this plan to develop a data standard that would allow cities to build a real-time traffic control system?
After making headlines with its astonishing public debut without the help of bankers, Slack (WORK) seems to have lost steam in July.
(Bloomberg) -- Lyft Inc. wants its riders in America’s largest city to know that they might not need to take a Lyft. They can just ride the subway.Over the next few months, Lyft said users of its app will be able to access real-time public transportation information in New York City. The move marks another twist in the ride-hailing industry’s fraught relationship with New York, which is both home to the world’s most heavily used public transportation network and the site of a history of legal tussles between the companies and city officials.The app update shows users the locations of nearby subway and bus stations, as well as docks for Citi Bike, the New York bike-share program operated by Lyft. The features are part of a bid to keep users engaged on the platform, rather than navigating away to a different app for subway or bike information. It’s a calculated bet that more info won’t tempt too many people to take the train instead of calling a Lyft.Lyft has begun rolling out the update and will continue to do so gradually. All New York users will receive the new features by the end of September, the company said. “Lyft’s mission is to provide the world’s best transportation, and that definitely includes public transit,” said Lilly Shoup, the senior director of transportation policy. In cities like New York, public transit can be faster and more convenient than driving, she said.While Lyft will provide riders with up-to-date subway arrival times, the company doesn’t have a formal partnership with the city of New York. Riders will still need to swipe their MetroCard to access the subway.The new offerings may serve to endear Lyft to New York’s lawmakers, who have recently passed new rules targeting the ride-hailing industry. City officials have been vocal critics of the company and its competitors, saying they have driven down driver wages and worsened traffic. Lyft sued New York this year in a bid to prevent the implantation of a new driver minimum wage law, but a judge dismissed the suit in May.The addition of subways and buses is a step for Lyft toward its ultimate goal of being an all-encompassing transportation service. Both the company and its larger rival, Uber Technologies Inc., have told investors they want users to remain on their apps no matter the mode of transit. As they geared up for their initial public offerings this year, both companies touted their respective integrations with other subway systems and public transit services.Uber said recently that it had sold more than 1,200 bus and train tickets in Denver as part of a partnership with public transit there. Lyft already has public transportation data in Boston, Chicago, Denver, Los Angeles, Seattle and Washington, the company said.The two companies have also moved aggressively into bike-sharing. Lyft’s acquisition last year of Motivate, the operator Citi Bike, gave it a massive fleet of bicycles in New York, with plans to expand to 40,000 in 2023. Meanwhile, Uber has a fleet of 400 electric Jump bikes in the Bronx and Staten Island.Lyft said integrating more services into its app is a natural step, particularly because many journeys involve more than one mode of transit. “One of our busiest Citi Bike stations is the one outside Grand Central,” Shoup said. “We can really expand the effectiveness and the reach of transit.”Uber is still by far the largest player in the business of getting people around in cars in New York. But both companies have hit roadblocks as the city has cracked down on ride-hailing. Uber and Lyft have each sued city agencies over different rules and started to experiment with creative tactics to address new restrictions. An Uber lawsuit attempting to derail a cap on drivers is ongoing; Lyft lost its suit contesting driver pay rules, though it could appeal.Lyft has begun preventing drivers in New York from accepting rides if they’re in low-demand parts of the city. That’s in response to a rule expected to go into effect next year that would require companies to pay drivers based on how many trips the average driver receives per hour. The rule is expected to advantage Uber, which has more riders and drivers.Meanwhile, Uber is laying out a plan in response to rules that would charge ride-hailing drivers extra if they’re hanging around in the core of Manhattan without a passenger. Uber has made inquiries about purchasing a parking lot to hold about 250 cars just outside the heart of Manhattan. Cars would sit parked and then drive into the city’s core only after a passenger requests them. Crain’s New York Business first reported on the possible parking lot.Uber said it’s worried that drivers would otherwise crowd streets around the perimeter of the proposed regulated zone. “If the city passes the proposed ‘cruising cap,’ we want to be prepared to help mitigate the inevitable congestion that will be caused by app drivers waiting to access the central business district,” Alix Anfang, an Uber spokeswoman, wrote in an email. One time-honored congestion solution, of course, is taking a train.To contact the author of this story: Eric Newcomer in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Anne VanderMey at email@example.com, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Yesterday, the Wall Street Journal reported that Adam Neumann, WeWork’s co-founder and CEO, sold some of his stock and has borrowed against his shares in the coworking giant.
—if they sign up for the ride-hailing company’s rewards program. The rewards program was just expanded, and allows so-called ‘Uber Pro’ driver partners to earn credits for every ride they take. Over the 12 months through the end of May, investors pulled a net $151 billion from hedge funds globally.
Tomorrow, Lyftand Uber drivers will convene outside Uber's San Francisco headquarters tomake their voices heard
At the same time, I wrote a series of four articles on the latest transport technologies, and the waves they would create with perspectives focused on the impact on retail, commercial real-estate, short-haul travel and hyperloop. Among those predictions was the impact hyperloop and autonomous vehicle technology would have on commuting, short-haul air travel and the retail industry. Since then, these technologies have continued to develop and evolve, and it’s worthwhile to revisit assumptions and assertions.
In the city's crunched office market, tenants are signing onto spaces that are years from delivery, or else find other creative ways to keep expanding.
The company has a long runway of growth up ahead, particularly from autonomous vehicles and new services like Uber Eats, but a dividend is not on the roadmap Continue reading...
Semiconductor chips are amongst the most ubiquitous of items around the globe. Chips are found in every electronic gadget from your phone to your tablets and laptops to televisions and your car or Uber (NYSE:UBER) vehicles. Needless to say, semiconductors are a big market.Source: Shutterstock But it is a market which has many major and minor companies that start from mining operations for raw materials to foundries for the building blocks of chips to various chips themselves. And it continues to the companies that take the chips to build and sell or use the chips in their products and services. This means semiconductor ETFs are an ideal way to play the sector.For investors, there are many, many themes and market strategies for the chips market which can be both bearish and bullish for any given time period. This just increases the need for semiconductor ETFs.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 3 Food Stocks to Buy for Fast and Big Profits Right now, chips are being touted as part of major market developments. It starts with the 5G wireless buildout and rollout. From the data centers to communications networks and all the way through to antennas and devices -- 5G is upping demand for all sorts of chips and related semiconductor materials.Then we have the rapidly developing market for artificial intelligence (AI) and augmented reality (AR) that have great promise for many areas from healthcare to education and manufacturing and even marketing.And new devices keep coming from all corners of the globe from Apple (NASDAQ:AAPL) -even if they don't do any of the heavy lifting in engineering their branded products. And the list goes further including my favorite Samsung electronics (which I have in my Niche Investments section of my model portfolios in Profitable Investing.)And from the gaming to the ever-hyped cryptocurrency mining operations -- graphics processing units (GPUs) remain highly in demand bringing another wave of chips in demand as well.Chips have been on a good run in the stock market. For over the past trailing five years, the industry leaders as tracked by the MVIS U.S. Listed Semiconductor Index have generated a return of 154.69% compared to the S&P 500 Index's return of 69.43%. Chips vs StocksSo, chips are a bigger business than the rest of the broader stock market. This should get your attention and peak your interest in semiconductor ETFs.But at the moment, trade tensions are weighing on many of the leading companies doing the heavy lifting in semiconductors and chips. U.S.-China tensions and trade restrictions on components and products are causing sales headaches beyond just those two nations. And a major trade problem between South Korea and Japan is directly impacting semiconductor material sourcing.That said, if you want to cash in on the ongoing market, stay with the U.S.-centric ETF market. This means that there are two semiconductor ETFs to focus upon. Two U.S. Semiconductor ETFs to BuyThe first is the iShares Semiconductor ETF (NASDAQ:SOXX). It tracks the PHLX Semiconductor Sector Index and does a pretty good job of it with a return over the past five years of 154.06%, compared to the SOX Index return of 160.82%.Some of the variance comes from the expense ratio of 0.47% which is a bit high in my book for such an index-tracking ETF.The second ETF is the VanEck Vectors Semiconductor ETF (NYSEARCA:SMH). This ETF tracks the MVIS US Listed Semiconductor Index. Not surprisingly, the SMH ETF closer tracks its index with the five-year return running at 148.10% compared to the underlying index return of 147.38%.This closer return result is perhaps also due to the underlying cheaper expense ratio of 0.35%. An Alternative Semiconductor ETFInstead of focusing solely on semiconductor ETFs -- another alternative would be to focus on the broader information technology companies. This would provide exposure to semiconductor-related companies as well as software, services and related hardware -- all of which depend on semiconductors in some capacity. This is my approach as I recommend the Vanguard Information Technology ETF (NYSEARCA:VGT).The return of the Vanguard ETF for the past five years has been 139.61%. And 16.42% of the fund is allocated toward semiconductors. It has a geographic allocation of 96.89% to U.S. companies with minor weightings to Ireland where U.S. companies domicile for tax purposes as well as to Israel.The Vanguard ETF actually out-returns the underlying MSCI Index over the trailing five years and runs quite lean with an expense ratio of a mere 0.10%.Now that I've presented my way to invest in the semiconductor technology space with ETF's, perhaps you might like to see more of my market research and recommendations for further safer growth and bigger reliable income. For more, look at my Profitable Investing. Click here to learn more: https://profitableinvesting.investorplace.com/ * 7 Stocks Top Investors Are Buying Now In addition, if you find yourself in San Francisco on August 15 through 17 - please join me at the MoneyShow where I'll be presenting my economic and market analysis and my latest investment themes and recommendations. For more information, click here: https://www.moneyshow.com/Neil George is the editor of Profitable Investing and does not have any holdings in the securities mentioned above More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post 2 Semiconductor ETFs to Buy to Play the Chip Sector appeared first on InvestorPlace.
Uber is expanding a new rewards program for drivers. So-called “Uber Pro driver partners” can earn credits toward a car, which along with other incentives, puts more money in drivers’ pockets.
(Bloomberg) -- After surviving a two-day battering on Capitol Hill, now comes the hard part for Facebook Inc.: turning its 12-page white paper into a legitimate cryptocurrency in the face of deep skepticism from central banks, regulators and politicians of all stripes.David Marcus, the Facebook executive leading its blockchain efforts, spent much of his time at congressional hearings this week apologizing for the past mistakes of his employer. When he wasn’t defending Facebook, Marcus tried to explain how Libra -- the proposed currency -- would actually work. He said repeatedly that he wants to work with Congress and regulators to get Libra off the ground, and has no plans to debut the new currency before regulatory bodies are satisfied.“Nothing is launched and nothing will launch until all concerns are addressed,” Marcus said Wednesday. He reiterated a version of that promise over and over during more than six hours of testimony in Washington this week before members of the House Financial Services Committee and the Senate Banking Committee.Still, large existential questions remain about the project, including who or what will be regulating Libra. Marcus said it was not his place to decide who Libra’s regulator would be, though he appeared to reject the idea that Facebook should be treated like a bank. Marcus denied that the company would offer banking services, and also argued that he doesn’t believe Libra is a security that should fall under the Securities and Exchange Commission.Those issues are unlikely to be resolved soon, since the Libra currency doesn’t yet exist; and the Libra Association, the governing body made up of Facebook and other institutional partners that will be charged with overseeing the currency, has yet to be fully formed.The 28 companies that currently make up the association have not yet drafted a charter, and still must appoint a board and a general manager. Libra will also face additional concerns from international regulators and lawmakers, which could further delay its progress.In the meantime, two people familiar with Facebook’s cryptocurrency plans say the hearings did not give the company any immediate reason to change course.The people, who asked not to be identified because the planning is private, also said that Facebook’s team hoped that other members of the Libra Association would be more active in conversations with the media and with regulators. Of the group’s 28 “founding” members, including PayPal Holdings Inc., Visa Inc. and Uber Technologies Inc., Facebook is the only one that testified before Congress, and is by far the company most closely associated with the effort.Over the course of the hearings, a few central questions emerged. Here’s what we know now about how Facebook and the Libra Association will try to answer them in the coming months.1\. What is Libra, exactly?The coin’s legal classification remains murky, which could pose challenges for federal watchdogs eager to slide the token into the U.S.’s existing regulatory regime.Some observers have argued that Libra resembles a mutual fund or exchange-traded fund that is based on an index, an investment that would be regulated by the SEC. Labeling Libra a similar product could provide policy makers the hook they need to police the coin, while also giving regulators a mechanism to slow the project down as Facebook goes through a lengthy SEC approval process.At Wednesday’s hearing, Marcus insisted the coin is a just “payment tool” or maybe a commodity that shouldn’t be subject to the SEC’s rules.2\. Is Facebook getting into banking?Marcus went to great lengths in his Senate and House testimony to insist that the company was not. There won’t be bank accounts; holders of Libra won’t be earning interest; and Facebook won’t be taking deposits, he told lawmakers.“It’s like digital cash,” Marcus said. One reason Facebook wants to stay away from these activities is that they would require a federal banking charter. That would open the company up to much stricter oversight, likely by the Office of the Comptroller of the Currency and the Federal Reserve. The company would face many new, costly regulatory requirements like capital standards and stepped-up disclosures. It would also be subject to monitoring by government examiners.3\. Why is the Libra Association headquartered in Switzerland?This was a very popular question from members of both the House and Senate. Lawmakers raised concerns that Facebook set up the Libra Association in Switzerland to avoid U.S. regulations. Marcus said that was not the case, and said that the location of Libra’s headquarters had “nothing to do with us evading our responsibilities.”Marcus said that Switzerland offered Libra an “international platform” so that it would be recognized globally, and noted that Switzerland is home to other global institutions, like the World Trade Organization.4\. How will Facebook make money from this?In the short term, Marcus says Libra will improve Facebook’s advertising business by increasing the amount of commerce that happens through Facebook’s products. If more people have digital wallets, they may be more likely to make purchases through Facebook or its other properties, like Instagram or Messenger. That, Marcus says, makes Facebook’s ads more valuable because it gives marketers more incentive to reach users with money at their disposal.Marcus also said that it’s possible Facebook could one day offer financial services, including, potentially, loans, but that those products would be done through partnerships with an existing bank, allowing the company to avoid opening a bank of its own.5\. What, if anything, can Congress actually do to stop Libra?While both chambers of Congress are clearly concerned, whether or not they will pass any legislation that would affect the project is less clear. House Financial Services Committee Chairwoman Maxine Waters, a California Democrat, discussed a bill that would bar large tech platforms from being financial institutions -- possibly blocking Libra -- though it’s unclear how much support such a proposal would garner.Other lawmakers discussed creating a regulator just for digital currencies or using broader data privacy legislation to address Libra. But so far, there’s no consensus on a resolution. As Congress nears its August recess, it’s unlikely any of those issues will be addressed quickly.\--With assistance from Austin Weinstein, Ben Bain and Robert Schmidt.To contact the reporters on this story: Kurt Wagner in San Francisco at firstname.lastname@example.org;Julie Verhage in New York at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Anne VanderMey, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Which is real? And which is really real, I mean, earnings-per-share real? When Big Tech goes to Washington, you have to worry about what's headline risk and what's EPS risk -- and the gulf between the two is huge.
Uber (NYSE:UBER) stock and Lyft (NASDAQ:LYFT) stock are off to bumpy starts to life on the market. A critical vote in California could soon make life much more difficult for the ridesharing stocks, particularly Lyft.Source: Shutterstock The biggest criticism of Lyft stock has been that the company hasn't proven a path to profitability. If Lyft has to start providing its drivers with costly benefits, that path to profitability will get much longer and narrower. What Is Assembly Bill 5?Throughout their existence, Uber and Lyft have classified their drivers as independent contractors rather than employees. By doing so, those drivers are not entitled to benefits or other perks associated with full-time employment. That classification allows companies like Lyft to save a bundle on costs, which is good news for Lyft stock price.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn 2019, the California state Supreme Court made a ruling known as the Dynamex decision. The Dynamex decision dictates a three-pronged ABC test for determining whether or not a worker is an independent contractor:* The employee must be free to operate free from control of its employer.* The employee must fall outside of the typical scope of the company's hiring.* The worker must have an independent business outside of the job he or she was hired to do. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip This ABC test is included in AB-5, a new bill that is currently passing through the legislative process in California. Lawmakers in both state houses have until Sept. 13 to vote on the bill. Uber and Lyft Aren't HappyInvestors don't need to dig too deeply to see what impact AB-5 may have on Uber and LYFT stock. Uber and Lyft reportedly paid drivers up to $100 to protest the bill outside the state capitol.The companies also published an op-ed in the San Francisco Chronicle making the case against AB-5. Some Uber and Lyft drivers have said the companies even misled them into signing petitions in protest of AB-5. The drivers received in-app messages asking them to sign a petition to help their companies "fight for driver flexibility and independence." The messages did not mention AB-5 by name.The fact that Uber and Lyft are fighting AB-5 so hard is a clear sign the law would be bad news for business. California has also historically been a leader in progressive movements that ultimately sweep nationwide. In other words, the damage for UBER and LYFT stock may not be contained in California. Biggest Risk for Lyft Stock PriceWedbush analyst Daniel Ives says AB-5 could put Uber and Lyft on the hook for a wide range of new costs. These costs include vehicle maintenance, gas, and insurance. In addition, workers would be protected under U.S. labor laws. The companies would be responsible for payroll taxes, social security, unemployment insurance taxes and state employment taxes.AB-5 would be bad news for both companies, but its a bigger risk to Lyft. Wedbush estimates California represents about 17% of Uber's total business. For Lyft, California is 24% of all U.S. sales.Ives says if AB-5 passes, Uber and Lyft are likely to challenge it in court. That process could be long and expensive as well, and it wouldn't guarantee a victory.Investors and analysts have been digging into Uber and Lyft's cash flow, growth rates, and revenue per active rider. Ives says they should also be paying close attention to AB-5."This senate decision is a microcosm of possibly the largest risk in the ride-sharing industry and a situation we will be closely watching over the coming months," he says.I have been very critical of the two ridesharing IPOs all year, particularly Lyft stock. AB-5 is just one of a handful of reasons investors should stay on the sidelines at this point.Even if you are a Lyft stock bull, your thesis likely revolves around what the company will grow to become five or 10 years down the line. It's unlikely the picture for Lyft will change dramatically in the next nine-to-12 months. By waiting a little while before buying, investors can get some much-needed clarity on AB-5 and on Lyft's financial trajectory going forward.As of this writing, Wayne Duggan did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post California AB-5 Vote Is Bad News for Uber and Lyft Stock appeared first on InvestorPlace.
Uber Technologies is trying to break out past a potential buy point in the current stock market rally, but is it a buy?
More companies appear to be aiming lobbyists at the North Carolina General Assembly in 2019. The latest figures out of the North Carolina Secretary of State’s office show 1,062 entities - from companies to municipalities - have registered lobbyists working on behalf of their agendas on Jones Street. None of those companies registered lobbyists in the state a year ago, yet, in the latest report, Bird, Lime, Lyft and Airbnb all have representation in the registry.
Domino's Pizza Inc. Chief Executive Richard Allison said third-party delivery services like DoorDash and Uber Eats were a challenge during the second-quarter, and they aren't going away. "Our same-store sales performance for the quarter came in toward the lower end of our three-to-five-year outlook as we continue to navigate through headwinds related to aggressive activity from third-party aggregators," he said, according to a FactSet transcript. "I do not expect this activity to ease in the near term." Domino's reported a second-quarter revenue miss and same-store sales growth that missed expectations. "Domino's Pizza remains on the 'Biggest Concerns List' from CFRA Forensic Research Services, partly on sales and profit margin pressures and reduced operating leverage," wrote CFRA's Tuna Amobi in a note. CFRA maintained its hold opinion on Domino's stock but cut its price target to $270 from $290. BTIG remains bullish. "We maintain our buy rating on shares of Domino's Pizza following earnings as we believe the retail sales and market share gains the concept is generating will ultimately translate into a higher stock price," wrote analysts led by Peter Saleh. "While disappointed with domestic same-store sales results this quarter, new unit and retail sales growth remains healthy and we believe the stock's decline is more a function of elevated expectations rather than inflated valuation." BTIG cut its price target to $325 from $335. Domino's Pizza shares closed Tuesday down 8.7%, but are nearly unchanged in Wednesday trading. The stock has fallen 12.5% over the last year while the S&P 500 index has gained 6.6% for the period.
Uber is taking a stance to prevent sexual harassment. According to CNN, the ride-sharing company is partnering with nonprofit organization, the Purple Campaign, whose mission is to end sexual harassment in the workplace by implementing stronger corporate policies. Uber, along with other well known companies like Expedia, Amazon and AirBnb will share information with the nonprofit about its internal policies and training efforts, ultimately looking to internally address and prevent sexual harassment.