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The Latest Breaking News from Uber Technologies Inc

Grab Loses Its Tech Lead To This Crypto Gaming Startup

Grab Holdings Inc's (NASDAQ:GRAB) technology head quit the ride-hailing and food-delivery company after seven years to lead a new cryptocurrency gaming venture, Bloomberg reports. Wui Ngiap Foo, in charge of Grab's mobility-services fleet, would depart on March 31. Foo looked to join crypto gaming startup, Ethlas, as CEO and co-founder in the…

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Instacart Cuts Valuation By 40%: Bloomberg

American grocery company Instacart Inc has slashed its valuation by 40% to about $24 billion, Bloomberg reported. The food-delivery startup had been valued at $39 billion in its most recent fundraising round, the report added. The pandemic darling hoped the move to boost talent retention. Factors like higher interest rates, inflation, and a…

Benzinga

BP To Inject £1B In UK Electric Vehicle Charging Infrastructure

BP plc (NYSE:BP) has announced a £1 billion investment for the U.K. electric vehicle (EV) charging infrastructure over ten (10) years. The investment, which will see a tripling of charging points by 2030, was unveiled during an official visit by Transport Secretary Grant Shapps to BP pulse's UK headquarters in Milton Keynes. It…

Benzinga

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Uber Analyst Says Business Is Booming In March, Despite Spike In Gas Prices

Shares of Uber Technologies Inc (NYSE: UBER) jumped 4.6% on Thursday after the company announced a new deal that will allow the app to list New York City taxis on its app for the first time.

Benzinga

Why Uber Shares Are Surging

Uber Technologies Inc (NYSE: UBER) shares are trading higher Thursday morning following a Wall Street Journal report indicating the company has reached a deal to list all New York

Benzinga

EVgo Bags California Energy Commission Grants For Rideshare Electrification

EVgo Inc (NASDAQ:EVGO) has been selected for proposed awards for two California Energy Commission (CEC) Charging Access for Reliable On-Demand Transportation Services (CARTS) grants. The proposed grant amounts to over $3.6 million. The proposed awarding of two CARTS grants builds upon EVgo's previously announced partnership with Uber Technologies Inc (NYSE:UBER). EVgo will build twin public…

Benzinga

Read Why RBC Capital Slashed Price Targets Of Uber, Lyft

RBC Capital analyst Brad Erickson slashed the price target on Uber Technologies Inc (NYSE:UBER) to $50 from $65 (57% upside) but kept an Outperform. Erickson cut the price target on Lyft Inc (NASDAQ:LYFT) to $50 from $53 (37% upside) and kept an Outperform. Erickson cited the findings from RBC's proprietary driver supply analysis that gave a relative…

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Looking Into Uber Technologies Inc's Recent Short Interest

Uber Technologies Inc's (NYSE:UBER) short percent of float has risen 14.08% since its last report. The company recently reported that it has 82.76 million shares sold short, which is 4.7% of all regular shares that are available for trading.

Benzinga

Lyft, GrubHub Follow Uber, Boost Gig Driver Pay

Lyft Inc(NASDAQ:LYFT) admitted adding a temporary surcharge on its rides to help drivers deal with surging gas prices, CNBC reports. The Uber Technologies Inc(NYSE:UBER) competitor did not elaborate much on surcharge. Food-delivery marketplace GrubHub Inc (NASDAQ:GRUB) also boosted the pay for its gig drivers, Bloomberg reports. Related Content: Uber Adds Surcharge To Help Drivers Bear…

Benzinga

DiDi Had To Postpone Its IPO After Jack Ma's Ant: Bloomberg

DiDi Global Inc (NYSE:DIDI) had to pull the brakes on its Hong Kong listing as it failed to satisfy China's concerns over sensitive data leak, Bloomberg reports. Uber Technologies Inc's (NYSE:UBER) Chinese counterpart remained vulnerable to the possible derailing of its listing plans and regulatory penalties. The ride-hailing company's main apps were removed from local…

Benzinga

Uber, Lyft Drivers Lock Horns With Riders Over Mask Mandate: WSJ

A new crisis challenges the ride-sharing companies like Uber Technologies Inc (NYSE:UBER) and Lyft Inc (NASDAQ:LYFT) as the states lift mask mandates, the Wall Street Journal reports. The companies require the riders to continue wearing masks. However, drivers find it challenging to remain masked as the local governments push for a widespread reopening. The U.S.…

Benzinga

Rental Car Companies Mull Electrification: Reuters

The rental car industry, after a stellar performance boosted by the pandemic, is poised to embrace electrification, Reuters reported. Asian automakers could enter the electric transition, dominated by companies in the west, mainly in the U.S. and Europe. The report quoted Olivier Baldassari, group chief countries, and operations officer at rental…

Benzinga

Nvidia Invests $10M In This Uber Spinout

Chipmaking giant NVIDIA Corp (NASDAQ:NVDA) invested $10 million in Uber Technologies Inc (NYSE:UBER) spinout Serve Robotics, TechCrunch reports. Serve aims to use the funds to further expand its sidewalk delivery robot service outside Los Angeles and San Francisco. “Nvidia’s investment is rooted in a longtime partnership with Serve using various technologies from us, from the…

Benzinga

Uber Analyst Bullish Following Guidance Update, Says Rising Gas Prices Not A Threat

Shares of Uber Technologies Inc (NYSE: UBER) gained over 7% on Tuesday morning after the company raised its earnings outlook as the U.S. mobility market continues to recover from the pandemic.

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Uber Et al Campaign Against Democrat's Efforts To Classify Gig Workers As Employees

A string of companies using independent contractors as drivers launched a campaign to head off Democratic efforts to classify their workers as employees, allowing them to form unions, the Wall Street Journal reports. The companies include Uber Technologies Inc (NYSE:UBER), Lyft Inc (NASDAQ:LYFT), DoorDash Inc (NYSE:DASH), GrubHub Inc (NASDAQ:GRUB), and others. The companies aim to spend over $1 million…

Benzinga

Why Uber Shares Are Trading Higher Today

Uber Technologies Inc (NYSE:UBER) updated its guidance for the first quarter of FY22. Uber now sees adjusted EBITDA of $130 million - $150 million up (from $100 million - $130 million) Uber sees a sequential improvement in both Mobility and Delivery segment Adjusted EBITDA (Q1 2022 over Q4 2021). Related Content: 5 Uber Analysts…

Benzinga

Uber Launches 'Explore' To Further Diversify Revenue Stream

Uber Technologies Inc's (NYSE:UBER) new "Explore" feature will allow users to book dinner reservations, concert tickets, and other events directly through the Uber app. This new feature, Uber Explore, will appear as a new tab in the app. Users can buy tickets with their Uber Wallet or a credit card. Previously, Uber heavily…

Benzinga

What's On With Yandex Shares Today

Lithuania's transport and economy ministers have asked Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, and Apple Inc (NASDAQ:AAPL) to remove the app for the Yandex taxi ride-hailing service in the country, Reuters reports. The app is a threat to Lithuanian national security, Lithuania's transport minister Marius Skuodsi said. Uber Technologies Inc (NYSE:UBER) and Russia's Yandex NV (NASDAQ:YNDX) own the app.…

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Benzinga

UK Storm Disrupts Uber, Deliveroo, Just Eat's Food Delivery

Storm Eunice partially disrupted the services of food delivery companies, including Deliveroo PLC (OTC:DROOF), Just Eat Takeaway.com NV ADR (OTC: JETKY), and Uber Technologies Inc (NYSE:UBER) in the U.K., Bloomberg reports. The storm disrupted their services for several hours on February 18. The Met Office issued a red warning for London and Southeast England amid winds as high…

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DiDi To Slash 20% Workforce Ahead Of Hong Kong Listing: Report

China's Uber Technologies Inc (NYSE:UBER) counterpart DiDi Global Inc (NYSE:DIDI) looks to reduce its overall headcount by 20% as it pushes ahead with its Hong Kong listing, Bloomberg reports. Most of DiDi's core businesses will be affected by the cuts. DiDi aims to reduce expenses ahead of the Hong Kong listing. The report adds that…

Benzinga

Why Wedbush Is Cutting The Price Target On Uber Technologies

Although Uber Technologies Inc’s (NYSE: UBER) Investor Day highlighted growth drivers, the company’s 2024 adjusted EBITDA target came in short of consensus, according to Wedbush.

Benzinga

5 Uber Analysts Hail Q4 Revenue Beat, Omicron Rebound

Uber Technologies Inc (NYES: UBER) reported a fourth-quarter sales beat Wednesday and said business is bouncing back from the omicron outbreak.

Benzinga

Uber Shares Turn Lower Following Investor Day Presentation: Why This Investor Liked What He Heard

Uber Technologies Inc (NYSE: UBER) shares surged higher Thursday morning after the company announced strong quarterly results, but the stock was halted and turned negative following announcements at Uber's investor day presentation.

Asharq Al-Awsat

Uber’s Mideast Business Careem Looking to Fill over 200 Jobs, LinkedIn Post Says

Uber's Middle East business Careem said on Monday it was looking to fill more than 200 roles in the company, according to a LinkedIn post by the company. Careem said it was looking to fill jobs that spanned across the ride-hailing firm, "from engineers to data analysts, operations managers to…

Benzinga

How Is The Market Feeling About Uber Technologies Inc?

Uber Technologies Inc's (NYSE:UBER) short percent of float has fallen 10.0% since last its last report. The company recently reported that it has 70.79 million shares sold short, which is 4.05% of all regular shares that are available for trading.

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