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UNIS:UBR, Jan 20, 08:25 UTC

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Uber Technologies’ (UBER) Buy Rating Reaffirmed at Bank of America – Riverton Roll

UBR BAC

The firm currently has a $44.00 price target on the ride-sharing company’s stock. Stifel Nicolaus upgraded Uber Technologies from a hold rating to a buy rating and set a $34.00 target price for the company in a report on Friday, November 22nd. The stock presently has a consensus rating of Buy and a consensus target price of $48.35. Uber Technologies has a 52-week low of $25.58 and a 52-week high of $47.08.

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  • Financial

Wednesday, January 15


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Goldman Says It Sold Out of Uber Stake After IPO Lockup Expired

UBR GS

Goldman Says It Sold Out of Uber Stake After IPO Lockup Expired. (Bloomberg) -- Goldman Sachs Group Inc. has sold off its stake in Uber Technologies Inc. after the ride-hailing startup’s disappointing initial public offering in 2019. Goldman owned about 10 million shares of Uber at the time of the IPO, turning a $5 million wager using the firm’s own money back in 2011 into a major windfall. Goldman lost out to Morgan Stanley as lead banker on Uber’s IPO, one of the most highly-anticipated in 2019, though it did share some of the work along with Bank of America Corp. But Uber’s shares tumbled immediately after the listing and ended the year down 34% as investors questioned its path to profitability and regulatory challenges and controversies about passenger safety and the rights of drivers weighed on the company’s image.

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Uber: One of Uber’s most powerful women leaves to start a VC fund, Auto News, ET Auto

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The new firm increases the representation of women in venture capital, an industry dominated by men who bankroll startups mostly led by men. Rachel Holt, one of the first employees at Uber Technologies Inc. who rose to become one of the most powerful women at the company, is leaving to start a venture capital firm. Holt is teaming up with Dayna Grayson, a venture capitalist from New Enterprise Associates, to create the new firm, Construct Capital. Just 12% of startup investment firms in the U.S. have women in decision-making roles with the power to write checks, according to a report by industry research firm PitchBook and advocacy group All Raise.

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  • Financial
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Tuesday, January 14


News

Uber veteran Rachel Holt to leave

UBR

(Reuters) - Uber Technologies Inc's (UBER.N) senior executive Rachel Holt, who oversees the ride-hailing company's bike and scooter operations as well as partnerships with public transit organizations, will step down to start her own venture. "After 8.5 unforgettable years at @Uber and more than a half-dozen funding rounds, I've decided to put the shoe on the other foot...," Holt, Uber's head of New Mobility, tweeted here on Tuesday. Electric scooter company Lime, a San Francisco-based competitor of Uber's JUMP programme, last week said it was laying off 14% of its workforce and ceasing operations in 12 markets as it seeks to become profitable. Fuelled by venture capital funding, while electric scooter companies have flooded U.S. streets with app-based scooter rentals over the past years, none has yet turned a profit.Uber in November reported $38 million in third-quarter revenue from a non-core ride-hailing segment it calls "Other Bets," the largest portion of which includes its dockless e-bikes and e-scooters.

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As California’s AB5 Becomes Law, Uber’s Path to Profitability Just Got More Complicated

UBR

Jan 14, 2020 12:36PM EST. As California’s AB5 Becomes Law, Uber’s Path to Profitability Just Got More Complicated | NASDAQ. Many investors felt that the company's strong position in the ride-hailing industry would turn into meaningful returns on the stock market. However, things haven't gone that way, at least not yet. One reason behind this lackluster performance has been the red ink on Uber's bottom line. Although few people expected the ridesharing giant to turn a profit in its first year as a publicly traded company, the pace at which Uber has been losing money is dizzying. These benefits include paid time off, sick days, a minimum wage, and unemployment insurance, among others. However, California's AB5, which was signed into law last September and took effect Jan. 1, makes it harder for Uber to classify its drivers as independent contractors.

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News

The Zacks Analyst Blog Highlights: UnitedHealth, CVS Health, Morgan Stanley, Charles Schwab and Uber Technologies

SCHW UNH +6 more SCHW UNH UBR CVS MS KMI DAL CSX

Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: UnitedHealth Group UNH, CVS Health CVS, Morgan Stanley MS, Charles Schwab SCHW and Uber Technologies UBER. The Zacks analyst believes that UnitedHealth Group stands apart in the industry by virtue of healthcare services, technology and innovations offered by its unit, Optum. Shares of CVS have gained +14.5% in the past three months against the Zacks Retail Pharmacies and Drug Stores industry's rise of +10.1%.

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Monday, January 13


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Delaware court refuses to revive Uber shareholder lawsuit

UBR

— Delaware's Supreme Court has upheld a judge's dismissal of a shareholder lawsuit against ride-hailing company Uber and its former CEO. Levandowski was indicted in August by a federal grand jury in California on charges of stealing self-driving car technology from Google spinoff Waymo before joining forces with Uber. Kalanick, who was ousted as CEO in 2017, announced last month that he was resigning from the board of Uber, which he co-founded a decade ago. In the Delaware lawsuit, Lenza McElrath III, an Uber shareholder and former employee, alleged that Uber's board ignored the alleged theft of Google's intellectual property and failed to conduct due diligence that would have revealed problems with the deal. While noting that Uber directors approved "a flawed transaction," a three-judge panel of the Supreme Court nevertheless said it was not deciding the merits of the claims.

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The Zacks Analyst Blog Highlights: Advanced Micro Devices, Intel, NVIDIA, Qualcomm and Uber

UBR 992 +3 more UBR 992 INTC QCOM NVDA

Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. In 2020, they’re accompanied by a kind of phone-as-a-service offering called Teracube (for $39, its manufacturer will replace broken phones with near-new refurbished versions during the 4-year warranty period). The IoT group is as large as it is impressive. Some of the more interesting announcements here are the Juno chiller that can chill a drink in a matter of minutes (in case you haven’t refrigerated it and are also out of ice cubes); a 21.9-inch Lenovo Smart Frame designed for hanging on the wall; an in-home water treatment plant that can recycle 85% of household water called Hydraloop; a garbage disposal option that can separate compostable material called Sepura manufactured by Anvy Technologies; a device called GENNY by Watergen that converts moisture in the air to drinking water. Some of the IoT announcements are of a more personal kind. They include not just new versions of smartwatches like the Withings ScanWatch and the Suunto 7 Wear OS-based smartwatch, but also an all-new head band called Urgonight that’s designed to help you sleep better; smart toothbrushes (Y-brush and Colgate's Plaqless Pro); a smart bath mat that measures your weight, checks the way your feet stand on it and suggests better postures and exercises; an LED desk lamp called Lexilight to facilitate reading by dyslexia patients (a condition where you have two dominant eyes), several smart hearing aids that also offer noise cancellation and enable music streaming, hands-free calling, determining the sounds you want to hear and the times you want to hear, etc.

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Saturday, January 11


News

Uber Colombia Services: Lawsuit forces Uber to stop operating in Colombia, Auto News, ET Auto

UBR

The company said it will appeal the ruling, which it described as "arbitrary" and in violation of a free trade agreement between Colombia and the United States that protects subsidiaries of American companies. Uber said that it has more than 2 million users in Colombia as well as 88,000 drivers who make some or most of their income through the app. Uber's decision to leave Colombia takes place after the company lost a lawsuit presented by a taxi company, that claimed the app was illegally diverting customers away from the nation's yellow taxis, and supplying public transport without an appropriate license. While the lawsuit was being reviewed by Colombia's Superintendency for Commerce, taxi drivers' unions lobbied the government of President Ivan Duque to stop Uber and similar apps from operating in Colombia and promised that they would not join a large wave of anti-government protests that began at the end of November and undermined support for Colombia's conservative president. In a video posted on Facebook last month following the ruling against Uber, taxi union leader Hugo Ospina said that Duque "kept his word" to taxi drivers, who had thrown their weight behind the embattled president.

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Friday, January 10


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