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10 stories mentioning LYFTUpdated 8d ago

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Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.In corporate news, Paramount Skydance (PSKY) won conditional approval from the European Commission for its acquisition of Warner Bros. Discovery (WBD). Paramount shares rose 2.5%, and Warner gained 0.3%.Uber (UBER) and Lyft (LYFT) were granted a preliminary injunction by US District Judge Gregory Woods, blocking a recently enacted New York City law protecting ride-share drivers from "wrongful deactivations." Uber shares fell 2%, and Lyft slumped 4.2%.Alaska Air (ALK) shares fell 3% after the airline issued a Q3 earnings outlook below market estimates and swung to a Q2 loss as higher fuel costs weighed on results.Philip Morris International (PM) reported better-than-expected Q2 results and reiterated its full-year outlook. The shares climbed 3.3%.

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Wire

Update: Uber, Lyft Granted Preliminary Injunction Blocking New York City Law Against 'Wrongful Deactivations' of Drivers

(Updates with Uber's response in the fifth paragraph.)Uber Technologies (UBER) and Lyft (LYFT) were granted a preliminary injunction by US District Judge Gregory Woods on Wednesday, blocking a recently enacted New York City law protecting ride-share drivers from "wrongful deactivations."Judge Woods said that each company's agreements with drivers conferred broad authority over platform access, including the right to deactivate a driver without advance notice, which Uber and Lyft use to police the safety of their platforms and their passengers, according to court documents.While the New York City Council law takes into account the hardships that wrongful deactivation imposes on drivers, it does not consider the law's effects on the broader citizenry of the city, whose safety depends in part on swift deactivation of drivers accused of assault, fraud or dangerous conduct, the court order said.A Lyft spokesman toldin an email that the company was "pleased the court recognized the serious safety concerns at the heart of this challenge. Lyft's ability to protect riders is a top priority. We now look forward to making our full case."An Uber spokesperson toldthat the court's opinion underscores that driver fairness and rider safety can and must go hand in hand.Price: $70.85, Change: $-0.70, Percent Change: -0.99%

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Wire

Uber, Lyft Granted Preliminary Injunction Blocking New York City Law Against 'Wrongful Deactivations' of Drivers

Uber Technologies (UBER) and Lyft (LYFT) were granted a preliminary injunction by US District Judge Gregory Woods on Wednesday, blocking a recently enacted New York City law protecting ride-share drivers from "wrongful deactivations."Judge Woods said that each company's agreements with drivers conferred broad authority over platform access, including the right to deactivate a driver without advance notice, which Uber and Lyft use to police the safety of their platforms and their passengers, according to court documents.While the New York City Council law takes into account the hardships that wrongful deactivation imposes on drivers, it does not consider the law's effects on the broader citizenry of the city, whose safety depends in part on swift deactivation of drivers accused of assault, fraud or dangerous conduct, the court order said.A Lyft spokesman toldin an email that the company was "pleased the court recognized the serious safety concerns at the heart of this challenge. Lyft's ability to protect riders is a top priority. We now look forward to making our full case."Uber did not immediately respond to a request for comment.Price: $70.63, Change: $-0.92, Percent Change: -1.29%

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Wire

Lyft to Acquire Serveo's Bikeshare Business in Spain

Lyft (LYFT) said Wednesday its micro-mobility division, Lyft Urban Solutions, intends to acquire Serveo's bikeshare business in Spain.The business runs bikeshare operations in major Spanish cities including Barcelona, Bilbao, Valladolid and Zaragoza and Lyft said it will continue its role as the technology and hardware provider for all of these programs.The transaction is not expected to have a material impact on Lyft's financial results, the company said.Financial terms were not disclosed.Price: $14.92, Change: $-0.52, Percent Change: -3.37%

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Wire

Lyft's Competitive Position Remains Stable Despite Growth Concerns, RBC Says

Lyft (LYFT) remains on "stable competitive footing" despite investor concerns about slowing US rides growth, RBC Capital Markets said in a report Wednesday, following a post-earnings discussion with Chief Financial Officer Erin Brewer.Investor concerns have centered on implied low-single-digit US rides growth after adjusting for contributions from Canada, Europe and the Freenow acquisition, though management expects ride acceleration in Q2, RBC said, adding that its management's focus remains on expanding bookings through international markets, partnerships and premium ride offerings rather than solely increasing ride volumes.New autonomous vehicle "entrants" have not had a noticeable negative effect on Lyft's growth and may instead be helping attract new riders to the "shared mobility" market, the report said.The firm also highlighted Lyft's partnership with Alphabet's (GOOG, GOOGL) Waymo in Nashville, Tennessee, as a key area of focus, with management aiming to demonstrate "strong execution" as Waymo's "fleet partner" before expanding the relationship further.RBC has an outperform rating on Lyft with a price target of $18.Price: $13.16, Change: $-0.02, Percent Change: -0.15%

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Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Lyft, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our price target at $16, 7.5x our 2027 EPS view ($2.12), below LYFT's three-year average (~14x) given ongoing margin pressure and the industry's shift toward autonomous rides, creating significant uncertainty. We lower our 2026 EPS view by $0.01 to $1.55 and lift 2027's by $0.18 to $2.12. Rides growth (8.5% Y/Y in Q1) has decelerated sharply from 16.4% in the prior-year period (including ~150 bps of weather-related headwinds), but gross bookings growth (+18.8% vs. +12.7% in Q1 2025) has continued to accelerate and was guided higher in Q2 (~19.5%), demonstrating LYFT's growing footprint in the premium space. While Q2's adjusted EBITDA margin guide (~3.15%, +30 bps Y/Y) also shows encouraging expansion after only ~10 bps of improvement in Q1, we still see margin pressures from elevated promotional costs and rising competition, with management's 2027 target of 4% continuing to look optimistic. We worry that additional capital investment in AVs will become a competitive necessity, pressuring cash flow.

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Wire

Lyft Seen Facing Competitive Pressures Even as Rides Rebound, RBC Says

Lyft (LYFT) may face continued investor concerns around organic growth and rising customer incentives, even as overall trip volumes are expected to accelerate through the year, RBC Capital Markets said Friday in a report.Spending on sales and marketing almost doubled from a year earlier, with rider incentives up 17%, signaling increasing competitive pressures, the report said.Still, RBC highlighted strong international expansion, including the acquisition of Gett's UK business, growth at FreeNow across nine European countries, and 50% ride growth in Canada.RBC lowered its price target on Lyft stock to $18 from $22 and maintained its outperform rating.Price: $14.22, Change: $+0.05, Percent Change: +0.39%

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Wire

RBC Cuts Price Target on Lyft to $18 From $22, Keeps Outperform Rating

Lyft (LYFT) has an average rating of overweight and mean price target of $19.78, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $14.44, Change: $+0.28, Percent Change: +1.94%

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Research

Research Alert: Lyft Posts In-line Results, Kpi Deceleration But Resilient Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:LYFT reported Q1 results near expectations, with revenue of $1.65B (+14% Y/Y) slightly above the consensus view ($1.63B) and GAAP EPS of $0.04 just missing expectations for $0.07. Adjusted EBITDA of $133M (+25% Y/Y) was near consensus ($131M), with margin expanding 10 bps Y/Y (-30 bps Q/Q) to 2.7% of gross bookings. Demand metrics remained strong but decelerated slightly, with gross bookings up 19% to $4.9B (flat with Q4's growth), Active Riders growing 17% to 28.3M (vs. Q4's +18%) and Rides decelerating to 8.5% growth from 11.4% in Q4, with management continuing to prioritize profitability over volume. Q2 guidance was encouraging, with gross bookings guided to $5.365B (+19.5% Y/Y) and adjusted EBITDA guided to ~$170M (+32% Y/Y), both representing modest acceleration. Partnerships remain a key growth driver, with 27% of North American rides in Q1 linked to partnerships and DoorDash-linked rides hitting a record high. Free cash flow of $287M significantly exceeded Street expectations ($130M).

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Wire

DoorDash, Lyft Expand Partnership Into Canada

DoorDash (DASH) and Lyft (LYFT) said Thursday they are expanding their partnership into Canada, enhancing the value of DashPass by introducing rideshare savings for members.DashPass is DoorDash's membership program designed to help customers save on everyday purchases, offering free delivery and reduced service fees on eligible orders.The expansion aims to transform DashPass into a broader lifestyle membership and help Lyft reach a new rider base, according to the statement.DashPass members can save on Lyft through upfront discounts on eligible rides, the statement added.Price: $169.50, Change: $+0.16, Percent Change: +0.10%

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