Wire
Uber Limits Staff Usage of AI Tools to Cut Costs, Bloomberg Reports
Uber Limits Staff Usage of AI Tools to Cut Costs, Bloomberg Reports
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57 stories mentioning UBER
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Wire
Market Chatter: Uber-Delivery Hero Deal Faces New Challenge as Prosus Considers Stake Increase
Uber Technologies (UBER) faces a new hurdle in its efforts to acquire Delivery Hero, as major shareholder Prosus is considering increasing its stake in the German food delivery group, the Financial Times reported Monday, citing people familiar with the matter.Prosus, formerly Delivery Hero's largest shareholder with a 27% stake, has been discussing with other investors the price at which they would be willing to sell their stakes. Prosus had agreed to cut its stake to "single digits" by August as part of a deal with EU antitrust authorities to buy Just Eat Takeaway, the report said.In an emailed reply to, the European Commission confirmed that, on Friday, it granted Prosus more time to reduce its stake following a request from Naspers, Prosus' parent company. "Naspers still has to fully comply with the commitments," it added.Prosus is now considering using the extension to temporarily increase its ownership in Delivery Hero, potentially to block a takeover by Uber or strengthen its negotiating position in any future deal. The Amsterdam-based group could also vote against an Uber bid, the report said, citing a person familiar with the matter.Delivery Hero declined to comment, and Uber and Prosus didn't immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $73.45, Change: $+3.05, Percent Change: +4.33%
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Mining & Metals
Happy Belly Food Up 13% as it Signs Multi-Year Exclusive National Partnership With Uber Eats Canada
Happy Belly Food Group (HBFG.CN) shares were last seen up 13% after it secured a multi-year, exclusive national agreement with Uber Eats, Uber Technologies (UBER) food delivery platform, it said on Wednesday.This partnership establishes Uber Eats as Happy Belly's exclusive third-party delivery marketplace partner."Partnering with Uber Eats, a world-class delivery platform allows us to leverage national-account scale in a way that directly benefits our franchisees and corporate locations," said Happy Belly Chief Executive Sean Black. "This agreement strengthens service levels through dedicated national account support, improves unit economics through competitive terms, and helps us execute with greater operational discipline as our footprint expands."Shares of the company were last seen up $0.18 at $1.53 on the Canadian Securities Exchange.Price: $1.52, Change: $+0.17, Percent Change: +12.59%
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Wire
Market Chatter: Uber Boosts Stake in Delivery Hero to 36.83% After Takeover Offer
Uber Technologies (UBER) bought out Aspex Management's shares of Delivery Hero, boosting its stake in the company to 36.83% as it negotiates to buy the food-delivery platform, Bloomberg reported Wednesday, citing a Delivery Hero regulatory filing.Uber's voting rights attached to shares increased to 24.99%, below a threshold that could trigger a mandatory offer, with the remainder of the stake in instruments, the report said, citing the filing. Uber paid just under 40 euros ($46.5) per share, the report said, citing people familiar with the matter.On Saturday, Delivery Hero confirmed approach by Uber with respect to a potential takeover offer.Uber didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $70.74, Change: $+0.62, Percent Change: +0.88%
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Wire
Uber Boosts Stake in Delivery Hero to 36.83% After Takeover Offer, Bloomberg Reports
Uber Boosts Stake in Delivery Hero to 36.83% After Takeover Offer, Bloomberg Reports
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Sectors
Sector Update: Consumer Stocks Advance Late Afternoon
Consumer stocks rose late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) adding 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.4%.In sector news, US consumer sentiment declined to a fresh record low in May as people fear that high gasoline prices could erode their purchasing power, University of Michigan said Friday. The main sentiment index tumbled 10% to 44.8 from last month. The consensus in a Bloomberg-compiled poll was for May's print to stay unchanged from a preliminary 48.2 estimate.In corporate news, Ross Stores (ROST) shares climbed 8% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal Q1 results.Imax (IMAX) shares jumped past 14% after The Wall Street Journal reported the company is exploring a sale and has approached entertainment companies as potential buyers.Estee Lauder (EL) shares rose nearly 12% after the cosmetics company and Puig said late Thursday they have ended discussions over a potential merger.Uber (UBER) is evaluating options for a complete buyout of Delivery Hero, Bloomberg reported. Uber shares were down 2.4%.
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Sectors
Sector Update: Consumer
Consumer stocks advanced late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.6%.In corporate news, Uber (UBER) is evaluating options for a complete buyout of Delivery Hero, Bloomberg reported. Uber shares were down 2.3%.
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Wire
Market Chatter: Uber Technologies Weighing Full Buyout of Delivery Hero
Uber Technologies (UBER) is evaluating options for a complete buyout of Delivery Hero, Bloomberg reported Friday, citing sources familiar with the matter.The ride-sharing firm is partnering with financial consultants to explore expanding its ownership after recently increasing its position in the Frankfurt-traded entity, while also contacting other stakeholders regarding potential interest, the media outlet reported.Delivery Hero said Monday Uber has acquired additional shares and instruments, and now owns 19.5% of the issued capital, with a further 5.6% in options. Morgan Stanley (MS) has helped Uber to build its stake using derivatives, according to the report.Uber mentioned this week that it does not intend to increase its ownership to 30% or higher at this time, but reviews its portfolios routinely for favorable opportunities, Bloomberg reported.Uber, Delivery Hero, and Morgan Stanley did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $72.63, Change: $-0.98, Percent Change: -1.33%
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Wire
Street Color: Uber Mulls Options to Acquire Full Stake in Delivery Hero, Bloomberg Reports
Street Color: Uber Mulls Options to Acquire Full Stake in Delivery Hero, Bloomberg Reports
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Wire
Uber Acquires Additional Shares in Delivery Hero
Uber Technologies (UBER) has acquired additional shares and instruments in Delivery Hero, and now owns 19.5% of the Berlin-based delivery platform's issued capital, with a further 5.6% in options, Delivery Hero said Monday in a statement.Delivery Hero said it sees Uber's additional investment as an endorsement of its platform and Everyday App strategy.Uber did not immediately respond to a request for comment from.Price: $74.64, Change: $-0.45, Percent Change: -0.60%
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Wire
NHTSA Opens Probe Into Uber Partner Avride
The National Highway Traffic Safety Administration said it has opened an investigation into Avride after the agency received several reports of crashes involving automated vehicles equipped with the Avride automated driving system.The NHTSA's Office of Defects Investigation said each crash involved "the competence of" Avride's ADS system, the report said.Avride has partnered with Uber Technologies (UBER) in the past, TechCrunch said in a report."Avride is aware of the preliminary evaluation opened by NHTSA. We welcome the opportunity to provide the agency with a deeper understanding of our safety protocols and technology," the company said in an email to. "We look forward to a constructive dialogue that supports the continued progress of the autonomous vehicle industry."Price: $75.33, Change: $-1.40, Percent Change: -1.82%
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Wire
Uber Partner Avride Under NHTSA Investigation, TechCrunch Reports
Uber Partner Avride Under NHTSA Investigation, TechCrunch Reports
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Wire
Uber, Ulta Beauty Collaborate to Add 1,500 Stores to Uber Eats Marketplace
Uber Technologies (UBER) and Ulta Beauty (ULTA) said Thursday that over 1,500 Ulta Beauty stores have been added to the Uber Eats marketplace, allowing customers to order beauty products for same-day delivery through the app.The partnership expands Uber Eats' beauty and retail offerings by giving consumers access to products from more than 600 brands across Ulta Beauty's assortment, ranging from everyday essentials to prestige beauty items, the companies said.Price: $77.97, Change: $-1.21, Percent Change: -1.52%
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Research
Research Alert: CFRA Maintains Strong Buy Rating On Shares Of Uber Technologies, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target by $8 to $108, based on 24x our 2027 EPS estimate, below UBER's three-year average of ~30x given regulatory risks and AV competition. We raise our 2026 EPS by $0.10 to $3.41 and 2027's by $0.31 to $4.49. Q1 results came in near expectations, an encouraging result given Q4's EPS underperformance. We like the record segment margins for both Delivery (3.7%) and Mobility (7.7%) along with continued 20%+ gross bookings results for both groups, with Uber One memberships (+50% to 50M) now contributing roughly half of total company bookings and likely to keep growing, supporting sustained momentum. We are also encouraged by management's continued commitment to a capital-light AV strategy and intention to loop in more third-party financing partners over time (highlighted by yesterday's EUR1 billion agreement with Santander in Europe), which we think provides compelling upside (higher margins and uptime) with limited risk. Uber's AV Mobility trips rose by more than 10x Y/Y, which we find impressive.
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Sectors
Sector Update: Consumer Stocks Rise Late Afternoon
Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.8%.In corporate news, Uber (UBER) on Wednesday issued a bookings growth outlook that surpassed Wall Street's estimates, while the ride-hailing company's Q1 profit grew year-on-year. Uber shares popped 9.5%.Walt Disney's (DIS) fiscal Q2 results came in ahead of market estimates amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in H2. Its shares climbed past 7%.Sony Group's (SONY) Sony Music is nearing a deal to acquire a music catalog including works by artists such as Justin Bieber and Neil Young from Blackstone (BX), Bloomberg reported. Sony is in discussions to acquire Recognition Music through a joint venture with Singaporean sovereign wealth fund GIC, which will pay from $3.5 billion to $4 billion, the report said. Sony Group shares added 3%.Restaurant Brands International's (QSR) Q1 earnings and revenue topped Wall Street's estimates Wednesday, while the restaurant operator's comparable sales growth was in line with consensus. Its shares were down 5%.
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Wire
Truist Securities Raises Uber Technologies Price Target to $112 From $108
Uber Technologies (UBER) has an average rating of buy and mean price target of $105.25, 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://www..com/contact-us)Price: $78.91, Change: $+5.96, Percent Change: +8.17%
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Sectors
Sector Update: Consumer Stocks Mixed in Afternoon Trading
Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.5%.In corporate news, Walt Disney's (DIS) fiscal Q2 results came in ahead of market estimates amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in H2. Its shares climbed 6.6%.Uber (UBER) on Wednesday issued a bookings growth outlook that surpassed Wall Street's estimates, while the ride-hailing company's Q1 profit grew year-on-year. Uber shares popped 7.5%.Sony Group's (SONY) Sony Music is nearing a deal to acquire a music catalog including works by artists such as Justin Bieber and Neil Young from Blackstone (BX), Bloomberg reported. Sony is in discussions to acquire Recognition Music through a joint venture with Singaporean sovereign wealth fund GIC, which will pay from $3.5 billion to $4 billion, the report said. Sony Group shares added 2.9%.
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Wire
Top Midday Stories: AMD Q1 Earnings, Q2 Guidance Top Estimates; Nvidia, Corning Enter Multiyear Commercial and Technology Partnership
All three major US stock indexes were up over 1% in late-morning trading Wednesday, as investors showed optimism that the US and Iran were nearing an agreement to end the war.In company news, Advanced Micro Devices (AMD) reported Q1 adjusted earnings late Tuesday of $1.37 per diluted share, up from $0.96 a year earlier and above the FactSet consensus analyst estimate of $1.29. First-quarter revenue was $10.25 billion, up from $7.44 billion a year ago and above the FactSet consensus of $9.90 billion. For Q2, the company said it expects revenue of $11.2 billion, plus or minus $300 million, above the FactSet consensus of $10.54 billion. AMD shares were up 17.7% around midday.Nvidia (NVDA) and Corning (GLW) said Wednesday they have entered a multiyear commercial and technology partnership to expand US manufacturing of advanced optical connectivity technology to power AI infrastructure. Under the partnership, Corning will increase its US-based optical technology production capacity by 10x and expand its US fiber production capacity by over 50%, the companies said. In connection with the partnership, Corning said Wednesday in an SEC filing that it sold a warrant to Nvidia to buy up to 15 million shares of its common stock at an exercise price of $180.00 per share. Nvidia also acquired a pre-funded warrant to buy up to 3 million shares of common stock at an exercise price of $0.0001 per share, for an aggregate purchase price of $500 million, Corning said. Nvidia shares were up 5.2%, while Corning shares were up 13.8%.Uber Technologies (UBER) reported Q1 non-GAAP earnings Wednesday of $0.72 per share, up from $0.50 a year earlier and above the FactSet consensus of $0.69. First-quarter revenue was $13.2 billion, up from $11.53 billion a year ago and compared to the FactSet consensus of $13.28 billion. For Q2, Uber said it expects non-GAAP EPS of $0.78 to $0.82, compared to the FactSet consensus of $0.79. The company said it expects Q2 gross bookings of $56.25 billion to $57.75 billion, above the FactSet consensus of $56.17 billion. Uber shares were up 8.2%.Walt Disney (DIS) reported fiscal Q2 adjusted earnings Wednesday of $1.57 per diluted share, up from $1.45 a year earlier and above the FactSet consensus estimate of $1.49. Fiscal Q2 revenue was $25.17 billion, up from $23.62 billion a year ago and above the FactSet consensus of $24.87 billion. For fiscal 2026, the company said it expects adjusted EPS growth of about 12%, excluding the impact of the 53rd week. Disney shares were up more than 6%.IBM (IBM) said Wednesday it is working with Oracle (ORCL) to bring the power of its watsonx to Oracle Cloud Infrastructure, or OCI, in hopes of fueling "multi-agentic, AI-driven productivity and efficiency across the enterprise." Watsonx Orchestrate Ai agent offerings will be available on OCI in July, the company said. IBM shares were down 0.9%, while Oracle shares were up 1.9%.Price: $416.71, Change: $+61.45, Percent Change: +17.30%
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Wire
Lucid Shares to Remain Under Pressure Until New CEO Reviews Outlook, Morgan Stanley Says
Lucid (LCID) shares are expected to remain under pressure until incoming Chief Executive Officer Silvio Napoli has had time to evaluate the business and its outlook, Morgan Stanley said in a note Wednesday.The company suspended its delivery and capex guidance for the year after a "challenging" Q1, with management reporting $781 million adjusted earnings before interest, taxes, depreciation and amortization loss, according to the note.Morgan Stanley said it expects the losses to remain elevated until the planned 2027 launch of a midsize vehicle. To fund its losses, Lucid has announced a total of $1.05 billion capital raise from Saudi Arabia's Public Investment Fund, Uber (UBER), and a registered public offering, among others, the investment firm said.Morgan Stanley lowered its 2026 EBITDA estimate by 15%, reflecting lower gross margins given recent underperformance as well as higher operating expenses on account of recent workforce reduction charges. The firm also said it continues to expect 26,000 deliveries versus consensus of 25,000 for the year.Morgan Stanley cut its price target on the stock to $5 from $10, while maintaining its underweight rating.Price: $5.90, Change: $-0.35, Percent Change: -5.65%
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US Markets
Uber Issues Upbeat Bookings Outlook as First-Quarter Earnings Rise
Uber Technologies (UBER) on Wednesday issued a bookings growth outlook that surpassed Wall Street's estimates, while the ride-hailing company's first-quarter profit grew year-on-year.The company expects bookings of $56.25 billion to $57.75 billion for the current quarter, implying an increase of 18% to 22% year over year on a constant currency basis. Analysts in a FactSet survey were looking for gross bookings of $56.17 billion.Uber expects non-GAAP earnings of $0.78 to $0.82 per share for the second quarter, representing growth of 31% to 38%. The FactSet-polled consensus indicates $0.79.The company's first-quarter adjusted EPS rose to $0.72 from $0.50 a year earlier, compared with the Street's $0.69 estimate. Bookings gained 25% to $53.72 billion, exceeding the consensus estimate of $52.8 billion."We are off to an exceptional start to 2026, with gross bookings growth exceeding 21% for the third consecutive quarter and earnings scaling at more than twice our topline," Chief Financial Officer Balaji Krishnamurthy said in a statement.Shares of Uber were up 8.6% in Wednesday trade. The stock is down 3% so far this year.Mobility bookings accelerated to 28%, while delivery grew 23%, led by grocery and retail, Chief Executive Dara Khosrowshahi said during an earnings call, according to a FactSet transcript. Freight bookings returned to growth for the first time in nearly two years, he said.Trips in the first quarter increased 20%, while monthly active platform consumers grew 17%, the company said. Revenue jumped 14% on reported basis and 10% on a constant currency basis to $13.20 billion, comparted with analysts' $13.28 billion view.Price: $76.91, Change: $+3.96, Percent Change: +5.42%
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