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☆ Uber to steal a march on Lyft in resurgent rideshare market
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +3 min

Feb 7 (Reuters) - Uber Technologies Inc's (UBER.N) revenue growth is set to outpace that of rival Lyft Inc (LYFT.O) as the rideshare firm's presence in major markets around the world gives it the heft to deal with inflationary pressures. Dara Khosrowshahi-led Uber operates in multiple regions and has over the years built a massive food and grocery delivery business, while Lyft has mainly focused on rideshare in the United States. "Lyft is on the losing end of Uber's mobility and delivery network effect ... in a world of increasing focus on profitability, Lyft does not deliver," MoffettNathanson analyst Michael Morton said. Analysts expect a fourth-quarter revenue increase of 19% for Lyft and 47% for Uber, according to Refinitiv data. "When we look at driver time spent data on a 2-year growth basis our concerns on Lyft losing market share are magnified ... we come away more concerned about Lyft's need to invest in incentives," UBS analyst Lloyd Walmsley said.

☆ Stocks making the biggest moves premarket: Tyson Foods, PayPal, Children's Place and more
▼ + stars: | 2023-02-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Tyson Foods – Shares of the food processing giant suffered a 6% drop in premarket trading after the company reported weaker-than-expected results for the first quarter. Analysts expected $1.34 per share in earnings and revenue of $13.52 billion, according to Refinitiv. PayPal — Shares of the payments company fell 2.6% in premarket after Raymond James downgraded the stock to market perform from outperform. Lyft — Shares of the ride-hailing company fell about 2% in premarket trading after Lyft was downgraded to hold from buy at research firm Gordon Haskett. Energizer Holdings — The battery maker's stock fell 6% after revenue and earnings for the recent quarter fell short of expectations, according to analysts surveyed by FactSet.

☆ KeyBanc upgrades Lyft, says stock can rally more than 50% as demand stabilizes
▼ + stars: | 2023-01-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Lyft shares could see big gains as the ride-share company cuts costs and sees demand stabilize, KeyBanc said. Analyst Justin Patterson upgraded the stock to overweight from sector weight. He also set a price target of $24, implying an upside of 55.7% over Monday's close. He also Lyft's cost-cutting actions including a 13% reduction in workforce in early November helped drive EBITDA upside. He said there's upside to current estimates due to money-saving initiatives and a recovery in the U.S. west coast market.

☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Target, AMD, Tesla, Coinbase, Amazon & more
▼ + stars: | 2023-01-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by it's overweight rating on Apple shares heading into earnings on Feb. 2. Bernstein reiterates Apple as market perform Bernstein said it's "ambivalent" about Apple shares heading into earnings next month. Bernstein downgrades Advanced Micro to market perform from outperform Bernstein said it's concerned about a deteriorating PC market. Morgan Stanley upgrades Marathon Oil to overweight from neutral Morgan Stanley said Marathon Oil has "peer-leading FCF and shareholder returns." Morgan Stanley reiterates Ford as overweight Morgan Stanley said it sees opportunity for Ford to "to exercise its self-help muscle."

Find the right card with Uber and Lyft perks Capital One Savor Cash Rewards Credit CardChase Sapphire Reserve®Ink Business Preferred® Credit CardCapital One SavorOne Cash Rewards Credit CardChase Sapphire Preferred® Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Note that credit card lenders may use many different variations of credit score models when considering your application. Annual fee: $95Other benefits: This is one of the best small-business cards on the market thanks to perks such as:Review: Ink Business Preferred credit card reviewCapital One SavorOne Cash Rewards Credit CardWhy use it for rideshares: The Capital One SavorOne Cash Rewards Credit Card card has Uber-related benefits that are identical to the Capital One Savor Cash Rewards Credit Card. Credit cards for Uber and Lyft frequently asked questions (FAQ)What is the best credit card for rideshare expenses? The best credit card for rideshare expenses isn't necessarily the best credit card for you.

☆ The Chase Sapphire Reserve now offers complimentary Lyft Pink All Access membership, with ride discounts, priority pickup, unlimited bike rides, and more
▼ + stars: | 2022-11-15 | by ( Tessa Campbell | Personal Finance Reviews Fellow | Read More | ) www.businessinsider.com time to read: +14 min

The Chase Sapphire Reserve just got a new Lyft Pink All Access benefit that can save cardholders a bunch of cash. Cardholders already earn 10x Chase Ultimate Rewards points on rideshares, scooters, and other Lyft transportation services (offer ends March 2025). But if that's not enticing enough of an offer for you, Sapphire Reserve cardholders are now getting two years of Lyft Pink All Access membership. If you frequently spend on Lyft and want to earn valuable Chase Ultimate Rewards® points, then activating the Lyft Pink All Access membership is a no-brainer. Having your Sapphire Reserve as your default payment method also means you'll earn 10x points on Lyft purchases.

☆ Investors dump Lyft on signs Uber is snatching market share
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] A sign marks a rendezvous location for Lyft and Uber users at San Diego State University in San Diego, California, U.S., May 13, 2020. REUTERS/Mike BlakeNov 8 (Reuters) - Lyft Inc (LYFT.O) shares sank 20% on Tuesday on signs that competition from bigger rival Uber (UBER.N) was stalling user growth and eating into the market share of the ride-hailing firm. When rideshare ground to a halt during lockdowns, long-time market leader Uber's delivery business had given it an edge over pureplay Lyft. read more"While we think Lyft will remain the second-largest ridehailing platform in the U.S., we are now assuming Uber will slightly increase its market share over Lyft during the next few years," Morningstar analyst Ali Mogharabi said. Lyft lost market share to Uber in the third quarter, disappointing investorsHowever, a cost-cutting drive should help ease some of the pressure and help boost Lyft's profitability, according to Daiwa Capital Markets analyst Jairam Nathan.

☆ Evercore ISI downgrades Lyft, recommends owning Uber shares instead
▼ + stars: | 2022-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Lyft 's latest earnings report underscores why Uber is the stock to own in the ongoing battle between the two ridesharing companies, according to Evercore ISI. To be sure, Lyft saw one of its strongest periods of active driver growth over the last year, Mahaney noted. That said, Lyft did lose some market share to Uber as the company rolled out temporary driver incentives. Looking ahead, Mahaney called Lyft's fourth-quarter outlook "soft," noting that he expects slower year-over-year revenue growth. Lyft shares have tumbled roughly 67% this year.

☆ Here are Tuesday's biggest analyst calls: Apple, Meta, Lyft, Nvidia, Roblox, Freshpet & more
▼ + stars: | 2022-11-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Tuesday: Deutsche Bank reiterates Roblox as buy Deutsche says it expects a strong earnings report for Roblox when the online gaming platform company releases results on Wednesday. Deutsche Bank upgrades Dave & Buster's to buy from hold Deutsche said in its upgrade of the stock that it sees a "compelling" risk/reward. Bank of America reiterates Meta as neutral Bank of America says it sees too many headwinds for Meta shares right now. Bank of America reiterates Nvidia as buy Bank of America says it's standing by shares of Nvidia heading into earnings next week. Deutsche Bank reiterates Electronic Arts as a top pick Deutsche says it's very bullish on the company's upcoming release slate. "

☆ Uber will dominate ride-sharing like Google does with search, Josh Brown says
▼ + stars: | 2022-11-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

The market action Tuesday in Uber Technologies is another reason to be bullish on the stock, according to Ritholtz Wealth Management CEO Josh Brown. Lyft's stock tumbled nearly 25% Tuesday after reporting worse-than-expected revenue for the third quarter and miss on active riders. "You almost never see these two trade apart from each other after reporting earnings," Brown said. "It's becoming apparent Uber is becoming the one company that's going to dominate this space, similar to what Google eventually was able to do in search." Last week, Uber reported a third-quarter loss but gave strong fourth-quarter guidance .

☆ Lyft shares plunge after dull revenue forecast, slowing rider growth
▼ + stars: | 2022-11-07 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

[1/2] The Lyft logo is seen on a parked Lyft Scooter in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid/File PhotoNov 7 (Reuters) - Ride-hailing firm Lyft Inc (LYFT.O) on Monday forecast current-quarter revenue below Wall Street estimates as user growth on its platform slows, losing out to bigger rival Uber Technologies Inc and sending its shares down 13%. But revenue per active rider increased 13.7% to $51.88, the highest growth compared to the prior two quarters. For the fourth quarter, the company expects revenue between $1.15 billion and $1.17 billion, while analysts expect $1.17 billion, according to Refinitiv IBES data. It forecast adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), a profitability metric keenly watched by investors, between $80 million and $100 million, compared with analysts' forecast of $84.5 million.

☆ Lyft shares plunge after revenue forecast disappoints
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Lyft logo is seen on a parked Lyft Scooter in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid/File PhotoNov 7 (Reuters) - Ride-hailing company Lyft Inc (LYFT.O) on Monday forecast current-quarter revenue slightly below Wall Street estimates, hurt by competition from Uber Technologies Inc , sending its shares down 13% in extended trading. But revenue per active rider increased 13.7% to $51.88, the highest growth compared to the prior two quarters. Lyft forecast current-quarter operating profit above Wall Street estimates, as it bets on demand for rideshare and cost cuts such as headcount reduction and closing office spaces. For the fourth quarter, the company expects revenue between $1.15 billion and $1.17 billion, while analysts expect $1.17 billion.

☆ Read part of the memo Lyft's cofounders sent to employees as the company begins laying off nearly 700 staffers
▼ + stars: | 2022-11-04 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +5 min

"Still, Lyft has to become leaner, which requires us to part with incredible team members." To help provide initial context, we want to share how we made this decision, how we're supporting departing team members, and what to expect over the coming days. Support for departing team membersWe understand the real impact this decision has on departing team members. Team members with 4+ years with Lyft will receive an additional four weeks of pay. Moving forwardOur priority today is taking care of departing team members, who for many of us are also friends.

Lyft confirmed its plans Thursday to lay off 13% of its workforce, equivalent to about 700 employees, as the broader downturn in once high-flying tech companies persists. An emerging trendStill, Lyft's announcement adds to the broader trend of hiring freezes and job cuts across the tech industry. Amazon announced Thursday it will pause hiring within its corporate workforce, citing the increasingly "uncertain" economy and the company's spate of new hires in recent years. The payments company Stripe announced Thursday it was cutting 14% of its workforce, equivalent to approximately 1,100 workers. The tech sector had come through a significant portion of the pandemic seeing roaring growth.

☆ Lyft to lay off 683 employees in cost-cutting push
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Lyft Inc (LYFT.O) said on Thursday it would lay off 13% of its workforce, or about 683 employees, in the ride-hailing firm's latest cost-cutting step to cope with a weakening economy. As decades-high inflation hits consumer spending and drives up costs for businesses, companies across sectors are cutting jobs and downsizing their operations to preserve profits. Lyft's latest move is expected to result in a charge of between $27 million and $32 million in the fourth quarter. The company, which is slated to report third-quarter results on Monday, said the layoffs would not have an impact on its previously issued forecast for the period. Reporting by Nivedita Balu and Akash Sriram in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Is the Uber, Lyft and gig economy battle over workers nearing its end game?
▼ + stars: | 2022-10-16 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

With federal regulators set to tighten Trump-era labor standards that let Uber and Lyft, as well as food-delivery services like Doordash, treat gig workers as independent contractors with few protections under labor law, shares dropped sharply last week. But while a shift, the Department of Labor proposal doesn't immediately transform gig workers into employees entitled to overtime pay, unemployment insurance and other benefits. "It seems like the start of a Game of Thrones battle between the Department of Labor and the gig economy,' Wedbush analyst Dan Ives said. Uber believes the Department of Labor is focused less on ridesharing and more on industries such as construction that also use gig workers, pointing out that the proposed rule doesn't single out rideshare drivers. Uber drivers also supply their own cars and gasoline, though the company in March added a per-trip fuel surcharge that goes directly to drivers.

☆ Gordon Haskett upgrades Lyft to a buy, says shares can more than double from here
▼ + stars: | 2022-10-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Gordon Haskett said the 74% pullback in Lyft shares this year creates an enticing entry point for investors looking for a bargain. Analyst Robert Mollins upgraded shares of the ridesharing stock to a buy rating with a $24 price target, noting that Lyft is trading at an attractive discount to Uber and shares can more than double from Tuesday's close. Along with the pullback in shares, Mollins highlighted several additional catalysts for the stock going forward, including continued improvement to driver supply — specifically in California. Compared to Lyft, Uber shares have slumped about 41% this year. Lyft said Tuesday the proposal has "no immediate or direct impact" on its business at this time.

☆ Here are Wednesday's biggest analyst calls of the day: AMC, Apple, Boeing, Amazon, Lyft, BJ's & more
▼ + stars: | 2022-10-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

UBS upgrades Norwegian to buy from hold UBS said it sees improved bookings for the cruise operator. Citi reiterates Apple as buy Citi said investor concerns about the company's upcoming earnings report later this month are overblown. " Credit Suisse initiates Boeing as underperform Credit Suisse said it's concerned Boeing has lost access to the China market. Bank of America reiterates Amazon as buy Bank of America said it still sees significant room for margin expansion for Amazon. Bank of America reiterates PayPal as buy Bank of America said PayPal is still a top pick and investors should buy the dip.

☆ Stocks making the biggest moves premarket: PepsiCo, Intel, Philips and more
▼ + stars: | 2022-10-12 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Intel (INTC) – Intel added 1% in premarket trading following a Bloomberg report that the chip maker was planning to cut thousands of jobs to deal with a slumping personal computer market. Philips (PHG) – Philips shares slumped 8.1% in the premarket after the Dutch health technology company said its third-quarter core profit would be down about 60% from a year ago. Diamondback Energy (FANG) – Diamondback Energy announced a deal to buy energy producer FireBird Energy for $1.6 billion in cash and stock. El Pollo Loco (LOCO) – El Pollo Loco shares rallied 15.2% in premarket action after the restaurant operator announced a $1.50 per share special dividend and a stock repurchase program worth up to $20 million. Lyft (LYFT) – Lyft gained 4.3% in the premarket after Gordon Haskett upgraded the stock to buy from hold.

☆ Lyft president still thinks driverless cars will dominate ride-share. He just won't say when
▼ + stars: | 2022-10-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — In 2016, Lyft co-founder John Zimmer predicted most of the company's rides would be self-driving within five years, a transformation that would largely eliminate the need for costly drivers. Today, the ride-hailing company is still nowhere near that milestone, and Zimmer, Lyft's president, isn't saying when he thinks it might come to pass. But he still believes self-driving vehicles remain a critical part of Lyft's future. Zimmer, acknowledging that he already got it wrong once, declined to speculate on when a majority of Lyft rides would be offered without a driver. "I'm extremely confident that autonomous vehicles will roll out on existing ride-share or transportation networks," he said.

☆ RBC downgrades Lyft, says it may be falling behind Uber
▼ + stars: | 2022-10-07 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Lyft may be falling behind competitor Uber, according to RBC Capital Markets. Analyst Brad Erickson downgraded shares of Lyft to sector perform from outperform, and slashed his price target, saying the ride hailing company appears to be struggling to gain an edge. RBC dropped the price target to $16 from $30. The new price target represents about 16.8% upside from where shares closed Thursday at $13.70. Shares of Lyft cratered — down roughly 68% in 2022, and 76% off its 52-week high — as investors pivoted away from growth names.

☆ Ride-hailing firm Lyft slams brakes on U.S. hiring as recession fears mount
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

As of June 30, Lyft had nearly 5,000 employees, according to its latest quarterly filing with the Securities and Exchange Commission. San Francisco, California-based Lyft said its costs jumped 36% in its most recent quarter. Lyft posted a record quarter in August on the back of soaring demand for rides and gains from its cost-cutting efforts. However, the company warned challenges would persist in the third quarter due to high insurance costs, macroeconomic uncertainty and inflation. read moreA broad sell-off in markets due to red-hot inflation and fears of a looming recession have crushed risky assets this year.

☆ How to Activate the Chase Sapphire Reserve Lyft Pink Benefit
▼ + stars: | 2020-01-14 | by ( Jt Genter | The Points Guy | ) www.businessinsider.com time to read: +6 min

When you are ready to use Lyft Pink, add your Chase Sapphire Reserve® as a payment option in the Lyft app, and you'll be given the option to activate. Keep reading to learn how to activate the Lyft Pink benefit on your Chase Sapphire Reserve®. When I go to the Lyft Pink website, Lyft will let me sign up for Lyft Pink using my Chase Sapphire Reserve®. Other benefits of the Lyft/ Sapphire Reserve partnershipWhether or not you activate Lyft Pink right away, the Chase Sapphire Reserve should become your go-to card for Lyft rides. Unlike the Lyft Pink benefit, the new DoorDash benefit doesn't require activation.

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