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☆ Why Bicycle Deaths in New York City Are at a 23-Year High
▼ + stars: | 2024-03-05 | by ( Keith Collins | ) www.nytimes.com time to read: +1 min

Historically, most people who have died riding bicycles in New York City were killed in collisions with cars and trucks on streets that did not have bike lanes, and that was the case last year as well. According to a New York Times analysis of preliminary police reports about the 30 deaths, most of the cyclists who died in 2023 collided with automobiles in areas without bike infrastructure, regardless of the type of bike they were riding. The rise in electric bike deaths does not appear to be the result of an increase in e-bike ridership, at least not entirely, according to the Department of Transportation. And although the most visible e-bike users in New York may be delivery workers and Citi Bike riders, the majority of people who died on e-bikes last year were neither. Only one delivery worker died from an e-bike crash, according to the department, and four people died using electric Citi Bikes, according to Lyft, which owns the bike share program.

Organizations: New York Times, Department of Transportation, Citi Locations: New York City, New York

Companies with upcoming IPOs can offer directed share programs to qualifying groups of retail investors to buy IPO stock. Rather than buying shares through a broker, a directed share program allows investors to buy IPO stock directly from the company. AdvertisementCompanies may offer a directed share program to employees, vendors, or, in Reddit's case, loyal users and moderators. The risk involved with directed share programsOne of the risks associated with directed share programs is that a DSP may harm the company's IPO by causing the IPO value to inflate. How to participate in Reddit's directed share programReddit began rolling out directed share program pre-registration invitations to certain users and moderators on February 22, 2024.

Persons: you'll, Reddit, Redditors, Insider's, Will McDonough, McDonough, Airbnb, Uber, —, there's, Reddit's Organizations: Companies, Corestone, New York Stock Exchange, Reddit, IPOs, DSP Locations: IPOs

On a more positive note, Guggenheim upgraded GSK to buy thanks to strength across multiple product pipelines. Elsewhere, RBC upgraded Lyft to outperform, calling for a major rally ahead. Analyst Brad Erickson upgraded Lyft shares to outperform from sector perform, and raised his price target by $6 to $23, implying roughly 40.7% potential increase. — Pia Singh 6:10 a.m.: DoorDash upgraded by RBC on new partnerships potential, higher order growth RBC Capital Markets upgraded DoorDash to outperform from sector perform. Analyst Seamus Fernandez upgraded shares to buy from neutral and assigned a £20.31 price target, representing 21% upside to GSK's latest close.

Persons: Guggenheim, Wells Fargo, Timur Braziler, Braziler, — Pia Singh, Lyft, Brad Erickson, Erickson, Seamus Fernandez, Fernandez, Citi downgrades Ferrari, Ferrari, Harald Hendrikse, Fred Imbert Organizations: CNBC, Citi, Ferrari, GSK, RBC, Popular, RBC Capital Markets RBC Capital Markets, DASH, Capital Markets, Guggenheim Securities, drugmaker GSK, Guggenheim Locations: Wells Fargo, Puerto Rico, U.S, Wells, Shingrix, Arexvy, Milan

☆ Stocks making the biggest moves premarket: Super Micro Computer, Deckers Outdoor, Macy's and more
▼ + stars: | 2024-03-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — Shares of Super Micro Computer and Deckers Outdoor jumped 12% and 5%, respectively, after S & P Dow Jones Indices said Friday the two companies would be added to the S & P 500 later this month. They will replace Whirlpool and Zion Bancorp, which will move to the S & P MidCap 400 index as of the March 18 open. Macy's — Macy's stock skyrocketed nearly 17% after Arkhouse Management upped its buyout offer for the department store chain to $24 from $21 a share, or about $6.6 billion. Crypto stocks – Companies whose performance is tied to the price of bitcoin rose in premarket trading after the cryptocurrency touched another two-year high . Spirit AeroSystems , Boeing — Shares of the fuselage maker rose nearly 3%.

Persons: Dow, CleanSpark, AeroSystems, Lyft, Morgan Stanley, Li Auto, Piper Sandler, Brian Mullan, — CNBC's Lisa Han, Fred Imbert, Tanaya, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: Micro Computer, Dow Jones, Whirlpool, Zion Bancorp, Arkhouse Management, Apple, European Commission, Marathon, Iris Energy, RBC, Boeing —, Boeing, Max, —, Citi, Li Auto, Li, Mobile

☆ RBC upgrades Lyft and DoorDash
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC upgrades Lyft and DoorDashBrad Erickson, RBC Capital Markets internet equity analyst, joins 'Money Movers' to discuss the firm's recent upgrade of DoorDash and Lyft, if either of the named stocks can experience a rise similar to Uber, and much more.

Persons: Brad Erickson Organizations: RBC, RBC Capital Markets

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Super Micro, Eli Lilly, Lyft, DoorDash, Disney & more
▼ + stars: | 2024-03-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

UBS upgrades Norfolk Southern to buy from neutral UBS said it sees margin improvement for the railroad. Goldman Sachs initiates Super Micro as neutral Goldman said the stock is an "AI winner" but that valuation is full right now. UBS reiterates Eli Lilly as buy UBS raised its price target on the stock to $910 per share from $810. UBS reiterates Nvidia as buy UBS said it's sticking with its buy rating after a series of investor meetings with the company." Argus upgrades New York Times to buy from neutral Argus said it sees revenue growth for the newspaper company. "

Persons: Morgan Stanley, Disney, Piper Sandler, Piper, Guggenheim, Baird, SQSP, Goldman Sachs, Goldman, Bernstein, Tesla, underperform Bernstein, Eli Lilly, Wells, Melius, Citi downgrades Ferrari, Jefferies, Evercore, it's, Rosenblatt, Snowflake, Slootman's Organizations: BROS, Guggenheim, GSK, UBS, Norfolk Southern, Micro, JPMorgan, Nvidia, Kyverna Therapeutics, FLT, UDR, Conservative, America Health, RBC, Apple, Citi, Ferrari, Jefferies, BP, Barclays, Barclays downgrades, ISI, Toast Inc, Bank of America, Ball Corp, of America, Broadcom, New York Times Locations: Norfolk, China, New

☆ Stocks making the biggest moves midday: Macy's, Super Micro Computer, Lyft, DoorDash and more
▼ + stars: | 2024-03-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — The technology firm and athletic footwear designer respectively popped 27% and nearly 3% after S & P Dow Jones Indices announced Friday that the two stocks would be added to the S & P 500 on March 18. Super Micro Computer and Deckers Outdoor will replace Zions Bancorpation and Whirlpool , which will move to the S & P MidCap 400 Index. Macy's — Shares skyrocketed 16% after Arkhouse Management said it and Brigade Capital Management have raised their offer for the department store . DoorDash — Shares jumped more than 5% after RBC upgraded the food delivery company to outperform from sector perform. Lyft — The ride-sharing platform added 6% after RBC upgraded the stock to an outperform rating from sector perform.

Persons: Dow, Zions, —, Lyft, Morgan Stanley, Li, Piper Sandler, Ford, CNBC's Michelle Fox, Alexander Harring, Hakyung Kim, Tanaya Macheel, Yun Li, Jesse Pound, Samantha Subin Organizations: Micro Computer, Dow Jones, Whirlpool, Arkhouse Management, Brigade Capital Management, Apple, European, Miners, Marathon Digital, Cipher Mining, Iris Energy, RBC, Kyverna Therapeutics, Wells, JPMorgan, Ferrari —, Citi, Li Auto, Dutch Bros, American Airlines —, Max Locations: Wells Fargo

☆ Opinion: Why ‘My Way’ won’t go away
▼ + stars: | 2024-03-03 | by ( Richard Galant | ) edition.cnn.com time to read: +17 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. “That is the way he spoke,” Anka told Ed Masley of the Arizona Republic. It may not go his way, but the failure of Congress to approve more aid to Ukraine likely is giving Putin hope. Whether Congress chooses to provide the continued financial support Ukraine, Israel and Taiwan desperately need will go a long way toward answering this question. “If Biden wants to improve his standing with voters,” wrote Jon Gabriel, “a Brownsville photo won’t cut it.

Persons: CNN — “, ”, Frank Sinatra, “, Alexey Navalny, Paul Anka, Sinatra, …, Anka, ” Anka, Ed Masley, Vladimir Putin, Donald Trump, Melania Trump, Odessa Rae, Trump, Joe Biden, Jack Smith, Mitch McConnell, McConnell, Julian Zelizer, Putin, Emmanuel Macron, Mark T, Esper, Russia resurges, ” Esper, Nick Anderson, Dahlia Lithwick, Steve Vladeck, Walt Handlesman, Biden, Nikki Haley, “ Biden, specter, ” David Axelrod, Haley, ” Dana Summers, Joe Biden John Halpin, Sophia Nelson, Catherine Russell, Russell, Ofri Bibas Levy, Yarden, Kibbutz Nir, Shiri Bibas, Ariel, ” Levy, Shiri, Kfir, Frida Ghitis, Drew Sheneman, Roe, ” Cupp, Katie Britt, Elena Sheppard, I’d, Betsy Ross, ” Sheppard, Dorothea Dix, Lucy Delaney, Elizabeth Cady Stanton, Sheppard, Kristen Kelly, Serene Williams, Clay Jones, Jon Gabriel, Gabriel, Eric Adams, Laken Riley, Raul A, Reyes, ” Don’t, David Horsey, Agency Van Jones, Ariel Dorfman, Dean Obeidallah, Shane Gillis, Noah Berlatsky, —, Kellie Carter Jackson, Lev Golinkin, Josephine Apraku, Germany Jill Filipovic, Jodie Turner, Smith, Michael Bociurkiw, Anna Arutunyan, Kirk Tanner, Jeff Yang, ” Wendy’s, ” Yang Organizations: CNN, FBI, Liberty Ball, Russia ”, Twitter, Capitol, Republicans, Senate, GOP, Trump, Republican Party, West, Tribune Content Agency Trump, Michigan Trump, Democratic, Agency, Tribune Content Agency, UNICEF, Hamas, CNN Republicans, Union, Biden, New York City, Immigration, Customs Enforcement, University of Georgia, Congressional, Stanford Locations: Moscow, Miami, Arizona Republic, Russian, Russia, Odessa, Ukraine, Michigan, “, United States, Israel, Taiwan, Washington ,, Gaza, Tribune Content Agency Gaza, Rafah, ”, Alabama, Biden’s State, Brownsville, New York, Venezuela, Germany

☆ Jim Cramer: Why a successful Reddit IPO would be bad news for this bull market
▼ + stars: | 2024-03-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +14 min

There's nothing like a moribund IPO market to create a pleasant backdrop for a bull run. Hot on the heels of the Reddit deal is the expiration of the IPO lockup period for Arm Holdings on March 12. I thought it might occur after the successful Arm deal, but like so many nascent attempts to revive the IPO market there was nothing worth following up with until the Reddit deal. This brings me back to the IPO market. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: We've, It's, Reddit, Sam Altman, Conde Nast, Rene Haas, Steve Huffman, Reddit's, —, isn't, Morgan Stanley, Goldman Sachs, Uber, Jim Cramer's, Jim Cramer, Jim, Mateusz Slodkowski Organizations: Advance Magazine Publishers, Arm Holdings, Company, Nvidia, Employees, GameStop, Supply, Amazon, Walmart, Securities and Exchange Commission, Investors, Fidelity, ICE, Costco, Rite Aid, Tech, Microsoft, Meta, Federal Trade Commission, White House, Jim Cramer's Charitable, CNBC, Getty Locations: British, TheStreet.com, Reddit, POLAND

☆ Wendy’s says it won’t use surge pricing
▼ + stars: | 2024-02-28 | by ( John Towfighi | ) edition.cnn.com time to read: +5 min

It was never our plan to raise prices when customers are visiting us the most.”But the questions over what to call Wendy’s experiment – surge pricing? Dynamic pricing? Surge pricing refers to dynamic pricing, which is a way for businesses to charge more (or less) based on how many people want their products at any given time. “Surge pricing sent the message to everybody that this is mostly about increasing prices. “After considerable public pushback, Wendy’s is now framing their dynamic pricing strategy as discounts during off-peak times instead of surge pricing during peak times,” she wrote.

Persons: CNN —, Wendy’s, ”, Juan Castillo, Castillo, Chuck Bell, Uber, Mario Tama, ” Bell, ” Castillo, Jonathan Maze, ” Maze, Lindsay Owens, “ Organizations: CNN, University of Pennsylvania, “, Consumer, Los Angeles International Airport, Ticketmaster Locations: Los Angeles , California

☆ Wendy's New Dynamic Pricing Plan Isn't As Crazy As It Sounds
▼ + stars: | 2024-02-28 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

Knee-jerk reaction and poor messaging aside, dynamic pricing isn't really novel and may actually make some sense. Platforms such as Ticketmaster often use dynamic pricing models for concerts and sporting events. While dynamic pricing may have a long history and other fast-food chains may be watching with interest, Wendy's may have doomed its own experiment. AdvertisementWhen people think of dynamic pricing, they think of Uber and airlines. "When people think of dynamic pricing, they think of Uber and airlines.

Persons: Wendy's, it's, Kirk Tanner, aren't, John Shearer, Sean Dunlop, Jonathan Maze, Uber, they're, Dunlop, what's, doesn't, —, Biggie, Emily Stewart Organizations: Ticketmaster, Morningstar, Business, CNN, Wendy's Locations: —

☆ Wendy's is going to start surge-pricing burgers, fries, and more
▼ + stars: | 2024-02-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

Wendy's will start surge pricing menu items as early as 2025 as it rolls out digital menus. Similar to the way Uber and Lyft works, menu items will vary in price depending on demand. That's because Wendy's is going to start surge pricing its menu items by 2025 as it rolls out digital menus, according to its fourth-quarter earnings call. Similar to pricing models at Uber and Lyft, Wendy's menu items will fluctuate in price depending on demand during the time that you order. But with surge pricing in place, that might increase if you order it at 6 p.m. during an evening rush.

Persons: Wendy's, —, Kirk Tanner, Tanner Organizations: Service, BI Locations: Wendy's

☆ A single mom who drives for Uber Eats and Amazon Flex said she sometimes works 16 to 18 hours a day to provide for her kids
▼ + stars: | 2024-02-22 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Starla, a single mother, is struggling to make ends meet driving for Uber Eats and Amazon Flex. Gig driving is a popular income source for single parents, but earnings are inconsistent and often low. AdvertisementStarla, 27, sometimes has to drive 16 hours a day for Uber Eats to make ends meet as a single mother raising an eight-year-old in Jacksonville, Florida. It’s super discouraging, but you have to do what you have to do.”Driving for Uber Eats and Amazon FlexStarla began driving for Uber Eats and Amazon Flex two years ago. She couldn’t immediately find another job, so she tried to figure out some strategies to make gig driving work for her.

Persons: Uber, Starla, —, she’s, ” Starla, Lyft, “, ’ ” Starla, couldn’t, “ Uber, ”, ’ it’s, She’s, “ I’m Organizations: Service, Business, Flex, ”, Walmart Locations: Jacksonville , Florida

☆ A Wisconsin Uber driver explains why the most profitable time to work is when 'you don't want to drive'
▼ + stars: | 2024-02-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A Wisconsin Uber driver said working inconvenient hours gives him the best chance to make money. AdvertisementFor Ken Morris, an Uber driver based in Green Bay, Wisconsin, embracing unideal working hours is the best way to make money as a ride-hailing driver . “If you don’t want to drive, that’s probably when you should be driving,” Morris, 49, told Business Insider via email. In 2022, he took home roughly $14,000 as an Uber ride-hailing driver — about $1.1 per online mile driven — according to a document viewed by BI. These income figures include tips and bonuses and don’t account for driving expenses like gas, maintenance, and depreciation.

Persons: Uber, —, Ken Morris, ” Morris, Morris, he’s, it’s, I’ve, haven’t, Lyft, Tipping, ”, Morris wasn't, he’d, Gridwise, it's Organizations: Service, Uber, BI, “ Locations: Wisconsin, Green Bay , Wisconsin

☆ EV boat maker Arc debuts a premium wake sport model for $258,000
▼ + stars: | 2024-02-21 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Arc Boat Company's fully electric Arc Sport model gets four to six hours of typical use on a single charge. Arc Boat Company began sales of its second electric boat model in just three years this week. The new $258,000 Arc Sport was designed for wake sports enthusiasts and follows the company's earlier Arc One, a limited-edition luxury cruiser. The 23-foot Arc Sport can carry up to 15 people at a time. Arc plans to begin deliveries of its new battery electric Arc Sport to customers this year.

Persons: Mitch Lee, Ryan Cook, Arc, Kevin Durant, Klay Thompson, Will Smith, Andreessen Horowitz, Lee, Rivian Organizations: Boat Company, GM, Sacramento –, SpaceX, EV, Eclipse Ventures, Menlo Ventures Locations: Malibu, Stockholm, Sacramento – San Joaquin, Stockton , California, Lyft, Brunswick, MarineMax

☆ The average Uber and Uber Eats driver saw their earnings decline over 15% in 2023, per Gridwise
▼ + stars: | 2024-02-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

Over the past year, Uber drivers have told Business Insider that it’s gotten harder to make money . Gridwise told BI these earnings reflected the amount drivers took home after Uber took its cut of drivers' gross earnings. The average Uber driver’s earnings before expenses declined from $29 an hour in 2022 to $25 in 2023. Meanwhile, the average Uber Eats driver’s earnings fell from roughly $20 to $18 an hour before expenses — the average driver worked 27 hours a month. While Uber drivers saw the largest year-over-year decline in monthly pay, the average driver’s $25 an-hour earnings before expenses were still higher than any other gig.

Persons: Gridwise, Uber, it’s, haven’t, Lyft Organizations: Business, Bureau of Labor Statistics

☆ Over 500,000 workers went on strike in 2023 — double from last year
▼ + stars: | 2024-02-15 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

The report finds that, in 2023, there were 470 work stoppages — 466 of which were strikes. In total, around 539,000 workers were involved in work stoppages last year. And while most work stoppages involved workers in unions, around a fifth were actually helmed by nonunion workers — meaning they had less protection than their unionized counterparts. A common misperception around strike activity, he said, is that union leaders are pushing workers to go on strike when they don’t want to. “Unions are more willing to use the strike weapon after it being pretty quiet for quite a while,” Colvin said.

Persons: uptick, ” Alex Colvin, —, Colvin chalks, ”, Colvin, Shawn Fain, that's, ” Colvin, they're, Uber, “ Organizations: Service, UAW, Labor, School of Industrial and Labor Relations, Cornell University, Employment Relations School, University of Illinois, Business, Kaiser Permanente, Los Angeles, Cornell, SAG, of Labor Statistics, — Locations: Hollywood

☆ People really don't want to tip their Uber and Lyft drivers
▼ + stars: | 2024-02-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

While nearly 90% of food delivery trips get tips, less than a third of Uber and Lyft trips get tips. That’s according to a new study of over 500,000 US gig drivers from Gridwise , a data analytics company and app that helps drivers track their earnings. The study found that nearly 90% of food delivery trips get a customer tip, compared to 75% of grocery delivery trips and 28% of Uber and Lyft ride-hailing trips. AdvertisementOne explanation for why Americans are more likely to tip food delivery drivers over ride-hailing drivers is that many tip them when their order is placed. In comparison, customers generally tip their Uber and Lyft drivers during or after a ride is completed.

Persons: —, Gridwise, Uber, Lyft Organizations: Uber, Service, Business, Gridwise, Stanford, University of Chicago, Pew Research

☆ I was Lyft's former head of PR. I'm really not surprised by their earnings blunder.
▼ + stars: | 2024-02-15 | by ( Will Valentine | ) www.businessinsider.com time to read: +6 min

Forty-eight hours later, it seems Lyft's earnings mistake has reached meme level in business circles. My immediate thought was probably the same as most people when I heard the news: oof, that's a really, really bad mistake. In fact, in my Visa days, my wife and twin toddlers would decamp to grandma's house for two weeks because we knew I'd be fully consumed with the earnings process. While their intentions are almost always positive, it's essential to avoid team bloat in the earnings process. By prioritizing a meticulous approach to the process, companies can transform earnings season from a high-risk ordeal into a showcase of reliability and precision.

Persons: it's, that's, I've, I'd, who's, It's, Will Valentine, Valentine Organizations: Service, Business, Visa, Pandora, Valentine Advisors, Lyft

BANGKOK (AP) — Shares rose in Asia on Thursday after Wall Street stocks recovered much of their sharp losses from a day before. On Wednesday, the S&P 500 climbed 1% to 5,000.62, clawing back more than two-thirds of its loss from Tuesday. It was the single strongest force lifting the S&P 500 index. Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.

Persons: Australia's, Taiwan’s Taiex, India's Sensex, Russell, Lyft, Airbnb Organizations: Wall, Bank of Japan, Nikkei, Reserve, Dow Jones Industrial, Nasdaq, Treasury, Nvidia, Technologies, Akamai Technologies, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Seoul, Japan, Britain, China, Germany, Hong Kong, Bangkok, Italy, U.S

☆ Morning Meeting rapid fire: Shopify, Coca-Cola, Lyft, Kraft Heinz and Robinhood
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorning Meeting rapid fire: Shopify, Coca-Cola, Lyft, Kraft Heinz and RobinhoodDuring the CNBC Investing Club’s Morning Meeting on Wednesday, Jim Cramer explained why he likes Coca-Cola’s stock for income-seeking investors. He also weighed in on Shopify, Lyft and more stocks.

Persons: Kraft Heinz, Robinhood, Jim Cramer Organizations: CNBC Locations: Shopify

Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine's Day, calling for higher pay and other changes to their working conditions. In the U.S., Uber and Lyft drivers planned daylong strikes in Chicago; Philadelphia; Pittsburgh; Miami; Orlando and Tampa, Florida; Hartford, Connecticut; Newark, New Jersey; Austin, Texas; and Providence, Rhode Island. Drivers were also holding midday demonstrations at airports in those cities, according to Justice for App Workers, the group organizing the effort. Meanwhile, U.K. delivery drivers for Uber Eats, Deliveroo, Just Eat and Stuart said they would turn off their apps and refuse deliveries between 5 p.m. and 10 p.m. Justice for App Workers, which says it represents 130,000 ride-hailing and delivery workers, is seeking higher wages, access to health care and an appeals process so companies can’t deactivate drivers without warning.

Persons: Uber, Stuart, ”, Evadur Rahman, Rahman, “, ” Rahman, “ It’s, ” Uber, Deliveroo, Rachel Gumpert, Lyft, ” Lyft, Jill Lawless, Brian Melley Organizations: App Workers, Associated Press, deactivations, U.S, ___ Associated Press Locations: U.S, Chicago, Philadelphia, Pittsburgh, Miami, Orlando, Tampa , Florida, Hartford , Connecticut, Newark , New Jersey, Austin , Texas, Providence , Rhode Island, London, ___

☆ Lyft shares up 16% in premarket trade, retaining some gains after forecast error
▼ + stars: | 2024-02-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

A Lyft sign is seen in the pick-up area at JFK Airport in New York City on April 28, 2023. Lyft shares were 16% higher in premarket trade on Wednesday, retaining some gains after the company said it made a major error in a press release reporting its latest results, but still outperformed analyst estimates. A release initially said the company was forecasting a 500 basis point, or 5%, expansion of its adjusted earnings margin for 2024. Lyft stock initially shot up more than 60% higher in extended trade after the report, before cooling significantly on the correction. The company's full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) swung from a $416.5 million loss to a $222.4 profit.

Persons: Erin Brewer, Cowen, Lyft's Organizations: JFK Locations: New York City

☆ Lyft CEO David Risher on Q4 results, earnings report error and Taylor Swift effect
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLyft CEO David Risher on Q4 results, earnings report error and Taylor Swift effectLyft CEO David Risher joins 'Squawk Box' to discuss the company's quarterly earnings results, how the error was made in its earnings report, the Taylor Swift effect, consumer demand, and more.

Persons: David Risher, Taylor Swift

☆ Lyft CEO says 'unacceptable' earnings error was 'my bad'
▼ + stars: | 2024-02-14 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

Lyft CEO David Risher apologized for a typo that led to a 60% stock surge. AdvertisementLyft's CFO can breathe easy — her boss isn't making her the fall person for a major earnings typo. "There are a lot of eyes on this press release, but at the end of the day, my bad." "It's an unacceptable error," Risher said. Within seconds of realizing the error, the CEO said Lyft quickly corrected the mistake.

Persons: David Risher, Risher, —, isn't, Lyft, Erin Brewer, it's Organizations: Service, Bloomberg, Wall

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