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☆ SunPower stock collapses to nearly $1 as company halts leases, installations and shipments
▼ + stars: | 2024-07-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Workers install solar panels during a SunPower installation on a home in Napa, California, US, on Monday, July 17, 2023. SunPower stock collapsed more than 40% this week after the company informed dealers that it will no longer support new leases, installations or product shipments, with analysts largely writing the company off as on the verge of going out of business. SunPower stock has lost nearly all of its value the last 12 months, with shares down nearly90% to close at $1.51 on Thursday. "We think this effectively marks the end for SPWR as an operating business," Guggenheim analysts Joseph Osha and Hilary Cauley told clients in a Friday note. "Considering the debt that the company has accumulated, we believe that SPWR's equity no longer has any value."

Persons: Roth, Guggenheim, Joseph Osha, Hilary Cauley Organizations: Guggenheim Securities, CNBC Locations: Napa , California

☆ Instacart's biggest IPO twist: Tech trying to go public as a value stock
▼ + stars: | 2023-09-18 | by ( Tim Mullaney | ) www.cnbc.com time to read: +9 min

At the top of the latest IPO price range, the enterprise value would be 16x EBITDA. The right valuation for Instacart depends on where the ultimate rate of sales growth falls, Einhorn said. Including the cash on the company's balance sheet, that values Instacart at about three times EBITDA – way below DoorDash's valuation. Even that would value the company at only seven times 2025 EBITDA, and about 14 times EBITDA from the last four quarters, still a sharp discount to DoorDash. So in a twist few would have predicted in 2020 or 2021, Instacart is trying to go public as a value stock, carefully managed to wring the best results from potentially modest growth.

Persons: Instacart, –, Einhorn, Matt Einhorn, Mark Mahaney, DoorDash, Nicholas Cauley, Cauley, Covid, Nick Giovanni, Giovanni, EBITDA Organizations: Renaissance Capital, San Francisco, ISI, Walmart, Kroger, Aldi, Omicron, Gross Locations: DoorDash, EBITDA, York

☆ Luton ready to crank up volume in first top-flight home game for 31 years
▼ + stars: | 2023-08-31 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

But anticipation is building for the visit of West Ham, who will become the first top-flight team to play a league match at Kenilworth Road since Aston Villa 31 years ago. The volume created by the Hatters fans crammed in on Friday will shake the 118-year-old stadium to its foundations. Forward Cauley Woodrow, who scored in the League Cup win at Kenilworth Road against Gillingham this week, said Luton needed to turn their home into an intimidating 'fortress'. Arsenal's priority will be avoiding any repeat of the early goals they have conceded on a regular basis at home of late. Andreas Pereira's strike for Fulham after 57 seconds last weekend meant the Gunners became the first Premier League team to concede a first-minute goal three times in a calendar year.

Persons: Matthew Childs, hemming, Rob Edwards, We've, Woodrow, Luton, Bramall, Mikel Arteta's, Andreas Pereira's, Martyn Herman, Ken Ferris Organizations: Soccer, Luton Town, Gillingham, Kenilworth, Luton, West Ham United, Burnley, Brighton & Hove Albion, Chelsea, Premier League, Coventry City, Aston Villa, Hatters, League, West Ham, Hammers, Manchester City, Fulham, London, Tottenham Hotspur, Sheffield United, Everton, Newcastle United, Arsenal, Manchester United, Gunners, Thomson Locations: Luton, Britain, Kenilworth, West Ham, West, Bramall Lane, Liverpool, Brighton, Saturday's

☆ Bumble declines as higher expenses fan concerns about Tinder competition
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Rival Match (MTCH.O), owner of Tinder, also forecast revenue for the third quarter above Wall Street estimates last week, expecting stronger marketing to drive user growth. Bumble App revenue grew 23.4% to $208 million in second the quarter, compared with $168.5 million a year earlier. Total revenue jumped 18.5% to $259.7 million, compared to $219.2 million, a year earlier. But Bumble forecast third-quarter revenue between $274 million and $280 million, a marginally higher midpoint compared with Wall Street expectations of $275.6 million, according to Refinitiv IBES data. Net earnings stood at $9.3 million, compared with a net loss of $5 million.

Persons: Mike Blake, Tinder, Nicholas Cauley, Bumble, we've, Whitney Wolfe, Manya Saini, Shinjini Organizations: Inc, Apple, Nasdaq, REUTERS, Tinder, Thomson Locations: Bengaluru

☆ Griner plays in WNBA for first time since Russia detention
▼ + stars: | 2023-05-13 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

"I didn't think I would be sitting here. I didn't think I would be playing basketball this quickly," Griner told reporters after the Sparks handed them a 90-71 loss. Griner was greeted to roars of celebration at Phoenix's Footprint Center on Friday as she exited the tunnel and strode onto the court. "I didn't feel like I was gassed or dying," said Griner, who offered a withering self-appraisal of her defensive performance. The two-time WNBA scoring champion has been subject to enormous media interest since her return to the United States, using her super-sized platform to champion the cause of other Americans detained abroad.

May 9 (Reuters) - Vacation rental booking company Airbnb Inc (ABNB.O) said on Tuesday that it expected fewer bookings and lower average daily rates in the second quarter versus a year earlier, sending shares down 11.5% in after-hours trading. Average daily rates were flat year-on-year at $168. Nicholas Cauley, an analyst at Third Bridge, said pressure on household budgets was likely to result in consumers choosing more affordable accommodation, leading to a decline in average daily rates in future quarters. "Some of the pressures that we're seeing there on overall revenue growth has frankly just been some of the elevated (average daily) rates," Airbnb Chief Financial Officer David Stephenson told investors. The company said earlier this year that average daily rates would remain pressured as vacationers returned to lower-cost urban rentals.

May 2 (Reuters) - Match Group (MTCH.O) on Tuesday forecast second-quarter revenue below analysts' expectations, but said it is seeing signs of growth at Tinder after it made changes at the dating platform. Shares of the company, whose revenue per paying user grew by about 2% from a year earlier, rose 3% in volatile trading after the bell. The company forecast current-quarter revenue between $805 million and $815 million, compared with analysts' average estimate of $822.3 million, according to Refinitiv. Match Group said it saw paying users across its family of dating apps fall 3% from a year earlier to 15.9 million. The company reported revenue of $787 million in the three-month period ended March 31, compared with analysts' average estimate of $793.8 million.

☆ US Special Operations Command's workhorse helicopter is getting upgrades to replace parts that are nearly 50 years old
▼ + stars: | 2023-04-27 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

US special operators rely on their variant, the MH-47, for missions at night and behind enemy lines. As such, the US special-operations community's workhorse helicopter is getting upgrades to replace parts that are nearly 50 years old. US Army Special Operations Command has used Chinooks for several decades. Early versions had modifications for special operations. The 160th Special Operations Aviation Regiment, nicknamed "the Night Stalkers," is the cream of the crop when it comes to US military aviation.

☆ How Uber left Lyft in the dust
▼ + stars: | 2023-03-29 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +5 min

In the process, Lyft cultivated a feel-good brand – but Uber dominated the market. “As a member of the board, he knows both the challenges and opportunities ahead.”For Lyft, the current challenges are immense. While Uber diversified its business beyond ride-hailing by delivering meals and grocery items, Lyft never did. David Risher, Lyft's new CEO, flanked by Lyft's co-founders, Logan Green (left) and John Zimmer (right). Davidson, wrote in a note this week that the new CEO “could signal an increased willingness to broaden the strategic aperture at LYFT a bit as it relates to areas like product strategy (delivery), partnerships, or other novel ways to create value.”Former Uber CEO Travis Kalanick (left); current Uber CEO Dara Khosrowshahi (right).

☆ DoorDash is headed to Super Bowl, pushing its on-demand grocery business again. Here are 7 key moves it is making to dominate retail delivery after conquering restaurants.
▼ + stars: | 2023-02-12 | by ( Nancy Luna | ) www.businessinsider.com time to read: +13 min

In August 2020, DoorDash launched retail delivery with chains like 7-Eleven and Walgreens. Editor's note: On Sunday, DoorDash is airing its second Super Bowl commercial to promote its grocery delivery business. Lately, DoorDash has its sights set on a new prize — dominance in retail and grocery delivery. "We have more retail stores, grocery included, than any other platform in North America today." DoorDashDoubleDashA year after launching grocery delivery, DoorDash introduced DoubleDash.

While a tough economy and a stronger dollar had also crimped its business, poor product execution at Tinder was the "significant" culprit, Match said. Match reaffirmed its 2023 revenue growth forecast of 5% to 10%. It expects revenue growth to reach double digits by the fourth quarter on increasing momentum in the second half. The company forecast first-quarter revenue between $790 million and $800 million, lower than analysts' estimates of $817.3 million, according to Refinitiv data. Revenue fell 2% to $786 million in the fourth quarter ended Dec. 31, also missing expectations of $787.3 million.

☆ 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.

☆ DoorDash Analysts Optimistic on the Firm's Grocery and Retail Growth
▼ + stars: | 2022-11-02 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Expanding selection has made DoorDash resilient as restaurant-delivery growth declines and recession worries grip consumers, analysts say. "DoorDash's greater selection, convenience, and value are proving resilient," Andrew Boone, a JMP Securities analyst, said in a note earlier this year. Last month, DoorDash surpassed 75,000 retail stores on its platform, up from 40,000 a year ago. DoorDash opened the first DashMart in 2020, and the convenience stores have grown to 25 locations in cities in the US and Canada. "DoorDash is going to strangle Instacart using their own system," the grocery and supply-chain consultant Brittain Ladd told Insider.

☆ DoorDash is making 7 keys moves to dominate retail and grocery delivery after conquering restaurants — and creating new rivals in Instacart and Gopuff
▼ + stars: | 2022-10-27 | by ( Nancy Luna | ) www.businessinsider.com time to read: +12 min

In August 2020, DoorDash launched retail delivery with chains like 7-Eleven and Walgreens. Lately, DoorDash has its sights set on a new prize — dominance in retail and grocery delivery. DoorDash has leaned heavily into grocery, convenience-store, and retail delivery since launching these expanded services in 2020. "We have more retail stores, grocery included, than any other platform in North America today." DoorDashDoubleDashA year after launching grocery delivery, DoorDash introduced DoubleDash.

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