Uber seeking investors to spin out Postmates X, TechCrunch reports » 11:4801/1501/15/21
Postmates X, which Uber…
Postmates X, which Uber Technologies (UBER) acquired last year for $2.65B, is seeking investors in its bid to become a separate company, Kirsten Korosec of TechCrunch reports, citing several people familiar with the plans. Under the deal being shopped to investors, the company, being referred to as Serve Robotics, would be run by Ali Kashani, who heads up Postmates X and leads the Serve program, according to Korosec. Uber would retain an ownership stake in Serve Robotics and maintain a commercial agreement with the startup, she adds. Reference Link
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Uber, Lyft drivers and union sue over Prop. 22, Axios reports » 14:2401/1201/12/21
A group of drivers for…
A group of drivers for Uber Technologies (UBER) and Lyft (LYFT) and the Service Employees International Union filed a lawsuit to challenge the constitutionality of Proposition 22, the recent passed California ballot measure that keeps drivers as independent contractors, Kia Kokalitcheva of Axios reports. The plaintiffs argue that Prop. 22 violates the state constitution by stripping the legislature from enabling workers to organize and excluding drivers from the state workers' compensation program, Kokalitcheva says. Reference Link
Uber expands Uber Green to over 1,400 cities in North America » 10:5101/1201/12/21
In a blog post, Andrew…
In a blog post, Andrew Macdonald, SVP of mobility and business operations said, "We're excited to kick off 2021 with more actions to increase clean mobility options for riders, drivers and cities...First, we're expanding Uber Green, our EV and hybrid ride option, to 1,400+ new North American cities and towns. Riders in cities like Washington D.C., Austin, Calgary, Houston, Miami, New York City, Tucson, Winnipeg and hundreds more can now choose a greener ride. Drivers also receive an extra $0.50 directly from a $1 rider surcharge for every Uber Green trip completed, with the other half going to support EV adoption. We're also integrating Uber Green into our membership service, Uber Pass, so that Pass members will receive 10% off Green trips just as they would with a standard ride...Next, we're announcing key updates to our partnerships with vehicle manufacturers, charging network providers, and EV rental and fleet companies to help drivers access more savings and make an equitable transition to electric vehicles: Avis EV rentals - Starting in Los Angeles, drivers now can use a zero-emissions vehicle through Avis' new, affordable EV rental program. We'll expand this program nationwide in 2021. Ample Modular Battery Swapping for EVs - Starting this month, drivers in San Francisco can rent a vehicle with Ample technology and quickly swap their electric vehicle batteries in mere minutes, then return to the road fully charged. Expanded EV charging discounts with EVgo - Our partnership with EVgo is providing exclusive savings for drivers on Uber's platform across 800+ U.S. locations, making it more affordable to access out-of-home EV charging...In our drive toward zero emissions, we're continuing to expand our offerings of sustainable alternatives to the personal car... Today we're announcing: Journey Planning is now available in 10+ more cities, including Atlanta, Auckland, Brisbane, Buenos Aires, Guadalajara, Philadelphia, Rome, Bangalore, Chennai, and Mumbai. This means you can plan your entire public transit journey, from swiping through real-time schedules to walking directions to and from transit stations, directly in your Uber app in more than 40 cities globally. Uber and Transit is rolling out in Mexico City and London, having been previously available in Sydney and Chicago. This feature empowers you to lower your emissions and reduce congestion by planning a multimodal trip, combining UberX with walking directions and city bus, subway, or train connections." Reference Link
Uber, Moderna to collaborate on 'uptake of COVID-19 vaccines' » 08:0401/1201/12/21
Moderna (MRNA), and Uber…
Moderna (MRNA), and Uber Technologies (UBER) announced a collaboration to explore ways to help support the uptake of COVID-19 vaccines. Moderna and Uber will work together initially to provide accessible, credible information on vaccine safety through Uber's in-app messaging. The two companies will also work with public health and other organizations to identify additional opportunities to support ongoing efforts to broaden access to COVID-19 vaccines. Additional options being evaluated include incorporating ride scheduling directly into the immunization appointment process, and possibly integrating with vaccine providers' systems to text reminders and enable patients to book rides in advance of their first or second immunization appointments. "Used by millions of people every day, the Uber platform can both help educate the public about vaccine safety and help eliminate transportation barriers to vaccination. Together with Moderna, we hope to do our part to help increase vaccination awareness and adoption, and we look forward to exploring ways we can help ensure everyone, especially in the hardest-hit communities of color, has access to a vaccine," said Uber CEO Dara Khosrowshahi. "As part of our commitment to help address COVID-19, Moderna will be working with a coalition of partners to educate, build trust around and increase awareness of the importance of vaccination in those communities significantly impacted by the pandemic. We look forward to combining our expertise with Uber's capabilities and platform to support this important effort," said Moderna CEO Stephane Bancel. In December, Uber committed 10 million free or discounted rides to help ensure transportation is not a barrier to getting a vaccine. Targeting communities hardest hit by the pandemic, Uber partnered with the National Urban League, National Action Network and the Morehouse School of Medicine. Uber will continue to build a broad coalition of organizations committed to breaking down transportation barriers in these communities.
SoftBank affiliate sells 38M common shares of Uber » 20:0501/1101/11/21
In a regulatory filing,…
In a regulatory filing, SB Cayman 2, an affiliate of SoftBank's (SFTBY) VIsion Fund, disclosed the sale of 38M common shares of Uber (UBER) on January 7 at a price of $53.46 per share.
Uber call volume above normal and directionally bullish » 11:0501/1101/11/21
Bullish option flow…
Bullish option flow detected in Uber with 35,692 calls trading, 1.1x expected, and implied vol increasing over 3 points to 57.55%. 1/22 weekly 55 calls and Jan-21 55 calls are the most active options, with total volume in those strikes near 10,900 contracts. The Put/Call Ratio is 0.32. Earnings are expected on February 4th.
Fly Intel: Pre-market Movers » 09:0601/0801/08/21
STM, ACIA, VLDR, UBER, BNGO, SCWX, CERC, SRPT, CATM, GSAT, VIH, ST, TSLA, CSCO
Check out this morning's…
Uber slips as Bloomberg says Goldman offering shares in block trade » 08:3601/0801/08/21
Shares of Uber are down…
Shares of Uber are down about 4% to $53.77 in pre-market trading. According to Bloomberg, Goldman Sachs is said to be offering 38M shares in a block at a price of $53.90-$56.13 per share.
Uber call volume above normal and directionally bullish » 11:2501/0701/07/21
Bullish option flow…
Bullish option flow detected in Uber with 64,483 calls trading, 1.7x expected, and implied vol increasing almost 3 points to 54.64%. Jan-21 55 calls and 1/8 weekly 55 calls are the most active options, with total volume in those strikes near 10,500 contracts. The Put/Call Ratio is 0.22. Earnings are expected on February 4th.
Uber price target raised to $70 from $65 at BTIG » 07:3601/0701/07/21
BTIG analyst Jake Fuller…
BTIG analyst Jake Fuller raised the firm's price target on Uber (UBER) to $70 from $65 and keeps a Buy rating on the shares. The analyst is revising his 2022-2025 delivery bookings higher, reflecting grocery impact on segment growth and also assigns a higher revenue multiple for Uber Eats given the robust DoorDash(DASH) valuation. Fuller also raises his FY21 EPS view on Uber by 12c to ($1.19).