Albertsons Companies and Uber Technologies have expanded a program in which they donate and deliver surplus food to local nonprofit organizations and food banks. After being piloted in Washington, D.C., in 2023, the program has been expanded to Boston, Chicago and Denver, the companies said in a Tuesday (June 4) press release. "We are thrilled to partner with Uber to streamline the delivery of excess food to our partner food recovery organizations, ensuring that the food donated from our stores gets to thos ...

Jason Hawkes Investment thesis Uber (NYSE:UBER) reported 1Q24 earnings in early May, and I maintain my buy rating after the results. The investment thesis I proposed back in April is still at play, in spite of investors' disappointment in Uber this quarter. My positive outlook on Uber is based on my belief that the company has an advantage over the peer group through its diversified revenue across mobility and delivery, with the former offsetting declines in the latter and vice versa. This was reflected in ...

Loading... Loading... Over 10,500 black-cab drivers in London have initiated a £250 million lawsuit against Uber earlier this month. Amidst these legal challenges, Uber's financial performance remains volatile, with its stock price recently dropping 21% over two months. At the beginning of the month, over 10,500 London black-cab drivers launched a significant £250 million lawsuit against Uber Technologies Inc UBER. They accuse Uber of breaking taxi booking rules and misleading authorities to get its operati ...

I last covered Uber (NYSE:UBER) in February, and since then, the stock has lost 18.70% in price. I put out a Hold rating at the time, primarily a result of overvaluation concerns that I had, even though I believed its future autonomous transport offerings could be very strong. In this analysis, I deliver deeper research into how Uber's future autonomous taxi operations will likely be structured, given its present actions and future outlined intentions. It is my ongoing research and support for autonomous tr ...

Billionaire hedge fund manager Bill Ackman said he confronted the CEO of Uber after his cab driver accused the ride-sharing app of not allowing him to keep tips. Ackman, the founder and CEO of Pershing Square Capital Management, wrote on his X social media account on Wednesday that he ordered a yellow cab in Manhattan via the Uber app because he thought "good for Uber supporting the cabbies." "I asked the driver about his experience with Uber and he surprised me by saying it was bad," Ackman wrote to his mo ...

"On-demand delivery is now a core expectation for consumers, with 75% of them expecting express delivery as an option, and merchants are taking note," said Bernie Huddlestun, Head of Uber Direct for the US and Canada. "We're proud to partner with Lightspeed to offer restaurants solutions that meet their customers' needs and encourage repeat orders, while giving restaurants the flexibility to offer seamless delivery experiences in the way that works best for growing their business." This integration is now a ...

Autonomous vehicles could transform the ride-sharing industry in the coming decade. Uber collected $37.7 billion in bookings for those trips during the quarter, of which $16.6 billion was paid to its drivers -- the company's single largest expense. After stripping out other direct costs, including the money paid through to restaurants for their Uber Eats orders, Uber was left with $10.1 billion. When we move further down the income statement and account for operating costs like research and development and ...

Minnesota lawmakers passed a bill Sunday that aims to increase the pay rate for rideshare drivers and Lyft. Lyft responded to the legislation by saying the company found enough common ground to prevent it from exiting the state. "We have long supported a minimum earnings standard and increasing driver pay in smart, deliberate ways, which is why earlier this year we announced a new commitment where drivers will always make at least 70% of the weekly rider fares after external fees," a spokesperson for Lyft s ...

ST. PAUL, Minn. — A plan to boost pay for Uber UBER, -0.58% and Lyft LYFT, -1.95% drivers in Minnesota that lawmakers believe would prevent the companies from leaving the market advanced in the state Legislature on Sunday, hours before the deadline for lawmakers to pass bills before they adjourn. The plan that gained approval in the House was crafted by Democrats to replace a minimum pay measure the Minneapolis City Council passed that prompted Uber and Lyft to threaten to leave the state's biggest city. Th ...

This growing tech enterprise has accomplished so much in its short history. Since the start of 2023, both the S&P 500 and Nasdaq Composite Index have put up tremendous gains. This favorable market backdrop has helped lift certain businesses much higher than others. Uber (UBER -0.57%), for example, has soared 168% during that time. It's currently sitting at 20% off its peak price, but investor enthusiasm is still high toward this company. Can this growth tech stock continue its ascent to reach a $1 trillion ...