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July 13, 2020

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Uber CEO is ‘very confident’ the company will become profitable next year

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by CNBC016
CNBC – For more and to sign up click here Uber‘s acquisition of food delivery service Postmates will help push the company to profitability in 2021, CEO Dara Khosrowshahi told CNBC on Tuesday. “We’re very confident we’re going to get to profitability next year and we have enough of a diversified portfolio to......
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From Uber to Asia, the pandemic is remaking the world’s ‘super app’ race

CNBC
by CNBC014
CNBC – For more and to sign up click here A Gojek driver, center, sits in traffic in Jakarta, Indonesia, on Monday, July 15, 2019. Dimas Ardian | Bloomberg via Getty Images The biggest of rideshare platforms have been in a race to push beyond core transportation and create a......
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Uber’s Postmates deal: One trader says it’s time to short the stock

CNBC
by CNBC016
CNBC – For more and to sign up click here Uber just added Postmates to its portfolio. The ride-hailing company agreed to buy the food-delivery service on Monday for $3.65 billion in an all-stock deal. The news added to Uber shares’ recent gains, rallying 6% on top of a 25%......
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Uber’s deal for Postmates shouldn’t distract investors from its troubled ride-sharing business

CNBC
by CNBC017
CNBC – For more and to sign up click here Dara Khosrowshahi, CEO of Uber, speaking at the 2019 DealBook Conference in New York on Nov. 6th, 2019. Photo: Mike Cohen Nothing Uber does in food delivery can conceal a critical quandary facing the company — Covid-19 is wreaking havoc......
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Stock market live today: Dow up 300 points, Amazon tops $3,000, big deals boost sentiment

CNBC
by CNBC022
CNBC – For more and to sign up click here U.S. equities rose sharply on Monday to start the first full trading week of the third quarter and second half of 2020. All three major averages were in the green, shrugging off an increase in coronavirus cases in the U.S.......
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Uber to buy food-delivery service Postmates for $2.65 billion in stock

CNBC
by CNBC010
CNBC – For more and to sign up click here Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., listens during a panel discussion at the Bloomberg Global Business Forum in New York, U.S., on Wednesday, Sept. 26, 2018. Mark Kauzlarich | Bloomberg | Getty Images Uber has bought food-delivery......
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CNBC Business

Uber and Postmates reportedly agree on a $2.65 billion all-stock deal

CNBC
by CNBC016
CNBC – For more and to sign up click here Close-up of sign for the popular app-based food and supplies deliver service Postmates, in the Gourmet Ghetto (North Shattuck) neighborhood of Berkeley, California, October 6, 2017.  Smith Collection/Gado | Archive Photos | Getty Images Ride-sharing company Uber Technologies has agreed......
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Netflix names Bozoma Saint John as chief marketing officer

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by CNBC013
CNBC – For more and to sign up click here Netflix on Tuesday appointed Bozoma Saint John as the streaming giant’s chief marketing officer, starting in August, adding a high-profile Black executive to senior management. Saint John, who has been vocal about inequality in corporate America, joins from entertainment and......
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CNBC Business

Postmates is deciding between going public and selling to Uber or special purpose acquisition company

CNBC
by CNBC016
CNBC – For more and to sign up click here Close-up of Postmates logo. Smith Collection/Gado | Archive Photos | Getty Images U.S. food delivery service Postmates has received acquisition offers from Uber and a special purpose acquisition company, or SPAC, as it simultaneously makes plans to go public, according......
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CNBC Business

Stocks making the biggest moves in the premarket: Micron, Conagra Brands, Apple, Xilinx & more

CNBC
by CNBC018
CNBC – For more and to sign up click here Take a look at some of the biggest movers in the premarket: Conagra Brands (CAG) – The food producer reported quarterly profit of 75 cents per share, 9 cents a share above estimates. Revenue also exceeded consensus and Conagra gave......
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Amazon’s brand value tops $400 billion, boosted by the coronavirus pandemic: Survey

CNBC
by CNBC014
CNBC – For more and to sign up click here Amazon has maintained its position as the world’s most valuable brand, increasing its worth by almost a third to $415.9 billion compared to last year, according to a ranking by consultancy Kantar published Tuesday. The annual BrandZ Top 100 Most......
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CNBC Business

Amazon will have to invest many billions more than it’s spending on Zoox to bring self-driving tech to market

CNBC
by CNBC014
CNBC – For more and to sign up click here Blue Origin and Amazon founder Jeff Bezos. Mandel Ngan | AFP | Getty Images Amazon is shelling out more than $1 billion on self-driving car company Zoox, one of its most expensive acquisitions ever. But CEO Jeff Bezos is going......
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CNBC Business

Amazon buys self-driving technology company Zoox

CNBC
by CNBC012
CNBC – For more and to sign up click here Amazon has just taken its boldest step yet into self-driving vehicles, acquiring six-year-old start-up Zoox, the company announced Friday. Amazon said the deal will help bring Zoox’s “vision of autonomous ride-hailing to reality.” Zoox will continue to operate as a......
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CNBC Business

Here’s a running list of all the companies observing Juneteenth this year

CNBC
by CNBC017
CNBC – For more and to sign up click here A pedestrian walks past an advertisement for Nike. Dhiraj Singh | Bloomberg | Getty Images Multiple companies have announced that they will either honor or recognize Juneteenth as a paid holiday for their employees this year, as a sign of support......
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Uber is making Juneteenth and election days around the world company holidays

CNBC
by CNBC021
CNBC – For more and to sign up click here Dara Khosrowshahi, CEO of Uber, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan,. 22nd, 2020. Adam Galici | CNBC Uber will honor Juneteenth and elections days around the world as company holidays,......
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CNBC Business

Digital bank Current sees ‘insane’ growth during pandemic as essential workers sign up for accounts

CNBC
by CNBC021
CNBC – For more and to sign up click here Digital banks like Chime and Square’s Cash App have added millions of users by offering streamlined, mobile-first accounts without the pesky fees associated with brick-and-mortar banks. To that list of disruptors, add the New York-based start-up Current. Current, founded in......
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CNBC Business

Hedge fund Elliott Management shifts to elephant hunting as fund size balloons

CNBC
by CNBC028
CNBC – For more and to sign up click here Paul Singer David A. Grogan | CNBC Until fairly recently, activist hedge fund Elliott Management’s core technology investing strategy was pretty straightforward: Target a smallish company known for selling software to businesses, agitate for a sale — sometimes by offering to......
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Here’s what tech companies have said they’ll do to fight racism in wake of George Floyd protests

CNBC
by CNBC019
CNBC – For more and to sign up click here Thousands across the nation have gathered, donated or voiced their support of the Black community following the police killing of George Floyd, an unarmed Black man. Tech companies and their leaders have been no exception, with several announcing large donations......
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CNBC Business

Taco Bell owner sues Grubhub, claiming it violated distribution agreement

CNBC
by CNBC027
CNBC – For more and to sign up click here Jin Lee | Bloomberg | Getty Images Taco Bell owner Yum Brands is suing Grubhub, claiming that it violated its distribution agreement. Yum bought a 3% stake in the third-party delivery app in 2018 as more national chains looked to......
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CNBC Business

Microsoft says it won’t sell facial recognition software to police until there’s a national law ‘grounded in human rights’

CNBC
by CNBC026
CNBC – For more and to sign up click here Brad Smith, president of Microsoft, right, speaks as Christopher Eisgruber, president of Princeton University, left, and Princeton Graduate Maria De La Cruz Perales Sanchez listen during a news conference outside the Supreme Court in Washington, D.C. on Nov. 12, 2019.......
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