Latest news with #Uber
Bloomberg
4 hours ago
- Business
- Bloomberg
Stock Movers: Nike, Uber, Estee Lauder
On this edition of Stock Movers: - Nike (NKE) shares jumped as much as 15%, the most intraday since December 2022, after forecasting a smaller-than-expected drop in revenue for the current quarter, a sign that the sportswear company's earnings trend may have hit an inflection point, according to analysts. Nike said its yearlong sales decline is starting to ease, suggesting that Chief Executive Officer Elliott Hill's strategic moves are paying off. Before today, the stock had lost a third of its value over the past 12 months. The sportswear company expects sales to fall by a mid-single digit in the current quarter, a smaller drop than Wall Street anticipated and an improvement from the previous three-month period. Nike didn't issue guidance for its full fiscal year due to tariffs and uncertainty. - Uber (UBER) and Lyft (LYFT) stocks fell after both names were downgraded to hold from buy at Canaccord Genuity as analyst George Gianarikas sees 'potential for rapid disruption.' - Estee Lauder (EL) shares rose after being upgraded to buy from hold and increased its price target.
New York Post
4 hours ago
- Business
- New York Post
How the Big Beautiful Bill will lower energy costs, shore up the electric grid — and unleash American prosperity
How much would you pay for an Uber if you didn't know when it would pick you up or where it was going to drop you off? Probably not much. Yet this is the same effect that variable generation sources like wind and solar have on our power grids. Advertisement You never know if these energy sources will actually be able to produce electricity when you need it — because you don't know if the sun will be shining or the wind blowing. Even so, the federal government has subsidized these sources for decades, resulting in higher electricity prices and a less stable grid. President Donald Trump knows what to do: Eliminate green tax credits from the Democrats' so-called Inflation Reduction Act, including those for wind and solar power. Advertisement The One Big Beautiful Bill seeks to do that: Along with other proposals, like canceling billions in Biden Green New Deal money and making much-needed investments in the Strategic Petroleum Reserve, it aims to set an aggressive end date for these subsidies and build on the president's push for affordable, abundant, and secure energy for the nation. The House bill begins phasing out these tax credits within three years, saving hundreds of billions for American taxpayers. As secretary of energy — and someone who's devoted his life to advancing energy innovation to better human lives — I, too, know how these Green New Deal subsidies are fleecing Americans. Wind and solar subsidies have been particularly wasteful and counterproductive. Advertisement One example: The Renewable Electricity Production Tax Credit was first introduced in 1992, when wind energy was a nascent industry. This tax credit, originally set to phase out in 1999, was sold on a promise of low-cost energy with fewer tradeoffs. Since 1999, the REPTC has been extended a whopping 12 times, yet consumers continue to pay more on average for their home electric bills than in 1992, even after adjusting for inflation. Plus, today, more than 75% of US electricity comes from natural gas, nuclear and coal — and they supply it 24/7, independent of the weather. Climate change activists are predictably up in arms over efforts to end the subsidies. But like Uber rides, energy generation is pointless if it flunks the test of reliable delivery. Advertisement At 8 p.m. on Inauguration Day, amid bitter cold across much of the Eastern seaboard, we reached peak demand for electricity in the mid-Atlantic region. At that point in time, PJM Interconnection, which supplies the Mid-Atlantic United States, got approximately 44% of its power from coal, 24% from natural gas, 25% from nuclear, 3% from oil, 3% from wind, 1% from hydro and 0% from solar. Think about that: When Americans most needed dependable power to heat their homes and businesses to stay alive, solar and wind were non-factors. Our homes, hospitals and businesses only continued to operate because there was enough reliable, baseload energy from natural gas, coal and nuclear available to meet demand. How valuable is a teammate who occasionally shows up for practice but is never there at game time? And the more we load our grid with intermittent generation, the worse the grid performs during times of maximum stress and demand. Subsidies are meant to drive prices down and boost supply. But subsidizing wind and solar has done exactly the opposite. These sources force grid operators to maintain two separate systems — one for legacy power and another for renewable sources. Advertisement When wind and solar come online, legacy resources must be scaled back. But it's difficult to store electricity from wind and solar. So when wind and solar aren't available at times of peak demand, reliable baseload sources must scale up. Bottom line: higher costs. Indeed, wind and solar subsidies not only cost taxpayers but also force providers to add more dispatchable resources to the grid, at their expense. These costs are then passed on to ratepayers. Advertisement In other words, more wind and solar brings us the worst of two worlds: less reliable energy delivery and higher electric bills. It's time to stop subsidizing such insanity in perpetuity. If sources are truly economically viable, let's allow them to stand on their own, and stop forcing Americans to pick up the tab if they're not. Since Day 1, President Trump has been focused on lowering energy costs and promoting affordable, reliable and secure energy sources. Advertisement The One Big Beautiful Bill brings us one step closer to cementing this legacy — and unleashing economic prosperity for the American people. US Energy Secretary Chris Wright is a self-described energy nerd turned entrepreneur. He's spent his entire career in the energy industry, working in oil and gas, nuclear, solar and geothermal.
Yahoo
6 hours ago
- Business
- Yahoo
Bill Ackman's Portfolio Strategy: Should You Ditch Diversification?
Despite being one of the most successful hedge fund managers, Bill Ackman has a surprisingly concentrated portfolio. Expert investors are divided on the concept of diversification, but Ackman clearly isn't a believer. It depends on how comfortable you are with certain types of investments. These 10 stocks could mint the next wave of millionaires › One of the most popular ways investors get ideas for stocks to take a closer look at is by examining what stocks billionaires own. Hedge fund manager Bill Ackman is a unique case, because while most billionaire money managers maintain portfolios of dozens of stocks, Ackman doesn't. In fact, you can count the number of different stocks Ackman invests in on two hands. With that in mind, here's a closer look at Ackman's stock portfolio and whether it's as important to maintain a diversified portfolio as you may have heard. Bill Ackman manages the Pershing Square Capital Management hedge fund, which has roughly $12 billion worth of stocks in its portfolio. But it often surprises investors that the entire portfolio is invested in just 10 stocks, two of which are relatively small investments. In fact, about half of Ackman's capital is invested in just three stocks: Uber (NYSE: UBER), Brookfield Corporation (NYSE: BN), and Howard Hughes Holdings (NYSE: HHH). In a nutshell, Ackman is very thorough in his research and only puts money into stock in which he has a very high conviction. He will regularly release elaborate presentations to investors detailing the rationale behind each trade and has historically produced excellent long-term results. Since the fund's inception in 2004, Ackman has generated 15.9% annualized returns for his long-term investors. Diversification can be a good thing. Of course, putting too much of your money into any single stock can result in large swings in your portfolio, and the same can be said about investing too much in any single industry. On the other hand, it can make sense to not diversify if you know a certain industry or type of stock very well. For example, if you understand artificial intelligence deeply and are confident in your abilities to evaluate AI stocks, it can make sense to have more of your money concentrated in that area. It can also make sense to not diversify if you don't understand certain industries well. Warren Buffett tends to avoid technology stocks, for example. Speaking of Buffett, he has a famous quote on diversification, saying that it is "protection against ignorance," adding, "It makes little sense if you know what you're doing." Other experts use the term "deworsification" to describe overdiversifying a portfolio beyond what is necessary. Whether you should be diversified or concentrated depends on how knowledgeable you are when it comes to investing, whether you know certain areas of the stock market better than others, and other factors. But the key takeaway is that there isn't one correct approach. As a personal example, I own about 35 to 40 stocks at any given time, but know the financial and real estate sectors best, so you'll find about 40% of my stock portfolio invested in them. On the other hand, there's absolutely nothing wrong with spreading your money around if being too concentrated is beyond your comfort level. To be perfectly clear, a concentrated portfolio approach is inherently riskier than a diversified one. The majority of investors should exercise extreme caution before allocating a lot of money to any single stock or industry. As a final thought, Bill Ackman is not only an excellent investor but also has a lot more risk tolerance than the average person, in the sense that he could lose a lot of money and still be a billionaire. The same goes for Warren Buffett, who has about two-thirds of Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) portfolio invested in a handful of stocks, or any of the other investing heavyweights. It's important to take your own expertise and risk tolerance into account. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $383,569!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,025!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $689,813!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 23, 2025 Matt Frankel has positions in Berkshire Hathaway, Brookfield Corporation, and Howard Hughes. The Motley Fool has positions in and recommends Berkshire Hathaway, Brookfield, Brookfield Corporation, Howard Hughes, and Uber Technologies. The Motley Fool has a disclosure policy. Bill Ackman's Portfolio Strategy: Should You Ditch Diversification? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Business
- Yahoo
Legendary Investor Josh Brown Is Betting Big on This 1 Robotaxi Stock (Hint, It's Not Tesla)
Ritholtz Wealth Management chief executive Josh Brown expects Uber (UBER) shares to remain a top beneficiary of the booming autonomous vehicle market. In fact, the ride-hailing giant is currently his largest personal holding because of that conviction, he revealed in a recent interview with CNBC. Tesla's Robotaxis Reportedly Sped and Veered Into the Wrong Lanes. Does This Crush the Bull Case for TSLA Stock? Dear Micron Stock Fans, Mark Your Calendars for June 25 Up 93% in 2025, Palantir Stock Is Too Hot to Handle Here Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Uber stock has been in a sharp uptrend in recent months – and is currently up some 50% versus its April low. Brown's bullish remarks on Uber shares arrive shortly after the mobility firm extended its robotaxi services to Atlanta, which the market veteran dubbed 'super important' in his CNBC interview. According to him, self-driving vehicles from all OEMs (Tesla (TSLA), Waymo, or any other) is a massive positive for UBER as the technology removes the human driver – 'the most expensive part of the experience for both the consumer and the company.' The Ritholtz chief executive believes the NYSE-listed firm will continue to sign new partnerships with autonomous businesses, which he's convinced will deliver a meaningful boost to its profitability over time. On Wednesday, Josh Brown also confirmed that he wouldn't sell UBER stock even if it surpasses $100 in the weeks ahead. Josh Brown expects self-driving partnerships to bolster UBER's already strong financials. In May, the ride-hailing giant reported $0.83 of EPS for its fiscal Q1 – well above Street estimates. Investors should also note that the NYSE-listed firm already has about a dozen partnerships with autonomous players. Just this month, it teamed up with Wayve on 'level 4' self-driving vehicles in London. That made Justin Post – a senior Bank of America analyst – reiterate his 'Buy' rating on Uber shares with a price target of $97, which indicates potential for another 8% rally from current levels. UBER does not currently pay a dividend, though. Wall Street analysts seem to share Brown's optimism on UBER stock, given the consensus rating on the ride-hailing giant currently sits at 'Strong Buy.' Analysts' price targets on Uber Technologies go as high as $115 at the time of writing, indicating potential upside of more than 25% from here. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Time of India
7 hours ago
- Automotive
- Time of India
Raj to promote its own app for booking cabs, autos, and bikes
1 2 Jaipur: The cab and auto rickshaw associations of Jaipur are trying to launch a local app—KTS, just like their counterparts in states like West Bengal and Maharashtra. The association members claimed that passengers can book cabs, autos, and bikes at the govt-announced fare with a minimum service charge through this app. "We don't think that the govt can put pressure on the app cab providers, like Ola or Uber, and take control of the fare of the app cab. It's better to have an indigenous app for the state where we can control the fare with the help or instructions of the state govt. We would soon promote the KTS app," stated Kuldeep Singh Issar, president of an auto rickshaw union in the city. Members of the cabs and auto associations claim that this app will have dual benefits for both the drivers and passengers. First, since the app would only charge govt-approved fare, there won't be any surcharges that the normal app cab charges during high demand. Second, a marginal service price will be charged that the drivers paid as commission to the operators of the app. This service charge will be utilised for app maintenance. "Passengers can also book two-wheeler rides through this app. In the future, we may consider adding e-rickshaws to this app. There are also provisions to book outstation rides through this app," added Issar. The associations launched this app last year. But due to lack of promotion, the app did not become popular among drivers and passengers. Now, the union wants to promote this app in a big way. Soon, they will write to the state govt, airport officials, and the railways to provide stands for cabs and autos registered with this app at the city's bus stands, airport, and railway stations.
