8.12 - 8.44
7.85 - 21.52
Join Discuss about LYFT with like-minded investors
thanks, this or the uber/lyft play could pay off
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any ideas on lyft?
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By Shubham Batra and Amruta Khandekar (Reuters) - The S&P 500 index slipped on Tuesday after a three-day rally fueled by support measures for the banking sector and a deal for Silicon Valley Bank assets. Bank shares rebounded sharply on Monday after First Citizens BancShares Inc said it would acquire the deposits and loans of Silicon Valley Bank, whose collapse earlier this month sparked a selloff in the sector. Shares of First Citizens climbed 3.5% after surging more than 50% on Monday. The KBW regional banking index slipped 0.1%, while the big U.S. banks including JP Morgan Chase (NYSE:JPM) & Co, Bank of America (NYSE:BAC) and Citigroup (NYSE:C) were up marginally. "The fact that we've got answers on Silicon Valley Bank, Signature Bank (NASDAQ:SBNY) and Credit Suisse means that we have more answers than questions," said Art Hogan, chief market strategist at B Riley Wealth in Boston. "But there are still enough unknowns that the market hasn't really declared an all-clear signal yet." Lawmakers are expected to put U.S. bank regulators on the defensive over the unexpected failures of regional lenders Silicon Valley Bank and Signature Bank when they testify before Congress later on Tuesday. Top regulatory officials for the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and Treasury Department will testify before congressional committees. Money market bets are now split between the Fed raising interest rates by 25 basis points and a pause in its policy meeting in May, after being largely tilted towards a no-hike scenario at the end of last week, according to CME's Fedwatch tool. Investors expect a sharp easing in rates thereafter. The Conference Board will release consumer confidence data later in the day, which is expected to show business conditions deteriorated marginally last month, making a case for a softer Fed policy stance. The S&P 500 and Dow rose on Monday after the SVB deal was announced, while the Nasdaq Composite closed lower, led by a decline in technology-related stocks. Microsoft Corp (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL) Inc, Apple Inc (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) Inc continued to remain under pressure, falling in the range of 0.6% and 2.5%. At 9:43 a.m. ET, the Dow Jones Industrial Average was up 28.40 points, or 0.09%, at 32,460.48, the S&P 500 was down 8.01 points, or 0.20%, at 3,969.52, and the Nasdaq Composite was down 77.11 points, or 0.66%, at 11,691.73. Alibaba (NYSE:BABA) Group Holding jumped 7.2% after the firm said it plans to split its business into six main units covering e-commerce, media and the cloud. Shares of Lyft Inc (NASDAQ:LYFT) were up 6.7% after the ride-hailing firm hired former Amazon.com (NASDAQ:AMZN) executive David Risher as its new chief. Walgreens Boots Alliance (NASDAQ:WBA) Inc added 2.6% after the U.S. pharmacy's quarterly profit beat Wall Street expectations. Advancing issues outnumbered decliners by a 1.26-to-1 ratio on the NYSE, while decliners outnumbered advancers by a 1.15-to-1 ratio on the Nasdaq. The S&P index recorded five new 52-week highs and no new low, while the Nasdaq recorded 13 new highs and 40 new lows.
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By Shubham Batra and Amruta Khandekar (Reuters) - Wall Street's main indexes climbed on Tuesday after consumer prices in the world's largest economy rose in line with expectations, bolstering bets of a smaller interest rate hike by the Federal Reserve at its next meeting. Data showed that U.S. Consumer Price Index (CPI) rose 0.4% in February versus 0.5% a month ago. On a yearly basis, it rose 6.0% last month, compared with 6.4% in the previous month. Excluding the volatile food and energy components, the CPI increased 0.5% after rising 0.4% in January. In the 12 months through February, the so-called core CPI gained 5.5% after advancing 5.6% in January. Traders held on to bets of a 25-basis-point rate hike at the Fed's next meeting in March, with odds of a pause in hikes slipping a bit to 17%. Stocks have been hammered in the past few days following the collapse of SVB Financial Group and peer Signature Bank (NASDAQ:SBNY) and on fears of risks to other banks from sharp interest rate hikes by the Fed. Investors are hoping that the threat of a financial crisis will force the U.S central bank to ease up on monetary tightening. "In light of the weekend's events, I don't think it could have been a more perfect number. It's showing that inflation is trending the way that the Fed has kind of expected and wanted," said Kim Forrest, chief investment officer, Bokeh Capital Partners, Pittsburgh. "The Fed's not going to be super aggressive and hurt banks more by raising interest rates." Regional bank stocks rebounded after suffering double-digit losses over the past few days, with the KBW Regional Banking index up 7.7%. First Republic Bank (NYSE:FRC) jumped 52.7% before trading in its shares was halted for volatility. Shares of peer Western Alliance (NYSE:WAL) Bancorp were also halted. The S&P 500 banking index rose 3.9% after recording its biggest one-day percentage drop since June 2020 in the previous session. Meta Platforms Inc (NASDAQ:META) rose 5.8% after the Facebook-parent said it would cut 10,000 jobs in a second round of mass layoffs. Other major Big Tech and growth stocks such as Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL) Inc and Tesla (NASDAQ:TSLA) rose between 1% and 4% in early trade. At 9:38 a.m. ET, the Dow Jones Industrial Average was up 305.98 points, or 0.96%, at 32,125.12, the S&P 500 was up 57.28 points, or 1.49%, at 3,913.04, and the Nasdaq Composite was up 193.90 points, or 1.73%, at 11,382.74. Shares of ride-hailing companies Uber Technologies (NYSE:UBER) Inc and Lyft Inc (NASDAQ:LYFT) rose 7% and 8.6% respectively, after a California state court revived a ballot measure allowing app-based services to treat drivers as independent contractors rather than employees. United Airlines Holdings (NASDAQ:UAL) Inc fell 6.2% after the U.S. carrier on Monday forecast an unexpected loss in the current quarter. Advancing issues outnumbered decliners by a 7.92-to-1 ratio on the NYSE and by a 4.87-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week highs and no new lows, while the Nasdaq recorded 9 new highs and 36 new lows.
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(Reuters) - U.S. main stock indexes opened lower on Friday, with megacap growth companies under pressure after Treasury yields extended gains, while shares of Lyft (NASDAQ:LYFT) plunged as the ride-hailing firm forecast current-quarter profit well below estimates. The Dow Jones Industrial Average fell 28.34 points, or 0.08%, at the open to 33,671.54. The S&P 500 opened lower by 12.58 points, or 0.31%, at 4,068.92, while the Nasdaq Composite dropped 74.98 points, or 0.64%, to 11,714.60 at the opening bell.
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Wall St edges lower; Lyft sinks on dour outlook
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10000 $M MAY2023 $26 Cs trade 1.15-1.18 $WBD Jan 10 C $AMZN Jan13 95 C $RKT Jan13 8.5 C $CVNA Feb 7.5 C $WWW Mar 12.5 C $UBER Feb 35 C $JMIA Jan 4 C $FUBO Jan13 2 C $PLTR Feb 7 C $LYFT Jan 14.5 C $MS Mar 100 C $AFRM Jan13 11.5 C $WWE Feb 105 C $UNVR Mar 35/40 C Spd $PYPL Feb 60 P $AMC Feb03 2 P $FXI Feb 31 P $DOW Jan 56 P $GME Feb 18.75 P $UAL Jan-24 18 P $GME Feb 15 P $PBR Jan-24 10 P $MGM Feb10 36 P
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GOLDMAN SACHS ON FOMC PREVIEW: DOORDASH CUTTING 1000+ CORPORATE EMPLOYEES, LYFT LAYING-OFF 13% OF IT’S WORKFORCE, STRIPE AND CHIME BOTH CUTTING 12-14% OF HEADCOUNT, AND EVEN PEPSICO ANNOUNCING PLANS TO CUT HUNDREDS OF JOBS
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Next Earnings Date
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Lyft was founded in 2012 and is one of the largest transportation networks in the United States and Canada. As the world shifts away from car ownership to transportation-as-a-service, Lyft is at the forefront of this massive societal change. Its transportation network brings together rideshare, bikes, scooters, car rentals and transit all in one app. The Company is singularly driven by its mission: to improve people's lives with the world's best transportation.
CEO: Logan Green
HQ: 185 Berry St Ste 5000 San Francisco, 94107-2503 California