Tech-heavy indices were little moved on Wednesday, while small caps and blue chips surged as investors rotated into lagging names, signaling a broadening market rally.
Lyft’s second quarter performance was mixed, falling short of Wall Street’s revenue expectations but delivering stronger-than-expected non-GAAP profits. Management cited robust rider growth and increased engagement, with active riders expanding by 2.4 million year-over-year. CEO David Risher emphasized operational improvements, including a lower driver cancellation rate and growth in high-value partnerships, as key contributors to the quarter’s results. He highlighted, “Our marketplace is thriving, setting us up for an even stronger second half of the year.” Despite the revenue miss, management pointed to record highs in gross bookings and adjusted EBITDA, driven by improved driver retention and new rider acquisition.
Uber CEO Dara Khosrowshahi welcomed Tesla's entry into the robotaxi market, saying it validates the trillion-dollar opportunity in autonomous driving and emphasized that the space is big enough for both competition and collaboration.
Baidu and Lyft partner to launch autonomous ride-hailing services in Europe, using Baidu's RT6 vehicles. Both companies' shares rise after announcement.
Under Ellison’s leadership, Skydance released films like ‘Top Gun: Maverick,’ ‘Mission Impossible: Dead Reckoning’ (Parts 1 and 2), and ‘World War Z,’ among others.
Despite Elon Musk's ambitious promises, Tesla Inc. (NASDAQ: TSLA) is facing skepticism from investors due to its recent financial performance and the CEO's unmet deadlines for autonomous driving.
Trade tensions between China and the U.S. are beginning to thaw, and these two stocks are poised to benefit most from a re-energized Chinese stock market.
Over the past week, Uber has inked several agreements to ramp up its robotaxi operations amid heightened competition from companies like Tesla and Alphabet’s Waymo.
