Uber Technologies Trading forecasts and signals

Lawyers for the law firm Slater Slater Schulman filed a lawsuit against Uber in the San Francisco County Superior Court. It is alleged that the women were abducted in several states, sexually assaulted, harassed and beaten by drivers cooperating with the taxi order aggregator Uber. The law firm said it has about 550 clients with claims against the taxi aggregator, and at least 150 more cases are under investigation.The lawsuit says that back in 2014, Uber became aware of the attacks, but they continue to this day. Last month, the company released its second U.S. safety report, in which it said there were 998 reported cases of sexual assault in 2020, including 141 reports of rape. Uber reported that it received 3,824 such messages in 2019 and 2020.Lawyers claim that Uber tried to recruit new drivers as quickly as possible due to high demand, so it did not comply with traditional data verification standards. For example, former CEO Travis Kalanick deliberately preferred to hire drivers without fingerprinting or checking them against FBI databases, and the current CEO continued this policy.Some taxi drivers who collaborated with Uber have already been found guilty of raping and murdering passengers, and today, for the women who filed a lawsuit in San Francisco, the question is what security measures the company takes for passengers, including women, and to what extent it is responsible for the crimes that they commit not employees of the company, but taxi drivers who have signed a cooperation agreement with this taxi aggregator. This process, most likely, will not be short.In the postmarket, Uber's stock prices fell by ...

The session on July 11, the main American stock exchanges ended in the red zone. The S&P 500 fell by 1.15% to 3,854 points, the Dow Jones adjusted by 0.52%, the Nasdaq fell by 2.26%. Ten of the 11 sectors included in the broad market index closed in the red. Only representatives of public utilities remained in the green zone (+0.64%).Company newsInnova (INVA: -0.1%) will acquire La Jolla Pharmaceutical (LJPC: +81.1%) at a price of $6.23 per share in cash.Alibaba Group (BABA: -9.4%) was fined by the Chinese government for non-compliance with antitrust rules and non-disclosure of information about several transactions. The same penalty was applied to Tencent Holdings (700: -1.29%) and some other companies.Uber Technologies (UBER: -5.2%) after publication in The Guardian stated that it recognizes the mistakes made and is working on changes. We are talking about aggressive lobbying actions under CEO Travis Kalanick, including a secret deal with Emmanuel Macron. In addition, the company agreed that it had no right to work in many jurisdictions where it provided services, and also admitted concealing evidence from the authorities and ignoring the risks of violence for drivers.We expectToday, investors' attention is focused on several factors that could lead to a significant slowdown in the global economy.The epidemic situation in China worsened after the first case of the contagious COVID-19 BA variety was detected in Shanghai.5. In Macau, all casinos were closed for a week. In the event of a negative development of events, the pressure in the logistics chains may continue to increase. Investors are also concerned about the state of affairs in Europe: EU leaders suggest that Russia may not resume gas supplies after a two-week shutdown of the Nord Stream for maintenance. According to Goldman Sachs estimates, in this case, the bills of European households for electricity could increase by 65%.This week, bidders expect the publication of consumer inflation data in the United States for June. The consensus forecast calls for an increase from 8.6% to 8.8%. If the CPI breaks through the 9% mark, it may provoke further sales in stocks. Against this background, discussions continue to circulate in the media about the risk of a mistake by the Fed in the fight against rising prices. Also, in the latest notes of investment banks, doubts began to appear about the sustainability of job growth and consumer activity.Trading on July 12 on the sites of Southeast Asia ended in the red zone. China's CSI 300 lost 0.94%, Hong Kong's Hang Seng fell 1.12%, Japan's Nikkei 225 adjusted 2.63%.Brent crude futures are quoted at $104.8 per barrel. Gold is trading at $1,732.7 per troy ounce.In our opinion, the S&P 500 will hold the upcoming session in the range of 3820-3880 points.MacrostatisticsNo significant macro statistics are scheduled to be published today.Sentiment IndexThe sentiment index dropped by one point to 28.Technical pictureThe closest support for the S&P 500 remains the range of 3600-3660 points. The RSI indicator is in the neutral zone, and the MACD signals the continuation of an uncertain positive trend. Quotes are approaching the upper limit of a narrow descending channel, which, due to the lack of positive news drivers, may lead to a continuation of the "bearish" trend.ReportsToday PepsiCo will publish its second quarter reports. Analysts' consensus puts the company's revenue for the second quarter at $19.5 billion with earnings per share of $1.74, which means growth of 1.4% and 1.16% YoY, ...

The International Consortium of Investigative Journalism said that the American taxi aggregator Uber Technologies lobbied for interests, evaded taxes and interfered with the work of regulatory authorities in different countries as its business internationalized. Journalists refer to internal correspondence and company documents that indicate that Uber ignores the laws and neglects the rights of employees. The investigation refers to the period when the head of the company was Travis Kalanick, who left the post in 2017.The investigation also says that Uber used special technologies in order to interfere with the investigations of government agencies regarding the operation of the service. So, in at least six countries, Uber resorted to emergency shutdown of servers to prevent the authorities from collecting evidence during searches.Journalists claim that the company evaded taxes due to transactions in Bermuda and other offshore companies, and then sought to distract the attention of the authorities from their tax obligations by helping them collect taxes from drivers.At the moment, this is stated in the materials of the International Consortium of Investigative Journalism (ICIJ) and does not yet have an evidence base. In case of initiation of real criminal cases, we can expect a decline in quotations to the area of historical lows at $13.71 per share.Uber shares are down almost ...

Japanese automaker Toyota Motor Corp. halved the stake in the American Uber Technologies Inc and currently owns 5.13 million shares.Despite the fact that Toyota has been investing in Uber Technologies shares since 2016, its share in the capital of this company was very small, not exceeding even 1% of the shares, which, apparently, was due to the Japanese interest only in driverless driving technologies, but Uber has already sold this business.Today, Toyota has only 0.26% of Uber shares, which at that time were worth a total of $183 million. Today, the value of the Japanese corporation's stake in Uber has fallen by 40% compared to March of this year to $110 million. Nevertheless, shares of Uber Technologies are growing by 0.8% today in the premarket in the United ...

A group of Uber Technologies and Lift Inc drivers accused the companies of unfairly controlling how much passengers are charged for trips.An antitrust lawsuit filed in San Francisco Superior Court alleges that companies do not inform drivers of pricing algorithms and high prices for trips lead to lower revenue. Drivers claim that if they can offer consumers lower prices, it will provide them with more competition.If it is possible to prove in court that there is collusion, then both companies can be fined and will get a negative reflection on their reputation. Lyft Inc. shares they are already trading at historical lows, Uber is very close to them, the prices for their purchases are quite favorable, but it is better to wait for the court's ...

The market the day beforeThe session on June 21, the main American stock exchanges ended in the green zone. The S&P 500 rose 2.45% to 3,764 points, the Dow Jones rose 2.15%, the Nasdaq added 2.51%. All 11 sectors included in the broad market index showed strong growth. Energy companies (+5.14%) and consumer sector enterprises (+2.82%) looked better than the market. Representatives of the raw materials industry moved up a little slower (+1.47%).Company newsKellogg Company (K: +1.95%) plans to split its business into three independent companies.JetBlue Airways Corporation (JBLU: -1.64%) increased the price of a potential takeover for shareholders of Spirit Airlines, Inc (SAVE: +7.94%) from $31.50 per paper to $33.50.Uber Technologies, Inc (UBER: -0.23%) returns the service of joint trips to nine US cities.We expectThe main US stock indexes unexpectedly turned up confidently on the eve, although there were no strong fundamental prerequisites for this, and negative factors retain their influence. According to data released yesterday, home sales in the secondary market of the States in May decreased by 3.5% mom, to 5.41 million. Rising mortgage rates and house price inflation are weakening consumer demand. Also, another surge in the incidence of COVID-19 in Chinese Shenzhen and Macau does not add optimism, which is why additional quarantine restrictions may be introduced in these cities.An important event for investors this Wednesday will be the speech of Fed Chairman Jerome Powell before the Senate Banking Committee. The market is waiting for new information regarding future interest rate hikes and fresh comments on the state of the American economy.The yield of ten- and two-year treasuries on the eve fell by 5 bps compared with the values on June 20 — to 3.23% and 3.15%, respectively. The indicator for 30-year bonds reached 3.39%.Trading on June 22 at the sites of Southeast Asia ended in the red zone. Japan's Nikkei 225 declined by 0.37%, Hong Kong's Hang Seng lost by 2.56%, and China's CSI 300 dropped by 1.27%. EuroStoxx 50 has been declining by 1.98% since the opening of the session.Brent crude futures are quoted at $110.14 per barrel. Gold is trading at $1826.1 per troy ounce.In our opinion, the S&P 500 will hold the upcoming session in the range of 3710-3760 points.MacrostatisticsThere are no significant macrostatistics publications planned today.Sentiment IndexThe sentiment index dropped one point to 26.Technical pictureThe S&P 500 remains at the lower boundary of the descending channel, from which it is able to fall into the range of 3600-3700 points, which is not contradicted by the absence of a MACD signal for a reversal. The RSI is in the neutral ...

The transport company Uber has entered into a partnership with IT Taxi, the largest taxi dispatch service in Italy. Thus, Uber is expanding its presence in the country. The deal will allow 12 thousand IT Taxi drivers to take rides through the Uber app in 90 cities of the country.This step will help Uber with the problem of a shortage of drivers that many taxi aggregators have faced.Uber declined to disclose the financial terms of the deal. A representative of the company said that the taxi service charges a fixed commission for access to the platform. In Spain, the rate charged by Uber is 12%.Uber shares on the NYSE on May 24 fell by 9.38% to $21.55 per ...

Uber Eats, an online food ordering and delivery platform, together with Serve Robotics, a robotic food delivery company, and Motional, an autonomous vehicle technology company, has launched two unmanned food delivery projects in Los Angeles.The collaboration with Motional was announced last December, and this is the first time that Uber has partnered with a fleet provider, as well as the first time that Motional is trying its hand at autonomous delivery. Up to this point, the company Motional specialized in robotaxi, having entered into partnerships with companies such as Lyft and Via. Serve Robotics is actually a division of Uber, so the partnership of these two companies is not surprising.Both projects start small and deliver food from only a few vendors. The Serve program will focus on short trips in West Hollywood. The Motional program will deal with longer-distance delivery in Santa Monica.Uber shares on the NYSE premarket on May 17 are growing by 2.37%, to $24.15 per ...