Lyft stock was downgraded to Hold as the ridesharing company is projected to miss analyst estimates for app downloads amid increased competition with Uber.
Happily, for Uber Technologies (NYSE: UBER) shareholders, their company was motoring ahead nicely. Its stock ended up cruising to a nearly 3% gain on the day, thanks to a positive new research note from an analyst. The prognosticator in question was Needham & Company's Bernie McTernan.
Uber Technologies Inc. says it is bringing its shared rides offering back to Canada with a new name. The ride-hailing giant says Toronto, Montreal and Vancouver will get access to UberX Share later this week. UberX Share charges passengers up to 20 per cent less in exchange for sharing a ride with strangers headed to nearby destinations. UberX Share was previously known as UberPool and was paused in 2020, when the COVID-19 pandemic pushed people to physically distance. Since the pause, Uber spen