HyreCar initiated with a Buy at DA Davidson » 16:5907/2107/21/21
HYRE, UBER, LYFT
DA Davidson analyst Tom…
DA Davidson analyst Tom White initiated coverage of HyreCar with a Buy rating and $25 price target. The company is well-positioned to benefit from the "powerful" long-term secular growth in Ridesharing/Delivery and from several NT converging tailwinds that include economic re-opening, UBER/LYFT driver incentive spending, and recovering auto inventories, the analyst .tells investors in a research note.
Argo AI and Ford to launch self-driving vehicles on Lyft network by end of year » 07:0707/2107/21/21
Argo AI, Lyft (LYFT) and…
Argo AI, Lyft (LYFT) and Ford (F) are working together to commercialize autonomous ride hailing at scale. The collaboration brings together all of the parts necessary to create a autonomous ride hailing service, including the self-driving technology, vehicle fleet and transportation network needed to support a scalable business. Argo AI and Ford will deploy Ford self-driving cars, with safety drivers, on the Lyft network, as part of a network access agreement, with passenger rides beginning in Miami later this year and in Austin starting in 2022. As vehicles are deployed, Lyft users within the defined service areas will be able to select a Ford self-driving vehicle to hail a ride. This initial deployment phase will lay the groundwork for scaling operations, as the parties are now working to finalize agreements aiming to deploy at least 1,000 autonomous vehicles on the Lyft network, across multiple markets over the next five years. The collaboration is designed to scale autonomous vehicle deployment using market and safety data that helps define where self-driving technology can safely serve consumers. As part of the agreement, Argo will use anonymized service and fleet data from Lyft. In addition, Lyft will receive 2.5% of the common equity of Argo AI as part of the licensing and data access agreements to collaborate on the safe commercialization of autonomous vehicles.
GM, Stellantis poach executives from Amazon, Lyft, CNBC reports » 13:2607/2007/20/21
GM, STLA, AMZN, LYFT, NIO
General Motors (GM) and…
General Motors (GM) and Stellantis (STLA) have poached executives from Amazon (AMZN) and Lyft (LYFT) as well as Chinese electric vehicle start-up Nio (NIO), CNBC's Michael Wayland reports. GM is adding four new executives to its BrightDrop EV commercial delivery and logistics business, with Rachad Youssef, formerly vice president of software product management at Nio, becoming chief product officer, and Shaluinn Fullove, formerly Lyft's global head of people for autonomous technology and rideshare platforms, joining as chief people officer. Meanwhile, Stellantis has hired Ned Curic, Amazon's vice president of Alexa Automotive, as its first chief technology officer. Reference Link
|Over a week ago|
Lyft put volume heavy and directionally bearish » 15:5507/1507/15/21
Bearish flow noted in…
Bearish flow noted in Lyft with 11,897 puts trading, or 1.4x expected. Most active are Aug-21 52.5 puts and 7/23 weekly 51 puts, with total volume in those strikes near 3,200 contracts. The Put/Call Ratio is 2.13, while ATM IV is up over 1 point on the day. Earnings are expected on August 3rd.
Lyft to launch new Shared rides experience in Philadelphia, Chicago, Denver » 11:5007/1507/15/21
Lyft announced that,…
Lyft announced that, starting Monday, it will be launching a brand new Shared ride experience in Philadelphia, Chicago and Denver, with plans to expand to additional markets in the coming months. "We've reimagined Shared rides to make them more efficient, reliable and enjoyable for both riders and drivers," the company said. "We kept all the parts our community loved - saving money and making friends - and ditched the parts they didn't. For riders, this means a seamless experience and a more affordable, reliable ride. For drivers, this means increased utilization, decreased downtime and even more earnings opportunities." Reference Link
Toyota's Woven Planet unit to acquire mapping startup Carmera » 06:0507/1507/15/21
Woven Planet Holdings, a…
Woven Planet Holdings, a subsidiary of the Toyota Motor Corporation (TM), announced the acquisition of CARMERA, a U.S.-based spatial AI company, which specializes in bringing next-generation road intelligence to automated mobility at scale. This is the second major deal for Woven Planet in North America, following the April 2021 announcement to acquire Level 5, the self-driving division of Lyft (LYFT), the company said in a statement. Once the deal is closed, the CARMERA team will report into the Automated Mapping Platform organization of Woven Alpha, Inc. CARMERA will join Woven Planet Group as a wholly-owned subsidiary, expanding the company's footprint beyond its Tokyo headquarters by adding New York and Seattle offices to its planned offices in Silicon Valley and London. Financial terms of the deal have not been disclosed.
Alfi to install advertising screens in Uber and Lyft cars in Tampa/Orlando » 07:2107/0707/07/21
ALF, UBER, LYFT
Alfi (ALF) announced it…
Alfi (ALF) announced it will commence installations of Alfi tablets in vehicles operated by Uber (UBER) and Lyft (LYFT) drivers operating in the Orlando and Tampa areas. This continued roll-out to new locations beyond the Miami area expands upon the successful partnership Alfi has begun to develop with independently contracted Uber and Lyft drivers, providing them with an additional revenue stream while enhancing the passenger experience. In anticipation of its planned roll-out to a total of 10 major cities, Alfi has placed an order for an additional 10,000 Lenovo digital tablets.
Uber, Lyft spend millions on job perks to combat driver shortage, WSJ reports » 08:5907/0207/02/21
Uber (UBER) and Lyft…
Uber (UBER) and Lyft (LYFT) are reportedly spending millions of dollars in incentives in an effort to combat the current shortage of drivers in the U.S., Preetika Rana of The Wall Street Journal reports. This is only a short-term fix and executives say their current business models cannot sustain itself. "This is a moment of deep introspection and reflection for a company like ours to pause and say, 'How do we make the proposition for drivers more attractive longer term?" said Carrol Chang, Uber's chief of driver operations for the U.S. and Canada, according to the Journal. Reference Link
Lyft price target raised to $76 from $72 at Cowen » 09:1407/0107/01/21
Cowen analyst John…
Cowen analyst John Blackledge raised the firm's price target on Lyft to $76 from $72 and keeps an Outperform rating on the shares. Following a U.S. survey, the analyst expects "strong" Q2 sales growth. He now forecasts Q2 revenue of $714M, up 110% year-over-year and 3% above consensus, driven by active rider growth of 81%. Cowen's survey indicates accelerating Q2 monthly active users, both year-over-year and quarter-over-quarter as consumer mobility ramps in the U.S., Blackledge tells investors in a research note. The continues to view Lyft's valuation as attractive.
|Over a month ago|
Seattle Uber, Lyft drivers to get help amid union launch of support services » 15:2006/1706/17/21
On July 1, Seattle Uber…
On July 1, Seattle Uber (UBER) and Lyft (LYFT) drivers will become the first gig workers in the nation to benefit from legal protections against unwarranted termination when the City's groundbreaking Deactivation Rights Ordinance is implemented. On the same day, Drivers Union will launch new support services to help drivers appeal unwarranted deactivations, know their rights under the law, and receive additional job supports. These services will be provided under a contract announced by the City of Seattle Office of Labor Standards, following a competitive bidding process...Initially, Drivers Union will offer support services through in-person outreach where drivers congregate and on virtual communication platforms, with plans to open a support center as pandemic restrictions are phased out. Drivers Union support services for Uber/Lyft drivers will include: Consultation and support services todrivers facing deactivation; Direct legal representation to drivers in deactivation arbitration proceedings; Outreach,education, and support todriversabouttheirrights;and Culturally and language-specific services to drivers intheprimarylanguagesthat drivers speak. Reference Link