Lyft investors sue over earnings typo that sparked buying frenzy
Lyft is being sued by shareholders for alleged securities fraud after errors in recent earnings reports on key profit metrics sent the ride-hailing company’s stock price wildly up and then down. Shareholders allege in a proposed class action lawsuit Tuesday that Lyft initially predicted on Feb. 13 that its profit margins would expand by 500 […]
Teenager arrested in killing of Afghan interpreter working as Lyft driver in DC
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Texas Lyft driver says passenger choked him with his own seatbelt: ‘He was trying to kill me’
A Lyft driver was driving his assailant to his destination in Harris County, Texas, when he was attacked by a passenger and strangled with his own seatbelt. Driver Kehinde Ayola, who was choked by a passenger while traveling on the highway, said he may never be able to work in a rideshare job again or […]
Lyft stadium rides rose in 2023 on Taylor Swift, Beyonce, sports
Lyft CEO David Risher said that if a driver is late for an airport pick-up in “The Claman Countdown,” the company will give the client a credit. Lyft said stadium rides were “boosted” last year by high-demand concerts and sporting events. The rideshare company said Tuesday that “high-attendance stadium” events such as Taylor Swift’s “Ellas […]
Typo in earnings report sends Lyft stock soaring by 67%
A typo in Lyft’s earnings report exaggerated a key profit metric by a factor of 10, sending the stock soaring 67% late Tuesday before management corrected the error and the stock price plummeted. Late Tuesday after the close of regular trading, the ride-hailing app said in a slideshow to investors that its gross profit margin […]
Stocks making the biggest moves premarket: Lyft, Robinhood, Zillow, Kraft Heinz and more – CNBC
Check out the companies that made headlines before the bell: Lyft — Shares rose 21% after the ride-hailing company reported better-than-expected fourth-quarter results and issued better-than-expected guidance. In its most recent quarter, Lyft posted adjusted earnings of 18 cents per share, beating the LSEG consensus estimate of 8 cents per share. Sales were $1.22 billion, […]
Uber, Lyft drivers plan strike on Valentine’s Day to demand higher pay: ‘TIRED of being mistreated’
Thousands of Uber, Lyft and DoorDash drivers are planning a strike on Valentine’s Day to demand higher pay and better security. justice for app workersA national coalition representing more than 130,000 rideshare and delivery drivers announced last week that it was calling on its members to strike on Wednesday for “fair pay” and “safety.” “Uber, […]
Uber, Lyft, DoorDash drivers to strike on Valentine’s Day seeking fair pay
Evercore ISI Senior Managing Director Mark Mahaney insisted on raising Uber’s price target and explained his reasons for distancing himself from Snap on “Barney & Company.” Thousands of Uber, Lyft, and DoorDash drivers are expected to strike across the United States on Valentine’s Day to demand fair wages. Justice for App Workers, a coalition representing […]
DoorDash, Uber, Lyft drivers plan Valentine’s Day strike
Ride-sharing and delivery drivers are planning strikes in several U.S. cities near airports on Valentine’s Day. Justice for App Workers — National Coalition of Ride Sharing and Delivery Drivers — announced last week The plan is to attack on Wednesday. The coalition wrote that workers want, among other things, fair wages and safety measures. The […]
Uber, Lyft, DoorDash drivers to strike on Valentine’s Day for fair pay
Thousands of drivers from ride-hailing platforms Uber, Lyft, and food delivery app DoorDash will strike across the U.S. on Valentine’s Day to demand fair wages, driver groups announced Monday. The call for a strike is the first since Uber and Lyft went public in 2019, with two of the groups announcing drivers will picket at […]