We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
UBER's Autocab Purchase Cleared by U.K. Competition Watchdog
Read MoreHide Full Article
Per a Reuters report, Uber Technologies’ (UBER - Free Report) previously announced acquisition of Autocab, a U.K.-based taxi-software company, has been cleared by the competition watchdog.
In January, the Competition and Markets Authority (“CMA”) began its investigation of the deal, announced last August, for potential impact on rivals.
The investigation revealed that there was “only limited indirect competition” between the two companies. Joel Bamford, senior director of mergers at the CMA, stated that, “the companies are not close competitors” and “will continue to face competition from rivals and Autocab’s customer taxi companies can switch to credible alternative providers if they wish”.
On this consent, an Uber spokeswoman said, “We are delighted that the CMA has approved our acquisition of Autocab. We look forward to working with the Autocab team to help local operators grow and provide drivers with genuine earnings opportunities.”
With coronavirus taking a significant toll on Uber’s mobility business, the company is trying to expand its delivery operations, which is experiencing a boom with order volumes from homebound customers surging. To this end, the company recently launched on-demand prescription delivery service in Chicago, IL and Atlanta, GA in partnership with Nimble. Chicago and Atlanta customers can avail these delivery services through the Uber Eats app.
Following an initial pilot program of the prescription delivery service in Dallas, Austin, and Houston in Texas, Uber first introduced the service in New York City; Miami, FL; Los Angeles; San Diego, CA and Orange County earlier this year.
Shares of Etsy, Facebook and Dropbox have rallied more than 400%, 74% and 44% in a year’s time, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. I Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
UBER's Autocab Purchase Cleared by U.K. Competition Watchdog
Per a Reuters report, Uber Technologies’ (UBER - Free Report) previously announced acquisition of Autocab, a U.K.-based taxi-software company, has been cleared by the competition watchdog.
In January, the Competition and Markets Authority (“CMA”) began its investigation of the deal, announced last August, for potential impact on rivals.
The investigation revealed that there was “only limited indirect competition” between the two companies. Joel Bamford, senior director of mergers at the CMA, stated that, “the companies are not close competitors” and “will continue to face competition from rivals and Autocab’s customer taxi companies can switch to credible alternative providers if they wish”.
Uber Technologies, Inc. Price
Uber Technologies, Inc. price | Uber Technologies, Inc. Quote
On this consent, an Uber spokeswoman said, “We are delighted that the CMA has approved our acquisition of Autocab. We look forward to working with the Autocab team to help local operators grow and provide drivers with genuine earnings opportunities.”
With coronavirus taking a significant toll on Uber’s mobility business, the company is trying to expand its delivery operations, which is experiencing a boom with order volumes from homebound customers surging. To this end, the company recently launched on-demand prescription delivery service in Chicago, IL and Atlanta, GA in partnership with Nimble. Chicago and Atlanta customers can avail these delivery services through the Uber Eats app.
Following an initial pilot program of the prescription delivery service in Dallas, Austin, and Houston in Texas, Uber first introduced the service in New York City; Miami, FL; Los Angeles; San Diego, CA and Orange County earlier this year.
Zacks Rank & Key Picks
Uber carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Internet - Services space are Etsy (ETSY - Free Report) , Facebook and Dropbox (DBX - Free Report) . While Etsy sports a Zacks Rank #1 (Strong Buy), Facebook and Dropbox carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Etsy, Facebook and Dropbox have rallied more than 400%, 74% and 44% in a year’s time, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. I Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>