For Immediate Release
Chicago, IL – December 20, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Uber (UBER - Free Report) , The AES Corp. (AES - Free Report) , CIRCOR International (CIR - Free Report) , Edwards Lifesciences Corp. (EW - Free Report) and Zynerba Pharmaceuticals (ZYNE - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Uber Formally into the Staffing Business
Uber has been testing its ability to match gig workers to jobs in Chicago and the company is now formally entering the business with a Miami-Dade launch. So people looking for work can sign up to Uber Works (as it’s called), where they can hope to make $11-16 an hour.
Uber Works was easy enough to begin because the core Uber technology could be adjusted for the new service. But this time round, Uber is playing safe. It is partnering with traditional staffing companies for the jobs, which will “employ, pay and handle worker benefits.” Uber technology will simply help make the connection. So the driver problem Uber is seeing in ride-hailing won’t repeat here.
The idea is to do the kind of things that will enable the company to generate a profit by the promised 2021. This is obviously a tall order given the constant need to invest in every aspect of the business, whether it generates sizeable revenue like ride-hailing and Eats or not.
Of course, staffing isn’t the easiest way to do it since it’s a very crowded market with outfits like Bacon, Catapult, Gig, JobToday, Limber, Rota, Shiftgig, Shiifty, Snag, Syft and many others that are already fighting for market share. Uber may be able to leapfrog these others and scale up quickly if it starts recruiting from its huge driver base and expands its partners to cross-country and global staffing companies.
Recruiting from its base of drivers may also alleviate some of the pressure it is seeing from labor law amendments in its home state California. The amendment that goes into effect on Jan 1 2020 seems targeted at ride-hailing services, since most others that it could impact were granted exemptions. It will require Uber to offer its contract workers minimum wage, workers’ compensation and other benefits.
We still don’t know where the service will launch next, but it does position the company as more of a technology platform than a ride-hailing service as we have come to know it.
Uber shares lost 31.3% in the last 6 months, but investors appear to be taking this news well. The shares carry a Zacks Rank #3 (Hold).
Stocks you should buy instead are The AES Corp., CIRCOR International, Edwards Lifesciences Corp. or Zynerba Pharmaceuticals since they all have a Zacks Rank #1. You could also see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.