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Here's Why Lyft, Uber, Twitter And Baidu Are Moving

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Here's Why Lyft, Uber, Twitter And Baidu Are Moving

One of the most common questions traders have about stocks is “Why Is It Moving?”

That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving.

Here’s why shares of Lyft, Uber, Twitter and Baidu are moving.

Lyft Inc (NASDAQ: LYFT) shares are trading higher after the company reported fourth-quarter earnings results Tuesday afternoon. Earnings per share fell 11.32% year-over-year to ($0.59), which beat the estimate of ($0.72). Revenue of $569 million declined by 43.96% from the same period last year, which beat the estimate of $562.49 million.

The biggest news? CFO Brian Roberts provided some color on the path to profitability, potentially coming this fiscal year.

“The fourth quarter and our plans for first-quarter serve as visible proof points of the extent to which we've reduced our expense base. Given the impact of new efficiencies and our lower cost structure, we're even more confident that we'll be able to achieve adjusted EBITDA profitability by fourth-quarter,” Roberts stated during the conference call.

“In fact, based on the improvements we've made, there is a chance we can achieve profitability in third-quarter. Obviously, pulling in profitability would require a strong summer rebound. However, the fact that this is now even a possibility in the third-quarter time frame should increase investor confidence,” Roberts concluded.

Lyft operates a peer-to-peer marketplace for on-demand ride-sharing in the United States and Canada. Lyft's marketplace lets drivers provide their transportation services to riders.

Shares of Uber Technologies Inc (NYSE: UBER) are also trading higher in sympathy with Lyft’s earnings results. Uber reports fourth-quarter earnings after today’s close.

Shares of Twitter Inc (NYSE: TWTR) are trading higher after the company reported better-than-expected fourth-quarter EPS and sales results. The company also reported fourth-quarter DAUs were up 24% year over year.

Shares of Baidu Inc (NASDAQ: BIDU) are trading higher after CNBC reported the tech company is in talks to raise money for a stand-alone artificial intelligence semiconductor company.

Baidu provides Internet search services in China and internationally and is often referred to as the “Google of China."

 

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