Monthly Archives: October 2024

Uber is changing into a software company:Uber Stock Plunges as Q3 Bookings Disappoint

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UBER reported third quarter results beating Wall Street expectation on both earnings.

The rideshare platform posted revenue of $11.19 billion surpassing estimates of $10.99 billion.

Uber stock faced pressure due to weaker than expected gross bookings and reduced fourth quarter outlook.

Uber is demand network Jang states arguing that technologies like Waymo and Tesla TSLA vehicles will take time to impact the market.

scout suv traveler

scout suv reservations

Uber global network software and 24/7 operation provide advantage that companies may desire to use in future.

These positive metrics Uber stock faced pressure due to weaker than expected gross booking and reduce fourth quarter outlook.

Uber CEO Says Company Continues to Advance AV Strategy

“We delivered yet another record quarter of profitable growth at global scale reflecting strength of our platform which now has over 250 million Uber One members”

Uber Chief Executive Officer CEO Dara Khosrowshahi said adding that company is continuing to advance our autonomous strategy.

Uber shares have gained close to 30% since begin of year though down from record levels reached in days following Tesla TSLA robotaxi event this month.

Uber stands to suffer if Elon Musk rolls out driverless robotaxi and disrupt the ride hailing industry.

Uber Technologies shares are dropping Thursday as ride hailing giant posted weaker than expected gross bookings in third quarter.

Uber top and bottom line results handily beat analysis estimates.

The company reported revenue for period of $11.19 billion versus the $10.98 billion estimate.

Net Income of $2.6 billion beat estimates by margin includes a $1.7 billion pre tax benefit from gains in Uber revaluation of its equity investments.

The company said gross booking rose 16% year over year to $41 billion in third quarter below estimates from Visible Alpha of $41.3 billion.

Trips grew 17% to 2.9 billion in line with estimates.

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american airline

The company freight business reported $1.31 billion revenue for quarter an increase of 2$ year over year.
Uber mobility section reported $6.41 billion revenue up 26% fr4om year before.
The company delivery segment reported $3.47 billion revenue up 18% from year prior analysts were expecting $3.43 billion.
Uber reported adjusted EBITDA of $1.69 billion up 55% year over year and above the $1.64 billion by analysts polled by StreetAccount.
The company reported a net income of $2.6 billion or $1.20 per share up from $221 million or 10 cents per share in same quarter past year.
Uber said its net income consist a $1.7 billion pre tax benefit from gains related to reevaluation of its equity investments.
Uber revenue rises 205 in third quarter from $9.3 billion a year before.
The company said $40.97 billion in gross bookings for period which is low $41.25 billion expected by analysts.

 

ABC news affiliate broadcasts fake election results showing Kamala Harris winning Pennsylvania

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The broadcaster clarified the numbers were random data test and beg pardon for confusion ensuring it would not repeat again.

ABC affiliate WNEP-TV aired election results erroneously showing VP Kamala Harris winning Pennsylvania a week before Election Day.

The image which showed VP Harris win with 52% of vote over Republican challenger Donald Trump 47% popped up during station Sunday coverage of the Formula 1 Mexico Grand Prix sparking online theories and cri

alfred e smith dinner

al smith dinner 2024 televised

ticism for network.

 

Kamala Harris and Donald Trump are competing close election in state of Pennsylvania with Real Clear Politics showing Trump holding a slim 0.7% lead 48.2% to Harris 47.5%.

The VP has a edge in polling averages.

On November 5 Americans will decide who succeed President Joe Biden Back in 2020.

Biden won Pennsylvania edging out Trump by 80,555 votes a margin of 1.17% according to Post.

Pennsylvania 19 voting position are important in fight to hit the 270 mark need to win electoral College.

The 538 presidential prediction adds Pennsylvania is going to close with Trump tipped to win about half the time.

The cheating game is on one user said accusing ABC of partial.

elon petition

election

ABC is rigging it for the Democrats revoke their license.

“I am screenshotting this and if same thing shows up on November 5 we will talk”

ABC has faced backlash this election season with critics accusing the network of leaning toward Democratic perspectives during recent Harris Trump debate where some viewers felt the moderators showed Harris undue favor.

 

Krispy Kreme giving away free doughnuts on Election Day

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Krispy Kreme revealed it will be giving free original doughnut to all consumers on Election Day which is Tuesday Nov. 5.

lamars donut

lamar’s donuts wichita ks

They will be passing out “I voted” stickers while supplies last especially for those who voted early and desire a fresh sticker along with their fresh doughnut the company added in release.

The polls will be open from 6:30 am to 7:30 pm on Election Day there is still time to vote early as well.

The treat limited to one per guest will be available at participating US locations.

“Participating in our democracy should be celebrated. So we are happy to sweeten everyone day with free Original Glazed doughnuts on Election Day” said Dave Skena global chief brand officer for Krispy Kreme in press release.

Krispy Kreme is celebrating “doughmocracy”

Krispy Kreme is giving voters sweet incentive this Election Day.

The doughnut company and coffeehouse chain is celebrating “doughmocracy” once again for 2024 presidential election at participating US stores.
Fast food chains participating in good deals included Baskin Robbins where instead of candy trick or treaters can treat themselves to 31% off of ice cream scoops ordered on app for Halloween.
Burger King is happy to share their new Addams Family menu which runs through Nov.10.
Chipotle is getting into spooky spirit with their $6 “Boorito” deal perks can be found at Pizza Hut.
Raising Cane Sonic and Wendy while supplies last.
In 47 states plus District of Columbia Guam Puerto Rico and Virgin Islands voters can cast their votes early and in person according to National Conference of State Legislatures.
Krispy Kreme participated in giveaways in past year in March for Super Tuesday when 16 states hosted presidential primaries.
The nationwide deal famous as Krispy Kreme Super Twosday and allowed for consumers to pick up on two doughnuts no purchase.
Those who can not wait full week for the chain Election Day deal.Krispy Kreme has sweet treat in time for Halloween.
On Thursday Oct 31 costumed customers can sink fangs into free Original Glazed doughnut at Krispy Kreme again no purchase required.
Burger King to share their new Addams Family menu which runs through Nov 10
lamars donut

lamar’s donuts wichita ks

Eli Lilly Stock tumbles after drug tycoon misses estimates and slashes profit guidance

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Eli Lilly on Wednesday feel short of profit and revenue for the third quarter weighed down by sales of its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro.

Skyrocketing demand for injectable weight loss and diabetes drug has forced both Eli Lilly and main rival Novo Nordisk to invest billion to spike manufacturing capacity.

The drugmaker slashed full year profit guidance to range of $13.02 to $13.52 per share.

Elli Lilly on Wednesday fell short of revenue and profit expectation for third quarter weighed down by disappointing sales of its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro and its full year adjusted profit guidance.

Eli Lilly lowered the high end of its revenue outlook for year and now expect sales of between $45.4 billion and $46 billion.

The September period was Zep Bound third full quarter on US market after winning approval from regulators almost a year before.

The weekly injection raked in $1.26 billion in sales for period below $1.76 billion analysts expected according to StreetAccount.

Eli Lilly supply start to ease this year. The Food and Drug Administration drug diabetes said all doses of Mounjaro and Zepbound are available in US after long shortages.

Patients may not always be able to fill their prescription for those drugs at special pharmacy.

The company stock over 12% in morning trading. Shares of Nova Nordisk fell over 3%.

Eli Lilly lowered the high end of its revenue outlook for year and now expects sales of between $45.4 billion and $46 billion.

The company guidance called for revenue as $46.6 billion.

Mounjaro posted $3.11 billion in revenue for third quarter over double what it booked in same time a year before.

Analysts expected $33.77 billion in sales for diabetes treatment according to Street Account.

The September time was Zepbound third full quarter on US market after approval from regulators almost a year before.

Demand in the US has far outpaced supply for Lilly incretin drugs like Mounjaro and Zepbound over past year.

Both treatment mimic gut hormone to tamp down a person appetite and regulate blood sugar.

Eli Lilly supply worries start to ease earlier this year. The Food and Drug Administration drug database add all doses of Zepbound and Mounjaro are available in US after shortages.

The agency warns that patients may not be fill their prescription for those drugs at particular pharmacy.

The FDA decision to remove tirzepatide the active ingredient in zepbound and Mounjaro from its list has drawn fierce opposition for compounding pharmacies that make customized and cheaper alternatives to Eli Lilly branded drugs.

Pharmacies are calling for the FDA to reconsider its decision as both Eli Lilly and Novo Nordisk tried to crack down on unapproved version of top selling drugs.

For the third quarter Ely Lilly record net income of $970.3 million or 1.07 per share compared with net loss of $57.4 million or 6 cents per share during third quarter of 2023.

Eli Lilly posted earning of $1.18 per share for most recent quarter.

 

Super Micro shares plunge 35% as auditor after raising concerns months before

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Super Micro was hit with short seller report this year has delayed filing its financial statement for 2024 and under federal investigation.

Young and Ernst resigned as Super Micro auditor past week after raising concerns over company internal controls, board independence and accounting practices.

Super Micro makes computers that companies use as servers for websites, data storage and applications consisting AI algorithms.

The company customer consist of mega players in AI like AMD, Intel.

Super Micro has run into trouble with regulators over accounting practices.

It paid a $17.5 million penalty to Securities and Exchange Commission in 2020 after regulator alleged it prematurely and recorded revenue.

The company hired law firm Cooley and forensic accounting firm to review Super Micro internal controls.

The company said in regulatory filing.

Representatives for Super Micro and Ernst and Young did not return a request for comment.

super micro computer

super micro news

EY had been hired to audit Super Micro for first time 2024 financial year the company added.

Super Micro has not issued its financial statements for this year and under federal investigation.

“We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management and the Audit Committee representation.”

EY said in resignation letter EY concerns were raised before to short seller report that took aim at Super Micro financial controls and accounting practices.

The company hired law firm Cooley and forensic accounting firm to review Super Micro internal controls.

Review remains ongoing the company said in regulatory filing.

 

Dogecoin Bets rises to $1.3B as Trump popularity looks Dodge Rocket 15%

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Stablecoin margined futures on DOGE have raised with DOGE denominated bets climbing 33% since Sunday.

Elon Musk conversation on creating a D.O.G. E for government efficiency combined with Trump promise to consist Musk in government efficiency commission if re elected have fueled  emotions among traders.

Interest in Dogecoin future is all time highs from April with 33% increase in open interest since Sunday standing a 8 billion tokens.

Traders are this price movement to Trump famous and  potential establishment of Department of Government Efficiency.

DOGE prices are over than 30% since CoinDesk first reported on D.O.G.E trade gaining interest among traders.

Musk has gotten closer to Trump in past few months with increased donations and endorsements.

He has talked about creating a Department of Government Efficiency named as D.O.G.E in quest to make government spending more efficient.

Future interest in dogecoin DOGE is rising and nearing record levels from April thanks to renewed trading interest in token on chance of becoming part of Republican Donald Trump administration.

DOGE denominated futures have risen 33% since Sunday to 8 billion token as of European morning hours Tuesday.

12% away from lifetime record of 9 billion DOGE in open interest.

Higher open interest in token can lead to volatility as contracts near expiration.

Traders rush to close roll over or adjust positions which can lead to price movements.

DOGE prices are up 15% in past 24 hours.

CoinGecko shows after Elon Musk at Trump rally and later X post of himself with DOGE avatar.

Traders are the price spike as play on Trump popularity as reported.

DOGE denominated futures have spike 33% since Sunday to 8 billion tokens as of European morning hours Tuesday.

12% away from lifetime record of 9 billion DOGE in open interest.

OI refers to number of outstanding derivative contracts such as futures or options have not been settled.

bluesky

elon musk tweet

High open interest show there is interest in asset. When open interest increases along with spike prices it suggest new money is coming into market indicating trend such as Tuesday.

In stablecoin shows the DOGE bets have raised from $850 million to $1.3 billion CoinGlass data shows.

Who is Tony Hinchcliffe?Controversial Comedian who will never apologize for offensive jokes

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The comedian compared Puerto Rico to garbage at Donald Trump Madison Square Garden rally.

Tony Hinchcliffe popular over the years by insulting audience members his fellow celebrities and comics.

Hinchcliffe Instagram account has been inundated with angry comments from slamming him for the joke.

Tony Hinchcliffe is no stranger to controversy having made name for himself over the year by insulting audience members his fellow celebrities and comics.

Bad Bunny

tony hinchcliffe joke

“There is literally a floating island of garbage in the middle of the ocean right now”

Hinchcliffe add “I think its called Puerto Rico.”

The comedian compared Puerto Rico to garbage when he took to stage at Donald Trump rally at Madison Square Garden on Sunday night.

The comments fell flat in stadium and have led to condemnation from Republicans,Democrats and celebrities.

Trump campaign is attempting to distance itself from remarks as president election enters the final week.

Hinchcliffe has made jokes about Sean Diddy Combs George Floy and Baltimore Bridge collapse.

Hinchcliffe wrote jokes for celebrities on Comedy Central Roast before relocated to Austin.

Texas and launched the Kill Tony podcast with co host Brian Redan.

The podcast gives wanna be comedian a shot at fam by making them stand up set for 60 seconds before judges give often brutal feedback.

Kill Tony has 1.89 million subscribers on YouTube and broadcast to audience from Madison Square Garden in August where it grossed $3m.

He moved to Los Angeles in 2007 and joined comedy circuit opening for Joe Rogan.

The comedian grew up in Youngstown Ohio which detailed as the crime capital of America at the time. Hinchcliffe added at school he was the class clown.

His refusal to apologize came after he was dropped by representatives in 2021 following a racial slur he made about American Chinese comedian Peng Dang.

Images of him insulting Dang went viral and fallout ensued.

I knew that what I had done was not wrong Hinchcliffe said.

comedian trump rally

comedian at trump rally

“It was not event the worst thing I did that week. I could not believe it when that video came out and It was one of my formers openers doing it. It was so dumbfounding to me because it was a joke and my stance is that comedians should never apologize for a joke”

He made controversial remarks about Kim Kardashian on Tom Brady live Netflix comedy roast.

He was saying the Will Ferrell film Anchorman The Legend of Ron Burgundy and its popular Whales vagina line when he switched the topic of his roast to star Kardashian who was in crowd.

A whale vagine when reminds me Kim Kardashina here. She had lot of black men celebrating her endzone Hinchcliffe added.

“Kim word of advice close your legs. You have public beef than Kendrick and Drake.”

The event was staged roast and guest could expect to subjected to jokes at own expenses Netflix viewers add the remarks went too far branding Hinchcliffe comments incredibly misogynistic and gross.

In face of backlash to his set at Trump rally Hinchcliffe is showing no symbol of backing down.

He hit back at critics from Tim Walz and congresswoman Alexandria Ocasio Cortez claiming they had taken his remarks out of context and telling the Democratic VP candidate to change your tampon.

“These people have no sense of humor” Hinchcliffe complained.

“Wild that a vice presidential candidate would take time out of his busy schedule to analyze a joke take out of context to make it seem racist”.

NHL extends US cooperation with Federal Credit Union as military appreciation partner

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Highlights on veterans, active duty service members, families at tentpole events consisting of Stadium Series.

Navy Federal branding will integrated into League assets throughout the cooperation including the NHL award winning Digitally Enhanced Dasher Boards, tentpole events and digital and social media.

National Hockey League NHL and Navy Federal Credit Union revealed a multiyear extension of their US partnership consist of Navy Federal maintaining its status as Official Military Appreciation Partner of the NHL.

The cooperation stress on recognizing Veterans, Active Duty servicemembers and families at NHL tentpole events in broadcast and across the NHL digital and social platforms.

Navy Federal and The NHL will continue NHL stick tap for service a program to reward outstanding community service of hockey fans and military members.

Navy Federal will continue as title sponsor of NHL Stadium Series The 2025 Navy Federal Credit Union NHL Stadium Series will feature the Columbus Blue Jackets hosting the Detroit Red Wings at Ohio stadium.

Navy Federal host their veteran Showcase in Columbus Ohio a one of military hockey tournament that honors military Veterans across country.

Tickets to 2025 Navy Federal Credit Union NHL Stadium Series are on sale via Ticketmaster the ticketing partner of the NHL.

Tickets are available on first come first served basis.

Ticketmaster is official marketplace of the NHL providing fans with peace of mind in knowing the seats the buy on Ticketmaster.com and the Ticketmaster app are the seat they get.

We are delighted to extend our partnership with Navy Federal after many productive years of collaboration to support Active Duty military Veterans and their families” Jason Jazayeri said.

“We look forward to continuing to celebrate and honor members of the military community across some of our key tentpole moments throughout our partnership.”

“For us this partnership continues to be natural authentic fit. We are like minded organization both in terms of passion for hockey and shared values of community service and integrity.” Pam Piligian chief Marketing officer at Navy Federal.

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Marketing Officer at Navy Federal “We are proud to create moments where we honor those who serve and form meaningful relationship in spirit of military appreciation”