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Peter Russell

Lyft reports dramatic revenue drop of 61% but points to uptick in rides in July

5 years ago

Ride-hailing company Lyft reported results for the period ending June 30, 2020, its first full quarter during the Covid-19 pandemic.
The company just beat analysts’ expectations with losses per share of 86 cents (adjusted) and revenue of $339 million.
Wall Street was expecting losses of 99 cents per share (adj.) and revenue of $336.8 million for the quarter, according to a consensus of analysts surveyed by Refinitiv.

‘Shark Tank’ investor Kevin O’Leary: When it’s time to close your business and call it quits

5 years ago

Shark Tank’ investor Kevin O’Leary gives advice on when it’s time to close your business and call it quits at CNBC’s Small Business Playbook virtual summit on Wednesday.
Consumer behaviors have shifted and now may be the time to pivot your business in the digital economy, he said.
Never use more than one-third of your company’s free cash flow to service debt or you will never be able to reinvest and grow your business.

United bets on sun-seekers with new Florida flights

5 years ago

United is making a bet on vacationers looking for winter getaways in Florida.
Business travel remains weak because of the coronavirus pandemic so the airline is betting on vacationers.
The expansion is the largest addition of nonhub flying for the carrier, a departure from its network model.

Stocks making the biggest moves after hours: Lyft, Cisco, Vroom & more

5 years ago

Cisco shares fell more than 6% in after-hours trading despite reporting fiscal fourth-quarter profit and revenues that topped analysts’ expectations. The results, though better than what analysts polled by Refinitiv had anticipated, marked the first annual sales decline in three years. Investors may have positioned to sell the Dow component after Cisco said that it sees first-quarter revenues down 9% to 11% and associated per-share earnings between 41 and 47 cents.

Singapore to remove most coronavirus restrictions from Friday

5 years ago

Singapore will allow small gatherings and the reopening of restaurants and shops from June 19, its health ministry said on Monday, in a major easing of the city-state’s coronavirus restrictions.
Social gatherings of up to five people will be permitted from Friday, when the majority of activities resume after more than two months of restrictions, dubbed “circuit breaker” measures. Social distancing requirements will remain in place.

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