2024-07-08 05:37:32 ET
Summary
- Uber shares initially performed well in the Industrials sector this year but saw a decline as the first quarter ended.
- Uber's Q1 results showed mixed performance, with challenges in Latin America but improvements in EBITDA margin and gross bookings.
- Uber's potential for increased revenue from advertising and new product offerings could drive growth in the future.
- I outline key price levels to watch ahead of earnings due out next month.
Uber (UBER) had been among the top-performing Industrials-sector stocks in the initial months following its inclusion into the S&P 500. Shares topped out in the low $80s, though, as the shine came off the Industrial Select Sector SPDR ETF (XLI) as the first quarter drew to a close. The last three-plus months have featured relative strength, primarily out of the Information Technology and Communication Services sectors. ...
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Uber: New Growth Engines Emerge, Big Buybacks Ongoing