Lyft, Uber, GE and Carnival are riding a market wave on some improved sales and new plans that have prompted a second-look from investors.
Lyft Rideshare Figures
Shares of Lyft rose after the ride-sharing company reported average daily rideshare figures in February rose 4% month over month in data reported Wednesday.
In a U.S. Securities and Exchange Commission 8-K filing, the company said it continues to expect average daily ride volumes in the first quarter of the current year will surpass levels seen in the fourth quarter of last year.
Lyft expects to manage its adjusted EBITDA Q1 loss to $135 million, from the $145 million to $150 million it previously estimated, a Tuesday filing with the SEC shows.
Uber Tags Along
Lyft's recovery also brought some positive vibe to Uber, whose shares ended up 3% higher at 56.12. The optimism comes despite the cautious comments by chief executive Dara Khosrowshahi at the Morgan Stanley Tech conference Monday, who said he expects Uber's mobility unit to see some signs of recovery in the U.S. and Europe.
Uber's sales growth is a negative 8.2% for the present quarter. The company's growth projection for the current quarter and the next is 68% and 57%, respectively.
GE Gets A Swiss Nod
The S&P 500 settled in the red Wednesday, down more than 1.2%, but among the largest industrial stocks on the market -- General Electric, relished a healthy dose of green, closing up 3.5%.
Swiss banker UBS lifted its price target on GE, predicting that within a year the stock that currently trades for $13 will hit $15 per share.
General Electric was awarded a $41 million DARPA project on Tuesday to improve the speed of nucleic acid-based vaccine manufacturing and distribution, according to Benzinga.
Carnival's Cruise Plans
Looking toward a post-pandemic market, cruise line company Carnival announced its planned journeys for Australia, New Zealand, South Pacific, South America, Antarctica, Far East, Hawaii and Tahiti.
Shares of Carnival traded up 2.3% overnight. The cruise liner says the itineraries are now officially open for booking for the 2022 and 2023 seasons.