Announce its second vision fun after its wildly popular first fun. First, our top story, uber out with secondquarter results including a 5. 2 billion loss. Level down to the lowest since may. Here to crunch the numbers and breakdown uber eats an active is Mandeep Singh payment fairly disappointing, what is your biggest take away . I think it was just a revenue miss, and part of that was related to the user subsidies in their ridesharing business, i think they have been using subsidies for a while. They have been seeing pricing pressure because uber eats is a very fragmented market. On the core ridesharing side, i think theyre doing fine. The large numbers large Growth Numbers are catching up. I should add that the adjusted loss was lower than 650 6 million versus 979 Million Dollars that analysts had estimated. Monthly users are below estimate, 99 million, the street was looking more like looking for 101 million. What do you make of that . Mandeep the fact is, uber is a global company.
Turn. Oil gains for the first time this week after saudi arabia signals export curbs curbs stabilize prices. Shery lets get a quick check on how markets performed. We see u. S. Futures under pressure right now, down. 3 . We just got the news that the white house has halted temporary licenses to sell to huawei. That is putting pressure on the market, dampening Investor Sentiment after a strong day on the markets here on thursday. We saw the s p 500 gain the most in two months. Was in the green actually managing to erase the losses we saw earlier in the week. We saw tech and Energy Leading the gains. The nasdaq up for a third consecutive session, up 2. 25 percent. Energy was also up in the session as we had oil gained ground. We heard saudi arabia was contacting other producers in order to find a solution to stem declining prices as trade tensions continue between the u. S. And china. We are seeing u. S. Futures rapidly declining at the open on the latest news on wally huawei. Lets see h
Translator ive already clarified with minister salvini during our meetings that this crisis he triggered will be the most transparent crisis in the history of the public. Wpp shares jump as new business helps the advertiser post betterthanexpected sales in the Second Quarter. And a mixed session in asia as chinese food rises, and the yuan is set at an 11year low after a choppy week of trade good morning its a busy friday morning theres a lot to get to. I want to bring you some flashes from the monthly iea oil report. Just to look at some of the main headlines, iea cited Global Oil Demand growth estimates has been shaved by 100,000 Barrels Per Day to 1. 1 million Barrels Per Day. The Global Oil Demand has risen from january to may by 520,000 Barrels Per Day, however they also say this is the lowest increase in years. The lowest rise for that period since 2008, actually, if you want more detail they pointed specifically to Iran Oil Exports they say they dropped. No surprise there. In jul
The early trade after posting massive losses what the ceo is telling cnbc. And caught in a glass case of emotion a surprise mystery guest making the rounds all over late tv last night. Its trending on this august 9th as Worldwide Exchange begins right now. Good morning, good afternoon, good evening and welcome from wherever in the world you may be watching. Maybe at 2 00 in the morning in san diego, founded in 1909 by the germans. Any way, it could be the chart of the day whipsaw action in shares of uber after what could be described as a disappointing quarter. Ubers 2 2. 5 billion Second Quarter loss was larger than the total losses last year, all year for all but three companies in the s p 500. Only ge, kraft heinz and Newell Brands lost more money last year than uber lost in the Second Quarter. That stock being punished. Not as down as it was, but down 7. 5 right now to under 40 per share. Well have much more on uber coming up. A developing and important story. Thousands of proteste