reporting third-quarter earnings after the bell on Monday. Wedbush is expecting Uber to report a loss of 95 cents per share on revenue of $3.862 billion. This would be a significant drop in profit losses from the second quarter's loss of $4.72 per share.
Uber's earnings come two days before the company's lockup period expires, making 763 million more Uber shares eligible to trade on the public market. The lockup expiration may "cause an avalanche of selling as early investors and insiders hit the bid, which remains a major Street worry around near-term pressure," said Wedbush's Dan Ives.Shake Shack
will also report quarterly earnings after the bell on Monday. SunTrust is expecting the restaurant company to report earnings per share of 19 cents, below the 21 cents per share earned in the same quarter last year. This quarter, Shake Shack transitioned from four delivery partners to just GrubHub. SunTrust said this is the primary risk to Shake Shack's recent same-store sales momentum. The firm lowered its comp sales estimate to growth of 2.5%.
The White House said in a statement the trade representatives "made progress in a variety of areas and are in the process of resolving outstanding issues."3:05 p.m. New York Fed President John Williams speaks
uber a dog. sink like a rock
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