Uber Lifts Q1 Outlook; Mobility Business Bouncing Back Faster Than It Projected

Uber Technologies, Inc. (UBER), said, for first quarter, the company now expects: adjusted EBITDA between $130 million and $150 million, revised from prior guidance range of $100 million to $130 million. The company projects sequential improvement in both Mobility and Delivery segment adjusted EBITDA for the first quarter.

Uber noted that Mobility demand improved significantly through the month of February, with trips 90% recovered and gross bookings 95% recovered compared to February 2019.

“Our Mobility business is bouncing back from Omicron much faster than we expected,” said Dara Khosrowshahi, CEO.

Shares of Uber Technologies were up 4% in pre-market trade on Monday.

Herald morning quiz: March 8

Test your brains with the Herald’s morning quiz. Be sure to check back on nzherald.co.nz for the afternoon quiz.

To challenge yourself with more quizzes, CLICK HERE.

Gilead: Phase 3 TROPiCS-02 Study Meets Primary Endpoint

Gilead Sciences, Inc. (GILD) reported results from the phase 3 TROPiCS-02 study
evaluating Trodelvy in patients with HR+/HER2- metastatic breast cancer who received prior endocrine therapy, CDK4/6 inhibitors and two to four lines of chemotherapy. The company said the study met its primary endpoint with a statistically significant improvement in progression-free survival versus physician’s choice of chemotherapy. The first interim analysis of the key secondary endpoint of overall survival in the TROPiCS-02 study showed a trend in improvement for overall survival. The safety profile for
Trodelvy was consistent with prior studies.

Merdad Parsey, Chief Medical Officer, Gilead Sciences, said: “We are evaluating the data and will explore potential pathways with regulatory authorities to bring Trodelvy to this group of patients.”

Atreca Slips After Reaching Year-to-date High

Atreca, Inc. (BCEL) shares are sliding more than 29 percent on Monday morning trade receding from a year-to-date high on March 4. The clinical-stage biotechnology company, on March 3, had announced partial response in ATRC – 101 monotherapy cohort, while confirmed complete response in pembrolizumab combination cohort in Phase 1b clinical trial. The company said ATRC -101 has been well tolerated with no dose-limiting toxicities.

Currently, shares are at $3.66, down 29.57 percent from the previous close of $5.20 on a volume of 4,653,169. For the 52-week period, the shares have traded in a range of $1.56-$19.23 on average volume of 1,427,735.

Marine Petroleum Trust Stock Jumps 25% As US Plans To Ban Russian Oil Imports

Shares of nano-cap company Marine Petroleum Trust (MARPS) jumped over 25% on Monday morning seemingly responding to the news of a possible ban by U.S on oil supplies from Russia.

MARPS is currently trading at $9.00, up $1.87 or 26.23%, on the Nasdaq, on a volume of 1.6 million shares, above average volume of 68 thousand.

The United States and European allies are exploring banning imports of Russian oil, U.S. Secretary of State Antony Blinken said on Sunday. The White House coordinated with key Congressional committees moving forward with their own ban.

Brent crude touched a high of $130.89 early on Monday versus $118.98 on Friday and $119.84 on Thursday.

Marine Petroleum Trust, together with its subsidiary, Marine Petroleum Corporation, operates as a royalty trust in the United States. As of June 30, 2021, the company had an overriding royalty interest in 55 oil and natural gas leases covering approximately 199,868 gross acres located in the Central and Western areas of the Gulf of Mexico off the coasts of Louisiana and Texas.

Woman dead in overnight Five Points shooting

Denver police say a woman is dead after a shooting in Five Points overnight.

DPD first tweeted about the incident at 2:12 a.m. Monday.

The woman was transported to the hospital and later pronounced dead.

Police say the shooting happened in the 2500 block of Welton Street.

Officials did not say if there were any arrests or suspects in connection with the shooting.

The woman’s information has not yet been released.

With ‘Turning Red,’ a Big Red Panda Helps Break a Glass Ceiling

Domee Shi is the first woman filmmaker with sole directing credit on a Pixar feature.

By Brooks Barnes

U.S. Energy Stock Jumps 16% As US Considers To Ban Import Of Oil From Russia

Shares of U.S. Energy Corp. (USEG) are gaining over 16% on Monday morning driven by the news of a possible ban by U.S on oil supplies from Russia.

USEG is currently trading at $5.35, up $0.77 or 16.81%, on the Nasdaq, on a heavy volume of 4 million shares, above average volume of 238 thousand.

The United States and European allies are exploring banning imports of Russian oil, U.S. Secretary of State Antony Blinken said on Sunday. The White House coordinated with key Congressional committees moving forward with their own ban.

Brent crude touched a high of $130.89 early on Monday versus $118.98 on Friday and $119.84 on Thursday.

U.S. Energy Corp., an independent energy company, focuses on the acquisition, exploration, and development of oil and natural gas properties in the United States. It holds interests in various oil and gas properties in the Williston Basin in North Dakota, the Permian Basin in New Mexico, the Powder River Basin in Wyoming, and in the Gulf Coast of Texas. As of December 31, 2020, the company had an estimated proved reserves of 1,255,236 barrel of oil equivalent; and 134 gross producing wells.