This week, our focus was on such companies as Alphabet, Uber Technologies, C3.ai, and Lyft. Find out how the stocks of these companies reacted to the latest events.

C3.ai stock lost 13%

C3.ai stock lost 13%

This week, the stock price of C3.ai Inc. (NYSE:AI) which designs software for creating AI-based apps and corporate products, kept moving up and down, growing and falling and growing again; but for the most part, the share price tumbled. Since Monday, the stock quotes recorded a 13.1% decline, reaching $22.49.

The stock of C3.ai Inc. must be influenced by the decline of the trend for AI technologies, or perhaps the upcoming publication of the report for Q3, financial 2023. Experts polled by Yahoo! Finance suggest that revenue will drop by 8% to $64.2 million USD, while the loss per share will almost triple, amounting to $0.22.

C3.ai Inc. shares have dropped despite the positive news about the company’s partnership with Waves LLC on developing AI products for the United States Air Force. This news appeared on 9 February, after which the stock lost 14.13%.

Alphabet stock recorded a 9% loss since Monday

Alphabet stock recorded a 9% loss since Monday

On Wednesday 8 February, Alphabet Inc. in Paris presented a line of products with integrated AI technology, including the Bard chatbot. It is based on a large Language Model for Dialogue Application (LaMDA). However, in the presentation, Bard gave an inaccurate answer to one of the questions.

Investors were disappointed by the demonstration of the chatbot, which was presented as Alphabet Inc.'s answer to Microsoft Corporation's decision to integrate AI ChatGPT technology created by OpenAI LLC into the Bing search system and the Edge browser. As you might recall, Microsoft presented its updated products the day before.

On 8 February, the stock price of Alphabet Inc. (NASDAQ:GOOGL) dropped by 7.68% to 99.37 USD, and on the next day, it lost 4.39% more to $95.01.

According to Bloomberg, Google has been under pressure ever since OpenAI launched its ChatGPT chatbot, as many in the tech industry have embraced it as the next-generation search system. Investors suspect that Alphabet Inc. is losing in the race for the future of Internet search.

Uber report: yearly revenue grew by 83%

Uber report: yearly revenue grew by 83%

On Wednesday 8 February, a report for Q4 and the whole of 2022 was presented by Uber Technologies Inc. Compared to the same months of 2021, quarterly revenue increased by 48.96% to $8.61 billion, which is 1.3% above analysts' forecasts. Net profit in October - December dropped by 33.29% to $0.59 billion, and EPS by 34.1% to $0.29. Experts had expected a loss per share of $0.15.

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Over the year, revenue recorded a growth of 82.62% to $31.88 billion, while net profit reached $9.14 billion. The number of trips made by Uber drivers over the quarter increased by 18.94% to 2.1 billion drives, and over the year by 20.01% to 7.64 billion trips. According to the head of Uber Technologies Inc., the corporation is recovering vividly from the hard blow of the COVID-19 pandemic, and the critical times have now passed.

The quotes of Uber Technologies Inc. (NYSE:UBER) reacted positively to the quarterly and annual statistics: on 8 February, trades closed with a growth of 5.53% to $36.83 per share.

Lyft report: growth of quarterly loss is 108%

Lyft report: growth of quarterly loss is 108%

At the closing of trades on Wednesday, the share price of Lyft Inc. (NASDAQ:LYFT) dropped by 6.58% to $16.75. On the next day, the trading session closed with a further decline of 3.16%, to $16.22; and at post-market, the decline reached 30.33%, with the quotes amounting to $11.3. This unfortunate decline of Lyft Inc. shares is attributed to the disappointing quarterly and annual statistics, coupled with the strong statistics of its main competitor Uber Technologies Inc.

On Thursday 9 February, Lyft Inc. announced a revenue increase in Q4 2022 by 20.15% to $1.18 billion, a rise in the net loss by 107.66% to $0.59 billion, and a loss per share by 93.98% to $1.61. Over last year, revenue increased by 27.65% to $4.09 billion, net loss by 49.25% to $1.59 billion, and loss per share by 41.01% to $4.47. The management of Lyft Inc. expects revenue to reach $0.98 billion and the corrected EBITDA to amount to $5-15 million in Q1 2023.

Summing up

Since Monday this week, the stocks of C3.ai Inc. and Alphabet Inc. lost 13% and 9%, respectively. Uber Technologies Inc. and Lyft Inc. published their quarterly and annual statistics. Uber Technologies stock grew by 6%, while Lyft Inc. stock lost 7%.


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Server A.

Server is the guru of searching for market insights. Since 2019 he writes about everything that might be useful to the investor, focusing on the stock market and its assets.