Diamonds and Dogs

5/31/19

Uber (UBER) and Lyft (LYFT) getting a lift. The ride sharing companies rose 1% and 5% respectively following better than expected earnings from Uber. Uber actually reported a loss of $2.26 a share or $3.8 billion as sales rose 19.9% to $3.1 billion. Gross bookings increased 34% to $14.65 billion; monthly active platform consumers increased 33% to 93.0 million. The company didn't provide guidance, but no reason to do so right now with them losing billions of dollars every quarter.

Another day, another tariff, this time with Mexico. GM (GM) is trading down 4% while Ford (F) is down 2.5% as President Trump is ready to put a 5% tariff on every import coming in from Mexico.  Mexico is now the biggest U.S. trading partner and home to more than a fifth of the region's automobile production facilities. Everything Mexico related is getting hit.