Verbund AG
Change company Symbol lookup
Select an option...
OEZVF Verbund AG
TRKA Troika Media Group Inc
$NQDMEU3030CADN Nasdaq DM Europe Insurance Net Total
CDAK Codiak BioSciences, Inc.
TXT Textron Inc
INSG Inseego Corp
AVDL Avadel Pharmaceuticals PLC
LCSHY Lancashire Holdings Ltd
NET Cloudflare Inc
PRCT PROCEPT BioRobotics Corp

Based in Austria
Company profile

VERBUND AG is an Austria-based energy company. The Company is engaged in the generation and transmission of electricity in Austria. It is also active in the energy trading markets. Through its trading platform, VERBUND Energy4Business GmbH, which trades power and energy derivatives over-the-counter and at the major power exchanges across Europe. VERBUND generates electricity via its large network of hydroelectric power plants, which accounts for approximately 90% of the power generated, supplemented by wind, solar and thermal power plants, powered by fossil fuels. The Company's transmission business is run by VERBUND-Austrian Power Grid AG, which operates, maintains and extends Austria's high-voltage and extra-high-voltage power grids. Verbund has further subsidiary operations in Germany, Italy, Poland, Hungary and Slovenia. Furthermore, the Company acquired Gas Connect Austria GmbH to operate its infrastructure.

Closing Price
Day's Change
0.00 (0.00%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Uber, Lyft shares boosted as Wall Street continues to like gig companies' recession chances

4:39 pm ET January 9, 2023 (MarketWatch)

By Levi Sumagaysay

Rising car prices and interest rates are likely to push consumers toward ride-hailing services, analysts say, and more drivers may look for gig work in an economic downturn

Uber Technologies Inc. and Lyft Inc. shares rose sharply Monday as Wall Street analysts continued to suggest that gig companies -- largely founded during and after the last large U.S. recession -- could flourish in any coming economic pullback.

Piper Sandler analysts wrote in a note Monday that vehicles are getting too expensive, with higher interest rates and limited availability as key factors, which could cause some consumers to turn to on-demand rides from Uber (UBER) and rival ride-hailing company Lyft (LYFT).

"Vehicle prices are near all-time highs, and a quick reversion to historical pricing seems unlikely," the analysts wrote. "As a result, we think cash-strapped consumers will increasingly opt to hail rides instead of trying to replace old cars."

The analysts upgraded Uber on their belief that out of the biggest gig companies, it may be in the best position to withstand a possible recession. They said Lyft and Getaround Inc. (GETR), a peer-to-peer car-sharing platform, are also likely to benefit. But because of its scale, Uber is "our #1 way to invest in this theme," they added.

Shares of Uber and Lyft are building on their upward momentum so far this year after an ugly 2022, with Uber shares ending the day nearly 4% higher at $27.40 after rising four of the past five days. The stock is up 10.8% year to date. Lyft's stock gained more than 6% to close at $12.70 Monday, has been up seven of the past eight days and has risen about 15% so far this year.

The analysts' notes Monday are in line with other recently published sentiment, as well as commentary from executives, that sees an upside for the gig economy during a possible recession. Last week, Bank of America analysts wrote that the souring economy could boost gig companies' labor supply.

See: Uber, DoorDash and Lyft could see hundreds of thousands of new gig workers because of recession, analysts say

Jefferies Equity Research analyst John Colantuoni, who took over lead coverage of the sector, on Monday retained Uber stock at buy and Lyft at hold. He also initiated DoorDash Inc. (DASH) at underperform.

"We believe Uber's dominant scale and network effect support greater reinvestment into customer experience/adoption, which should spur frequency/stickiness and grow market share over time," the Jefferies analysts wrote.

Piper Sandler also downgraded DoorDash's stock, with analysts saying they preferred Uber's chances owing to slowing demand for delivery.

DoorDash shares are holding up, though, and were up about 2% in trading Monday. They are up three of the past four days and have increased 0.6% year to date.

Uber's and Lyft's stocks could also be benefiting from a judge's decision late last week to block rate increases for ride-hailing drivers in New York City. Last month, Uber sued the New York City Taxi & Limousine Commission, claiming its mandated hike that would have raised ride-hailing rates by 7% a minute and 24% a mile was miscalculated.

Justice Arthur Engoron of the state court in Manhattan reportedly agreed with Uber that the commission did not offer sufficient reason for the rate increases. He is set to issue a written decision this week.

-Levi Sumagaysay


(END) Dow Jones Newswires

January 09, 2023 16:39 ET (21:39 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.