Lyft co-founders John Zimmer, front second from left, and Logan Green, front second from right, cheer as they as they ring a ceremonial opening bell in Los Angeles, Friday, March 29, 2019. On Friday the San Francisco company's stock will begin trading on the Nasdaq exchange under the ticker symbol "LYFT." (AP Photo/Ringo H.W. Chiu)
Investors hail Lyft shares in IPO, see profits down the road
SAN FRANCISCO (AP) — Lyft's shares soared as the company went public Friday, giving investors their first chance to bet on the future of the ride-hailing industry. The stock opened at $87.24, up 21 percent from its offering price of $72. It closed at $78.29, up 8.7 percent, giving the company a $27...
FILE- In this March 7, 2019, file photo specialist Anthony Rinaldi, left, and trader Michael Urkonis work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, March 29. (AP Photo/Richard Drew, File)
S&P 500 posts biggest quarterly gain in a decade; Lyft soars
Stocks finished broadly higher on Friday as Wall Street closed out the first quarter with the market's biggest gain in nearly a decade. The benchmark S&P 500 index is now up 13.1 percent this year, a drastic turnaround for stocks after a jarring 14 percent sell-off in the last three months of...
FILE- In this Jan. 31, 2018, file photo, a Lyft driver opens the Lyft app on his phone while waiting for a fare in Pittsburgh. Lyft set the price for its stock at $72 per share late Thursday, March 28, 2019, setting the stage for the ride-hailing pioneer's hotly anticipated stock market debut. (AP Photo/Gene J. Puskar, File)
Lyft's IPO lifts off at $72 a share, valuing company at $24B
SAN FRANCISCO (AP) — Lyft set the price for its stock at $72 per share late Thursday, setting the stage for the ride-hailing pioneer's hotly anticipated stock market debut. The price is at the high end of a revision Lyft made after strong investor demand prompted the company to increase its initial...
FILE- In this Jan. 11, 2018, file photo, cars pass the Queensboro Bridge in New York. Ride-hailing giants Uber and Lyft have redefined what we expect from transportation. But it's unclear whether the companies can turn their popularity into profits. (AP Photo/Frank Franklin II, File)
Ride-hailing giants face bumpy road to profitability
NEW YORK (AP) — Ride-hailing giants Uber and Lyft have redefined what we expect from transportation, hooking customers on the immediacy of on-demand rides with a few clicks on a smartphone. But whether the companies can turn their popularity into profits is a question investors are asking as both...
Lyft hikes IPO target to $70-$72 a share
SAN FRANCISCO (AP) — Lyft is raising the price target for its initial public offering in a sign of the excitement surrounding the stock market debut of a ride-hailing service. With the revision disclosed Wednesday, Lyft is now seeking $70 to $72 per share, up from its previous goal of $62 to $68...
FILE - In this Oct. 11, 2018, file photo, Evan Sharp, Pinterest co-founder and chief product officer, poses for a photo, standing beside a wall of pegs symbolizing the company logo at Pinterest headquarters in San Francisco. Pinterest is pinning its future on Wall Street, with the digital scrapbooking site on Friday, March 22, 2019, filing for an initial public offering of stock. (AP Photo/Ben Margot, File)
Digital scrapbooking site Pinterest files for IPO
SAN FRANCISCO (AP) — Pinterest is pinning its future on Wall Street, with the digital scrapbooking site on Friday filing for an initial public offering of stock. It follows a similar filing with securities regulators earlier this month by ride-hailing company Lyft in what is shaping up to be a busy...
Levi Strauss CEO Chip Bergh, left, is joined by CFO Harmit Singh as he rings a ceremonial bell when his company's IPO begins trading on the floor of the New York Stock Exchange, Thursday, March 21, 2019. Levi Strauss & Co., which gave America its first pair of blue jeans, is going public for the second time. The 166-year-old company, which owns the Dockers and Denizen brands, previously went public in 1971, but the namesake founder's descendants took it private again in 1985. (AP Photo/Richard Drew)
Levi's soars in return to public markets
NEW YORK (AP) — Levi Strauss & Co.'s return to the public markets got an enthusiastic reception from investors who believe the iconic brand is ready for a comeback — and still has a lot more room to grow. The stock, which is listed under the ticker "LEVI," opened for trading Thursday at $22.22...
FILE- In this March 12, 2019, file photo a handheld device of trader Sal Suarino is reflected in his glasses as he works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, March 21. (AP Photo/Richard Drew, File)
US stocks move broadly higher, led by technology companies
U.S. stocks moved broadly higher in afternoon trading Thursday, on track to snap the market's two-day losing streak. Technology companies powered the rally, which offset modest losses in financial sector stocks. Investors were weighing the latest batch of company earnings reports and some key...
FILE- In this Feb. 9, 2018 photo Bart Sights, head of the Eureka Lab, compares the markings and damage on jeans that he guesses are close to 30 years old, left, to jeans made within a few hours of this photograph at Levi's innovation lab in San Francisco. On Thursday, March 21, 2019, Levi Strauss & Co. is going back to the public markets after 34 years. (AP Photo/Jeff Chiu, File)
The Latest: Levi Strauss public again, stock surges
NEW YORK (AP) — The Latest on Levi Strauss & Co.'s initial public offering (all times local): 11:10 a.m. Shares of Levi Strauss & Co. are soaring as the company goes public again. The stock opened at $22.22, up 31 percent from its offering price of $17, which was better than the expected...
FILE - This Jan. 31, 2018 file photo shows a Lyft logo on a Lyft driver's car in Pittsburgh. Lyft officially kicked off the road show for its initial public offering Monday, March 18, 2019, with 30 million shares expected to cost between $62 and $68 per share. That would raise more than $2 billion for the San Francisco ride-hailing company, which could be valued in between $20 billion and $25 billion eventually. Lyft announced earlier this month that it intended to go public and has been in a race with Uber to be first to offer its stock to the public. (AP Photo/Gene J. Puskar, File)
Lyft opens its IPO road show, to offer more than 30M shares
NEW YORK (AP) — Lyft officially kicked off the road show for its initial public offering, saying Monday it plans to put more than 30 million shares up for sale with an anticipated price of between $62 and $68 per share. That would raise more than $2 billion for the San Francisco ride-hailing...