Wedbush analysts Daniel Ives and Ygal Arounian say Uber (UBER -1.4%) was caught “flat footed” by London’s decision to pull its license.
The analysts say Uber’s “horror show of bad news since its IPO continues.”
Uber can continue to operate in the city pending an appeal, but if the company ultimately loses, Wedbush says it would be a “seismic blow” to its European operations.
London is Uber’s largest city in Europe, with 3.5M riders and 45,000 licensed drivers.
Wedbush maintains an Outperform rating on the stock. The company has a Bullish average Sell Side rating.
TiVo (TIVO +5.8%) entered into a new $715M Term Loan Credit Agreement with HPS Investment Partners as administrative and collateral agent, plus a $60M Revolving Loan Credit Agreement with Morgan Stanley Senior Funding and Wells Fargo Bank, National Association.
TiVo used the proceeds of the new term loan to repay loans under its existing term loan B facility and add cash to the balance sheet in anticipation of its Product business spin-off
Facebook (FB +0.7%) and Twitter (TWTR +1.6%) say hundreds of users might have had personal data improperly accessed after using their social networking accounts to log in to certain apps.
Security researchers discovered that the One Audience and Mobiburn software development kits provided access to data, including email addresses, usernames, and recent tweets.
Twitter and Facebook will notify those whose information was likely shared through apps like Giant Square and Photofy.
Facebook (FB +0.9%) launches Viewpoints, which rewards users for participating in surveys and research.
FB says it will use the “insights to improve products like Facebook, Instagram, WhatsApp, Portal and Oculus, and to benefit the broader community.”
The company says it won’t sell Viewpoints data to third-party apps and won’t publicly share Viewpoints activity on Facebook or other linked accounts without the user’s permission.
Texas Attorney General Ken Paxton will drop his opposition to the T-Mobile (TMUS -0.6%) and Sprint (S +2.4%) merger.
Paxton says the agreement prohibits the companies from raising prices for Texans for five years. The merged company is also committed to the 5G network throughout the state for six years.
The settlement leaves 14 states and the District of Columbia, arguing that the deal will increase prices for consumers.
A trial will begin on December 9 in Manhattan.
