Uber Technologies, Inc. (UBER) was up +7.01% to $56.46. On Tuesday, the ride-sharing giant revealed a deal for around $1.1 billion to buy the online liquor distribution platform Drizly. 90 percent of the transaction will be funded by a deposit of Uber shares, and 10 percent of the balance will be charged in cash. In the first half of 2021, Uber expects the deal to be closed. Uber is thus expanding the diversification of its EV business into home delivery (Uber Eats), which has been significantly diminished by the coronavirus crisis.
Exxon Mobil Corporation (XOM) was up +1.58% to $45.63. ExxonMobil reported its first annual impairment loss in 40 years, but its quarterly adjusted earnings met estimates. In asset writedowns, the company lost $19.3 billion. In the fourth quarter, except for these products, the company returned to profitability, reporting per-share earnings of 3 cents, versus a consensus of 2 cents. In the fourth quarter, cash flow from sales was $4 billion. The company has announced it would retain its $3.7 billion quarterly payouts. The quarterly net loss was $20.1 billion after adjustments, $4.7 per share, compared to a net profit of $5.7 billion a year ago. The net yearly debt is 22.4 billion dollars.
Shares of ConocoPhillips (COP) remained stable at +0.64% to $40.97. The oil company also reported better than expected results for the 4th quarter.
Alibaba Group Holding Limited (BABA) was down -3.85% to $254.5. The Wall Street-listed Chinese e-commerce colossus met industry forecasts in the quarter ended. The group formed by Jack Ma, facing the wrath of Chinese regulators, has thus proceeded to advance at an impressive pace. In the three months ended December, sales increased 37 percent, reflecting the equivalent of $34.2 billion. Shareholder-attributable net profits rose by 52 percent to more than $12 billion. To perform internal evaluations, the company has since set up a special task force and regularly meets with antitrust regulators.