Christopher Vandergrift News Today

Uber Technologies shares whipsawed on Tuesday after the ride-sharing company reported weaker-than-expected revenue for the third quarter.

(Reuters) -Lyft's price cuts may have helped the ride-hailing firm make a small dent in Uber's U.S. market share, but not enough to prevent the bigger rival from reporting its second quarterly operating profit. After the slowest sales increase in the second quarter in two years, Lyft is expected to post a bigger growth story in the September quarter as it attracted more riders with lower prices. The average price of a standard Lyft ride as of September-end was more than 4% cheaper th...

The average price of a standard Lyft ride as of September-end was more than 4% cheaper than Ubers similar service, according to data analytics firm YipitData, a big change since February, when both the companies were charging nearly the same price.

After the slowest sales increase in the second quarter in two years, Lyft is expected to post a bigger growth story in the September quarter as it attracted more riders with lower prices

LYFT Price Cuts Uber Deal: For Lyft, which under new boss David Risher has signaled a more aggressive pricing strategy, market share wins have been slow. Lyfts share has risen just 200 basis points to 29% since January, when the price war started, YipitData said.