New York, March 3, 2026, 14:59 (ET) — Regular session
- Uber shares climbed in the afternoon, bucking the broader market’s decline.
- CFO Balaji Krishnamurthy, according to a transcript, highlighted their focus on opportunistic buybacks, while also underscoring ongoing investment in autonomous vehicles.
- Despite the rally, options flow showed traders loading up on downside hedges.
Uber Technologies climbed 1.6% to $77.15 by the afternoon, after bouncing between $73.74 and $77.31. The S&P 500 dropped roughly 0.8%, and Nasdaq fell 1.0%. Lyft gave up 2.2%. DoorDash managed a modest 0.3% gain.
Balaji Krishnamurthy’s debut in the spotlight as Uber’s finance chief is drawing scrutiny from investors, especially around the company’s approach to buybacks and capital. Speaking at a Morgan Stanley event, Krishnamurthy said Uber isn’t interested in sticking to predictable, quarter-by-quarter repurchases; instead, he’s watching for share-price “dislocations” and is ready to “be more aggressive” when those show up. He flagged last year’s $10 billion in free cash flow — after covering costs and capex — and described autonomous vehicles, or AVs, as a “massive opportunity.” Investing.com
Uber’s pitch comes as the company wrestles with balancing short-term profits against ambitious moves it says will change the economics of ride-hailing. Back in February, Uber told investors to brace for first-quarter adjusted EPS that would lag expectations, pointed to a higher effective tax rate coming in 2026, and doubled down on pushing robotaxi service into as many as 15 cities by year-end 2026. William Blair’s Ralph Schackart flagged an ongoing “continued AV debate” over the stock at the time. Reuters
Uber, in a Monday announcement, pointed to the fireside chat and said Krishnamurthy would take the stage at 5:35 p.m. ET. Investors can catch the audio stream on the company’s investor relations page. Uber Investor Relations
Even as shares moved up, options traders skewed “moderately bearish,” with more puts than calls trading and implied volatility inching higher, according to TipRanks, which cited TheFly. A put/call ratio over 1 typically points to traders seeking downside protection. TipRanks
Investors know the drill. Buybacks give shares a lift, yet Uber’s got its hands full, betting on autonomy and fresh ventures, all while working to keep rides and delivery prices firm. Signs of headway? Those usually filter through in dribs and drabs—little numbers, not headline stats, give the first hints.
Still, the bullish scenario is all about timing. Regulatory hurdles, partner fleet availability, and how quickly unit economics shape up—all of it matters for self-driving launches. Margins could take a hit if demand loses steam or competitors start slashing prices again.
Wall Street Horizon puts Uber’s upcoming earnings release on May 6, before the market opens, though they flag that timing as unconfirmed. That event stands out as the next key catalyst for UBER. wallstreethorizon.com
