Stock Monitor: Professional Diversity Network Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 28, 2017 / Active-Investors issued a free report on Yandex N.V. (NASDAQ: YNDX), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=YNDX as the Company’s latest news hit the wire. On November 24, 2017, the Company announced that Russia’s Federal Antimonopoly Service (FAS) had approved the previously announced merger of Yandex and Uber’s ridesharing business in Russia. The Company also disclosed that the Ministry of Antimonopoly Regulation and Trade of the Republic of Belarus has also approved the merger in Belarus and that it was awaiting approval from the antimonopoly service of Kazakhstan. Sign up now for our free research reports at: www.active-investors.com/registration-sg.

Active-Investors.com is currently working on the research report for Professional Diversity Network, Inc. (NASDAQ: IPDN ), which also belongs to the Technology sector as the Company Yandex. Do not miss out, become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=IPDN.

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Yandex’s most recent news is on our radar and we have decided to include it in our blog post. Today’s free coverage is available at: www.active-investors.com/registration-sg/?symbol=YNDX.

While approving the Yandex-Uber merger, Anatoly Golomolzin, the Deputy Head of FAS said, “Currently, there is a tendency in the market to consolidate existing players and strengthen their role in the market. At the same time, we understand that it is important to ensure the development of competition in such markets even at the very first stage so that all market participants are on an equal footing.”

The completion of the Yandex and Uber merger in Russia will allow customers to use both Yandex.Taxi and Uber apps. On the other hand, the driver-side apps will be integrated after the transaction closes. This will ensure that passenger wait time is reduced drastically and the driver utilization rates increases, resulting in higher service reliability.

The merger will allow both companies to operate in nearly 127 cities in six countries across the region, some of these are new cities are where the companies do not have operations. The merger values the new company at $3.725 billion on a post-money basis. Post the merger, Yandex is expected to own 59.3% stake in the new company, while Uber would own 36.6% stake, the remaining 4.1% stake will be owned by the employees of the new company. The new company’s Board of Directors will have a total of seven members out of which four members will be from Yandex and three members will be representatives from Uber.

If all remaining hurdles are cleared, the transaction is now expected to close in January 2018.

The Yandex and Uber Merger in Russia

Yandex (NASDAQ: YNDX) and Uber had announced in July 2017 that both Companies had signed an agreement to form a new company and to combine their ridesharing businesses in Russia, Kazakhstan, Azerbaijan, Armenia, Belarus, and Georgia. As per the terms of the agreement, Uber will invest $225 million in the new company and Yandex will contribute $100 million. The new Company will combine the ridesharing, food delivery, and logistics business of both companies in the region. The merger will leverage Uber’s global experience in ridesharing and Yandex’s local expertise in search, maps, and navigation in the region. This combination is expected to develop a fast-growing, sustainable business that best serves the needs of riders, drivers, and cities in the said region.

Both Companies’ Board of Directors had already approved the deal. The merger was expected to close in Q4 2017 subject to receiving regulatory approvals and other closing conditions.

At the time of the signing of the agreement, Tigran Khudaverdyan of Yandex.Taxi, had said, “The combined companies currently perform over 35 million rides a month while growing over 400% year-over-year. Since founding Yandex.Taxi in 2011, we have connected tens of millions of riders and drivers to become the largest and most trusted ridesharing business in Russia and neighboring countries. We are excited to expand on this foundation in collaboration with Uber.”

Pierre-Dimitri Gore-Coty, Head of Uber in Europe, the Middle-East, and Africa (EMEA) had commented, “Not only is this partnership good news for our two companies, it’s also great for riders, drivers, and cities across the region. This deal is a testament to our exceptional growth in the region and helps Uber continue to build a sustainable global business.”

About Yandex N.V. (NASDAQ: YNDX)

Headquartered in Moscow, Russia, Yandex operates an Internet search engine in Russia and internationally. The Company offers search, location-based, personalized, and mobile services that enable users to find information, and communicate and connect over the Internet from desktops and mobile devices. The Company aims to consumers and businesses better navigate the online and offline world and has developed leading on-demand transportation services, navigation products, and other mobile applications for millions of consumers across the globe.

About Uber

Founded in 2009, Uber is a San Francisco, California based global transportation technology Company that offers ridesharing service via an app which provides a credible alternative to car ownership. The Company has now expanded to quick food delivery via its UberEATS app and working on self-driving cars. The Company has completed nearly 10 million trips per day so far and operates in 616 cities across 77 countries. It is supported by 2 million drivers and a global team of 16,000 employees.

Stock Performance Snapshot

November 27, 2017 – At Monday’s closing bell, Yandex’s stock fell 1.63%, ending the trading session at $34.43.

Volume traded for the day: 2.56 million shares.

Stock performance in the last month – up 5.35%; previous three-month period – up 16.83%; past twelve-month period – up 84.81%; and year-to-date – up 71.04%

After yesterday’s close, Yandex’s market cap was at $10.87 billion.

Price to Earnings (P/E) ratio was at 102.17.

The stock is part of the Technology sector, categorized under the Internet Information Providers industry.

Active-Investors:

Active-Investors (“A-I”) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE, NASDAQ, and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles, and reports covering equities listed on NYSE and NASDAQ, and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third-party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list, contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

ReleaseID: 482964

Stock Monitor: Professional Diversity Network Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 28, 2017 / Active-Investors issued a free report on Yandex N.V. (NASDAQ: YNDX), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=YNDX as the Company’s latest news hit the wire. On November 24, 2017, the Company announced that Russia’s Federal Antimonopoly Service (FAS) had approved the previously announced merger of Yandex and Uber’s ridesharing business in Russia. The Company also disclosed that the Ministry of Antimonopoly Regulation and Trade of the Republic of Belarus has also approved the merger in Belarus and that it was awaiting approval from the antimonopoly service of Kazakhstan. Sign up now for our free research reports at: www.active-investors.com/registration-sg.

Active-Investors.com is currently working on the research report for Professional Diversity Network, Inc. (NASDAQ: IPDN ), which also belongs to the Technology sector as the Company Yandex. Do not miss out, become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=IPDN.

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Yandex’s most recent news is on our radar and we have decided to include it in our blog post. Today’s free coverage is available at: www.active-investors.com/registration-sg/?symbol=YNDX.

While approving the Yandex-Uber merger, Anatoly Golomolzin, the Deputy Head of FAS said, “Currently, there is a tendency in the market to consolidate existing players and strengthen their role in the market. At the same time, we understand that it is important to ensure the development of competition in such markets even at the very first stage so that all market participants are on an equal footing.”

The completion of the Yandex and Uber merger in Russia will allow customers to use both Yandex.Taxi and Uber apps. On the other hand, the driver-side apps will be integrated after the transaction closes. This will ensure that passenger wait time is reduced drastically and the driver utilization rates increases, resulting in higher service reliability.

The merger will allow both companies to operate in nearly 127 cities in six countries across the region, some of these are new cities are where the companies do not have operations. The merger values the new company at $3.725 billion on a post-money basis. Post the merger, Yandex is expected to own 59.3% stake in the new company, while Uber would own 36.6% stake, the remaining 4.1% stake will be owned by the employees of the new company. The new company’s Board of Directors will have a total of seven members out of which four members will be from Yandex and three members will be representatives from Uber.

If all remaining hurdles are cleared, the transaction is now expected to close in January 2018.

The Yandex and Uber Merger in Russia

Yandex (NASDAQ: YNDX) and Uber had announced in July 2017 that both Companies had signed an agreement to form a new company and to combine their ridesharing businesses in Russia, Kazakhstan, Azerbaijan, Armenia, Belarus, and Georgia. As per the terms of the agreement, Uber will invest $225 million in the new company and Yandex will contribute $100 million. The new Company will combine the ridesharing, food delivery, and logistics business of both companies in the region. The merger will leverage Uber’s global experience in ridesharing and Yandex’s local expertise in search, maps, and navigation in the region. This combination is expected to develop a fast-growing, sustainable business that best serves the needs of riders, drivers, and cities in the said region.

Both Companies’ Board of Directors had already approved the deal. The merger was expected to close in Q4 2017 subject to receiving regulatory approvals and other closing conditions.

At the time of the signing of the agreement, Tigran Khudaverdyan of Yandex.Taxi, had said, “The combined companies currently perform over 35 million rides a month while growing over 400% year-over-year. Since founding Yandex.Taxi in 2011, we have connected tens of millions of riders and drivers to become the largest and most trusted ridesharing business in Russia and neighboring countries. We are excited to expand on this foundation in collaboration with Uber.”

Pierre-Dimitri Gore-Coty, Head of Uber in Europe, the Middle-East, and Africa (EMEA) had commented, “Not only is this partnership good news for our two companies, it’s also great for riders, drivers, and cities across the region. This deal is a testament to our exceptional growth in the region and helps Uber continue to build a sustainable global business.”

About Yandex N.V. (NASDAQ: YNDX)

Headquartered in Moscow, Russia, Yandex operates an Internet search engine in Russia and internationally. The Company offers search, location-based, personalized, and mobile services that enable users to find information, and communicate and connect over the Internet from desktops and mobile devices. The Company aims to consumers and businesses better navigate the online and offline world and has developed leading on-demand transportation services, navigation products, and other mobile applications for millions of consumers across the globe.

About Uber

Founded in 2009, Uber is a San Francisco, California based global transportation technology Company that offers ridesharing service via an app which provides a credible alternative to car ownership. The Company has now expanded to quick food delivery via its UberEATS app and working on self-driving cars. The Company has completed nearly 10 million trips per day so far and operates in 616 cities across 77 countries. It is supported by 2 million drivers and a global team of 16,000 employees.

Stock Performance Snapshot

November 27, 2017 – At Monday’s closing bell, Yandex’s stock fell 1.63%, ending the trading session at $34.43.

Volume traded for the day: 2.56 million shares.

Stock performance in the last month – up 5.35%; previous three-month period – up 16.83%; past twelve-month period – up 84.81%; and year-to-date – up 71.04%

After yesterday’s close, Yandex’s market cap was at $10.87 billion.

Price to Earnings (P/E) ratio was at 102.17.

The stock is part of the Technology sector, categorized under the Internet Information Providers industry.

Active-Investors:

Active-Investors (“A-I”) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE, NASDAQ, and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles, and reports covering equities listed on NYSE and NASDAQ, and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third-party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list, contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

ReleaseID: 482964

Source URL: https://marketersmedia.com/wired-news-russias-fas-approves-merger-of-yandex-and-ubers-ridesharing-business/270200

Source: AccessWire

Release ID: 270200



Source link

Content Disclaimer 

This Content is Generated from RSS Feeds, if your content is featured and you would like to be removed, please Contact Us With your website address and name of site you wish to be removed from.

Note:

You can control what content is distributed in your RSS Feed by using your Website Editor.   If you are looking to make money from running your own business at home, visit the links below.

Computers and Software Buyers Guide

Compare Computers and Laptops

Mobile Phones Buyers Guide

Compare Mobile Phones