Travis Kalanick, the recently ousted CEO of ride-hailing firm Uber, was involved in the company's partnership with Russian Internet giant Yandex (YNDX) - Get Yandex NV Class A Report to bring ride-hailing services to Russia and Eastern Europe, according to CNBC.
Emil Michael, Uber's former SVP of Business who left the company last month, was also involved in the deal.
The two companies announced an agreement on Thursday to combine their ride-hailing services into a joint venture in Russia, Armenia, Azerbaijan, Belarus, Georgia, and Kazakhstan.
The combined company will be controlled by Yandex and be valued at $3.725 billion. Both Uber and Yandex will invest hundreds of millions of dollars in the deal.
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"At some point it has to fall to gravity," he said told TheStreet's Scott Gamm in an interview. "It's been trading on a different planet for years and now it has to trade on Earth." Amen.
Relax Apple stock bulls: For now, reports suggest a moderate delay in the Apple (AAPL) - Get Apple Inc. (AAPL) ReportiPhone 8 ramp, rather than something more severe points out TheStreet's Eric Jhonsa. So far, the market has shrugged off concerns on a possible delayed iPhone 8 release (as in it misses the holiday launch window). But it's worthwhile to keep something in mind: Apple shares have lagged the S&P 500 over the past month, so some doubt may be trickling into the bull camp.
Further, key Apple supplier Taiwan Semiconductor Manufacturing Co. (TSM) - Get Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR Reportjust served up some uninspiring figures that suggest waning smartphone demand.
This beverage executive just went off the rails: Hat tip to TheStreet's Lindsay Rittenhouse for an insightful interview with SodaStream's (SODA) - Get SodaStream International Ltd. ReportCEO Daniel Birnbaum, who pulled no punches in his views on PepsiCo (PEP) - Get PepsiCo, Inc. Reportand Coca-Cola (KO) - Get Coca-Cola Company Report.
Said Birnbaum on why his company's stock has surged this year:
The company is addressing mega trends - health and wellness, convenience, consumer choice and good, important values. We have the right product at the right time. Our competition is prehistoric and that might explain the success we've seen around the world, particularly in Japan, New Zealand, Canada, Germany, Norway, all over the world. This is not a local phenomenon. This is a global mega trend. We're looking to embrace a sustainable world for our children to live in.
Birnbaum didn't shut the door on making acquisitions, either.
The discount retailer, which has sought to slash prices this year to better compete with rivals Walmart (WMT) - Get Walmart Inc. Reportand Amazon (AMZN) - Get Amazon.com, Inc. Report, said Thursday its second quarter results would come in above the high-end of its estimates for 95 cents a share to $1.15 a share. Target credited improved traffic and sales trends through the first two months of the second quarter.
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