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Stock Alert: Uber Up 5% On Postmates Acquisition

Shares of ride-hailing company Uber Technologies, Inc. (UBER) are climbing more than 5% Monday morning at $32.40. It has traded in the range of $13.71- $45.63 in the past 52 weeks.

Today, Uber said it has agreed to buy goods delivery company Postmates for $2.65 billion in stock.

The deal is expected to close in the first quarter of 2021. Uber said the acquisition will complement its Uber Eats

"Postmates' strong relationships with small- and medium-sized restaurants, particularly local favorites that draw customers to the Postmates brand," Uber added.

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