US Stock Market Move | Announced a $1.5 billion share buyback plan Uber Technologies, Inc. (UBER.US) rose nearly 5% in pre-market trading.

On Monday, Uber Technologies, Inc. (UBER.US) rose nearly 5% in pre-market trading, reaching $67.68. On the news front, the company announced that as part of the previously announced $7 billion stock repurchase authorization, it has signed an accelerated stock repurchase agreement with Bank of America Corp to repurchase $1.5 billion of Uber common stock. Uber Technologies, Inc. Chief Financial Officer Prashanth Mahendra-Rajah said, "As we enter 2025, our momentum is quite strong, and we expect our free cash flow to continue to grow significantly, allowing us to return substantial capital to shareholders while continuing to invest in growth. Our stock is undervalued relative to our business strength."