Uber and Motional ink driverless robotaxi deal, Uber exec found guilty in hack cover-up

Yahoo Finance Live anchor Dave Briggs look at Uber shares amid a new driverless vehicle deal and a former executive's guilty verdict.

Video transcript

DAVE BRIGGS: I will stay in the automobile space. My plea is Uber, no shortage on the ride hailing giant this week. First, nearly two years after selling its autonomous vehicle research unit, they are back in that space. Uber signing a 10-year multi-market deal, a joint venture between Hyundai and Aptiv for autonomous cars on both its ride hailing and Uber Eats delivery app. That's the key there. Trips are expected to start later this year. We're not exactly sure where, but based on regulations in California, you might expect Florida and Texas to be the first two markets.

Also, on Wednesday, Uber's former head of security was found guilty by a federal jury in San Francisco of attempting to cover up a data breach that actually saw tens of millions of both customer and driver records stolen. How does it all come out in the wash? Uber's shares up by more than 2% on the day. But as you know, it has been a struggle thus far this year, still down more than 30% year to date, Seana.

SEANA SMITH: Yeah, Dave, it looks like investors are a little bit encouraged about the autonomous news. It's interesting what we've seen come from Lyft and Uber in this space because both have changed plans, as they've been under pressure to more so focus on profitability, rather than taking some of these costly chances. So this is an interesting play because it gives Uber some exposure in this space. But it doesn't have to pour all that money into its own research and development to get that exposure. So we'll see whether or not this partnership does, in fact, pay off.