After The Wall Street Journal reported yesterday that Grubhub (GRUB) has hired advisors to consider potential strategic options, JMP Securities analyst Ronald Josey said he is "not surprised" given his view that Grubhub has meaningful strategic value. Should Grubhub be acquired, he views Uber (UBER) as the most likely acquirer, but he also believes other bidders could include DoorDash, Amazon (AMZN), Booking (BKNG) and possibly some European food delivery companies. Using Takeaway.com's announced acquisition of Just Eat as a proxy would imply Grubhub could be acquired for about $70 per share, but Josey believes Grubhub could be acquired at a higher multiple given its position in the U.S. market and strategic value. He maintains a Market Perform rating on Grubhub shares.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Snap (SNAP) is expected to report results of its first quarter on Thursday, October 25, with a conference call scheduled for 5:30 pm EDT. What to watch... To see the rest of the story go to thefly.com. See Story Here

Amazon (AMZN), Rogers Communications (RCI), and the National Hockey League announced a "milestone two-year agreement" in Canada to bring hockey fans Monday night NHL hockey exclusively on Prime Video. "Prime Monday Night Hockey will stream all national regular season Monday night NHL games in English for the 2024/25 and 2025/26 NHL seasons. The deal is the NHL's first exclusive national broadcast package with a digital-only streaming service in Canada. The Prime Monday Night Hockey package, produced by Prime Video, will feature a new broadcast team offering in-depth analysis and play-by-play coverage, and stream live exclusively to Prime members in Canada," the companies stated.

UBS analyst Stephen Ju raised the firm's price target on Amazon.com to $215 from $198 and keeps a Buy rating on the shares ahead of the Q1 results on April 30. Expectations for revenue seems to be at the high-end of the guidance range of $143.5B, operating income between $13B-$13.5B, and AWS growth is at 15%-16%, the analyst tells investors in a research note. In addition, 2024 will be the first year in some time in which most if not all of the overhangs on Amazon shares should lift to clear the way for the stock to continue to outperform, UBS adds.

WEX (WEX) announced that it has reached a new long-term agreement with Booking.com (BKNG), effective April 2024. This agreement distinguishes WEX as Booking.com's preferred virtual card provider as it continues providing WEX payment solutions in support of Booking.com's payments vision to make buying and selling travel-related products and services easier for everyone. "With more than 800,000 active customer relationships worldwide, WEX is proud to work with eight of the top ten online travel agencies globally, including Booking.com," said Carlos Carriedo, WEX's Chief Operating Officer, International. "Building on years of working together, we remain committed to delivering WEX's deep expertise in both payments and travel, as well as the reliability of our technology platform, to help Booking.com power its B2B travel payment activities 24/7 and 365 days/year at scale, globally." Booking.com first became a WEX customer in 2013. Over a decade later, WEX now processes payments for Booking.com across the world.

Meta (META), Google (GOOGL), Snap (SNAP), and Amazon (AMZN) all benefit from the U.S.' ban of TikTok, The Washington Post's Will Oremus reports. Meta CEO Mark Zuckerberg criticized TikTok's Chinese roots in 2019, part of Meta's broader campaign, Oremus writes. Reference Link