William Blair analyst Tim Mulrooney last night initiated both Rollins (ROL) and ServiceMaster (SERV) with Outperform ratings. The U.S. pest control market is growing with attractive investment characteristics, Mulrooney told investors in a research note. He sees opportunity for more than 15% upside in Rollins shares over the next 18 to 24 months with "relatively less downside given the company's defensive characteristics." The analyst's cash flow analyses suggest upside of 15%-20% for ServiceMaster shares over the next 12 months.

Serve Robotics (SERV), an autonomous sidewalk delivery company, announced the pricing of its underwritten public offering of 10,000,000 shares of common stock at a price to the public of $4.00 per share, for aggregate gross proceeds of $40 million, prior to deducting underwriting discounts and offering expenses. The offering includes the participation of one of Serve's largest stockholders and strategic partners, Postmates, LLC, a wholly-owned subsidiary of Uber Technologies Inc (UBER). Serve plans to use net proceeds from the offering to fund research and development of the next generations of Serve's robots, manufacturing activities, geographic expansion, and for working capital and other general corporate purposes. Aegis Capital Corp. is acting as the sole book-running manager for the offering.