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GRUB

GrubHub

$40.59

-0.42 (-1.02%)

, UBER

Uber

$27.06

0.3 (1.12%)

14:55
11/19/19
11/19
14:55
11/19/19
14:55

Food delivery service DoorDash sued by DC attorney general on tip policy

Washington, D.C. Attorney General Karl Racine brought an action against food delivery service DoorDash for violations of the District's Consumer Protection Procedures Act. The D.C. attorney general "seeks relief from Door Dash' s deceptive trade practices that were in place from approximately July 2017 until at least September 2019." DoorDash misled consumers to believe that they were using DoorDash's online delivery service, according to the suit, to tip the company's workers who delivered their food. Instead, the "tip" largely went to subsidize DoorDash's agreed payment to the worker and almost never served to increase that payment amount. Other companies in the food delivery business include Grubhub (GRUB) and its subsidiaries, which include Seamless and Eat24, Uber Eats (UBER) and Postmates, whic confidentially filed for an IPO in February. Reference Link

GRUB

GrubHub

$40.59

-0.42 (-1.02%)

UBER

Uber

$27.06

0.3 (1.12%)

  • 19

    Nov

  • 21

    Nov

  • 04

    Dec

GRUB GrubHub
$40.59

-0.42 (-1.02%)

11/15/19
LEHM
11/15/19
UPGRADE
Target $51
LEHM
Overweight
Barclays double upgrades GrubHub, says stock worth well over $50 in buyout
Barclays analyst Deepak Mathivanan upgraded GrubHub to Overweight from Underweight with a price target of $51, up from $27. The stock closed Thursday up $1.87 to $38.50. Shares of GrubHub declined by 75% in 15 months given an "irrational" competitive landscape, "ill-timed" strategic investments, and poor execution, Mathivanan tells investors in a research note titled "Dear Board - It's Time to Fold 'Em." The analyst thinks the time is now for the board to prevent further erosion. He recommends the board reduce investments on unproven areas, preserve asset value "before it's too late," and explore consolidation to realize synergies. For example, if Uber Eats (UBER) were to acquire GrubHub, it could achieve "significant" revenue and cost synergies, says Mathivanan. In a potential acquisition, the analyst believes GrubHub's could fetch "well north" of $50 per share.
11/15/19
LEHM
11/15/19
NO CHANGE
Target $40
LEHM
Overweight
Barclays says Uber 'one major announcement away' from changing narrative
Barclays analyst Ross Sandler thinks Uber Technologies (UBER) is "one major announcement away" from a positive narrative change heading into 2020. Getting involved with the stock ahead of rationalization of the Eats losses makes sense, Sandler tells investors sin a research note titled "How UBER Can Double." The analyst believes deconsolidating India and potentially combining the U.S. operations with another player would "meaningfully change" Uber's profitability outlook and the stock narrative. U.S. food delivery and ride-hailing in duopoly market structures can be very profitable, like travel, and Uber is "one catalyst away from the market realizing it," contends Sandler. Barclays analyst Deepak Mathivana, when double upgrading GrubHub (GRUB) to Overweight from Underweight this morning, said shares of GrubHub could be worth well north of $50 in a buyout from Uber Eats. Sandler has an Overweight rating on Uber with a $40 price target.
11/15/19
11/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) upgraded to Buy from Neutral at Mizuho with analyst Vijay Rakesh saying much of Qualcomm's 4G handset risk is "in the rear view mirror," and the company is positioned well for 5G ramps in 2020 and 2021. 2. Applied Materials (AMAT) upgraded to Buy from Neutral at Nomura Instinet with analyst David Wong saying the copay last night reported sales for the October quarter that were above the original guidance midpoint, and guidance for the January 2020 quarter was meaningfully above consensus estimates. 3. GrubHub (GRUB) double upgraded to Overweight from Underweight at Barclays with analyst Deepak Mathivanan saying shares of GrubHub declined by 75% in 15 months given an "irrational" competitive landscape, "ill-timed" strategic investments, and poor execution. 4. BioCryst (BCRX) upgraded to Buy from Neutral at BofA/Merrill with analyst Tazeen Ahmad saying he has conducted doctor checks after the release of the ApeX-2 study results in hereditary angioedema earlier this year to determine whether his peak sales estimates for the HAE market for '7353 seemed reasonable. 5. Nvidia (NVDA) upgraded to Buy from Hold at Craig-Hallum with analyst Richard Shannon citing the company's "strong" Q3 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/19/19
BTIG
11/19/19
NO CHANGE
BTIG
Neutral
GrubHub needs to get more efficient with marketing costs, says BTIG
BTIG analyst Peter Saleh keeps his Neutral rating on GrubHub (GRUB), noting that while the healthy consumer demand for quick delivery service in fast-casual and casual dining categories should survive, providers will need to be "more efficient" with their advertising budgets. The analyst adds that the expected migration toward delivery aggregators such as FoodBoss or Google (GOOG) will be positive for GrubHub's value offering, but he remains on the sidelines until he sees a reversal in the company's diner acquisition costs, increase in customer frequency, or a stronger financial outlook.
UBER Uber
$27.06

0.3 (1.12%)

11/14/19
ARGS
11/14/19
UPGRADE
Target $35
ARGS
Buy
Uber upgraded to Buy from Hold at Argus
Argus analyst Jim Kelleher upgraded Uber to Buy from Hold with a $35 price target. The analyst believes that the competitive landscape in the company's core Rides and Eats businesses is improving. At 33% market share of the global ride hailing industry, Kelleher adds that the company has the "network efficiencies" and scale for further growth. The analyst further states that many recent IPOs have underperformed amid investing rotation from growth to value, but believes that in Uber's case, the selloff is a buying opportunity since the company's "fundamentals have remained intact" despite the lower stock price.
11/14/19
11/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Uber (UBER) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying he believes that the competitive landscape in the company's core Rides and Eats businesses is improving. 2. Stanley Black & Decker (SWK) upgraded to Buy from Underperform at BofA/Merrill with analyst Ross Gilardi saying Stanley has had $350M of annualized run-rate tariff headwind levied against it since the trade war began and any agreement to simply postpone future tariff hikes indefinitely would be positive, while a deal to roll back the September tariff hikes would be "a more important catalyst." 3. Fiverr (FVRR) upgraded to Buy from Neutral at BofA/Merrill with analyst Nat Schindler saying the company's Q3 earnings beat expectations, demonstrating accelerating growth with improving efficiency. 4. Meritor (MTOR) upgraded to Overweight from Sector Weight at KeyBanc. 5. Allison Transmission (ALSN) upgraded to Buy from Neutral at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

LLEX

Lilis Energy

$0.16

-0.0015 (-0.92%)

16:16
12/06/19
12/06
16:16
12/06/19
16:16
Hot Stocks
Lilis Energy discloses notice of NYSE listing deficiency »

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WTRE

Watford Holdings

$26.49

0.34 (1.30%)

16:16
12/06/19
12/06
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16:16
Hot Stocks
Watford Holdings to acquire Axeria IARD, terms not disclosed »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
12/06/19
12/06
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16:16
Technical Analysis
NYSE market internals summary »

Volume was average for…

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RMED

Ra Medical Systems

$1.22

-0.08 (-6.15%)

16:13
12/06/19
12/06
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16:13
Hot Stocks
Ra Medical Systems receives noncompliance notice from NYSE »

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LHX

L3Harris Technologies

$192.49

-0.98 (-0.51%)

16:12
12/06/19
12/06
16:12
12/06/19
16:12
Hot Stocks
L3Harris receives $50M follow-on order for HF radios from USMC »

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MRVL

Marvell

$24.16

0.715 (3.05%)

, NXPI

NXP Semiconductors

$118.43

1.28 (1.09%)

16:08
12/06/19
12/06
16:08
12/06/19
16:08
Earnings
Marvell cuts Q4 revenue view to $710M +/- 3% from $750M +/- 3% »

Q4 consensus $732.94M.…

MRVL

Marvell

$24.16

0.715 (3.05%)

NXPI

NXP Semiconductors

$118.43

1.28 (1.09%)

03/08/13
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  • 12

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  • 06

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DHR

Danaher

$148.23

1.16 (0.79%)

16:06
12/06/19
12/06
16:06
12/06/19
16:06
Options
Danaher rev/con volume near 100K is highest to date »

Danaher rev/con volume…

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  • 06

    Dec

CLDX

Celldex

$2.55

(0.00%)

16:05
12/06/19
12/06
16:05
12/06/19
16:05
Syndicate
Breaking Syndicate news story on Celldex »

Celldex files $150M mixed…

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CNS

Cohen & Steers

$67.14

-0.17 (-0.25%)

, INB

Integrated BioPharma

$9.10

(0.00%)

16:03
12/06/19
12/06
16:03
12/06/19
16:03
Hot Stocks
Cohen & Steers announces approval of Global Income Builder reorganization »

Cohen & Steers Global…

CNS

Cohen & Steers

$67.14

-0.17 (-0.25%)

INB

Integrated BioPharma

$9.10

(0.00%)

03/08/13
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  • 26

    Feb

ENSV

Enservco

$0.21

0.005 (2.40%)

16:03
12/06/19
12/06
16:03
12/06/19
16:03
Hot Stocks
Enservco discloses NYSE non-compliance letter »

Enservco announced it has…

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NEM

Newmont Goldcorp

$39.84

-0.18 (-0.45%)

, ABX

Symbol changed to GOLD

$0.00

(0.00%)

15:45
12/06/19
12/06
15:45
12/06/19
15:45
Conference/Events
Odeon Capital metals/mining analyst to hold an analyst/industry conference call »

Analysts, along with Tony…

NEM

Newmont Goldcorp

$39.84

-0.18 (-0.45%)

ABX

Symbol changed to GOLD

$0.00

(0.00%)

KL

Kirkland Lake Gold

$40.53

-0.52 (-1.27%)

EVN

Eaton Vance Municipal Income Trust

$12.96

0.06 (0.47%)

NST

Nstar

$0.00

(0.00%)

AUY

Yamana Gold

$3.58

-0.195 (-5.17%)

DGC

Direct General Corp.

$0.00

(0.00%)

SAR

Saratoga Investment

$25.32

0.18 (0.72%)

EDV

Envision Development Corp.

$135.32

-1.28 (-0.94%)

CEY

Certegy

$22.88

(0.00%)

RSG

Republic Services

$88.92

0.675 (0.76%)

03/08/13
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15:45
12/06/19
12/06
15:45
12/06/19
15:45
General news
Treasury Market Summary »

Treasury Market Summary:…

XOM

Exxon Mobil

$69.57

1.16 (1.70%)

15:30
12/06/19
12/06
15:30
12/06/19
15:30
Hot Stocks
Exxon Mobil Treasurer sells 8K shares of common stock »

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S

Sprint

$5.46

0.055 (1.02%)

, TMUS

T-Mobile

$77.55

0.57 (0.74%)

15:26
12/06/19
12/06
15:26
12/06/19
15:26
Periodicals
Sprint, T-Mobile discussing last-minute settlement with AGs, FBN says »

Fox Business…

S

Sprint

$5.46

0.055 (1.02%)

TMUS

T-Mobile

$77.55

0.57 (0.74%)

03/08/13
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  • 06

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  • 09

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  • 16

    Dec

XOM

Exxon Mobil

$69.56

1.15 (1.68%)

15:24
12/06/19
12/06
15:24
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15:24
Hot Stocks
Exxon Mobil Controller sells 9.6K shares of common stock »

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DB

Deutsche Bank

$7.22

0.035 (0.49%)

, COF

Capital One

$101.65

2.06 (2.07%)

15:22
12/06/19
12/06
15:22
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15:22
Periodicals
Trump asks Supreme Court to block subpoenas for bank records, Politico says »

Politico's Andrew…

DB

Deutsche Bank

$7.22

0.035 (0.49%)

COF

Capital One

$101.65

2.06 (2.07%)

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  • 26

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HSBC

HSBC

$36.87

0.505 (1.39%)

15:17
12/06/19
12/06
15:17
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15:17
Periodicals
HSBC exec Moses to announce departure next week, Bloomberg says »

HSBC chief risk officer…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
12/06/19
12/06
15:17
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15:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
12/06/19
12/06
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12/06/19
15:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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15:15
12/06/19
12/06
15:15
12/06/19
15:15
General news
U.S. consumer credit surged a solid $18.9 B in October »

U.S. consumer credit…

JBSAY

JBS S.A.

$0.00

(0.00%)

15:09
12/06/19
12/06
15:09
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15:09
Periodicals
JBS to redomicile headquarters as part of U.S. IPO, Reuters reports »

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IWM

iShares Trust Russell 2000 Index Fund

$162.91

1.96 (1.22%)

, RUT

Russell 2000 Index

$0.00

(0.00%)

15:08
12/06/19
12/06
15:08
12/06/19
15:08
Technical Analysis
On The Fly: Weekly technical notes for Russell 2000 »

The Russell 2000 (RUT)…

IWM

iShares Trust Russell 2000 Index Fund

$162.91

1.96 (1.22%)

RUT

Russell 2000 Index

$0.00

(0.00%)

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XLY

Consumer Discretionary Sector SPDR

$121.77

0.99 (0.82%)

, XLI

Industrial Select Sector SPDR

$81.11

0.975 (1.22%)

15:07
12/06/19
12/06
15:07
12/06/19
15:07
Technical Analysis
On The Fly: Weekly technical notes for S&P 500 »

For the week the S&P…

XLY

Consumer Discretionary Sector SPDR

$121.77

0.99 (0.82%)

XLI

Industrial Select Sector SPDR

$81.11

0.975 (1.22%)

SPY

SPDR S&P 500 ETF Trust

$314.95

2.91 (0.93%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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15:03
12/06/19
12/06
15:03
12/06/19
15:03
General news
Consumer Credit data reported »

October Consumer Credit…

DIS

Disney

$147.99

0.52 (0.35%)

15:01
12/06/19
12/06
15:01
12/06/19
15:01
Periodicals
Disney Japan apologizes for stealthy 'Frozen II' advertisements, NAR says »

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