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GRUB

GrubHub

$41.80

1.195 (2.94%)

10:55
11/21/19
11/21
10:55
11/21/19
10:55

GrubHub put volume heavy and directionally bearish

Bearish flow noted in GrubHub with 10,784 puts trading, or 3x expected. Most active are 11/29 weekly 39 puts and 11/29 weekly 40 puts, with total volume in those strikes near 8,000 contracts. The Put/Call Ratio is 3.76, while ATM IV is up over 1 point on the day. Earnings are expected on February 6th.

GRUB GrubHub
$41.80

1.195 (2.94%)

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.

TODAY'S FREE FLY STORIES

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

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DIS

Disney

$147.99

0.52 (0.35%)

15:01
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Disney Japan apologizes for stealthy 'Frozen II' advertisements, NAR says »

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ICE

IntercontinentalExchange

$94.20

0.56 (0.60%)

14:56
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12/06
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14:56
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Regulators reject NYSE direct listing plan, Axios reports »

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CCS

Century Communities

$28.32

0.03 (0.11%)

14:46
12/06/19
12/06
14:46
12/06/19
14:46
Conference/Events
Century Communities management to meet with Wedbush »

Meeting to be held in…

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  • 11

    Dec

14:45
12/06/19
12/06
14:45
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14:45
General news
Treasury Action: supply heats up with $78 B in coupons, »

Treasury Action: supply…

14:45
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General news
Consumer Credit to be reported at 15:00 »

October Consumer Credit…

DIN

Dine Brands

$82.10

0.53 (0.65%)

14:44
12/06/19
12/06
14:44
12/06/19
14:44
Conference/Events
Dine Brands management to meet with Wedbush »

Meetings to be held in…

03/08/13
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  • 10

    Dec

  • 11

    Dec

NBRV

Nabriva Therapeutics

$1.82

-0.025 (-1.36%)

14:43
12/06/19
12/06
14:43
12/06/19
14:43
Conference/Events
Nabriva Therapeutics management to meet with Wedbush »

Meeting to be held in…

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  • 10

    Dec

ORLY

O'Reilly Automotive

$445.92

4.88 (1.11%)

14:42
12/06/19
12/06
14:42
12/06/19
14:42
Conference/Events
O'Reilly Automotive management to meet with Wedbush »

Meeting to be held in…

03/08/13
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03/08/13
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  • 10

    Dec

NFLX

Netflix

$307.45

4.59 (1.52%)

14:38
12/06/19
12/06
14:38
12/06/19
14:38
Periodicals
Netflix investing about $420M in local content in India, Bloomberg says »

Netflix (NFLX) is…

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  • 09

    Dec

  • 10

    Dec

AMGN

Amgen

$233.76

0.32 (0.14%)

14:35
12/06/19
12/06
14:35
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14:35
Hot Stocks
Amgen confirms FDA approval of Avsola for same indications as Remicade »

Amgen announced that the…

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  • 07

    Dec

NXPI

NXP Semiconductors

$119.48

2.33 (1.99%)

, MRVL

Marvell

$24.23

0.79 (3.37%)

14:31
12/06/19
12/06
14:31
12/06/19
14:31
Hot Stocks
NXP completes acquisition of Marvell's wi-fi and Bluetooth connectivity assets »

NXP Semiconductors (NXPI)…

NXPI

NXP Semiconductors

$119.48

2.33 (1.99%)

MRVL

Marvell

$24.23

0.79 (3.37%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 12

    Dec

  • 06

    Jan

GRFS

Grifols

$22.74

0.38 (1.70%)

14:20
12/06/19
12/06
14:20
12/06/19
14:20
Hot Stocks
Grifols higher after new data show reduction in Alzheimer's progression »

Grifols shares moved…

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SPY

SPDR S&P 500 ETF Trust

$315.15

3.11 (1.00%)

14:20
12/06/19
12/06
14:20
12/06/19
14:20
Options
Size ratio spread package on Amex appears to adjust open positions »

Size ratio spread package…

03/08/13
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03/08/13
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
12/06/19
12/06
14:17
12/06/19
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
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03/08/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
12/06/19
12/06
14:16
12/06/19
14:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

03/08/13
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14:15
12/06/19
12/06
14:15
12/06/19
14:15
General news
Treasury Action: yields are only modestly higher »

Treasury Action: yields…

GRFS

Grifols

$22.74

0.38 (1.70%)

14:12
12/06/19
12/06
14:12
12/06/19
14:12
Hot Stocks
Grifols announces report of clinical trial results at CTAD conference »

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13:55
12/06/19
12/06
13:55
12/06/19
13:55
General news
Action Economics Survey results: maybe it is cliche; but it's true -- Christmas came early »

Action Economics Survey…

ALXN

Alexion

$114.00

6.58 (6.13%)

13:45
12/06/19
12/06
13:45
12/06/19
13:45
Options
Alexion call volume above normal and directionally bullish »

Bullish option flow…

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  • 07

    Dec

  • 16

    Dec

BIDU

Baidu

$115.82

-1.04 (-0.89%)

, TCEHY

Tencent

$0.00

(0.00%)

13:36
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12/06
13:36
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13:36
Hot Stocks
Baidu reports filing total of 5,712 AI-related patent applications »

Baidu (BIDU) announced in…

BIDU

Baidu

$115.82

-1.04 (-0.89%)

TCEHY

Tencent

$0.00

(0.00%)

MSFT

Microsoft

$151.36

1.44 (0.96%)

03/08/13
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  • 09

    Dec

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
12/06/19
12/06
13:17
12/06/19
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
12/06/19
12/06
13:16
12/06/19
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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AMZN

Amazon.com

$1,749.41

8.82 (0.51%)

13:08
12/06/19
12/06
13:08
12/06/19
13:08
Periodicals
Amazon says U.K. soccer streams brought record Prime sign-ups, Guardian says »

Amazon has said that…

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BKR

Baker Hughes

$22.28

0.14 (0.63%)

13:05
12/06/19
12/06
13:05
12/06/19
13:05
Hot Stocks
Baker Hughes reports U.S. rig count down 3 to 799 rigs »

Baker Hughes reports the…

03/08/13
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