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Fly News Breaks for February 21, 2020
LYFT, UBER
Feb 21, 2020 | 09:07 EDT
Morgan Stanley analyst Brian Nowak raised his Uber Rides bookings estimate by 2% and he now forecasts 18% year-over-year growth, which he notes is 3% ahead of the Street consensus. He cites the strength of U.S. private rides, the lapping of pooling headwinds, an assumed 3% year-over-year increase in U.S. pricing and the integration of Careem for his estimate hike. Rides "has evolved into a two-player game of unequals sooner than expected," contends Nowak, who keeps an Overweight rating on Uber (UBER) shares and Equal Weight rating on Lyft (LYFT). Given his increased estimates for the ridesharing business, which makes up about 65% of his estimate of Uber's total enterprise value, Nowak raised his price target to $58 from $55 for Uber shares.
News For UBER;LYFT From the Last 2 Days
UBER
Jun 5, 2020 | 16:10 EDT
Futures were pointing to a higher open for the market ahead of the release of the monthly jobs data as investors appeared to be positioning for a "not as bad as feared" report. What they got... To see the rest of the story go to thefly.com. See Story Here
UBER
Jun 5, 2020 | 13:26 EDT
Netherlands-based Just Eat Takeaway.com (TKAYY) and Germany-based Delivery Hero (DLVHF) have expressed interest in merging with Grubhub (GRUB), Alex Sherman of CNBC reports, citing people familiar with the matter. The interest comes as antitrust concerns have clouded the chances of an Uber Technologies (UBER) acquisition of Grubhub, sources told CNBC. Just Eat is working with Bank of America as an adviser, the people added. One source said Grubhub is weighing multiple offers, some of which are all-stock and some that are both cash and stock, Sherman notes. The company is mulling the right deal structure with potential buyers given market conditions and regulatory risks, two of the people said. Shares of GrubHub are up 8% to $61.93 following the report while Uber is up 2.5% to $37.36. Reference Link
UBER
Jun 5, 2020 | 07:35 EDT
Notable call activity was cited Thursday in American Airlines (AAL) and Uber (UBER).
UBER
Jun 4, 2020 | 10:10 EDT
$2.8M Put buyer jumps into Uber. Shares off 37c, or 1%, this morning near $36.38 with a large block on the Amex where a trader paid $7 for 4k Sep 41 puts in the opening minutes as shares traded $36.84. Matches a block of same size opened on Feb 13th for $4.80 when shares were $41. Today's trade likely locks in the $880k loss but might be considered a win as these puts topped out near $26 in mid-March.