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Stock Market & Financial Investment News

News Breaks
April 29, 2014
05:34 EDTGRUBGrubHub initiated with an Outperform at BMO Capital
Target $40.
News For GRUB From The Last 14 Days
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July 27, 2015
17:36 EDTGRUBOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
15:35 EDTGRUBGrubHub plummets as analyst sees first-mover advantage 'eroding'
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15:03 EDTGRUBNotable companies reporting before tomorrow's open
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11:41 EDTGRUBGrubHub tumbles, levels to watch
Shares are off the earlier lows, last at $30.48 and down 9.8% on the day. Cowen earlier cut its rating on the stock to Market Perform and reduced its price target to $30 on competitive and EBITDA concerns. At current price the 52-week low at $29.68 is next support. The company is scheduled to report earnings tomorrow.
10:00 EDTGRUBOn The Fly: Analyst Downgrade Summary
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09:54 EDTGRUBGrubHub pullback an overreaction, says Stifel
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07:20 EDTGRUBGrubHub downgraded to Market Perform from Outperform at Cowen
Cowen downgraded GrubHub to Market Perform form Outperform on competitive concerns and EBITDA risk on investments to regain competitiveness. Cowen lowered its price target to $30 from $39 on GrubHub shares.
July 21, 2015
07:48 EDTGRUBGrubHub weakness a buying opportunity, says Brean Capital
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