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Stock Market & Financial Investment News

News Breaks
August 25, 2014
12:19 EDTGRUBGrubHub falls on share offering, levels to watch
The stock is down 5.8% to $40.28 after the company filed to sell 10M shares in a follow-on offering. At current price next support is at $39.36. Resistance is at $41.11.
News For GRUB From The Last 14 Days
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August 2, 2015
14:15 EDTGRUBYelp results may signal weakness for Groupon, others, Barron's says
A recent guidance cut from Yelp (YELP) "doesn't bode well" for certain Web companies like Groupon (GRPN), ReachLocal (RLOC), and Priceline's (PCLN) OpenTable, as newer firms like GrubHub (GRUB) lure away salespeople and ad revenue, Barron's contends in a 'Technology Trader' column. However, the publication also questions whether GrubHub, Uber, and others are "creating any lasting value." Reference Link
July 28, 2015
14:41 EDTGRUBHigh option volume stocks
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12:31 EDTGRUBOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory but turned mixed a short time after the open. The averages gathered themselves again and began an upward drift about an hour into trading, leaving markets near session highs around noon as stocks try to break their string of five consecutive lower closes. ECONOMIC EVENTS: In the U.S., the Case Shiller 20-city home price index rose 1.1% in May to 179.03, missing a forecast for it to rise 1.7% to 180.2. Markit's services PMI for July rose to 55.2, above the expected 55.0 reading. The Richmond Fed factory index rose to 13.0 in July from an upwardly revised 7 in June. Consumer confidence fell to 90.9 in July, down from a revised 99.8 figure for last month and below the expected reading of 100. In China, the Shanghai composite index closed down 1.7%, but only after a volatile session that saw it down as much as 5.1% and up about 1% at different points in the trading day. In Europe, U.K. GDP growth in the second quarter came in at 0.7%, matching the consensus expectation. COMPANY NEWS: Earnings season continued in earnest with UPS (UPS), Ford (F), Pfizer (PFE) and Merck (MRK) each reporting better than expected quarterly profits. UPS, which said its quarterly results gave it confidence in achieving the upper end of its earnings guidance range for the fiscal year, rose more than 5%. Pfizer and Merck each raised their fiscal year earnings guidance ranges, but Pfizer advanced 1.7% following its report while Merck slid nearly 0.5%. Ford, meanwhile, gained 1.8% after backing its fiscal year pre-tax profit view and repeating that it still expects the second half of the year to be stronger than the first half. MAJOR MOVERS: Among the notable gainers was Supervalu (SVU), which jumped 19% after the company reported better than expected first quarter results and also announced that it is exploring a separation of its Save-A-Lot business into a stand-alone, publicly traded company. Also higher was GrubHub (GRUB), which gained over 5% after reporting better than expect top and bottom line results in its second quarter and issuing 2015 guidance that analysts at Stifel said "appears conservative." Among the noteworthy losers was Immunomedics (IMMU), which tumbled 34% after the company's partner, UCB, announced that two Phase 3 clinical studies for epratuzumab in Systemic Lupus Erythematosus did not meet their primary clinical efficacy endpoints in either dose in both studies. Also lower following its earnings reports was Baidu (BIDU), which fell 16.5% and was downgraded by at least four research firms. INDEXES: Near midday, the Dow was up 136.13, or 0.78%, to 17,576.72, the Nasdaq was up 36.37, or 0.72%, to 5,076.14, and the S&P 500 was up 19.42, or 0.94%, to 2,087.06.
10:47 EDTGRUBGrubHub guidance conservative, Street estimate going up, says Stifel
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09:04 EDTGRUBGrubHub reports Q2 Active Diners up 42% to 5.93M
Reports Q2 Daily Average Grubs up 26% to 220,100. Reports Q2 Gross Food Sales up 34% to $568M.
09:03 EDTGRUBGrubHub sees FY15 revenue $358M-$364M, consensus $359.86M
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09:03 EDTGRUBGrubHub sees Q3 revenue $85M-$87M, consensus $85.6M
Sees Q3 adjusted EBITDA $23M-$25M
09:02 EDTGRUBGrubHub reports Q2 non-GAAP EPS 17c, consensus 13c
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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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