GrubHub 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.
Internet sector upgraded to Attractive from Neutral at Goldman Goldman upgraded the Americas Internet sector to Attractive to Neutral based on more reasonable valuations, reduced expectations, and strong sector growth. As part of the sector change, the firm upgraded GrubHub (GRUB) to Buy from Neutral, downgraded Shutterfly (SFLY) to Neutral from Buy, and lowered Priceline (PCLN) to Buy from Conviction Buy.