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Stock Market & Financial Investment News

News Breaks
June 13, 2014
12:59 EDTYELP, PCLN, GRUB, AWAY, OPENAnalyst sees Priceline expanding in more areas after OpenTable buy
After Priceline Group (PCLN) agreed to buy OpenTable (OPEN), which operates an online restaurant reservation network, research firm Piper Jaffray predicted that Priceline would probably expand into additional areas. WHAT'S NEW: Priceline can move into additional categories, including events, ride sharing, and attractions, Piper analyst Michael Olson wrote. The company's decision to buy OpenTable shows that it is poised to move into new business areas, Olson contended. As for the OpenTable deal, the analyst thinks that there are obvious synergies between online travel and online restaurant reservations, and that the two companies will be able to promote their respective offerings to each other's customers. Additionally, Priceline's expertise in overseas operations will enable OpenTable to expand to perform more effectively in that area, the analyst contended. He kept an Overweight rating and $1,485 price target on Priceline. OTHERS TO WATCH: Yelp (YELP) allows its users to review local businesses, including restaurants, and its platform provides local businesses with a range of services, including its newly launched reservation system. GrubHub (GRUB) is an online and mobile platform for restaurant pick-up and delivery orders that similarly connects local restaurants with diners. Shares of HomeAway (AWAY), which operates an online marketplace for the vacation rental industry, are also higher, with the move potentially related to investor belief that it could be targeted for an acquisition by one of the larger players in the space. PRICE ACTION: In early afternoon trading, Priceline fell 2.4% to $1,196, while OpenTable soared 47% to $103.50.
News For PCLN;OPEN;GRUB;YELP;AWAY From The Last 14 Days
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September 3, 2015
08:32 EDTPCLNPriceline acquires AS Digital in Australia
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September 1, 2015
16:19 EDTYELPYelp calls active
Yelp September weekly 24.5 and September 28 calls are active on total call volume of 4K contracts (1K puts). September weekly call option implied volatility is at 76, September is at 66, October is at 60; compared to its 52-week range of 38 to 82. Active call volume suggests traders taking positions for price movement.
13:27 EDTYELPYelp may be attractive to TripAdvisor, Google, FT says
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11:13 EDTAWAYHomeAway management to meet with Stephens
Meeting to be held in Chicago on September 9 hosted by Stephens.
07:23 EDTAWAYHomeAway management to meet with William Blair
Meeting to be held in Milwaukee on September 8 hosted by William Blair.
August 31, 2015
17:28 EDTPCLNHotels add perks to compete with Priceline, Expedia, NY Times says
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August 30, 2015
21:03 EDTYELPGoogle adds home service professionals to search results, WSJ says
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August 28, 2015
08:13 EDTGRUBEtsy,GrubHub should be bought now by risk-tolerant investors, says Brean Capital
Brean Capital still considers Etsy (ETSY) a high quality growth stock, citing its long term growth potential from its efforts to exploit its platform through its Seller Services effort. Brean also considers GrubHub (GRUB) a high quality growth stock, as it argues that that the online restaurant delivery market will play out like the online travel market, with room for multiple winners. Brean Capital reiterated its $23 price target on Etsy shares and its $50 target on GrubHub shares, stating that now is the time for investors who can tolerate more risk to purchase shares of each. The firm keeps Buy ratings on both stocks.
August 27, 2015
10:00 EDTYELPOn The Fly: Analyst Upgrade Summary
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06:08 EDTYELPYelp upgraded to Neutral from Sell at B. Riley
As previously reported, B. Riley upgraded Yelp to Neutral from Sell and a $22 price target on shares. The firm upgraded shares due to valuation and reasonable guidance.
05:19 EDTYELPYelp upgraded to Neutral from Sell at B. Riley
August 26, 2015
10:12 EDTPCLNGoogle climbs after Goldman upgrade, Cantor endorsement
The shares of Google (GOOG, GOOGL) are rallying after Goldman Sachs upgraded the search giant's stock and Cantor Fitzgerald named the stock as one of the top five Internet names to buy amid the market's recent selloff. WHAT'S NEW: Google is in the early innings of a long-term margin expansion process as the search giant intensifies its focus on cost cutting, Goldman analyst Heather Bellini wrote in a note to investors today. Moreover, after conducting checks, Bellini is more upbeat on the company's ability to increase its monetization of YouTube and mobile search. The analyst, who believes that cost cutting combined with the increased monetization is starting to move the needle for the company, hiked her price target on Google's Class A stock to $800 from $660, upgraded the stock and added the shares to Goldman's Americas Conviction List. Meanwhile, Cantor Fitzgerald analyst Youssef Squali named Google as one of his top five Internet stocks to buy amid the market's recent volatility. Google is "relatively resilient," given its 91% share of the global search market as of July and its $61B of net cash as of the end of Q2, the analyst believes. Moreover, the company has virtually no exposure to China and its new corporate structure should improve its transparency, Squali believes. He kept a $720 price target and Buy rating on the stock. WHAT'S NOTABLE: The other four companies on Squali's list of top Internet stocks are Amazon (AMZN), Priceline (PCLN), Facebook (FB), and Alibaba (BABA). PRICE ACTION: In early trading, Google's Class A shares rose 4.4% to $640 and its Class C shares advanced nearly 5% to $610.
10:00 EDTGRUBOn The Fly: Analyst Downgrade Summary
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07:44 EDTGRUBGrubHub downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded GrubHub to Equal Weight and lowered its price target to $32 from $42. The firm believes new start-ups, aided by venture capital funding, is making growth in non-core markets difficult, combined with slowing core growth from increasing saturation.
07:25 EDTPCLNCantor names top five Internet names to buy during selloff
Cantor Fitzgerald analyst Youssef Squali said he "won't attempt to call the bottom" but identified his top five Internet and Media names to buy amid the recent market volatility, all of which have dominance in their respective markets, higher than peer level growth and valuations that he views as reasonable. Squali, who noted that he views concerns over macro risks and China to be overblown, called out Google (GOOG), Amazon (AMZN), Priceline (PCLN), Facebook (FB) and Alibaba (BABA) as having an attractive risk/reward given the selloff in recent sessions. The firm has Buy ratings on all five of the stocks named above.
August 25, 2015
12:51 EDTPCLNPriceline August weekly volatility increases on wide price movement
Priceline August weekly call option implied volatility is at 45, September is at 35; compared to its 52-week range of 17 to 41, suggesting large near term price movement.
11:23 EDTPCLNAnalyst says Priceline undervalued, looks poised to outperform
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09:13 EDTYELPTrends still positive for Google, Amazon, Facebook ahead of holidays, says Baird
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07:45 EDTPCLNPriceline shares still undervalued with issues stabilizing, says Piper Jaffray
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