Egypt- Uber Eats celebrates 1bn orders delivered to Eaters worldwide

(MENAFN – Daily News Egypt) In less than four years, Uber Eats has delivered 1bn Eats orders to more than 500 cities around the world, all while …

(MENAFN – Daily News Egypt) In less than four years, Uber Eats has delivered 1bn Eats orders to more than 500 cities around the world, all while keeping the average delivery time under 30 minutes.

Uber Eats is changing the way people eat by making food for all occasions, in any location, available for delivery at the push of a button.

Across Europe, the Middle East, and Africa, Uber Eats partners with 60,000+ restaurants in over 250+ cities, curating the best selection of restaurants – from household names like McDonald’s to the local family-run pizzeria.

The announcement comes as data reveals that the growing food delivery market–which is expected to be worth nearly $21bn by 2023–is playing an increasingly important role in the growth of small and medium sized restaurants. For the 70% of Uber Eats restaurants that are small and medium sized businesses, food delivery is expected and accounts for an increasing proportion of their overall revenue.

Uber Eats launched in Egypt in 2018, and has expanded its operations to 13 districts across Cairo while partnering with more than 1,000 restaurants to serve local consumers.

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Grubhub (Put) (GRUB) Shareholder Jefferies Group Lifted Stake; As Lululemon Athletica (LULU …

Some Historical GRUB News: 06/04/2018 – Postmates and DoorDash have discussed a merger to fend off Uber, GrubHub and Amazon; 01/05/2018 …

Jefferies Group Llc increased its stake in Grubhub Inc (Put) (GRUB) by 335.68% based on its latest 2019Q2 regulatory filing with the SEC. Jefferies Group Llc bought 242,700 shares as the company’s stock declined 5.29% . The institutional investor held 315,000 shares of the business services company at the end of 2019Q2, valued at $24.57 million, up from 72,300 at the end of the previous reported quarter. Jefferies Group Llc who had been investing in Grubhub Inc (Put) for a number of months, seems to be bullish on the $6.07 billion market cap company. The stock decreased 1.04% or $0.7 during the last trading session, reaching $66.4. About 1.04M shares traded. Grubhub Inc. (NYSE:GRUB) has declined 45.58% since September 14, 2018 and is downtrending. It has underperformed by 45.58% the S&P500. Some Historical GRUB News: 06/04/2018 – Postmates and DoorDash have discussed a merger to fend off Uber, GrubHub and Amazon; 01/05/2018 – GRUBHUB 1Q ADJ EPS 52C, EST. 38C; 23/04/2018 – RAN SEES 60% UPSIDE FOR GRUBHUB AT SOHN CONFERENCE; 17/05/2018 – GrubHub Favored by 6 Hedge Funds, 13Fs Show; 23/04/2018 – SOHN CONFERENCE: HALF SKY CAPITAL CHIEF INVESTMENT OFFICER Ll RAN DISCUSSING GRUBHUB; 08/05/2018 – Chicagoans Can Now Order from Grubhub Through Groupon; 22/04/2018 – Uber Eats is the fastest-growing meal delivery service in the U.S., bringing in nearly as much new customer revenue as GrubHub:; 30/05/2018 – GrubHub Closes Above 50-Day Moving Average: Technicals; 06/04/2018 – Postmates and DoorDash have discussed a merger to fend off Uber, GrubHub and Amazon Postmates faces a challenge: Profitability seems a long way off, and rival DoorDash has a big investment from SoftBank; 24/04/2018 – GrubHub Closes Below 50-Day Moving Average: Technicals

Strs Ohio increased its stake in Lululemon Athletica Inc (LULU) by 713.18% based on its latest 2019Q2 regulatory filing with the SEC. Strs Ohio bought 94,354 shares as the company’s stock rose 8.78% . The institutional investor held 107,584 shares of the apparel company at the end of 2019Q2, valued at $19.39M, up from 13,230 at the end of the previous reported quarter. Strs Ohio who had been investing in Lululemon Athletica Inc for a number of months, seems to be bullish on the $25.43B market cap company. The stock decreased 1.79% or $3.55 during the last trading session, reaching $195.18. About 1.09 million shares traded. Lululemon Athletica Inc. (NASDAQ:LULU) has risen 60.80% since September 14, 2018 and is uptrending. It has outperformed by 60.80% the S&P500. Some Historical LULU News: 27/03/2018 – LULULEMON 4Q TOTAL COMP INCL DTC EX-FX +42%, EST. +8.6%; 14/05/2018 – HS Management Partners LLC Exits Position in Lululemon; 27/03/2018 – LULULEMON EXECUTIVE CHAIRMAN GLENN MURPHY COMMENTS ON CALL; 27/03/2018 – Lululemon Athletica, FactSet and Sonic are all expected to publish their latest financial reports; 27/03/2018 – Lululemon Sees FY Rev $2.985B-$3.022B; 27/03/2018 – LULULEMON ATHLETICA INC LULU.O SEES FY 2018 REVENUE $2.985 BLN TO $3.022 BLN; 27/03/2018 – LULULEMON EARNINGS CALL ENDS; 16/04/2018 – Athletic apparel maker Lululemon names Patrick Guido CFO; 27/03/2018 – LULULEMON ATHLETICA – QTRLY COMPARABLE STORE SALES INCREASED 2%, OR INCREASED 1% ON A CONSTANT DOLLAR BASIS; 27/03/2018 – LULULEMON ATHLETICA INC – SEES FY 2018 TOTAL COMPARABLE SALES INCREASE IN MID-TO-HIGH SINGLE DIGITS ON A CONSTANT DOLLAR BASIS

More notable recent Lululemon Athletica Inc. (NASDAQ:LULU) news were published by: Nasdaq.com which released: “Lululemon (LULU) 2nd Quarter Earnings: What to Expect – Nasdaq” on September 05, 2019, also Nasdaq.com with their article: “Digital & Global Growth to Aid lululemon’s (LULU) Q1 Earnings – Nasdaq” published on June 10, 2019, Nasdaq.com published: “Consumer Sector Update for 09/06/2019: CTHR,ZUMZ,LULU – Nasdaq” on September 06, 2019. More interesting news about Lululemon Athletica Inc. (NASDAQ:LULU) were released by: Nasdaq.com and their article: “Is lululemon (LULU) Poised to Post Earnings Beat Again in Q1? – Nasdaq” published on June 04, 2019 as well as Nasdaq.com‘s news article titled: “Buy Nike Stock Ahead of Q1 Earnings, Amid LULU & Adidas Competition? – Nasdaq” with publication date: September 10, 2019.

Strs Ohio, which manages about $22.49B US Long portfolio, decreased its stake in Spirit Realty Capital Inc. by 7,395 shares to 117,663 shares, valued at $5.02M in 2019Q2, according to the filing. It also reduced its holding in T Rowe Price Group Inc. (NASDAQ:TROW) by 12,978 shares in the quarter, leaving it with 3,094 shares, and cut its stake in Expeditors Int’l. Wash Inc. (NASDAQ:EXPD).

Investors sentiment increased to 1.37 in Q2 2019. Its up 0.09, from 1.28 in 2019Q1. It increased, as 38 investors sold LULU shares while 149 reduced holdings. 92 funds opened positions while 165 raised stakes. 100.52 million shares or 0.09% less from 100.61 million shares in 2019Q1 were reported. Cognios Cap Ltd holds 0.53% of its portfolio in Lululemon Athletica Inc. (NASDAQ:LULU) for 7,690 shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh reported 1,609 shares. Morgan Stanley reported 0.04% stake. Meeder Asset Mgmt Inc stated it has 0.17% in Lululemon Athletica Inc. (NASDAQ:LULU). 10,161 are owned by Cambridge Rech Advsrs Inc. Moreover, Avalon Glob Asset Llc has 2.64% invested in Lululemon Athletica Inc. (NASDAQ:LULU) for 31,080 shares. The France-based Natixis has invested 0.28% in Lululemon Athletica Inc. (NASDAQ:LULU). Amalgamated Commercial Bank holds 0.06% or 14,081 shares. Fund Management holds 262,082 shares or 0.43% of its portfolio. Advent Intl Ma stated it has 20.64% of its portfolio in Lululemon Athletica Inc. (NASDAQ:LULU). Strs Ohio holds 0.09% of its portfolio in Lululemon Athletica Inc. (NASDAQ:LULU) for 107,584 shares. Earnest Prtn Ltd Co invested in 0% or 37 shares. Alley Ltd Liability Corporation accumulated 1,200 shares. The Hong Kong-based Segantii Cap Management Limited has invested 1.04% in Lululemon Athletica Inc. (NASDAQ:LULU). Accuvest Advsrs owns 1.1% invested in Lululemon Athletica Inc. (NASDAQ:LULU) for 10,431 shares.

More notable recent Grubhub Inc. (NYSE:GRUB) news were published by: Finance.Yahoo.com which released: “The Grubhub (NYSE:GRUB) Share Price Is Up 128% And Shareholders Are Boasting About It – Yahoo Finance” on June 01, 2019, also Finance.Yahoo.com with their article: “Stocks – Lululemon, Docusign Rise Premarket; Beyond Meat Falls – Yahoo Finance” published on September 06, 2019, Fool.com published: “3 Surprising Stocks Hitting New Lows Last Week – Motley Fool” on August 19, 2019. More interesting news about Grubhub Inc. (NYSE:GRUB) were released by: Seekingalpha.com and their article: “GrubHub becomes McDelivery partner; shares +4% – Seeking Alpha” published on September 05, 2019 as well as Finance.Yahoo.com‘s news article titled: “A Foolish Take: DoorDash Steals the Food Delivery Crown From Grubhub – Yahoo Finance” with publication date: August 26, 2019.

Lululemon Athletica Inc. (NASDAQ:LULU) Institutional Positions Chart

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Uber Is On Reset Mode Yet Again, Expels Hundreds Of Employees

During that time, Dara Khosrowshahi, CEO had said the step was an attempt necessary to restructure the operations and make it more worthwhile.

The ride-providing company Uber has once again fired almost hundreds of employees. Now, the cut has been made in product and engineering departments in order to reset. The company made a formal announcement where they have mentioned that 435 employees have been fired, 265 from the engineering team and the rest 170 from product department. Uber also informed that layoffs account to 8% of engineering and product teams. However, the layoffs have remained unaffected to both engineering and product staff who work on the other venture by Uber: UberEats, the food delivery service.

This news has made to the headlines and the company is under tremendous pressure to cope up with their finances after a lackluster start at Wall Street during May. The company has experienced sharp losses in the past and even the revenue growth is very slow. Although stocks of Uber has increased by 4% after the news, it is still 25% less than what it used to be.

This employee cut is the second in a row since the company went public just 6 weeks ago. Few days prior to the last earning report which was published in July, Uber eliminated approximately one-third of the staff from global marketing team. 400 lost their jobs. During that time, Dara Khosrowshahi, CEO had said the step was an attempt necessary to restructure the operations and make it more worthwhile.

Dara said that people in general tend to believe that they have grown quite fast, but now is the time for them to slow down. He also said that initially, Uber had hired people without selection and judgment just to meet the demands of a fast growing startup. But, now, organizing the teams in receive maximum efficiency is mandatory for Uber to grow in the business. Uber has denied commenting on whether or not any other departments are being considered for layoffs.

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As Sun Communities (SUI) Stock Rose, Ironwood Investment Counsel Has Increased Position by …

Some Historical GRUB News: 01/05/2018 – GrubHub Sees 2018 Rev $930M-$965M; 06/04/2018 – Postmates and DoorDash have discussed a …

Sun Communities, Inc. (NYSE:SUI) Logo

Barton Investment Management increased its stake in Grubhub (GRUB) by 2.53% based on its latest 2019Q2 regulatory filing with the SEC. Barton Investment Management bought 15,200 shares as the company’s stock declined 5.29% . The institutional investor held 615,447 shares of the business services company at the end of 2019Q2, valued at $48.00M, up from 600,247 at the end of the previous reported quarter. Barton Investment Management who had been investing in Grubhub for a number of months, seems to be bullish on the $6.04 billion market cap company. The stock decreased 1.46% or $0.98 during the last trading session, reaching $66.12. About 473,664 shares traded. Grubhub Inc. (NYSE:GRUB) has declined 45.58% since September 13, 2018 and is downtrending. It has underperformed by 45.58% the S&P500. Some Historical GRUB News: 01/05/2018 – GrubHub Sees 2018 Rev $930M-$965M; 06/04/2018 – Postmates and DoorDash have discussed a merger to fend off Uber, GrubHub and Amazon; 23/04/2018 – SOHN CONFERENCE: HALF SKY CAPITAL’S Ll RAN SAYS SEES NEAR 60 PCT UPSIDE IN GRUBHUB TO $160/SHR; 23/04/2018 – Grubhub: A Good Company at the Wrong Price — Barrons.com; 29/05/2018 – MFS New Discovery Fund Adds Lincoln Electric, Exits GrubHub; 01/05/2018 – GRUBHUB NAMES ARTHUR FRANCIS STARRS, III TO BOARD; 18/04/2018 – GRUBHUB INC GRUB.N : MORGAN STANLEY CUTS TO EQUAL-WEIGHT FROM OVERWEIGHT; 10/05/2018 – GRUBHUB INC – PARTNERING WITH JACK IN BOX TO PROVIDE DELIVERY FOR HUNDREDS OF LOCATIONS ACROSS THE COUNTRY; 07/04/2018 – Postmates and DoorDash have discussed a merger to fend off Uber, GrubHub and Amazon:; 19/03/2018 – Yelp and Grubhub Complete Online Ordering Integration

Ironwood Investment Counsel Llc increased its stake in Sun Communities (SUI) by 17.65% based on its latest 2019Q2 regulatory filing with the SEC. Ironwood Investment Counsel Llc bought 2,400 shares as the company’s stock rose 7.30% . The institutional investor held 16,000 shares of the consumer services company at the end of 2019Q2, valued at $2.05 million, up from 13,600 at the end of the previous reported quarter. Ironwood Investment Counsel Llc who had been investing in Sun Communities for a number of months, seems to be bullish on the $13.18 billion market cap company. The stock decreased 0.37% or $0.54 during the last trading session, reaching $145.4. About 560,950 shares traded or 14.19% up from the average. Sun Communities, Inc. (NYSE:SUI) has risen 38.23% since September 13, 2018 and is uptrending. It has outperformed by 38.23% the S&P500. Some Historical SUI News: 26/04/2018 – SUN COMMUNITIES FILES AMENDED AT MARKET OFFERING SALES PACT; 23/04/2018 – Sun Communities Sees 2Q EPS 24c-EPS 28c; 23/04/2018 – SUN COMMUNITIES INC SUI.N FY2018 FFO SHR VIEW $4.56 — THOMSON REUTERS l/B/E/S; 06/03/2018 – SUN COMMUNITIES DECLARES 1Q DIVIDEND 71C/SHR VS 67C, EST. 71C; 23/04/2018 – SUN COMMUNITIES INC – TOTAL PORTFOLIO OCCUPANCY WAS 95.8 PCT AT MARCH 31, 2018 VS 95.9 PCT AT MARCH 31, 2017; 22/05/2018 – REG-Sun Communities, Inc. Declares Second Quarter 2018 Dividends; 23/04/2018 – SUN COMMUNITIES INC SUI.N SEES FY 2018 CORE FFO SHR $4.48 TO $4.58; 24/04/2018 – MHI Announces Largest 50 Manufactured Home Community Owner/Operators

More notable recent Grubhub Inc. (NYSE:GRUB) news were published by: Prnewswire.com which released: “Grubhub Features Hundreds Of Millions Of Dollars In Free Food With The Launch Of “Perks” – PRNewswire” on September 04, 2019, also Finance.Yahoo.com with their article: “Grubhub Inc. (NYSE:GRUB) Insiders Increased Their Holdings – Yahoo Finance” published on July 05, 2019, Globenewswire.com published: “Bragar Eagel & Squire is Investigating Certain Officers and Directors of Ascena Retail Group, AO Smith Corporation, and Grubhub and Encourages Investors to Contact the Firm – GlobeNewswire” on August 26, 2019. More interesting news about Grubhub Inc. (NYSE:GRUB) were released by: Finance.Yahoo.com and their article: “A Foolish Take: DoorDash Steals the Food Delivery Crown From Grubhub – Yahoo Finance” published on August 26, 2019 as well as Fool.com‘s news article titled: “Could California’s AB5 Gig Workers Bill Hurt Grubhub? – Motley Fool” with publication date: September 13, 2019.

Barton Investment Management, which manages about $298.36 million and $669.07M US Long portfolio, decreased its stake in Shopify Inc by 2,044 shares to 302,285 shares, valued at $90.73M in 2019Q2, according to the filing. It also reduced its holding in Equinix Inc (NASDAQ:EQIX) by 1,252 shares in the quarter, leaving it with 47,264 shares, and cut its stake in Alphabet Inc Class A.

Sun Communities, Inc. (NYSE:SUI) Institutional Positions Chart

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Cowen Downgrades Grub on “Narrative Problem,” Recommends Buying Waitr

“Among the four big players, (Grubhub, DoorDash, Uber Eats, Postmates), Grub was the cheapest option for three out of five restaurants.” Grubhub’s …

Cowen, a New York analyst firm that closely follows Grubhub, slightly downgraded its price target for the Chicago-based delivery giant. Following the company’s revised 2019 guidance, the firm lowered its price target from $91 to $86, affirming that it still expects Grub to outperform consensus expectations.

Citing what it called a “healthy core business,” Cowen listed competitive discounting and industry promotions, its 2019 EBITDA guide-down after the second quarter and costs “inevitably ratcheting higher” as the reasons it lowered expectations of share performance.

So far throughout 2019, Grubhub’s stock has decreased significantly from its high-water mark last summer. Its shares are currently trading at approximately $66/share, down from highs near $150/share.

Cowen analysts Thomas Champion, Andrew Charles and Henry Wang wrote that it’s possible their 2020 forecast may be too conservative. They included suggestions for Grubhub, including purchasing Waitr, whose shares are currently trading at less than $2/share, which would give a potential price tag in the $235 million range, including assumed debt and a 40 percent price premium.

They also recommended additional ways of leveraging Grubhub’s recent acquisitions of LevelUp and Tapingo, which haven’t been included in the company’s operating metrics thus far. “This makes sense given they are fundamentally different than delivery orders,” the report read. “However, they contribute substantially to transactional dollar volume on Grub’s platform.”

Their last recommendation was to crank up marketing, specifically around Grub’s “delivery cost value proposition,” which Cowen said is lower than DoorDash, Uber Eats, Postmates, Delivery.com and Caviar, which was recently acquired by DoorDash.

“Of the six delivery providers, Grub was the lowest cost delivery option for two out of the five restaurants, tied with Delivery.com,” it added. “Among the four big players, (Grubhub, DoorDash, Uber Eats, Postmates), Grub was the cheapest option for three out of five restaurants.”

Grubhub’s stock price has edged upward slightly this month, partially boosted by the news that the delivery provider is partnering with McDonald’s to add a delivery option to approximately 500 of McDonald’s restaurants in the greater New York City area.

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