Category Archives: nasdaq

Amazon Expands Food Fight, Adds New York, Dallas To Deliveries

In a continuation of the food delivery wars, Amazon.com ( AMZN ) has extended its service to New York and Dallas, available to Amazon Prime members. In New York, the food delivery service — called Amazon Restaurants — is available from more than 350 local restaurants spanning 40 cuisine types across Manhattan, Amazon said in the announcement. Once an order is placed, Amazon’s partners deliver the food in an hour or less. Amazon initially launched its food delivery service in Seattle eight months ago. Coverage areas also currently include San Francisco; Los Angeles; San Diego; Austin, Texas; Portland, Ore.; Baltimore and Chicago. The expansion puts additional pressure on food delivery service providers such as GrubHub ( GRUB ), UberEats and Postmates. Amazon shares were near 704, down 1%, in early trading in the stock market today . Amazon stock, though, has been on a roll. It hit an all-time high of 722.45 on May 12, but it’s 17% extended from a 603.34 buy point out of a cup-with-handle base, touched on April 11. GrubHub stock was down 3% early Tuesday, near 24.50. What’s the short-term outlook on Amazon? Take a look at IBD’s SwingTrader .

Apple Suppliers Are Among Touted Chips, While Intel Seen A Laggard

CLSA started coverage on a host of chip stocks, including some Apple ( AAPL ) suppliers, trying to separate the wheat from the chaff among Microchip Technology ( MCHP ), NXP Semiconductors ( NXPI ), Broadcom ( AVGO ), Intel ( INTC ) and others. CLSA gave a buy rating to NXP, a supplier to Apple and the automotive market, with a 105 target. NXP rose 0.7% in pre-market trading on the stock market today . . Broadcom, another Apple supplier, gets an outperform rating from CLSA, with a 165 target. Broadcom rose fractionally before the open. CLSA gave a buy rating to Microchip with a 58 target. Microchip rose slightly. Intel is seen underperforming the market with a 30 target. Intel shares were little changed after closing Monday at 30.39. One analyst thinks Darden Restaurants ( DRI ) is looking tasty, while another is curbing enthusiasm for F5 Networks ( FFIV ). Piper Jaffray raised Darden to an outperform with a 78 target. Darden was little changed. F5 Networks got a downgrade to sector weight from overweight at Pacific Crest as shares neared its prior 109 price target. Shares fell a fraction. FBR Capital thinks now is a good time to wade back into the oil patch, upgrading Halliburton ( HAL ) to outperform from market perform and raising its target to 49 from 44. Halliburton rose slightly.