28.48 +0.06 (0.21%)
After hours: 5:52PM EST
|Bid||28.47 x 2900|
|Ask||28.48 x 1000|
|Day's Range||27.85 - 28.55|
|52 Week Range||25.58 - 47.08|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||43.77|
The growth of online shopping and a nationwide truck driver shortage have created a perfect opportunity for Uber. Uber Freight is the fastest growing segment of the ride-hailing company. Yahoo Finance’s Akiko Fujita was joined by Head of Uber Frieght Lior Ron and Uber Shipper Product Lead Stefan Sohlstrom to discuss.
Uber is launching a new feature aimed at skiers and snowboarders. The ride-hailing company said Wednesday that beginning December 17 an Uber Ski icon will pop up on the app that will let customers order a ride with confirmed extra vehicle space or a ski/snowboarding rack. Uber is launching the feature in 23 U.S. cities located in areas near mountain resorts, such as Anchorage, Boise, Boston, Eastern Washington, Flagstaff, Ariz., Grand Rapids, Mich., Green Bay, Wis., Lehigh Valley, Minneapolis-St. Paul, New Hampshire, Portland, Ore., Portland, Maine, Salt Lake City, Seattle, Upstate New York, Vermont, Wilkes-Barre, Scranton and Worcester, Wyo. Riders living in Colorado cities such as Colorado Springs, Denver, Fort Collins and the front range of the Rockies where numerous resorts are located will also have the feature.
In California, the ride-hailing company is changing a policy used as a safeguard against driver discrimination against low-income and minority riders.
(Bloomberg) -- Amazon.com Inc.’s purchase of a minority stake in Deliveroo may get an extended review by U.K. antitrust regulators, who said the purchase could hurt competition by discouraging the American company from re-entering the British food-delivery market on its own.The Competition and Markets Authority will continue to review Amazon’s investment in the fast-growing startup unless they offered remedies to address competition concerns within five days. The investigation, which began in October, may go into a second phase and could eventually result in the blocking of the investment of around $500 million.Over the next four years, the food-delivery business is estimated to increase 12% a year, to $76 billion in 2022, according to investment firm Cowen Inc. While the U.K. market is competitive, Amazon’s size makes it a major force in any sector. The CMA said the deal might end Amazon’s interest, discussed in internal documents, in re-entering the British market through the purchase of another platform. It shuttered its Amazon Restaurants delivery unit in 2018.“Evidence examined in the CMA’s investigation indicated that Amazon has a strong continued interest in the restaurant delivery sector,” the regulator said Wednesday. “The CMA believes that Amazon’s investment in Deliveroo was strategic and that offering rapid food delivery is important to Amazon, and so it may have looked to invest in an alternative business absent the merger.”The original decision to investigate the deal was unusual for the CMA as it doesn’t typically review minority acquisitions. Fears of damage to competition may have been fed by previous mergers by tech giants that were let through by regulators, such as Facebook Inc.’s acquisition of messaging service WhatsApp.Amazon’s British Takeout Leaves an Unpleasant Taste: Alex WebbThere is a “real risk” that Amazon’s investment “could leave customers, restaurants and grocers facing higher prices” because of reduced competition, CMA Executive Director Andrea Gomes da Silva said in the statement.A spokesman for Deliveroo said the company is “confident” it can persuade the CMA the investment will “add to competition,” while an Amazon spokesman said Deliveroo should have “broad access to investors and supporters.”The decision may cause concern for the internet giant, which has already faced European hurdles.It closed its own U.K. food-delivery service in December 2018, with the U.S. unit following the same path several months later. Amazon was among the five big businesses singled out in December by the Labour Party, which said they “exploited, ripped off and dehumanized” their workers, just after regulators in Europe said over the summer that they would start looking into how tech companies protect customers’ privacy.Difficult DecisionsThe CMA has offered Amazon and Deliveroo the chance to avoid an extended probe if they offer changes to its competition worries. Alan Davis, a competition lawyer at Pinsent Masons, said it is “difficult to see immediately what remedies they could offer at Phase 1 to resolve the concerns.”The U.K. food delivery sector is dominated by three players, Just Eat Plc, Uber Technologies Inc.’s unit Uber Eats and Deliveroo. Competition between them is considered fairly fierce, making it difficult to make money. Deliveroo has never made a profit, losing 232 million pounds ($305 million) last year.Meanwhile, Just Eat, the U.K.’s biggest food deliverer by market share, has been in talks with Prosus NV about a possible bid for the firm. The company advised shareholders to reject Prosus’s latest 740 pence-per-share offer Tuesday, preferring them to stick to an all-share combination with Netherlands-based Takeaway.com NV.The CMA decision also puts the undisclosed rights that Amazon acquired as part of the acquisition in the spotlight.“The nature of the CMA’s concerns seems the rights that come with the minority holding,” said Josh Buckland, a competition lawyer at Linklaters. “One potential solution could be to relinquish those rights and stay on board as a minority shareholder.”It’s very likely that the deal would be referred to an in-depth investigation, Buckland said.The CMA also expressed concern about how Amazon’s investment might change the online convenience grocery delivery market outside food. Deliveroo is focused on food delivery, and supermarket chains may rely on it to deliver “ultrafast” groceries because their own logistics providers can’t meet the tight deadlines, the CMA said.“The CMA believes that both parties have major expansion plans in this area which would bring them in closer competition in the future,” the regulator said. “The merger would result in the combination of two of the largest and best established suppliers of online convenience groceries. Most competing grocery retailers that are trialing propositions in this market are reliant on a single logistics supplier” without the scale of either Deliveroo or Amazon.(Updates with comments and detail from seventh paragraph onwards.)To contact the reporter on this story: Eddie Spence in London at email@example.comTo contact the editors responsible for this story: Christopher Elser at firstname.lastname@example.org, Giles TurnerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Like many Uber drivers in Sao Paulo, the ride-hailing app's busiest city in the world, Augusto Caio Pereira does not actually own or lease the car he nudges through the city's notorious traffic jams every day. Instead, he rents Brazil's best-selling car, the Chevrolet Onix hatchback, for 390 reais ($93) a week from Localiza Rent a Car, the country's largest rental company. Pereira lost his job at a law firm a few months ago, joining Brazil's 12 million unemployed.
Like many Uber drivers in Sao Paulo, the ride-hailing app's busiest city in the world, Augusto Caio Pereira does not actually own or lease the car he nudges through the city's notorious traffic jams every day. Instead, he rents Brazil's best-selling car, the Chevrolet Onix hatchback, for 390 reais ($93) a week from Localiza Rent a Car , the country's largest rental company. Pereira lost his job at a law firm a few months ago, joining Brazil's 12 million unemployed.
Uber Technologies, Inc. (NYSE: UBER) announced today that Dara Khosrowshahi, chief executive officer, will participate in a keynote at the Barclays 2019 Global Technology, Media and Telecom Conference on Wednesday, December 11, 2019. Mr. Khosrowshahi is scheduled to appear at 3:30 p.m. Eastern Time.
When it comes to M&A, cash is usually king. Not so for Just Eat which on Tuesday rejected an improved offer from Prosus saying the new bid still “significantly undervalued” the U.K. food delivery company.
(Bloomberg) -- OMERS Ventures, the venture capital wing of the Canadian pension plan, has hired former Uber Technologies Inc. executive Jambu Palaniappan to become a managing partner in its London office.Palaniappan spent nearly six years at Uber, most recently leading the expansion of Uber Eats in Europe, the Middle East and Africa, according to his LinkedIn page, and recently joined the board of Just Eat Plc. After an intense few years at the Silicon Valley startup, Palaniappan said he moved to London and began mentoring startups as he decided what to do next.The Ontario Municipal Employees Retirement System expanded its venture capital operations into Europe this year, setting up a 300 million-euro ($332 million) fund for early stage European technology companies. It’s part of a global expansion strategy for the Toronto-based pension giant and the firm opened a Silicon Valley office earlier in the year.“This isn’t about making rich people richer. This is about helping to build a retirement plan and provide access to venture returns to a larger group of people,” Palaniappan said in an interview. OMERS Ventures was started in 2011 in response to a dearth of startup funding in Canada following the last recession. It’s known for being among the first to invest in a resurgent wave of Canadian tech startups, including Shopify Inc., Hootsuite Inc. and Hopper Inc. The fund has invested more than 76 million euros in Europe so far in companies including WeFox, Resi, FirstVet, and Quorso.Investments in European tech companies are surging, helped by an influx of venture capital from North America and Asia, according to a report from Atomico last month. European tech companies are set to raise a record $34.3 billion in 2019, up from $24.6 billion last year. About $10 billion of that is coming from North America, up 72% from last year.OMERS’s European fund is led by Harry Briggs, who was previously a principal at Balderton Capital and founding partner at BGF Ventures. It also hired Turo Inc. co-founder and former LocalGlobe partner Tara Reeves this year.(Updates with commnets from Palaniappan in fourth paragraph.)To contact the reporter on this story: Amy Thomson in London at email@example.comTo contact the editor responsible for this story: Giles Turner at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Just Eat Plc has rejected Prosus NV’s higher bid saying that the latest offer still significantly undervalues the company.Prosus raised its offer for the U.K. food delivery firm by 4.2% to 740 pence-per-share offer on Monday. Just Eat advised shareholders to stick with an all-share combination with Takeaway.com NV in a statement on Tuesday.Just Eat’s stock has been trading above the offer price as shareholders hold out for a bigger premium. It closed at 781 pence in London trading on Monday valuing the company at about 5.3 billion pounds ($7 billion).Analysts at Liberum said that the offer undervalued the company and was likely to be rejected by shareholders, while other analysts said Prosus’s bid could put pressure on Takeaway to bump. Cat Rock Capital Management, which owns shares in both Takeaway and Just Eat, has said a Prosus cash bid would need to be 925 pence to compete with the merger.Read more about what analysts are saying here.The Just Eat board recommends the Takeaway offer, which is “based on a compelling strategic rationale that allows shareholders to participate in the upside potential of the enlarged group and, based on its own analysis, will deliver greater value creation to Just Eat Shareholders than the Prosus Offer of 740 pence per share in cash,” the company said in the statement.What Bloomberg Intelligence SaysProsus’ unsurprising increased hostile cash offer for Just Eat of 7.4 pounds a share from 7.1 pounds, still doesn’t make it irresistible to shareholders, as it denies the potential growth of a combined Just Eat-Takeaway.com. Sweetening from both sides is possible, even after Dec. 27, in our view, with the new offer 5% below the U.K. online food-delivery leader’s last share price.\-- Diana Gomes, BI technology analystJust Eat May Get Sweeter Combo Takeaway.com Offer to Defy RivalsWhile the Takeaway.com deal values Just Eat shares at about 694 pence, the merger would create a sizeable European food-delivery company to compete with the likes of Uber Eats. Just Eat shareholders would own about 52% of the newly combined company.Shareholders have until Dec. 27 to accept Prosus’s new offer. Prosus needs investors with more than 50% of shares to agree to the deal for it to go through.(Updates with analyst comments from the fourth paragraph)To contact the reporter on this story: Amy Thomson in London at email@example.comTo contact the editor responsible for this story: Giles Turner at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Prosus NV’s latest bid to acquire food delivery specialist Just Eat Plc was still little more than an appetizer.The Amsterdam-based technology investment firm raised its offer a measly 4.2% to 740 pence-per-share, while lowering the acceptance threshold to 50%. It had little alternative but to increase the value of its proposal: the recent recovery in shares of counterbidder Takeaway.com NV meant that company’s all-stock offer had closed the gap to Prosus’s cash bid, while offering the potential for more upside from the combined entity. The new bid, which was unanimously rejected by the Just Eat board on Tuesday, nonetheless increases the pressure on the Takeaway.com bid as it nears its Dec. 11 deadline for investors to tender their Just Eat stock.Just Eat shares have been trading above 780 pence, higher than both offers. Investors are still expecting a main course — in the form of more generous bids — and they’re right to do so. Takeaway.com’s initial offer back in July looked mightily opportunistic. It could think about giving Just Eat shareholders more of the combined company, up from the current offer of 52%. Prosus’s net cash position means it has plenty of scope to return with a higher bid.Even with the new bid, Just Eat still looks cheap. The Prosus offer values it at just 22 times predicted 2020 Ebitda. Takeaway.com and U.S. peer GrubHub Inc. are valued at 60 times and 32 times forward earnings respectively. Both of Just Eat’s suitors should be able to offer more without riling their own investors.For sure, the British firm has its problems. It faces heightened competition in its home market from Uber Technologies Inc.’s food delivery arm and Deliveroo, which is seeking regulatory approval for a massive cash injection from Amazon.com Inc. It’s also been slow to build out captive delivery networks, which can help attract new restaurants and foster growth (albeit at the cost of short-term profitability).But there’s a reason that the bun fight is over Just Eat, rather than Deliveroo, which has been up for sale at various times over the past 18 months. Just Eat enjoyed an operating profit of 124 million pounds ($163 million) on sales of 780 million pounds last year, while Deliveroo endured a 257 million-pound loss on revenue of just 476 million pounds. Yet the smaller firm was still seeking a valuation of more than 4 billion pounds in its most recent private fundraising round.With each passing month at the center of the takeover scrap, Just Eat risks losing out to its rivals, not least because it has yet to appoint a permanent CEO after the departure of Peter Plumb in January. If neither bidder emerges victorious by their respective deadlines (Dec. 11 for Takeaway.com; Dec. 27 for Prosus), then perhaps the U.K.’s Takeover Panel will step in to create a formal auction and seek final bids.As it stands, Just Eat investors have good reason to ask for a bigger sweetener.To contact the author of this story: Alex Webb at email@example.comTo contact the editor responsible for this story: Melissa Pozsgay at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Last year Uber passengers spent $41.5bn and rode more than 26bn miles. Net losses showed that this was not a big enough market to benefit from the economies of scale that are supposed to make the company profitable. This concern has weighed on Uber’s share price since the company went public in May. Its shares trade 38 per cent below their listing price.
(Bloomberg) -- The slump in SoftBank Group Corp.’s shares could prompt Masayoshi Son to play an ace card -- cashing in part of his stake in Alibaba Group Holding Ltd.Son is likely to sell Alibaba stock to help pay for another buyback in an attempt to bolster SoftBank shares, according to Jefferies Group analyst Atul Goyal. It’s a surprise the Japanese technology giant’s shares are “languishing” despite its large stake in Alibaba, Goyal wrote in a note. The shares have become “decoupled,” and SoftBank is seeing little upside from its holding, he said. SoftBank’s stock is up 16% this year, while Alibaba’s has surged 45%. SoftBank’s market cap is about $82 billion, though its Alibaba shares alone are worth about $128 billion.SoftBank’s February announcement of a record 600 billion yen ($5.5 billion) buyback sent its shares to a peak in April, but the stock has since lost most of the gains. Investors have been spooked by the one-two punch of Uber Technologies Inc.’s plunge after an initial public offering in June and WeWork’s meltdown that forced a bailout by SoftBank. The poor performance of Son’s two marquee investments called into question the billionaire founder’s deal-making approach just as he’s trying to raise a successor to his $100 billion Vision Fund.As the current stock price is “well below” the average price paid in the stock repurchase earlier this year, “we will not be surprised if SoftBank Group funds yet another buyback, perhaps in February 2020, by selling some more stake in Alibaba,” Goyal said.SoftBank’s sale of part of its stake in the Chinese e-commerce giant earlier this year and using Alibaba shares as collateral for a loan indicate Son’s willingness for such a move, Goyal said. In addition to buybacks, proceeds could be used for investment in the second Vision Fund, the analyst said.Responding to criticism about his reluctance to exit successful investments, Son in June 2016 unveiled a plan to sell 73 million American Depositary Shares in the online mall operator. The complex transaction, structured so that he could retain some upside if the stock rose, took three years to complete. SoftBank booked 1.2 trillion yen in pre-tax profit from the deal and still holds about 26% of Alibaba.To contact the reporters on this story: Kurt Schussler in Tokyo at email@example.com;Pavel Alpeyev in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Lianting Tu at email@example.com, ;Edwin Chan at firstname.lastname@example.org, Peter Elstrom, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
NEW YORK, NY / ACCESSWIRE / December 9, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Uber Technologies Inc. ("Uber" or the "Company") (NYSE:UBER). Such investors ...
The report did not mention the deal terms but said the price mainly covered the cost of hiring the team behind the Silicon Valley-based company that makes the software used in autonomous driving. Uber's simulation software has suffered from various deficiencies and still has trouble predicting how its self-driving car prototypes will handle the real world, the report said, citing the source. Foresight did not immediately respond to Reuters request for comment.
The 2010s was an era of dramatic growth for the stock market. Climbing out of the depths of the financial crisis, growth stocks soared as interest rates fell to rock-bottom levels. Investors also returned to the market as stock growth, and eventually jobs, made a comeback.On Jan. 1, 2010, the S&P 500 stood at 1,123.58. This year, it finally broke through the 3,000 level. It stands at around 3,120 as of the time of this writing. This represents an increase of almost 178% in the 2010s.However, some growth stocks saw increases far exceeding that level. As technological change and the creative destruction of capitalism both birthed and destroyed industries, some long-term investors saw massive returns. Some of these equities received a significant amount of coverage in the financial press. Others remain unknown to much of the investing public.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Energy Stocks That Are Still Worth Buying In 2020 Still, the changes brought about by these forces will likely bring new growth stocks for the 2020s. Hence, one cannot assume this growth should continue. However, by understanding the influences that grew the following equities, investors can help themselves to prepare for hopefully a new roaring '20s. Domino's Pizza (DPZ)Source: Ken Wolter / Shutterstock.com Split-adjusted closing price on Dec. 31, 2009: $7.20 Approximate price today: $288 per share Gain in 2010s: 3,889%Seeing Domino's Pizza (NYSE:DPZ) stock at the top of the list might come as a surprise. The first Domino's opened in 1960. The pizza chain began offering the "30-minute guarantee" for pizza delivery in 1973. However, it dropped the 30-minute guarantee in 1993 following a lawsuit, and the pizza chain suffered well into the 2000s due to numerous challenges.However, in 2010, J. Patrick Doyle took over as CEO. Doyle acknowledged the issues facing Domino's and initiated a successful marketing campaign. He also adjusted to the times as a significant portion of the order process shifted to online platforms. DPZ stock soared as both customers and investors responded well to the changes.Still, as one of the top growth stocks, DPZ faces new challenges. Richard Allison took over as CEO in July 2018. Now delivery services such as Uber (NYSE:UBER) and Grubhub (NYSE:GRUB) enable deliveries for more of its competitors.The projected average earnings increase of 12.8% per year for the next five years appears solid. However, at a forward price-to-earnings ratio of around 27, that growth does not come cheap. Investors should watch carefully as DPZ stock faces a bright if somewhat uncertain future. Netflix (NFLX)Source: Riccosta / Shutterstock.com Split-adjusted closing price on Dec. 31, 2009: $7.87 per share Approximate price today: $305 per share Gain in 2010s: 3,773%Seeing Netflix (NASDAQ:NFLX) on this growth stocks list does not come as a surprise. The company first pioneered the DVD mail-order and streaming industries. Both events forced the video store industry and companies such as Blockbuster Video and Hollywood Video to close their doors.This industry also had the effect of making much pricier cable-TV plans less desirable. Both trends helped NFLX stock to skyrocket.However, the 2020s may look much different for Netflix stock. The success of streaming has brought competition from many sectors. Of those, Disney (NYSE:DIS) has become the most notable threat. A formidable content library and a streaming service for sports could blunt further gains in NFLX stock for the foreseeable future. Netflix has also damaged its balance sheet by taking on massive debts to keep up in the content race. * 7 Entertainment Stocks to Buy to Escape Holiday Blues The forward P/E ratio of 55 has come down in recent years. Also, the market capitalization has now risen to almost $134 billion. However, analysts project the profit growth rate of an average of 42.2% per year over the next five years. While NFLX stock will likely see much slower growth in the 2020s, international expansion could still take it higher. MarketAxess Holdings (MKTX)Source: Shutterstock Split-adjusted closing price on Dec. 31, 2009: $12.48 per share Approximate price today: $370 per share Gain in 2010s: 2,864%The massive growth over the last ten years has failed to make MarketAxess (NASDAQ:MKTX) a household name among growth stocks. Perhaps this is because the New York-based international fintech company deals little with the general public. Instead, it enables institutional investors and broker-dealers to trade several types of fixed-income products.MKTX stock generates most of its income from commissions. It grew as investors showed an increasing interest in bonds during the 2010s.Despite the impressive 2,864% growth over the last ten years, I would hesitate to buy it now. Wall Street predicts earnings increases will average 15.7% per year over the next five years. However, 60.1 times forward earnings seems pricey for such a growth rate.Still, I recommend keeping MKTX stock on a watch list. At a market cap of around $14 billion, it could have room to grow long term. A hiccup in bonds or the overall market could interrupt its move higher. If the P/E ratio falls more in line with the growth rate, I think MarketAxess will again become a buy. DexCom (DXCM)Source: FOOTAGE VECTOR PHOTO / Shutterstock.com Split-adjusted closing price on Dec. 31, 2009: $8.07 per share Approximate price today: $221 per share Gain in 2010s: 2,638%Like MarketAxess, the growth of DexCom (NASDAQ:DXCM) has also occurred without a significant amount of public attention. Based in San Diego, this company commercialized glucose monitoring. This has only grown in significance as the aging of the baby-boom population sparks a rise in cases of diabetes.Moreover, about 10,000 baby boomers age into Medicare every day. Analysts expect this trend to endure for most of the next decade. DXCM stock should rise along with it. From an investor standpoint, this and the population already on Medicare helps to make monitoring more affordable.The rise in DXCM stock has left it with a forward P/E of around 122. At such levels, investors should remain cautious. However, Wall Street also expects earnings increases expected to average 78% per year over the next five years. Hence, traders can easily see why DexCom stock attracts such a premium. * 7 Exciting Biotech Stocks to Buy Now Admittedly, we all want to see a cure for diabetes. If this occurs, it could devastate DXCM stock. However, as long as it remains a health issue covered by Medicare, DexCom should remain one of the top growth stocks. Exact Sciences (EXAS)Source: Shutterstock Split-adjusted closing price on Dec. 31, 2009: $3.39 per share Approximate price today: $86 per share Gain in 2010s: 2,430%Consumers may not know the company Exact Sciences (NASDAQ:EXAS) well. However, it has become one of the top growth stocks for a product the public knows better, Cologuard. Thanks to Cologuard, patients can diagnose colon cancer early. Cologuard can do this without an invasive and more expensive colonoscopy. This reduces medical costs and means more people can detect colon cancer before tumors spread to other parts of the body.The Food and Drug Administration approved Cologuard in 2014. Consequently, nearly all of the stock price growth occurred after 2015. Moreover, despite the benefits of Cologuard, analysts do not forecast a profit for EXAS stock until 2021. At a price-to-sales ratio of 17, it has become an expensive investment. However, with revenue nearly doubling every year, investors have shown willingness to pay such a multiple.The benefits of Exact Sciences' popular product do not need an explanation. As long as this patent remains in force, I see growth continuing for EXAS stock despite the massive increase in the second half of the 2010s. Abiomed (ABMD)Source: Pavel Kapysh / Shutterstock.com Split-adjusted closing price on Dec. 31, 2009: $8.73 per share Approximate price today: $188 per share Gain in 2010s: 2,076%Abiomed (NASDAQ:ABMD) makes medical devices to help the pumping functions within the human heart. They have also developed artificial hearts.Admittedly, ABMD stock might have become the biggest of the growth stocks had this analysis occurred at a different time. The pace of growth began to accelerate in 2014. By October 2018, Abiomed peaked at $459.75 per share. However, ABMD stock began to fall when the FDA warned of risks from its Impella RP heart pump. Still, the declines may have stopped as the FDA deemed the Impella RP "safe and effective" back in May. Since August it has rarely risen above $200 per share. Today, it trades at about $188 per share. * 7 Hot Stocks for 2020's Big Trends Thanks to the decline, the forward P/E ratio has fallen to around 37. Profits fell this year. However, double-digit earnings increases should return next year. For the next five years, analysts predict earnings will rise by an average of 24% per year. Like DexCom, it will also benefit as more Americans age into Medicare. As this helps to lead more patients to its heart treatments, ABMD stock should resume its growth pattern. Broadcom (AVGO)Source: Sasima / Shutterstock.com Split-adjusted closing price on Dec. 31, 2009: $15.34 per share Approximate price today: $315 per share Gain in 2010s: 1,939%The San Jose-based semiconductor company Broadcom (NASDAQ:AVGO) has made itself one of the most significant growth stocks primarily through buying other companies. Formerly known as Avago Technologies, it got its name when it bought another semi company called Broadcom in 2015.Still, AVGO has faced some controversy. Its business with Huawei likely led President Donald Trump's administration to block the Qualcomm (NASDAQ:QCOM) purchase. This came even though the company moved its headquarters back to San Jose after basing its operations in Singapore for a time.However, AVGO stock should grow on future acquisitions. Also, despite its move higher, AVGO stock remains cheap. It currently trades at a forward P/E ratio of about 13.5. Moreover, analysts forecast earnings increases, which have stagnated recently, to return to double-digit levels. They predict almost 17% per-year average growth for the next five years.The ties to China may give some investors pause. However, as China and the U.S. resolve their disputes, AVGO stock should continue its growth well into the 2020s. Jazz Pharmaceuticals (JAZZ)Source: Michael Vi / Shutterstock.com Split-adjusted closing price on Dec. 31, 2009: $7.88 per share Approximate price today: $150 per share Gain in 2010s: 1,789%Dublin, Ireland-based Jazz Pharmaceuticals (NASDAQ:JAZZ) develops treatments in the areas of sleep as well as hematology and oncology. It derives the majority of its revenue from a drug called Xyrem. However, it has transitioned to newer therapies such as Erwinaze, Defitelio and Vyxeos.Despite its huge run-up, it could again become one of the more prominent growth stocks in the 2020s. For now, it sells at a forward P/E ratio of about 8.7. Also, even with the low multiple, revenue growth remains at double-digit levels. Moreover, Wall Street foresees average earnings increases of 11.1% per year for the next five years.Still, JAZZ stock made the majority of its gains in the first half of the decade. In recent years, it has suffered as Xyrem patents have expired. Also, lagging sales of blood-cancer drug Erwinaze hit JAZZ as it struggles with supply and manufacturing issues. It still trades well below the highs of 2015, when it almost reached $195 per share. * 9 Tantalizing Dividend Stocks for 2020 However, as new drugs replace Xyrem, and as the firm resolves manufacturing issues with Erwinaze, JAZZ stock should finally resume its growth. United Rentals (URI)Source: Casimiro PT / Shutterstock.com Split-adjusted closing price on Dec. 31, 2009: $9.81 per share Approximate price today: $157 per share Gain in 2010s: 1,520%United Rentals (NYSE:URI) rents heavy equipment to the construction industry. This business model has made URI one of the more successful growth stocks. United Rentals traded in penny-stock status at the height of the financial crisis. This drop helped it to become one of the bigger success stories of the 2010s.But even growth stocks are not immune to challenges. URI stock faced ratings cuts in the fall as some thought recession fears would reduce demand for construction equipment.These fears have made URI stock appear inexpensive. The equity now sells for about 7.8 times next year's earnings. At first, it may look cheap since Wall Street predicts an earnings increase of 18.3% for the year.However, recession fears still appear to influence estimates in future years. Profits are on track to rise by only 4.3% next year and an average of 2.2% per year for the next five years.The economy should determine its immediate future. If we enter a recession, URI will suffer for a time. However, if these fears prove to be overblown, United Rentals could continue its impressive growth well into the 2020s. Align Technology (ALGN)Source: rafapress / Shutterstock.com Split-adjusted closing price on Dec. 31, 2009: $17.82 per share Approximate price today: $275 per share Gain in 2010s: 1,449%Align Technology (NASDAQ:ALGN) produces digital scanners for the dental industry, as well as Invisalign, a product described as "invisible braces." Both patients and investors have taken to Align as its products serve as a replacement for traditional metal braces.ALGN stock rose steadily during the first half of the decade. However, it became one of the better growth stocks as the popularity of Clear Aligner reached a fever pitch.Still, as it approached $400 per share in the fall of 2018, soft earnings guidance led to a sharp selloff. It would go on to lose more than half of its value before recovering to the current level of around $275 per share.Furthermore, even with the drop, the price remains well ahead of fundamentals and growth. The forward P/E ratio now stands at close to 42.5. That seems high for a company with expected profit growth averaging of 18.9%.Moreover, this estimate could come down as competitors such as SmileDirectClub (NASDAQ:SDC), Candid and others begin to take market share. Although ALGN stock has served investors well over the previous decade, the party may end soon as competition forces reductions in both the price and market share of Invisalign.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Energy Stocks That Are Still Worth Buying In 2020 * 7 Strong Stocks to Buy That Won Q3 Earnings * 5 Safety Stocks to Buy Without Trade War Exposure The post 10 Best-Performing Growth Stocks of the 2010s appeared first on InvestorPlace.
Prosus N.V. said Monday that it has increased the cash offer for the entire issued and to-be issued capital of Just Eat PLC to 740 pence a share.
Alphabet’s Waymo unit is the clear leader in the race for autonomous driving leadership, according to a team of analysts at Wedbush.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Amazon.com Inc.’s bid to buy into one of the U.K.’s most successful startups may get caught up in antitrust authorities’ fear that they made mistakes in the past.The Competition and Markets Authority has until Wednesday to decide whether to continue a two-month-old probe that froze Amazon’s bid of around $500 million for a minority stake in food-delivery service Deliveroo.“The CMA is very interested in tech giants extending their tentacles into other markets,” said Alan Davis, a competition lawyer at Pinsent Masons in London. Antitrust regulators “are paranoid about it at the moment because they are concerned they have not looked at these mergers enough in the past, like Facebook-WhatsApp.”Authorities were put off over Facebook Inc.’s change of position on how it handled data from WhatsApp, prompting EU officials to accuse the company of misleading them to win approval for the takeover in 2014. Big Tech is a flash point now for antitrust across the globe. In the U.S., there are probes into Google, Facebook and Amazon over allegations they unfairly hinder competition. The CMA is investigating how Google plans to use Looker Data Sciences Inc. data before approving that $2.6 billion takeover.While the CMA’s mission is in part to ensure big deals won’t hamper competition, it doesn’t usually investigate bids for minority stakes. It may have been moved to act this time because of Amazon’s access to an unending reservoir of data from its many businesses. And CMA’s Chief Executive Officer Andrea Coscelli has said that it was a mistake to allow deals like Facebook’s purchase of Instagram.“U.K. regulators may have some antitrust concerns with the proposed investment,” said Bloomberg Intelligence analysts Aitor Ortiz and Diana Gomes. “One of them could be whether Amazon could get access to Deliveroo’s user data, leveraging the delivery giant’s position in other markets besides on-demand restaurant delivery, such as online groceries.”Amazon, Deliveroo and the CMA declined to comment on the matter.Cut-Throat CompetitionThe food-delivery business is no stranger to the regulator’s attention. Two years ago the agency began investigating Just Eat Plc’s merger with a smaller rival Hungryhouse, eventually allowing it to go through because of the competition in the sector.Since then the delivery business has seen a wave of acquisitions and international expansion. Just Eat agreed to a 5 billion-pound merger ($6.6 billion) with Dutch firm Takeaway.com NV in July, while Uber Technologies Inc. was reported to be showing interest in Spanish startup Glovo. However, according to food-service consultant Peter Backman, competition in the sector remains strong.“It’s getting more intense because the pressure to get scale is becoming more intense,” said Backman, a former director of Horizons FS. “Although the market has gotten bigger, they are under huge pressure to become profitable.”Deliveroo has never turned a profit, losing 232 million pounds last year despite a 72% increase in global sales. A ruling against Amazon would be a setback for the U.K. company, which has already raised $1.53 billion in investor funding.In August, it was forced to make an abrupt retreat from Germany after struggling to get a grip on the market.For Amazon, the stakes aren’t as high, but if the CMA decision goes the wrong way, it faces yet another embarrassing exit from a market it has found difficult to crack. It closed its own U.K. food delivery unit Amazon Restaurants U.K. in December 2018, with its American counterpart following suite last summer.To contact the reporter on this story: Eddie Spence in London at email@example.comTo contact the editors responsible for this story: Anthony Aarons at firstname.lastname@example.org, Christopher Elser, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.