Uber shares get a boost on news of a deal with Postmates. Spotify falls on an analyst downgrade.
— Harley-Davidson shares gained 5.2% after a Citigroup analyst initiated coverage of the motorcycle builder with a buy rating, citing optimism around the company's recent leadership changes. "The new CEO, Jochen Zeitz's track record and marketing acumen as CEO of PUMA sporting goods augurs well," the analyst said.— An analyst at Baird hiked his price target on the video-conferencing giant to $300 per share from $230 per share. The new price target implies a 14.
— Shares of the biopharmaceutical company jumped more than 8% on the back of positive phase 3 trial results for Trodelvy, a drug aimed at treating patients with metastatic triple-negative breast cancer. The study, Immunomedics said, confirms the drug "has the potential to change the standard management of mTNBC."— Globus Medical shares fell 6.3% after Piper Sandler downgraded them to neutral from overweight.
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Uber Agrees To Buy Postmates For $2.65 Billion - ReportsI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you.
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Uber to buy Postmates for $2.65 billion: reportsUber Technologies Inc. has agreed to purchase food-delivery service Postmates for around $2.65 billion, according to media reports Sunday night. Bloomberg News and the New York Times both reported the deal, which is expected to be formally announced as soon as Monday. Postmates would be absorbed into the Uber Eats service, with Uber Eats chief Pierre-Dimitri Gore-Coty running the combined company, the reports said. Reports of a pending deal first surfaced last week, after Uber failed in a bid earlier this year to acquire rival food-delivery company GrubHub.
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