- As part of a broader Internet sector launch, Morgan Stanley has launched coverage on YELP and GrubHub (NYSE:GRUB) with Overweight ratings, and on Expedia (NASDAQ:EXPE) and InterActiveCorp (IACI) with Underweight ratings, after the close. YELP +2% AH. GRUB +2.5%. EXPE -1.4%. IACI -1%.
- Yelp was upgraded by Brean two weeks ago, shortly after the company hiked its Q1/2015 guidance and announced it's buying online food-ordering service Eat24.
- GrubHub rallied three weeks ago following a Q4 beat, and received bullish coverage from Barclays last week.
- Expedia tumbled three weeks ago thanks to a Q4 miss and light 2015 guidance, but reversed course after announcing it's buying Orbitz and thereby bolstering its U.S. online travel leadership position.
- IAC sold off earlier this month following its Q4 beat, but has since more than recovered its losses.