GrubHub’s terrible earnings and more than 40% stock plunge last week is not indicative of the potential of the broader food delivery business, Postmates co-founder and CEO Bastian Lehmann told CNBC on Thursday. “The right way to think about the space is not a winner take all market,” Lehmann said. Taking a veiled swiped at GrubHub, Lehmann said, for example, that millennials who like Postmates may be turned off by delivery companies that cater to people over 50 years old. Postmates’ Lehmann spok

Get out your pencils and calculators: The IRS has released a breakdown of what’s ahead for the 2020 tax year. Those sweeping changes include a higher standard deduction — it’s now $12,400 for singles and $24,800 for married joint filers in 2020. For the 2020 tax year, the IRS tweaked the individual income tax brackets, adjusting them for inflation. The additional standard deduction for older taxpayers and those who are blind are still available. Single filers who are blind or over 65 are eligibl

A new book on Ruth Bader Ginsburg explores the Supreme Court justice’s thoughts on the #MeToo movement and her hope that non-disclosure agreements, which have come under fire in sexual misconduct cases, “will not be enforced by the courts.” In “Conversations with RBG: Ruth Bader Ginsburg on Life, Love, Liberty, and Law,” the 86-year-old feminist icon questions whether the #MeToo movement will render the secrecy clause obsolete in such cases. Some lawyers who represent women today in sexual misco

Coca-Cola on Thursday unveiled a new sparkling water line, its first new brand in more than a decade. Flavored sparkling water or seltzer has become a popular alternative for consumers. In 2018, bottled sparkling water volume grew by 26% to 531 million gallons, according to data from Beverage Marketing. While the drink is just a small fraction of the overall bottled water market, sparkling water is growing at a much faster clip than still water, which saw its volume increase only 4.2% last year.

After a strong summer in the housing market, something is turning potential buyers on their heels. Just 21% of Americans say now is a good time to buy a home, a drop from 28% in September, according to a monthly sentiment survey by Fannie Mae. Now mortgage rates are rising again, adding to the problem. “Unfortunately, income and wages are not rising as fast and will make it difficult to buy once rates rise.” “I think what’s going to hold them back from over-heating is that prices have risen so f

Passenger vehicles will account for about 7% of global carbon emissions in 2020, and as carbon costs increase this could seriously impact automakers’ bottom line, according to Morgan Stanley. “In a world where the price of carbon emissions rises, the impact of such numbers on financial results and investment performance may be significant,” Morgan Stanley auto analyst Adam Jonas said in a note to clients Wednesday.

Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018. The social media company’s impressive business turnaround in the past few years has masked its lack of investment. The firm downgraded the stock to underperform from in-line and slashed its price target to $25 per share from $42 per share. The call follows a negative reversal in Twitter’s stock in the last month. The shares are down 27% in

In this photo illustration the Twitter logo is displayed on the screen of an iPhone in front of a computer screen displaying Twitter logos. We think current valuation represents a compelling risk/reward with the IAC spin-off (expected in 1H’20) acting as a potential catalyst – we upgrade our rating to Buy and see 30%+ upside to our new $88 PT.” UBS upgraded the operator of online dating sites and said it thinks the valuation represents a “compelling” risk/reward. Evercore downgraded the stock an

Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018. The social media company’s impressive business turnaround in the past few years has masked its lack of investment. The firm downgraded the stock to underperform from in-line and slashed its price target to $25 per share from $42 per share. The call follows a negative reversal in Twitter’s stock in the last month. The shares are down 27% in

In this photo illustration the Twitter logo is displayed on the screen of an iPhone in front of a computer screen displaying Twitter logos. We think current valuation represents a compelling risk/reward with the IAC spin-off (expected in 1H’20) acting as a potential catalyst – we upgrade our rating to Buy and see 30%+ upside to our new $88 PT.” UBS upgraded the operator of online dating sites and said it thinks the valuation represents a “compelling” risk/reward. Evercore downgraded the stock an

Shares of Roku plunged on Thursday, after the streaming devices company posted third-quarter results that missed Wall Street’s expectation following multiple quarters of blowout growth. Roku reported a third-quarter loss of 22 cents a share, worse than the 18 cents a share loss analysts surveyed by FactSet expected. Roku had beaten analysts’ expectations for quarterly earnings in seven of its last eight reports. RBC Capital similarly pointed out Roku’s advantage as a distributor, as it get reven

Xerox has offered HP $22 per share in its takeover bid for the company, sources familiar with the deal tell CNBC’s David Faber. Sources also said the bid consists of 77% cash and 23% stock, or $17 in cash and .137 Xerox shares for each HP share. Concerns about tie-up largely stem from the wide size disparity between Xerox and HP. HP, worth $29 billion, is more than three times the size of Xerox in terms of market cap. HP on Wednesday confirmed it has held talks with Xerox, which makes printers a

Insider selling is likely to keep Uber shares under pressure for the rest of November following the expiration of the stock’s lockup period, according to Bank of America Merrill Lynch analysis. “The consensus view seems to be for selling pressure post lockup that lasts a few months,” Post said in a note to clients. “In our recent lockup performance note, we created an equal-weighted basket of BofAML Internet IPOs to analyze price performance during the lockup period,” Post wrote. Bank of America

Dish Network (DISH) – Dish reported quarterly earnings of 66 cents per share, 5 cents a share above estimates. Qualcomm (QCOM) – Qualcomm reported quarterly profit of 78 cents per share, 7 cents a share above estimates. Roku (ROKU) – Roku lost 22 cents per share for the third quarter, 6 cents a share smaller than anticipated. Expedia (EXPE) – Expedia fell 42 cents a share shy of consensus estimates, with quarterly profit of $3.38 per share. Square (SQ) – Square came in 5 cents a share above esti

The firm’s head of equity strategy is worried market sentiment is becoming too optimistic as stocks trade near all-time highs. “We kinda hate this market,” Harvey told CNBC’s “Trading Nation” on Wednesday. The market has moved very close to our price target, and many of the catalysts that we talked about have played out.” “I would say mid single digits for your capital market returns. “As we look forward, there’s not much left for us to substantially say the market is going to move higher.”

Karen Finerman was a buyer of Disney. Tim is short IWM, RACE, SPY, TSLA. Karen Finerman is long FB spread calls. Karen Finerman is long GOOG put spreads. Karen Finerman is long SPY puts.

James Dolan, executive chairman and CEO of MSG, has been planning to spinoff the struggling New York teams from the other MSG assets, which include the Madison Square Garden Arena and the Radio City Music Hall. MSG, which has a market value of about $6.6 billion, would get a large boost from the sale of the highly-valued assets. Through Wednesday, shares of Madison Square Garden are up only 3% since January. The activist investor group has been looking into ways that MSG can boost share performa

People walk out of the co-working space WeWork in the Williamsburg neighborhood of Brooklyn in New York. Spencer Platt | Getty ImagesOn the last day of the third quarter, WeWork withdrew its IPO filing and kicked off a desperate race to find fresh capital to keep the business afloat. That includes more than 350,000 square feet at 437 Madison Ave., where it took 12 floors of the 40-story tower. Worth, where it signed a lease covering two floors and 53,000 square feet at a building in the neighbor

SoftBank CEO Masayoshi Son says he has devised a “simple formula” to turn around troubled co-working start-up WeWork. According to Son, WeWork must stop building offices for roughly three to four years, since construction requires significant upfront investments. Those changes, combined with increasing gross profits and reducing operating expenses, are the “simple turnaround that we will be aiming for,” Son said. But boy are the charts bizarre, containing almost no real data and a bunch of line

Xerox offers $22 a share in takeover bid for HP, sources tell CNBCCNBC’s David Faber breaks down his latest reporting on Xerox’s offer to buy HP. Sources tell Faber that Xerox’s offer to takeover HP came in at $22 a share, and that the bid consisted of 77% cash, and 23% stock.