New bills passed in New York City could curb some appeal of companies like Grubhub, DoorDash and Uber Eats.The New York City Council has long had a bone to pick with food delivery platform Grubhub.During the pandemic, that animus seems to extend to reach the sector more broadly as market share has leveled. Home to about 10% of the U.S. market, and a possible harbinger of local measures elsewhere, the city’s attitude matters a great deal.The conflict heated up last week. On Thursday, the council
Wall Street analysts react to Amazon’s disappointing second-quarter earnings
Amazon reported another massive quarter on Thursday, but it wasn’t enough to meet sky-high expectations, leading Wall Street analysts to scale back their estimates.The tech giant reported $15.12 in earnings per share and $113.08 billion in revenue for its second quarter. That topped expectations of $12.30 in earnings but missed the projected $115.2 billion in revenue, according to analysts surveyed by Refinitiv.Following the report, Morgan Stanley’s Brian Nowak cut his price target for the stock