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GrubHub Inc. (GRUB) Has Surged To A New High On Q4 Results And Yum! Deal

GrubHub Inc. (GRUB) reported fourth quarter non-GAAP EPS of $0.37 Thursday morning, up from $0.23 a year ago. The consensus estimate was for EPS of $0.31.

The company also announced that it has entered into a new partnership with Yum! Brands (YUM). As part of the deal, Yum! has agreed to purchase $200 million of GrubHub's common stock.

GrubHub gapped open sharply higher Thursday morning and is now up 20.27 at $90.18 on above average volume. The stock has broken out of nearly a 2-month trading range and has set a new high for the year.

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