Technology shares were generally higher in pre-market trade
In technology stocks news, Northland Capital has reiterated its
Outperform rating on Groupon Inc. (
), despite shares of the company tumbling 13.5% to $8.89 in
pre-market trade on lower-than-expected earnings guidance.
The firm also cut the price target on the stock to $14 from $15
Although GRPN forecast Q1 revenue above analyst expectations,
the company guided for an adjusted per-share loss of $0.04 to
$0.02, while analysts polled by Capital IQ had forecast earnings of
$0.06 per share.
And, shares in Geeknet, Inc. (
), the parent company of online retailer ThinkGeek.com, said Q4 net
income was $5.1 million or $0.76 per diluted share compared to net
income of $6.1 million or $0.92 per diluted share a year ago.
Adjusting for one-time items, Q4 2012 income would've been $0.71
a share, the company said. Analyst estimates on Capital IQ called
for earnings of $1.50 per share on a normalized basis and $1.23 per
on a GAAP basis.
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