Sector Update: Technology

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Technology shares were generally higher in pre-market trade Friday.

In technology stocks news, Northland Capital has reiterated its Outperform rating on Groupon Inc. ( GRPN ), 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 a share.

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. ( GKNT ), 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.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: GRPN , GKNT

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