TECH STOCKS: Groupon Is Big Tech Gainer Ahead Of Earnings

By Dow Jones Business News, 
A A A


By Rex Crum, MarketWatch

Online deal company shares surge a day ahead of results

SAN FRANCISCO (MarketWatch) -- Tech stocks began the week with broad gains Monday, with Groupon Inc. flexing its muscles a day ahead of the online daily deal company's second-quarter earnings results.

Groupon (GRPN) rose early, never looked back, and ended the day with a gain of almost 9% at $7.02 a share, its highest close in three months. Analysts who follow Groupon expect the company to meet expectations for the quarter, but remain wary about what it might say in its business outlook.

Groupon is trying to transition its business to more of a traditional e-commerce model in which it attracts customers looking for specific products as opposed to pushing out a variety of offers via email notices. The company's share price has fallen 40% this year.

Among bellwether tech stocks, gains came from Hewlett-Packard Co. (HPQ), Facebook Inc. ( FB ), Amazon.com Inc. ( AMZN ) and Microsoft Corp. (MSFT).

Google Inc. ( GOOG ), which will soon mark its 10th anniversary since it went public in August 2004, closed with a gain of $1.51 a share at $582.27.

The Nasdaq Composite Index (RIXF), which contains many leading tech stocks, rose 31 points to end the day at 4,383, and the Philadelphia Semiconductor Index (SOX) finished the day up by 0.4%.

More must-read news from MarketWatch

What to look for in Groupon's earnings results

10 things you may not know about Google

"Seinfeld" about more than "nothing" for Netflix

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  08-04-141619ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: Commodities

Referenced Stocks: AAPL , AMZN , FB , GOOG , GOOGL

Dow Jones Business News


More from Dow Jones Business News:

Related Videos

Stocks

Referenced

Most Active by Volume

83,946,369
  • $16.40 ▼ 1.20%
65,919,147
  • $102.99 ▲ 0.51%
63,004,409
  • $42 ▲ 4.53%
42,618,740
  • $7.93 ▼ 2.94%
41,388,613
  • $78.37 ▼ 0.41%
40,438,996
  • $3.81 ▲ 14.76%
39,835,674
  • $12.32 ▲ 2.41%
38,147,728
  • $12.83 ▼ 2.80%
As of 10/22/2014, 04:15 PM