By Dow Jones Business News,
August 04, 2014, 04:19:00 PM EDT
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%.
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