Angie’s List Inc. (NASDAQ:ANGI): The sell off on Groupon spread to other public firms in the social-media space. Angie’s List (US:ANGI) lost 16% and closed at $11.17. More than 25 million shares of the local business review service emerged from lock-up expirations. Shares of Angie’s List Inc. are trading at 0.72% higher today.
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Staples, Inc. (NASDAQ:SPLS): The company said, “Our second quarter results fell short of our expectations due to softer than expected sales trends in North America and ongoing weakness in Europe and Australia. We continue to build momentum in categories beyond office supplies, but these improvements were more than offset by weaknesses in computers and core office supplies during the second quarter.” Shares of Staples, Inc. are trading at 17.48% lower today.
JDS Uniphase Corporation (NASDAQ:JDSU): JDS Uniphase Corporation (NASDAQ:JDSU) had a fiscal fourth quarter loss. This was partly due to the resignation of their chief financial officer and declining revenue from their core business segments. However, adjusted profits beat analyst estimates as revenue topped the company’s expectations. Shares rose 5.1% to $11.21 pre-market. Shares of JDS are trading at 8.90% higher today.
National-Oilwell Varco, Inc. (NYSE:NOV): As billionaire Chairman Warren Buffett pared investments in consumer products stocks that include Procter & Gamble Co., Berkshire Hathaway Inc., in the second quarter, added a stake in National-Oilwell Varco Inc. According to his Omaha, Nebraska based company, Buffett’s firm, as of June 30, held 2.84 million shares of the oilfield equipment maker. Berkshire’s P&G holding declined 19 percent to 59.6 million shares in the period. National-Oilwell stocks are trading at 1.36% higher today.
Groupon Inc (NASDAQ:GRPN): Groupon Inc. slid to a record low on Tuesday. This led to a sharp sell-off in the social media space and weighed down the rest of the tech sector. As investors reacted to Groupon’s disappointing financial results, the company (US:GRPN) plunged 27% and closed at $5.51 At least two brokerages downgraded Groupon to hold, including Citigroup’s Mark Mahaney, who warned that, “the core daily deal business is sharply slowing.” Shares of Groupon Inc are trading at 0.82% lower today.
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