Group and ING Biggest Stock Percentage Decliners on Wall Street Feb 9th
Groupon Inc (NASDAQ:GRPN): Ascendiant Capital believes Groupon’s first mover advantage is slowing due to competition and consumer fatigue. The firm believes profitability is weak, costs are high, and valuation is rich. Shares are Sell rated with a $14 price target. The shares closed at $21.17, down $3.41, or 13.87%. They have traded in a 52-week range of $14.85 to $31.14.
ING Groep N.V. (NYSE:ING): ING Groep will split the sale of its Asian insurance business by auctioning its investment management business separately, Reuters reports. ING said, “Given the uncertain financial environment, increasing regulatory requirements and ING’s priority to repay the Dutch State, the Executive Board will not propose to pay a dividend over 2011 at the annual General Meeting in May 2012.” The shares closed at $9.18, down $0.55, or 5.65%. They have traded in a 52-week range of $5.80 to $13.41.
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