Groupon Investors LOSING FAITH and 4 Hot Stocks Attracting Attention
Groupon Inc (NASDAQ:GRPN): A few early backers of Groupon, including Silicon Valley veteran Marc Andreessen, are leaving, and joining investors who have lost faith in companies that were expected to drive a new Internet boom, according to the Wall Street Journal. Shares of Groupon Inc are trading 0.21% lower today.
Don’t Miss: Why is This Judge Getting in Facebook’s Way?
Ann Inc (NYSE:ANN): Abnormal trading volume of Ann Inc. was discovered on August 17 reaching 9.34 million shares, 13 times heavier than usual day trading. The company saw a boost of 20.43 percent, moving up $5.75 to $33.89 per share. This is following the company’s release of its Q2 fiscal 2012 financial results and the raising of its guidance for the full year 2012 fiscal year. For Q2 of fiscal 2012, operating income increased 27 percent to $52.9 million, from $41.7 million in Q2 of fiscal 2011. Net income totaled $30.7 million during Q2 of 2012, versus the $24.8 million in the last year’s quarter, an increase of 24 percent. Ann reported diluted earnings per share of $0.63 for the latest quarter, which is a 34 percent increase year-over-year. The company has a market capitalization of $1.65 billion. Shares of Ann Inc are trading 0.91% higher today.
Pulte Group (NYSE:PHM): Army Sgt. Davin Dumar sacrificed a lot of this country and individuals including Kid Rock found a way to thank him. On Saturday, in Macomb Township, Kid Rock along with Dan Wallrath, who is the founder of Operation Finally Home, and representatives of the Pulte Group to present Dumar and his wife Dana, with a free new home.
Zagg Inc (NASDAQ:ZAGG) shares dropped 18 percent on Monday, after the company’s CEO and co-founder, Robert Pedersen, resigned three days after he sold shares to meet margin calls. Shares of Zagg Inc are trading 11.88% lower today.
Best Buy (NYSE:BBY): Richard Schulze, the founder and largest shareholder of Best Buy Co. stated on Monday that he is both “disappointed and surprised” that his offer to purchase the electronics retailer was rejected by the company. Best Buy Co., which earlier today chose a new chief executive for the company as it continues its struggles with falling sales, has been locked in a public back-and-forth with Mr. Schulze, who proposed that he would take the retailer private earlier this month.
Don’t Miss: How Much Further Does Facebook Have to FALL?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.