Opening Bell Trading Targets: Groupon, Home Depot, Zynga
Groupon (NASDAQ:GRPN) earnings were hot yesterday after the bell. The daily deals site reported better-than-expected revenue in the first quarter and a strong forecast.
The stock hit all-time lows last week at $9.63, so there is the prospect for a ton of short covering over the next few days.
Home Depot (NYSE:HD) net income rose to $1 billion (68 cents per share) vs. $812 million (50 cents per share) in the same quarter a year earlier. This marks a rise of 23.2% from the year-earlier quarter. Revenue rose 5.8% to $17.8 billion from the year-earlier quarter.
The numbers weren’t big enough for Wall Street as the home improvement firm had been priced for perfection near 52-week highs of $52.88.
Zynga (NASDAQ:ZNGA) is popping all over the place this morning. This is another stock coiled up to all-time lows ($7.34). Now, the stock is springing off the Facebook IPO halo.
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