Tech Business Update: Google Outperforms Its Sector, Groupon Buys Savored
Google Inc. (NASDAQ:GOOG) shares hit new highs Monday in the face of an overall tech selloff, which includes big names Apple Inc. (NASDAQ:AAPL) and Facebook (NASDAQ:FB). Fortunately for Google, Mark Mahaney at Citi has said that his third quarter search ad checks were mainly positive and has forecast that the company should benefit from improving ad click prices. Meanwhile, Apple, which was affected by the flare-up over iOS 6 Maps, is said to be aggressively recruiting ex-Google Maps employees who assisted in the growth of the product’s huge data libraries. Not unexpectedly, Zynga (NASDAQ:ZNGA) shares are falling in sympathy with Facebook, and are again floating around the $3 level.
Groupon, Inc. (NASDAQ:GRPN), acquires Savored, which produces an online restaurant reservation platform, and concentrates on offering promotions to diners, both through its site and also mobile applications. The deal fits in with Groupon’s daily deals unit and also its Groupon Now! real-time deals product. However, Groupon shares are declining Monday, along with most stocks in its sector.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>