Ultimate Market Recap: Groupon Crashes Below IPO Price, Deere and TiVo Earnings

Wednesday Morning’s Top Stories

As Greece faces dire times, the Bank of Greece said today that the country is in “the most critical period” in its post-war history and it may be driven out of the euro zone. It added that Greece needs to focus all of its energies on meeting its October agreement targets and if it doesn’t, the nation could see “an uncontrolled downward trajectory that would undermine many of the achievements that have been attained in recent decades, drive the country out of the euro area and set Greece’s economy, standard of living, society and international standing back many decades.”

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HSBC’s (NYSE:HBC) preliminary China manufacturing survey dropped to a 32-month low in November, signaling a contraction. The Purchasing Managers Index hit 48 on a 100-point scale, declining from October’s expansionary 51. Forecasts had estimated a 50.1 result, just high enough from the 50 level to make it an expansion versus a contraction, according to CNBC.

According to a HSBC economist, the November data suggested industrial production would moderate to see annualized growth rates of 11 percent to 12 percent in the future months while domestic and external demands temper; however, the data did little to suggest a contraction in China.

Investing Insights: Are Precious Metals Holding These Key Support Areas?

On Tuesday, the Federal Communications Commission’s chairman, Julius Genachowski, moved toward blocking the proposed $39 billion AT&T (NYSE:T) and T-Mobile USA merger. He referred the matter to an administrative law judge for a hearing that would require AT&T to show the proposed deal was “in the public interest.”

This came after the FCC determined it would hurt consumers, cut jobs and make an “overly concentrated” wireless phone industry. Sprint (NYSE:S) and Verizon (NYSE:VZ) are happy with the new challenge.

In the third quarter, China became the world’s largest smartphone market by volume, according to a report by Strategy Analytics. This surpasses the U.S. and in the report, it disclosed that China’s smartphone shipments increased 58 percent last quarter to 24 million units vs. the U.S.’s 23 millions units, representing a 7 percent decline.

Pandora Media Inc (NYSE:P) net income for the company was $638,000 (0 cents per share). The company reported a loss of $1.77 million (15 cents per share) in the year-ago quarter. Revenue rose 99% to $75 million.

Investing Insights: Pandora Media Inc Earnings Cheat Sheet: Swings to a Profit.

Wednesday’s Early Hot Stocks

Deere & Company (NYSE:DE): Net income for the farm and construction machinery company rose to $669.6 million ($1.62 per share) vs. $457.3 million ($1.07 per share) in the same quarter a year earlier. This marks a rise of 46.4% from the year earlier quarter. Revenue rose 20.4% to $7.9 billion from the year earlier quarter. DE shares recently traded at $75.39, up $3.47, or 4.82%. Its market capitalization is $31.21 billion. They have traded in a 52-week range of $59.92 to $99.80. Volume today was 708,699 shares versus a 3-month average volume of 5,170,570 shares. The company’s trailing P/E is 12.41, while trailing earnings are $6.08 per share.

Investing Insights: Deere & Co. Earnings Cheat Sheet: Double-Digit Revenue Growth Continues.

Nokia Corporation (NYSE:NOK): British carriers Vodafone (NASDAQ:VOD) and Orange (NYSE:FTE) are seeing healthy Lumia 800 sales. NOK shares recently traded at $5.60, up $0.04, or 0.72%. Its market capitalization is $20.78 billion. They have traded in a 52-week range of $4.82 to $11.75. Volume today was 3,020,968 shares versus a 3-month average volume of 28,175,300 shares. The company’s trailing P/E is 23.05, while trailing earnings are $0.24 per share.

Groupon, Inc. (NASDAQ:GRPN): Groupon opens at $18.60, well below the $20 IPO less than 3 weeks ago. GRPN shares recently traded at $19.77, down $0.3, or 1.49%. Its market capitalization is $12.61 billion. They have traded in a 52-week range of $19.76 to $31.14. Volume today was 140,218 shares versus a 3-month average volume of 6,714,430 shares. The company’s trailing earnings are $-2.17 per share.

Investing Insights: Dow Jones 30 Index Stocks: Quarterly Earnings Recap.

Google Inc. (NASDAQ:GOOG): Larry Page announced the termination of 6 more products: Google Gears, Knol, and renewable energy sources. GOOG shares recently traded at $575.76, down $4.24, or 0.73%. Its market capitalization is $186.48 billion. They have traded in a 52-week range of $473.02 to $642.96. Volume today was 85,093 shares versus a 3-month average volume of 3,185,360 shares. The company’s trailing P/E is 19.63, while trailing earnings are $29.34 per share.

Boston Scientific Corporation (NYSE:BSX): Boston Scientific’s key “Promus Element” heart stent has gained FDA approval. The product will replace the Promus stent BSX now co-markets with Abbott Labs (NYSE:ABT). BSX shares recently traded at $5.59, up $0.28, or 5.27%. Its market capitalization is $8.28 billion. They have traded in a 52-week range of $5.26 to $7.96. Volume today was 836,187 shares versus a 3-month average volume of 20,077,900 shares. The company’s trailing P/E is 14.75, while trailing earnings are $0.38 per share.

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Wednesday’s Trending Stocks

The Dow Jones Industrial Average is trading at 11,334 and the S&P 500 Index is trading at 1,169. Here are the most popular and buzzing stocks on Wall Street today:

  1. Deere & Company (NYSE:DE): Shares of Deere & Company are trading higher 3.43% today. Deere & Company manufactures and distributes a range of agricultural, construction and forestry, and commercial and consumer equipment. The Company supplies replacement parts for its own products and for those of other manufacturers. Deere also provides product and parts financing services.
  2. TiVo Inc. (NASDAQ:TIVO): Shares of TiVo Inc. are trading higher 4.7% today. TiVo Inc. provides a subscription-based service enabled by a personal video recorder. The Company’s service allows viewers to locate and record multiple shows, control live television, choose viewing preferences, and access their customized lineup of shows. TiVo’s service also serves as a platform to deliver television programming, advertising, and in-home commerce.
  3. Pandora Media Inc (NYSE:P): Shares of Pandora Media Inc are trading lower 9% today. Pandora is an internet radio station generating playlists based on a user’s favorite artist or song. Pandora’s service, free to its more than 80 million registered users and available only in the US, is supported by local and national advertising. Pandora chief strategy officer Tim Westergren founded the company in 2000.
  4. Ship Finance International Limited (NYSE:SFL): Shares of Ship Finance International Limited are trading lower 3% today. Ship Finance International Ltd. owns, and charters out, ships. The Company’s fleet includes crude oil tankers, oil/bulk/ore vessels, dry bulk carriers, and jack up oil rigs.
  5. Frontline Ltd. (NYSE:FRO): Shares of Frontline Ltd. are trading lower 12% today. Frontline Limited owns a fleet of very large crude carriers and Suezmax tankers that transport crude oil and oil products between ports. The Company’s vessels are managed by ship management companies. Frontline conducts activities worldwide.
  6. Boston Scientific Corporation (NYSE:BSX): Shares of Boston Scientific Corporation are trading higher 2% today. Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. The Company’s products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology and neuromodulation.
  7. Diana Shipping Inc. (NYSE:DSX): Shares of Diana Shipping Inc. are trading lower 2% today. Diana Shipping Inc. owns and operates a fleet of dry bulk carriers. The company transports iron ore, grain and other dry cargoes along worldwide shipping routes.
  8. Medtronic, Inc. (NYSE:MDT): Shares of Medtronic, Inc. are trading lower 1% today. Medtronic, Inc. develops therapeutic and diagnostic medical products. The Company’s principal products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, heart failure management, heart valve replacement, malignant and non-malignant pain, and movement disorders. Medtronic’s products are sold worldwide.
  9. Campbell Soup Company (NYSE:CPB): Shares of Campbell Soup Company are trading flat today. Campbell Soup Company, with its subsidiaries, manufactures and markets branded convenience food products. The Company’s core divisions include soups and sauces, biscuits and confectionery, and foodservice. Campbell’s distributes its products worldwide.
  10. Piedmont Natural Gas Company Inc. (NYSE:PNY): Shares of Piedmont Natural Gas Company Inc. are trading lower 1% today. Piedmont Natural Gas Company, Inc. is an energy and services company that primarily transports, distributes, and sells natural gas. The Company serves residential, commercial, and industrial customers in North Carolina, South Carolina, and Tennessee. Piedmont also, through subsidiaries, markets natural gas to customers in Georgia, and distributes propane in various states.