Early BUZZERS: Groupon CRASHES 21%, Apple Near All-Time High
Shares of Groupon (NASDAQ:GRPN) are plunging 21 percent in early morning hours. The company reported second quarter earnings of $28.4 million, compared to a net loss of $107.4 million a year earlier. However, revenue was lower-than-expected at $568.3 million. “We had a solid quarter despite challenges in Europe and continued investment in technology and infrastructure,” said Andrew Mason, chief executive officer. “We’ve deepened our relationships with a growing base of merchants and customers worldwide, demonstrating progress as we work to unlock the opportunity in local commerce.”
Apple (NASDAQ:AAPL) shares continued upward 0.49 percent to attract attention in early morning trading after closing more than 1 percent higher on Monday. Pre-sales for the next-generation iPhone will start on September 12, the day Apple is widely rumored to announce the new device, according to a report. The phone will reach customers starting September 21, the report adds, while for international markets will see the new smartphone likely on October 5. According to the website iMore, which reported the dates, the information came from two previously accurate sources. Shares closed at $630 on Monday, about 2 percent below its all-time high of $644.
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Monster Beverage (NASDAQ:MNST) shares jumped 1.75 percent early Tuesday. The company announced that its board approved increasing its share buyback program by an additional $250 million. The increase brings the total play to $500 million.
Despite receiving some small votes of confidence from Netflix (NASDAQ:NFLX), shares of Facebook (NASDAQ:FB) declined 1.30 percent in early morning hours. The WSJ recently reported that Reed Hastings, chief executive of Netflix, purchased roughly $1 million in Facebook stock. “In a filing with the U.S. Securities and Exchange Commission, Mr. Hastings disclosed buying 47,846 Facebook Class A shares on Wednesday at a weighted average price of $21.03 each.”
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