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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Netflix Inc | NASDAQ:NFLX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
14.83 | 2.62% | 579.98 | 545.00 | 595.95 | 580.26 | 565.16 | 566.00 | 3,307,530 | 05:00:06 |
By Rex Crum, MarketWatch
Daily deal site slips ahead of earnings report
SAN FRANCISCO (MarketWatch) -- Tech stocks pared early losses Tuesday, but Groupon continued to slide following a surge in price of nearly 9% Monday.
Groupon (GRPN) slipped by 1.6%, to $6.92 a share. Analysts are expecting Groupon to report a profit of a penny a share on $762 million in sales when it gives its second-quarter results after the close of trading.
One of the tech sector's biggest decliners is online coupon marketplace RetailMeNot Inc. (SALE), which plunged more than 24% to $19.11 a share Tuesday. RetailMeNot reported disappointing second-quarter earnings late Monday, including a drop in earnings and a big increase in expenses during the period. Analysts say the company has been hurt by changes in Google Inc.'s (GOOGL) search algorithm, which has affected RetailMeNot's traffic from paid search results.
RBC Capital Markets analyst Mark Mahaney cut his rating on RetailMeNot to sector perform, or the equivalent of neutral, from outperform, citing "the major change was the impact of the Google [algorithm] change" on RetailMeNot's results.
Gains among leading tech stocks came from Oracle Corp. (ORCL), Twitter Inc. (TWTR), Netflix Inc. (NFLX) and Amazon.com Inc. (AMZN).
The Nasdaq Composite Index (RIXF) trimmed its losses, but was still down by 7 points at 4,376.
More must-read news from MarketWatch
What to look for in Groupon's earnings
Hedge fund manager Doug Kass jabs at social-media stocks
China's Xiamoni tops Apple, Samsung in Chinese smartphone sales
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