U.S. stocks slipped into red after opening slightly higher weigh by continuous struggling in formation of new of a coalition Greek government. Earlier stock opened higher following U.S. economic reports had retail sales up 0.1% in April, while consumer prices held flat. Also, The National Association of Home Builders/Wells Fargo housing market index rose to 29 from 24 in April. The April index was initially reported to be 25. Economists polled by MarketWatch had expected a reading of 27. The component gauging current sales conditions rose 5 points to 30 and the component gauging traffic of prospective buyers rose 5 points to 23, which was the highest level since April 2007.
The Dow Jones Industrial Average fell 17.52 (-0.14%) to 12,677.83, and the Standard & Poor's 500-stock index fell lost 2.39 (-0.18%) at 1,335.96. The Nasdaq Composite added 4.64 (0.16%)at 2,907.22.
Groupon Inc(NASDAQ:GRPN) soared 19% as the largest daily coupon website reported a smaller net loss and higher revenue in the first quarter, boosted by increased demand from a growing customer base.
The company posted net loss of $11.7 million, or 2 cents per share, in the January-March period, narrow than a year ago loss of $146.5 million, or 48 cents per share. On an adjusted basis, the company would have earned 2 cents per share The component gauging current sales conditions rose 5 points to 30 and the component gauging traffic of prospective buyers rose 5 points to 23, which was the highest level since April 2007. Revenue during the quarter came at $559.3 million, Up 89% from a year ago revenue of $295.5 million, well ahead of analysts’ forecast of $530.5 million. Groupon itself had forecast revenue of $510 million to $550 million.
Photronics, Inc.(NASDAQ:PLAB) added 3% after the company reported second-quarter net income of $8.8 million or $0.14 per share, as compared to a net loss of $16.4 million or $0.30 per share in the same period last year. Non-GAAP net income for the quarter was $8.9 million or $0.14 per share. Net sales declined to $117.5 million from $133.1 million in the year-ago quarter. Analysts polled by Thomson Reuters expected earnings of $0.12 per share on revenues of $116.82 million.
OPNET Technologies, Inc.(NASDAQ:OPNT) soared 24% after the company reported fourth-quarter net income of $4.0 million or $0.18 per share, as compared to $3.8 million or $0.17 per share in the year-ago period. Adjusted earnings for the quarter rose to $4.9 million or $0.21 per share. Revenues for the quarter grew 8.4% to $44.56 million. Analysts expected the company to earn $0.21 per share on revenues of $44.79 million for the quarter. Looking forward, the company expects first quarter of 2013 GAAP revenue to be between $42.5 million and $45.0 million, GAAP diluted earnings per share to be between $0.13 and $0.19, and non-GAAP diluted earnings per share to be between $0.16 and $0.23. Analysts are expecting the company to report revenue of $43.74 million and EPS of $0.21 for the first quarter of 2013.
Baidu.com, Inc. (ADR)(NASDAQ:BIDU) was trading higher by 0.70% as the company said that it will launch a cheap smartphone with Foxconn Technology Group, Sichuan Changhong Electric Co and China Unicom, marking the company’s footprint in the growing smartphone market.
The Changhong-branded smartphone to be made by Foxconn will use Baidu’s mobile Cloud operating system and will retail for less than 1,000 yuan ($160), Baidu said in a statement.
No comments:
Post a Comment