Growth in Europe comment triggers Groupon stocks spike
Jason Child, the Chief Financial Officer of Groupon Inc(NASDAQ:GRPN), said on Tuesday that the company is undertaking several measures to grow in the European market. He was speaking at an investors’ conference. The company’s shares rose 8 per cent on this news.
Groupon uses a technology in the U.S. that helps to put together and send relevant deals to subscribers. The same is now being introduced in Europe.
According to Child, "It's one of the primary drivers we expect to see in the back half of this year." He also said, "That should be one of the solutions for helping us to drive growth in the future."
Share prices had fallen after the company had posted poor results due to weak performance in Europe, touching a new low of $4 on September 4. But yesterday, the stock rose 8 percent to $4.61.
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The stock has lost around 75 percent of its value from the time of its listing late last year.
According to Internet analyst Aaron Kessler of Raymond James and Associates, the organizers of yesterday’s conference, Child sounded optimistic. He feels that the planned deployment of technology will surely drive growth in Europe.
Also, business is generally lean for E commerce companies in the second quarter, and this might have been the reason for Groupon’s poor performance.
Barnes & Noble to launch a Windows 8 Nook?
As per Report, Barnes & Noble, Inc.(NYSE:BKS) will soon launch a Nook tablet that runs on Windows 8, Microsoft’s latest platform. If rumors are to be believed, the unveiling of the 7 inch tablet that runs on a non-Android based platform will happen sometime in September.
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Two tablets running on Android will be in the market soon. Amazon is going to launch its new Kindle Fire HD while Google is introducing its Nexus. In such a situation, it might be a smart move to introduce a tablet running on Windows 8.