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U.S. Morning Call: Groupon gets a raw deal

Friday, 09 Nov, 2012 - 03:02

Nov 9 - Groupon once again failed to wow Wall Street with its quarterly results. Groupon also confirmed that its European business is still struggling and that it will be slashing 80 jobs mainly in sales

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What's the deal with Groupon today and President Obama gears up for his first statement since winning the election. Did -- TG IF morning call. Group on shares down over 50% in premarket after falling 17% of the close hitting a record low of three dollars and 25 cents. All because the daily deals website yet again failed to wow Wall Street with its quarterly results Groupon also confirmed its European business is still struggling. And that will be slashing eighty jobs mainly in sales some analysts say the daily deals fever has cooled among consumers and merchants. Any investors to question group -- long term viability. -- difficulties SEC has been inquiry into accounting and disclosures as well. And not to market this morning US stock futures putting to another lackluster day for Wall Street markets have closed in negative territory for two consecutive days. President Obama will talk about the economy today when he takes the podium for the first time since winning reelection. His reassure markets that Washington will find a timely solution to avoid the fiscal cliff. Later today what happens how US consumers are feeling about the economy with the release of Thomson Reuters University of Michigan index. That's expected to show a reading of 83 compared with two point six in the final October report. Over in China economic recovery gaining pace with output from the country's factories rising its fastest pace in five months. And now for some stocks to watch up person Netflix activist investor Carl Icahn said on Thursday. He is considered hostile takeover bid for the web streaming service. They think he's had a chance acquiring it icon recently bought at 10% stake in the company. Next up Energizer Holdings it said it would cut more than 10% of its workforce or about 15100 people as it tries to recharge it's battery business. Also keeping an eye on Nvidia this morning about two brokerages cutting their price target on the stock. After the chipmaker forecast revenue below expectations. Citing in part -- trouble PC market. -- shares rose after the bell on the announcement of quarterly dividend. Priceline negotiating a deal with kayak in the name your own price auctioneers that it will -- kayak and a friendly deal valued at one point eight billion dollars. Pipeline is offering forty bucks a share for kayak a 29% premium to the company's closing price of 3104 yesterday. Kayak shares jumped after the market close up over 27%. To more than 39 dollars in premarket trade. Priceline which topped third quarter profit estimates last week fell about one point 7%. To 617. Box on the announcement about an eleven dollar drop. Expected that with William Shatner skillfully paneling through some roaring rapids in the near future. -- fit for your Friday morning call for more news follow us on Twitter at lakers insider and check out our latest YouTube channel. At Reuters dot com slash orders to me I'm Lisa Bernard this is writers.

U.S. Morning Call: Groupon gets a raw deal

Friday, 09 Nov, 2012 - 03:02

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