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News For GRPN From The Last 14 Days
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October 8, 2015
10:15 EDTGRPNGroupon retreats after analyst starts coverage with sell rating
The shares of Groupon (GRPN) after falling after research firm Cowen initiated coverage of the stock with an Underperform rating, the firm's equivalent to a sell, warning that the company's operating margins are "low and trending down." WHAT'S NEW: Groupon's margins are "steadily deteriorating" as the company has lowered the amount it charges retailers who participate in its Services deals, Cowen analyst Kevin Kopelman reported. Moreover, Groupon has begun subsidizing the discounts that Services merchants offer, the analyst said. Meanwhile, the coupon company's Shopping business carries much lower margins than its Services unit and its efforts to raise Shopping's margins have yielded "choppy" progress, according to Kopelman. The year-over-year growth of Groupon's active North America customer base dropped to 10% in Q2, from 18% in the second quarter of 2014, indicating that its core market has peaked, the analyst stated. Noting that Groupon has identified food delivery as its next growth catalyst, Kopelman warned that the space is "hyper-competitive." Yelp (YELP), Amazon (AMZN) and Uber have all announced plans to enter the sector, noted the analyst, who believes that it will be difficult for Groupon to generate return on investment in the space. Kopelman set a $2.75 price target on Groupon. WHAT'S NOTABLE: Grubhub (GRUB) is a key player in the Internet food delivery space. PRICE ACTION: In early trading, Groupon fell 3.7% to $3.68, while GrubHub lost 1% to $28.18.
10:00 EDTGRPNOn The Fly: Analyst Initiation Summary
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09:27 EDTGRPNOn The Fly: Pre-market Movers
HIGHER: Novocure (NVCR), up 10.9% after FDA approves Optune... Neurocrine Biosciences (NBIX), up 15.9% after reporting positive results from its Phase III Kinect 3 study of NBI-98854... Biomed Realty Trust (BMR), up 8.7% after agreeing to be acquired by Blackstone (BX)... EMC (EMC), up 4% following reports that Dell is in talks to acquire the company. DOWN AFTER EARNINGS: Domino's Pizza (DPZ), down 5.1%. ALSO LOWER: Ocean Rig UDW (ORIG), down 16% after receiving notice of a material breach for the Ocean Rig Mylos contract... Shake Shack (SHAK), down 7% after filing to sell up to 26.16M shares of Class A common stock for holders... Groupon (GRPN), down 3.1% after being initiated with an Underperform at Cowen.
07:50 EDTGRPNGroupon initiated with an Underperform at Cowen
Cowen initiated Groupon with an Underperform and $2.75 price target on shares. Cowen analyst Kevin Kopelman said recent growth figures suggest the voucher marketplace has peaked and notes the food delivery space is hyper-competitive, making ROI difficult to generate.
September 30, 2015
09:21 EDTGRPNOrderUp updates iPhone app to include Apple Pay
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