Market Overview

Mid-Afternoon Market Update: Groupon Shares Continue to Show Weakness Following Earnings as Isis Pharmaceuticals Rallies

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Toward the end of trading Friday, the Dow traded up 0.10 percent to 16,144.28 while the NASDAQ surged 0.13 percent to 4,273.97. The S&P also rose, gaining 0.07 percent to 1,841.86.

Leading and Lagging Sectors
In trading on Friday, healthcare shares were relative leaders, up on the day by about 0.65 percent. Meanwhile, top gainers in energy sector included Emeritus (NYSE: ESC), with shares up 36 percent, andIsis Pharmaceuticals (NASDAQ: ISIS), with shares up around 17 percent.

Energy sector was the leading decliner in the US market today. Energy shares fell around 0.08 percent in today's trading. Among the energy stocks, Endeavour International (NYSE: END) was down more than 12 percent, while Cabot Oil & Gas (NYSE: COG) tumbled around 7 percent.

Top Headline
After the closing bell Thursday, Groupon (NASDAQ: GRPN) projected a surprise loss for the first quarter. For the first quarter, Groupon expected an adjusted loss of $0.02 to $0.04 per share on revenue of $710 to $760 million. However, analysts were projecting a profit of $0.06 per share on revenue of $668.7 million. Groupon posted a quarterly net loss of $81.2 million, versus a year-ago loss of $81.1 million. On a per share basis, it lost $0.12 per share. Excluding items, Groupon earned $0.04 per share. Its revenue climbed to $768.4 million. However, analysts projected earnings of $0.02 per share on revenue of $718 million.

Equities Trading UP
Emeritus (NYSE: ESC) shot up 35.79 percent to $29.14 after the company and Brookdale Senior Living (NYSE: BKD) signed a definitive merger agreement.

Shares of Tile Shop Holdings (NASDAQ: TTS) were up as well, gaining 14.34 percent to $14.91 after the company's fourth quarter report impressed the street.

Isis Pharmaceuticals (NASDAQ: ISIS) was also up, gaining 14.18 percent to $58.32 on positive ISIS-SMN Rx data in children with SMA.

Equities Trading DOWN
Shares of Fleetmatics Group PLC (NYSE: FLTX) were down 10.56 percent to $35.73 after the company issued a weak profit forecast.

Groupon (NASDAQ: GRPN) shares tumbled 21.20 percent to $8.09 after the company projected a surprise quarterly loss.

MRC Global (NYSE: MRC) was also down, falling 15.90 percent to $24.86 after the company missed on its fourth quarter report while issuing less than impressive guidance. Commodities
In commodity news, oil traded down 0.63 percent to $102.10, while gold traded up 0.58 percent to $1,324.40.

Silver traded down 0.03 percent Friday to $21.80, while copper rose 0.30 percent to $3.29.

Eurozone
European shares were mostly higher today.

The Spanish Ibex Index rose 0.09 percent, while Italy's FTSE MIB Index declined 0.30 percent.

Meanwhile, the German DAX climbed 0.40 percent and the French CAC 40 climbed 0.59 percent while U.K. shares gained 0.37 percent.

Economics
Sales of existing homes declined 5.1% to an annual rate of 4.62 million in January, according to the National Association of Realtors. However, economists were projecting a rate of 4.67 million.

Posted-In: Earnings News Guidance Eurozone Futures Forex Global Econ #s

 

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