Actionable news
All posts from Actionable news
Actionable news in GRPN: Groupon, Inc.,

How Merrill Lynch Views Groupon After Earnings

Groupon Inc. (NASDAQ: GRPN) reported earnings and issued guidance on the current quarter after the markets closed on Tuesday. Needless to say, analysts and investors alike did not appreciate what they heard. As a result, analysts dropped their ratings and targets on the stock while investors initiated a large sell-off. In a nutshell, the updated guidance was considered significantly weaker and shares dropped over 25% in the after-hours session.

Along with this stifling blow, Groupon separately announced that its chief executive officer, Eric Lefkofsky, would be stepping down. Chief Operating Officer Rich Williams will be assuming the role of CEO, while Lefkofsky will return to the role of chairman, effective immediately.

For the most part...