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The Nasdaq Now: Groupon Up 35% Since Last Week's All-Time Low

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Research In Motion and Green Mountain Coffee Roasters were also up on the day.

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MINYANVILLE ORIGINAL US stocks cut some of their early-morning losses and were hovering near the previous session's closing levels, as investors weighed a horrific quarterly report from Hewlett-Packard (NYSE:HPQ) and strong housing data.

The Nasdaq Composite (INDEXNASDAQ:.IXIC) was up 0.03% to 2,916.97 points on below-average trading volume of 673.03 million as of 12:09 p.m. EST.

Groupon (NASDAQ:GRPN) was one of the best Nasdaq performers on the day, surging 12.72% to $3.50 on news that New York-based hedge fund Tiger Global had purchased a 9.9% stake (65 million shares) in the online daily deals company. Shares of Groupon have advanced 35% since they hit an all-time low of $2.60 on November 12.

Green Mountain Coffee Roasters (NASDAQ:GMCR) continued its upwards momentum from yesterday, rising 6.69% to $29.16. Earlier, the company announced Coca-Cola (NYSE:KO) executive Brian Kelly would become its new president and CEO.

Ahead of the January 30 launch of the long-delayed BlackBerry 10, Research In Motion (NASDAQ:RIMM) received an analyst upgrade from Jefferies to Hold from Underperform, with the price target revised to $10 from $5.

"Preliminary results from our quarterly handset survey indicate developed market carriers have a much more positive view of BB10 than we expected," said Jefferies analyst Peter Misek in a client note.

As a result, shares of RIM gained 4.07% to $9.98. Earlier in the day, the stock even crossed the double-digit mark, the first time it had done so in five months.

PC maker Dell (NASDAQ:DELL) was likely dragged down by HP's woes, with the former falling 1.48% to $8.99 as investors continue to worry about the ability of these companies to find success in the ever-growing mobile sector.

Urban Outfitters (NASDAQ:URBN) also eased 0.27% to $36.97. Yesterday, the retailer posted third-quarter earnings of $0.40 per share on revenue of $692.9 million. The consensus estimate was $0.41 per share on $693.1 million in sales.


Twitter: @sterlingwong
No positions in stocks mentioned.
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