Investors who had speculated Groupon would have good news when it reported its latest earnings this evening have scored big time.
Stock in the online deals company was up about 15 per cent in extended trading, adding to the 18.5 per cent rally seen in the regular session, as financial results were better than consensus views.
Excluding special items, Groupon earned 2 cents (U.S.) per share in its latest quarter, a penny better than the Street consensus. Revenue grew 89 per cent to $559.3-million, also beating analyst expectations, thanks to greater demand for its services from its user base.
There were few other earnings of note in the post market, but Moody’s did its part to keep jitters alive over the euro zone debt crisis. It slashed its credit ratings on 26 Italian banks, including Unicredit and Intesa Sanpaolo, by up to four notches, citing their vulnerability to more trouble in the euro zone.
Research In Motion , whose U.S. shares slid to an eight-year low of $11.55 in the early minutes of the regular session today, slid 2 cents, or 0.2 per cent, in the post market after closing unchanged.
Traders will have lots of economic data to munch on, starting with euro zone GDP, industrial production, CPI and trade balance figures, all to be released at 5 a.m. (ET). The first-quarter gross domestic product figures will likely garner the most attention. Analysts are expecting a 0.2 per cent contraction from both the previous three months and a year earlier, confirming the 17-member monetary union is in the midst of a mild recession.
There’ll also be plenty of U.S. economic releases on Tuesday to keep traders busy. The most newsworthy will be the consumer price index and retail sales report, both arriving at 830 a.m. (ET).
The CPI in March rose 0.3 per cent, or 0.2 per cent when excluding food and energy. Analysts, on average, are expecting no change for the month for the headline figure, and a gain of 0.2 per cent when food and energy is excluded.
Retail sales in March advanced 0.8 per cent and this time around analysts are expecting a much more subdued gain of 0.1 per cent.
On the corporate front, Home Depot is due out with earnings before market opens. Analysts are expecting profit of 65 cents. Saks is also out with earnings, with profit forecast at 18 cents per share.