NEW YORK (TheStreet) -- Groupon
(GRPN) stock is sliding before the bell after the deals site issued weaker-than-expected second-quarter guidance.
In premarket trading, shares had tumbled 8.9% to $6.12.
In its June-ending quarter, the company anticipates earnings breakeven to 2 cents a share. Analysts surveyed by Thomson Reuters had expected 3 cents a share. Revenue between $725 million and $775 million was inline with forecasts of $757.65 million.
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TheStreet Ratings team rates GROUPON INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GROUPON INC (GRPN) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and disappointing return on equity."
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