Groupon Spikes Before Earnings, Tesla Soars on Analyst Comments -- Tech Winners & Losers

NEW YORK (TheStreet) -- Groupon (GRPN) surged ahead of its earnings report this week, with one research firm describing it as a company overlooked by Wall Street. Tesla Motors (TSLA) soared on positive comments from Credit Suisse. Quantum  (QTM) spiked after an analyst upgrade.

Groupon jumped 3.7% to close at $7.04.

The online daily deals site jumped after research firm Zacks described the company as "well positioned for a solid gain, but has been overlooked by investors." Zacks, in its report, noted Groupon has seen Wall Street raise its earnings estimates by approximately 50% over the past month for its current fiscal year.

When Groupon reports its first-quarter earnings after the markets close Tuesday, analysts expect the company to post a profit of 1 cent a share on revenue of $817.46 million. The company, meanwhile, forecasts earnings of breakeven to 2 cents a share on revenue between $790 million and $840 million.


Tesla climbed 2% to end the session at $230.51.

The high-end electric vehicle maker received a boost after Credit Suisse noted the car maker has made accomplishments in the past six months, yet has not been recognized by Wall Street for those changes, notes a report in 24/7 Wall St.

Tesla plans to announce its first-quarter earnings after the markets close Wednesday. Analysts anticipate the company reporting an operating loss of 50 cents a share on revenue of $1.04 billion, according to a Wall Street Journal report. Since the close of the first quarter, Tesla's shares have risen 22.3%, partially due to its recent announced plan to operate a battery business that is designed for commercial and home users. 


Quantum spiked 7.9% to close at $2.19.

The storage maker received an upgrade from Northland Capital to outperform from market perform, according to a Briefing.com report

Quantum is scheduled to announce its fiscal fourth-quarter results after the close of the market on Wednesday.

Last month, the company issued strong preliminary results for the fiscal fourth quarter, noting its revenue had risen about 15% from year-ago figures and would be in excess of $145 million. The company's previous forecast for the fourth quarter had been in the range of $130 million to $135 million for its revenue and Wall Street had expected $131.2 million.

 

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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