NEW YORK (
made its eagerly anticipated
as a public company on Friday, enjoying a pop as investors bought into its IPO.
of Groupon's accounting and concerns about the firm's ability to
, the shares soared 40% at market open.
Groupon had priced its offering at $20 late on Thursday, above the range of $16 to $18 it had initially sought. The offering valued the company at nearly $13 billion.
Groupon's stock opened at $28 a share on the Nasdaq. The shares then hit a high of $31.14 during the day's trading and eventually closed at $26.11, a 30.55% hike on the offering price.
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One of the biggest challenges looming on the horizon for the newly public company, however, is
from the likes of
, as well as a slew of smaller firms. Groupon has also gone public at a time of
in the global economy.
The worlds of technology and entertainment combined in somewhat bizarre fashion on Tuesday when Pete Townshend took a
Speaking at a lecture organized by the
, The Who guitarist described Apple's iTunes as a "digital vampire" that "bleeds" new artists instead of helping them build their careers.
The iconic musician urged Apple to help nurture emerging artists by providing A&R services, as well as computer hardware and music software.
Apple shares ended the week down $2.83, or 0.7%, at $400.24.
, after spending the last few months
the life out of investors, took a big step in the right direction on Tuesday by becoming the first major server player to
, ARM's technology has typically been found in smartphones and tablets, although HP will use the chips within a soon-to-be-launched server technology called Redstone.
HP's stock closed up 13 cents, or 0.48%, at $26.97 on Friday.
sales and profit jump during the company's
. Qualcomm released its results after market close on Wednesday, and the Apple partner sailed past Wall Street's estimates.
The chipmaker brought in revenue of $4.12 billion, up from $2.95 billion in the same period last year. Analysts surveyed by
were looking for revenue of $4 billion.
Robust guidance helped push Qualcomm's shares up in extended trading on Wednesday. The company's stock ended the week up 39 cents, or 0.7%, at $56.50.
as a public company after market close on Thursday, registering its first loss despite surging revenue.
The Mountain View, Calif.-based company also offered strong fourth-quarter guidance, predicting revenue between $154 million and $158 million, well above analysts' forecast of $147.94 million.
LinkedIn's stock, however, closed down $5.13, or 5.86%, at $82.37 on Friday.
Rumors of a possible
sale continued to swirl this week, with
reporting on Friday that the Web giant has signed
with several parties interested in buying all or part of the company.
Activist investor Daniel Loeb also
on Friday, attempting to oust former CEO Jerry Yang from the company's board.
Yahoo shares ended the week down 24 cents, or 1.55%, at $15.24.
Tech earnings rumble on next week, with managed hosting specialist
reporting its third-quarter results after market close on Monday. Networking giant
, however, will be the big headline-grabber, posting its first-quarter numbers on Wednesday.
-- Written by James Rogers in New York.
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