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Thursday, Feb 14
Groupon (GRPN +1.8%) adds to yesterday's gains after Evercore's Ken Sena, who has been bearish...
Groupon (GRPN +1.8%) adds to yesterday's gains after Evercore's Ken Sena, who has been bearish for a while, removes the daily deals giant from his Conviction Sell list, albeit while reiterating an Underweight. Sena notes deal aggregator Yipit estimates Groupon's new Local Marketplace/deal search product has grown to make up 12% of North American billings. He now thinks NA billings rose 25% Q/Q in Q4, well above a prior estimate of 2%. Also, U.S. time spent on mobile devices is believed to have risen 36% Q/Q, up from Q3's 25%. Q4 results are due on Feb. 27.