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Groupocalypse Now: the daily deals leader is hit with 3 downgrades following an EPS miss and...

Groupocalypse Now: the daily deals leader is hit with 3 downgrades following an EPS miss and soft guidance. Wells Fargo, cutting Groupon (GRPN -23.3%) to Market Perform, declares "the company is moving away from a technology platform for merchants and into a discount inventory overstock retailer," and sees its margin weakness as proof. Wells adds this shift hurts Groupon's brand and puts it "on a collision course with Amazon." Evercore remains bearish, but is encouraged by Groupon's billings, and thinks new initiatives such as Local Marketplace are helping out. (transcript)
Comments (1)
  • funny- this author's apocalypse now reference was published at the same time as phil davis' reference.

     

    perhaps it IS all one giant computer program after all.
    28 Feb 2013, 10:51 AM Reply Like
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