Market Minute: Groupon Shares Set to Rally; Tesla Posts Unexpected Profit

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Two of the markets hottest stocks are set to rally some more. Those and more are what's in business news Thursday.

The Dow Jones industrial average (^DJI) fell 48 points Wednesday, its third straight loss. The Standard & Poor's 500 (^GPSC) fell 6, and the Nasdaq composite index (^IXIC) dropped 11 points.

groupon earnings stocks investing market news wall street
Christoph Soeder/dapd
Shares of Groupon (GRPN) have been a great deal for shareholders this year, and they're about to get even better. The stock has soared 80 percent so far, and after reporting better than expected revenue growth, the online deals site is set to extend its rally. Groupon also named one of its co-CEOs as the sole chief.

And Tesla Motors (TSLA) posted a quarterly operating profit when most analysts were forecasting a loss. Production and sales of its Model S vehicle increased by more than expected. Tesla shares have quadrupled in price this year.

After the close we'll hear from another top performer, Priceline.com (PCLN), which is up 50 percent this year.

But Green Mountain Coffee Roasters (GMCR) is not so hot. Its stock is set to decline after quarterly earnings came in short of expectations.

JPMorgan Chase (JPM) says it is the subject of federal civil and criminal probes for alleged violations of securities laws. The case is tied to the bank's offer of sub-prime mortgage securities prior to the financial crisis. The company has raised its reserve for potential losses.

Apple (AAPL) has won a round in its patent skirmish with Google's (GOOG) Mobility unit. A federal appeals court says the U.S. International Trade Commission erred when it threw out Apple's claim, which had to do with its technology for smartphone touch-screens. The case now goes back to the ITC for a new hearing.

A key measure of sales at warehouse retailer Costco (COST) rose 4 percent last month, but that was a bit weaker than expected.

During the past week, the Washington Post and the Boston Globe have been sold. That's sparked rumors about the New York Times, but the family that owns the paper says it isn't for sale.

-Produced by Drew Trachtenberg.


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pdbliz

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August 08 2013 at 9:11 AM Report abuse -1 rate up rate down Reply