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Leigh Baldwin & Co.

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Diamonds and Dogs

8/14/12

Groupon Inc. (GRPN)

Groupon Inc. is offering their stock at a discount today, down 27.02% at $5.51. The online discount provider saw its shares crash after some concerns arose from the company's earnings report. Groupon released that their earnings line was higher than many analysts forecast, led by a 45% increase in sales for the second quarter. While this is good news; there was some troubling information in the report. One such concern was a decline in gross billings from the March period, which analysts believe indicates a weakening in the company's core daily deals business. Groupon's forecast for the third quarter was also disappointing, as the company said it was anticipating further weakness in Europe. Many analysts believe that Groupon's problems will continue to persist into the future. Groupon reached a new 52-week low and is far from its $20 IPO price.

Michael Kors Holdings Ltd. (KORS)

Michael Kors is climbing higher today, up 16.48% at $49.33. The fashion retail company saw its shares bounce after it released an earnings report that topped analysts' estimates. Michael Kors stated an EPS of $0.34 versus the consensus of just $0.20. Quarterly same-store sales in Europe and North America surged 24% and 38%, respectively, and gross margins widened. Furthermore, the company estimated blowout guidance for 2013. Management now sees full-year EPS of $1.32-$1.34 on revenue of $1.8 billion-$1.9 billion, up nicely from its prior view of $1.08-$1.12 and $1.7 billion-$1.8 billion. CEO John Idol said, "Overall, we are extremely excited about the long term growth potential of our Company as we continue to build upon the success we achieved in establishing Michael Kors as a global luxury lifestyle brand." Michael Kors is pushing near its 52-week high and up nearly 150% since its December IPO date.
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