Tech Five: Shares of LinkedIn, Groupon surging
Investors in LinkedIn and Groupon are enjoying a nice treat for Halloween. Let's look at the tech stocks to watch Friday:
LinkedIn. Shares zoomed 9.5% in pre-market trading after the professional social network reported strong third-quarter results, but a weaker than expected forecast for the fourth quarter. LinkedIn reported sales of $568 million with an earnings per share of 52 cents, well above Wall Street forecasts.
Groupon. Shares of the daily deals service soared 7% despite reporting a wider third quarter loss than analysts predicted. According to The Wall Street Journal, Groupon lost $21.2 million during the quarter, but saw a 27% jump in revenue to $757.1 million.
Sony. Mobile troubles plague the electronics giant, as they reported a loss of $1.2 billion during the last quarter, reports AP. The company's mobile communications division recorded an operating loss of $1.6 billion during the quarter.
Google. The head of Google's robotics business is leaving the company to start an incubator. Andy Rubin had been leading Google's Android division until 2013.
Microsoft. The tech giant becomes the latest to enter the wearables space. The company unveiled the $199 Microsoft Band as well as a new app called Microsoft Health.
Follow Brett Molina on Twitter: @brettmolina23.
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