Lakeway, NY -- (SBWIRE) -- 02/28/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Apple Inc. (NASDAQ:AAPL) CEO Tim Cook reassures worried shareholders about the company's sagging stock price that it is on threshold of inventing more breakthrough products.
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"The company is working as hard as ever, and we have some great stuff coming," Cook told shareholders Wednesday before taking their questions during Apple's annual meeting at its Cupertino, Calif., headquarters.
Besides its popular line of digital music players, smartphones and tablet computers Apple Inc is considering entering other categories like Internet-connected watch or TV that will be introduced later this year. One shareholder at Wednesday's meeting threw a new idea for Apple to ponder — a computerized bicycle. Cook, an avid bicyclist, chuckled at the suggestion, along with the rest of the audience.
Cook told shareholders the company's commitment to innovation remains Apple's "North Star" and "the beat of its heart."
Wall Street on the other hand showed disappointment in Apple as it did not clarify some of its $137 billion in cash to shareholders in the form of a dividend increase or a special one-time payment.
Although Apple is selling more gadgets than ever before, the company's profits and sales are not growing as robustly because of fiercer competition from a multitude of other smartphones and tablet computers, including ones costing less. Apple's biggest headaches have been caused by Android, a mobile operating system that Internet search leader Google Inc. gives away to a long list of device makers led by Samsung Electronics Co.
Groupon Inc (NASDAQ:GRPN) in order to attract and keep merchants take a smaller cut of revenue on daily deals, sacrificing revenue and profits.
Is GRPN a Strong Buying Opportunity After The Recent Slump? Find out Here
"This raises questions about how these guys are going to be able to scale the business," said Tom White, an analyst at Macquarie. "The forecast is underwhelming."
"We are focused on driving growth," Chief Financial Officer Jason Child said. "We will make the investments we feel we need to optimize for growth and merchant profitability."
Revenue for the quarter jumped 39% to $638.3 million and reported a net loss and an operating loss in the latest period.
Thomson Reuters I/B/E/S analyst expected Groupon to make 3 cents a share on revenue of $638 million.
The company forecast first-quarter revenue of $560 million to $610 million sharply below Thomson Reuters I/B/E/S analyst expectation of $650 million.
A larger-than-expected seasonal decline in the company's Goods e-commerce business also drove the weaker first-quarter forecast.
Shares of GRPN are down 23% in early session.
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