Market News: LinkedIn Corp, Groupon Inc, GoPro Inc

Market News: LinkedIn Corp, Groupon Inc, GoPro Inc
market news

The stock markets in the United States gained driven by the unexpected decision of the Bank of Japan to increase its economic stimulus, which ignited optimistic regarding the global economic growth.

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The Bank of Japan tripled its exchange-traded funds and real estate investment trusts purchases and accelerated its government bond-buying activity.  Separately, the $1.2 trillion Government Pension Investment Fund in Japan announced new portfolio allocations, which would double its investments in domestic and foreign stocks.

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Paul Zemsky, chief investment officer at Voya Investment Management said, “It’s not just the (BOJ’s) easing, but the asset allocation from the pension plan is of course also helpful. Economic growth (in the United States) is looking pretty good, earnings are good … We will end the year certainly closer to 2,100 than 2,000 on the S&P 500.”

On the other hand, Patrick Moonen, a senior strategist at ING Investment Management told Bloomberg, “The BOJ move is the icing on the cake. Fundamentals are still good. Corporate earnings are better than expected, U.S. macro data came in strong and even the data in the euro zone show signs of stabilization.”


The Thomson Reuters/University of Michigan final October index of consumer confidence climbed from 84.6 to 86.9.

Jonathan Corpina, senior managing partner at Meridian Equity Partners said, “When we have some positive headlines out there, the market only focuses on that aspect. Since we’ve bounced off those lows 7, 8, 9 percentage points ago, the market seems to be determined to hit new highs.”

U.S. Markets

  • Dow Jones Industrial Average (DJIA) – 17,371 (+1.02%)
  • S&P 500- 2,016.15 (+1.08%)
  • NASDAQ- 4,629.12 (+1.38%)
  • Russell 2000- 1,172.77 (+1.47%)

European Markets

  • EURO STOXX 50 Price EUR- 3,113.32 (+2.55%)
  • FTSE 100 Index- 6546.47 (+1.28%)
  • Deutsche Borse AG German Stock Index DAX- 9,326.87 (+2.33%)

Asia-Pacific Markets

  • Nikkei 225- 16,413.76 (+4.83%)
  • Hong Kong Hang Seng Index- 23,998.06 (+1.25%)
  • Shanghai Shenzhen CSI 300 Index- 2,508.33 (+1.60%)

Stocks in Focus

The stock price of LinkedIn Corp (NYSE:LNKD) climbed almost 13% to $228.96 per share after the professional social network reported better than expected quarterly financial results. The company said its revenue rose 45% to $568.3 million, higher than the $557.7 million consensus estimate.

The shares of Groupon Inc (NASDAQ:GRPN) surged more than 22% to $7.31 per share after the daily deals company posted financial performance that exceeded the expectations of Wall Street analysts. The company reported adjusted EBITDA of $67 million, non-GAAP earnings of $0.03 per share and $757.1 million in revenue. Its gross billings were $1.86 billion for the third quarter.

GoPro Inc (NASDAQ:GPRO) gained nearly 13% to $77.10 per share after the company forecasted that its fourth quarter earnings will be around $0.65 to $0.69 per share, higher than the $0.53 per share estimate by analysts.  The sports camera maker’s 3Q financial results beat consensus expectations.


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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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