Welcome to a special "tech gets slaughtered" edition of Trending Tickers. You can blame the negative psychology surrounding the Alibaba IPO, Twitter's lock-up disaster yesterday or the simple fact of this being May but there are some former Nasdaq darlings getting absolutely murdered today. It's not just tech but any company showing a sign of weakness is being hit.
Ticking through some of the glaring examples we've got Whole Foods (WFM) off 21%, AOL (AOL) down 18% both on earnings. Twitter's (TWTR) off again by 4%, Facebook (FB) off 3% just because why not, Yelp (YELP) off another 3% but trying to bottom. It's ugly down here folks so buckle up as we get into three names that stand out from the general carnage. Here's what's trending
FireEye (FEYE) getting taken out behind the woodshed today to the tune of 27%. The latest slide comes after weak Q1 earnings but the company that was a high flyer for it's first several months as a publicly traded company is down more than 60% in just the last two months. Yesterday the company announced the 60 million dollar acquisition of n-pulse, a company they say will help it improve it's network security profile.
Zulilly (ZU) shares are down more than 25% despite the company beating earnings and raising guidance. Sales were up more than 87% but losses also rose. There are some fundamental concerns surrounding shipping times but mostly Zulilly is a victim of having come public 6 months ago. Fast growth or not Zulilly is still sporting a market cap of more than $4 billion which is about twice what Zulilly can hope to do in revenues this year. Ouch.
Groupon (GRPN) also getting hit by nearly 19%. The daily deals company reported less than stellar earnings yesterday, sure, but it seems the real problem here is a little bad news, combined with an overall bloodied tech space only make matters worse, hence the steep fall for Groupon whose stock is already down over 40% so far this year.
Those are your doom and gloom Trending Tickers for today. Be careful out there campers. We'll see you back here tomorrow.
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