Executive changes at a pair of tech companies is having an impact on trading Wednesday. Meanwhile, one of tech’s titans reports third quarter earnings after the bell.
Let’s look at tech stocks to watch.
Groupon. Shares of the daily deals site sunk 27% in afternoon trading after naming Rich Williams its new CEO following a lackluster earnings report. Groupon reported a loss of $27.6 million, while shares have lost more than half their value this year.
Etsy. The marketplace for handcrafted items reported a third-quarter loss of $6.9 million, compared to a loss of $6.3 million a year ago. Etsy’s total revenue was $65.7 million, a 37.9% boost from a year ago. Shares of Etsy are down nearly 8%.
Zynga. The social games company announced chief financial officer David Lee is stepping down, with Michelle Quejado taking over on an interim basis. The former Best Buy executive was brought in last year by then-CEO Don Mattrick, who helped navigate Zynga toward a mobile future before stepping down in April.
Facebook. The social network reports third-quarter earnings when the markets close Wednesday. Analysts are projecting revenue of $4.37 billion with earnings of 52 cents a share.
Follow Brett Molina on Twitter: @brettmolina23.
Read or Share this story: http://usat.ly/1MyR9di