Groupon, Zynga, Sirius: Premarket Movers

NEW YORK (TheStreet) -- Groupon(GRPN) was tech's big winner in premarket trading on Tuesday as the company's stock exploded following its strong first-quarter earnings, released late on Monday.

Shares of Groupon surged 25.69% to $14.75 as the daily deals site posted better-than-expected earnings. The Chicago-based firm reported earnings of 2 cents a share on $559.3 million in revenue. Analysts surveyed by Thomson Reuters were looking for a profit of a penny a share on revenue of $530.6 million.

On the top line, Groupon's revenue soared 89% year over year, thanks in part to strong international growth, which climbed 102% over the same period.

Groupon was also one of the most active Nasdaq stocks in premarket trading on share volume of 920,382.

With Facebook(FB) raising its IPO price target early on Tuesday, social gamer Zynga(ZNGA) was also a big premarket gainer. The Facebook partner's stock was up 6.29% to $8.45 on share volume of 458,464.

Sirius XM(SIRI) was another mover. Shares of the satellite radio giant rose 0.99% to $2.04 on share volume of 256,511.

James Rogers

05/15/12 - 08:58 AM EDT

--Written by James Rogers in New York.