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Groupon Korea to close in H1, make room for TMON

SEOUL, March 4 (Yonhap) -- Groupon Korea said Tuesday it will close down no later than within the first half of this year so that its parent company, Groupon, can focus on operating its other, more successful South Korean unit Ticket Monster Inc. "An executive of Groupon notified us yesterday (Monday) that the company has decided to liquidate Groupon Korea," said an official at the South Korean unit of the world's biggest deal-of-the-day website operator. The parent firm plans to let go of Groupon Korea's approximately 160 employees.

US stocks dip after weak housing report

US stocks Friday finished with modest declines as investors shrugged off a drop in sale of existing homes as weather-related. The Dow Jones Industrial Average fell 29.93 points (0.19 percent) to 16,103.30. The broad-based S&P 500 dropped 3.53 (0.19 percent) to 1,836.25, while the tech-rich Nasdaq Composite Index slipped 4.13 (0.10 percent) to 4,263.41. Sales of used homes fell 5.1 percent in January to an annual pace of 4.62 million units, down from the rate of 4.87 million in December, according to the National Association of Realtors.

Groupon forecasts loss on higher marketing costs, shares slump

By Sruthi Ramakrishnan (Reuters) - Daily deals website Groupon Inc forecast a surprise loss for the current quarter as it spends more on marketing, sending its shares down more than 13 percent in extended trading. The stock had briefly risen more than 18 percent in extended trading after the company reported better-than-expected fourth-quarter results helped by strong demand in the holiday season for its business that sells discounted products.

Annie's, Sprint, Allscripts, Dean Foods and Groupon are big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Dean Foods Co., down $1.12 to $14.08 The nation's largest milk processor said that high commodity prices will make 2014 a challenging year. ConAgra Foods Inc., down $1.97 to $29.08 The food products company trimmed its outlook for 2014 and 2015 on low volumes, margin pressure and soft sales for private brands. Reynolds American Inc., down 74 cents to $48.07

Groupon loss narrows in 3rd quarter as daily deal service expands its e-commerce selection

CHICAGO - Groupon Inc. whittled its losses during the third quarter, but weak revenue growth underscored the challenges facing the online daily deal service as it tries to morph into a more comprehensive destination for Internet bargain hunters. As part of its expansion efforts, Groupon announced Thursday that it is buying Korea-based Ticket Monster from its daily deal rival Living Social for $260 million in cash and stock. The deal provides Groupon with a springboard for selling more products and travel packages in Korea.

Groupon fails to end lawsuit alleging fraud linked to IPO

(Reuters) - Groupon Inc failed to persuade a federal judge to dismiss a lawsuit accusing the daily discount deals provider of misleading investors about its financial prospects and internal controls before it went public in November 2011. U.S. District Judge Charles Norgle in Chicago said the lead plaintiff plausibly alleged that Groupon used improper "refund accounting" to boost revenue and reduce operating losses in initial public offering materials and subsequent regulatory filings, and knew or should have realized its statements were false.

US stocks end mixed one day after big rally

US stocks Thursday closed mixed, cooling off after Wednesday's torrid rally in the wake of the Federal Reserve's decision to maintain an aggressive stimulus program. The Dow Jones Industrial Average dropped 40.39 (0.26 percent) to 15,636.55. The broad-based S&P 500 dipped 3.18 (0.18 percent) to 1,722.34. Both the Dow and the S&P 500 reached record highs Wednesday after the Fed announcement. The tech-rich Nasdaq Composite Index rose 5.74 (0.15 percent) to 3,789.38.

Like Groupon, LivingSocial works to move beyond daily deals as market matures

NEW YORK, N.Y. - LivingSocial, like its larger rival Groupon, is working to move beyond daily deals. Washington-based LivingSocial, which is privately held, is not getting rid of the deals for restaurants, spas and getaways that land in subscribers' inboxes every day. Rather, the company is expanding the number of deals it offers, extending the duration of their availability and adding online coupons for national chains to its offerings.

Netflix, Groupon, Kaydon, Fastenal and Navistar are big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Kaydon Corp., up $6.65 to $35.55 The industrial products company sold itself to SKF Group for about $1.14 billion in cash. Louisiana-Pacific Corp., up $1.69 to $16.95 The building products company is buying Ainsworth Lumber Co. of Canada for $1.1 billion. Navistar International Corp., up $1.06 to $34.13

Energy sector leads US stocks gains amid Syria jitters

US stocks rebounded Wednesday led by energy companies benefiting from an oil price spike, as the West mulls a possible punitive attack against Syria for its alleged chemical weapons use. The Dow Jones Industrial Average rose 48.38 points (0.33 percent) to 14,824.51. The broad-market S&P 500 climbed 4.48 (0.27 percent) to 1,634.96, while the tech-rich Nasdaq was the biggest gainer, up 14.83 (0.41 percent) at 3,593.35.
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