NEW YORK -- Groupon (GRPN) the online deals company revised its reported fourth-quarter results lower and said its independent auditor determined it has a "material weakness" in its internal controls.
Groupon affirmed its first-quarter guidance, reiterating its revenue forecast of between $510 million and $550 million.
Starbucks (SBUX) is planning a big expansion of its China business, according to reports.The coffee-shop operator plans to triple its number of stores in China to 1,500 from 500 by 2015, said John Culver, the head of Starbuck's China and Asia Pacific business, according to The Wall Street Journal. 5 Chip Stocks J.P. Morgan Likes
Sirius XM Radio (SIRI) is appealing to federal regulators to prevent Liberty Media Corp. (LMCA) from taking over the satellite radio company. Sirius revealed in a filing to the Federal Communications Commission on Friday that Liberty has asked the FCC for permission to take "de facto" control of Sirius. But Sirius asked the FCC to "dismiss or deny" the application, the Journal said. Liberty owns preferred stock that is convertible into about 40% of the outstanding common stock of Sirius. 5 Stocks Under $10 Poised to Move Higher
Credit card processor Global Payments (GPN) said Sunday night it "identified and self-reported unauthorized access into its processing system. " Global Payments, in a press release, said hackers accessed its processing system and about 1.5 million card numbers "may have been exported. "The company said the breach was confined to North America. It said it believes the "incident is contained."
Comcast (CMCSA) reached a distribution deal with the Oprah Winfrey Network that will increase the number of homes that can view the network's programs, said a report. Under the agreement, 17 million Comcast subscribers will have access to OWN, up from about 14 million right now, the Journal reported, citing people familiar with the situation. Biotech Stock Mailbag: MAP Pharma, Affymax
-- Written by Joseph Woelfel
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