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U.S. Morning Call: Sequestration Day starts

Thursday, February 28, 2013 - 03:40

Mar 1 - Sequestration Day starts with Groupon looking for a new CEO after firing ex-Boss Andrew Mason. Or as he said he's decided to spend more time with family -just kidding.

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Here's your morning call for Friday and we begin with corporate news that's buzz in the social media world. I'm talking about Groupon CEO Andrew -- getting the boot. Did it and dial the ex chief known for offbeat sense of humor -- -- remarkably candid outgoing letter to employees staying. Put after fourteen top tens and wonderful years as CEO of group on I decided I'd like to spend more time with my family just I was fired today. He could not to think that he should be held accountable for the company's controversial metrics to its material weakness. Also the stock which is roughly a quarter of its listing price now up over 4% in premarket. Shares jumped as much as 8% in after hours trade on the news. What could be the start of the new writer chapter for -- not everyone seems to -- Coupons fired its CEO Andrew Mason is that gonna fix the troubled company's problems now not at all. Take a look at the company's numbers the last quarter they were just awful European operations are complete mess. They said sales next quarter gonna be worse than they were this quarter and the key market for the company deal sector the -- in your coupons. Is shrinking. Well it's Friday it must be sequestration day. We don't highly unlikely last -- -- the 85 billion dollars in cuts across federal government agencies starts today. The White House and house Republicans so far are miles apart the -- expected to shave at least point 5%. Off US economic growth. Checking and on stock futures they're looking weaker across the board this morning amid the uncertainty. The benchmark ten year bond yield is down a sign investors are seeking safety. And later today Federal Reserve Chairman Ben Bernanke speaks at an event hosted by the Federal Reserve Bank conferences. The oracle of Omaha Warren Buffett filed his latest annual letter to Berkshire shareholders this afternoon one of the poster read. Corporate documents in the financial world. The dairy queen kinda humor has been an honor roll re picking up food giant Heinz and adding another newspaper to his growing chain. This time it's told the world in Oklahoma expect insight and direction on other possible deals. But did not rich guy. -- a great time. -- of twelve billion dollars pershing square capital management sought to of his -- holdings split and treating. Eighth -- lost a lot of ground after a dismal earnings reports. And -- another key holding invited to repetitive his art and -- Carl Icahn onto its board. It was a two aspirin kind of day for bill we suspect. The stocks to watch this morning starting with bats by according to the Wall Street Journal to consider consumer electronics chain and it talks with founder Richard shoals over a deal. Which he and a group of buyout firms were offering to take a minority stake in exchange for three seats on the board. We're not to -- mr. shall know shares are down slightly in the premarket. Keep your eye on the gap the retailer beat fourth quarter profit estimates helped by higher and terrible stores sales in North America. The company also raised its dividend for this year by two cents to sixty. After -- called it's Friday you can follow us on Twitter writer is insider and check out more of our great video that Reuters dot com slash. I'm -- mom this is.

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U.S. Morning Call: Sequestration Day starts

Thursday, February 28, 2013 - 03:40