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Wednesday, April 7, 2010 as of 11:14 AM ET

Howard Schultz

Howard Schultz

Howard Schultz (born July 19, 1953) is an American business magnate. He is best known as the chairman and CEO of Starbucks and a former owner of the Seattle SuperSonics.

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Groupon Narrows 1Q Loss With Lower Marketing Costs

Groupon Inc.

's (GRPN) first-quarter loss narrowed on stronger-than-expected revenue growth and lower marketing costs.Shares jumped 12% to $13.15 after hours as the company's core profit edged over Wall Street's expectations, building onto a 19% gain during the regular session. As of Monday's close, the stock was still off 36% since the end of March, when the company spooked investors by revising its fourth-quarter results downward.Groupon has been working to regain shareholders' confidence after the company was blindsided by a pricier-than-expected list of customer refund requests, which forced the discount provider to clip $14.3 million from its fourth-quarter revenue. The mistake also reduced operating income by $30 million and aggravated its loss by four cents a share.The company responded last month by naming two new directors to with financial backgrounds to its board, including Deloitte LLP Vice Chairman Robert Bass, who will stand for election at Groupon's upcoming annual meetin...

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