Groupon Downgraded To Neutral From Buy At B. Riley As CFO Departs

Groupon Inc. shares were downgraded to neutral from buy at B. Riley, with the broker citing concerns about the departure of Chief Financial Officer Jason Child in the middle of a turnaround. "We are also cautious on the value of the Rest of the World assets, which are on the block, but the value could be lower than expected and hence, would not be a catalyst for the stock," analysts wrote in a note. Groupon announced the CFO's departure on Wednesday, as the discount voucher company said it was adding $200 million to its stock repurchase program. The Chicago-based company said Child will leave at the end of July, to relocate to the West Coast. Brian Kayman, currently the vice president of tax and treasury, was named interim CFO, effective immediately, while the company searches for a permanent replacement. Shares were not yet active in premarket trade, but are down 25.5% in the year so far, while the S&P 500 has gained 2.7%.