Groupon in Focus on CFO Exit; Services Activity at 13-Month Low

Groupon (GRPN) shares were on watch Wednesday after chief financial officer Jason Child announced he will step down at the end of July. Brian Kayman, VP of tax and treasury, will act as interim finance chief. Growth in the services industry fell to a 13-month low in May with the ISM non-manufacturing index falling short of forecasts. The index remained in expansionary territory, though, with its employment metric still growing. Wendy’s (WEN) popped after announcing a $1.4 billion buyback program. Stocks rallied, propelled by fresh data that showed signs of a second-quarter recovery after a disappointing start to the year.