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  1. Phil
    January 11th, 2012 at 10:09 am

    More on SuperValu's FQ3 report: Attributes fall off in revenue to market exits and negative same-store sales growth. Sees 2012 sales of $36.1B on a decline in same-store sales of between 2.5% and 3%. Shares -4.7% premarket. (PR) 

    China had a whopping 505M Internet users as of the end of November, claims a government agency. However, this still only represents a penetration rate of 37.7%. The number of users on microblogging platforms such as SINA's Weibo) is said to have passed 300M. In October, Barclays noted Chinese Internet users spend far more of their leisure time browsing the web than they do watching TV. (also) 

    PayPal recorded nearly $4B in mobile payments last year – up from $750M in 2010, and well above the $1.5B it expected to bring in – says a company exec. In addition to introducing popular iOS and Android apps, and supporting various third-party apps, PayPal is experimenting with NFC technology and and offline payment solutions. Parent eBay (EBAY) acquired mobile payments startup Zong in July. (previously)

    Symantec (SYMC) is the target of a lawsuit alleging it uses scare tactics to get trial users of its PC security and maintenance software (who often get the software pre-installed) into upgrading to paid versions. Symantec's security software business has been struggling with slow industry growth, and rising competition from free solutions such as Microsoft's (MSFT) Security Essentials. (previously)

    Hostess Brands files for a Chapter 11 bankruptcy in Texas, revealing in a filing that it owes creditors more than $1B. The maker of Twinkies, Ho Hos, and Ding Dongs failed to find a buyer from a list of companies that included Kraft and Campbell Soup, according to reports. – How bad does the market have to be that Hostess can't find a buyer?  



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