News round up: Groupon, Apple Inc, Avon, Donald Trump, Dow Jones and Trinity Mirror.

Online discount voucher company Groupon Inc (NASDAQ:GRPN) saw its shares tumble more than 10pc after it revised down its results for the final quarter of 2011, admitting a "material weakness" in its internal controls over financial reporting.

The Chicago-based company made the disclosure after Wall Street closed on Friday, meaning that Monday was the first chance investors had to react to the news. Groupon cut its operating income by $30m (£19m) and its revenue by $14.3m for the three-month period after discovering it had to set aside more money to cover customer refunds.

Groupon insisted that it remains "confident in the fundamentals of our business, as our performance continues to highlight the value we provide to customers and merchants." The revisions to Groupon’s results for its first quarter as a public company are likely to rattle investors who have seen the shares fall since their float at $20 in November, writes the Telegraph.

Apple Inc

Whoever got there first knew some free publicity was going to come their way. And on Monday, Brian White, an analyst at Topeka Capital Markets, crossed the line by becoming the first Wall Street analyst to declare that Apple shares are worth $1,000.

The veteran technology analyst slapped a $1,001 price target on Apple, a verdict unlikely to hurt Topeka Capital Markets, the little-known Wall Street brokerage where he works, according to the Telegraph.

Avon

The fragrance firm behind Beyonce, Lady Gaga and David and Victoria Beckham's scents has made a bid for the troubled cosmetic giant Avon. New York-based Coty's $10bn offer comes as Avon searches for a new Chief Executive and the firm faces a wide-ranging investigation into corruption and bribery charges in its overseas business.

Coty said it had decided to make its offer public after Avon rejected its initial approach last month. […] In a statement, Avon described the bid as "opportunistic and not in the best interest" of shareholders. The company said the offer was "substantially" the same as the one it had rejected last month, the Guardian writes.

Donald Trump

A London-listed gaming company is in talks with Donald Trump to exploit the looming legalisation of online gambling in America, The Times has learnt. Trump Entertainment Resorts, in which the property mogul has a 10% stake, has been talking to 888 Holdings and other international operators with a view to securing an online poker venture as soon as regulation is introduced. New Jersey, where Trump’s Atlantic City headquarters is based, is tipped to be among the first states to pass legislation, reports the Times.

Dow Jones

The Dow Jones Industrial Average closed at its highest level since 2007 after America’s manufacturing industry managed to pick up the pace of its expansion last month. The better-than-expected showing from the country's manufacturers in March helped strengthen expectations that the wider US economy enjoyed a stronger first quarter, reports the Telegraph.

Trinity Mirror

Trinity Mirror has bowed to shareholder pressure by halving any future cash bonus for its Chief Executive Sly Bailey, but it risked investors' wrath because it will not reduce the overall size of her controversial pay package. The owner of the Daily Mirror announced the changes as the annual report showed that Ms Bailey earned £1.3m last year in pay and pension, including a £248,000 cash bonus, despite a 40% plunge in profits, the Independent writes.