Tech Business Rewind: Groupon RIDES Amazon’s Results, Nokia REBOUNDS
Groupon, Inc. (NASDAQ:GRPN) and eBay, Inc. (NASDAQ:EBAY) shares take advantage of Amazon’s stellar second quarter report on Friday, perhaps getting fuel from Amazon’s impressive sales of 3rd-party merchandise, much of which is sold by small businesses. Groupon is being heavily shorted, and has been beaten down in recent weeks on a list of worries, along with poor analyst commentary.
Improving European markets are said to be helping Nokia Corporation (NYSE:NOK) rally more than 20 percent this week as value investors are betting that the firm can become stable. A website in China recently reported that Nokia will reveal two Windows Phone 8 models at its Sep. 5th Nokia World event, and its also rumored that Nokia WP8 devices could go on sale soon afterwards.
Research In Motion Limited (NASDAQ:RIMM) shares closed up more than 5 percent on the day, possibly due to the top-line beat posted by contract manufacturer Celestica’s (NYSE:CLS) second quarter results. Celestica is fading out its RIM business, but in the second quarter, RIM comprised 17 percent of Celestica’s sales. That number is a bit down from 19 percent in the first quarter, but better than some observers might have feared.
Don’t Miss: Samsung is OUTSELLING Apple.
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