Apple Sells Refurbished Products, Elpida Bondholders Win: Tech Business Update

It appears that Apple (NASDAQ:AAPL) is running refurbished products up the proverbial flagpole to see if any buyers salute as it has contrived to sell them directly to shoppers through eBay (NASDAQ:EBAY). Although there are no comments from the latter, “Refurbished Outlet” is thought to be a store run by Apple within eBay as a trial run. Thus far, the store has been awarded a 99.7 percent positive from reviewers.

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Disquieted bondholders of the bankrupt Elpida won a small battle Friday in a decision by Judge Christopher Sontchi, who said that he will re-review patent deals that the company reached with the United States firm Rambus (NASDAQ:RMBS) as a prelude to Elpida being sold to Micron Technology (NASDAQ:MU) for $2.5 billion.

Shares of Groupon (NASDAQ:GRPN) were up more than 8 percent in late afternoon trading, following word that Tiger Global Management purchased a 9.9 percent interest in the company. The latter is an $8 billion hedge fund managed by Chase Coleman and Feroz Dewan. This move signals confidence that Groupon, whose shares have slumped by 80 percent since its November 2011 IPO, might discover new channels for growth.

Investing Insights: This Top Hedge Fund Thinks Groupon is a Buy.