Tech Business Rewind: Groupon RIDES Amazon’s Results, Nokia REBOUNDS

Wall St. Cheat Sheet

Groupon, Inc. and eBay, Inc. 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.

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Improving European markets are said to be helping Nokia Corporation 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 shares closed up more than 5 percent on the day, possibly due to the top-line beat posted by contract manufacturer Celestica’s 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.

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