Tech: Groupon Inc Extends Fall (GRPN, NOK, CVX, LPHI, BTH)

Tech: Groupon Inc Extends Fall (GRPN, NOK, CVX, LPHI, BTH)

Groupon Inc (NASDAQ:GRPN) decreased 3.21% to $4.67 on a traded volume of 866k shares. The Company is introducing a credit-card reader to vie with products offered by Square Inc and EBay Inc’s PayPal service and boost revenue from small businesses. The Company will charge U.S. merchants that use its coupons lower fees than Square and PayPal. The firm is the largest daily- deals website.

Nokia Corporation (ADR) (NYSE:NOK) moved down 4.81% to $2.57. According to report from SIX, Nokia Oyj has decided to make 75% of the employees in the Company’s factory in South Korea redundant. According to report from Reuters, Nokia Siemens Networks has decided to move ahead with its restructuring faster than expected. The Company is in the middle of a cost-cutting plan, which includes laying off a quarter of its staff and selling product lines to focus on mobile broadband. The restructuring should result in more than EUR 1 billion in cost savings by the end of 2013. Nokia Siemens Networks is a joint venture between Nokia Oyj and Siemens AG.

Chevron Corporation (NYSE:CVX) went down 0.31% to $116.56. Chevron Corporation announced a natural gas drilling success by its Australian subsidiary in the Greater Gorgon Area. This area is located in the Carnarvon Basin, a premier hydrocarbon basin. The Satyr-2 exploration discovery well confirmed approximately 128 feet of net gas pay.

Life Partners Holdings Inc (NASDAQ:LPHI) among the top performers and the stock increased 88.36% to $2.76. The Company said that Travis County District Judge Stephen Yelenosky ruled that the life settlement transactions that it facilitates are not securities under Texas law. The Court denied all relief sought by Texas Attorney General Greg Abbott which includes an end to a temporary restraining order which will permit Life Partners to pay the $0.10 dividend it had previously declared to shareholders of record as of September 3, 2012.

Blyth Inc (NYSE:BTH) among the losers and the stock declined 16.98% to $26.97 on a traded volume of 1.57 million shares. ViSalus, subsidiary of Blyth Inc withdrew its Initial Public Offering due to uncertain market conditions. Blyth management supports fully this decision.