American Stock Exchange
2488.89 down 1.26
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Oil prices keep falling and Groupon tries to win over small businesses with its latest innovation. Here's the Bloomberg After The Bell Report for Wednesday.
Crude oil dropped to a six-week low, dipping below $92 a barrel after inventories surged the most since March and production and imports bounce back from the effects of Hurricane Isaac. Stocks closed higher thanks in part to sales of existing homes climbing to the highest level in two years.
Discount deal maker Groupon is rolling out a credit card reader to take on Square and PayPal. The company's new Groupon payments service is meant to provide retailers with a lower-cost alternative to costly credit card transactions. Groupon is trying to find new sources of revenue as demand for its daily deals is falling.
Facebook shares rose to the highest price in seven weeks after the company said it's testing a service to place ads on mobile apps other than its own, following in the footsteps of competitors Google and Apple.