At The Motley Fool, we know our readers like to be informed. We have scouted out today's most relevant news items and brought them to you all on one page. We hope you find this midday edition informative and useful.
Amazon being squeezed
In an attempt to battle Apple
The company's stock price was down 10% in intraday trading, after having already lost 4% before the closing bell yesterday. But Amazon's losses could be seen as preparation for a much brighter future, as the company builds more infrastructure to support its Web services. Read more at Bloomberg.
RIM delays
Research In Motion
The industry was closely following the new upgrade in hopes that it would allow customers to access their email without having a BlackBerry phone in hand. The company said in a blog post it would rather wait to make sure it was delivering the best product than launching it at the expected date. Company executives also said BBM, the instant messaging feature already seen in BlackBerrys, would not be included in the tablet until a later upgraded version. Read more at The Wall Street Journal.
Ford records lower profit
Carmaker Ford
Groupon's hunger
Groupon is asking for an initial public offering five times its predicted sales. The price was set based on the prediction that Groupon will make $2.1 billion in sales next year. At the proposed $17 per share, the company would be valued at $10.8 billion. The IPO offer will also value the company at 11 times higher than the projected EBITDA (earnings before interest, taxes, depreciation, and amortization) for 2013. The online coupon company hopes to raise $540 million by selling 30 million shares of common class A stock. Groupon and its underwriters are meeting with buyers and plan to complete the offering by Nov. 3. Read more at Bloomberg.
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