Here at the Fool, we've searched high and low across the Web this Friday morning to find the biggest news and best stories around. Here are your top five morning reads.
1. Internet Companies Amaze
E-commerce was in the spotlight last night:
(NASDAQ:AMZN)blew away expectations and gave its investors a pre-Holiday present. Net income was up 68%, while revenue jumped 28% from last year. Shares are up over 15% shortly before the market opens. (Read more at BusinessWeek.)
(NASDAQ:NFLX)followed up on Amazon's lead, posting an earnings increase of 48% while revenue surged 24% from last year. The company also announced new plans for growth: international expansion. (Read more at MarketWatch.)
- This morning features earnings from: Schlumberger
(NYSE:SLB), which saw a revenue decline of 25% and slightly missed estimates. Honeywell (NYSE:HON)saw revenue off 17%. The company said that weakness in aerospace and transportation was offset by stronger military equipment sales. Finally, Microsoft's (NASDAQ:MSFT)might have seen sales and profits fall, but the results topped expectations, and their shares spiked up this morning. (Read more at Reuters, Yahoo! Finance, and Bloomberg.)
2. Is America's banking system a pyramid?
The Economist compares America's banking system to a massive pyramid. The top two or three firms are "doing well," but underneath lays a vast base of banks in deep trouble. (Read more at The Economist.)
3. Why do we encourage debt?
The Atlantic wonders aloud whether the country would be better off to stop subsidizing debt through tax breaks. While this policy could go a long way to helping the U.S. government's fiscal health and cut down reliance on corporate debt, it would also be especially hurtful to small businesses. (Read more at The Atlantic.)
4. Pay off your credit card, get slapped in the face?
Think you're safe from credit card fees if you're paying off your bill on time every month? Not anymore. Responding to legislation that will cap interest rates on existing credit card balances, banks are looking to find new sources of revenue. Among the ideas being tested: Bank of America
Eric Bleeker owns shares of Citigroup. eBay and Netflix are Motley Fool Stock Advisor picks. Microsoft is a Motley Fool Inside Value recommendation. Try any of our Foolish newsletters today, free for 30 days. The Motley Fool has a disclosure policy.