At The Motley Fool, we know our readers like to be informed. So we have scouted out today's most relevant news items and brought them to you all in one page. We hope you find this midday edition informative and useful.
Research In Motion to cut jobs
BlackBerry maker Research In Motion
The company, which has had problems for a while now, cut its earnings outlook for June and projected a fiscal-year profit of $5.25 to $6.00 per share, well below the original forecast of $7.50. The job cuts were described as a way to optimize operations and eliminate duplicate positions.
In addition to the cuts, the company announced that Chief Operating Officer Don Morrison, who was on medical leave, will retire after more than 10 years with the company. Read more at The Wall Street Journal.
Apple's problem in China
Technology giant Apple
Chinese stores are the most visited and sales are larger than in any U.S. store, meaning Apple has been able to position itself as a major company in China, when many other multinationals have failed. But recent discoveries of fake Apple stores may push the company to be stricter with its Chinese operations or perhaps reconsider them. Read more at The New York Times.
BP's breakup could unlock $100 billion
E*TRADE pressed to sell
Citadel LLC, E*TRADE's
E*TRADE shares rose in the morning after news of the letter was reported and talk of a possible bid by TD AMERITRADE
So there you have it, the top financial stories for this afternoon. Check Fool.com throughout the day for commentary on these and other stories. Also, follow us on Twitter, on Facebook, or through our email digests.
Michelle Zayed owns no shares of any companies mentioned in this story. The Motley Fool owns shares of Apple and JPMorgan Chase. Motley Fool newsletter services have recommended buying shares of Apple. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.