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 in one page. We hope you find this midday edition informative and useful.
SEC not buying into Groupon
With weeks before it hits the market, Groupon is facing tough questions from the Securities and Exchange Commission. The agency is asking the company to explain some of its never-before-seen accounting metrics. In its regulatory filings, Groupon highlighted a measure called "adjusted consolidated segment operating income." Experts say this method draws attention away from marketing costs, the company's biggest expenditure.
With a new trend of unprofitable tech IPOs, the SEC worries that another tech bubble is brewing. Internet radio company Pandora Media debuted on the market despite big losses, citing new measures such as total listener hours and total registered users as key metrics of growth. Read more at The Wall Street Journal.
Credit Suisse slashing 2,000 jobs
After a disappointing second quarter with a $958 million decrease in net income, Credit Suisse
Credit Suisse's earnings report came days after UBS
Slams dunk Dunkin Brands
With an IPO based on pastries, ice cream, and coffee, Dunkin' Brands
Dunkin' Brands, which makes its money mainly through franchising, has the potential to grow in the West, where it has only 109 outlets; competitors Starbucks
Jobless claims drop to three-month low
Jobless claims in the U.S. fell to their lowest point in three months, to 398,000 in the week ended July 23. The number was lower than forecasted, but there were no specific factors associated with the drop except for the usual volatility. Though the lower number seems encouraging, higher rates of hiring will be crucial to lower unemployment, which will probably continue to hover around 9%.
In addition, major companies have announced layoffs, including Lockheed Martin
Shell and Exxon report strong earnings
Oil companies ExxonMobil
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 the story. The Motley Fool owns shares of Lockheed Martin and Starbucks. Motley Fool newsletter services have recommended buying shares of McDonald's and Starbucks. 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.