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.
RIM's bad timing
Research in Motion
RIM has been recently fighting off pressures to shake up the company's management, while moving all of its devices to a new operating system. On the other hand, Apple announced it had received a record-setting million pre-orders for the new phone. Read more at Bloomberg.
Closing the Gap
As consumers shop less, or move to online shopping, retailer Gap
The company will now shift its efforts to expand to newer markets such as China. The retailer's woes came from a saturation of the market that became visible during the recession. Gap has also been unable to produce a compelling line or style and missed certain trends. The closings come at a time when mall owners have been dealing with mounting numbers of empty storefronts. Read more at The Wall Street Journal.
Google has nearly 100-percent control over mobile search and is investing heavily in its mobile ads. Google's earnings appeased those who believed that because more searches were being done on mobile devices ad revenue would be smaller. People are less likely to click on mobile ads, which are smaller and cheaper than other ad formats. But, Google seems to grow on all fronts as its computer-based search ad revenue continues to chug along. Read more at The New York Times.
Netflix pays up
After a failed attempt to divide its business, and after instituting an unpopular price increase, Netflix
This is the first time Netflix signed a deal of this size with CBS. The deal is an addition to other expensive agreements on record. Last month the company signed deals with Dreamworks and Discovery Communications to offset losing deals with other networks like the Starz channel. The deal will help the owners of the CW offset its losses. CW has been losing up to $50 million as many of its users -- a young audience -- watch their shows on the Internet. Read more at The Wall Street Journal.
So there you have it, the top financial stories for this afternoon. If you are interested in getting all the news and commentary on these stocks sign up to My Watchlist here its free!
Michelle Zayed doesn’t own any stocks mentioned. The Motley Fool owns shares of Apple, Gap, and Google. Motley Fool newsletter services have recommended buying shares of Google, Apple, and Netflix. 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.