- The United States Postal Service announced steps Monday to eliminate its next-day delivery of First Class mail in an effort to avoid bankruptcy in 2012.
- The interface will be available on Tuesday.
- Netflix, the online DVD rental firm, is in trouble as it is losing subscribers since it raised its prices in September, a move that will force it to spend more on marketing and report a loss in 2012, triggering investor concerns over its business model.
- If this is the year of the e-reader, then you might be wondering what the difference is between these two devices beyond the $50 price tag. The big difference is in the hardware. You get a faster processor with more memory, a better battery and more on board storage on the Nook Tablet.
Market Update: Dow, S&P Up on Positive Consumer Confidence Report, NASDAQ Down on Declining Tech StocksAt mid-day Tuesday, the Dow Jones Industrial Average rose 65.47 points to 11,588.48, up 0.57 percent from the previous session's close. The benchmark S&P 500 Index was at 1,198.66 points, up 6.11, or 0.51 percent. The NASDAQ index was down 0.28 percent, or 7.10 points, to 2,520.24.
- The top pre-market NASDAQ Stock Market gainers are: Magal Security Systems, Seagate Technology, Central European Distribution, Onyx Pharmaceuticals, Randgold Resources, and Research In Motion. The top pre-market NASDAQ Stock Market losers are: Tellabs, ASML Holding, Netflix, and Microsoft.
- S&P cut the credit rating of the Los Gatos, Calif.-based company to BB- from BB. Its outlook remains stable.
- The top pre-market NASDAQ stock market gainers are: Melco Crown Entertainment, Amarin, DryShips, Micron Technology, Netflix, Dendreon, SodaStream International, and Green Mountain Coffee Roasters. The top pre-market NASDAQ stock market losers are: Randgold Resources, and Global Industries.
Amazon: Best Black Friday Ever for Kindle Family, Kindle Fire Bestselling Product for 8 Weeks RunningAmazon Inc. has announced that this Black Friday was the best ever for the Kindle family, as the Kindle Fire remained the bestselling product since its introduction 8 weeks ago.
- Stocks posted seven straight sessions of losses on Friday, ending the worst week in two months, as the lack of a credible solution to Europe's debt crisis kept investors away from risky assets.
- A multi-million-dollar class action lawsuit against Netflix and Walmart that alleged the two companies had conspired to carve up the DVD rental and sales market between them has been dismissed.
- A U.S. judge granted Netflix's bid to resolve all claims in its favor before trial in an antitrust class action, in which plaintiffs had sought hundreds of millions of dollars in damages.
- The top pre-market NASDAQ Stock Market gainers are: Yahoo, ASML Holding, Brigham Exploration, and First Solar. The top pre-market NASDAQ Stock Market losers are: Diamond Foods, Rambus, Netflix, Groupon, Central European Distribution, and Micron Technology.
- The collapse in Netflix's valuation is part of a wider wave of grievous losses being felt by shares of companies focused on virtual commerce. After riding a surge of investor enthusiasm to valuation peaks in mid-summer,companies like Netflix and Travelzoo had nowhere to go but down. Short-sellers, chomping at the bit to make bets against the stocks' heady fundamentals, are not exactly helping.
- Wedbush Securities believes Netflix Inc.'s (NASDAQ: NFLX) $400-million concurrent common stock and convertible notes financing were motivated by the company's deteriorating business performance, which in turn triggered liquidity concerns.
- The top pre-market NASDAQ Stock Market gainers are: Focus Media Holding, BSD Medical, Brocade Communications Systems, NVIDIA, and E*TRADE Financial. The top pre-market NASDAQ Stock Market losers are: Netflix, Randgold Resources, ASML Holding, Amazon.com, and Shire.