Afternoon Roundup: Today's Top Stories
At The Motley Fool, we know our readers like to be informed. Here's a quick look at today's most relevant financial news, boiled down to what you need to know.
Groupon sets IPO
Daily deals site Groupon (NAS: GRPN) opened 40% above its IPO price of $20 a share. It has been a wild ride for the Chicago-based company since first filing for an IPO back in June. From concerns about the profitability of Groupon's business model to unorthodox accounting practices, the jump in its share price proves demand for the stock's offering is strong. Read the full story atThe Wall Street Journal.
Starbucks gains on strong sales trends
Despite the tough economy, the coffee company's fourth-quarter profit popped, with an increase of 29% in net income. Starbucks (NAS: SBUX) CEO Howard Schultz attributes the strong quarter to a number of things, including value brought by the company's rewards program, mobile initiatives, and operational excellence. Read the full story atBloomberg.
Is Google the new cable?
Internet giant Google (NAS: GOOG) has its hand in everything these days. Google's latest plans may include an expansion of a high-speed Internet development project to provide paid cable television services to customers.
This move puts Google in direct competition with cable and satellite operators such as Comcast (NAS: CMCSK) . Google also faces opposition from Apple (NAS: AAPL) and Amazon.com (NAS: AMZN) , which both offer digital content and devices for viewing that content outside of traditional television sets. Read the full story atThe Wall Street Journal.
That's a wrap
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 --it's free!
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At the time this article was published Fool contributor Tamara Rutter owns shares of Apple. Follow her on Twitter @TamaraRutter. The Motley Fool owns shares of Google, Apple, and Starbucks. Motley Fool newsletter services have recommended buying shares of Amazon.com, Google, Starbucks, and Apple, as well as 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.
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