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What To Watch: September 6, 2012
From Fnno.com, this is the Financial News Network. Here's a few things to watch for in the financial world today September 5.Amazon (NASDAQ:AMZN) will hold a press event today at 1 p.m. eastern time, where it is expected to premiere its latest Kindle Fire tablet. The company may also unveil a smartphone. The company's original Kindle Fire, which Amazon CEO Jeff Bezos revealed last year, performed respectably in the tablet market, but faced some critics for its bland design, weight, and lack of basic features like volume control. The tablet that will premiere today will likely improve upon all of these criticisms, but faces a tougher tablet market. In anticipation of the event, Amazon stock is up around 1% percent to almost $250.Nokia (NYSE:NOK) unveiled two new smartphones yesterday, the Nokia Lumia 920, and the Nokia Lumia 820. The new devices were the most powerful yet from the company, with Windows Phone 8 software and the ability to charge wirelessly, but investors gave them a big thumbs down. By the time the markets closed yesterday, Nokia stock had dropped 15.9% to settle at $2.38, down from its opening price of $2.89. In today's trading, it is only continuing to plunge. Finally, The Men's Wearhouse (NASDAQ:MW) reported an improved second-quarter performance yesterday after market close. For the quarter ending July 28th, the retailer reported earnings of $59.4 million, or $1.15 a share . That's an increase from $1.09 a share a year ago. The total revenue of the retailer grew by 1 percent, to $662.3 million. Profits beat analyst expectations of $1.12 per share on revenue of $662.9 million. The good news has the company trading at a three month high, up almost 15% at $36.37. Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.
|What To Watch: September 6, 2012|
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