Tech Business Review: RIM Has GOOD News, Groupon CRASHES
These were Tuesday’s top stories:
Micron Technology, Inc. (NASDAQ:MU) will have to up its bid for the bankrupt Elpida Memory if the latter’s bondholders have their way. A group of the holders has offered to lend Elpida ¥30 billion, or $383 million, in an alternative restructuring plan for the firm as they attempt to drive Micron to raise its bid for the firm. So far, Micron has offered to acquire Elpida’s equity for ¥60 billion and to pay its creditors ¥140 billion, although they currently value the company at more than ¥300 billion.
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Research In Motion Limited (NASDAQ:RIMM) Chief Executive Thorsten Heins announced on Monday that his firm will soon be able to license its new Blackberry 10 OS to other phone makers. Investors seem pleased with the idea, considering that shares moved up last week on chatter that Samsung (SSNLF.PK) might license the device. Additionally, Heins wants to extend the company’s scope beyond phones and tablets to other areas of mobile computing.
Shares of Groupon, Inc. (NASDAQ:GRPN) lose a quarter of their value Tuesday on word that the firm missed its second quarter revenue estimates and reported disappointing billings because of international weakness. The claim that sub-par technology was blamed in areas such as deal personalization and mobile for some of its European woes didn’t quite take, as four firms including Benchmark downgraded. For its part, Benchmark argues that “the daily deal business has run into a wall.”
Don’t Miss: Groupon Stuck in Death Spiral.
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