Today Amazon (NASDAQ:AMZN) launched its new 7-inch e-reader, Kindle Fire, as well as its own web browser, Amazon Silk, which will use Amazon’s EC2 infrastructure to offload processing on the new Kindle. The company will also add a touchscreen model to its traditional Kindle line, called the Kindle Touch. A Wi-Fi-only version will sell for $99, while a 3G version will cost $149, and offer lifetime wireless data in 100 countries.Amazon will also roll out a $79 version of its traditional Kindle. Until now, the cheapest Kindle sold for $114.
Hot Feature: Amazon Kindle Fire Revealed, Stock Up 3.75%
Barnes & Noble (NYSE:BKS) is trading lower today after Amazon launched the Kindle Fire, competition for Barnes & Noble’s e-reader, Nook, in terms of both price and features. The cheapest Nook sells for $139.
With the risk of “mass exodus” apparently moderating, according to Piper Jaffray, Netflix (NASDAQ:NFLX) shares are moving upward.
Analog chipmaker Avago Technologies (NASDAQ:AVGO) is trading lower after announcing its one-time private equity owners will be selling at least 15 million shares in a secondary offering.
Microsoft (NASDAQ:MSFT) and Samsung have signed an agreement that will result in Microsoft receiving royalties on Samsung’s Android sales while the companies partner to develop and market Windows Phone.
Apple (NASDAQ:AAPL) is reportedly considering killing off the iPod Classic and Shuffle by year’s end. iPod products accounted for only 6.5% of the company’s revenue during the last quarter, with sales declining 14%.
Cable providers are working on a plan that would allow customers to subscribe to individual channels rather than bundled packages with many channels they may not watch. The move makes sense to cable providers, who have been losing subscribers to cheaper services like Netflix (NASDAQ:NFLX) or Hulu (NASDAQ:CMCSA), but cable network owners like Disney (NYSE:DIS) and Time Warner (NYSE:TWX) are fiercely opposed to the idea, which will only serve to decrease subscriptions for individual channels. Disney reportedly gets $4/month per subscriber for ESPN alone.
Best Buy (NYSE:BBY) has announced that it will hire just 15,000 seasonal workers this holiday season, compared to 29,000 last year. The company isn’t expecting “a meaningful move in the economic environment” said CEO Brian Dunn.
Nike (NYSE:NKE) is setting up a venture capital division that will back green-tech companies and startups, hoping that new sources of energy and sustainability may be able to improve its own production.
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Groupon has launched a new product, Groupon Reward, designed to track consumer spending and give merchants an easy way to reward loyal customers. The program allows customers to unlock perks after spending a certain amount of money at participating businesses.
TE Connectivity’s (NYSE:TEL) board has authorized a $1.5 billion stock buyback, increasing its quarterly dividend payout from $0.18 per share to $0.21