Research In Motion has turned down takeover overtures from Amazon.com and other potential buyers because the BlackBerry maker prefers to fix its problems on its own, according to people with knowledge of the situation. Amazon hired an investment bank this summer to review a potential merger with RIM, but it did not make a formal offer, said one of the sources. It is not clear whether informal discussions between Amazon and RIM ever led to specific price talk.
Seems billionaire investor Carl Icahn has had enough of managing money for outsiders. The 75-year-old stock picker dropped a bit of surprising news on Tuesday when he said he plans on returning all of his clients’ money, making him the latest in a string of investors to do so.
Check out Target already looking forward to the 2011 holiday season.The discount retailer said it is taking control of Target.com and aiming to launch its new website by the 2011 holiday season.The announcement signals the end of a relationship with online retailer Amazon.com that began in 2001.”We believe it is in Target’s best interest going forward to assume full control over the design and management of Target’s e-commerce technology platform, fulfillment and guest services operations,” Target.com President Steve Eastman said in a statement.Target had previously extended its contract with Amazon to 2011, but the companies will continue to work together during the next two years.Also in the basket:Crocs Q2 beats, sees return to profit in 2010 Blue Nile profit in-line; full-yr view tops, shrs upHhgregg Q1 profit beats Street, reaffirms outlookForget the shuttle, take a Hermes chopper to the airportSupreme Court Justice Thomas and Wife Camp Out at Wal-Mart (Foxnews.com)(Photo: Reuters)
The online retailer beat Wall Street expectations for quarterly earnings and revenue as lowered prices lured more shoppers online. It also benefited as sales of its Kindle electronic reader gained momentum.