Apple is expected to reveal the new tablet at an invitation-only event in San Jose. The iPad Mini is expected to be a smaller, less expensive version of the iPad, made in an effort to stave off competition by Amazon (AMZN) and Google (GOOG), both of which have tablets cheaper than the iPad on the market. While some analysts have noted the move could hurt Apple's margins, it could also take away sales from its rivals.
The iPad Mini is expected to have a 7.85-inch screen and be thinner and lighter than its predecessors. Many believe the tablet will come in under $400.
Apple has sold over 84 million iPads so far. Its 9.7-inch iPad starts at $499, while its iPad 2 sells for $399.
DuPont (DD)is trending as the chemical company announced it plans to cut 1,500 jobs, or 2% of its work force as part of a cost-cutting plan. DuPont said the cuts will take place worldwide over the next 12 months to 18 months. The company hopes to trim costs by $450 million. The company also announced a larger-than-expected drop in operating earnings in the third quarter and guided lower for the full year. DuPont reported net income of $10 million, or a penny per share. Excluding items, the company earned 44 cents per share, below estimates of 46 cents per share. The company now expects 2012 earnings to range from $3.25 to $3.30 per share excluding items, compared to earnings of $3.55 per share last year. The company announced in August it is selling its performance coatings business to Carlyle Group for $4.9 billion.
Target (TGT) is another popular search. The discount retailer has agreed to sell its $5.9 billion credit card portfolio to TD Bank Group. TD Bank will pay an amount equal to the gross value of the outstanding receivables when the deal closes. The companies also agreed to a seven-year agreement which stipulates that TD will underwrite, fund and own future Target credit card and Target Visa receivables in the U.S.
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