LEADING THE DAY: Amazon offered a technical explanation of what happened during its server outage and apologized to its customers. The company said it will issue a ten-day credit to all customers affected by the outage, which began last Thursday.

Samsung files U.S. suit against Apple: Samsung has filed a U.S. countersuit against Apple, one week after filing similar lawsuits in South Korea, Japan and Germany. Bloomberg reported that the case, filed with the U.S. District Court in Northern California, asks for an order to prevent Apple from using innovations Samsung claims to have patented, plus cash compensation. Earlier this month, Apple sued Samsung for patent infringement, saying the Korean company's Galaxy line copied the iPhone and iPad.

Microsoft earnings: Microsoft reported a 31 percent increase in earnings, buoyed by the Xbox and the Kinect. However, sales of Windows and PCs were down, something analysts have blamed on Apple’s iPad. Microsoft has yet to enter the tablet market and shares dipped despite earnings exceeding analyst expectations, the Associated Press reported.

RIM lowers forecast: Research in Motion cut its earnings forecast for the current quarter, saying that it’s shipping fewer cellphones than expected, at lower prices. said that BlackBerry PlayBook sales are in line with its expectations. The company said that it expects to recover in the second half of the year. The Associated Press reported that shares were down 9 percent in after-hours trading.

PayPal buys FigCard: PayPal has bought FigCard, a company that specializes in cellphone payments, intensifying competition in the mobile payments space. FigCard developed a way for customers to pay via cellphone with a smartphone app and USB device that plugs into cash registers.

Earlier this week, Visa announced that it had invested in Square, another mobile payments company.