Media Digest 6/23/2006
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(FD)(MRK)(PFE)(PCW)
According to Reuters, Oracle posted higher quarterly profits on better than anticipated software sales. The company also said it was taking share from competitors SAP and IBM. In the company's fiscal fourth quarter reported yesterday net income rose to $1.3 billion from $1 billion in the same period a year ago. Revenue rose 25% to $4.9 billion.
Reuters also writes that Associated British Ports has accepted a purchase bid from a group lead by Goldman Sachs. The final price was $5.15 billion.
Reuters writes that the CEO of Pier 1 told shareholders that the company would not be adding or replacing management because poor financial results The company's slump has made it difficut to retain or add new senior level employees.
Reuters writes that Chrysler is considering deep discounts to bring in new car buyers even as it launches its new Sebring mid-sized car.
The Wall Street Journal writes that bidding for Univision assets has gotten off schedule as biddders like Televisa, another media company, try to line up financing.
The WSJ says that the UAW announced that 37,000 workers have accepted buy-outs from GM and Delphi.
The WSJ also writes that Google has begun streaming free movies and TV shows supported by commercials.
WSJ also writes that Qualcomm has launched a public relations attack on Intel for its tactics in industry-standard setting for the next generation of wireless technology.
WSJ also reports that Federated Stores has agreed to sell its Lord & Taylor retail operation to NRDC Partners for $1.2 billion.
The New York Times reports that Merck is losing its patent proctection for cholesterol drug Zocor which will allow generic drugs to compete with the medication. The result will be the lose of billions of dollars in revenue for the company, and possibly for Pfizer which make the competing drug Lipitor.
The NYTimes also reports that a number of companies and private equities firms are considering bidding for the assets of Chinese media and telecom company PCCW.
Douglas A. McIntyre
(FD)(MRK)(PFE)(PCW)
According to Reuters, Oracle posted higher quarterly profits on better than anticipated software sales. The company also said it was taking share from competitors SAP and IBM. In the company's fiscal fourth quarter reported yesterday net income rose to $1.3 billion from $1 billion in the same period a year ago. Revenue rose 25% to $4.9 billion.
Reuters also writes that Associated British Ports has accepted a purchase bid from a group lead by Goldman Sachs. The final price was $5.15 billion.
Reuters writes that the CEO of Pier 1 told shareholders that the company would not be adding or replacing management because poor financial results The company's slump has made it difficut to retain or add new senior level employees.
Reuters writes that Chrysler is considering deep discounts to bring in new car buyers even as it launches its new Sebring mid-sized car.
The Wall Street Journal writes that bidding for Univision assets has gotten off schedule as biddders like Televisa, another media company, try to line up financing.
The WSJ says that the UAW announced that 37,000 workers have accepted buy-outs from GM and Delphi.
The WSJ also writes that Google has begun streaming free movies and TV shows supported by commercials.
WSJ also writes that Qualcomm has launched a public relations attack on Intel for its tactics in industry-standard setting for the next generation of wireless technology.
WSJ also reports that Federated Stores has agreed to sell its Lord & Taylor retail operation to NRDC Partners for $1.2 billion.
The New York Times reports that Merck is losing its patent proctection for cholesterol drug Zocor which will allow generic drugs to compete with the medication. The result will be the lose of billions of dollars in revenue for the company, and possibly for Pfizer which make the competing drug Lipitor.
The NYTimes also reports that a number of companies and private equities firms are considering bidding for the assets of Chinese media and telecom company PCCW.
Douglas A. McIntyre
posted by douglas mcintyre at 4:26 AM
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