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Wednesday, July 26, 2006

Media Digest 7/26/2006


According to Reuters, Hewlett-Packard will buy troubled business software maker Mercury Interactive for $4.5 billion.

Reuters writes that Amazon fell as much as 9% after hours on disappointed profits and a tepid forecast for the balance of the year. Expenses were higher than expected.

According to the New York Times, the Blackstone Group may try to top the existing $21 million offer to take hospital company HCA private.

The Wall Street Journal writes that the net income at Honda Motors rose 30% to $1.2 billion. The company sold 896,000 vehicles in the period ending June 30.

The Wall Street Journal also reports that Sun Microsystems had a loss in the most recent quarter. Sales rose 29% to $3.83 billion, based to some extent on revenue from companies that Sun has acquired. The company had a net loss of $301 million.

The Wall Street Journal also reports that AT&T had an 81% increase in quarterly proft, due largely to revenue increases from the SBC merger. Second quarter net income was $1.81 billion. The company said that it had strong increase in its internet business and cellular phone operations, but landline phone business continued to drop.

The New York Times reports that Pfizer will apply to regulator to sell its new heart drug, torcetrapib, as a standalone pill rather than in combination with cholesterol drug Lipitor,

The New York Times reports that Nissan posted disappointing results. The company said its operating profit fell 25.7% to $1.3 billion. The announcement was a blow to the reputation of Carlos Ghosn who is trying to create a three way partnership among GM, Renault and Nissan.

Douglas A. McIntyre

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