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Thursday, July 20, 2006

WSJ Tech Update

By Yaser Anwar, CSC of Equity Investment Ideas

Yahoo's Ad Delay Could Boost Google's Lead
Yahoo shares tumbled 22%, their biggest-ever percentage drop, after the company said it would delay search-ad improvements.

Bush Vetoes Stem-Cell Bill
Bush exercised the first veto of his presidency to bar expanded stem-cell research funding, posing with "snowflake families" that use adoptions to prevent discarding of frozen fertility-clinic embryos.

Motorola Earnings Surge by 48%
Motorola's profit jumped 48% as its share of the global handset market grew on strong sales of its flagship Razr cellphone.

U.S. Consumer Prices Climb 0.2%
U.S. Consumer prices increased 0.2% despite the first decline in energy prices since February. The core figure, which excludes food and energy items, rose a more-than-expected 0.3%. Separately, housing starts fell in June.

Apple's Net Jumps on iPod Demand
Apple's profit jumped 48%, boosted by iPod shipments, which topped eight million, and higher sales of Mac computers. Shares rallied 8% in late trading.

Top 3 U.S. Banks Seek Organic Growth
Bank of America's net rose 18% and J.P. Morgan's profit more than tripled. Big U.S. banks are now pursuing "organic" growth.

BMW to Name New CEO
BMW is expected to announce that manufacturing head Norbert Reithofer will succeed Helmut Panke as CEO.

EU Panel Refers France to Court
France faces legal action in the EU's high court for failing to recover some €1 billion in state aid from France Telecom.

Intel's Profit, Revenue Fall
Intel's profit shrank 57% as the chip giant took a hit for stock-option expenses and coped with stiff competition from rival AMD. Revenue fell 13%.

H-P Gains on Dell for Primacy in PCs
H-P closed in on Dell's lead in the PC market, as global PC shipments rose 9.5%.

J.P. Morgan, IBM Help Propel U.S. Stocks
The Dow industrials powered to its second-biggest gain of the year, energized by J.P. Morgan, IBM and Wal-Mart. But Yahoo proved that a rising tide doesn't lift all boats, by marking its biggest decline ever.

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