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Monday, July 31, 2006

WSJ Update

By Yaser Anwar, CSC of Equity Investment Ideas

AOL to Launch Portal for Videos
AOL plans an Internet video portal featuring content from both users and cable networks.

SanDisk Agrees to Buy msystems
SanDisk agreed to buy msystems for $1.55 billion in stock in the latest sign of consolidation in the flash-memory sector.

Verizon Introduces New Music-Playing Phone
Verizon Wireless will release a cellphone that plays music and resembles Apple's iPod as carriers edge into the MP3 market.

Live Nation to Buy Stake in Musictoday
Live Nation is to acquire a majority stake in Musictoday, which runs services for such acts as the Rolling Stones.

White House Will Skip Climate Talks
Blair is to meet with Schwarzenegger and a group of CEOs in California on climate change and clean energy, but Bush's top environmental adviser won't attend.

'Miami Vice' Busts 'Pirates' to No. 2
"Miami Vice" overtook "Pirates of the Caribbean" to capture the top spot at the weekend box office, taking in $25.2 million, compared to $20.5 million for "Pirates," which became Disney's highest-grossing release to date.

Faurecia Chief Is Investigated in Germany
Frankfurt prosecutors said they are investigating the CEO of car-parts firm Faurecia on suspicion he abetted corruption by covering up bribes.

Investor AB CEO Charts a Bold New Course
Sweden's Investor AB has been creating a ruckus akin to the wheeling and dealing usually associated with private-equity firms. Behind the change: Boerje Ekholm, who last year became the investment firm's new chief executive.

Sony Remains Guarded in Its Outlook
Sony remains conservative about its outlook, despite a strong fiscal first quarter on a rebound in its electronics business.

U.S. Court Upholds Ebbers Conviction
An appeals court upheld the fraud conviction and 25-year prison sentence of former WorldCom CEO Bernard Ebbers. (Court ruling)

Market Volatility Takes Investors for a Ride
Stock-market volatility could persist for at least several more weeks while investors continue to assess the Federal Reserve's strategy for fighting inflation. Share prices are ending July close to where they started.

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