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Thursday, August 03, 2006

Media Digest 3/3/2006 WSJ, NYT, Reuters


According to Reuters, Merck won another Vioxx case, this time in Los Angeles. Plantiffs have claimed that the medicine causes heart attacks.

Reuters writes that Google has extended a multi-year agreement with RealNetworks and browser operation Mozilla. The companies will distribute Google's Toolbar, Real's multimedia player, and Mozilla's browser.

Reuters says that Phelps Dodge may raise its bid for Canadian nickle company Inco. The US company is in a bidding was with Teck Cominco.

Reuters said that Napster reported that the outlook for its music business was disappointing as the company lost 7% of its subscriber base. The company's focus is now on its free website.

AMD says that prices are beginning to stabilize in its discounting war with Intel. The company also said it was closer to its goal of having 30% of the world's market for microproccesors due in part to its purchase of ATI Technologies.

According to the Wall Street Journal, Ford says that it lost twice as much in the second quarter as previously announced due to pension-related losses. This took the quarterly deficit to $254 million. Ford also said its Premier Auto Group would lose money this year.

The WSJ writes that the FTC found Rambus guilty of monopolistic tactics in marketing its technology which is used in memory chips. The company's stock fell 26% on the news.

The WSJ reports that Procter & Gamble's net income of $.55 a share. Wall St. had expected earnings of $.54.

The WSJ writes that Starbuck's stock fell after hours as same-store sales rose only 4%, at the low end of expectations. The company blamed the poor showing on longer waiting times at its stores.

According to the WSJ, Cigna raised its full-year outlook and its stock rose 10%.

The New York Times reports that due to customers not paying their bills, CheckPoint posted lower than expected earnings. The company's stock fell 16%.

The NYT reports that GM says that its new pick-up trucks are critical to the company's recovery. The company is counting on sales of its Silverado and Sierra trucks to increase revenue at the company's North American unit.

Douglas A. McIntyre

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