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Thursday, August 10, 2006

Media Digest 8/10/2006 Reuters, NYT, WSJ

Stocks" (WMT)(NP)(VIA)(XMSR)(N)(GOOG)(F)

According to Reuters, Alaska has launched a probe of BP activity surrounded the pipeline from Prudhoe Bay. The state believes that it may have been mislead about the safety of the line.

Reuters writes that Teck Cominco says that it is now confident that its $16.7 billion bid for Canadian nickle producer Inco will succeed.

Reuters reports that, according to filings with the SEC, that capital expenditures in its data centers and increased cash comp for employees could "crimp its finances". The move will increase the company's cost of revenue.

The WSJ writes that Alltel, the fifth largest cell phone company in the US, will offer radion channels from XM on its phones. The new service will offer 20 commercial free channels.

The WSJ writes that Comverse Technologies ex-CEO and two other employees were charged with manipulating stock options timing to enrich themselves.

The WSJ reports the Boeing remain liable for a "tainted Air Force cargo plane contract" even though the company has paid $615 million in fees to settle criminal and civil charges on the matter.

The WSJ reports that Ford will add to its cost cutting and accelerate the current plan to cut 30,000 jobs. Ford said it would introduce nine new products in the next sis months.

The WSJ said Toll Brothers experience at 47% decline in orders for new homes blaming an oversupply in inventory and dropping consumer confidence.

AIG reported a 29% drop in earnings due in part to problems in Japan. Profits fell to $3.18 billion, according to the WSJ.

The WSJ reports that Viacom's net profit rose 24% to $437 million based on strong results at its cable TV networks and its DreamWorks acquisition.

The New York Times reports that Wal-Mart will unionize all of it stores in China.

Douglas A. McIntyre

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