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Thursday, August 17, 2006

Media Digest 8/17/2006 Reuters, NYT, WSJ

Stocks: (HPQ)(DISH)(DTV)(DELL)(S)

Accoding to Reuters, Hewlett-Packard's quarterly profits topped Wall St. expectations. The company accounced a $6 billion share buyback. Revenue rose over 5% to nearly $22 billion.

US digital radio is intending to upgrade many cars by offering high definition radio for normal stereos and those from satellite radion companies, according to Reuters.

The WSJ says that a recent study suggests that cable TV companies may have to upgrade their systems to compete with new fiber pipes from telephone companies. The upgrades could cost billions of dollars.

Echostar and DirecTV dropped out of the US goverment auction for radio spectrum putting them in a position to find other alternatives for wireless internet, according to the WSJ

Boeing will end production of it C-17 cargo planes due to a lack of orders from the US military, writes the WSJ

Dell's business for students returning to school may be hurt by the recall of 4 million batteries that can overheat or catch fire, the WSJ also reports.

The NYT writes that raider Leon Peltz has gotten two seats on the Heinz board, setting up a showdown about the futuer of the company.

The NYT reports that since its merger with Nextel, Sprint's stock has dropped a third since April, subscriber growth has slowed, and Wall St. views the integration of the two companies as having been poorly handled.

Carl Icahn, who increased his ownership of TimeWarner, intends to try to influence the company through a new fund for which he plans to raise money.

Douglas A. McIntyre

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