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Tuesday, October 24, 2006

Media Digest 10/24/2006 Reuters, Wall Street Journal, New York Times


According to Reuters, earnings at BP rose 53% to almost $7 billion on asset sales. The core operating business underperformed analyst estimates.

Reuters writes that Sony will not exit the PC battery business despite massive recalls due to faulty products.

Reuters writes that IBM has sued over several patents that it claims the large online store uses in its major businesses.

The Wall Street Journal writes that Wal-Mart intends to cut its expansion next year and curb capital spending. The news sent the big retailer's shares up almost 4%.

The Wall Street Journal also reports that Ford lost $5.8 billion in the last quarter, and expects further loses in upcoming quarters.

The Wall Street Journal also writes that a medical study shows that drug-coated stents manufactured by Johnson & Johnson and Boston Scientific have risks of developing clots months later than traditional metal stents.

The Wall Street Journal also reports that Kraft's earnings rose 11% to $748 million.

The Wall Street Journal also writes that Texas Instrument's net rose 11% but the big chip maker said sales would slow in the next quarter.

The New York Times reports that Google will launch a customized version of its search technology to be used at blogs and websites. Yahoo! already has a similar product.

Douglas A. McIntyre

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