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Thursday, November 16, 2006

Media Digest 11/16/2006 Reuters, Wall Street Journal, New York Times

Stocks: (JNJ)(AMGN)(V)(TWX)(MSFT)(S)(MRK)(DELL)(GM)(T)

According to Reuters, VW's stock is up on speculation that Porsche could make a bid for the entire company. Porsche is already the largest shareholder.

Reuters writes that Hertz IPO raised $1.32 billion.

Reuters reports that Vivendi's profits were lifted by its video game business.

Reuters also writes that Time Warner ousted the CEO of AOL and replaced him with a high ranking executive from NBC Universal.

According to the Wall Street Journal, US Airways offered Delta $8.67 billion for the airline which is still in Chapter 11.

The Wall Street Journal writes that Dell has announced that the SEC has stepped up its investigation into the computer makers accounting practices which will cause a delay in quarterly filing from the company.

The Wall Street Journal reports that GM will name a former AT&T financial official as its chief accounting officer after a series of financial restatements at the large car maker.

The Wall Street Journal also writes that Merck has won another federal trial over the affects of its painkiller Vioxx.

The Wall Street Journal also reports that Sprint will begin to offer local search on its phones. The system will be powered by Microsoft.

The New York Times writes that high doses of anemia drugs from Johnson & Johnson and Amgen are linked to heart attacks. Sales of the two drugs total about $9 billion a year.

Douglas A. McIntyre

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