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Media Digest 5/18/2007 Reuters, WSJ, NYTimes, FT, Barron’s

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By Douglas A. McIntyre Published
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According to Reuters, profits at British Airways (BAB) dropped 18%.

Reuters writes that DaimlerChrysler (DCX) will sharply reduce its debt after the sale of Chrysler.

Reuters also reports that JC Penny (JCP) profirts rose sharply taking the company’s shares higher.

Reurters also writes that Marvell (MRVL) reported revenue below Wall St. estimates.

The Wall Street Journal reports that GE (GE) is close to selling its plastics unit to Saudi Basic Industries for $11 billion. The price is more than expected.

The Wall Street Journal also reports that Alliant Techsystems won a government contract to develop precision-guided artillery shells

The WSJ also reports that profits at Intuit (INTU) rose 23% due to sales during tax season.

The WSJ also writes that IBM (IBM) "expects to find enough cost cuts, acquisitions and stock-buyback opportunities that annual earnings per share could nearly double by 2010."

According to The New York Times, the Nintendo Wii sold 460,000 units in the US during April, Microsoft (MSFT) Xbox 360 sold 174,000 units and Sony (SNE) PS3 sold 82,000.

FT says IBM claims it will "derive half of its profits from software and double its revenues in emerging markets to $9bn by the end of the decade"

Barron’s writes that Autodesk’s (ADSK) forecasts for the next quarter topped Wall St. estimates.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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