According to Reuters, Bernanke believes that subprime losses could hit $100 billion.
Reuters writes that GM (GM) closed the gap between itself and Toyota (TM) for total unit sales in Q2.
Reuters writes that Microsoft’s (MSFT) rose on improved profits from it Office division.
Reuters reports that Google’s (GOOG) net fell short of estimates.
The Wall Street Journal writes that banks raising $40 billion in buy-out debt for Chrysler and Alliance Boot has having to improve terms.
The Wall Street Journal wirtes that AMD’s (AMD) revenue rose in the most currently reported quarter.
The Wall Street Journal reports that a shareholder suit alleges that Monsters (MNST) founder was involved in back-dating options.
The Wall Street Journal also reports that Verizon Wireless has licensed Broadcom’s (BRCM) patents as a way around import prohibitions involving Qualcomm (QCOM) chips which violate its rivals patents.
The Wall Street Journal reports that heart procedures using stents have dropped sharply since January.
The New York Times writes that earnings fell at McClatchy (MNI) and Dow Jones (DJ).
FT reports that Viacom’s (VIA) controlling shareholder Sumner Redstone is pushing his daughter out as heir apparent.
Barron’s reports that Hearst has sold more shares in Local.com (LOCM).
Douglas A. McIntyre
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