Media Digest (10/19/2012) Reuters, WSJ, NYT, FT, Bloomberg

The European Union summit helps to lower bond yields for Spain and Italy. (Reuters)

Google Inc.’s (NASDAQ: GOOG) shares drop badly after releases earnings early and it misses numbers. (Reuters)

Microsoft Corp. (NASDAQ: MSFT) posts lackluster results as the market prepares for the Windows 8 launch. (Reuters)

The European Union agrees on having a single bank supervisor. (WSJ)

Facebook Inc. (NASDAQ: FB) increases efforts to move into the huge Indian market. (WSJ)

Wireless unit drives Verizon Communications Inc. (NYSE: VZ) profits higher. (WSJ)

Google releases a $249 Chrome-based laptop. (WSJ)

Accumulation of debt by companies helps them raise dividends. (WSJ)

Blackstone Group L.P. (NYSE: BX) now has $200 billion of assets under management. (WSJ)

Sprint Nextel Corp. (NYSE: S) will take control of Clearwire Corp. (NASDAQ: CLWR) for access to its spectrum. (NYT)

Yahoo! Inc. (NASDAQ: YHOO) may leave South Korea. (NYT)

Advanced Micro Devices Inc. (NYSE: AMD) lays off 15% of its staff. (NYT)

Sprint will not use Huawei Technologies products after the U.S. probe of the Chinese company. (FT)

Tesco and Wal-Mart Stores Inc. (NYSE: WMT) sales in China are hurt as people turn to local retailers. (Bloomberg)

Volkwagen profits are hurt finally — by Europe results. (Bloomberg)

Douglas A. McIntyre