Media Digest (10/24/2012) Reuters, WSJ, NYT, FT, Bloomberg

Investing

Published: October 24, 2012 6:18 am

The public editor of The New York Times, the flagship of the New York Times Co. (NYSE: NYT), questions the appointment of new CEO Mark Thompson because he ran the BBC during a period in which there was a sex scandal. (Reuters)

Dow Chemical Co. (NYSE: DOW) cuts 5% of its workforce and closes 20 factories because of the poor economy. (Reuters)

The Federal Reserve will continue to buy bonds even through there are signs of an improving economy. (Reuters)

Apple Inc.’s (NASDAQ: AAPL) new mini iPad will compete with Amazon.com Inc.’s (NASDAQ: AMZN) Kindle and Google Inc.’s (NASDAQ: GOOG) Nexus 7. (Reuters)

Improvement in Facebook Inc.’s (NASDAQ: FB) mobile revenue helps drive shares higher. (Reuters)

Nintendo’s profits are weak before the release of the new Wii U. (Reuters)

Barnes & Noble Inc. (NYSE: BKS) says its credit card data base has been hacked. (Reuters)

Mel Karmazin will leave as CEO of Sirius XM Radio Inc. (NASDAQ: SIRI). (WSJ)

Zynga Inc. (NASDAQ: ZNGA) cuts 5% of staff and discontinues work on some games. (WSJ)

The Netflix Inc. (NASDAQ: NFLX) forecast of streaming customer subscribers destroys its stock price. (WSJ)

China becomes that top country in terms of foreign investing in the first half, moving it ahead of the United States for the first time. (WSJ)

Spain says low tax revenue may ruin plans to hit numbers in its new budget. (WSJ)

United Technologies Corp. (NYSE: UTX) cuts its sales forecasts. (WSJ)

Nokia Corp. (NYSE: NOK) raises nearly $1 billion in a bond offering. (WSJ)

UBS A.G. (NYSE: UBS) may make another round of job cuts. (WSJ)

U.S consumers continue to show some optimism as large companies warn about their futures. (NYT)

Some investors believe the price of the Apple’s mini iPad is too high. (FT)

SAP A.G. (NYSE: SAP) hits earnings expectations and raises forecasts because of software demand. (Bloomberg)

Douglas A. McIntyre

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