According to Reuters, Goldman Sachs (GS) issued a report saying the housing sector had much further to fall and that some financial institutions would have to raise money to stay in business. The report listed MBIA (MBI), Ambac (ABK), Security Capital Assurance (SCA), and Assured Guaranty  (AGO) as "desperate" and Citigroup (C) and Washington Mutual (WM) as "needy".

Reuters writes that HP (HPQ) rode big sales in laptops to a record quarter.

The Wall Street Journal writes that United Rentals sued Cerberus over a broken takeover.

The Wall Street Journal writes that Pfuzer (PFE) won a key court case that may block some suits over whether its drug Celebrex caused heart problems.

The Wall Street Journal writes the GOP members of Congress are attacking an FCC plan to block cable expansion.

The Wall Street Journal writes that the Nasdaq is trying to take some companies away from the NYSE.

The New York Times writes that US company sales overseas may keep the US economy from falling into recession.

The New York Times writes that employess at CBS News (CBS) have voted to strike.

The FT writes that China has voiced alarm at the price of the US dollar.

Barron’s writes that shares of Echostar (DISH) fell when a reported indicated that the company would not be bought by AT&T (T).

Douglas A. McIntyre

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