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News Digest 12/25/2007 Reuters, WSJ, NYTimes, FT, Barron’s

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By Douglas A. McIntyre Published
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According to Reuters, Merrill Lynch (MER) raised enough money to increase its capital by $5.7 billion.

Reuters writes that US shoppers came out in strength over the "Super Saturday" weekend. Sales on Saturday rose almost 8%.

Reuters reports that Toyota (TM) is likely to cement its position as the top car company in the world during 2008, pulling away from GM (GM).

Reuters reports that Target (TGT) cut same-store sales estimates for December.

Reuters reports that Wyeth (WYE) will cut its costs now that a generic version of its big seller Protonix is coming to market.

According to The Wall Street Journal research firm iSuppli Corp has cut its 2008 expections of global semiconductor sales from 9.3% to 7.5% due to a slowing economy.

The New York Times writes that Pershing Square Capital Management has increased it stake in Target (TGT) hoping to force the retailer into actions to increase its share price.

According to Barron’s Caris & Co raised it price target on Intel (INTC) to $29 based on rising PC sales.

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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