Media Digest 7/22/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Apple (AAPL) missed Wall St. expectations, sending the stock down by 10%.

Reuters reports that American Express (AXP) profits fell on credit losses.

Reuters writes that wide-spread earnings problems reflect consumer fears.

Reuters reports that Yahoo! (YHOO) and Carl Icahn settled their differences but no progress on a deal with Microsoft (MSFT) has been made.

Reuters reports that shares of PC company Lenovo fell on a broker downgrade.

Reuters writes that Merck’s (MRK) cholesterol fighter Vytorin failed to make key goal in drug trials.

The Wall Street Journal reports that GM (GM) and large untilities will unit to design plug-in cars.

The Wall Street Journal writes that the book of Fannie Mae (FNM) and Freddie Mac (FRE) are being examined by the Fed and the Office of the Comptroller of the Currency.

The Wall Street Journal reports that Ericsson’s (ERIC) net dropped sharply.

The Wall Street Journal writes that Time Warner Cable (TWC) and Verizon (VZ) are beginning a battle for TV viewers in New York City.

The Wall Street Journal writes that Comcast (CMCSA) will handle web video functions for several other cable companies.

The Wall Street Journal reports that regional banks may post weak earnings.

The Wall Street Journal reports that short sellers often move into stocks just before CEOs sell shares.

The Wall Street Journal reports that profits fell at Boston Scientific (BSX)

The Wall Street Journal reports that TI’s (TXN) net fell on falling chip demand.

The New York Times writes that Ford (F) will sharply shift its focus to building smaller cars.

The New York Times reports that Tivo (TIVO) and Amazon (AMZN) are teaming up to allow consumers to buy products that they see in TV shows.

The New York Times reports that high travel costs are leading to more virtual meetings.

The FT writes that the Fed is focusing on inflation over growth issues.

Bloomberg reports that Vodafone (VOD) cut back its sales forecasts.

Bloomberg writes that sales in Europe may help McDonald’s (MCD) earnings.

Douglas A. McIntyre