Media Digest 4/22/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Yahoo!’s (YHOO) profit dropped 80% and it will cut 5% of staff.

Reuters reports that Chrysler bondholders offered to swap some debt for equity.

Reuters reports that Geithner says most banks are well-capitalized.

Reuters writes that a bear market still grips stock and credit markets.

Reuters writes that regional banks have been hit hard by the recession and bad loans.

Reuters reports that Nestle said sales unexpectedly dropped and it confirmed it forecast.

Reuters writes that NY City is looking into whether Rattner’s former employer misled pension funds.

Reuters writes that Orbitz is trying to improve customer loyalty with new price displays.

Reuters reports the results from Caterpiller (CAT) and United Technologies (UTX) were poor but forecasts held out some hope.

Reuters reports that Citigroup (C) elected new directors and said it would pay back TARP funds and other loans.

Reuters reports that AMD (AMD) posed a large loss and does not think the PC market has bottomed.

The Wall Street Journal reports that a number of big companies are forecasting a bottom to the economy.

The Wall Street Journal reports that banks are lobbying for better terms to exit the TARP.

The Wall Street Journal reports that a number of huge companies will fight the Obama proposal for taxation of overseas earnings.

The Wall Street Journal reports that a drop in retail sales in the UK is causing more concerns.

The Wall Street Journal reports that Japan’s trade balance swung to a deficit.

The Wall Street Journal reports that banks will begin to get “stress test” results and will begin to debate conclusions before the government releases them

The Wall Street Journal reports that the fate of Sun’s (JAVA) software is still open.

The Wall Street Journal reports that Martha Stewart (MSO) changed top management.

The Wall Street Journal says that some economists told lawmakers to break up big banks.

The Wall Street Journal reports that Japan’s three biggest banks are bidding for a Citigroup (C) unit based there.

The Wall Street Journal writes that there is a debate about why cheaper oil is not helping the US economy.

The Wall Street Journal reports that mobile phone penetration in China is only 50% but the market is maturing.

The Wall Street Journal reports that Delta’s (DAL) results offered modest hope about the travel industry.

The Wall Street Journal reports that the Coke (KO) CEO defended his company’s bottling system

The Wall Street Journal reports that The New York Times (NYT) posted a large loss and falling ad revenue.

The New York Times reports that GM (GM) is still a driving force in the China auto industry.

The New York Times reports that Genentech says the drug Avastin failed to prevent colon cancer from recurring, hurting prospects for new parent Roche.

The FT says the IMF says financial losses from troubled financial firms will top $4.1 billion.

Bloomberg reports that banks may get a mix of Treasury conversion of the investment to common stock mixed with some private equity.

Bloomberg reports that rising US debt sales will be necessary as tax receipts collapse

Bloomberg reports that GM (GM) is speeding plant and model cuts.

Douglas A. McIntyre