Media Digest 7/22/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   A tech alliance between China and Taiwas is hurting Korea.

Reuters:   Spple (AAPL) easily beat forecasts.

Reuters:   CIT (CIT) still faces a number of financial challenges.

Reuters:   Yahoo!’s (YHOO) outlook was below expectations.

Reuters:   Bernanke says unemployment could hurt the recovery.

Reuters:   IBM (IBM) strengthened its alliance with Juniper (JNPR).

Reuters:   LG profits moved up on TV and handset sales.

Reuters:   UAL (UAUA) and Continental (CAL) posted weak results.

Reuters:   Investors are looking at small biotechs after the success of Human Genome.

WSJ:   Two arbitration firms will stop hearing credit card disputes which will hurt the industry and cellphone firms.

WSJ:   P&G (PG) is closer to selling its drug unit.

WSJ:   Bernanke told Congress that the deficit is becoming a larger danger.

WSJ:   Charles Haldeman became CEO of Freddie Mac (FRE).

WSJ:   S&P reversed ratings on mortgage bonds back by commercial property one week after its initial opinion.

WSJ:   Southwest Air (LUV) turned a profit.

WSJ:   Starbucks (SBUX) posted an impressive profit.

WSJ:   Cisco (CSCO) and HP (HPQ) are competing in the video conferencing business.

WSJ:   Microsoft (MSFT) ended a vendor financing deal with CIT (CIT).

WSJ:   Developers Diversified Realty is preparing TALF deals.

WSJ:   Wells Fargo (WFC) is developing capital problems.

WSJ:   Calpers had its worst year, down 23%.

WSJ:   Google (GOOG) has a cease fire with Apple (AAPL), but not Microsoft (MSFT).

WSJ:   A bright future in Macau prompted stock sales plans by Wynn (WYNN) and Sands.

WSJ:   The net at Coke (KO) was helped by India and China.

NYT:   Biologic drugs are sparking a debate over how quickly copycat products can be marketed.

FT:   China will deploy some of its $2 trillion in foreign reserves overseas to support its expansion overseas and aid Chinese companies in buying foreign assets.

FT:   BlackRock’s (BLK) CEO attacked Wall St. trading profits.

FT:   US ratings agencies appear to have dodged a forced overhaul.

FT:   A settlement of California’s deficit fight could push the state further into recession.

Bloomberg:   A survey gave Bernanke top ranking among central bank chiefs for handling the credit crisis.

Bloomberg:   Investors are taking on more risk with a preference for putting money into Asia.

Douglas A. McIntyre