Media Digest 7/23/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Obama says healthcare reform is essential to the recovery.

Reuters:   CIT (CIT) bond advisers will push for Chapter 11.

Reuters:   Democrats will fight with banks on consumer agency.

Reuters:   Amazon (AMZN) bought Zappos for $829 million.

Reuters:   Porsche approved Qatar talks and fired its CEO.

Reuters:   Bristol-Myers (BMY) bought Medarx (MEDX) for $2.4 billon.

Reuters:   Hyundai posted a record profit.

Reuters:   Bernanke will fight for the Fed’s independence.

Reuters:   Ebay (EBAY) posted reasonable earnings and offered hope it core business is improving.

Reuters:   Wal-Mart (WMT) is trying to improve its laptop business for the back-to-school season.

WSJ:   The jobs market is dropping faster than GDP.

WSJ:   The Federal pension agency will bail out Delphi by taking on $8.2 billion in liabilities.

WSJ:   The SEC will ban managers from having public pension fund clients if they make political contributions.

WSJ:   A rating shift by S&P (MHP) has clouded the market for mortgage securities in commercial real estate.

WSJ:   GM says global sales are picking up.

WSJ:   Intel (INTC) says that an EU fine violated its rights.

WSJ:   RIM (RIMM) warned a new update has spyware.

WSJ:   Earnings at Well Fargo (WFC) show that bad loans are still hurting banks.

WSJ:   The IMF is pushing ongoing stimulus in China.

WSJ:   Goldman Sachs (GS) bought back warrants from the US.

WSJ:   AIG (AIG) help back bonuses it was to pay last week.

WSJ:   Boeing (BA) has still not set a date for the first flight of the Dreamliner.

WSJ:   Glaxo (GSK) hopes to have flu vaccine early next year.

WSJ:   The FDA approved a Medtronic (MDT) heart valve.

WSJ:   Qualcomm (QCOM) sees signs of a cell phone rebound.

NYT:   Washington want more cuts from the pharma industry as it remakes healthcare.

FT:   US banks are warning about future write-offs on commercial property.

Douglas A. McIntyre