Media Digest 5/21/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Shares in Europe plunged

Reuters:   Oil hit the shores of Louisiana

Reuters:   The EU faces scrutiny over whether its austerity measure will be adequate.

Reuters:   The euro moved up in a short covering rally.

Reuters:   Google Inc (NASDAQ: GOOG) launched its new TV product.Reuters:   Samsung says it sees strong cellphone demand.

Reuters:   Abbott (NYSE: ABT) will buy Piramal Health for $2 billion.

Reuters:   Toyota Motor (NYSE: TM) took a stake in Tesla.

Reuters:   Chrysler will probably have an IPO next year.

WSJ:   Fears of an economic slowdown hit stocks.

WSJ:   MySpace and Facebook face privacy problems with their websites.

WSJ:   Dell Computer (NASDAQ: DELL) profits rose as margins fell.

WSJ:   Congress criticized Toyota for problems with its vehicles.

WSJ:   The FCC said in its annual report that the cellphone business is not competitive enough.

WSJ:   The new Senate financial regulation of Wall St. could cut profits at some firms by 20%.

WSJ:   Apple Inc (NASDAQ: AAPL) is gaining ground on Adobe (NASDAQ: ADBE) Flash.

WSJ:   The FDIC says the number of problem banks rose to 775.

WSJ:   The Treasury will sell $166 billion in securities next week.

WSJ:   Mortgage rates continue to drop.

WSJ:   A Fed governor said Europe’s problems could hurt US growth.

WSJ:   ECB head Trichet is facing criticism for changing his policies.

FT:   Smaller bad loans helped improve the financials of US banks according to the FDIC.

FT:   The White House said BP plc (NYSE: BP) efforts to clean up the Gulf are falling short.

FT:   High-frequency trading is the target of the causes of a brief market collapse.

Bloomberg:   A number of scientists disputed the size of the Deepwater Horizon leak.

Douglas A. McIntyre