Media Digest 3/24/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to The New York Times, JP Morgan (JPM) is in talks to raise it bid for Bear Stearns (BSC) from $2 to $10.

Reuters writes that analysts now see a steep drop in Q1 earnings for S&P 500.

Reuters writes that Bank of America (BAC) may face a $6.5 billion write-down for the current quarter.

The Wall Street Journal writes that former executives from Countrywide (CFC) are launching a firm to buy distressed mortgages. The new entity is backed by Blackrock (BLK).

The Wall Street Journal writes that Verizon (VZ) is beginning to get its fiber TV product into large apartment buildings, a further threat to cable.

The Wall Street Journal writes that Big Pharma is turning to genetics to revive sales of some of its drugs.

The Wall Street Journal writes that shares of Palm (PALM) may be downgraded by S&P.

The New York Times writes that a new Google (GOOG) search feature may take advertising away from some of its content site partners.

The New York Times writes that the WSJ will remake its MarketPlace section to handle shorter, more current articles.

The FT writes that court documents filed by JP Morgan show how far the value of some risky securities have fallen.

Bloomberg writes that "New York paid 10 securities firms more than $600,000 since mid-February to handle bids for auction-bonds even though the sales failed, saddling the state with penalty interest rates." The firms included Citigroup (C) and Goldman Sachs (GS).

Douglas A. McIntyre