Media Digest 10/22/2008

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According to Reuters, disappointing earnings pushed Wall St. down.

Reuters reports that Yahoo! (YHOO) profits dropped and the company will cut jobs.

Reuters writes that Kirk Kerkorian sold part of his Ford (F) shares at a loss.

Reuters reports that Apple (AAPL) earnings jumped on iPhone sales.

Reuters writes that Toyota (TM) sales may drop for the first time in a decade.

Reuters reports that Rio Tinto (RTP) moved up on a rumor of a bid from BHP Billiton (BHP).

Reuters reports that US aid to banks may top $700 billion.

Reuterrs writes that Samsung dropped its bid for Sandisk (SNDK).

Reuters reports that Wal-Mart (WMT) has toughened it standards on Chinese suppliers.

Reuters reports that the head of Barclays (BCS) M&A sees a credit thaw and more hostile bids for companies.

Reuters writes that "underwater" mortgages are becoming a bigger threat in the US

The Wall Street Journal reports that Latin American companies have suffered huge losses due to foreign-exchange gambles.

The Wall Street Journal reports that Apple (AAPL) gave a conservative forecast based on a weak economy.

The Wall Street Journal writes that The Fed said it will lend as much as $540 billion to the money-market mutual-fund industry.

The Wall Street Journal reports that Wal-Mart (WMT) is giving suppliers standards on environmental practices.

The Wall Street Journal writes that the SEC has asked all companies to review executive comp, especially for risk-taking behavior.

The Wall Street Journal reports that Caterpillar (CAT) issued a weak outlook.

The Wall Street Journal reports that the net at VMWare (VMW) rose sharply.

The Wall Street Journal reports that biotech stocks have outperformed the Dow recently.

The Wall Street Journal reports that the ad drop at McClatchy (MNI) is getting worse.

The New York Times reports that OPEC may have a tough time keeping oil prices higher in a recession.

The New York Times reports that Argentina will nationalize $30 billion in pension funds.

The New York Times reports that profits at Blackrock fell as investors pulled back from funds.

The New York Times reports that Pfizer (PFE) profits rose even with a drop-off in Lipitor.

The New York Times reports that United (UAUA) lost money on fuel hedges.

The FT reports that GM (GM) is looking for a "Buffett style" investment.

The FT reports that investors are suffering because of the bust in the ethanol business.

The FT reports that higher loan losses hurt US regional banks.

Bloomberg reports that oil prices are falling as drops in demand offset the chance of less supply.

Douglas A. McIntyre