Monday, July 18, 2005

Today's Headlines

- Guidant, the heart-device maker Johnson & Johnson is buying, said cardiac pacemakers implanted in 28,000 people worldwide may need to be replaced because a faulty seal can cause them to fail.
- “Harry Potter and the Half-Blood Prince” shattered first-day sales records as merchants including and Barnes & Noble discounted the book to lure shoppers into stores to buy other merchandise.
- Maytag’s stock soared above Whirlpool’s $17 a share offer price, suggesting that investors expect a higher bid in the three way contest to buy the appliance maker.
- Citigroup and Bank of America said second-quarter profits were crimped by declines in fixed-income trading revenue.
- Rupert Murdoch’s News Corp. agreed to buy Intermix Media, an operator of more than 30 marketing and entertainment Web sites, for $580 million, a week after forming a new unit to capture a share of the surge in Internet advertising.
- Crude oil is falling again as OPEC cut demand growth for this year and next and Hurricane Emily lost steam.

Wall Street Journal:
- Apple Computer may sell music videos through a new version of its digital music player, the iPod.
- The prices of NYSE membership seats have changed little recently, after jumping immediately after the exchange announced on April 20 that it was to acquire Archipelago Holdings.
- US realtors have gained an edge fighting competition from discount brokers as state and local authorities approve laws requiring real-estate agents to provide a minimum level of service.

NY Times:
- Hollywood producers, directors and marketers are using religious references in mainstream films to attract more Christians to movie theaters.
- Martha Stewart Living Omnimedia investors are showing a zeal for its shares although the financial condition of the media and housewares company may make it tough to live up to the high expectations.

- Iraq drafted a tentative plan to start selling off government owned monopolies starting with the cement, brick and pharmaceutical industries.
- Unocal’s board may decide between rival takeover offers from Chevron and China’s CNOOC Ltd. in the next few days.

Corriere della Sera:
- The group that claimed responsibility for last year’s Madrid train bombings in the name of al-Qaeda threatened to attack Italy and other US allies if their troops don’t leave Iraq within a month.

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