Monday, October 15, 2007

Today's Headlines

- Cancer is killing a lower percentage of Americans, according to a report that suggest screening and medicines such as Genentech’s(DNA) Avastin and ImClone Systems’ Erbitux are making a difference.
- Crude oil is rising above $85/bbl. for the first time in NY on concern Turkish forces may pursue Kurdish militants in Iraq.
- Wheat plunged 3%, to a five-week low, dropping the most permitted by the Chicago Board of Trade, as rain in the southern Great Plains improved prospects for fields in the US, the world’s largest exporter of the grain.
- Coffee plunged 6.5%, the most in two years, as rains in Brazil and forecasts for more moisture this week eased concern that a prolonged dry spell will damage the nation’s crop, the world’s largest.

Wall Street Journal:
- Discovery Communications, looking to jump-start a stalled Internet strategy, agreed to acquire the Web site for $250 million.

- Broadcom Corp.(BRCM), a latecomer to chips for cellphones, said it has developed an unusual multifunction product that could sharply reduce the price of high-end handsets.
- Danaher Corp.(DHR), an industrial company based in Oregon, is poised to buy Tektronix Inc.(TEK), an electronic test and measurement firm, for $2.8 billion.

Washington Post:
- The US military believes it has dealt devastating and perhaps irreversible blows to al-Qaeda in Iraq in recent months, leading generals to advocate a declaration of victory over the group, which the Bush administration has long described as the most lethal US adversary in Iraq.

NY Post:
- US in-theater advertising increased 15% to $456 million last year as retailers and consumer products companies entered the category, citing the Cinema Advertising Council.

Financial Times:
- The US dollar should fall to reduce the US deficit, boost exports and induce American consumers to buy domestic rather than overseas-produced goods, said Martin Feldstein, a Harvard University economics professor.

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