Media Digest 5/8/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, stress tests results will force ten banks to have to raise nearly $75 billion.

Reuters reports that Toyota (TM) lost $6.9 billion and warned of more losses ahead.

Reuters writes that the NY Fed chairman resigned over potential conflicts of interest from his holdings in Goldman Sachs (GS).

Reuters reports that Oracle (ORCL) will not divest Sun’s (JAVA) hardware business.

Reuters reports that the CEO of Google (GOOG) says he expects more government scrutiny of his company.

Reuters reports that Bank of America (BAC) is looking at stock and asset sales to raise money.

Reuters reports that AIG (AIG) lost $4.35 billion in the first quarter but will not need more government money.

Reuters reports that American Express (AXP) will ask to repay TARP funds.

Reuters reports that GM (GM) burned through $10 billion in the first quarter.

The Wall Street Journal reports that the Fed sees the top 19 banks losing $699 billion through the end of 2010.

The Wall Street Journal reports that the best securities analysts made early “sell” calls as the market collapsed.

The Wall Street Journal reports that the CEO of Google (GOOG) will stay on Apple’s (AAPL) board.

The Wall Street Journal reports that Bank of America (BAC) is looking for new directors.

The Wall Street Journal reports that April retail sales signaled a recovery.

The Wall Street Journal writes that Cablevision (CVC) may be split into two pieces.

The Wall Street Journal reports that Microsoft (MSFT) bought a video game start-up.

The Wall Street Journal reports that banks will now race to raise funds in a tight credit market.

The Wall Street Journal reports that the economy may recover while jobs continue to be lost.

The Wall Street Journal reports that GMAC’s need for capital will force it to offer a big stake to the government.

The Wall Street Journal reports that a weak auction hurt Treasuries.

The Wall Street Journal writes that securities backed by commercial mortgages were hurt as General Growth took some of its mall properties with it into Chapter 11.

The Wall Street Journal reports that Toyota (TM) posted weak sales in China.

The Wall Street Journal reports that GE unveiled a $6 billion plan to bolster its medical unit.

The Wall Street Journal reports that Sirius (SIRI) posted its first drop in subscribers.

The Wall Street Journal reports that CBS (CBS) was hit by falling ad sales but gave an upbeat forecast.

The Wall Street Journal reports that Nintendo expects flat sales in the upcoming year.

The New York Times writes that the weekly claims of joblessness dropped.

The New York Times reports that central banks in Europe are easing credit policy again.

The New York Times reports that stress tests may cause bank mergers.

The FT reports that Wal-Mart (WMT) will not longer issue monthly sales reports.

Bloomberg reports that Ford (F) may tap US Energy Department loans to switch plant from SUV manufacturing to smaller cars.

Douglas A. McIntyre