Media Digest (8/21/2012) Reuters, WSJ, NY Times, FT

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
The International Monetary Fund and World Bank do not think the rise in food prices will bring a global financial crisis. (Reuters)

Apple Inc. (NASDAQ: AAPL) is the largest company by market cap in history. (Reuters)

Samsung will put $4 billion into a mobile chip plant in the United States. (Reuters)

The heads of Apple and Samsung discuss settlement of a patent suit without results. (Reuters)

Berkshire Hathaway Inc. (NYSE: BRK-A) chief Warren Buffett terminates $8.25 billion in credit default swaps on municipal debt, a sign he may be concerned about municipal finances. (WSJ)

The first investor in Facebook Inc. (NASDAQ: FB), Peter Thiel, sells most of his holdings. He remains on the board of the social network. (WSJ)

Barnes & Noble Inc. (NYSE: BKS) earnings will allow investors to see how its Nook e-reader product has fared. (WSJ)

Sharp may sell two of its TV factories to cut debt. (WSJ)

Germany and the European Central Bank each reject rumors that the central bank will cap lending to the financially most troubled nations in the region. (WSJ)

Chevron Corp. (NYSE: CVX) and Royal Dutch Shell PLC (NYSE: RDS-A) trade some assets in Australia. (WSJ)

Wal-Mart Stores Inc. (NYSE: WMT) extends its Christmas layaway program by a month. (WSJ)

News Corp.’s (NASDAQ: NWS) Twentieth Century Fox will distribute DreamWorks Animation SKG Inc.’s (NASDAQ: DWA) films. (WSJ)

Many Wall St. investors react badly to the appointment of a CEO from outside the industry at Best Buy Co. Inc. (NYSE: BBY). (NYT)

Glencore refuses to raise its offer for Xtrata. (FT)

The head of Citigroup Inc. (NYSE: C) raises objections to the idea that large banks should be broken up. (FT)

George Soros buys 8% of Manchester United Ltd. (NYSE: MANU) shares. (FT)

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

AKAM Vol: 21,556,944
MU Vol: 65,135,624
INTC Vol: 227,504,426
MNST Vol: 15,284,847
DELL Vol: 12,167,525

Top Losing Stocks

MSI Vol: 3,101,643
EXPE Vol: 4,189,786
CTRA Vol: 73,319,495