Media Digest 1/8/2007 Reuters, WSJ, NYTimes, FT, Barron’s

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According to Reuters, GE  (GE) will buy Vetco Gray which builds oil and gas field equipment. The price is $1.9 billion.

Reuters writes that Microsoft (MSFT) sees itself leading Sony (SNE) in the video game business.

Reuters reports that Nokia  (NOK) sold over 40 million multimedia phones last year.

The Wall Street Journal writes that during the Detroit Auto Show, GM (TM) hopes to show it can regain the lead as the technical and design front runner among the world’s auto firms.

The WSJ also reports that Nokia is introducing a slim phone to try to take marketshare from rival Motorola (MOT).

The WSJ writes that Microsoft (MSFT) has cut deal with several TV networks to allow shows to be watched via internet connections. The move may be a threat to satellite and cable companies. The technology would build a bridge between the internet and TV sets.

The WSJ also reports that Vonage (VG) will resell Earthlink’s (ELNK) internet services as a way to gain share from cable and phone companies.

The WSJ writes that Yahoo! (YHOO) will release more advanced search features for cellphone and will attempt to get consumes to download the software directly instead of getting it from their cell service providers.

The New York Times writes that Microsoft and Ford (F) will launch technology that will bring internet access to cars.

The FT reports that Samsung expects flat panel TV sales to jump 80%.

Barron’s reports that Bed Bath and Beyond  (BBBY) stock looks like a bargain. It profit margin is better than Target (TGT) or Home Depot (HD).

Barron’s writes that the break-up of Tyco (TYC) could net investors good gains as the three major units of the company will stand on their own.

Barron’s writes that tech stocks will probably pull back early in the year.

Douglas A. McIntyre