According to Reuters Imperial Tobacco (ITY) will by US tobacco company CBHC for $1.9 billion.

Reuters writes that Unilever (UN) topped forecasts with an increase in profit of 27%.

Reuters reports that shares of bank HSBC (HBC) dropped after it announced that its bad debt charge would be $1.8 billion greater than expected.

Reuters also reports that BT (BT) reported earnings in line with expectations and upped forecasts as broadband subscriptions rose.

The Wall Street Journal reports that News Corp’s (NWS) MyNetworkTV is struggling with low rating and losing about $2 million a week.

The Wall Street Journal writes that Disney (DIS) reported strong profits on improved results at its studio and strong DVD sales.

The Wall Street Journal also writes that Mazda reported its earnings rose 46% on strong car sales in the US and Europe.

The New York Times writes that the new CEO of Home Depot (HD) is trying to return the company to its roots of being a simple retailer to demonstrate to investors that it has not lost its focus.

The New York Times reports that Nortel (NT) will cut another 3,900 jobs in North America and Europe.

The FT reports that EMC (EMC) will sell about 10% of its software arm, VMWare, to the public.

Barron’s reports that generic drug company Teva (TEVA) should report improved results over the next year after a period of falling generic prices and management turnover hurt the stock price.

Barron’s also writes that AG Edwards has upped Marriott (MAR) to a "buy" based on the company’s recurring, high margin business.

Douglas A. McIntyre

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