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Media

Media Digest 2/15/2007

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
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According to Reuters, DaimlerChrysler (DCX) will cut 13,000 at its Chrysler unit and may offer the business for sale.

Reuters writes that revenue at Chinese search engine Baidu (BIDU) soared.

Reuters writes that radio operator Clear Channel (CCU) has set a February 23 deadline for the sale of 448 of its stations.

The Wall Street Journal writes that major banks are unloading home loans as default rate rise.

The WSJ also writes that Merck (MRK) agreed to pay $2.3 million in taxes to settle a dispute with the US government.

The WSJ reports that the CFO of Bristol-Myers (BMY) says that the company’s greatest challenge is replacing revenue from its blockbuster drug Plavix as it become open to generic competition. He said that cash flow from Plavix must be used to strenthen the company’s drug pipeline.

The WSJ reports that Deere (DE) reported stronger than expected earnings driven by ethanol sales.

The New York Times reports that EMI Music cuts its revenue forecasts on weak US sales.

FT reports that a plan by Hilary Clinton to open markets for generic versions of biotech drugs could threaten revenue at firms like Amgen (AMGN) and Genentech (DNA).

Barron’s reports that forward guidance at RealNetworks (RNWK) sent the stock down after hours.

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.

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