According to Reuters, Countrywide (CFC) will eliminate 900 jobs.

Reuters writes that Apple (AAPL) is looking for higher sales and Europe launch of the iPhone as part of the reason it cut prices on the device.

Reuters writes that the ITC will begin an investigation into patent concerns on some of Nokia’s 3G phones.

Reuters writes that Network Appliances has sued Sun (JAVA) over several patents.

The Wall Street Journal writes that Seagate (STX) will release PC disks with encryption chips which will protect data.

The Wall Street Journal writes that Boeing (BA) will delay the first test flight of its new 787.

The Wall Street Journal reports that Intel (INTC) is upgrading its line of high-end server chips.

The Wall Street Journal also reports that customers at Starbucks (SBUX) will be able to get free iTunes access within the coffee stores.

The Wall Street Journal writes that Johnson & Johnson (JNJ) is seeking approval for wider use of its drug Procrit.

The New York Times reports that Citigroup (C) closed one of its troubled hedge funds.

The FT reports that the Organisation for Economic Co-Operation and Development said that there is great risk for a major slowdown in the US economy

Barron’s writes that Cisco (CSCO) said that it is still on track to hit its full-year numbers.

Douglas A. McIntyre

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