Media Digest 5/11/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   The SEC said there was no single cause of the market plunge.

Reuters:   The Senate approved a single audit of the Fed.

Reuters:   Morgan Stanley Group (NYSE: MS) is the subject of a federal probe of its activity in the mortgage derivatives market.

Reuters:   Regulators said they have no estimates for the costs to bail out Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE:FRE).

Reuters:   Nasdaq says more than 10,000 trades have been cancelled from the market plunge.

Reuters:   Microsoft Corporation (NASDAQ: MSFT) updated Office to better compete with Google Inc. (NASDAQ :GOOG)

Reuters:   Apple Inc. (NASDAQ: AAPL) questioned research that showed an increase in Android’s market share.

Reuters:   Nokia oy (NYSE: NOK) shuffled management to better compete in the smartphone industry.

Reuters:   The deal to take Fidelity National private may cost $15 billion.

WSJ:   The US has begun to probe Morgan Stanley.

WSJ:   Some firms objected to cancelled trades from the market collapse saying trades made them money legitimately

WSJ:   Verizon (NYSE: VZ) and Google are developing a iPad rival.

WSJ:   The German economy expanded.

WSJ:   Starbucks (NASDAQ: SBUX) will offer a new low-priced coffee–Seattle’s Best

WSJ:   GM may get back into car lending.

WSJ:   New legislation may force banks to creating living wills in the event that they become troubled.

WSJ:   Facebook is making progress in the ad sales business.

WSJ:   The US may break its oil regulator into two new agencies.

WSJ:   The FCC is considering a program to force cellphone companies to alert customers to charges.

WSJ:   Regulators want market-wide circuit breakers.

WSJ:   The price of gold reached a record.

WSJ:   The head of Intel (NASDAQ: INTC) expects strong growth.

WSJ:   A delayed cement plug is the focus of the cause of the Deepwater Horizon disaster.

WSJ:   Bank of America (NYSE: BAC) joined JPMorgan Chase (NYSE: JPM) and Goldman Sachs in having no trading losses in any day last quarter.

WSJ:   Shorts increased their bets on NASDAQ stocks.

NYT:   Some analysts see parallels between Greek debt and that of the US.

NYT:   The IMF is trying to get a more financial unified Europe.

NYT:   Microsoft Office will be free on the web.

NYT:   The Google-AdMob deal will face further review.

FT:   China consumer prices rose sharply.

FT:   Bank of New York-Mellon face fraud charges in NY State.

Bloomberg:   Deutsche Telekom (NYSE: DT) profits rose on mobile sales.

Douglas A. McIntyre