Media Digest (7/22/2011) Reuters, WSJ, NYT, FT, Bloomberg

Microsoft (NASDAQ: MSFT) posted strong results, but Windows revenue may continue to drop as PC sales fade (Reuters)

The Justice Department will look into whether the advertising operations of News Corp (NYSE: NWS) hacked into computers of competitors (Reuters)

An EU/IMF deal to rescue Greece helped move stocks higher (Reuters)

Apple (NASDAQ: AAPL) may buy Hulu (WSJ)

Access, Sony (NYSE: SNE) and Universal may make bids for EMI (Reuters)

Obama and Boehner may be close to a budget deal (WSJ)

The value of a bailout of Greece will be $157 billion (WSJ)

Google+ (NASDAQ: GOOG) now has 20 million users (WSJ)

More than a third of employees in the U.S. have been out of work for more than a year; many are concentrated in New Jersey, Georgia, Michigan, South Carolina, North Carolina, Illinois and Florida  (WSJ)

AMD (NYSE: AMD) has failed in its attempt to find a new CEO (WSJ)

Carl Icahn has pressed Motorola Mobility Holdings  to improve the value of its patents (WSJ)

The government has set rules that will help add large utility lines across the U.S. (WSJ)

Hackers attacked NATO computers (WSJ)

A drop of cotton prices has caused clothing manufacturers to alter price plans (WSJ)

Fuel costs hurt airline profits (WSJ)

Fiat is the majority shareholder in Chrysler after the Italian company bought out U.S. government interests (WSJ)

Large currency trading banks rely on high tech methods to make their units more appealing to customers (WSJ)

Oil rose above $100 on belief that a settlement of EU trouble will spur demand (WSJ)

Congress will offer a number of bills to cut losses at the U.S. Post Office (NYT)

Nokia (NYSE: NOK) and Ericsson (NYSE: ERIC) increased cost cuts (NYT)

Rules for a Greek bond swap will not be offered to other troubled EU nations (FT)

Nokia has lost its top spot in China (Bloomberg)

China hackers may be behind at attack on IMF computers (Bloomberg)

Citigroup says silver could reach $100 (Bloomberg)

Douglas A. McIntyre