Media Digest (5/1/2012) Reuters, WSJ, NYT, FT

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China’s PMI rises to a 13-month high. (Reuters)

BP (NYSE: BP) profits fall as it sells some assets to pay for the Gulf spill. (Reuters)

New York state pension funds vote against five Walmart (NYSE: WMT) directors. (Reuters)

Microsoft (NASDAQ: MSFT) takes a position in the Barnes & Noble (NYSE: BKS) e-reader operation. (Reuters)

Two top Federal Reserve officials say there will be no more easing by the central bank. (Reuters)

A shareholder sues Google (NASDAQ: GOOG) to stop a stock split that would favor management control. (Reuters)

Bank of America (NYSE: BAC) will cut a large number of investment and commercial bankers. (WSJ)

Sales of cars in Japan jumps in April. (WSJ)

Economies of scale, still enjoyed because of Nokia’s (NYSE: NOK) size, may help turn around the company. (WSJ)

Home ownership falls to a 15-year low. (WSJ)

A large number of management departures hurts the ability of Freddie Mac and Fannie Mae to recover. (WSJ)

St. Jude Medical (NYSE: STJ) continues to wrestle with problems with one of its heart devices. (WSJ)

Coca-Cola (NYSE: KO) may buy Monster Beverage (NASDAQ: MNST), an energy drink company. (WSJ)

General Electric (NYSE: GE) sales in Australia rivals its Chinese revenue. (WSJ)

Caterpillar (NYSE: CAT) may face a large strike. (WSJ)

Delta Air (NYSE: DAL) finally decides to buy a northwest refiner. (WSJ)

Banks sharply increase loans to companies with junk-bond ratings. (WSJ)

The S&P 500 posts its first monthly loss since November. (NYT)

Germany continues to insist that austerity is the best means to improve the finances of troubled EU nations. (FT)

Groupon (NASDAQ: GRPN) will add two financial experts to its board. (FT)

Douglas A. McIntyre