The Economy Crumbles Even Video Games Go To Hell
In a recession, people are supposed to be able to buy soap, hamburgers, beer, and video games. This downturn may be worse than most. Electronic Arts (ERTS), posted a net loss of $310 million…
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Newest first · Page 350Media Digest 10/21/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the economy contracted in the third quarter as consumer spending dropped sharply. Reuters writes that Fidelity Magellan Fund bought shares in big banks in September including Bank of America (BAC) and…
EA Spells Trouble For Video Game Sector (ERTS)
Video game leader Electronic Arts Inc. (NASDAQ: ERTS) has just reported earnings, and this sector might not be quite as immune to economic woes as you might have hoped. The company reported a loss…
Where Will Jim Cramer’s Primary Responsibilities Go? (TSCM)
TheStreet.com Inc. (NASDAQ: TSCM) reported lackluster earnings after yesterday’s close with a third quarter loss of $0.04 per share as revenue rose 4% from a year earlier to $16.7 million. But more importantly, Jim…
Media Digest 10/30/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, investors and banks are in a struggle over whether financial companies should be able to change the way they value assets under accounting rules. Reuters writes that improvements in Asia markets…
Comcast (CMCSA): Cable On Steroids
People can’t afford to go out, so they are getting their entertainment at home. At least the is the message embedded in the Comcast (CMCSA) third quarter earnings. The firm even upped its forecasts…
Media Digest 10/29/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, global stocks rose on possible rate cuts but the economic outlook is grim. Reuters reports that the Fed is expected to cut rates with Japan likely to follow. Reuters reports that…
Fahrenheit 451 & The Internet (GOOG, MHP, PSO, JW-A, CBS)
We are seeing a historic event, and one which may outline the future of books. Google (NASDAQ: GOOG) has reached a settlement over its dispute with The Authors Guild and the Association of American…
Martha Comes Up Short (MSO)
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) posted a net loss at -$0.07 EPS and said that excluding certain restructuring corporate expenses it would have seen a loss of -$0.01 EPS. First Call was…
Magazine Business Starts To Follow Newspapers Down The Tank (NYT)(WPO)(GCI)(MHP)(TWX)
There are no Wall Street analysts who believe that newspapers will recover from the ongoing financial crisis. Publishers have argued that housing, employment, and car markets were the cause of their declining revenue. When…
Media Digest 10/28/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, GM (GM) and Chrysler have asked the government for $10 billion to close their merger. Reuters reports that Boeing (BA) and its machinists have entered into a tentative labor agreement. Reuters…
With Sirius Up 30%, Can Chatter Be True? (SIRI)
Sirius XM Radio (NASDAQ: SIRI) did something rather unusual if you consider its recent downward trend. Its shares rallied close to 30% today. Sure, you have to consider how low shares had gotten and…
Media Digest 10/27/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the Korean central bank made record rate cuts. Reuters reports that the G7 said the rising yen may be a threat to financial markets. Reuters writes that Hungary and the IMF…
How The New York Times (NYT) Should Save Itself
The New York Times is now running on fumes. S&P has downgraded the company’s debt to junk, and Moody’s is about to do the same. The stock has fallen to $10, and is being…
Media Digest 10/24/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Greenspan said he was shocked by the credit meltdown. Reuters reports that the value of Bear Stearns $30 billion mortgage portfolio fell 9%. Reuters writes that Asia and Europe are turning…