News Corp. (NYSE: NWS) CEO Rupert Murdoch, at 77, has been around for a while. But it looks like that while may be too long after today's report on News Corp. earnings and outlook. That report suggests that Murdoch wildly overpaid for Dow Jones. But he wanted it and he got what he wanted. The questions for long-suffering shareholders is whether what Murdoch wants is good for them and whether he's the person to lead News Corp through the troubled waters ahead.

Prospects are for more pain. Analysts are estimating a 22% drop in News Corp.'s fiscal 2009 operating profit to almost $4 billion. And with its stock down 56% in the last year, what could Murdoch do to revive it? One possibility is to restructure the newspapers in a radical -- but obvious way -- put all the content online and sell search advertising to those who want access to all the readers. That would cut the cost of the newspapers tremendously.

Continue reading Is it time for a management change at News Corp?

Is it time for a management change at News Corp? originally appeared on BloggingStocks on Fri, 06 Feb 2009 13:00:00 EST. Please see our terms for use of feeds.

Cablevision (NYSE: CVC) is considering buying Long Island newspaper Newsday. Jared Kushner, a rich young publisher who owns the small weekly The New York Observer may also be involved. As far any anyone knows, the Observer has never made any money.

According to Reuters, the bid would be above the $580 million already offered by New York Daily News owner Mort Zuckerman and Rupert Murdoch's News Corp (NYSE: NWS), which owns the New York Post.

Cablevision's board has already hurt its shareholders. The company's controlling shareholders, the Dolans, made a cash offer of $36.26 for the company in mid-2007. That was just before cable companies began to report weaker earnings due to increasing competition from phone operators like Verizon (NYSE:VZ). CVC now sells for $23,

There are no savings for Cablevision if it buys a newspaper. If it makes an offer in partnership with the Observer, the NY-based paper is so tiny that any cost cutting would be meaningless.

The reasons behind the Post and Daily News offers have some sense to them. By combining with another large daily paper which has overlapping geographic distribution, the chances of taking out tens of millions of dollars in costs per annum are excellent.

Putting a cable company with a daily newspaper does not make Cablevision shareholders a dime. With the newspaper industry faltering, it may actually cost them a great deal of money.

Douglas A. McIntyre is an editor at 247wallst.com and author of the Ten Stocks Under $10 letter.

Cablevision (CVC) and Newsday: a mistake from the beginning originally appeared on BloggingStocks on Thu, 01 May 2008 09:32:00 EST. Please see our terms for use of feeds.

• Merck & Co (NYSE: MRK) announced this morning that it has agreed to pay $4.85B to settle a majority of the 27,000 claims related to Vioxx, its painkiller drug, reported the Wall Street Journal (subscription required).
• In a tough sales environment, Chrysler will next month offer a new series of incentives and rebates, reported the Wall Street Journal. The campaign could put pressure on General Motors (NYSE: GM) and Ford Motor Company (NYSE: F) to follow suit.

• The Detroit Free Press reported that Ford CEO Alan Mulally said that the company would lay off more workers. "We will continue to reduce our employment consistent with our restructuring," Mulally said during the company's Q3 conference call yesterday.
• New Blockbuster (NYSE: BBI) CEO Jim Keyes is aiming to transition the company to a retail store from a rental service, reported the New York Post
• The New York Sun reported that the default rate among condominium owners in some of New York City's wealthiest areas is rising by as much as 25% this year, according to lawyers for condominium boards.

Newspaper wrap-up: Merck to settle Vioxx claims for $4.85B originally appeared on BloggingStocks on Fri, 09 Nov 2007 09:20:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Reacting to $90-plus a barrel oil prices, airlines, many of whom are beginning to see profits again, are passing along increases to passengers. Led by AMR Corporation's (NYSE: AMR) American Airlines, the largest carrier, increases per ticket are being increased about $20, according to the Wall Street Journal (subscription required).
• The UAW may not face stiff opposition among its rank and file member for a new four year labor contact with Ford Motor Company (NYSE: F), as local leaders in Detroit approved a tentative four year deal, reported the Wall Street Journal.

• The New York Post reported that two fired Dow Chemical Company (NYSE: DOW) executives shopped the company to investors, according to industry consultants' affidavits filed by the company to support its claims that the execs breached their corporate duties.
• The Telegraph reported that CIBC World Markets' financial services analyst Meredith Whitney has called for Chuck Prince's successors to break up Citigroup (NYSE: C).
• Several private equity firms are competing to buy the 32% stake in Sony Corporation's (NYSE: SNE) Sony Entertainment Television currently held by Indian investors, reported the Economic Times.

Newspaper wrap-up: Analyst calls for Citigroup break up originally appeared on BloggingStocks on Tue, 06 Nov 2007 09:15:00 EST. Please see our terms for use of feeds.

• The office of the Massachusetts secretary of state is investigating whether Bear Stearns (NYSE: BSC) improperly traded mortgage-backed securities for its own account with two hedge funds that failed this past summer, without notifying in advance the funds independent directors, reported the Wall Street Journal.
• The Schork Report's Stephen Schork sees an oil correction coming and predicted oil in the $65-$68 range, according to the Wall Street Journal's "Heard on the Street" column.

• Insurer Aetna (NYSE: AET) has instituted a tighter reimbursement policy for Amgen's (NASDAQ: AMGN) anemia drugs, creating a setback for Amgen, reported the Los Angeles Times.
• A consortium led by Icelandic investor Baugur is interested in making an offer for Saks (NYSE: SKS), reported the New York Post, but Saks will not consider a sale until the credit market improves.
• From BusinessWeek's "Inside Wall Street" section:
  
• BusinessWeek suggested that US Airways' (NYSE: LCC) poor performance compared to it's competitors makes it an attractive target to be bought.
• Rami Rosen of investment firm Oscar growth believes pacts like Radware's (NASDAQ: RDWR) venture with International Business Machines (NYSE: IBM) will help to drive growth.
• BusinessWeek hailed Amazon's (NASDAQ: AMZN) performance, saying it is one of the few internet companies that has beaten Google (NASDAQ: GOOG).

Newspaper wrap-up: Some see bubble in oil originally appeared on BloggingStocks on Fri, 19 Oct 2007 09:15:00 EST. Please see our terms for use of feeds.

• Madonna, the original material girl, is signing a 10-year $120M deal with concert promoter Live Nation (NYSE: LYV), leaving Warner Music Group (NYSE: WMG) in her wake, reported the Wall Street Journal.
• According to the Wall Street Journal's "Heard on the Street" column, Progressive Corporation (NYSE: PGR) is struggling due to competitors' pricing, safer cars, and a struggling economy, to name a few factors.
• The Financial Times reported that General Electric Company (NYSE: GE) will decide whether to sell its 80% stake in NBC Universal after the Beijing Olympics in August 2008, according to sources.
• Tenaris (NYSE: TS), the maker of steel pipes for oil and gas exploration, has ruled out any possible sale of itself to ArcelorMittal (NYSE: MT) , the world's biggest steel producer, reported the Financial Times.

• The New York Post reported that UBS AG (NYSE: UBS) has fired David Martin, its head of interest-rate trading, and James Stehli, the head of its collateralized debt obligation unit, due to the fallout from the mortgage meltdown.
• BP PLC (NYSE: BP) CEO Tony Hayward will today unveil plans to reduce bureaucracy and duplication of management at the oil giant, reported the Telegraph.

Newspaper wrap-up: Madonna headed to Live Nation originally appeared on BloggingStocks on Thu, 11 Oct 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Barron's Online's "Inside Scoop" column reported that from Sept. 19-21, former Wal-Mart Stores Inc (NYSE: WMT) CEO David Glass grossed more than $13.3M by selling 300K Wal-Mart shares on the open market, according to SEC.
• The UAW walked out on General Motors Corporation (NYSE: GM) yesterday because negotiations stalled when the United Auto Workers said they should get some sort of job guarantees from GM, reported the Wall Street Journal.
• The Financial Times reported that BP's (NYSE: BP) Q3 revenue will be "dreadful" and the company will undergo a far-reaching shakeup, BP CEO Tony Hayward has reportedly told his staff.

• Having completed a deal with aQuantive for $6B, Microsoft Corporation (NASDAQ: MSFT) wants to make one more deal this year. The question the New York Post asks is, will it be with Facebook or Yahoo Inc (NASDAQ: YHOO)?
• The Economic Times reported that Reliance Retail is in talks with the Gap Inc (NYSE: GPS) for a franchisee arrangement for Reliance Retail's apparel business.

• According to executives familiar with the review, the winner of Dell Inc's (NASDAQ: DELL) $760M ad account will either be the WPP Group (NASDAQ: WPPGY) or the Interpublic Group of Companies Inc (NYSE: IPG), with the final round of pitches to be made in three weeks, according to AdAge.com.

Newspaper wrap-up: Gap in talks for franchise in India originally appeared on BloggingStocks on Tue, 25 Sep 2007 09:24:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• After less than a year in office, Shinzo Abe, the prime minister of Japan, resigned, reported the Wall Street Journal.
• With its sights set on Toyota Motor Corporation (NYSE: TM), Volkswagen AG (OTC: VLKAY) CEO Stefan Jacoby says he'll nearly triple sales of vehicles in the U.S. over the next decade, reported the Wall Street Journal.
• Barron's Online's "Inside Scoop" column reported that director James Burke purchased $1.1M worth of AnnTaylor Stores Corporation (NYSE: ANN) stock on Friday, marking the first open-market purchase by an AnnTaylor insider in at least five years, according to InsiderScore.com.

• According to the U.K. Times, British bank Barclays (NYSE: BCS) has invested $1.5B in Golden Key, a fund that has gotten into trouble as a result of the global liquidity squeeze.
• Aluminum company Alcan Inc (NYSE: AL) is reportedly in talks to sell its packaging unit to India's Essel Group, reported the Economic Times.
• Music publishers have intensified their efforts to shut down popular Web sites that publish song lyrics without permission, reported the New York Post. The publishers are also demanding that Google Inc (NASDAQ: GOOG) and Yahoo! (NASDAQ: YHOO) remove all references to the offending sites from their search engines.

Newspaper wrap-up: Barclays to bail out Golden Key originally appeared on BloggingStocks on Wed, 12 Sep 2007 09:10:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Barron's Online's (subscription required) "Weekday Trader Extra" reported that Wall Street is eyeing the negotiations of the First Data Corp (NYSE: FDC) buyout, as there has been talk that Kravis Roberts might be willing to make some concessions to a bank group arranging financing for the purchase.
• The Wall Street Journal (subscription required) reported that General Motors Corp (NYSE: GM) has sent the UAW two proposals as their negotiations are nearing the deadline.
• With near record high oil prices, there are signs that OPEC may increase crude output 2%, or 500,000 barrels a day, as a gesture to comfort oil markets, according to the Wall Street Journal.

• The Associated Press reported that EPR, a leftist guerrilla group, said they caused a number of explosions yesterday aimed at about six Mexican oil and gas pipelines, resulting in millions of dollars in lost production and unsettling financial markets.
• Countrywide Financial Corporation (NYSE: CFC) is reportedly working with Goldman Sachs Group (NYSE: GS) and a law firm to put together another multi-billion dollar bailout plan for Countrywide, the nation's largest home lender, reported the New York Post.
• Sir Martin Sorrell believes that WPP Group (NASDAQ: WPPGY), the company he has built and is currently the CEO of, is likely to appoint his successor from within the company, reported the Telegraph.

Newspaper wrap-up: OPEC may increase crude output originally appeared on BloggingStocks on Tue, 11 Sep 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Barron's Online's (subscription required) "Weekday Trader" called Nucor Corporation (NYSE: NUE), a low-cost steel producer with a 4.7% dividend, a stock worthy of consideration.
• Royal Dutch Shell (NYSE: RDS.A) and PetroChina Company Limited (NYSE: PTR) have signed a provisional agreement for Shell to sell liquefied natural gas to PetroChina, reported the Wall Street Journal (subscription required).
  
• The Financial Times (subscription required) reported that Renaissance Technologies and DE Shaw, two of the biggest quantitative hedge fund managers, are raising money, despite concerns over the poor performance of many computer-driven funds last month.

• According to the New York Times, Ventana Medical Systems Inc (NASDAQ: VMSI), which makes cancer diagnostic equipment, is expected to announce today that it will acquire Spring Bioscience for $28.9M in cash.
• The New York Post reported that General Electric Company (NYSE: GE) CEO Jeffrey Immelt is planning on bringing Beth Comstock back as GE's chief marketing officer, according to sources close to Immelt.

Newspaper wrap-up: Ventana (VMSI) expected to announce acquisition originally appeared on BloggingStocks on Wed, 05 Sep 2007 08:50:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal's "Ahead of the Tape" focused on the upcoming earnings report from American International Group Inc (NYSE: AIG) after the close today, as a fresh barometer to gauge the subprime market -- AIG has exposure as a lender, insurer, and investor.
• With uncertainty in the debt markets, Virgin Media Inc's (NASDAQ: VMED) plans to sell itself were put off until conditions improve, reported the Wall Street Journal.
• The Financial Times reported that Oleg Deripaska, the owner of Russia's biggest aluminum maker, has acquired a stake in General Motors Corporation (NYSE: GM) of just under 5%, say two people with direct knowledge of the matter.

• The Chinese government, which holds $1.33 trillion in foreign reserves, has made economic threats against the U.S., saying it may liquidate its holdings in U.S. Treasury bonds if the U.S. imposes trade sanctions to force a yuan revaluation, reported the Telegraph.
• The New York Post has learned that Warner Music Group Corp (NYSE: WMG) may go private due to its plummeting stock price and negative investor sentiment towards the music industry in general.

Newspaper wrap-up: Warner Music (WMG) may go private originally appeared on BloggingStocks on Wed, 08 Aug 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• With his company's stock near a 52-week low, Robert Willett, CEO of Best Buy Incorporated's (NYSE: BBY) international operations, bought nearly $500K in stock, reported Barron's Online's "Inside Scoop" section.
• In a rare instance of a foreign company being allowed into the Chinese onshore oil and gas industry, Chevron Corporation (NYSE: CVX) will develop a natural gas filed owned by PetroChina Company Limited (NYSE: PTR), reported the Wall Street Journal.
• The Wall Street Journal reported that Sun Microsystems Inc (NASDAQ: SUNW) is today expected to introduce a new microprocessor called UltraSparc T2, will be able to process up to 64 threads at one time -- most chips can handle up to four threads at a time.
• According to the Financial Times, citing a source familiar with his pay package, Robert Nardelli will college a salary of $1 a year in his new role as CEO of Chrysler, which is 20% owned by DaimlerChrysler (NYSE: DCX).

• The New York Mercantile Exchange (NYSE: NMX) is quietly selling its lower Manhattan headquarters, asking for between $600M and $700M, ahead of a deal to sell itself, reported the New York Post.

Newspaper wrap-up: Sun Micro introducing new, faster chip originally appeared on BloggingStocks on Tue, 07 Aug 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• According to the Wall Street Journal, citing a person familiar with the matter, Bear Stearns Companies Inc (NYSE: BSC) plans to give its top trader, Warren Spector, the ax.
• The Wall Street Journal reported that Kroger (NYSE: KR) announced last week that it would stop selling milk that carried synthetic hormones that are made by Monsanto Company (NYSE: MON), despite the FDA saying the hormones are safe.
• A group of financial experts predicted that the U.S. will enter a recession soon, due to inflation, the economic prescriptions of a Democratic president, and the housing market meltdown, reported Barron's Magazine.

• According to insiders, Martha Stewart is not happy with Lampert's Kmart chain as she feels the company is not doing enough to sell her Martha Stewart products in its stores, which in turn is causing a "drag" on Martha Stewart Living Omnimedia Inc's (NYSE: MSO) earnings, reported the New York Post.
• While shopping on the Internet has always been a 24-hour ordeal, some traditional retailers such as Sears Holdings Corporation (NASDAQ: SHLD), Kohl's Corporation (NYSE: KSS) and Dick's Sporting Goods Inc (NYSE: DKS) are starting to realize the potential of offering online-only discounts when their stores are closed, reported the Chicago Tribune.
• Qatari investment firm Delta Two may have to provide more than GBP1B in additional equity in order to win backing from J Sainsbury's (OTC: JSAIY) board for its offer for Sainsbury, reported the U.K. Times.

Newspaper wrap-up: Bear Stearns to fire top trader originally appeared on BloggingStocks on Mon, 06 Aug 2007 09:10:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Paul Tudor Jones runs some of the best managed hedge funds anywhere, averaging over a 24% annual return over the last 20 years, but last month they reported heavy losses, according to the Wall Street Journal.
• The Wall Street Journal reported that Google Inc (NASDAQ: GOOG) is speaking with wireless operators , such as T-Mobile USA and Verizon Wireless, as well as phone manufacturers about carrying their products.
• The Financial Industry Regulatory Authority is expected to fine Morgan Stanley (NYSE: MS) a total of $6.1M for alleged overcharging of customers on bond sales totaling $59M, reported the Wall Street Journal.
• Barron's "Inside Scoop" section reported that Andrew J. McKelvey, who stepped down as Monster Worldwide Inc's (NASDAQ: MNST) chairman and CEO last October, has sold 1.27M shares for $48.6M on the open market since Friday, according to SEC data.

• Martha Stewart Living Omnimedia (NYSE: MSO) is reportedly joining with private-equity partner GTCR Golder Rauner to buy food-crafting company Wilton Industries and paint-by-number specialist Dimension Holdings, reported the New York Post.

• According to DigiTimes.com, Taiwan component suppliers for the iPhone have said they are not seeing any reduction in orders from Apple Inc (NASDAQ: AAPL).

Newspaper wrap-up 8-2-07: Martha Stewart making acquisitions originally appeared on BloggingStocks on Thu, 02 Aug 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Liberty Global Inc's (NASDAQ: LBTYA) John Malone may bid on Virgin Media Inc (NASDAQ: VMED), the UK's biggest cable company, reported the Wall Street Journal.
• The controlling shareholders of Dow Jones & Company Inc (NYSE: DJ) -- the Bancrofts -- are still debating whether or not to accept Rupert Murdoch's New Corporation's (NYSE: NWS) $5B offer to buy the company, and the debate is still too close to call, reported the Wall Street Journal.
• Even a nine cents a drink price hike may not help Starbucks Corporation (NASDAQ: SBUX) slumping share price, down about 20% this year, reported the Wall Street Journal.
• Dutch bank ABN Amro Holdings NV's (NYSE: ABN) boards today refused to endorse either of two competing bids for the bank, effectively taking a neutral position on the issue, reported the Financial Times.

• Theme park operator Cedar Fair Entertainment (NYSE: FUN) has reportedly entered into quick- moving negotiations with investment firm Destiny Capital Solutions about a $4.1B takeover of the theme park operator, reported the New York Post.
  

Newspaper wrap-up 7-30-07: Cedar Fair in takeover talks originally appeared on BloggingStocks on Mon, 30 Jul 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The FDA said no to Pristiq, an experimental Wyeth (NYSE: WYE) drug to treat the symptoms of menopause, reported the Wall Street Journal.
• The $3.1B sale of General Motors Corporation's (NYSE: GM) Allison Transmission to Carlyle Group and Onex has stalled in the debt financing market, thanks to difficulties raising debt from investors, reported the Wall Street Journal's "Heard on the Street" column.
• LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY) is expected to acquire Les Echos from Pearson (NYSE: PSO) for $331.9M, reported the Wall Street Journal.

• Time Warner Inc's (NYSE: TWX) AOL is entering the behavioral-targeting ad market by purchasing Tacoda, which uses "behavioral targeting" techniques to track Web surfers' habits, reported the New York Post.
• Cerberus Capital Management's acquisition of DaimlerChrysler AG's (NYSE: DCX) Chrysler unit could be completed on Monday or Tuesday of next week, reported the Detroit Free Press.

Newspaper wrap-up 7-24-07: Chrysler sale could be completed next week originally appeared on BloggingStocks on Tue, 24 Jul 2007 09:15:00 EST. Please see our terms for use of feeds.

Debit cards for pre-teens? originally appeared on BloggingStocks on Mon, 23 Jul 2007 00:09:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal (subscription required) reported that Sprint Nextel Corporation (NYSE: S) is disconnecting about 1,000 customers who have been calling customer service "excessively."
• According to the Wall Street Journal, Apollo Management has raised its offer for Huntsman Corporation (NYSE: HUN) to $28 a share, valuing Huntsman at $6.5B.
• The Financial Times (subscription required) reported that Moody's Corporation (NYSE: MCO), the credit rating agency, will issue a report today criticizing the private equity industry's increasing use of debt to buy companies.
• The Financial Times reported that Dow Jones and Company's (NYSE: DJ) board is reportedly making a final attempt to find a rival bidder for the company to compete with News Corporation (NYSE: NWS), contacting billionaire Ron Burkle.

• Virgin Media Inc's (NASDAQ: VMED) bankers have contacted ComCast Corp (NASDAQ: CMCSA) and DirecTV Group Inc (NYSE: DTV) to help "kick-start' an auction for the company, reported The Mail on Sunday.
• The New York Post reported, citing sources, that theme park operator Cedar Fair Entertainment (NYSE: FUN) has contacted private equity firms about the possibility of acquiring the company.

Newspaper wrap-up 7-09-07: Apollo raises offer for Huntsman originally appeared on BloggingStocks on Mon, 09 Jul 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal (subscription required) highlighted the struggles of Southwest Airlines (NYSE: LUV), a company that is dealing with the competition catching up to them in a tough competitive environment. CEO Gary Kelly said, "The threat to our future is real."
• Citigroup Incorporated (NYSE: C) is expected to pay $700M for Automated Trading Desk, an electronic trading firm, reported the Wall Street Journal.
• News Corporation (NYSE: NWS) and Dow Jones and Company Inc (NYSE: DJ) have reached a preliminary understanding for a way to safeguard the editorial independence of the Wall Street Journal and the other Dow Jones publications, which had been the key road block to a deal, reported the Wall Street Journal.
• Walter Mossberg, the Wall Street Journal technology guru, spent two weeks testing Apple Inc's (NASDAQ: AAPL) new iPhone, and said it was "a beautiful and breakthrough handheld computer."

• Also regarding the iPhone, according to Newsweek, Steve Jobs said of the high expectations for the iPhone, "I think we're going to blow away the expectations."
• The New York Post has learned that Nordstrom Inc (NYSE: JWN) has apparently reached a deal to sell its Faconnable chain to a Lebanese private equity firm.

Newspaper wrap-up 6-27-07: iPhone making news just ahead of release originally appeared on BloggingStocks on Wed, 27 Jun 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• William Ackman's Pershing Square Capital Management, whose firms holds about 15% of Ceridian Corporation (NYSE: CEN), doesn't like the proposed $5.3B sale of the company to Thomas H. Lee Partners and Fidelity National Financial Inc (NYSE: FNF), and says he's going to find higher bidders, according to the Wall Street Journal.
• The Financial Times reported that British bank Barclays PLC (NYSE: BCS) has drawn up plans to sweeten its $86B all-share offer for Dutch bank ABN Amro Holdings (NYSE: ABN), by substituting cash for some of the shares it is currently offering for ABN.
• Beginning today, Apple Inc (NASDAQ: AAPL) is embedding its iTunes internet music download service in the British and Irish social networking site Bebo, reported the Financial Times.

• The New York Post has learned that a private-equity firm owned by the Dubai government is close to buying Barneys New York from the Jones Apparel Group (NYSE: JNY).
• The New York Times reported that the Wall Street Journal is set to "shake up its newsroom" by reassigning and replacing several top editors.
• Golf equipment maker Callaway Golf Company (NYSE: ELY) is suing Fortune Brands Inc.'s (NYSE: FO) Acushnet Co, for allegedly violating five Callaway patents for golf clubs, reported the Los Angeles Times.

Newspaper wrap-up 6-13-07: Apple embeds iTunes in Bebo originally appeared on BloggingStocks on Wed, 13 Jun 2007 09:15:00 EST. Please see our terms for use of feeds.