MAJOR PAPERS:

• With regulators, politicians and rating firms biting at their heels, Countrywide Financial Corporation (NYSE: CFC) believed that it had no choice but to approach Bank of America Corporation (NYSE: BAC) last month about a merger, reported the Wall Street Journal. That fear led to BAC's $4B takeover of Countrywide, the Wall Street Journal reported.
• The Wall Street Journal reported that John Malone's Liberty Media Corporation (NASDAQ: LCAPA) moved to take control of IAC/InterActiveCorp (NASDAQ: IACI) from Barry Diller, nominating a series of directors for board members it is looking to replace.
• According to the Financial Times, European public health specialists have found "significant resistance" to Roche Holding Ltd's (OTC: RHHBY) widely purchased influenza antiviral medicine Tamiflu.

• Shares of Britain's third-largest drug maker, Shire Plc (NASDAQ: SHPGY) plummeted yesterday to a two-year low on concerns about demand for its attention deficit hyperactivity disorder treatment for children, Vyvanse, the Telegraph reported.

Gilead Sciences (NASDAQ:GILD) was founded a short 20 years ago in the Bay Area-near San Francisco. I say short 20 years, because this company has accomplished so much in this time period. GILD is a $3.9 billion revenue company this year and is expected to put up $4.7-4.8 billion in 2008. By any measure, excellent growth on the top line. The bottom line calls for $$2.90 per share this year, growing to $3.30 per share for 2008. Many will argue this 2008 number is very, very conservative.

What makes Gilead so special? They have the right drug therapies for some nasty afflictions. Gilead offers three major drugs for the treatment of HIV. The most recent FDA approved drug is Atripla, which is a once a day pill for HIV patients. GILD also owns the major part of the Hepatitis B market with Hepsera. Gilead is the maker of Tamiflu which treats influenza. Tamiflu is being stock piled by the US government in the event of a bird-flu pandemic. But general practitioners may also prescribes Tamiflu.

GILD is also deeply involved in age-related macular degeneration, which is a horrible eyesight affliction. The drug Macugen is another blockbuster treating this wicked disease. The company has many other potential drugs in various stages of clinical trials, the lifeline of future growth.

GILD will be a leader in the bio tech field for many years to come. The first 20 years as one major portfolio manager told me "was nothing compared to their future". On this name, Jim Cramer is spot on!!

Georges Yared is the author of "Stop Losing Money Today" and "Baby Boomer Investing...Where do we go from here?"

MAJOR PAPERS:

• The Wall Street Journal reported that the expiration of Roche Holding's (OTC: RHHBY) Tamiflu stockpiles poses a dilemma for some poor Asian countries of whether to spend millions and restock with the drug.
• The Financial Times wrote that China has launched its first navigation satellite.

• The Associated Press reported that Michael Dell outlined corporate changes in a company wide email, and said he will "quash" bonuses for 2006, reduce managers, would not hire a new COO, push for faster product development and expand into new businesses at Dell Inc (NASDAQ: DELL).
• The New York Times reported that Simon Property Group is expected to bid $1.56B for Mills Corp (NYSE: MLS).
• The Los Angeles Times reported that General Electric Company's (NYSE: GE) NBC Universal will name Jeff Zucker as its new CEO this week.
• According to the Detroit Free Press, DaimlerChrysler AG's (NYSE: DCX) Chrysler Group may cut up to 10,000 jobs next week.