PRESS DIGEST – Wall Street Journal – July 23

July 23 (BestGrowthStock) – The following were the top stories in
The Wall Street Journal on Friday. Reuters has not verified
these stories and does not vouch for their accuracy.

* Wal-Mart Stores Inc (WMT.N: ) plans to roll out
sophisticated electronic ID tags to track individual pairs of
jeans and underwear, the first step in a system that advocates
say better controls inventory but some critics say raises
privacy concerns.

* Prosectors initially thought they had a strong case
against Joseph Cassano, whose derivatives unit helped drag down
American International Group (AIG.N: ). How he escaped
prosecution shows the complexity of the probes stemming from
the financial crisis.

* UBS (UBSN.VX: ), led by CEO Oswald Grubel, is scrambling to
repair itself after twin crises that led clients to take their
money elsewhere.

* The Securities and Exchange Commission said it would
temporarily allow bond sales to go ahead without credit ratings
in deal documents, a move that would end an effective stalemate
between ratings firms and issuers.

* A White House-appointed pay overseer will cite 17
financial firms for making $1.6 billion in “ill-advised”
compensation payments during the height of the financial
crisis.

* First Horizon National Corp (FHN.N: ) and other banks,
citing improving credit conditions, are returning to
profitability by reducing their reserves for loan losses.

* Amazon.com Inc (AMZN.O: ) posted strong second-quarter
sales growth, but investors were spooked by the amount of money
the online retail giant is spending to expand its empire, and
shares tumbled 13 percent in after-hours trading.

* Dell Inc (DELL.O: ) and its founder, Michael Dell,
improperly hid the effect of massive payments from chip giant
Intel Corp (INTC.O: ) earlier this decade that inflated the
computer maker’s earnings and misled investors, U.S. regulators
alleged Thursday. Dell agreed to pay $100 million to settle SEC
charges concerning Intel and other alleged accounting fraud,
without admitting or denying guilt.

* Motorola Inc’s (MOT.N: ) lawsuit against China’s Huawei
Technologies Co [HWT.UL] alleging a plot to steal the U.S.
company’s trade secrets could complicate years of largely
successful efforts by the Chinese telecommunications-equipment
giant to demonstrate itself as an innovator in the industry.

* Toy maker MGA Entertainment Inc Thursday won back the
rights to its popular Bratz doll line from Mattel Inc (MAT.O: ),
notching a significant legal victory, though the long-running
doll wars case will possibly be retried.

* The chief executive of LG Display Co (034220.KS: ) said the
company isn’t currently able to supply all of the flat-panel
orders it receives from Apple Inc (Read more about Apple stock future.) (AAPL.O: ) for its iPad tablet
computer.

* Brisk sales of Microsoft Corp’s (MSFT.O: ) two biggest
products — Windows and Office — boosted the software
company’s quarterly profit by 48 percent, as business customers
joined consumers in a comeback for technology spending.

Stock Report

PRESS DIGEST – Wall Street Journal – July 23