U.S. Stocks Retreat on Subprime, Earnings Concerns; Intel, Pfizer Decline

(Bloomberg) -- U.S. stocks fell after Bear Stearns
Cos. told investors there's little value left in its two failed
hedge funds while Intel Corp. and Pfizer Inc. said competition
hurt earnings.

Financial shares were the biggest drag on the Standard &
Poor's 500 Index after Bear Stearns said ``unprecedented
declines'' in securities used to bet on subprime mortgages wiped
out the funds. Intel, the world's biggest chipmaker, and Pfizer,
the largest drugmaker, led the Dow Jones Industrial Average down
from a fourth-straight record.


Read more at Bloomberg Stocks News

No job cuts seen in Intel-STMicro memory venture

(Reuters) - TEL AVIV, June 25 - The newly appointed head of Intel Corp. and STMicroelectronics' flash memory joint venture said on Monday no layoffs were anticipated after the companies' activities are combined.



Intel and Franco-Italian STMicro said last month they would hive off their flash memory units and put them together with the backing of private equity firm Francisco Partners.


Read more at Reuters.com Mergers News

BC Partners in lead to buy Intelsat: report

(Reuters) - None of the companies mentioned in the report was immediately available to comment.




Intelsat assets are in demand amid a renaissance in the commercial satellite market that is spurred by demand for high-definition television and faster Internet services.


Read more at Reuters.com Business News

Liberty Media, Echostar to bid for Intelsat-report

(Reuters) - NEW YORK, June 14 - Liberty Media Corp. and EchoStar Communications Corp. are preparing a joint offer for satellite-communications provider Intelsat Ltd., The Wall Street Journal's online edition said on Thursday.



Intelsat, which is accepting final bids for its auction on Thursday, could fetch more than $5.5 billion, the Journal said.


Read more at Reuters.com Mergers News