PRESS DIGEST - Wall Street Journal - Oct 26
Oct 26 (Reuters) - The following are the top stories in the Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.
* Apple Inc regained some momentum in its fourth quarter, selling more iPhones than expected while triggering some concerns about the iPad.
* In its first acquisition under Chief Executive Marissa Mayer, Yahoo Inc has purchased a mobile app called Stamped, with the aim of adding mobile-software experts to the struggling internet company's ranks.
* Sprint Nextel Corp's third-quarter loss widened on steep customer losses and the continuing shutdown of its older Nextel network.
* Samsung Electronics Co's third-quarter profit jumped 91 percent in a period when it was the only big manufacturer with new phones at the high end of the market. But the company indicated that momentum may stall in the current quarter.
* Amazon.Com Inc reported its first loss in more than nine years, as the retail giant's revenue growth slowed while it continued to spend heavily on product development for devices such as the Kindle tablets and e-readers, as well as on new warehouses.
* Pearson Plc said talks are under way to combine its Penguin Group with Random House, which is owned by Bertelsmann SE & Co.
* After years of often-fractious relations, Sumner Redstone said his daughter, Shari Redstone, could end up succeeding him as the overseer of his controlling interests in Viacom Inc and CBS Corp flying in the face of conventional wisdom that Viacom CEO Philippe Dauman was assured the role.
* Credit Suisse Group AG is quietly pushing to turn one of its trading venues into an exchange, an unusual bid that, if successful, would create the only U.S. stock exchange owned outright by a Wall Street bank.
* Nine more banks have received subpoenas in connection with a probe into alleged widespread interest-rate manipulation by banks, a person familiar with the investigation said.
* Secret recordings of Raj Rajaratnam sent the hedge-fund manager to prison for insider trading. Now, his lawyers say a government misstep early in the investigation should set him free.
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