PRESS DIGEST - Wall Street Journal - May 23
May 23 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
* Hewlett-Packard Co is cutting thousands more jobs, as efforts to revitalize the company have sputtered amid a rapidly changing technology landscape. The company said Thursday it would cut an additional 11,000 to 16,000 jobs on top of 34,000 positions it previously said would be eliminated as part of a multi-year restructuring plan. (r.reuters.com/tar59v)
* Investors defied a technology-market slump to send shares of Chinese online retailer JD.com Inc as much as 20 percent higher after its initial public offering Thursday in New York. The shares opened trading at $21.75, and rose as high as $22.80 in early trading. The shares closed their first day at $20.90, a gain of 10 percent.(r.reuters.com/ber59v)
* Cox Communications Inc became the biggest U.S. cable operator to commit to rolling out a gigabit-speed broadband offering to all its residential customers, starting this year, the latest sign that the push for ultra-fast broadband speeds sparked by Google is gaining traction throughout the industry. (r.reuters.com/der59v)
* Google Inc is developing a new, cutting-edge tablet as it continues to experiment with advanced vision capabilities for mobile devices. The company plans to produce about 4,000 of the prototype tablets beginning next month, according to people briefed on the company's plans. (r.reuters.com/ger59v)
* One of AstraZeneca Plc's biggest shareholders, BlackRock Inc, has urged the British pharma giant's board to eventually re-engage in talks with Pfizer Inc over a possible deal, but backed its rejection of Pfizer's offer this week, according to people familiar with the situation. (r.reuters.com/jer59v) (Compiled by Arnab Sen in Bangalore)