Morning Update

"I've never known a man worth his salt who in the long run, deep down in his heart, didn't appreciate the grind, the discipline." - Vince Lombardi

• AAPL: Apple Plants a Seed to Help Raise Podcasting What, you don't have a podcast yet? That's this year's version of, "What, you don't have a blog yet?" Podcasts -- downloadable audio clips that you can listen to on your computer or on a digital music player such as an iPod -- are riding an extraordinary wave of hype. Where blogs are supposed to make newspapers obsolete, podcasts are supposed to turn radio into a dusty fossil. (Full Story) Washington Post
• MOT: Razor's Edge Motorola's Bold New Course MOTOROLA PRACTICALLY INVENTED the mobile phone. A picture of the first portable "radiophone" graced the cover of the company's annual report in 1973, roughly a decade before early adopters could be found hauling bulky mobile phones around in their briefcases. The Schaumburg, Ill.-based engineering icon went on to dominate the industry, controlling more than a third of the world's wireless telephone market -- only to give much of it away in the 1990s to Finnish rival Nokia and others. But now Motorola is on the comeback trail, and so are its shares (Full Story) BARRONS
• SIRI: Sirius Business NOBODY KNOWS RADIO like Mel Karmazin. In 1981, he took over Infinity Broadcasting, built it into one of the most profitable networks in the country and, for better or worse, made Howard Stern and Don Imus national celebrities. In 1996, he sold Infinity to Westinghouse-owned CBS, which eventually was acquired by Viacom (ticker: VIA) for more than $40 billion; Karmazin became second in command to Sumner Redstone. In 2004, Karmazin suddenly quit Viacom and jumped to Sirius Satellite Radio (SIRI), the No. 2 satellite radio company after XM Satellite Radio (XMSR). (Full Story) BARRONS
• DWA: DreamWorks Struggles as a Public Company The noise from fans was deafening at the "Mr. & Mrs. Smith" premiere last month where, in the film, Brad Pitt takes a beating from his onscreen wife, played by Angelina Jolie. Inside the theater, Jeffrey Katzenberg, the chief executive of DreamWorks Animation, was more subdued, having taken something of a beating himself in recent days. In May, Mr. Katzenberg and DreamWorks were taken to task by analysts for overestimating sales of "Shrek 2" DVD's and, later, for overselling the company's newest movie, "Madagascar." (Full Story) NY Times
• EMC: EMC Corp.-EMC unveils new storage system-CNet.com: EMC has unveiled Symmetrix DMX-3, a new product which is capable of storing up to 288 terabytes of data on 960 disk drives, which is up from the 560-disk-drive-maximum of the company's previous powerhouse system. The company said by year's end, customers will be able to store up to 1 petabyte of data on over 2,000 disk drives on a single system. A petabyte is equal to a little more than 1,000 terabytes and is enough space to store 250 million digital music files.

Market Comments: The market opens flat this morning. Oil is down slightly ($58), and bond yields are in-line to up slightly (4.22%). The big news in the healthcare industry is generic drug-maker Teva buying competitor Ivax. Surprisingly, the news has both stocks trading higher.

This week's economic reports are as follow:

Monday - Existing Home Sales
Tuesday - Consumer Confidence
Wednesday - New Home Sales
Friday - Q2 Advance GDP

long TEVA