Market Roundup (GOOG, CMCSA, GE)

Consumer bankruptcy filings in the US rose to 770,117 in the first half of 2010, reflecting 14% year/year growth, according to the American Bankruptcy Institute (

). ABI said, “Years of rising consumer debt and low savings rates” are driving totals close to the record levels achieved in 2005. The acquisition of travel software group ITA by Google

is seen as a shift to defensive strategy, with markets becoming increasingly challenging. However, analysts have cautioned that the purchase will draw tough scrutiny from the regulatory authorities. Moreover, the acquisition has not overwhelmed Wall Street. As a result, GOOG’s shares may again close in the red for the 12th consecutive session. According to an article in The New York Times, one cannot expect a big deal of the magnitude of last year’s purchase of the controlling stake in NBC Universal

by Comcast

when media bigwigs retreat into Sun Valley next week. While most executives are extremely cautious due to highly volatile market, deals made by new media plays are unlikely to be blockbusters. According to The Wall Street Journal, people familiar with the matter have disclosed that General Motors is in talks to create a revolving credit to the tune of $5 billion. This company will use funds from this credit line to boost its liquidity and provide additional working capital. Read more