Given the recent run-up in DirecTV's share price, this news was not completely unexpected.

It is critical that media companies gain a greater understanding of technology and the impact it may have on their businesses. No company understands technology and the consumer better than Apple.

Time Warner Cable should again experience a strong growth quarter. Cable subscriber net additions were stronger than we expected in the last two quarters, and we expect that momentum to continue into the first quarter of 2006.

We view this announcement as a slight positive as it may lessen some overhang on the DTV shares. However, we believe investors have already priced in $3 billion of buybacks, and GM's shares do not represent incremental repurchases of equity.

In our view, no company understands both technology and the consumer better than Apple.

They really showed an interest in helping. They've seen a lot on the news and realize how blessed they are and would like to do something for the ones going through this difficult time.