Merrill Lynch analyst Steven Tighe cut his rating on Merck to "neutral" from "buy" on the grounds that the news could further endanger a planned initial public offering of the Medco unit.

FORBES: Merck's Accounting Snafu Makes No Sense

Barclays, Credit Agricole CIB and a unit of JPMorgan Chase were the lead managers of the offering.

FORBES: Stocks Adrift As European Storm Settles Over Italy

Compaq Computer, meanwhile, will announce it is forming the Linux Program Center, a unit within the company dedicated to offering a range of different hardware, software, and service offerings, according to a source familiar with the company's plans.

CNN: Linux vendors think small

Apparently following in the footsteps of the BlackBook, Apple is only offering the 8GB unit in a single color, so if black's your thing, be prepared to go high-end or bust in order to get one -- be sure to hit the read link for a luscious gallery of Tony Chang's presumably coveted 'Pod.

ENGADGET: 8GB black 2G iPod nano gets unboxed

Another reason for Hutchison to worry: Chu will soon be expanding its offering of consumer electronics beyond computers - a direct challenge to another Hutchison unit, Fortress, which sells consumer electronics.

CNN: Groceries to go