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Copa Holdings (CPA) is the parent of Copa Airlines and Aero Republica which provide airline service throughout Latin America. Second quarter financials came in with what could probably be called outstanding results in the face of the increased fuel prices encountered during the quarter.

Mega Media is a multimedia corporation involved in nearly every facet of audio production. The prime area on which the company focuses is its popular rhythmic top 40 radio station, Pulse 87.7FM. Serving the New York Tri-State area, Pulse 87 has millions of listeners who tune in on a daily basis. With Pulse 87 running smoothly, it is easy to forget the individuals behind the scenes who are making the day-to-day decisions that are keeping this ship afloat.

We're going to get a full download on the economics of Microsoft (MSFT) Live Search cashback tomorrow, but in the meantime, here's why Google (GOOG) was down 5% today (in part).

Cashback merchant partners--the advertisers--set the cashback percentage. This is their cost-per-action (CPA) price. Microsoft then passes this entire amount through to the consumer.

After a brief test-drive of Microsoft Live Search cashback (and a scan of the lengthy press release), our thoughts are below. The product execution is strong and answers some of our questions/concerns. For the reasons we outlined earlier, however, we still don't think the new service will pose much of a threat to Google. Try cashback yourself here.