Friday 28 October 2011

Exxon Mobil profit rises 41 pct on higher prices

Gas prices are displayed at a Mobil station in Quincy, Mass., Tuesday, Oct. 25, 2011. Exxon Mobil said Thursday, Oct. 27, 2011, its net income rose 41 percent in the third quarter as higher oil and natural gas prices made up for lower production. (AP Photo/Steven Senne)

Gas prices are displayed at a Mobil station in Quincy, Mass., Tuesday, Oct. 25, 2011. Exxon Mobil said Thursday, Oct. 27, 2011, its net income rose 41 percent in the third quarter as higher oil and natural gas prices made up for lower production. (AP Photo/Steven Senne)

(AP) ? Exxon Mobil's quarterly profit rose 41 percent because the company sold oil and natural gas at higher prices, making up for lower production.

The world's largest publicly traded oil company, which owns and operates oil and gas fields from Texas to Qatar, said prices rose sharply in the third quarter. Its refineries also charged more for gasoline and other fuels that they make from oil.

Exxon sold oil in the U.S. for an average of $95.58 a barrel, up 35.2 percent from a year earlier. Internationally, it charged $107.32 a barrel, up 45.4 percent. It also charged more for natural gas.

The higher prices boosted earnings at Exxon's exploration and production business, which finds and pumps oil and natural gas. Earnings rose nearly 19 percent in the U.S. and 61 percent internationally.

Exxon's U.S. refineries also benefited. Their profits quadrupled as demand for gasoline and other fuels soared around the world, enabling them to charge more.

Yet the production decline was a disappointment for the Irving, Texas-based company. Exxon has outspent other oil giants over the past few years in the search for new fields. So far this year, it shelled out $24 billion on projects. Exxon's oil production fell 7 percent while natural gas production slipped 3 percent

Some of the declines resulted from deals that limit the amount of oil Exxon can sell as prices rise on international markets. Excluding those limits, however, production was still flat.

BP and Royal Dutch Shell also reported production declines in the July-September quarter.

Still, Exxon Mobil Corp.'s total net income rose to $10.33 billion, or $2.13 per share, in the third quarter. That compared with $7.35 billion, or $1.44 per share, a year earlier.

Revenue rose 32 percent to $125.3 billion.

Shares of the Irving, Texas-based company rose Thursday after it announced the quarterly results. Investors were encouraged by oil prices in the futures market. The price of crude rose more than 3 percent to $93.10 in New York.

Exxon's stock price climbed 9 cents to $81.16.

Exxon's production declines this quarter raise larger concerns. It takes years to find new sources of oil, and demand is rising as China and other countries need more fuel to run and expand their economies. Analysts say they're concerned that major producers are so far unable to supply enough crude.

"I think there is a danger that we can't keep up with demand," Argus Research analyst Phil Weiss said.

But if companies find and successfully pump oil, that should raise production levels and eventually provide producers with a return for the billions they're spending on exploration.

Associated Press

Source: http://hosted2.ap.org/apdefault/f70471f764144b2fab526d39972d37b3/Article_2011-10-27-Earns-Exxon%20Mobil/id-70738fbbb3b041e2b4c55bd358d7b9e2

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House speaker says no more defense cuts (AP)

WASHINGTON ? House Speaker John Boehner has a message for the special bipartisan panel looking for ways to cut the deficit: Leave military spending alone.

The Ohio Republican said at a news conference Thursday that projected defense spending has taken more than its "fair share of the hits" in the debt accord reached this past summer.

President Barack Obama and congressional Republicans agreed this summer to cut $350 billion in projected spending over 10 years. The Pentagon is planning cuts of about $450 billion.

The supercommittee has a mandate to come up with at least $1.2 trillion in overall spending cuts over 10 years. If it fails to do so by Nov. 23, or Congress rejects its plan, automatic, across-the-board cuts of $1.2 trillion kick in, with half coming from defense.

Source: http://us.rd.yahoo.com/dailynews/rss/usmilitary/*http%3A//news.yahoo.com/s/ap/20111027/ap_on_go_co/us_defense_cuts

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Thursday 27 October 2011

Nokia announces its Drive navigation, Mix Radio, and ESPN Sports Hub cloud services for WP7

Fancy some turn-by-turn voice-guided navigation, cloud based music or sports highlights on your brand new Nokia smartphone? You don't need an app for that: the Lumia 800 is now the only Windows Phone with full navigation built-in. Nokia announced its Drive navigation, which has a look and feel that should be comfortable with users of its former Ovi Maps suite. It also looks to have similar functionality, enabling the download of maps so that you can find our ways into offline areas (see gallery, below).

There's also exclusive Music and ESPN Sports Hub apps. The former features Mix Radio, a service that streams "locally relevant music" across hundreds of channels. The latter, meanwhile, allows sports fans to check up on stats, scores and news, and to pin their favorite teams or leagues to the start screen. All told, the company is promising a "uniquely Nokia" experience -- guess their slick hardware won't be the only way they break out of the WP7 pack. Check out a video demo of the navigation embedded after the break.

Amar Toor and James Trew contributed to this report.

Continue reading Nokia announces its Drive navigation, Mix Radio, and ESPN Sports Hub cloud services for WP7

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Wednesday 26 October 2011

US pulls envoy out of Syria, citing safety concern (AP)

WASHINGTON ? The Obama administration has pulled its ambassador home from Syria, arguing that his support for anti-Assad activists put him in grave danger ? the most dramatic action so far by the United States as it struggles to counter a Mideast autocrat who is withstanding pressure that has toppled neighboring dictators.

Syria responded quickly Monday, ordering home its envoy from Washington.

American Ambassador Robert Ford was temporarily recalled on Saturday after the U.S. received "credible threats against his personal safety in Syria," the State Department said, pointing directly at President Bashar Assad's government. Ford, who already had been the subject of several incidents of intimidation, has enraged Syrian authorities with his forceful defense of anti-Assad demonstrations and his harsh critique of a government crackdown that has now claimed more than 3,000 lives.

Calling Ford back to the U.S. is short of a complete diplomatic break but represents the collapse of the administration's hopes that it could draw Assad toward government changes and a productive role fostering Mideast peace. Washington held off on a full condemnation of Assad as his crackdown worsened this spring, and waited months to demand that he step aside.

Ford's presence in Damascus had been an important symbolic part of President Barack Obama's effort to engage Syria, which was without a U.S. ambassador for years after the Bush administration broke ties over Syria's alleged role in the 2005 assassination of a political candidate in neighboring Lebanon.

With Moammar Gadhafi's death last week in Libya, and the revolutions that toppled long-time leaders Hosni Mubarak in Egypt and Zine El-Abidine Ben Ali in Tunisia, Assad is among the Arab Spring autocrats left standing. Along with Ali Abdullah Saleh in Yemen, he is facing the most pressure from his citizens to leave power. Yet with his vast security network and close links with Russia and China, Assad is perhaps the one best placed to withstand pressures for change ? peaceful or violent.

In Washington, State Department spokeswoman Victoria Nuland said, "We are concerned about a campaign of regime-led incitement targeted personally at Ambassador Ford by the state-run media of the government of Syria." She called on the Assad government to "end its smear campaign of malicious and deceitful propaganda."

Nuland could not say when Ford might go back to Syria. Earlier, department spokesman Mark Toner said the U.S. Embassy would remain open in Damascus as the threats were specifically directed toward Ford, and that the ambassador's return depended on a U.S. "assessment of Syrian regime-led incitement and the security situation on the ground."

The State Department said there were no plans to expel Syria's top diplomat in Washington in retaliation. But Roua Shurbaji, a Syrian Embassy spokeswoman, said Ambassador Imad Moustapha left the U.S. on Monday for consultations in Damascus. She said no other measure was being taken by the embassy, and declined to comment on the U.S. allegations.

Ford's departure comes at a worrisome stage in the seven-month movement against Assad. U.S. officials are increasingly concerned about reports of weapons smuggling into Syria and the threat of peaceful protests being replaced by an armed uprising.

Amid that pressure, the world's attention is turning to Syria, even if the demonstrations have delivered only a stalemate. The protesters are too weak to force Assad and his government from power, and for all its brutality the government cannot stamp out all opposition. At the same time, Assad's pledges of reforms have long been ignored as meaningless and there is little indication his government is prepared to initiate a real dialogue with opponents.

If the level of violence resembles Libya's before the NATO intervention, Syria is different because anti-government groups are insisting that they want no outside assistance. The opposition is also hindered in that it remains a largely Sunni movement, with Assad maintaining significant loyalty from his dominant Alawite sect and Syria's minority Druze, Christians and business elite.

Ford arrived in January as the first American ambassador to Syria since the assassination of former Lebanese Prime Minister Rafik Hariri on a Beirut street. Syria at the time had thousands of troops in Lebanon and pulled many political strings there, but it has always denied any involvement in the bombing attack.

The Obama administration had hoped to persuade Syria to change its often anti-American policies regarding Israel, Lebanon and Iraq, and to drop its support for extremist groups. Syria is designated a "state sponsor of terrorism" by the State Department.

Assad largely shrugged off U.S. attempts to pull his nation away from its alliances with Iran, Hamas and Hezbollah. And as protests escalated in Syria, Ford essentially dropped his engagement efforts and took on an increasingly high-profile role defending the rights of Syrian protesters.

That shift was cemented when Obama called on Assad to leave power in August.

"We believe Assad needs to step aside, so engagement with him is certainly over," Nuland said on Monday. "But we are prepared to engage with Syrians of all stripes" and see "if they are able to take the next steps to pursue a democratic future."

Ford has been leading that effort, at great personal danger. He was greeted by demonstrators with roses and cheers when he traveled to the restive city of Hama in July, prompting immediate travel restrictions from Syria. The government stopped short of declaring him persona non grata, but U.S. officials say it has tried to make life for him in the country intolerable.

Just days after the trip to Hama, hundreds of government supporters attacked the U.S. Embassy in Damascus, smashing windows and spray-painting obscenities on the walls. Ford has been hit with eggs and tomatoes while going to meet dissidents or visit mosques. His postings on Facebook have prompted thousands of Syrian and other responses, including death threats from pro-Assad hardliners.

The U.S. last month decried Ford's treatment as "unwarranted and unjustifiable," after Assad supporters tried to force their way into a meeting he was having with a prominent opposition figure. Syrian police were slow in responding, and Ford was trapped inside the building for about three hours. But White House press secretary James Carney insisted at the time that the U.S. had no plans to remove Ford for his safety.

Nuland pointed to two articles in Syrian state-run media that she said highlighted the government's increased incitement of violence against Ford. The first, in the al-Baath newspaper in early October, warned Ford that he could receive more "rotten eggs" if he didn't end his alleged support for armed anti-government groups in Syria. The second appeared in al-Tharwa last week, she said.

The article claimed Ford operated death squads while he was posted diplomatically in Iraq, and that he was trying to apply his experience now in Syria. U.S. officials feared such an allegation might lead to an attack of greater violence against him.

___

Associated Press writers Bassem Mroue in Beirut and Albert Aji in Damascus, Syria, contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/mideast/*http%3A//news.yahoo.com/s/ap/20111024/ap_on_go_ca_st_pe/us_us_syria

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iPad Sales Have Reached The Plateau (The Atlantic Wire)

The gadget is a hit, but its share of the market for tablet computers fell sharply last quarter, as Android devices surged.

Related: Android's Browser Leaves the iPhone's in the Dust

The numbers are deceptive.

Related: Survey: iPhone Could Gain on Android, BlackBerry Very Quickly

Apple shipped 20 percent more iPads in the past three months, PC World reports. But a report Friday from Strategy Analytics showed Apple's market share for tablet computers fell from 96 percent to 67 percent. Android devices are closing in on one-third of the market, at 27 percent.

Related: All the Ways Apple Keeps Secrets (That We Know Of)

The upshot is likely a price-cut for iPads, to stay competitive with devices like Amazon's Kindle Fire, which will retail for $199.

So if Apple wants to compete in that mainstream market, Mainelli maintained, it's going to need to augment its media tablet lineup with lower-priced products. That doesn't necessarily mean introducing something like a seven-inch iPad, as has been suggested by some observers. Apple can simply adopt the strategy it has used for its iPhone lineup, Mainelli noted.

...

"Lower-priced iPads would increase Apple's total available market, and would give competitors already reeling from Amazon's $199 product announcement yet another reason to lose sleep at night," he added.

Source: http://us.rd.yahoo.com/dailynews/rss/personaltech/*http%3A//news.yahoo.com/s/atlantic/20111023/tc_atlantic/ipadhasreachedplateaustatus44014

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John Mayer Recuperating After Serious Throat Surgery

John Mayer Recuperating After Serious Throat Surgery

Singer John Mayer had to have throat surgery to remove a granuloma, which is basically an inflamed nodule, from just above his vocal cord. Mayer [...]

John Mayer Recuperating After Serious Throat Surgery Stupid Celebrities Gossip Stupid Celebrities Gossip News


Source: http://feedproxy.google.com/~r/stupidcelebrities/~3/a-vJCKF2efQ/

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Monday 24 October 2011

Giant flakes make graphene oxide gel

Friday, October 21, 2011

Giant flakes of graphene oxide in water aggregate like a stack of pancakes, but infinitely thinner, and in the process gain characteristics that materials scientists may find delicious.

A new paper by scientists at Rice University and the University of Colorado details how slices of graphene, the single-atom form of carbon, in a solution arrange themselves to form a nematic liquid crystal in which particles are free-floating but aligned.

That much was already known. The new twist is that if the flakes ? in this case, graphene oxide ? are big enough and concentrated enough, they retain their alignment as they form a gel. That gel is a handy precursor for manufacturing metamaterials or fibers with unique mechanical and electronic properties.

The team reported its discovery online this week in the Royal Society of Chemistry journal Soft Matter. Rice authors include Matteo Pasquali, a professor of chemical and biomolecular engineering and of chemistry; James Tour, the T.T. and W.F. Chao Chair in Chemistry as well as a professor of mechanical engineering and materials science and of computer science; postdoctoral research associate Dmitry Kosynkin; and graduate students Budhadipta Dan and Natnael Behabtu. Ivan Smalyukh, an assistant professor of physics at the University of Colorado at Boulder, led research for his group, in which Dan served as a visiting scientist.

"Graphene materials and fluid phases are a great research area," Pasquali said. "From the fundamental point of view, fluid phases comprising flakes are relatively unexplored, and certainly so when the flakes have important electronic properties.

"From the application standpoint, graphene and graphene oxide can be important building blocks in such areas as flexible electronics and conductive and high-strength materials, and can serve as templates for ordering plasmonic structures," he said.

By "giant," the researchers referred to irregular flakes of graphene oxide up to 10,000 times as wide as they are high. (That's still impossibly small: on average, roughly 12 microns wide and less than a nanometer high.) Previous studies showed smaller bits of pristine graphene suspended in acid would form a liquid crystal and that graphene oxide would do likewise in other solutions, including water.

This time the team discovered that if the flakes are big enough and concentrated enough, the solution becomes semisolid. When they constrained the gel to a thin pipette and evaporated some of the water, the graphene oxide flakes got closer to each other and stacked up spontaneously, although imperfectly.

"The exciting part for me is the spontaneous ordering of graphene oxide into a liquid crystal, which nobody had observed before," said Behabtu, a member of Pasquali's lab. "It's still a liquid, but it's ordered. That's useful to make fibers, but it could also induce order on other particles like nanorods."

He said it would be a simple matter to heat the concentrated gel and extrude it into something like carbon fiber, with enhanced properties provided by "mix-ins."

Testing the possibilities, the researchers mixed gold microtriangles and glass microrods into the solution, and found both were effectively forced to line up with the pancaking flakes. Their inclusion also helped the team get visual confirmation of the flakes' orientation.

The process offers the possibility of the large-scale ordering and alignment of such plasmonic particles as gold, silver and palladium nanorods, important components in optoelectronic devices and metamaterials, they reported.

Behabtu added that heating the gel "crosslinks the flakes, and that's good for mechanical strength. You can even heat graphene oxide enough to reduce it, stripping out the oxygen and turning it back into graphite."

###

Rice University: http://media.rice.edu

Thanks to Rice University for this article.

This press release was posted to serve as a topic for discussion. Please comment below. We try our best to only post press releases that are associated with peer reviewed scientific literature. Critical discussions of the research are appreciated. If you need help finding a link to the original article, please contact us on twitter or via e-mail.

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Source: http://www.labspaces.net/114525/Giant_flakes_make_graphene_oxide_gel

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Thursday 20 October 2011

John Singleton sues over 'Hustle and Flow'

"Hustle & Flow" producer John Singleton filed a lawsuit against Paramount Pictures and MTV Films Wednesday, claiming that they reneged on elements of the deal that they struck at the Sundance Film Festival for the 2005 film.

According to the suit, Singleton allowed Paramount to distribute the film in exchange for a modest $9 million fee, provided they finance and distribute two other films. (The suit alleges that Paramount agreed to this, provided the follow-ups didn't cost more than $3.5 million each.)

Story: Lautner tries, but 'Abduction' is just silly

The suit further states that, because of the agreement, Singleton gave Paramount the distribution rights to the 2006 Samuel L. Jackson/Christina Ricci film "Black Snake Moan."

But the suit alleges that, when Singleton's production company, Crunk Pictures, tried to exercise its options on the two films, Paramount gave him the runaround.

Story: Can Taylor Lautner make it as lone wolf in 'Abduction'?

"Unfortunately, when Crunk attempted to exercise its right to 'put' the two pictures with Paramount, Paramount began asserting self-imposed, non-existent conditions on the 'puts' that prevented Singleton from making the pictures," the suit reads.

And Singleton is unhappy about it ? particularly, no doubt, because the "Hustle & Flow" turned a tidy profit, earning more than $23 million worldwide on a $2.8 budget.

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Moreover, Singleton claims, he passed on a number of other, potentially more lucrative deals for "Hustle & Flow" because of Paramount's promise.

Singleton, who claims fraud, unjust enrichment, breach of contract and breach of implied covenant, is seeking no less than $20 million in the suit.

Paramount did not immediately respond to TheWrap's request for comment on the suit.

Copyright 2011 by TheWrap.com

Source: http://today.msnbc.msn.com/id/44971890/ns/today-entertainment/

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Death or Disco? Preserve Your Loved Ones as Their Favorite Vinyl Record (Time.com)

(ZURICH) ? Tupac Shakur ended up as a joint. The long-circulated rumor was recently confirmed by two members of his former band Outlawz, EDI Mean and Young Noble. In 1996, the two musicians actually mixed the ashes of the assassinated hip-hop star with marijuana and smoked it just like Tupac had asked in his song Black Jesus: "Last Wishes, niggas, smoke my ashes."

Of course, Tupac's last wish is hardly common. Still, it isn't as unusual as one may think. The number of people choosing an alternative to the peaceful coffin or urn of ashes is increasing every year. If fate has already gambled away half of your battle, the reasoning goes, you should at least be able to organize your departure entirely on your own terms.

In Switzerland, natural burials are very popular, due in part to the "ash freedom" laws: anyone who chooses to be cremated may also decide where the ashes are cast. Scattered under a favorite tree? Along a favorite trail? In the river, on whose banks you stole your first kiss? Basically everything is permitted. (See the top 10 unsolved hip-hop murders.)

Such "gone with the wind" burials are undoubtedly very poetic and moving moments of farewell. And yet there's a catch: once the ashes are gone, all is gone. The memory of an individual is reduced to a thought, without a fixed place of remembrance or a tangible symbol in which the remains can be preserved.

Nature lovers can work around this problem elegantly by asking that their ashes be turned into fertilizer for a newly planted young tree. As the tree grows, it absorbs the ground cover in its roots, its branches and foliage soon flourishing into a natural grave.

Diamonds and drinks
The pan-European company Algordanza (meaning "memory" in Romansh), founded in 2004, offers a relic particularly well-suited for widows: it converts the ashes of dead loved ones into faux diamonds. The synthetic stones are manufactured in a laboratory in Neuchatel; depending on how much boron has been deposited in the body, the diamonds have a weaker or stronger blue shimmer. The process from order to delivery usually takes two to four months, and the price depends on the carat weight of the gemstone ? between 4,800 and 10,000 Swiss francs ($5,300 to $11,085). (See why happens to your social networks when you die.)

An eternal end as a tree or a piece of jewelry? Dandy's and rock 'n' rollers laugh at the idea. Their perpetuation should of course be staged according to the way they lived their lives: unconventional, loud, hedonistic. Actor James Doohan (Scotty in the TV series "Star Trek") and LSD guru Timothy Leary had particularly cool send-offs. They both had their ashes attached to a rocket and sent into space. The price tag? Around $10,000.

Another original ? but far more sustainable ? offer comes from the British company And Vinyly, who rewrote the well known RIP (Rest in Peace) to RIV ? Rest in Vinyl. Specifically: the ashes of the deceased are processed into a working vinyl record. The simplest version costs $3,100, but that will get you 30 vinyl copies (enough for friends and relatives) onto which music or a recorded message can be pressed. One particularly spooky option: opt against a song or message and leave only the eerie crackling of ash to be heard on the blank disc. (See TIME's video, "YouTomb: Where the Rich and Famous Spend Eternity.")

Of course, it can all get much more extravagant. For $786, you can get a custom tune composed; and for a bit more cash, you can circulate your records in shops around the world. Or choose the ultimate option, which will run you $5,500: James Hague, a painter at the National Portrait Gallery, will use residual ash and acrylics to paint your face in gorgeous pastel colors onto the album covers.

Unlike Algordanza, whose diamond offer is strictly limited to human ashes, And Vinyly will also process your pet's ashes onto a record.

Those for who want to take Tupac's joint solution to the next level, should head on over to Thailand. There, a new drug concoction called "Tai Hong," in which cooked leaves of the Kratom tree are mixed with freshly cremated ashes, is quickly gaining popularity. Supposedly, not only does the drink have an exquisite flavor, but it also elicits a heightened state of consciousness ? usually not for too long, but just enough time to share an unforgettable farewell.

See a greener alternative to cremation.

See if we're heading to an American without cemeteries.

View this article on Time.com

Most Popular on Time.com:

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/time/20111019/wl_time/08599209733000

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Wednesday 19 October 2011

Asia stocks fall amid debt doubts, China slowdown (AP)

BANGKOK ? Asian stock markets tumbled Tuesday after China's robust economic growth slowed and German leaders warned that a comprehensive solution to Europe's debt crisis may not be near.

Oil prices lingered above $86 a barrel while the dollar was down against the euro but steady against the yen.

Japan's Nikkei 225 lost 1.5 percent to 8,747.76 and Hong Kong's Hang Seng plunged 3.3 percent to 18,243.31. South Korea's Kospi fell 1.3 percent to 1,841.84. Benchmarks in Singapore, Taiwan, Australia, Indonesia and the Philippines were also lower.

In mainland China, the Shanghai Composite Index dropped 1.7 percent to 2,399.58. The government announced that growth declined to 9.1 percent in the three months through September, down from 9.5 percent the previous quarter.

While the government said the slippage was in line with efforts to bring economic growth to a more sustainable level, any slowdown ? intentional or not ? could weigh on the global economic recovery.

"The number did come in a little lower than expected," said Jackson Wong, vice president of Tanrich Securities in Hong Kong. "That added to concerns of slower growth for the fourth quarter."

Shares of raw materials companies tumbled sharply over fears of slackening demand. Australia's BHP Billiton Ltd., the world's largest mining company, fell 3.6 percent. Fortescue Metals Group plummeted 9.2 percent and Energy Resources of Australia Ltd. tumbled 6.3 percent.

In Tokyo, KDDI Corp. lost 4.3 percent and Softbank was 3.2 percent lower on news that Samsung Electronics Co. had asked a court in Japan to block the sale of Apple's iPhone 4S, alleging patent infringements. KDDI and Softbank are both vendors of the new model in Japan.

Camera and precision instruments maker Olympus Corp. plunged 5.5 percent, days after firing its CEO. Media reports said Michael Woodford was dismissed Friday after challenging Olympus executives about questionable corporate governance practices and several acquisitions that occurred before he took the top job six months ago.

Concerns about a messy default by the Greek government have been the main cause behind many of the big swings on the world's stock markets lately.

The fear is that a default would cause deep losses for European banks that hold Greek bonds. That could lead to a freeze in lending between banks and escalate into another financial crisis similar to the one that occurred in 2008 after the collapse of Lehman Brothers.

Expectations that a solution to the European crisis could be reached at a European summit in Brussels this weekend helped lift stocks last week. But stock markets in Europe and the U.S. tumbled Monday after German Finance Minister Wolfgang Schaeuble said those expectations were too optimistic.

While all players in the European debt drama agree in principle on the need for a massive rescue package for the continent's most indebted countries, there remains sharp disagreement on who will ultimately pay for it, analysts said.

"Private banks don't want to pay if governments will do it. France doesn't want to pay if Germany will do it. Germany doesn't want to do it if the IMF will. The IMF doesn't want to if China will," DBS Bank Ltd. in Singapore said in a research note. "China doesn't want to pay unless Europe gets its house in order first."

On Monday, the Dow Jones industrial average dropped 2.1 percent to close at 11,397. The S&P 500 index lost 1.9 percent to 1,200.86. The Nasdaq composite index fell 2 percent to 2,614.92.

A batch of weak corporate earnings reports also pulled stocks lower, while news on the U.S. economy was mixed. A measure of U.S. industrial production rose for a third month, but a gauge of New York area manufacturing fell more than Wall Street expected.

Benchmark oil for November delivery was up 10 cents to $86.48 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 42 cents to finish at $86.38 per barrel on Monday on the Nymex.

In currencies, the euro rose to $1.3770 from $1.3742 late Monday in New York. The dollar was steady at 76.82 yen.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20111018/ap_on_bi_ge/world_markets

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Tuesday 18 October 2011

Wall Street Week: S&P 500 index poised to extend streak (Reuters)

NEW YORK (Reuters) ? With one-third of the Dow components and crowd favorite, Apple, reporting results next week, stocks are setting the stage for another week of gains.

After the steepest two-week rally in more than two years, the S&P 500 is at the top end of its range for the past two months.

The benchmark closed Friday above 1,220 for the first time since early August, and bets against the recent rally could start to pile up.

But Monday earnings and guidance from IBM (IBM.N), followed by results from Apple (AAPL.O), Coca-Cola (KO.N) and Intel (INTC.O) on Tuesday could give shorts a reason to put their guns down. The S&P could be on its way to a third straight winning week --a streak not seen since February.

"There are some fundamental catalysts which could play right into the momentum," said Richard Ross, global technical strategist for Auerbach Grayson in New York.

He said the S&P 500 "has potential to take out that well defined resistance (at 1,220) and it would be a fast move up to the next level, between 1,265 and 1,275."

The sharp turnaround in stocks from a 2011 low hit October 4 took many by surprise, and buying has spurred more buying as traders and money managers try to catch up with the benchmark's performance.

The pattern repeated itself Friday, with the three major indexes closing at or near session highs.

For the week, the Dow Jones industrial average (.DJI) gained 4.9 percent, the S&P 500 (.SPX) added 6 percent, and the Nasdaq Composite (.IXIC) rose 7.6 percent.

Ten of the 30 Dow components, including Microsoft (MSFT.O), American Express (AXP.N) and Johnson & Johnson (JNJ.N), are scheduled to report quarterly results next week.

Big financial names expected to report include Citigroup (C.N), Goldman Sachs (GS.N) and Wells Fargo (WFC.N), which follow Thursday's earnings disappointment from JPMorgan Chase & Co (JPM.N) that battered the sector.

Reported and estimated earnings growth for the current earnings season is seen at 12.4 percent for all S&P 500 companies, according to Thomson Reuters data. That is down from this year's estimate peak of 17 percent in July.

But companies like Apple and IBM, which hit lifetime closing highs on Friday, are expected to trounce expectations. And positive surprises could play into the buying momentum.

"Price will start to discount even more optimism," said Wasif Latif, vice president of equity investments at the San Antonio, Texas-based USAA Investment Management, which manages about $45 billion in mutual funds.

"Growth companies, given the high expectations, need to have a 'wow' factor when it comes to reporting and beating earnings," he said, adding it was certainly possible for these two names to rise further.

The VIX volatility gauge (.VIX) has declined in the past weeks, closing on Friday at its lowest level since August 3. That could translate into less uncertainty and more of the buying frenzy that drove the S&P 500 to its largest two-week percentage advance since mid 2009.

ECONOMY: LESS BAD THAN FEARED

Softening economic numbers in the United States and abroad, as well as a grinding expansion of the euro zone sovereign debt crisis, stymied investors and drove stocks and commodity prices to heavy losses in the third quarter.

But despite Greece's slow crawl toward a default and rising borrowing costs in Spain and Italy, the perception of efficient action in Europe gave investors the confidence to return to equities --or at least cover their short bets.

Economic numbers, expected at a certain point in the summer to show the U.S. economy was sliding back into recession, have generally come in above those lowered estimates.

USAA's Latif said that even if current levels are subdued and expectations are lowered "it's definitely very encouraging" to have data land better than expected.

Among the main economic indicators due next week are industrial production and capacity utilization on Monday; producer and consumer inflation on Tuesday and Wednesday, respectively; and weekly jobless claims on Thursday. The week closes with the final reading of the Reuters/University of Michigan consumer sentiment index.

(This story corrects the Oct. 14 version in the seventh paragraph to make clear 2011 low was hit Oct. 4)

(Wall St Week Ahead runs every Friday)

(Reporting by Rodrigo Campos; Editing by Kenneth Barry)

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/nm/20111016/bs_nm/us_markets_stocks_weekahead

steve bartman

Monday 17 October 2011

Maintaining Ducks Since Pets | Joomla Template Providers

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Source: http://www.joomlaskins.com/2011/10/16/maintaining-ducks-since-pets/

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