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• Anika Therapeutics (ANIK) Reports Record First-Quarter Revenue and Earnings More...
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• Feds Arrest Thieves Who Fleeced Eli Lilly and Company (LLY) Warehouse in $70 Million Heist More...
• Pfizer Inc. (PFE)'s Lyrica Fails Two Pain Studies More...
• Raptor Pharmaceutical Inc. (RPTP) Announces Publication of Phase 3 Results in the Clinical Journal of the American Society of Nephrology More...
• Argos Therapeutics, Inc. Gets Encouraging Results from Study More...
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The U.S. Treasury Department said on Friday it plans a third sale of the common stock of American International Group that it acquired as part of the government bailout of the insurer in 2008 at the height of the financial crisis. Whether it is the right time to public offering as markets are still struggling with anemic recovery and Europe is already in a painful recession time? Is the demand for risky assets are still healthy?
The Treasury said the size and price of the offering are to be determined. Buyers purchased $6 billion of AIG common stock in March and $5.8 billion worth in May 2011.
AIG has said it intends to buy up to $2 billion of the stock sold in the offering, the Treasury Department said in a statement. AIG bought around $3 billion worth of stock in the March sale, a Treasury official said.
The Treasury and the Federal Reserve made $182 billion available to prop up the company, which couldn't meet its credit-insurance obligations when housing markets crashed. U.S. authorities retain approximately $44 billion of that investment, a Treasury official said.
The AIG rescue was the largest U.S. government bailout of a private company in history.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan and Morgan Stanley have been hired as bookrunners for the offering, Treasury said.
Treasury said last month it expects that many of the financial-crisis programs it and other banking authorities implemented will end up making a profit for taxpayers.
The Treasury said the size and price of the offering are to be determined. Buyers purchased $6 billion of AIG common stock in March and $5.8 billion worth in May 2011.
AIG has said it intends to buy up to $2 billion of the stock sold in the offering, the Treasury Department said in a statement. AIG bought around $3 billion worth of stock in the March sale, a Treasury official said.
The Treasury and the Federal Reserve made $182 billion available to prop up the company, which couldn't meet its credit-insurance obligations when housing markets crashed. U.S. authorities retain approximately $44 billion of that investment, a Treasury official said.
The AIG rescue was the largest U.S. government bailout of a private company in history.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan and Morgan Stanley have been hired as bookrunners for the offering, Treasury said.
Treasury said last month it expects that many of the financial-crisis programs it and other banking authorities implemented will end up making a profit for taxpayers.
Instead of throwing gallons and gallons of insecticide on a whole farm, a new device would help farmers track down exactly where pests are hiding out, allowing them to give a smaller--but more effective--dose.
Organic is great, but in many parts of the world, farmers can’t sit around while pests eat their crops. Like it or not, insecticides are an important part of global agriculture. But what if we could at least use a lot less of it?
When you see farmers dousing their fields in insecticides, you might think that there are bugs in every corner of the field. But, according to Eamonn Keogh, a professor at UC Riverside, that’s often not the case. Unwanted insects sit in clusters, he says. And if you know where they are, you can target them, without spraying so indiscriminately. That means less pesticides for the rest of us.
That’s the idea of a project being developed by Keogh and his colleagues, which aims to give farmers more detailed information of where exactly insects are, and consequently where to deploy pesticides. He hopes the project will help cut pollution, reduce costs for farmers, and possibly alleviate the problem of insects becoming resistant to certain chemicals.
The idea is to put multiple sensors all over a farm, gathering information on insect locations hour-to-hour. By feeding that data into a central server, and combining it with information like weather forecasting, the system can then generate "heat-maps" for the farmer showing what areas need to be sprayed, and which areas can be left alone.
"I realized that if you knew, magically, where all the insects were, you could do very magical things," says Keogh. "Right now, if you want use pesticide on a citrus or avocado field, you typically have to go up in a plane or helicopter and spray the entire field. [With our device], you could spray a tiny bit in a localized spaces, and get the same effect."
Keogh compares spraying a whole field to a doctor treating a burnt fingertip with an all-over-body cream--overkill, in other words (though he does concede that some infestations require more drastic responses).
The device contains a laser pointed at a light-sensitive diode, or switch. When a bug crosses the beam, it generates a signal, which can be amplified, and analyzed, to suggest which animals are where.
Currently, farmers often use a sticky trap, which means they have to visit fields in person--a time-waster--and become semi-expert entomologists. Keogh says farmers find it hard to tell the difference between bugs that are going to do harm, and those that are actually beneficial, for example for pollination.
The project, which UC Riverside researchers are developing with a private company, has just won a prize from the Vodafone Americas Foundation. The sensors will probably be linked via a cell-phone network, though the exact details are still being worked out. The device is yet to be tested in field conditions. And the researchers cannot yet to distinguish between all insect species--some bugs are good to have around.
Keogh says he would like to sell the device to farmers in the developed world, as a way of subsidizing deployment in poorer countries. "We’re going to sell this to American producers, who’ll pay a premium to get beautiful, spotless apples, and then use the profit to help the developing world," he says.
The cost of the sensor has already fallen from $400 to about $25. But Keogh thinks a mass-market manufacturer, like Sony, could make them at about $2. The important thing, he says, is that the sensors are affordable and not worth stealing for parts.
The bug sensor is just an idea Keogh is pursuing as part of his plan to bring computer know-how to insect-related problem. He thinks "computational entomology" could also help with malaria research, and other agricultural pests.
At 1 am on May 6, the full moon will be at 3,56,954 km from the centre of the earth. This will be the closest full moon to earth since January 1912. The moon will appear larger in the sky than at any time. This event is also referred to as ‘Supermoon’.
Early Sunday will see the moon’s closest encounter with earth since March 19, 2011, when the moon was a scant 380 kilometers closer to earth. The next time a similar occurrence will take place is not until August 10, 2014. Astronomers are estimating that the supermoon will be around 14 per cent brighter and 30 per cent bigger than the average full moon.
Previous supermoons were sighted in 1955, 1974, 1992, 2005 and 2011, all of which had their share of extreme weather and natural disasters. From extreme coastal tides to severe storms, powerful earthquakes and volcanic eruptions, the entire natural world surges under the sway of the supermoon alignment.
Early Sunday will see the moon’s closest encounter with earth since March 19, 2011, when the moon was a scant 380 kilometers closer to earth. The next time a similar occurrence will take place is not until August 10, 2014. Astronomers are estimating that the supermoon will be around 14 per cent brighter and 30 per cent bigger than the average full moon.
Previous supermoons were sighted in 1955, 1974, 1992, 2005 and 2011, all of which had their share of extreme weather and natural disasters. From extreme coastal tides to severe storms, powerful earthquakes and volcanic eruptions, the entire natural world surges under the sway of the supermoon alignment.
Dolby Laboratories Inc |
Dolby, which this week won the naming rights for the theater that hosts the Oscars, said the Microsoft deal won’t add to fiscal 2012 earnings, since the product isn’t expected to ship until the company’s 2013 period. Dolby narrowed its forecast for the current year.
“The profile of the PC segment is materially improved by the Win8 deal and the company is intensifying its focus on new initiatives,” including mobile and other devices that deliver Internet content, Michael Olson, a Piper Jaffray Cos. analyst, said in a note.
Dolby “is still facing headwinds from flat or declining end-market unit shipments in some segments,” said Olson, who rates (DLB) the shares the equivalent of hold.
The company narrowed its full-year sales guidance to as much as $960 million for the year ending Sept. 30. It previously predicted (DLB) revenue of as much as $970 million.
“Dolby Digital Plus on Windows 8 will enable more people to enjoy cinematic sound anytime, anywhere, and on any device,” Ramzi Haidamus, executive vice president, sales and marketing, said in a statement yesterday.
Earnings
Dolby yesterday reported earnings excluding certain items of 91 cents a share for the second quarter, ended March 30. That topped the average estimate of 81 cents a share from analysts in a Bloomberg survey. Revenue increased 4 percent to $260.3 million. Analysts had predicted $253.1 million.
Body Central Corp |
Trade Tips : Body Central Stock will see more downside later today as well as in next trading session. trader may buy it at the end of second trading session from now and expect a little bounce back.
Below is the press release from reuters:
"We continue to see softness in overall store sales trends through April," Chief Executive Allen Weinstein said.
The company expects second-quarter comparable store sales to fall 5 percent to 7 percent, compared with a 15 percent rise in the year-ago period.
The company said it expects to earn 26 to 28 cents per share, on revenue of $80 million to $82 million in the second quarter.
Analysts were expecting earnings of 36 cents a share on revenue of $86.6 million, according to Thomson Reuters I/B/E/S.
The company posted first-quarter results that met Wall Street view of 36 cents per share. Revenue was $82.7 million, slightly above analysts' average expectation of $82.1 million.
The company's shares were down $8.72 in after-market trade. They had closed at $28.92 on Thursday on the Nasdaq.
"We continue to see softness in overall store sales trends through April," Chief Executive Allen Weinstein said.
The company expects second-quarter comparable store sales to fall 5 percent to 7 percent, compared with a 15 percent rise in the year-ago period.
The company said it expects to earn 26 to 28 cents per share, on revenue of $80 million to $82 million in the second quarter.
Analysts were expecting earnings of 36 cents a share on revenue of $86.6 million, according to Thomson Reuters I/B/E/S.
The company posted first-quarter results that met Wall Street view of 36 cents per share. Revenue was $82.7 million, slightly above analysts' average expectation of $82.1 million.
The company's shares were down $8.72 in after-market trade. They had closed at $28.92 on Thursday on the Nasdaq.
Facebook Joins GNI, Declines Human Rights Auditing
Under pressure from lawmakers, Facebook has joined the Global Network Initiative (GNI) as an observer. The GNI is a mixed consortium of public, private, educational, and religious institutions that monitor Internet firms on free speech- and human rights-related issues. Facebook is the first organization to join under a special "observer" status that does not require them to submit to auditing. Yahoo, Google, and Microsoft, the three largest firms to participate in the GNI, all open their inner doings and records for examination. Facebook is believed to have joined in preparation for its upcoming IPO.
Nokia Hit With Class Action Suit by shareholders
Via TheNextWeb: Nokia is having a rough year. As the company struggles to regain lost smartphone marketshare in U.S. and Europe, shareholders just filed a class action suit against the company for misleading statements execs made in the last fiscal year about the future of the company and the move to the Windows Phone operating system. The trigger for this was the company's Q1 earnings in which Nokia did not reveal the turnaround that Nokia execs promised. Rather, the Lumia 900 was found to be faulty, forcing Nokia to severely cut its price.
George Mason University Heads Off Gang Recruitment With Computer Games
Via Fairfax News, Washington Post: Students at Virginia's George Mason University are creating computer games and mobile apps intended to educate middle schoolers and high schoolers and ward off gang recruitment. It's a partnership between the university's Computer Game Design program and the state attorney's office which advised the group through the app building process. Fairfax News had a peek at three completed games that the students created--“A Second Family," “Influenced,” and “New Kid on the Block,”--which will be made available online this summer. H/T The Verge.
SAMSUNG LAUNCHED GALAXY SIII SMARTPHONE, WILL IT CHALLENGE IPHONE FROM APPLE INC?
Samsung Electronics unveiled a new top-of-the-range Galaxy smartphone in London on Thursday, updating the most direct rival to Apple's iPhone with a larger touch screen and more powerful processor.
Under pressure from lawmakers, Facebook has joined the Global Network Initiative (GNI) as an observer. The GNI is a mixed consortium of public, private, educational, and religious institutions that monitor Internet firms on free speech- and human rights-related issues. Facebook is the first organization to join under a special "observer" status that does not require them to submit to auditing. Yahoo, Google, and Microsoft, the three largest firms to participate in the GNI, all open their inner doings and records for examination. Facebook is believed to have joined in preparation for its upcoming IPO.
Nokia Hit With Class Action Suit by shareholders
Via TheNextWeb: Nokia is having a rough year. As the company struggles to regain lost smartphone marketshare in U.S. and Europe, shareholders just filed a class action suit against the company for misleading statements execs made in the last fiscal year about the future of the company and the move to the Windows Phone operating system. The trigger for this was the company's Q1 earnings in which Nokia did not reveal the turnaround that Nokia execs promised. Rather, the Lumia 900 was found to be faulty, forcing Nokia to severely cut its price.
George Mason University Heads Off Gang Recruitment With Computer Games
Via Fairfax News, Washington Post: Students at Virginia's George Mason University are creating computer games and mobile apps intended to educate middle schoolers and high schoolers and ward off gang recruitment. It's a partnership between the university's Computer Game Design program and the state attorney's office which advised the group through the app building process. Fairfax News had a peek at three completed games that the students created--“A Second Family," “Influenced,” and “New Kid on the Block,”--which will be made available online this summer. H/T The Verge.
SAMSUNG LAUNCHED GALAXY SIII SMARTPHONE, WILL IT CHALLENGE IPHONE FROM APPLE INC?
Samsung Electronics unveiled a new top-of-the-range Galaxy smartphone in London on Thursday, updating the most direct rival to Apple's iPhone with a larger touch screen and more powerful processor.
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The Galaxy S III is official now. Samsung Electronics has unveiled its much-awaited third generation Galaxy S - the Galaxy S III. The smartphone is touted to recognise your voice, understands your intention, and lets you share a moment instantly and easily.
The phone features a 4.8 inch HD Super AMOLED display with a resolution of 1280 x 720 pixels. It has an 8 megapixel rear camera with flash and zero shutter lag and a 1.9 megapixel front camera, which are believed to offer users a wide variety of camera features and face recognition related options.
Weighing 133g, the phone is only 8.6 mm thick. The Samsung Galaxy S III runs Android 4.0, Ice Cream Sandwich, operating system. The new Galaxy will be powered by Samsung's quad-core microprocessor.
The Exynos 4 Quad, based on British chip designer ARM Holdings Cortex A9 technology, enables more tasks in a shorter period of time - for example streaming video can run on one core while the other cores update applications, connect to the web and scan virus-check, simultaneously.
The phone will come in three models - 16GB, 32GB and 64GB. The 64GB version is coming later, and the company says it will be available soon. The memory of the Galaxy S III is expandable up to 64GB, using a microSD card. The phone is engineered with a 2100 mAh battery.
The connectivity options icnlude WiFi a/b/g/n, NFC and Bluetooth 4.0(LE). Initially, the Galaxy S III will be available in Pebble Blue and Marble White. Samsung says to introduce a variety of additional color options later.
The Galaxy S III features 'S Voice,' the advanced natural language user interface, to listen and respond to your words. In addition, this feature is claimed to present powerful functions in regards to device control and commands. For instance, when your phone alarm goes off but you need a little extra rest, just tell the Galaxy S III "snooze." Also, you can use this feature to play your favorite songs, turn the volume up or down, send text messages and emails, organise your schedules, or automatically launch the camera and capture a photo.
Besides your voice, the phone understands your motions also. It has a "Direct call" feature, which means if you are messaging someone but decide to call them instead, simply lift your phone to your ear and "Direct call" will dial their number.
Moreover, the phone has another interesting feature - Smart alert. The phone is claimed to save you from trouble by catching any missed messages or calls; the phone will vibrate to notify missed statuses when picked up after being idle.
With the new "S Beam," the Galaxy S III expands upon Android Beam, thereby allows a 1GB movie file to be shared within three minutes and a 10MB music file within two seconds by simply touching another Galaxy S III phone, even without a Wi-Fi or cellular signal. Its "Buddy photo share" also allows photos to simultaneously shared with all your friends pictured in an image directly from the camera or the photo gallery.
It has much more to offer. With 'AllShare Cast,' users can wirelessly connect their Galaxy S III to their television to immediately transfer smartphone content onto a larger display.
With a view to ensure faster content sharing and connectivity, the smartphone offers Wi-Fi Channel Bonding which doubles the Wi-Fi bandwidth.
Samsung introduces 'Pop up play,' feature that allows users to play a video anywhere on the screen while simultaneously running other tasks. It eliminates the need to close and restart videos when checking new emails or surfing the Web.
The global version is said to support 21Mbps HSPA+, however certain local models will have 4G. The Galaxy S III 4G version will be available in North America, Japan, and Korea during this summer. The Galaxy S III will be launched in 145 countries.
The phone will be available from May 29 in Europe before rolling out to other markets globally.
The phone features a 4.8 inch HD Super AMOLED display with a resolution of 1280 x 720 pixels. It has an 8 megapixel rear camera with flash and zero shutter lag and a 1.9 megapixel front camera, which are believed to offer users a wide variety of camera features and face recognition related options.
Weighing 133g, the phone is only 8.6 mm thick. The Samsung Galaxy S III runs Android 4.0, Ice Cream Sandwich, operating system. The new Galaxy will be powered by Samsung's quad-core microprocessor.
The Exynos 4 Quad, based on British chip designer ARM Holdings Cortex A9 technology, enables more tasks in a shorter period of time - for example streaming video can run on one core while the other cores update applications, connect to the web and scan virus-check, simultaneously.
The phone will come in three models - 16GB, 32GB and 64GB. The 64GB version is coming later, and the company says it will be available soon. The memory of the Galaxy S III is expandable up to 64GB, using a microSD card. The phone is engineered with a 2100 mAh battery.
The connectivity options icnlude WiFi a/b/g/n, NFC and Bluetooth 4.0(LE). Initially, the Galaxy S III will be available in Pebble Blue and Marble White. Samsung says to introduce a variety of additional color options later.
The Galaxy S III features 'S Voice,' the advanced natural language user interface, to listen and respond to your words. In addition, this feature is claimed to present powerful functions in regards to device control and commands. For instance, when your phone alarm goes off but you need a little extra rest, just tell the Galaxy S III "snooze." Also, you can use this feature to play your favorite songs, turn the volume up or down, send text messages and emails, organise your schedules, or automatically launch the camera and capture a photo.
Besides your voice, the phone understands your motions also. It has a "Direct call" feature, which means if you are messaging someone but decide to call them instead, simply lift your phone to your ear and "Direct call" will dial their number.
Moreover, the phone has another interesting feature - Smart alert. The phone is claimed to save you from trouble by catching any missed messages or calls; the phone will vibrate to notify missed statuses when picked up after being idle.
With the new "S Beam," the Galaxy S III expands upon Android Beam, thereby allows a 1GB movie file to be shared within three minutes and a 10MB music file within two seconds by simply touching another Galaxy S III phone, even without a Wi-Fi or cellular signal. Its "Buddy photo share" also allows photos to simultaneously shared with all your friends pictured in an image directly from the camera or the photo gallery.
It has much more to offer. With 'AllShare Cast,' users can wirelessly connect their Galaxy S III to their television to immediately transfer smartphone content onto a larger display.
With a view to ensure faster content sharing and connectivity, the smartphone offers Wi-Fi Channel Bonding which doubles the Wi-Fi bandwidth.
Samsung introduces 'Pop up play,' feature that allows users to play a video anywhere on the screen while simultaneously running other tasks. It eliminates the need to close and restart videos when checking new emails or surfing the Web.
The global version is said to support 21Mbps HSPA+, however certain local models will have 4G. The Galaxy S III 4G version will be available in North America, Japan, and Korea during this summer. The Galaxy S III will be launched in 145 countries.
The phone will be available from May 29 in Europe before rolling out to other markets globally.
Samsung Electronics unveiled a new top-of-the-range Galaxy smartphone in London on Thursday, updating the most direct rival to Apple's iPhone with a larger touch screen and more powerful processor.
The new Galaxy S III smartphone displayed for attendees during the global launch event in London, U.K., on Thursday.
The South Korean technology group, which overtook Finnish company Nokia as the world's biggest cellphone maker earlier this year, said the new Galaxy SIII model would go on sale in some markets in late May and around the world from June.
Last week, Samsung reported a record $5.2 billion quarterly profit, boosted by Galaxy smartphone range whose sales outstripped the iPhone.
Samsung sold around 45 million smartphones in the first quarter and contributed most of its operating profit.
The new Galaxy SIII model will have a 4.8 inch touch screen, 8 megapixel camera and will use the latest version of Google's Android software.
Analysts said the expected massive marketing campaign and features of the handset - billed as the official smartphone of the London 2012 Olympics - were likely enough to generate strong sales, but the launch left many of them unexcited.
"It is not an eye-catching device that will overwhelm consumers," said IDC analyst Francisco Jeronimo.
The blue lights in the launch venue downtown London, echoing the cold rainy day outside, and the background sounds of nature, which Samsung said inspired the design, resulted in a fairly muted atmosphere in the room.
Won-Pyo Hong, head of product strategy at Samsung's mobile business, said it expected sales of the Galaxy SIII to outstrip predecessor SII's more than 20 million units."Definitely, we expect so. The level of interest from our partners has been bigger," Hong told Reuters in an interview. He said the marketing budget would also increase, even if brand awareness was already quite high."We need to spend more on marketing to address consumer interest and to meet requirements of our partners," he said.Analysts said the new device represented a formidable challenge to rivals, given a combination of the Galaxy brand, sales support from operators and heavy marketing."Samsung must make the most of a 4-5 month window of opportunity with the Galaxy SIII before Apple changes the game once more with its next generation iPhone," said Geoff Blaber, analyst at CCS Insight.The new Galaxy will be powered by Samsung's quad-core microprocessor, which the company hopes will also be used in handsets made by HTC and Motorola, as well as Apple, its biggest customer for components.The Exynos 4 Quad, based on British chip designer ARM Holdings Cortex A9 technology, enables more tasks in a shorter period of time - for example streaming video can run on one core while the other cores update applications, connect to the web and scan virus-check, simultaneously.
On Top of Smartphone WorldApple and Samsung's near duopoly in high-end smartphones was not expected to come under threat this year or next."Samsung is now the only company that can compete with Apple and challenge it in the smartphone segment," said IDC's Jeronimo.Samsung shares hit a lifetime high after its first-quarter results, pushing its market value to $190 billion, 11 times that of Japanese rival Sony, though still only a third of Apple's, the world's most valuable company.In stark contrast shares in Nokia, whose betting on a tie-up with Microsoft to revive its fortunes in the lucrative smartphone market, are at a 15-year low. Nokia said last month it would make a first-half loss as it struggles to revamp its product line.Technology research firm Ovum said in a note on Thursday it expected Microsoft to establish its Windows Phone as a relevant smartphone platform only by 2017.At its annual meeting on Thursday, Nokia's chairman-designate defended the group's turnaround strategy to investors losing patience with its efforts to catch up.