Yesterday, there was some buying emerged at lower levels and Nifty turned into positive territory intraday but it couldn't sustained at those levels and retreated but still off its lows. Markets are struggling to hold the current levels and any positive news might help Nifty to bounce back in near term, but Greece will hold a wild card to the course of market move. Greece has a debt repayment of $436 million due today, but there is no decision taken as of yet and might follow in to default if it fails to pay it within 30 days from now.US markets were loosing grounds and s&p 500 closed below critical 1340 level. Volatility index spiked close to 22 which may feared as panic situation and more sell off looming according to Citigroup analyst.
Nifty Trading Tips & Outlook
Trading in Nifty will be more cautious as US markets were started loosing grounds and Asia is already oversold due to Greek fear. One should short Nifty either at current levels or around 4950 levels. The downside will be limited , so one should be cautious if short Nifty at current levels. Sell on Rise will be better strategy to manage risk reward situation in favor.
Check out previous recommendation here
Check out previous recommendation here
The social networking giant is expected to disclose the new range in an updated IPO filing with the Securities and Exchange Commission that could come as early as Tuesday morning, according to one of these people. At $38, the company would be valued at roughly $103 billion.
Facebook has seen strong demand from investors: the deal became highly oversubscribed only a few days after the company began marketing the deal on its IPO roadshow last week.
Facebook is expected to price the offering on Thursday night, and begin trading on the Nasdaq on Friday under the ticker “FB”.
The deal is being led by Morgan Stanley, JPMorgan and Goldman Sachs, with a total of 33 banks acting as advisors.
Facebook declined to comment on the IPO.
Keryx Biopharmaceuticals ( NASDAQ: KERX ), stock moving higher without any news or announcement from the company. Stock has jumped more than 50 % in last 3 trading session. Active penny stock traders might follow the stock for possible developments from the company. Stock trading at $2.20.
Watch out for big move.
The toughest part of being the first boat to sail the 37,286 miles around the world using only solar power turns out not to be, say, that the sun won’t shine, or that machinery will break down. It’s a more common problem associated with shipping these days: pirates.
Raphaël Domjan, a Swiss national, who has just returned to Monaco after a 19-month journey aboard the MS Tûranor PlanetSolar says by far the hairiest bit was crossing the Gulf of Aden, a notorious place for kidnapping and hijacking.
"It was one month with soldiers onboard, and a lot of stress," he says. "We were at 5 knots with the solar energy, and we were between Yemen and Somalia. In Yemen, with the soldiers and guns we had, we could have gone to jail. And in Somalia, we could be hostages, and eat rice for one year."
It’s more normal for ships crossing the stretch to go at 15 to 20 knots, to make it as quickly as possible. And Domjan says most boats that do it are a lot larger than the Tûranor, which is 115 feet long and 75 feet wide.
To get the best sunlight, the four-strong crew followed the equator as closely as possible. Leaving the Mediterranean, they went across the Atlantic to Miami, and then down through the Panama Canal, across the Pacific and the Indian Ocean, and eventually through the Suez Canal.
Domjan says the solar power worked almost perfectly, powering the boat and everything onboard except for a gas-powered cooker. He says the crew never feared it would run out of power, because even on dark days the panels could generate some power. "We had one whole week of bad weather, and we were able to manage," he says. Batteries provided three days of back-up power, if needed.
Domjan says the point of the expedition was to prove that solar power is "for today and not tomorrow," and that it’s possible to be "optimistic" about the future of energy, despite gloom about its cost, and the worsening threat of climate change.
"We know that climate change is a challenge for our civilization, but there are also opportunities, and we have to be optimistic," he says.
An important part of the voyage, as with other renewable energy expeditions, was to stop in different locations to show off the boat, and make the case for solar. In all, the boat stopped 28 times, including in Tangier, the Galápagos, Brisbane, and Abu Dhabi.
Domjan says the boat could have gone nonstop, but probably would have taken a different route round the world’s three main capes to do so.
Aside from becoming a world record holder, Domjan says he wants the world to know that solar power can be used in many different boats if inventors put their mind to designing them.
"We can use solar boats for diving boats and tourism. Not everywhere but in many places," he says.
"It’s very nice because you have no noise and no vibration. To see the wildlife and the dolphins, it’s much better than on a normal motor boat." You just need to avoid those pirates.
Best Buy Chairman Steps Down
Via Reuters: Best Buy founder Richard Schulze has resigned as chairman of the company he started in 1966. An investigation revealed that Schulze knew about ex-CEO Brian Dunn's improper relationship with a female co-worker. Schulze has admitted that he found about the relationship and "confronted" Dunn, but failed to inform the board. This is the latest leadership shakeup for the company (Dunn resigned in early April) which is being challenged by online electronics merchants like Amazon.
Small And Smaller: Apple And Intel's Vision Of Chip Innovation
Via Engadget, TechEye: Thanks to Intel and Apple, chips are shrinking, and could lead to future devices that are smaller, faster, and better-behaved battery hogs. Reports have leaked about Paul Otellini, Intel chief's grand plans for tiny chip innovation as small as 10 nanometers, targeted to hit the market by 2015. For the latest manifestation of the ongoing slide towards tinier chips, you only need look as far as the newest versions of Apple's iPad 2. Codenamed the iPad 2,4, the new models are coming outfitted with a newer, smaller chip about three quarters the size of earlier versions (and three times the size of Otellini's 2015 target), that has 16 percent more battery life.
Meyer Sound Wires Eatery For Custom Noise Control
Via the San Francisco Chronicle: Restaurants are modernizing their interiors with online booking features and touch-screen ordering options, but one restaurant in California is remodeling a more subtle part of the dining experience--noise. Comal, a Mexican restaurant in Berkeley, is wired with a high-tech noise control system made by Meyer Sound, featuring equipment that's usually found in concert halls and recording studios. Art on the walls hide noise dampeners, and an army of microphones all around the restaurant pick up noise in the room as patrons bite down on their burritos. Depending on how busy (or buzzy) he wants his restaurant to feel, owner and ex-band manager John Paluska lets the sound back into the restaurant, controlling the system with his iPad.
Internet Crime Report Records $485 Million Lost To Scams In 2011
The Internet Crime Complaint Center, or IC3 as the group is also known, has released its annual Internet Crime Report for 2011. The center received 314,246 complaints during the year, adding up to an estimated $485 million in losses for the year. The most commonly reported scams were FBI-related, in which victims would encounter criminals posing as the FBI. Romance scams on dating forums and chat rooms, in which "scammers use poetry, flowers and other gifts to reel in victims, while declaring 'undying love,'" accounted for about $50 million in known losses over the year (about $5,700 every hour). Identity theft, auto auction frauds (in which criminals posted sale ads for vehicles that they did not own) and loan intimidation schemes (particularly nefarious because criminals provided accurate personal details of their victims like their social security number or bank account number) were also major culprits.
Yahoo's CEO Saga Sees Thompson Out, Levinsohn In
Yahoo CEO Scott Thompson has now left his post, in a dramatic and speedy switch after the company had seemed to drag its heels in dealing with Thompson's falsified résumé. According to AllThingsD Thompson will say he's leaving for "personal reasons." His replacement comes from inside Yahoo's ranks, having recently headed its American unit and being a senior executive at Fox before that. As part of the closure of the Thompson affair, new board member Fred Amoroso--involved in inestigating Thompson--will be promoted to being chairman of the board.
Update: As reported by the Wall Street Journal, prior to resigning Scott Thompson disclosed to the board of directors of Yahoo that he has very recently been diagnosed with thyroid cancer. This explains the "personal" nature of his resignation, although details are still scarce.
The merger consideration represents an approximately 48% percent premium over the closing price of Tii Network Technologies' common stock as quoted on the website of the NASDAQ Stock Market on May 11, 2012.
Kelta intends to fund the acquisition with a combination of existing cash and funds available under Kelta's current credit facilities.
Brian Kelley, President and Chief Executive Officer of Tii Network Technologies, said, "...Not only does it provide our stockholders with a significant premium to the market price of our stock, it also represents a significant benefit to our customers and employees. We have had a positive, long term working relationship with Kelta, the contract manufacturer of our products. With Kelta's financial and other resources and capabilities, the Company will be better able to develop and produce new and improved products to meet the ever changing technology requirements of our Telco customers."
Tii Network Technologies expects the transaction to close in the third quarter of 2012.
Shutterstock Inc., the online seller of stock photos and images, filed to raise $115 million in a U.S. initial public offering.
Shutterstock applied to list on the New York Stock Exchange under the symbol SSTK, according to a regulatory filing today. The New York-based company didn’t say how many shares it’s offering or at what price. The $115 million is a placeholder used to calculate registration fees and may change.
Shutterstock generated revenue from more than 550,000 active users in 2011 and has a library of more than 19 million images for sale, the filing shows. The site collects pictures from contributors, who receive fees when their material is downloaded by paying customers.
The company, led by Chief Executive Officer Jonathan Oringer, posted $120.3 million in sales last year, a 45 percent increase. Net income rose 15 percent to $21.9 million, its filing shows.
Oringer is Shutterstock’s largest shareholder, and Insight Venture Partners also has a stake, the filing shows, without specifying percentages. Morgan Stanley, Deutsche Bank AG and Jefferies Group Inc. are leading the offering.
Shutterstock applied to list on the New York Stock Exchange under the symbol SSTK, according to a regulatory filing today. The New York-based company didn’t say how many shares it’s offering or at what price. The $115 million is a placeholder used to calculate registration fees and may change.
Shutterstock generated revenue from more than 550,000 active users in 2011 and has a library of more than 19 million images for sale, the filing shows. The site collects pictures from contributors, who receive fees when their material is downloaded by paying customers.
The company, led by Chief Executive Officer Jonathan Oringer, posted $120.3 million in sales last year, a 45 percent increase. Net income rose 15 percent to $21.9 million, its filing shows.
Oringer is Shutterstock’s largest shareholder, and Insight Venture Partners also has a stake, the filing shows, without specifying percentages. Morgan Stanley, Deutsche Bank AG and Jefferies Group Inc. are leading the offering.
The show Satyamev Jayate is really bringing the change in a society and important thing is that actions are taken in no time from authoritative government agencies. It will really help the society to see the much needed change. Aamir Khan and Satyamev Jayate might be a new"Time" Magazine Cover soon.
After the broadcast of First Episode of Satyamev Jayate about female foeticide, Rajasthan Government and Madhya Pradesh Government have took immediate steps to show a support to the society. Whether it will really lead to change or just a cheap publicity from government, we will see in future. But clearly the effect of the show is visible.
 |
| Satyamev Jayate |
Just three days before the much talked about episode of the Aamir Khan hosted Satyamev Jayate on child sexual abuse, the Rajya Sabha passed The Protection of Children from Sexual Offences Bill, 2011.
The Bill seeks to protect children from sexual abuse with provision for setting up special courts for speedy trial and stringent punishment including life sentence for committing sexual assault on minors under the age of 16.
Iran Begins To Lock Out The World From Its Intranet, Beginning With Email
Iran has just forbidden its nationals working in certain institutions to only use it's own Iranian-sourced email providers, and to stop interacting with emails received from any other source--effectively forbidding access to the outside world by email. The move affects employees in banks, insurance firms and telecoms companies. Universities are similarly affected, which also closes off email access by Iran's academics and researchers. The government argues it's to prevent scraping of data from email by foreign entities, but it looks a lot like one of the primary moves to create a long-rumored Iran-only intranet in reaction to the use of the net to foment anti-government resistance and spread news of Iran's treatment of its population.
Iran has just forbidden its nationals working in certain institutions to only use it's own Iranian-sourced email providers, and to stop interacting with emails received from any other source--effectively forbidding access to the outside world by email. The move affects employees in banks, insurance firms and telecoms companies. Universities are similarly affected, which also closes off email access by Iran's academics and researchers. The government argues it's to prevent scraping of data from email by foreign entities, but it looks a lot like one of the primary moves to create a long-rumored Iran-only intranet in reaction to the use of the net to foment anti-government resistance and spread news of Iran's treatment of its population.
Scott Thompson, CEO of Yahoo Inc was in the news headlines as he has misguided Yahoo Board and its investors and became a CEO. Now, he is quitting his post after a lot of criticism. He was convicted as not having cited qualification as per his resume. Now he has announced that he has been diagnosed with a Thyroid cancer. After such blunder, is anyone there to believe him that he diagnosed cancer the day before he is going to quit yahoo? After a breach of trust, probably nobody in corporate will believe him, before verifying it like his resume.
 |
| Scott Thompson Yahoo CEO |
The outgoing chief executive of Yahoo told the board of directors and colleagues that he had been diagnosed with thyroid cancer days before quitting the post, according to a report in the Wall Street Journal on Monday.
Scott Thompson disclosed his illness late last week before handing in his resignation as evidence appeared to emerge that contradicted his claim that he wasn’t responsible for an error in his resume regarding his academic record, sources told the newspaper.
It reported Thompson’s decision to step down as CEO at Yahoo was in part influenced by the diagnosis which occurred in recent days while the board was still investigating why his resume included a computer science degree which he had never attained.
The error in Thompson's resume appeared in a Yahoo regulatory filing and on Yahoo's and other corporate websites.
The struggling internet firm said on Sunday that Thompson, its third CEO in three years, would be leaving immediately and would be succeeded by Ross Levinsohn, a senior Yahoo executive who becomes interim CEO.
The firm has also brought an end to a proxy fight with hedge fund Third Point – it’s largest shareholder—by giving it three more seats on the board.
The Wall Street Journal reported that Thompson told one colleague that he didn't want to publicly discuss the cancer diagnosis because he wanted to keep personal details private.
