Friday, December 2, 2011

Dow, S&P up for 2nd day but financials a drag (Reuters)

NEW YORK (Reuters) ? The Dow and S&P 500 advanced for a second day on Tuesday as consumer confidence data was stronger than expected and investors eyed further progress on a solution to Europe's fiscal mess.

But weak financial shares limited the advance, with the S&P financial index (.GSPF) down 0.4 percent. Shares of Bank of America (BAC.N) dropped 2.7 percent to $5.11, on track for their worst close since March 2009. The Nasdaq also was lower.

"There seems to be some movement on the European front, but things certainly haven't been resolved. Financials are taking a step back, and are kind of keeping a cap on the market as a whole," said Thomas Villalta, portfolio manager for Jones Villalta Asset Management in Austin, Texas.

In a positive sign for the euro zone, Italian bond yields fell from session highs, though they were still at record high rates. In the auction, Italy's government sold 7.5 billion euros of three- and 10-year bonds, close to the upper end of its target range.

In addition, investors also eyed a meeting of European officials in hopes they will make a step forward in resolving the region's debt crisis.

In the United States, the Conference Board, an industry group, said its index of consumer confidence jumped to its highest level since July, handily topping economists' forecasts.

The news followed record Black Friday sales, giving investors hope that the holiday shopping season will be a solid one for retailers.

The Dow Jones industrial average (.DJI) was up 55.29 points, or 0.48 percent, at 11,578.30. The Standard & Poor's 500 Index (.SPX) was up 4.14 points, or 0.35 percent, at 1,196.69. The Nasdaq Composite Index (.IXIC) was down 8.01 points, or 0.32 percent, at 2,519.33.

On Monday, U.S. stocks rebounded sharply from seven days of losses, with the S&P closing up nearly 3 percent.

Weakness in some large-cap Internet stocks weighed on the Nasdaq after strong gains in those stocks on Monday. Amazon.com (AMZN.O) dropped 2.3 percent to $189.62.

AMR Corp (AMR.N) plunged 78.4 percent to about 35 cents a share after the parent of American Airlines filed for bankruptcy protection and named a new chairman and chief executive. The stock was halted more than a dozen times throughout the day.

(Reporting by Caroline Valetkevitch; Additional reporting by Ryan Vlastelica; Editing by Jan Paschal)

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/nm/20111129/bs_nm/us_markets_stocks

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Thursday, December 1, 2011

Correction: Climate Conference-Q&A (AP)

JOHANNESBURG ? In a Nov. 28 Q&A on the U.N. climate conference in Durban, The Associated Press reported erroneously that the United States has never signed the Kyoto Protocol. U.S. negotiators signed the agreement, but it was not submitted to Congress for ratification and Washington later formally withdrew from it.

Source: http://us.rd.yahoo.com/dailynews/rss/environment/*http%3A//news.yahoo.com/s/ap/20111129/ap_on_re_af/af_climate_conference_q_a_corrective

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Open source cancer research | opensource.com

When it comes to treating, curing, and preventing cancer, modern medicine has largely failed. You could argue that cancer is far too complicated to unravel in the few millenia we have been documenting it. Or that the billions we spend annually on research is far too little. Established incentives and policies that perpetuate research silos certainly seem to slow success.

Medical researchers have been trained in a professional culture where secrecy reigns, where they must protect their own interests. The dominant culture discourages sharing research findings and collaborating on projects. It has become more important to protect vested interests than to take advantage of the huge collaborative network that is available in academia.

This mode of thinking is a bitter pill to swallow for the quarter of our population that will die of cancer. According to the World Health Organization, one in every four deaths is attributable to cancer.

What would happen if cancer researchers were able to adopt an open and collaborative approach like the one that has--for the last two decades--revolutionized software development? What if cancer research could be open source?

Linux has been successful because a large group of people recognized a need and agreed on a process for meeting that need. The brilliance of the open source approach is in the sheer amount of brainpower participating. The open source community shows that the collective intelligence of a network is greater than any single contributor.

While the term is attributed to software development, the idea is not. In fact, some medical research does use this methodology in the same way that Linus Torvalds and others develop open source operating systems. The Human Genome Project, for example, very successfully distributed gene-mapping in efforts to speed up the sequencing of the genome. The HGP teams published their data openly, on the Internet.

More recently, a team of Harvard researchers discovered the power of distributed research. A team led by Jay Bradner at the Dana Farber Cancer Institute discovered a small-molecule inhibitor that showed promise in its ability to interrupt the aggressive growth of cancer cells. The small-molecule inhibitor, called JQ1--after Jun Qi, the chemist who made the discovery--works by suppressing a protein (bromodomain-containing 4, or Brd4) necessary for the expression of the Myc regulator gene. It is a mutated Myc gene that is believed to be at the root of many cancers. Without Brd4, Myc remains inactive. Inhibiting Myc could be part of the key to successful cancer treatments.

With the cells from an affected patient, Bradner's group successfully grew the cancer in mice and discovered that the mice with the cancer who received the compound lived, while the mice with the cancer who didn't receive the compound rapidly perished.

Instead of operating in secrecy and guarding their work, Bradner's group shared it. They simply started mailing it to friends. They sent it to Oxford crystallographers, who sent back an informative picture that helped Dr. Bradners team to understand better how the small-molecule inhibitor works so potently against Brd4.

They mailed samples to 40 labs in the US and 30 more in Europe, encouraging these labs to use it, build upon it, and share their findings in return. As a result of this open source approach, Dr Bradner's team has learned--in less than a year--that JQ1 small-molecule inhibitor prevents the growth of leukemia, making affected cells behave like normal white blood cells. Another group reported back that multiple myeloma cells respond dramatically to JQ1.? Still another found that the inhibitor prevents adipose cells from storing fat, thus preventing fatty liver disease.

Bradner has published his findings. He has released the chemical identity of the compound, told researchers how to make it, and even offered to provide free samples to anyone in the medical research community. (If you're a researcher who'd like a sample of the JQ1 molecule, you can even contact Bradner's Lab via twitter @jaybradner.)

Bradner feels his early successes are due not only to the science, but also to the strategy. Using an open source approach, sharing the information about this molecule, and crowd-sourcing the research and the testing illustrates the opportunities that an open methodology can bring to the difficult challenges of medical research and prototype drug discovery.

In his recently released TED talk video, Dr. Bradner explains that he firmly believes that making a drug prototype freely available among researchers will help accelerate the delivery of effective cancer drugs to affected patients.

With more practice?and more familiarity with each other and this kind of collaborative research?scientists can break large, complex, time-expensive projects into smaller, achievable portions. By? spreading out those small tasks among many groups, much more work can be accomplished in a vastly reduced amount of time.

Using the old research models, Bradner?s team might have learned that JQ1 affects AML cells in the first year. But it might have been next year before they got to leukemia, and years after that before they realized it also could affect fatty liver. How many years do you think the old approach adds to the development of drugs we need today?

It is time to seriously consider a different model for scientific research?one that directly engages and benefits society, encourages open access and the free exchange of scientific information. The benefit to patients would be enormous.

Source: http://opensource.com/health/11/11/open-source-cancer-research

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Romney the 1st GOP candidate to plant flag in Fla. (The Arizona Republic)

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Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/167563449?client_source=feed&format=rss

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Ex-fiance focus of 'People's Court' missing case

Orlando's police chief says a former fianc? is the primary focus of the investigation into a woman who went missing after appearing on "The People's Court" with the suspect to resolve a dispute over a $5,000 engagement ring.

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Thirty-three-year-old Michelle Parker of Orlando was last seen Nov. 17. It was the day the previously taped episode aired of the case between her and 40-year-old Dale Smith. The abandoned SUV of the mother of three was found the next day.

Chief Paul Rooney said at a news conference Monday that Smith of Orlando is the probe's focus and there are no other suspects.

He says Smith has refused to take a lie-detector test. The Orlando Sentinel reports that court papers show the couple has a history of violence.

Attempts to find a telephone listing for Smith were unsuccessful.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://today.msnbc.msn.com/id/45470530/ns/today-entertainment/

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WI Harper Group, Matrix Partners Invest $12.5 Million In Social Games Maker SNS Plus

snsplusMatrix Partners and WI Harper Group, a Chinese VC, this morning announced that they've pumped $12.5 million into SNS Plus, an international publisher and distributor of games with a focus on the Asian market. As of June 2011, the company has published more than 60 games on Facebook, and more than 15 games on other platforms such as Zingme, iOS, Friendster and more.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/cAxcE5DWfhw/

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Is Frontier Communications' 14% Dividend Yield Safe? | InvestorPlace

? ?

I?ve always been a big fan of Frontier Communications (NYSE:FTR). It?s a quiet little independent telecom company that handles regional services in just a few states like Northern California, Nevada, Arizona, Utah, Minnesota and New York. It?s the classic under-the-radar play that has done very well for investors over several years ? the kind of play you have to find in a specialized screen and one that also must execute its business well.

Things have gotten tough for the company, though. In its?recent third-quarter?report, the company told of a 30% decline in net income, and an 8% decline in revenue, led by a 12% drop in local and long-distance service revenues. Talk about a hang up! So what?s going on with Frontier and, more importantly, will its 13.7% yield remain intact?

The problem is that, like most other phone companies, Frontier is losing subscribers to cell phone service as folks cut their landlines. Residential customer count fell by 2.3% over the sequential quarter and 10% over the previous year. Business customers fell by almost the same rates. When you lose subscribers like that, you can expect to see revenue and net income get slammed as they did.

What?s hidden in these numbers is that the company bought almost 5 million landline customers from Verizon (NYSE:VZ) several quarters back and, as you might expect, that temporarily boosted revenue and earnings. Now, however, it?s comparison time and the chickens have come home to roost on those telephone wires, so to speak. The company has started new initiatives such as expanding Internet service and satellite TV services by partnering with the big players in that arena.

Still, the problem facing Frontier is that landlines are?going the way of the dodo bird. They won?t disappear entirely, but the company may continue losing customers until this trend abates. We?ve already seen Frontier cut its dividend ? it did so last year when it chopped it from a buck per share to 75 cents. The company?had to do it because?it had some big capital expenditures coming down the pike after buying those Verizon lines. Is there another cut in the company?s future?

I like to look at free cash flow to determine if a company is using too much of its assets to pay shareholders. So far this fiscal year, the company has had FCF of $1.21 billion and has paid out dividends of $560 million. That?s about a 2-1 ratio, so about 50% of free cash flow is going to dividends. That?s a perfectly acceptable ratio.

If Frontier continues to lose customers in large numbers, this dividend could be cut. However, if that happens, I don?t suspect it would be more than 50%, which means it would still pay a healthy dividend of almost 7%. Investors looking for rock-solid safety may want to avoid buying?now since the future is uncertain. Holders of the stock or those watching the company and trying to decide may want to think about holding for the next?two or?three quarters to see what develops.

Lawrence Meyers holds no positions in any stocks mentioned.

Source: http://www.investorplace.com/2011/11/is-frontier-communications-14-dividend-yield-safe/

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