Wednesday, May 23, 2012

Video: Shares of Dell Fall on Disappointing Earnings

CNBC's Jackie DeAngelis reports the tech giant is having its worst day in ten years as the stock sinks on disappointing earnings, and dragging down the tech sector.

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Egypt says no plans to raise industry energy prices this year

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PFT: Knee, thigh pads mandatory in 2013

Scott FujitaAP

Browns linebacker Scott Fujita, one of four players facing suspensions for their alleged roles in the alleged Saints bounty system, addressed the media after Tuesday?s OTA practice in Cleveland.

And Fujita left no doubt regarding his position on the situation.

?That is not true,? Fujita said of the league?s contention that he helped fund a pool of money that went to players who knocked opponents out of games, via Scott Petrak of the Chronicle-Telegram.

Still, Fujita is not yet ready to delve into details.

?Unfortunately for a lot of us, we?re on public trial,? Fujita said.? ?But I?m just going to stick with my previous statements and, listen, there will come a time when I?ll be ready to share everything, but now is not the time.?

His concern is more than the money he?ll lose during a three-game suspension.? ?Listen, my reputation is a lot more valuable to me than three game checks, and my track record speaks for itself,? Fujita said.? ?It?s our word against theirs and that?s frustrating, but the reality is that I know what actually happened and that?s why I can stand by those statements.?

Given the public nature of the accusations, with the NFL releasing only summaries of information and snippets of raw evidence in support of serious allegations against Fujita and the other three players, it would be nice if the NFL would be more specific about the things the league believes happened.

It also would be nice if one or more of the players would tell their side or the story, sooner rather than later.

We understand that, for strategic reasons, the players need to keep their cards close to the vest, in order to enhance their chances to win the appeal, wherever and whenever it may occur.? But if Fujita truly doesn?t care about the three game checks, he should just spill his guts now and tell his story.

After giving the league the benefit of the doubt when the story first emerged on March 2, since it was clearly against the league?s obvious interests to peel back the curtain and admit that one of the NFL?s flagship franchises was cheating, we?ve become far more skeptical about the league?s claims.? The persistent refusal of the league to produce evidence coupled with troubling inconsistencies between the league?s description of the two items that have become available (the Anthony Hargrove declaration and the Mike Ornstein email) have given rise to a legitimate concern that the league has clear evidence of a pay-for-performance system, clear evidence of cartoonish locker room talk regarding bounties, but zero evidence that anyone ever acted upon the urgings to try to inflict injury ? or that anyone ever actually received a dime for doing so.

At this point, we?ll take whatever evidence we can get.? And if the league won?t tell the story in chapter-and-verse detail, here?s hoping Scott Fujita or Anthony Hargrove or Will Smith or Jonathan Vilma or Sean Payton of Gregg Williams or Joe Vitt or Mickey Loomis will.

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Tuesday, May 22, 2012

Early Facebook mutual fund buyers still in money

(Reuters) - Fidelity Investments and other big mutual fund families that were early backers of Facebook Inc are likely still winners despite the social network's troubled stock market debut.

Facebook shares were priced at $38 per share in its initial public offering on Thursday. Despite an initial bump in their market debut on Friday, the shares fell on Monday, closing down 11 percent at $34.03. The decline prompted much hand-wringing among technology investors who had expected a bigger boost for the widely used social networking service.

But don't cry for the mutual funds, said John Bonnanzio, editor of the Fidelity Insight investor newsletter. Many funds bought Facebook shares last year, while the company was still private, on secondary markets for considerably less than $38, he said.

For example, about 24 Fidelity large-cap stock funds bought more than $200 million worth of Class B Facebook shares at between $25 to $35 from March to May of last year, Bonnanzio estimated. Class B shares have more voting rights than the Class A shares sold in Facebook's IPO, but convert into the same number of Class A shares when they are transferred.

T. Rowe Price Group of Baltimore and Morgan Stanley's asset management unit were also big buyers of Facebook shares before the company's long-awaited IPO, according to securities filings.

Most of the funds' holdings would still be above water despite Monday's decline, Bonnanzio said. That assumes the funds did not buy more shares in the IPO at $38.

Then again, funds could have bought more shares on Monday as the shares dipped. "If they are true believers, one would have to assume they are buying more" shares of Facebook today, Bonnanzio said.

Facebook accounts for just a tiny proportion of the portfolios of big mutual funds that bought shares of the company last year. Fidelity's well-known Contrafund, for instance, has total assets of $84.2 billion according to Morningstar. According to the fund's most recent filing, dated March 30, its Facebook holdings were worth $106.6 million - a mere 0.127 percent of the fund's total net assets at the time.

Fidelity spokeswoman Sophie Launay declined to comment.

T. Rowe Price held more than 18 million shares of Facebook as of March 31, according to a recent Facebook securities filing. Based on a share price of $35, T. Rowe's stake would be worth about $630 million.

T. Rowe Price spokeswoman Heather McDonold declined to comment.

Funds were able to buy Facebook shares on secondary markets, such as SharesPost or SecondMarket, which arranged for Facebook employees to sell their personal shares before public trading began.

Chris Brown, chief investment officer for Pax World Funds in Portsmouth, New Hampshire, said that before the IPO, the firm was able to buy 420,000 shares of Facebook for two of its funds through Secondmarket in April, priced "in the low 30s."

Brown attributed the fall-off in Facebook's share price to a series of factors, including trading glitches in the market debut on Friday and the increase in the number of shares offered in the IPO.

"It was just a pile-on of not a lot of positive things," Brown said, adding he still has confidence in Facebook's long-term prospects.

The pre-IPO buying by funds also contributed to the share decline, he said, because it reduced the appetite for shares after the IPO. That kind of hunger for shares had provided a big boost to other hot technology companies in their market debuts, such as Google Inc.

"It's supply and demand," he said.

(Editing by Aaron Pressman and Leslie Adler)

(This story has been corrected to fix the names of secondary markets in paragraph 12)

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Tokyo's Private Academy for the Elite

Tokyo's Private Academy for the Elite

Welcome to the Special A class where the drama is the same, if not worse, than any other school in the country. ~ Still under construction. ~

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Forum for completely Out of Character (OOC) discussion, based around whatever is happening In Character (IC). Discuss plans, storylines, and events; Recruit for your roleplaying game, or find a GM for your playergroup.
Welcome to "Tokyo's Private Academy for the Elite"

Have fun going to classes, or not, winning over the guy you like or dumping the guy you're dating. This is a school where the drama is supposed to be different but is most likely worse than any other school in the country. Good luck with the school year!

? The bond that links your true family is not one of blood, but of respect and joy in each other's life.?

Winter is coming.

~ crybloodredtears..

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crybloodredtears
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May I reserve the Rank 4 Female??

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["You love me? Real or not real?" I tell him, "Real"]
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Panel advises against prostate cancer test

MONDAY, May 21 (HealthDay News) -- In a highly anticipated move sure to unleash heated debate, a prominent U.S. government advisory panel is recommending that men of all ages no longer be screened for prostate cancer by undergoing the prostate-specific antigen (PSA) blood test.

The U.S. Preventive Services Task Force, an independent group of medical experts in prevention and evidence-based medicine, said PSA screening results in overdiagnosis of prostate cancer and unnecessary treatment that can leave men impotent and incontinent.

This final recommendation comes seven months after the task force drafted a report giving a "D" rating for the PSA blood test. Previous guidelines had stated that most men should undergo screening beginning at age 50.

"Some may say that by rating the test a 'D' we're taking away the possibility of an informed decision, but we don't want that to be the case," said task force co-vice chair Dr. Michael LeFevre, a professor in the department of family and community medicine at the University of Missouri School of Medicine. "This decision does not preclude a man choosing to be screened."

The task force is the same panel that in 2009 rejected regular mammograms for women in their 40s, after also concluding the benefits don't outweigh the harms.

The new recommendation is published online May 22 in the journal Annals of Internal Medicine.

About 242,000 new cases of prostate cancer will be diagnosed in Americans this year, and about 28,000 will die from it, according to the U.S. National Cancer Institute. More than two-thirds of those deaths occur after age 75, the task force said.

PSA tests -- which measure prostate-specific antigen, a protein produced by the prostate gland -- can detect which men are developing the malignancy. But they cannot discern between cases that will never become life-threatening and those that require treatment, such as surgery, radiation or hormone therapy.

Basing its recommendation mainly on two major trials of PSA testing in asymptomatic men in the United States and Europe, the task force concluded screening may only help one man in every 1,000 to avoid dying from prostate cancer. Up to five in 1,000 men will die within a month of prostate cancer surgery, the panel said, and between 10 and 70 per 1,000 men will suffer lifelong adverse effects, such as urinary incontinence, erectile dysfunction and bowel dysfunction.

Many will also suffer unduly from persistent anxiety, the report said.

Critics of the task force's decision said the group underestimated the PSA test's benefits and overestimated its harms and also overlooked significant methodological flaws in the studies on which it based the "D" recommendation. None of the task force members are urologists or oncologists, making them unqualified to broach the topic, some health experts said.

"I think they're throwing away the baby with the bathwater," said Dr. William Catalona, a professor of urology and director of the clinical prostate cancer program at Northwestern University's Feinberg School of Medicine in Chicago, who wrote an accompanying journal editorial condemning the move.

"There's just no other way to detect prostate cancer early than through PSA testing," Catalona added. "If we were to completely stop PSA testing in all men . . . it would result in countless men dying of metastatic prostate cancer. People are happy to be cured of their prostate cancer, even if they have some side effects."

Dr. Otis Brawley, chief medical officer at the American Cancer Society and an outspoken figure on the pros and cons of cancer screening tests, encouraged men to make their own choice about PSA screening while keeping the risks and benefits in mind. Certain men, including blacks and those with a family history of the disease, are at significantly higher risk of developing prostate cancer, he noted.

"I am hoping this (recommendation) shuts down mass screenings, where men are only told that this will help them, which is stretching the truth," Brawley said. "They're rarely told about the potential for harm and that, for the people running the screening, the [venture] is usually quite lucrative for them."

LeFevre said it remains to be seen whether health insurers will change their coverage of PSA screening based on the task force's recommendation. For one thing, insurers aren't supposed to tailor coverage decisions to USPSTF guidelines, he said.

"If you look at the overall costs of screening, the PSA test itself is very small," LeFevre said. "I'd be surprised to see them take what I call the political risk of backing away from that."

More information

For more on prostate cancer, visit the American Cancer Society.

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Monday, May 21, 2012

Mob assaults Mali's president, calling peace deal into question

Mali's interim president, Dioncounda Traore, has been taken to the hospital, unconscious, after pro-military junta protesters broke into the presidential palace. Will a ECOWAS peace deal hold?

By Scott Baldauf,?Staff Writer / May 21, 2012

Protesters occupy Mali's presidential palace in the capital Bamako, May 21. Mali?s interim president, Dioncounda Traore, has been taken to the hospital, unconscious, after mobs of protesters broke into the presidential palace Monday.

Adama Diarra/Reuters

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Mali?s interim president, Dioncounda Traore, has been taken to the hospital, unconscious, after mobs of protesters broke into the presidential palace today.

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The protesters were supporters of the military junta that has ruled Mali since a March 22 coup. Protesters at the scene voiced support for the military junta, but not with the interim president chosen by the junta.

The injury of President Traore could complicate a deal worked out over the weekend between West African leaders and the head of the military junta, Capt. Amadou Sanogo, who named Mr. Traore interim president until elections can be held. The West African bloc, ECOWAS, which led the negotiations, has raised the possibility of military intervention, and has already approved 1,500 troops to restore order in Bamako and contain an ethnic rebellion in Mali?s north that has effectively carved out a Tuareg-majority independent country by force.

Military spokesman Bakary Mariko told Reuters that the protesters broke into the presidential palace and assaulted acting President Traore.

"They beat him seriously and tore his clothes,"?Mr. Mariko said. "This is a spontaneous crowd. There were three dead and some injured by gunshot amongst the demonstrators. Dioncounda's security shot at people.?

While it?s hard to gauge how broadly the March 22 coup was supported, today's attacks on Traore do show some measure of support for the military junta, and they cast doubt on West African-backed plans for a transition of power from the current interim government, following future elections. Protesters who broke into the palace were heard chanting "We don't want Dioncounda" and "Down with ECOWAS."

"The arrangements made by ECOWAS don't involve Malians. It is a betrayal," Agence France Presse news agency quoted Hamadoun Amion Guindo of the Committee of Malian Patriotic Organizations (COPAM), a pro-coup group.

If ECOWAS intends to bring its 1,500 peacekeepers, approved at an April summit meeting, into Mali, they may find a decidedly cold reception from Malian citizens, some of whom view the junta as a welcome respite from the regime of former President Amadou Toumani Toure. Mr. Toure was overthrown by Captain Sanogo?s men, after protests that Toure?s government failed to provide the food and equipment to fight a better armed Tuareg insurgency in the north.

Mali?s Tuareg population has fought several rebellions in the past two decades, but returning Tuareg fighters armed and trained by the toppled Libyan government of Muammar Qaddafi proved to be too much for Mali?s poorly armed and equipped armed forces. Tuareg rebels, together with an Al Qaeda affiliated Ansar al-Dine, have taken effective control of northern Mali, including the historic city of Timbuktu, following the chaos of the March 22 coup.

Over the weekend, Mali?s future seemed to have been stabilized, as ECOWAS leaders reached an agreement with the military junta, accepting Traore?s interim government until elections were held in 12 months time.

"I can tell you that a deal has been reached in principle,"?Captain Sanogo told state television?late on Saturday,?Reuters?reports. "Of course we have a certain number of accompanying measures to put in place and we will remain in [the capital]?Bamako?the time it takes to ensure that, after these discussions, the institutions of state are stabilized.?

Following the beating of Traore by military supporters, Captain Sanogo has not issued statements to reporters in Bamako. But protesters at the scene told Reuters that they would not accept any deal that includes Traore, even if it enjoys the support of the military junta.

"There is no question of Dioncounda staying as president of Mali," says Daouda Diallo, a demonstrator who made it up to the presidential palace.

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