NEW YORK (MarketWatch) — U.S. stocks tallied modest gains on Friday following your price of crude fell further and the government delivered upbeat economic data, together with a surprising rise in orders for durable goods, which helped offset ongoing issues within the financial sector. “I think it is great that we have positive economic data. But the biggest driver of this market today is the price of a barrel of oil, which may be constructive to the market,” said Art Hogan, chief market strategist at Jefferies & Co.The Dow Jones Industrial Average gained 21 points to 11,370, leaving the blue-chip index having a weekly loss of 1.1%.In the Dow’s 30 components, 15 resulted in positive territory, with Microsoft Corp. in the most, gaining nearly 3%.The highest drag on the blue-chip index became General Motors Corp. , off 8.5%.The blue-chip index and also the broader market also took an afternoon hit after Standard & Poor’s Ratings Services claimed it might downgrade the subordinated debt and preferred stock of Fannie Mae and Freddie Mac .Shares of Fannie fell almost 4%, while Freddie declined 6%.”S&P downgrading Fannie and Freddie is seeping in, as well as the financial system is going within the waves. People could have looked up at the calendar and first viewed it was Friday, too,” said Hogan, as the blue-chip index took a short tour into negative territory inside the wake of the news.Automobile Corp. proved the greatest weight on the blue-chip index, with shares of the auto maker lapsing 8%.The S&P 500 gained 5 suggests 1,257, down 0.2% from a week ago.Energy led sector gains from a bruising week. The Nasdaq Composite climbed 30 suggests 2,310, leaving the technology-laden index using a weekly gain of 1.1%.Shares of Juniper Networks Inc. rallied nearly 18% as soon as the maker of networking gear said third-quarter sales tummy flatness, although in as much as 5% higher than analyst estimates.New orders for durable goods climbed 0.8% last month, the Commerce Department reported, superior to the drop of 0.3% many economists predicted. .Your data on orders, shipments and inventories of big-ticket goods “revealed surprising strength in ex-transportation orders with a 2% June gain that caught the market’s eye,” said analysts at Action Economics. Consumer discretionary and utilities led sector declines on the list of S&P’s 10 industry groups.Among financials, shares of Washington Mutual Inc. slipped further on concern unsecured creditors are losing faith from the nation’s biggest thrift. After losing more than 30% of their value Wednesday and Thursday, the shares were off 0.3%. .Volume around the New York Stock Exchange neared 1.3 billion, with advancing stocks outpacing those declining 9 to 7. About the Nasdaq, 847 million shares traded, and advancers outran declining issues roughly 8 in order to 5.Home baseAlso on the economic-data front, U.S. foreclosures from the second quarter a lot more than doubled from the year-earlier quarter and rose nearly 14% through the previous quarter, based on RealtyTrac.And consumer sentiment grabbed in July, albeit at the relatively low level, based on a media report. .For the New York Mercantile Exchange, oil futures ended at $123.26 a barrel, down 4.8% about the week. .”Crude has stabilized as well as the possibility of some corrective upside action by reviewing the low at $123-a-barrel support can also be responsible for some concerns within the equity space,” said Tom di Galoma, head of Treasurys trading at Jefferies & Co.StandoutsShares of Crocs Inc. plunged 44% after the footwear maker slashed its outlook late Thursday on soft requirement for its brightly colored sandals. .Delta Air Lines Inc. advanced 7.6% since the airline was reportedly upgraded by Merrill Lynch to buy.And Wachovia Corp. fell 8%. Late Thursday, the bank said that its chief financial officer, Thomas Wurtz, wasstepping down.And in the spotlight, Honda Motor Co. reported stronger-than-forecast 8% profit growth for the first quarter by reducing sales incentives in The united states and trimming costs.In London, the FTSE 100 fell nearly 1% as insurers lost ground. .Is a result of Samsung Electronics and National Australia Bank weighed in Asia, with Tokyo’s Nikkei 225 benchmark retreating 2%. By Kate Gibson ugg nightfall
President Bush said Wednesday that rebuilding Iraq and Afghanistan while battles rage is proving difficult, and “we’re learning once we go.”The president looked to the experience of World War II, the deadliest conflict ever, in again asking the country for patience as the United States fights two wars.”We’ve assumed this obligation before,” Bush told greater than 1,000 graduates from the U.S. Air Force Academy at a cold, drizzly football-stadium ceremony.”After World war 2 we helped Germany and Japan build free societies and robust economies,” Bush said. “These efforts had time and patience, and for that reason Germany and Japan grew in freedom and prosperity. Germany and Japan, once mortal enemies, have become allies of the United States. People across the world have reaped the rewards.”Yet the president acknowledged one of the many differences between the global conflict six decades ago and the ones that began under his watch: today’s wars aren’t over.”In Germany and Japan, the task of rebuilding happened in relative quiet,” Bush said. “Today we’re helping emerging democracies rebuild under fire from terrorist networks while stating sponsors of terror. This a difficult and unprecedented task, and we’re learning as we go.”For example, he explained, the U.S. learned the tough way that newly liberated folks Iraq could not make progress unless they deemed a reasonable measure of security.Bush says his very own country must not lose its nerve. He was quoted saying terrorist enemies, while using the media and the never-ending news cycle, attack innocent people to weaken American resolve.”We must prevail not just in the battle of arms, but additionally in the battle of wills,” Bush said. “And we should instead recognize that the only way that America can lose world war 2 on terror is that if we defeat ourselves.”Bush’s message was overshadowed by a blistering tell-all book by his former press secretary, Scott McClellan. The first kind voice of the White House, McClellan writes that Bush favored propaganda over honesty and candor in selling world war 2 to the American public.McClellan strikingly calls the Iraq war a “serious strategic blunder.” His scathing account of Bush’s leadership drew dominant news coverage and lit up many Internet blogs.White House press secretary Dana Perino declared that McClellan’s account was puzzling and sad, knowning that Bush had more essential matters than commenting on books by former staffers.In the commencement address for the Air Force cadets, Bush trumpeted advances in warfare. He explained U.S. forces are now able to target regimes without mass civilian casualties, that he said was a deterrent for enemies who might otherwise provoke the usa.”By making war more precise, we can make war not as likely,” Bush said. The speech was the main official business in the Western trip mostly designed for the president to raise money for Republicans. After the commencement, Bush was on the way to Utah for two closed events to accumulate contributions for John McCain, the Arizona senator and presumptive Republican presidential nominee. Some of the proceeds will help other GOP candidates, too.Bush held an identical event on Tuesday in Arizona, raising an estimated $3 million. Overall, she has five fundraisers in 72 hrs, all of them closed to reporters.The cisco kid cast by McClellan’s book followed Bush and place his comments about the Iraq war inside a new context. McClellan wrote that the Bush White House made “a decision to turn away from candor and honesty when those qualities were most needed” – in the run-up to war.Perino, calling McClellan “disgruntled,” said “this is not the Scott we knew.” Former top White House aides blasted McClellan and said he never raised such objections while at work.At least 4,085 U.S. military members have died in the Iraq war. Over 430 members of the U.S. military have ended in Afghanistan, Pakistan and Uzbekistan due to the U.S. invasion of Afghanistan in late 2001, according to the Defense Department. bailey button triplet ugg boots
A former Camden elementary school principal with his fantastic top aide were indicted Monday on charges that they can tricked parents and students within the nation’s poorest city into investing in outings that were financed by the teachers district, then kept the 1000s of dollars they collected.These were also indicted, along with another former elementary school principal and her schoolteacher daughter, in a suspected scheme to overbill the district for leadership meetings authorities say never occurred.Authorities the ex-principal of H.B. Wilson Elementary School and also the top staffer pocketed more than $14,000 — collected in increments as small as $5 — to fund trips to such destinations because the Philadelphia Zoo, Storybook Land with an American Indian reservation.Teachers helped pupils raise money by holding fundraisers, and a few teachers reached inside their own pockets to pay for pupils whose parents can’t afford bus fees and other costs.According to census data, Camden may be the nation’s most impoverished city, which has a median household wages of just $18,000. The location of 80,000 sits over the Delaware River from Philadelphia.The ex-principal, Michael Hailey, 65, along with the administrator, Patricia Johnson, 57, told teachers to get $5 to $12 for each pupil per trip, authorities say, even though they knew the outings were approved for payment by the district.”It can be a sad day when leaders in your schools are arrested for stealing from their students,” said Attorney General Stuart Rabner, who announced the grand jury indictments Monday.”All I understand is, I want my cash back,” Shelane Nichols, whose daughter can be a first-grader at the school, told the Philadelphia Inquirer. “They are already robbing parents.”A lawyer for Hailey, Craig Mitnick, said he believes his clients defintely won’t be the only ones in case.”It’s my firm thought that this is the first round of indictments and none of the four people are the top fish in the sea,” said Mitnick. “Hopefully, they’re not going to be the scapegoats for higher officials inside the school district.”Hailey himself didn’t have comment, except to share with the newspaper, “I do not have anything to say. No news like bad news.”Johnson’s lawyer did not return an appointment seeking comment.Hailey and Johnson were also among four school personnel who prosecutors say billed people school district a lot more than $25,000 in extra wages for weekend meetings with administrators, teachers and fogeys that never came about.They were indicted on the suspected overbilling together with former principal Juanita Worthy, 59, of U.S. Wiggins Elementary School, and Worthy’s daughter, Keah, 31, an old teacher at Wilson.Juanita Worthy’s lawyer would not return a phone message seeking comment. Keah Worthy’s lawyer, Timothy McGowan, said he’d not seen the indictment Monday evening and can not comment.Bart Leff, a spokesman for the Camden Board of Education, said the college board learned of the alleged wrongdoing this past year when parents found the board to complain that the children were being left home from field trips given that they could not afford to pay.School board policy prohibits elementary or middle-school pupils from charges for curriculum-related trips.The 2 principals and Johnson were suspended with pay last May following a school board investigation in the meeting vouchers. They retired in July while facing district disciplinary action. Keah Worthy will no longer works for the district.All are charged with conspiracy, theft, official misconduct and record tampering. black mulberry bag
The jury in Phil Spector’s murder trial deliberated for the second day Tuesday, then retired for the evening without reporting a verdict.Spector is charged with second-degree murder in the shooting of actress Lana Clarkson, 40, in the record producer’s Alhambra, Calif., mansion at about 5 a.m. on Feb. 3, 2003.Spector, 67, faces Fifteen years to life in prison if convicted.Clarkson died every time a .38-caliber revolver went off inside her mouth a long time after she met Spector at her job being a nightclub hostess and went to his home for the drink. She was seated in a chair of a foyer.During five months of testimony, prosecutors presented a chauffeur who declared Spector came out of his home holding a gun and said, “I think I killed somebody.”Prosecutors also called five women from Spector’s past who testified of incidents when Spector, after drinking, threatened them with guns when they attempted to leave his presence at his homes or even in a hotel.The defense contended that Clarkson was depressed over her flagging acting career and personal problems and killed herself in a suicide or by accident.Spector did not testify. He would face a sentence of Many years to life in prison if convicted. Monday, the jury met for any little more than 3 1/2 hours in their first day of deliberations, asking to view the gun that killed actress Lana Clarkson.The snub-nose .38-caliber revolver was given to the panel for the short time by a bailiff who carried it into the jury room in a box. Jurors kept the gun for only a few minutes before returning it. Photos: The Spector Trial Before handing them true on Monday, Superior Court Judge Larry Paul Fidler asked them or no had heard or seen news reports over the past weekend that could affect their discussions. No one raised a hand.Fidler was apparently concerned about reports in the London newspaper The Mail on Sunday that quoted Spector as saying most of the prospective jurors thought he was either guilty or insane knowning that Fidler “doesn’t like me.”The newspaper said Spector made the remarks to some documentary filmmaker he spoke to in excess of a five-month period. Spector denied it.”I didn’t make those statements,” Spector told The Associated Press as he arrived at the courthouse Monday. “They are reprehensible and false. Whoever caused them to be on my behalf should be put in jail. I’m sure the jury will perform a good job.” Photos: Courting Phil Spector Fidler said nothing regarding the accuracy of the newspaper report, but he explained in a short hearing away from jury’s presence: “I would think anybody that wants to make a comment like that to a jury that’s about to deliberate their fate isn’t considering it.”Spector gained fame decades ago for the purpose became known as the “Wall of Sound” recording technique. Clarkson starred in the 1985 cult film “Barbarian Queen.”Vikram Jayanti, who is working on a documentary about the trial, told the AP he wrote a chunk for The Mail by which he told of his evolving thought Spector may be innocent.”I referred to things he has believed to me well before trial,” Jayanti said. “He wasn’t talking about this jury. … It is a complete misrepresentation that Spector has been quoted as lashing out at this jury.”By Linda Deutsch mulberry mitzy east west hobo
Villages in the path of an earthquake-created lake that threatens to burst stood empty Monday after police and soldiers ordered many people to evacuate.But as others had rushed for higher ground Sunday, the Liu family sat in your own home, watching news of an possible massive flood within their area and sipping tea. A stern warning, spray-painted outside their door, marked a flood line just level using toes. Armed police had told them to leave.”We’re waiting before the last moment,” said Liu Zhenyang, 35, a farmer. “Then we’ll cost the hills.”A disaster-weary China was looking to evacuate 200,000 people from the path of the Tongkou River, that has swelled to near bursting after last month’s earthquake blocked it using a landslide. But after weeks of chaos and uncertainty, few people was in a hurry to get uprooted again.Whole villages across the river were empty and silent, sealed off by men in camouflage uniforms and bright orange life vests. Deadlines to depart varied from noon to sunset. Nobody knew when, and even if, the lake would burst. A whole new channel to drain off the swelling river had recently been completed, but it was too quickly to know if it was working.In the village of Jiuling, the last residents rolled up their tents and departed Sunday within a tractor full of green beans.”The army came this morning. They told us to go away immediately,” Yue Chengdi, a 58-year-old farmer, said. But he’d wanted to check his crops first.Soldiers patrolled the empty, shattered lanes in groups of four. A tent had collapsed in the rush to leave, with charge cards scattered in the dust.Yue walked on the edge of the river and pointed back toward the key road running south toward Sichuan province’s capital, Chengdu. All the fields before the road may be flooded, including his very own.”There’s nothing we can do,” he was quoted saying. “The government will repay us.” He’s never lived anywhere but here.The quake killed at least 69,000 and left millions homeless.Not even survivors are safe: Research online was underway for the military helicopter that crashed each day earlier near the epicenter, Wenchuan, carrying 14 people injured in the quake and five crew, the state-run Xinhua News Agency reported.The specter of earthquake-formed lakes bursting has complicated rescue efforts and uprooted thousands, even those whose homes had survived the quake itself.The Lius’ home in Qinglian was fine. But his family, about 10 members in all, has no tent for his or her quake lake evacuation. “That’s the main problem, the lack of tents,” Liu said. “The government said there have been no more. But problems in later life.”The uncertainty of when – and even if – the flood waters might come created some reluctance to leave. Some needed to outrun, outbike or outdrive any wall of water. Xia Chengyi bicycled by, saying he got an hour’s permission to go back and feed the pigs of 13 families.”We use a car. If the water comes, we’ll run because of it,” said 59-year-old Yang Xiufu, his grandson on his lap. “Such trouble! We don’t know when the water is on its way.”Two police officers took turns posing for photos before an empty plaza dedicated to the long-ago famous poet Li Bai, who died of drowning. The poet’s former home nearby, judging by the authorities blockade, would be flooded.Together with nearby Taohuashan, or Peach Blossom Mountain, countless families were waiting to find out if their homes below will be swept away. People said the federal government would warn everyone with sirens and firecrackers if your lake burst. Clusters of blue relief tents were set good for hillsides. mulberry leather
North Korea has repeated its pledge to rejoin the Nuclear Nonproliferation Treaty and accept U.N. inspections if your international standoff over its atomic program is resolved smoothly, the North’s official news agency said Sunday.”If the nuclear issue finds a reasonable solution, we will come back to the NPT and accept the (International Atomic Energy Agency) inspection,” Paek Nam Sun was quoted by the North’s official Korea Central News Agency.”We can have neither reason nor necessity to own even a single nuke in the event the U.S. agrees to completely remove its nuclear threat to (North Korea) and opens the relations of peaceful coexistence with” its northern border, Paek said in comments Friday in an Asian regional meeting in Laos as reported by KCNA.The remarks echo what North Korean leader Kim Jong Il told a visiting South Korean minister in Pyongyang in June.U.S. Assistant Secretary of State Christopher Hill stressed differences remained with North Korea on the resolution of the 2 1/2-year-old nuclear standoff, which has raised regional tension and concerns that it could spark an arms race in East Asia.”Today was the initial opportunity, really, to adopt something that could become a final document and try to see if we can reach agreement about it,” Hill told reporters from the draft proposed by China.He would not provide details, but said “we think it’s a good basis” for negotiation. No end date has been seeking the talks, which began Tuesday. Hill said he doubted they will conclude Sunday.Six nations: China, Japan, Russia, america and the two Koreas, are holding talks in Beijing that began Tuesday directed at resolving the international standoff over North Korea’s nuclear program that erupted at the end of 2002.Paek said the six-nation talks should be fruitful if denuclearization of the Korean Peninsula is discussed under the principles of respecting sovereignty and equality.The talks have focused on a definition of denuclearization in the Korean Peninsula. The North states that should mean elimination of alleged U.S. nuclear weapons in The philipines as well dissolving the American “nuclear umbrella” of security guarantees towards the longtime ally. Washington and Seoul both deny the U.S. has nuclear weapons in South Korea.North Korea “has exercised its utmost patience and adaptability in an effort to seek a peaceful negotiated strategy to the nuclear issue around the Korean Peninsula,” Paek said, in accordance with KCNA.He said the North proposed on the talks that the U . s . and North Korea end their hostile relations and set up a system for peaceful coexistence. He also said Pyongyang wanted to abolish nuclear weapons from both Koreas, bar entry of nuclear weapons or materials externally, and get a promise from Washington to not use atomic weapons up against the North.”As much as I must talk about progress, you understand it’s hard to talk about progress and soon you actually have an agreement,” Hill said.Okazaki, japan newspaper Yomiuri, citing anonymous sources, said delegates “roughly agreed” on the draft document that mentions a security guarantee and economic assistance for North Korea along with a promise of normalized relations with all the United States. It does not detail how a North would abandon its nuclear program or what it really would get in return, the newspaper said. york outlet mulberry
“We’d like to create civil dialogue between every one of the stakeholders — consumers, shareholders, employees, executives, regulators, investors journalists, activists, analysts — anyone who just has a personal story regarding the company in question,” Vanno Co-Founder Nick DiGiacomo taught me in an interview yesterday. cheap ugg boots uk sale
In King Pharmaceuticals’ allegedly hostile takeover attempt of AlPharma, the objective company is utilizing what I like to call the Ashley Dupre (pictured) strategy: It’s saying, Yes, you could have me, but I don’t come cheap.I believe that “allegedly hostile” because AlPharma has made it clear in the get-go that it is happy to be acquired on the right price. The organization press has centered on the rejection of King’s first bid of $33 a share (reasonably limited on its $24-and-change price at the time), and then the rejection of King’s tender offer of $37 for all those shares.But glance at the tone of the communications between your companies. When AlPharma rejected King’s first offer, CEO Dean J. Mitchell wrote to King chairman Brian A. Markison: Were willing to entertain a proposal from you that we believe more appropriately values the Company. To that end, we remain offered to discussions with you at a price that we believe reflects the inherent valuation on Alpharma as well as the significant benefits, since your letter and comments to investors earlier today describe, that might accrue to King due to the transaction. For those who have an interest in engaging in a dialogue on that basis, please send an email at your earliest convenience. How “hostile” is always that? The only thing he doesn’t say is, “and don’t forget to book a space.”Here’s AlPharma’s recent “rejection” of King’s latest offer: King communicated its revised proposal to Alpharma yesterday, and we invited them to enter into a process designed to ensure Alpharma shareholders receive full and fair value because of their investment in our Company. We carry on and welcome and encourage King’s participation for the reason that process. Obviously, AlPharma’s board is looking forward to cashing in their 20-something stock at the near-40-something price — and King can leave the end on the nightstand.But AlPharma’s adoption of a “poison pill” — in which shareholders receive extra shares or no company acquires 15% or even more of AlPharma, thus diluting the stock to ensure any acquirer ends up wasting their funds — may be a price hike much.It’s worth considering why King is really keen on this deal. In summary, King’s near-term prospects are fading. Consider: King’s revenues collapsed from $542 million to $396 million last quarter. A neat introduction to King’s troubles can be found on Motley Fool. But an even more chilling taste of these came in the company’s last business call. CFO Joseph Squicciarino explained that revenues had sunk largely because its Altace hypertension brand faced generic competition: I do think the way that you should think about that is certainly sales, net sales for Altace within the second quarter were $44 million. As we speak the generic have captured 90% share in the ramipril market. So we really within our forecast here have Altace at extremely lower levels for the balance on this year, very low levels, can measure with 90% current share for the generic and that’s going to go no where but north … between now and the end of the year. Given those trajectories, AlPharma shareholders should ask themselves the length of time it will be before King becomes unable to generate the kind financing necessary to complete the deal.Even though AlPharma has generated some good news recently around its Embeda abuse-resistant painkiller, shareholders may want to consider that just because management continues to grow revenues doesn’t mean they’re business geniuses. Sales went from from $133 million to $167 million last quarter, but AlPharma still somehow lost money due mainly to marketing expenses that underwent the roof.King, by contrast, designed a small profit despite the 27% skid in its overall business. Management that may continue to make money in even toughest of environments is one thing that AlPharma’s shareholders should give serious consideration to, especially when they may be coming at you having a 67% premium on your stock. Conclusion: AlPharma is raising its cost just as its big-spending trick, King, gets poorer by the minute.As a high-price call girl is perhaps all very well — but if she can’t close the deal, even the classiest escort goes home empty-handed. cheap ugg boots uk sale
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