Apple (AAPL) stock was able to retake a key level in the stock market this week, lifted by positive comments about its new music streaming service. At the New Music Seminar on Wednesday, music industry leaders talked about how Apple Music may help boost the industry's flagging revenue. The seminar's founder says that if Apple can convert 200 million free-trial customers into subscribers, the tech giant could potentially triple the growth of streaming. Apple shares rose in quick turnover on Wednesday, retaking the 50-day line and then some. The stock has struggled to stay above that level for the past several weeks. Apple is on track to notch its biggest percent gain in about a month. The stock price boost has Apple now within 3% of a 134.64 flat base buy point. Apple was also applauded for changing its course and agreeing to pay royalties to artists during the three-month customer trial period. The move came after pop star Taylor Swift publicly criticized Apple for the policy.
Major attacks on the U.S. power grid system are “increasing,” with hackers stepping up efforts to penetrate critical systems and to implant malicious software that could compromise the power grid and result in a nationwide crisis, according to a government report.
While experts have long signaled that the U.S. power grid and related systems are vulnerable to physical attacks by terrorists and other individuals, the U.S. government is now warning that sensitive computer systems that maintain the grid are increasingly being attacked, according to a Congressional Research Service (CRS) report that was not made public until the Federation of American Scientists (FAS) disclosed it this month.
The report warns that hackers potentially affiliated with terrorist groups or rogue nations have the ability to insert harmful malware into the internal systems governing the U.S. grid, which increasingly are being hooked into the Internet.
These types of computer viruses are able to comb internal systems for private information in a clandestine manner; they can also be used to wrest control of certain computers away from their owners.
“In recent years, new threats have materialized as new vulnerabilities have come to light, and a number of major concerns have emerged about the resilience and security of the nation’s electric power system,” the report says. “In particular, the cyber security of the electricity grid has been a focus of recent efforts to protect the integrity of the electric power system.”
The threat is compounded by the revelation that many power companies are only living up to the “minimum standards” set for cyber security by the U.S. government.
“Although malware intrusions may not have resulted in a significant disruption of grid operations so far, they still have been possible even with mandatory standards in place,” the report states.
Cyber attacks on the U.S. grid and power companies are becoming more prevalent.
Some stupid "chartist" on CNBC's Fast Money says SWKS current chart looks similar to what it did before a huge pullback years ago.
What he is completely missing is that SWKS PEG ratio indicates it is not overvalued. Buy any pullbacks. Hopefully, cooler heads will prevail by the opening bell.
The European Union has extended sanctions against Russia by six months to the end of January, keeping up pressure on the Kremlin to bring peace to eastern Ukraine. The restrictions outlaw financing for major Russian banks, ban the export of sophisticated energy-exploration equipment, and prohibit the sale of weapons and some civilian goods with military uses. Debt-stricken Greece, which has been courting Russian economic aid, shied away from a veto.
Note the sanctions will end when it starts getting cold in Europe...
Proving that the U.S. is more desperate than its Iranian counterparts to reach a nuclear deal — even if it’s a very bad one — Secretary of State John Kerry this week said the U.S. is willing to capitulate on a major sticking point in negotiations as the June 30 deadline draws near. According to The New York Times, “Mr. Kerry suggested major sanctions might be lifted long before international inspectors get definitive answers to their longstanding questions about Iranian experiments and nuclear design work that appeared aimed at developing a bomb.” Here’s Kerry’s rationale: “We’re not fixated on Iran specifically accounting for what they did at one point in time or another. We know what they did. We have no doubt. We have absolute knowledge with respect to the certain military activities they were engaged in. What we’re concerned about is going forward. It’s critical to us to know that going forward, those activities have been stopped, and that we can account for that in a legitimate way.” If Iran can get away with lying about its nuclear program, what else can it get away with? Moreover, as Hot Air’s Allahpundit asks, “What have they learned about bomb-making over the past 20 years? Shouldn’t they be required to let the UN know that before we jumpstart their economy, giving our friends Assad and Hezbollah a shot in the arm on the battlefield?” The Islamic regime may leave the table at the end of the month without an agreement, and it won’t make one iota of difference to them. The Obama administration, meanwhile, is surrendering fundamental demands to the world’s leading state sponsor of terrorism and proving a point made by former Secretary of Defense Donald Rumsfeld: “Weakness is provocative.”
Russia and Greece have signed a deal to build an extension of a prospective gas pipeline that would carry Russian gas to Europe through Turkey. Russia has promised Greece hundreds of millions of dollars in transit payments yearly if it agreed to build the pipeline. The deal comes as Greece is at an impasse in talks with its creditors for the additional loans it needs to avoid defaulting on debt payments.
Europe has an even worse energy policy then the US has had for the past six years. They are shutting down nuke plants and coal plants and are becoming severely dependent on Russian natural gas and OPEC oil. They are building solar plants in countries where the sun rarely shines. Putin understands he can neutralize NATO if he can simply threaten to shut off their nat gas.
Glancy, Prongay & Murray LLP Investigates Claims on Behalf of Avalanche Biotechnologies, Inc. Investors
The Rosen Law Firm Announces Investigation of Securities Claims Against Avalanche Biotechnologies, Inc.
Harwood Feffer LLP Announces Investigation of Avalanche Biotechnologies, Inc.
I have no idea what the basis of a lawsuit would be, other then the stock price fell. Of course, fighting the lawsuits is an additional expense
I day-traded AAVL a bit this morning, buying at 17.20 and selling at 18.20.
There was a report of insider selling prior to the phase 2 results were released.
I'm waiting to see where AAVL closes today, but we also have the Fed news and tomorrow Greece to deal with.
It would be crazy to short at this price, the stock may rise simply because shorts will begin taking profits and covering.
At the start of the trial, patients were given an injection of Lucentis. Some were injected with AVA-101 one week later, and all of the patients got a second Lucentis injection four weeks after the start of the trial. After that point, they only got injections when their physicians felt it was necessary. Those were called "rescue" injections.
Avalanche Biotechnologies Inc. said nine of the 21 patients treated with AVA-101 had stable or improved vision with two rescue injections or fewer. That compares to one out of 11 patients in the Lucentis group.
The company also said vision for patients treated with AVA-101 improved while the Lucentis patients' vision got worse over the course of the study.
Analyst Tim Lugo of William Blair & Co. said the results were "mixed" overall, with the Lucentis-treated patients doing surprisingly well. He said it will take a while until another clinical trial makes things clearer. He downgraded Avalanche shares to "Market Perform" from "Outperform" and cut his price target to $24 per share from $53.
Given that the outcome of NOT taking the drug is blindness, these results look pretty good to me! We may get more selling early on, but if AAVL can close positive today, I think we may see the $24 target quicker than expected.
The host was being a bit of a jerk and kept asking "Are you buying more of your stock?"
That being said, the CEO was sufficiently positive that we should get a pop. The drug trial was a success WRT safety. Other issues can be addressed in future trials, perhaps by varying dosage or modifying the treatment regimen.
Depending on how this performs tomorrow, AAVL may be worth a shot just for the retracement potential.
AAVL presented positive phase 2 data on their gene therapy eye treatment. The drug was safe, but not as effective as had been hoped. ONCE is in a similar position, but we all hope their therapy is more efficacious.
I think the 35% drop in AAVL was overdone since their drug passed phase 2, but Wall Street may differ. AAVL down 36%.
Blogger Richard Fernandez comment:
The crazy thing is that everyone in America knows their aristocracy is bogus. A 60 Minutes/Vanity Fair poll showed that the federal government was America’s least trusted institution. “Thirty-eight percent of Americans chose the federal government as the most corrupt institution in American society followed by the news media 17 percent, banks and financial institutions 16 percent, the police 11 percent and organized religions 7 percent.” Yet every TV show and Hollywood movie would portray the reverse. In their narrative the problem with America is flyover country, a condition that can only be cured by the feds.
The response to the Chinese hacking of goverment’s personnel database follows the typical pattern. What did the Chinese take? Nothing of importance. Like what happened at Benghazi? Nothing worth mentioning. As with the impact of losing Libya, Mosul, Ramadi, Yemen and Syria, nothing anyone should worry about. Deny, deny, minimize, spin. That’s all people who don’t fear reality, facts, actualities, God — whatever you want to call it — know how to do. In this respect even the most atheistic totalitarian is a comparative believer. Xi and Putin understand the necessity of deception and the danger of self-deception. They understand facts have consequences more than our elites.
In the end anyone who wants to win must recognize, however dimly, that the world can’t be spun. That there’s always stuff that there’s no use denying.
If you're worried about Japan dumping LEU...
Iran’s envoy to the International Atomic Energy Agency (IAEA) said that Iran would not commit to the transparency measures insisted on by the United States until they “see the final text,” Reuters reported today.
The United States urged Iran to implement the so-called Additional Protocol, which allows more intrusive access to Iranian sites, and Code 3.1, which requires from Iran early notification of the construction of any new nuclear facilities.
“These are the issues still under discussion and I believe we should wait to see the final text… and before that, we cannot prejudge anything,” [envoy] Reza Najafi told reporters.
Code 3.1, Reuters reports, “requires from Iran early notification of the construction of any new nuclear facilities.” The Additional Protocol would allow inspectors access to suspected nuclear sites with as little as two hours notice, as well as the ability to take soil samples to detect past nuclear activity.
Najafi also rejected cooperating with the IAEA on assessing the possible military dimensions (PMD) of Iran’s nuclear program. Iran claims that existing documentation on its PMD is forged.
“We can discuss new practical measures provided that the inauthentic documents and information would be put aside,” Najafi said. The IAEA has said it carefully reviews information provided for its investigations and takes nothing at face value.
Despite refusing to commit to essential conditions that would make Iran’s commitment to a nuclear agreement verifiable, Najafi believes that “reaching an agreement by the end of June is achievable,” referring to the June 30 deadline of the ongoing talks.
Najafi’s comments potentially put Iran in conflict with the European Union, which insists that no deal can be reached with Iran unless it satisfactorily answers all outstanding questions about the PMD of its nuclear research.
Facing resistance from its Pacific trading partners, the Obama administration is no longer demanding protection for pharmaceutical prices under the 12-nation Trans-Pacific Partnership, according to a newly leaked “transparency” annex of the proposed trade accord.
But American negotiators are still pressing participating governments to open up the process that sets reimbursement rates for drugs and medical devices. Public health professionals, generic drugmakers and activists opposed to the trade deal, which is still being negotiated, contend that it will empower big pharmaceutical firms to command higher reimbursement rates in the United States and abroad, at the expense of consumers.
American Airlines Group Inc Chief Executive Doug Parker voiced concern on Sunday about the risk that capacity growth among airlines could depress profits, but told Reuters that in contrast with past cycles, the rise in capacity "feels different."
Asked about investor concerns that capacity increases at U.S. airlines are starting to exceed growth in demand, Parker said, "the real question is, is this a one-time catch up for fuel prices being lower or is this airlines behaving like airlines used to and just increasing capacity because times are good.
"I don't know if we know the answer to that yet," Parker said on the sidelines of an International Air Transport Association (IATA) global airlines conference in Miami.
U.S. airlines have posted billion-dollar profits in the past year as fuel costs fell. Industry consolidation has also reduced the forces that caused past capacity growth and price wars.
The issue has flared up recently however, after American vowed to stand its ground as rival Southwest Airlines Co increases capacity in Dallas.
The comments sparked selling of U.S. airline stocks on fears that the two will begin discounting fares to compete in Dallas. The Texas city is a hub for both airlines, though they are based at different airports there.
If only someone had a cure!!! Oh, wait...
In a study last month, the Centers for Disease Control and Prevention found that hepatitis C cases across four Appalachian states — Kentucky, Tennessee, West Virginia and Virginia — more than tripled between 2006 and 2012. Kentucky leads the nation in the rate of acute hepatitis C, with 4.1 cases for every 100,000 residents, more than six times the national average, according to the CDC.
Havens has tracked 503 drug users since 2008. Now 70 percent of them have hepatitis C.
"There's a sense of inevitability about it. Some say, 'I'm surprised it took me this long,'" she said, astonished by the indifference to a disease that destroys the liver, often leading to cancer or cirrhosis, and is the leading cause of liver transplants.
With the threat bearing down on Appalachia, local governments are scrambling to figure out how to stop it, whether through needle exchange programs, drug treatment or jail.
Hepatitis C once was an urban problem that mostly afflicted minorities, said Dr. John Ward, director of the CDC's Division of Viral Hepatitis. The recent outbreak is centered in rural areas among young, white drug users.
You mean "too smart" not "to smart".
And yes, I am.
The next President determines energy policy for the next 4-8 yrs.
Brean Capital‘s Mike Burton attended and has positive things to say about mobile chip names such as Avago Technologies (AVGO), Qorvo (QRVO), Skyworks Solutions (SWKS) and Silicon Motion (SIMO):
This week we are at Computex Taipei and have had meetings with companies throughout the technology supply chain. We come away more convinced that Mobile semis (the RF names in particular) are set up for a very strong 2H and 2016, and believe that PCs may be looking at a stronger-than-seasonal 2H on the back of pent-up demand and low inventories. We are increasingly confident in the RF space (AVGO $144.16, Buy; QRVO $80.86, Buy; & SWKS $108.12, Buy), as the commentary in mobile, was upbeat with a significant upswing occurring in Chinese smartphones (and for 2 important platforms for QRVO in particular). In addition, SIMO ($34.90, Buy) not only had another announced win at Micron (this time for TLC), but commentary we picked up about SSD adoption sounded very good.