Thursday, April 25, 2013

Samsung's official Q1 earnings show $6.4 billion in net profit

Samsung Electronics has released its Q1 2013 numbers and as it predicted a few weeks ago, business continues to boom. Operating profits are 8.78 trillion won as predicted, while net profit is up to 7.15 trillion won ($6.4 billion), up sharply from the same quarter last year when its net profit was 5.50 trillion won. Last year at this time we were still anticipating details on the Galaxy S III, but this time around Samsung is on the eve of its worldwide launch for the Galaxy S 4, which should push sales even higher. According to the documents, it's maintained a "steady pace" for Galaxy S III sales, while Note II sales increased and the Tab2 series increased momentum. The news isn't as good for PCs, shipments decreased due to weak demand. earnings in its TV business were also down from last quarter, blamed on the same lower overall market demand noted by LG in its earnings. We're listening in on the earnings call now, we'll have more information on just how it made all that cash (hint: lots of Galaxy phones) in a moment.

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Source: Yonhap, Bloomberg, Reuters, Samsung (PDF)

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/pkQygMFhJoo/

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Wall Street rises on earnings, drop in jobless claims

By Caroline Valetkevitch

NEW YORK (Reuters) - Stocks rose on Thursday, boosted by gains in shares of materials companies, including iron ore producer Cliffs Natural Resources Inc , and by a drop in weekly jobless claims.

Cliffs jumped 20.6 percent to $21.97 after it posted earnings late on Wednesday that were much better than analysts had estimated. The S&P 500 materials index <.splrcma> was up 1.4 percent.

Telecommuncations companies also rose following gains in Verizon Communications Inc . The stock rose 2.1 percent to $52.87 after sources told Reuters it has hired advisers to prepare a possible $100 billion cash and stock bid to take full control of Verizon Wireless from joint venture partner, Vodafone Group Plc .

Companies reporting results in the past 24 hours lifted the growth forecast for S&P 500 companies quarterly earnings to 3.6 percent. At the start of the reporting period the forecast was growth of just 1.5 percent.

Investors have closely watched earnings to see if they would be enough to extend the market's uptrend that began at the start of the year, especially since recent economic data has suggested slowing growth in March and early April. Worries about global weakness have also hung over the market.

"Basic materials companies around the globe were worried about potential slowdown in China, and now it looks like those stocks have risen," Alan Lancz, president of Alan B. Lancz & Associates Inc., an investment advisory firm in Toledo, Ohio.

Thursday's U.S. data supported an upbeat view of the economy, however. Initial claims for state unemployment benefits in the latest week dropped a surprising 16,000 to a seasonally adjusted 339,000 versus expectations for 351,000.

The Dow Jones industrial average <.dji> was up 78.16 points, or 0.53 percent, at 14,754.46. The Standard & Poor's 500 Index <.spx> was up 11.02 points, or 0.70 percent, at 1,589.81. The Nasdaq Composite Index <.ixic> was up 28.70 points, or 0.88 percent, at 3,298.35.

United Parcel Service Inc , considered an economic bellwether, advanced 2 percent to $85.14 after the world's largest package-delivery company reported a quarterly profit above analysts' estimates.

Akamai Technologies Inc surged 19.1 percent to $43 as the best performer on the S&P 500 after the Internet content delivery company posted first-quarter earnings above Wall Street estimates late on Wednesday and also forecast second-quarter results above analysts' expectations.

But Exxon Mobil Corp and 3M Co bucked the trend as their shares fell.

Exxon fell 1.1 percent to $88.48. The largest U.S. company by market capitalization said its quarterly profit edged up, helped by its chemicals business, but oil and gas production fell.

Fellow Dow component 3M Co lost 2.4 percent to $105.29 after the diversified U.S. manufacturer posted first-quarter earnings and revenue that missed Wall Street expectations and cut its 2013 profit forecast.

(This version of the story corrects paragraph 7 to remove extra word "to" before "a surprising 16,000" to read "dropped a surprising 16,000".)

(Editing by Bernadette Baum and Kenneth Barry)

Source: http://news.yahoo.com/stock-index-futures-signal-slightly-higher-open-081750934--finance.html

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Wednesday, April 24, 2013

The Human Printer: An Automaton Powered By Art Students

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Source: http://feeds.gawker.com/~r/gizmodo/full/~3/JbOx0ZO5EkY/the-human-printer-an-automaton-powered-by-art-students

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Are you as well read as a college sophmore?

Based on the pre-college reading lists, freshmen syllabi, and core programs of more than 100 US colleges and universities, here are 60 books the experts believe that you should have read by sophomore year of college. How does your own literary experience stack up? Take our quiz and find out!

(This list was taken from: "Reading Lists For College-Bound Students, 3rd Edition" by Doug Estell, Michele L. Satchwell and Patricia?S. Wright)

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/QZzn0I6WlvE/Are-you-as-well-read-as-a-college-sophmore

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Spotbros Launches API To Let Companies Build Mini Apps For Its Mobile Messaging Platform

SpotbrosMobile messaging app Spotbros, backed by ex-Nokia President and CEO Olli Pekka Kallasvuo, has announced the launch of an API to enable companies to build mini apps for its messaging client so that they can use the platform to engage with and provide various services to customers -- not dissimilar to Kik's recently announced "Cards" feature.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/gQpTqLG2Arg/

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Iraq on edge after deadly raid on protest camp

BAGHDAD (AP) ? Security forces stormed a Sunni protest camp in northern Iraq on Tuesday, sparking deadly clashes in several towns and sharply intensifying rage at the Shiite-led government. The unrest and a spate of other attacks, mostly targeting Sunni mosques, killed at least 56 people.

The violence could mark an ominous turning point in the four-month Sunni protest movement, which is posing a stubborn challenge to Iraq's stability a decade after the toppling of Saddam Hussein.

There was no immediate claim of responsibility for the attacks on three Sunni mosques, and it was unclear if there was any connection to the storming of the protest camp. Sunni extremists such as al-Qaida have in the past targeted moderate Sunnis. But if Shiite militias were behind the attacks, it would raise fears of a return to the open sectarian fighting of 2006 and 2007 when Iraq was on the brink of civil war.

The raid on the protest camp drew harsh condemnations from Sunni leaders and foreign diplomats, and raised fears that Iraq is being pushed back toward all-out sectarian fighting like that fueling civil war in neighboring Syria.

Prime Minister Nouri al-Maliki swiftly announced the formation of a special ministerial committee to investigate what happened, underscoring worries that anger over the incident could spill out of control.

"What happened today is a total disaster," parliament speaker Osama al-Nujaifi, a Sunni, said at a televised news conference. He appealed for calm and called for those responsible to stand trial.

"If this bloodshed spreads to other provinces, God forbid, there will be a huge fire that we cannot put out," he said.

The security crackdown began at dawn in the former insurgent stronghold of Hawija, about 240 kilometers (150 miles) north of Baghdad. Like many predominantly Sunni communities, the town has seen months of protests accusing the government of neglect and pursuing a sectarian agenda.

The raid occurred four days after a checkpoint jointly run by the police and army near the town came under attack. Militants seized a number of weapons before retreating into the crowd of protesters, according to the Defense Ministry. Authorities had been trying to negotiate with local and tribal officials to hand over those responsible.

Iraq's Defense Ministry said 23 people were killed Tuesday in Hawija, including three soldiers as well as militants who were using the protest grounds as a safe haven. It said members of al-Qaida and Saddam's outlawed Baath Party were among the militants' ranks.

In its account of the raid, the Defense Ministry said it warned demonstrators to leave the protest area Tuesday before moving in.

Amateur video posted on YouTube by protest supporters shows dozens of officers in riot gear and at least four anti-riot water cannon trucks facing off against a group of men. Many of the civilians were carrying swords, and security forces could be heard urging them to retreat as a helicopter hovered overhead.

It was not possible to verify the video's authenticity, but it appeared consistent with Associated Press reporting of the incident.

As Iraqi forces tried to make arrests, they came under heavy fire from several types of weapons and were targeted by snipers, according to the Defense Ministry account. Authorities reported detaining 75 people and seizing multiple machine guns, hand grenades, daggers and swords.

Outrage over the morning raid soon spread through other Sunni parts of the country.

Gunmen tried to storm army posts in the nearby towns of Rashad and Riyadh, leaving 13 of them dead, according to Defense Ministry, police and hospital officials.

Demonstrators also clashed with police in the restive western province of Anbar.

In Fallujah, mosque loudspeakers urged residents to protest in solidarity with Hawija. About 1,000 took to the streets, with some chanting "War, war." Clashes later erupted between gunmen and security forces in the center of the city, leading authorities to announce an overnight curfew.

A policeman near a protest site in Fallujah was killed by sniper fire, according to local officials. In nearby Ramadi, protesters threw stones at a military convoy and set army vehicles ablaze.

Police and health officials separately provided details of several other attacks, including the three at Sunni mosques.

In Baghdad's Dora neighborhood early Tuesday, two bombs went off near a mosque, killing seven worshippers and wounding 17.

Then in the evening, a bomb exploded as people were leaving a mosque in the town of Muqdadiya, about 90 kilometers (60 miles) north of Baghdad, killing eight worshippers and wounding 20 others. And gunmen opened fire on worshippers leaving a mosque in northeastern Baghdad, killing three worshippers and wounding nine.

Gunmen also shot and killed an electoral official in the Shiite neighborhood of Sadr City in the capital.

The officials spoke on condition of anonymity because they weren't authorized to release details.

But the day's main focus was the storming of the camp at Hawija. The town was the site of some of the fiercest fighting between U.S. and Iraqi forces, who faced frequent deadly attacks by al-Qaida in Iraq and other insurgents.

Salim al-Jubouri, a protest spokesman in the northern city of Mosul, suggested the Hawija killings marked a turning point.

"We have given up on peaceful struggle. Our next move is armed struggle and we have weapons to do this," he said, adding that some armed tribesmen were considering heading to Hawija.

Sheik Adbul-Malik al-Saadi, an influential Iraqi Sunni cleric who lives in Jordan, urged restraint but reminded followers that they have the right to self-defense. "Whoever is killed defending his honor or property or country is a martyr," he said in a statement.

The United Nations envoy to Iraq, Martin Kobler, strongly condemned the use of violence in an emotional plea for restraint.

"I'm saddened but I'm also angered that it was not possible to prevent this tragedy," he said at a news conference in Kirkuk, pointedly noting that most of the dead were "on the side of the demonstrators."

Without laying blame for the incident, the U.S. Embassy expressed regret that blood was shed before efforts to find a peaceful solution were given time to succeed. It urged all sides to avoid violence and provocative actions, and said it has been in touch with senior leaders to help defuse political and sectarian tensions.

Smoldering tensions along Iraq's Sunni-Shiite divide have been intensifying for months, pressured by Sunni protests that began in December and what officials fear is a strengthening of al-Qaida and other Sunni-backed militants.

Iraqi Sunnis say they face discrimination, particularly in the application of a tough anti-terrorism law that they believe unfairly targets their sect. The government frequently carries out arrests in Sunni areas on charges of al-Qaida or Baathist ties.

The Sunni protests in several cities have been largely peaceful, though there have been occasional incidents of violence. In January, at least five protesters were killed in clashes with security forces in Fallujah.

Tuesday's violence came three days after Iraqis in much of the country cast ballots for provincial officials. Voting was delayed in protest-wracked Anbar and Ninevah provinces because of government concerns about security.

The Cabinet announced Tuesday that voting is now scheduled in those provinces for July 4.

___

Associated Press writers Sinan Salaheddin, Qassim Abdul-Zahra and Sameer N. Yacoub contributed reporting.

___

Follow Adam Schreck on Twitter at http://twitter.com/adamschreck

Source: http://news.yahoo.com/iraq-edge-deadly-raid-protest-camp-195825182.html

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More rain expected for already swollen Midwest rivers

CLARKSVILLE, Mo. (AP) ? Communities along the Mississippi River and other Midwestern waterways are vigilantly eyeing ? and in some cases hastily fortifying ? makeshift levees to hold back floodwaters that meteorologists say could worsen or be prolonged by looming storms.

An inch of rain was expected to fall from Oklahoma to Michigan through Tuesday, a new drenching that led the National Weather Service to heighten the forecast crest of some stretches of rivers while blunting the progress of other waterways' slow retreat.

Mark Fuchs, a National Weather Service hydrologist, said the latest dousing could be especially troubling for communities along the Illinois River, which he said is headed for record crests.

"Along the Illinois, any increase is going to be cause for alarm, adding to their uncertainty and, in some cases, misery," he said late Monday afternoon.

Last week's downpours brought on sudden flooding throughout the Midwest, and high water is blamed for at least three deaths. Authorities in LaSalle, Ill., spent Monday searching for a woman whose van was spotted days earlier near a bridge, and a 12-year-old boy was in critical condition after being pulled from a river near Leadwood, Mo., about 65 miles south of St. Louis.

The additional rain isn't welcome news in Clarksville, Mo., about 70 miles north of St. Louis.

Days after bused-in prison inmates worked shoulder to shoulder with the National Guard and local volunteers to build a makeshift floodwall of sand and gravel, the barrier showed signs of strain Monday. Crews scrambled to patch trouble spots and build a second sandbag wall to catch any water weaseling through.

In Grafton, Ill., some 40 miles northeast of St. Louis, Mayor Tom Thompson said small community was holding its own against the Mississippi that by early Monday afternoon was 10 feet above flood stage. Waters lapped against some downtown buildings, forcing shops such as Hawg Pit BBQ to clear out and detours to be put up around town ? one key intersection was under 8 inches of water.

"If it gets another foot (higher), it's going to become another issue," Thompson said. Many businesses "are kinda watching and holding their breath. ... Some things are going to really be close to the wire."

Elsewhere, smaller rivers caused big problems. In Grand Rapids, Mich., the Grand River hit a record 21.85 feet, driving hundreds of people from their homes and flooding parts of downtown.

Spots south of St. Louis aren't expected to crest until late this week, and significant flooding is possible in places like Ste. Genevieve, Mo., Cape Girardeau, Mo., and Cairo, Ill. Further downriver, flood warnings have been issued for Kentucky and Tennessee.

___

Salter reported from St. Louis.

Source: http://news.yahoo.com/more-rain-expected-already-swollen-rivers-070400840.html

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