Stocks edge higher despite economic data

NEW YORK — U.S. stocks were slightly higher in midday trading Wednesday, recovering a portion of the losses they posted the day before, as investors set aside two disappointing economic reports.

Monsanto jumped after the company announced a big stock buyback plan and posted earnings that beat analysts' estimates. CBS and other broadcasters rose after the Supreme Court ruled in favor of them over a startup Internet company in a closely watched copyright case.

KEEPING SCORE: The Dow Jones industrial average rose 24 points, or 0.1 percent, to 16,839 as of 12:20 p.m. Eastern time. The Standard & Poor's 500 index rose four points, or 0.2 percent, to 1,954 and the Nasdaq composite rose eight points, or 0.2 percent, to 4,359.

BROADCAST BOOST: CBS and other TV companies advanced after the Supreme Court ruled that Aereo would have to pay them when it takes television programs from the airwaves and allows subscribers to watch them on smartphones and other portable devices. CBS rose $2.53, or 4 percent, to $61.37 and Walt Disney, which owns ABC, rose $1.18, or 1.4 percent, to $83.86. TV station owners also rose. Sinclair Broadcasting jumped $4.14, or 15 percent, to $33.38.

THE ECONOMY: In a revised estimate, the Commerce Department said the U.S. economy shrank at annual rate of 2.9 percent in the first three months of the year. Two-thirds of the downward revision reflected a decline in health care spending. The Commerce Department also said orders for long-lasting goods sank 1 percent in May as demand for military equipment fell sharply.

THE CONTEXT: Investors weren't fazed by the government's downward revision of GDP in the first quarter, noting that many investors have already attributed weakness in the U.S. during the first three months of the year to unusually harsh winter weather.

"We need to be looking toward earnings season next month, not at a report from three months ago," said Anastasia Amoroso, a global market strategist with J.P. Morgan Funds.

OIL EXPORTS: Two energy companies, Pioneer Natural Resources and Enterprise Products, rose following a Wall Street Journal report that said the U.S. government was loosening a longstanding ban by letting two companies sell a certain kind of unrefined American oil internationally. The newspaper said the Obama administration would allow foreign buyers to purchase a type of ultralight oil known as condensate, which can be turned into gasoline, jet fuel and diesel.

Pioneer rose $9.35, or 4 percent, to $231.00 and Enterprise rose 99 cents, or 1 percent, to $77.08.

FERTILE SOIL: Monsanto's earnings fell more than 5 percent but its overall results still beat analysts' estimates. The company, which sells corn and soybean seeds, also announced plans to spend up to $10 billion on buying its own stock. Monsanto rose $6.10 to $126.73.

RIPPED PAGES: Barnes & Noble jumped $1.26, or 6 percent, to $21.83 after the bookseller said it would become two publicly traded companies, one focused on retail bookselling and one on its Nook Media business, which sells electronic reading devices.

BONDS AND COMMODITIES: Government bond prices rose. The yield on the 10-year U.S. Treasury note, which falls when prices rise, dropped to 2.55 percent from 2.58 percent late Tuesday. Crude oil rose 16 cents to $106.19.

00.32 | 0 komentar | Read More

Expansion planned at DoubleTree Club by Hilton

Corcoran Jennison Co. plans to expand the 197-room DoubleTree Club by Hilton hotel in Dorchester's Columbia Point neighborhood.

The Boston developer has proposed a six-story, 71,000-square-foot addition that would include 86 new rooms, an expanded restaurant, kitchen and back-of-house space, function rooms and a ballroom, according to a letter of intent received by the Boston Redevelopment Authority.

The addition would take the place of a parking lot at on the northeast side of the Mount Vernon Street hotel, which is located next to the former 20-acre Bayside Exposition Center site that Corcoran Jennison lost to foreclosure in 2009 and is now owned by the University of Massachusetts-Boston.

00.32 | 0 komentar | Read More

Monsanto shares rise on 3Q beat, big share buyback

WASHINGTON — Monsanto said its earnings fell more than 5 percent in the third fiscal quarter on lower biotech seed sales, but its performance topped Wall Street estimates and the company raised the lower end of its 2014 outlook. It also announced plans to repurchase $10 billion in shares.

The combination sent shares up more than 5 percent in morning trading Wednesday.

Monsanto Co. said the $10 billion share buyback will take place over two years. The company has about $1.1 billion remaining under its previous share buyback plan.

The St. Louis company said it earned $858 million, or $1.62 per share in the three months ended May 31. That was down from $909 million, or $1.68 per share, a year ago. Revenue was virtually flat at $4.25 billion

The company's earnings beat the average analyst projection, as measured by FactSet, for earnings of $1.54 per share on revenue of $4.39 billion for the quarter.

The company raised the low end of its 2014 forecast to between $5.10 and $5.20 per share. Previously the company's estimate was for earnings of $5 to $5.20 per share.

Monsanto has dominated the bioengineered-seed business for years and recently began developing products specifically for emerging markets like Argentina, Brazil and parts of Asia. The company is also making investments in computerized tools for the agricultural sector.

Monsanto executives predict this expanded portfolio of products will allow the company to double its earnings per share over the next five years.

"The new target reflects management's confidence in the growth opportunity for the core business and transformational potential in new platforms," the company said in a statement.

Monsanto said its seed business will remain the main driver of growth through 2019, contributing an estimated $4 billion in profit over that period.

Sales of the company's best-selling product, genetically-enhanced corn seeds, declined 16 percent in the most recent three-month period as more farmers switched from planting corn to soybeans. The U.S. Department of Agriculture expects farmers to plant 6 percent more acres of soybeans this year than in 2013, amid predictions of tight supply and higher global demand.

Monsanto also sells genetically-enhanced soybeans designed to increase yield and resist herbicides and pesticides. Sales of those seeds increased 24 percent to $816 million in the last quarter.

Shares of Monsanto Company rose $6.60, or 5.5 percent, to $127.23 in morning trading. Its shares have risen more than 25 percent over the past year.

00.32 | 0 komentar | Read More

Google to show off smart home gadgets, wearables

SAN FRANCISCO — An Android update, wearable gadgets and so-called smart home devices are just some of the innovations Google is likely to show off at its two-day developer conference, which begins Wednesday in San Francisco.

In recent years, the conference has focused on smartphones and tablets, but this year Google's Android operating system is expected to stretch —into cars, homes and smartwatches.

Pacific Crest analyst Evan Wilson believes Google will unveil a new version of its Android operating system — possibly called Lollipop — with a "heavy focus" on extensions for smartwatches and smart home devices.

"We think Google will directly counter Apple's recent announcements of health products (Apple HealthKit) and home automation (Apple HomeKit)," Wilson wrote in a note to investors.

Google's I/O event comes at a time of transition for the company, which makes most of its money from advertising thanks to its status as the world's leader in online search. The company is trying to adjust to an ongoing shift to smartphones and tablet computers from desktop and laptop PCs. Though mobile advertising is growing rapidly, advertising aimed at PC users still generates more money.

At the same time, Google is angling to stay at the forefront of innovation by taking gambles on new, sometimes unproven technologies that take years to pay off —if at all. Driverless cars, Google Glass, smartwatches and thinking thermostats are just some of its more far-off bets.

On the home front, Google's Nest Labs —which makes network-connected thermostats and smoke detectors— announced earlier this week that it has created a program that allows outside developers, from tiny startups to large companies such as Whirlpool and Mercedes-Benz, to fashion software and "new experiences" for its products.

Integration with Mercedes-Benz, for example, might mean that a car can notify a Nest thermostat when it's getting close to home, so the device can have the home's temperature adjusted to the driver's liking before he or she arrives.

Nest's founder, Tony Fadell, is an Apple veteran who helped design the iPod and the iPhone. Google bought the company earlier this year for $3.2 billion.

Opening the Nest platform to outside developers will allow Google to move into the emerging market for connected, smart home devices. Experts expect that this so-called "Internet of Things" phenomenon will change the way people use technology in much the same way that smartphones have changed life since the introduction of Apple's iPhone seven years ago.

Google is also likely to unveil some advances in wearable technology. In March, Google released "Android Wear," a version of its operating system tailored to computerized wristwatches and other wearable devices. Although there are already several smartwatches on the market, the devices are more popular with gadget geeks and fitness fanatics than regular consumers. But Google could help change that with Android Wear. Android, after all, is already the world's most popular smartphone operating system.

Google may also have news about Glass, including when the company might launch a new and perhaps less expensive version of the $1,500 Internet-connected eyewear. Google will likely have to lower the price if it wants Glass to reach a broader audience. But that's just one hurdle. Convincing people that the gadget useful, rather than creepy, is another one.

00.32 | 0 komentar | Read More

New owner at Fox 25 after station swap with Cox Media

Boston TV station Fox 25 has a new owner under a surprise TV station swap announced yesterday — and the first big move is general manager Gregg Kelley, who is heading to the West Coast to helm two TV stations.

Under the switch-up, Fox Television Stations is giving Fox 25 and a Memphis TV station to Cox Media Group while Cox gives Fox two San Francisco stations.

Fox 25 will remain a Fox affiliate. Kelley is moving to San Francisco to run KTVU-TV and KICU-TV, a Fox spokeswoman confirmed. Kelley will stay on in Boston until they ink the deal.

Al Tompkins of the Poynter Institute said Fox is moving up a market with the TV station trade, as San Francisco is the sixth-largest TV market in the country and Boston is seventh.

San Francisco is also home to the 49ers football team and Fox has the TV broadcasting rights to NFC games, Tompkins noted. (The Patriots are in the AFC).

"I suspect that's the biggest motivator behind this," Tompkins said of the TV market boost and football broadcasts.

As for any on-air changes at Fox 25 which might affect morning show personalities or longtime evening anchor Maria Stephanos, Tompkins said "anything could happen" but a new owner "doesn't usually walk in and clean house on the air."

"They don't want to disturb viewers," Tompkins said.

In a joint press release, Cox President Bill Hoffman said: "This is the first time we have had a media presence in Boston and Memphis, and CMG is excited about the prospects that WFXT-TV and 
WHBQ-TV bring to our business. These new stations fit nicely into CMG's broadcast portfolio, and we look forward to having a great news presence in these two markets and competing hard with the fine local broadcasters who already reside there."

Related: 

00.32 | 0 komentar | Read More

22 athletes to be in ESPN The Magazine Body Issue

OKLAHOMA CITY — Twenty-two athletes will be featured in the ESPN The Magazine Body Issue, which will hit newsstands on July 11.

The keystone to the issue is the "Bodies We Want" section, where athletes will be featured in tasteful nude poses.

Swimmer Michael Phelps, tennis star Venus Williams, Seattle Seahawks running back Marshawn Lynch, Arizona Cardinals receiver Larry Fitzgerald, Texas Rangers slugger Prince Fielder and Oklahoma City Thunder forward Serge Ibaka will be included in the issue.

Others to appear are: Bernard Hopkins (boxing), Jimmy Spithill (sailing), Tomas Berdych (tennis), Nigel Sylvester (BMX), Omar Gonzalez (soccer), Travis and Lyn-z Pastrana (action sports/X-games), Jamie Anderson (snowboarding), Amy Purdy (Para-Olympics), Danyelle Wolf (boxing), Aja Evans (bobsled), Hillary Knight (hockey), Megan Rapinoe (USA soccer), Angel McCoughtry (WNBA), Coco Ho (surfing) and Ginger Huber (cliff diving).

00.32 | 0 komentar | Read More

What's the hash? Why hashtags for TV shows matter

NEW YORK — During fresh episodes of "Pretty Little Liars," the marketing and publicity teams at ABC Family huddle in a conference room to tweet live with fans.

So do cast members and the show's producers from where and when they can — and the dialogue often pays off.

Nielsen's Twitter tracking division said "PLL" is the top-tweeted show and ranked No. 1 for the week of June 16-22.

"From a very top level perspective we talk about twitter being the new water cooler," said Danielle Mullin, the network's vice president of marketing.

While some critics argue the second screen experience of looking at a device while a show is on serves to distract viewers, networks see nothing but an upside.

Some insight into hashtags and while watching TV:

___

HOW HASHTAGS WORK FOR VIEWERS

Hashtags make it easier to filter and search for a topic. Liz Myers, in the TV Partnerships division at Twitter, said viewers "don't have to be mutually following somebody or digging around."

Sometimes hashtags are straightforward with a show's title (#TrueBlood.) Other times they're used as conversation starters and are episode or scene specific. (The hashtag #TobyIsBack aired in a recent "PLL" episode when actor Keegan Allen's character returned from an absence.)

Myers said hashtags "can pinpoint moments, drive voting (on a competition series), create content" and offer insight into how to later talk about a show.

ENCOURAGE LIVE VIEWING

If DVR's are helping people watch TV shows at their leisure, live tweeting may provide an incentive to tune in when it counts, in real time.

"The more people who talk about it, the more people watch," said Jenn Deering Davis, co-founder and chief custom officer of Union Metrics, a company that analyzes social media use.

And it could bring in new viewers by "creating impressions for those who aren't already talking about the show to see that conversation and hopefully change the channel," added Myers.

Mullin said she believes tweets can "play into this phenomenon of FOMO — fear of missing out. When you're on Twitter and your entire feed is people talking about something, if you're not watching you start to feel left out."

REWARDING VIEWERS

Networks try to reward viewers for their tweets. Not only will they retweet fan's tweets from show accounts but sometimes air tweets on screen live, in reruns or during promos.

When it was revealed that Jen Arnold of TLC's "The Little Couple" had cancer, the network selected sentiments from fans with the hashtag #GetWellJen to show later on screen.

More and more actors, like the cast of ABC's "Scandal," are getting into the game and tweeting with fans while a show is airing.

"Back in the day you had to send a self-addressed stamped envelope to get back an 8-by-10 glossy photograph and a sticker (from a celebrity,) Mullin said.

IMMEDIATE FEEDBACK

Tweeting about a TV show, and using specific hashtags, is like an immediate focus group.

"We always look and see what people are saying about our shows and it helps us inform our strategy," said Kristen Variola, director of social media for TLC. "We want to give (viewers) what they want. If we see something is really resonating with the fans we like to create more content around that."

Mullin added, "In this day and age it's very hard for any showrunner or writer's room to stay off social media. It's a great way to hear the voice of the people. ... If there's a certain character people don't like or a certain couple people love. (Feedback) is a great tool for storytellers to use when deciding what direction to take their show in."

KEEPS MOMENTUM GOING

Tweeting about a show also keeps people interested for the long haul.

Said Variola: "We are looking at social media as a way to connect with fans year-round, not just when our shows are on the air. With TLC's 'Cake Boss,' we're talking about cakes year round. Not just when you see (its star) Buddy Valastro on the air."

OTHER SOCIAL MEDIA PLATFORMS COUNT TOO

Twitter isn't the only form of social media engaging TV viewers. ABC Family said during big "tent pole episodes" (like a premiere, finale or special episode) "someone is monitoring Pinterest and live pinning fashion tips, somebody is taking snippets of scenes and putting them up on Tumblr as gifs. Instagram is hugely popular. We have talent taking selfies of themselves while they're live tweeting and they're posting those selfies. ... Fans love it."

___

Online:

Follow Alicia Rancilio online at http://www.twitter.com/aliciar

___

00.32 | 0 komentar | Read More

ABC says Muir replacing Sawyer at 'World News'

NEW YORK — Diane Sawyer is stepping down as anchor of ABC's "World News" in September after nearly five years in the job, to be replaced by her regular substitute, David Muir.

The network also said Wednesday that George Stephanopoulos will add the role of chief anchor for live news events to his current jobs as "Good Morning America" co-host and host of the Sunday-morning "This Week" political show.

The exit of Sawyer, 68, is not unexpected. She will remain at ABC News to concentrate on landing big interviews and doing prime-time specials. "World News" was a steady second to Brian Williams at NBC during her tenure, although the ABC broadcast has made gains among younger viewers.

Muir, 40, has been groomed for the job. He steps in when Sawyer is away, and traveled to China to report with her in 2010. He has a high profile on "World News" with his regular "Made in America" series where he does stories across the country.

Muir, from Syracuse, New York, swept floors as a teenager in a local television newsroom. He is a graduate of Ithaca College, just like Bob Iger, head of ABC's parent Walt Disney Co.

Behind him, ABC is expected to make a strong bid to replace Williams at the top of the evening news ratings, hoping to repeat the success it has had in the morning with "Good Morning America."

As chief anchor of live news events, Stephanopoulos takes over a role traditionally held by the evening news anchor at most network news divisions. Evening news anchor was once considered the top job at a broadcast news division, but ABC does not want to disrupt the team of Stephanopoulos and Robin Roberts that has led the network to the top in the lucrative morning market.

The evening news switch will take place on Sept. 2, said James Goldston, ABC News president.

___

Online:

http://abcnews.go.com/

00.32 | 0 komentar | Read More

Review: How to follow World Cup beyond live video

NEW YORK — Every World Cup game is being shown on television and online in the U.S., but many will require a cable or satellite TV subscription, even for Internet streaming. What if you don't have one?

Good news: In 2014, there are more apps and other options than ever before. As the World Cup transitions into the knockout stages, here's a look at how to keep up on everything to do with the tournament in Brazil, including the U.S.-Germany match on Thursday.

— UNIVISION:

To stream games online using ESPN's website or app, viewers need a cable or satellite TV subscription. It's not enough to have Internet service through the cable provider.

But there is another way to watch for free — legally. Spanish-language channel Univision is streaming the first 56 World Cup games for free on its website and Deporte app. The only drawback (for some) is that the commentary is in Spanish.

Unfortunately, even the games on Univision will require a cable or satellite subscription once the quarterfinals begin on July 4.

Univision: http://futbol.univision.com

— RADIO:

ESPN Radio and Sirius XM are broadcasting all games over the radio. Simply find your local ESPN station, tune in at game time and let the drama unfold. Sirius requires a satellite radio subscription.

This is handy if you are watching the game on Univision but want to hear English-language commentary, though Internet streams can run a minute or so behind the broadcast.

ESPN stations: http://sports.espn.go.com/espnradio/affiliate

— APPS:

There is a wide array of smartphone apps to help World Cup fans.

The official FIFA app for Apple and Android phones gives you real-time updates of all games, updated rankings, photos and video highlights and selected tweets from FIFA and others.

If you're looking for a source outside the sport's governing body, check out Forza Football, Vubooo's World Cup 2014 and World Soccer Finals for Apple and Android devices, and in some cases Windows phones as well. You don't get live video, but the apps offer lineups, game statistics, live updates, rankings and video highlights.

These apps offer similar information, but they are all free so you can try them all and see which you like best.

FIFA app: http://www.fifa.com/mobile

— MEDIA SITES:

ESPN's website is chock full of stats and video highlights that you can access even if you don't have cable. Many news sites, including The New York Times and The Wall Street Journal, offer live blogs of all of the games, offering insights and commentary. This can be a useful way to keep up, especially now that two games are going on at the same time.

My favorite live blog is from The Guardian. It provides an insightful running commentary, along with a heavy dose of snarkiness and an ongoing debate about which country's national anthem is the best.

Guardian World Cup page: http://www.theguardian.com/football/world-cup-2014

— SOCIAL MEDIA:

Twitter is displaying World Cup scores on its home page. All but two teams have official accounts, and 300 players are on Twitter. FIFA's Twitter accounts are FifaWorldCup and Fifacom. Clicking on the official Twitter hashtags, WorldCup and WorldCup2014, will take you to Twitter's hubs for the event.

Facebook has an official World Cup section called "Trending World Cup." It includes the latest scores, game highlights and a feed with tournament-related posts.

Google has been doing a different Google Doodle on its main search page each day. One memorialized Paul the Octopus, an octopus that predicted World Cup winners until his death in 2010.

Google also has special Street View pages that highlight the painted streets of Brazil and the inside of all World Cup stadiums. The figure that guides users through Street View now has a white T-shirt and a soccer ball.

A dedicated Google Trends page showcases all trending topics related to the World Cup. Also, when you search for anything related to the World Cup, including just the name of a country in the tournament, stats and other information appear in a graphical box up top.

Google: http://www.google.com/trends/worldcup

Twitter: https://blog.twitter.com/2014/follow-the-worldcup-action-on-twitter

Facebook: https://www.facebook.com/worldcup

— HIT THE BAR:

Even if you have a TV, the best way to watch the World Cup is with other fans. Ask local bars and restaurants where and when the games will be shown.

But don't limit yourself to those: community centers, parks or other non-traditional places might be showing the games. In Minneapolis, for example, the Riverview Theater showed the June 16 U.S.-Ghana game for free. In New York, games are being shown outdoors at The Archway under the Manhattan Bridge.

If you don't have a cable or satellite TV subscription, this is about the only way you can watch live video with English commentary in the U.S. ABC television stations are showing 10 of the 64 games, including the final, over the air for free. But streaming is through ESPN, so you still need the subscription.

So do your research, and you might find some unexpected places nearby showing the games — and find out which neighbors are fellow fans.

00.32 | 0 komentar | Read More

US economy shrank at steep 2.9 percent rate in Q1

WASHINGTON — The U.S. economy shrank at a steep annual rate of 2.9 percent in the January-March quarter as a harsh winter contributed to the biggest contraction since the depths of the recession five years ago. But the setback is widely thought to be temporary, with growth rebounding solidly since spring.

The first-quarter contraction reported Wednesday by the Commerce Department was even more severe than the 1 percent annual decline it had estimated a month ago. Besides the harsh winter, much of the downward revision reflected a drop in health care spending. Another factor was a bigger trade deficit than initially estimated.

Though such a sharp decline would typically stoke fears of another recession, analysts see it as a short-lived result of winter storms that shut factories, disrupted shipping and kept Americans away from shopping malls and auto dealerships. They say the economy is rebounding in the April-June quarter. Many expect growth to reach a robust annual rate of at least 3.5 percent this quarter.

Most analysts also foresee the economy expanding at a healthy rate of around 3 percent in the second half of this year.

Reports on consumer spending, manufacturing and business investment have shown a solid rebound this spring. Orders for big-ticket manufactured goods excluding military hardware and for core capital goods, a proxy for business investment, rose strongly in May, a report Wednesday showed.

"We have ample evidence that the first quarter was just a temporary setback for the economy, and we are climbing out of the hole in the current quarter," said Stuart Hoffman, chief economist at PNC Financial.

Last quarter's 2.9 percent annual decline in economic activity, as measured by the gross domestic product, followed a 2.6 percent gain in the fourth quarter. It was the weakest showing since the economy shrank at a 5.4 percent annual rate in the first quarter of 2009 in the midst of the Great Recession.

Most of the downward revision from the government's previous estimate of a 1 percent annual decline reflected a change in the estimate of spending on health care. The government had previously estimated a strong gain in this category reflecting implantation of provisions of the Affordable Care Act.

But data derived from an actual survey showed the government's estimate was far too optimistic. Health care spending, instead of rising at a 1 percent rate, had fallen in the first quarter at a 0.2 percent rate.

Analysts say solid hiring, growth in manufacturing and surging auto sales are contributing to a stronger economy. A stumbling housing recovery has been a concern. But even there, recent data on home sales and construction have been encouraging.

"The larger contraction in GDP in the first quarter is not a sign that the US is suffering from a fundamental slowdown," said Paul Dales, senior U.S. economist at Capital Economics.

If economists are correct that annual growth will reach around 3 percent in the second half of the year, it would be a sharp improvement from the 2 percent annual pace of the first five years of this subpar economic recovery.

"We should have a much better second half this year and a much better 2015 than 2014," said Mark Zandi, chief economist at Moody's Analytics.

Zandi said he's forecasting growth of 3.5 percent to 4 percent in 2015. If he's correct, that would be the strongest year since the economy grew 3.8 percent in 2004.

"In past recoveries, we have always gotten a year of very strong growth," Zandi said. "I think we will get that in 2015," helped by a long-awaited improvement in wage growth.

Of course, the optimistic projections could prove too rosy. Analysts see risks to their forecasts, primarily the possibility that tensions in the Middle East could cause oil prices to surge given the deteriorating crisis in Iraq.

Surging energy prices have preceded earlier economic slowdowns, including the most recent recession.

00.32 | 0 komentar | Read More