Netflix regains 600K US subscribers in 4Q

Saturday, January 28th, 2012

FILE – In this Nov. 22, 2010 photo, a movie selected from among Netflix’s “Watch Instantly” titles begins to download on a home computer screen in New York. Netflix Inc., reports quarterly financial results Wednesday, Jan. 25, 2012, after the market close.(AP Photo/James H. Collins, file)

FILE – In this Nov. 22, 2010 photo, a movie selected from among Netflix’s “Watch Instantly” titles begins to download on a home computer screen in New York. Netflix Inc., reports quarterly financial results Wednesday, Jan. 25, 2012, after the market close.(AP Photo/James H. Collins, file)

SAN FRANCISCO (AP) ? Netflix regained 600,000 U.S. customers in the fourth quarter as the video subscription service began to recover from a revolt against a big price increase.

Figures released Wednesday show Netflix Inc. ended December with 24.4 million subscribers in the U.S. That was up from 23.8 million at the end of September.

The subscriber uptick is a positive sign for Netflix after several months of upheaval that battered its stock. Netflix lost 800,000 subscribers last summer after raising its U.S. prices by as much as 60 percent.

The fallout contributed to a 14 percent decrease in Netflix’s fourth-quarter earnings.

Netflix made $40.7 million, or 73 cents per share, in the final three months of last year. That compares with income of $47.1 million, or 87 cents per share, a year earlier.

Investors had been bracing for a bigger drop-off. The company’s performance easily exceeded the average earnings estimate of 54 cents per share among analysts surveyed by FactSet.

Fourth-quarter revenue climbed 47 percent from the previous year to $876 million ? $19 million above analyst projections.

Netflix’s stock soared $11.63, or more than 12 percent, to $106.67 in extended trading. During the regular session, it increased $2.37, up 2.6 percent.

The stock still has a long way to go to return to its peak of nearly $305, which was reached in July, around the same time that Netflix announced the price increase that outraged customers.

But the fourth-quarter results should help bolster confidence in Netflix CEO Reed Hastings, who had been lambasted for miscalculating how subscribers would react to the higher prices.

Hastings had promised Netflix would work to lure back customers, and the fourth-quarter gains were even better than he had forecast.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-01-25-US-Earns-Netflix/id-6dfbe39d4d4c477197eaf511ee2d462b

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Stocks lowered by mixed economic data

Saturday, January 28th, 2012

?A brief morning rally pushed the Dow Jones industrial average above its highest closing price since the financial crisis, the Dow closed down 22 points at 12734.?

A brief morning rally pushed the Dow Jones industrial average above its highest closing price since the financial crisis Thursday, but stocks closed lower after mixed economic data tempered traders’ optimism.

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Solid news on factory orders and strong earnings from U.S. manufacturers highlighted one of the economy’s bright spots before the market opened. The Dow and broader indexes turned negative after weaker reports on home sales and future economic growth were released in the late morning.

The Dow and other indexes are still up sharply for the year, and the Dow is near its highest level since May 2008. Traders appear less afraid of spillover damage from the European debt crisis, and data on jobs and manufacturing have been consistently strong.

“With global risk off center stage and attention going back to the fundamentals, this market was ready to explode, which is exactly what it is doing,” said Doug Cote, chief market strategist with ING Investment Management.

The government reported early Thursday orders to factories for long-lasting manufactured goods increased in December for the second straight month, and a key measure of business investment rose solidly.

That strong demand was apparent in quarterly earnings reports from U.S. manufacturers. 3M stock closed 1.3 percent higher after its fourth-quarter profit beat Wall Street’s estimates.

Caterpillar, the world’s biggest heavy equipment maker, rose 2.1 percent, the most of the 30 companies in the Dow, after beating analysts’ estimates last quarter. The company expects to do the same this year as global demand remains high.

Stocks traded broadly higher until mid-morning, when the government reported an unexpected drop in new home sales in December, capping the worst year for home sales on records dating to 1963. The decline underscored the housing market’s continued drag on the economy.

A private gauge of future economic activity also grew more slowly than expected.

The Dow closed down 22.33 points, or 0.2 percent, at 12,734.63. It had traded up as much as 84.99 points early Thursday. 3M and Caterpillar led the gains.

AT&T dragged the Dow lower, falling 2.5 percent after its earnings missed Wall Street’s forecasts. The company remains heavily dependent on Apple’s iPhone, which it pays to subsidize, but recently lost its exclusive rights to sell the phone in the U.S.

The Dow is within reach of its post-financial crisis high of 12,810.54, reached in April 2011. The last time it closed higher than that was on May 20, 2008, when it settled at 12,828.68. The Dow’s post-crisis high during the trading day was 12,928.45, reached on May 2, 2011.

The Dow is up 4.2 percent so far this year. The Standard & Poor’s 500 index and Nasdaq composite average have gained even more.

The Dow would need to rise another 11 percent to get to its record high close of 14,164.53, reached on Oct. 9, 2007.

The S&P 500 closed down 7.63 points, or 0.6 percent, at 1,318.43. It was dragged lower by volatile financial companies and telecommunications firms including AT&T. The Nasdaq shed 13.03 points, or 0.5 percent, to close at 2,805.28.

Stocks had their highest close in eight months Wednesday after the Federal Reserve said it plans to keep interest rates extremely low until late 2014 to encourage lending and investment and support the economic recovery.

The yield on the 10-year Treasury note fell to 1.93 percent from 1.99 percent late Wednesday. The prospect of more bond-buying by the Fed helped make Treasurys more attractive. A bond’s yield falls as demand for it increases.

Among the other U.S. companies making big moves after reporting quarterly earnings:

? Time Warner Cable Inc. rose 7.8 percent after the company reported earnings that were far above analysts’ estimates. The national cable TV provider also raised its dividend 17 percent to 56 cents per share and announced plans to buy back more of its own stock.

? United Continental Holdings, the parent company of United and Continental airlines, surged 6.3 percent. The company’s fourth-quarter loss narrowed, its adjusted earnings were more than double what analysts had expected and the cost of integrating the two companies fell.

? Netflix soared 22.1 percent, the most of any stock in the S&P 500, after the video streaming and DVD-by-mail company reported a huge gain in customers and a bigger fourth-quarter profit than analysts had expected.

? Colgate-Palmolive rose 1.9 percent after saying it will raise prices in the U.S. for the first time in years to cover higher costs for materials. The company’s profit declined last quarter, but core sales in emerging markets were much stronger.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/s5rCQ3MbkWI/Stocks-lowered-by-mixed-economic-data

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Sales of gold up on eBay amid stock market turmoil

Tuesday, August 16th, 2011

FILE – In this Feb. 24, 2010 file photo, an eBay logo is seen at their offices in San Jose, Calif. EBay said Thursday, Aug. 12, 2011, that during the week that ended Aug. 6 the number of gold buyers on its site rose 11 percent compared with the weekly average throughout this year. The number of gold sellers rose 14 percent above the year’s weekly average as well.(AP Photo/Paul Sakuma, File)

FILE – In this Feb. 24, 2010 file photo, an eBay logo is seen at their offices in San Jose, Calif. EBay said Thursday, Aug. 12, 2011, that during the week that ended Aug. 6 the number of gold buyers on its site rose 11 percent compared with the weekly average throughout this year. The number of gold sellers rose 14 percent above the year’s weekly average as well.(AP Photo/Paul Sakuma, File)

(AP) ? For gold sellers on eBay, the recent stock market turmoil has been a boon for business.

Gold and silver sales on eBay had already been rising steadily over the past several years ? so much so that eBay Inc. created a special area in May to make it easier for buyers to find sellers.

Now, activity on that part of the site, the Bullion Center, is intensifying as consumers unnerved by the economic uncertainty flock to gold in hopes it will be a stable investment.

“When people are coming down to the question, ‘Do they want to have cash in the bank or gold in their hands?’ the answer is they’d rather have gold or silver,” said Jacob Chandler, CEO of Great Southern Coins, the largest seller of precious metals on eBay.

The stock market just ended one of its most volatile weeks in years, prompted in part by a downgrade in the nation’s credit rating and fears of another recession. The Dow Jones industrial average fell nearly 6 percent on Monday, its worst one-day drop since December 2008. Then the index rose Tuesday, fell Wednesday and rose Thursday and Friday to end the week 2 percent lower than a week ago.

Through most of last week, the average selling price increased for gold bullion ? bars or coins stamped with their weight and level of purity.

According to the most recent data available from eBay, sales of 1-ounce gold American Eagle coins and 1-ounce gold Pamp Suisse bars rose steadily from Aug. 5 to Wednesday, before dipping slightly on Thursday.

On Aug. 5, when Standard & Poor’s lowered the nation’s credit rating, American Eagle coins were selling for an average of $1,800 among eBay’s featured sellers. The average price of the coins, produced by the U.S. Mint, rose more than 8 percent to $1,952 on Wednesday, before dropping to $1,915 on Thursday.

The Pamp Suisse brand of gold bars sold for an average of $1,787 on Aug. 5 and climbed nearly 8 percent to $1,927 by Wednesday. On Thursday, the bars dropped slightly to $1,890.

Even before last week’s market turbulence, investors were cautious because economic signals in the U.S. and overseas pointed toward trouble.

The Dow index fell 6 percent in the week ending Aug. 6. That week, the number of gold buyers on eBay rose 11 percent compared with the year’s weekly average. The number of gold sellers rose 14 percent. EBay would not provide the total number of buyers and sellers.

“With all the turmoil in the markets, this is seen as a way to diversify,” said Anthony Delvecchio, eBay’s vice president of business management and strategy for eBay’s North America business.

EBay, which is based in San Jose, Calif., does not impose minimum purchase amounts for bullion. Sellers offer gold both through auctions and “Buy It Now” fixed-price sales.

The increased popularity of gold on eBay echoes what’s happening in the broader gold market, where prices have spiked during the past two years.

Gold traded at about $900 per ounce in the summer of 2008, before the financial crisis unfolded that year. It passed $1,600 in late May and briefly rose above $1,800 for the first time on Wednesday before pulling back to $1,784. On Friday, gold fell to $1,740.60 per ounce, still nearly twice the summer 2008 prices.

Great Southern Coins has benefited from this uptick. Chandler said the company is selling more gold lately, and its silver sales remain strong, too. Chandler estimated his business has nearly quadrupled in the past 45 days, and he said it appeared to be up about five or six times during the past week, with most of this growth coming from sales on eBay.

Daniel Hirsch, a New York-based statistician who recently purchased more than a dozen gold coins on eBay from Great Southern Coins, said he started buying gold less than a year ago in an effort to expand his investment portfolio.

“It’s kind of a safe haven and a hedge against low interest rates,” he said.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2011-08-14-EBay-Gold%20Sales/id-899d3c2d40c44b2189080b6f652c6b76

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Global diabetes rate soars ? Health & Fitness ? Bangor Daily News

Wednesday, June 29th, 2011

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Nearly 10 percent of the world?s adults have diabetes, and the prevalence of the disease is rising rapidly. As in the United States and other wealthy nations, increased obesity and inactivity are the primary cause in such developing countries as India and in Latin America, the Caribbean and the Middle East.

That?s the sobering conclusion of a study published Saturday in the journal Lancet that traces trends in diabetes and average blood sugar readings in about 200 countries and regions over the past three decades.

The study?s findings predict a huge burden of medical costs and physical disability ahead in this century, as the disease increases a person?s risk of heart attack, kidney failure, blindness and some infections.

?This study confirms the suspicion of many that diabetes has become a global epidemic,? said Frank Hu, an epidemiologist at Harvard?s School of Public Health who was not involved in the research. ?It has the potential to overwhelm the health systems of many countries, especially developing countries.?

Worldwide, the prevalence of diabetes in men older than 25 rose from 8.3 percent in 1980 to 9.8 percent in 2008. For women older than 25, it increased from 7.5 percent to 9.2 percent.

?This is likely to be one of the defining features of global health in the coming decades,? said Majid Ezzati, an epidemiologist and biostatistician at Imperial College London, who headed the study. ?There?s simply the magnitude of the problem. And then there?s the fact that unlike high blood pressure and high cholesterol, we don?t really have good treatments for diabetes.?

There are two types of diabetes, a metabolic ailment in which the body is unable to rapidly or adequately move sugar out of the bloodstream and into tissues after a meal. Type 1 is an autoimmune disease that comes on in childhood and requires that a person take insulin shots to survive. Type 2 accounts for 90 percent of cases and generally comes on after age 25. It is controlled by insulin, pills and, in some cases, weight loss and exercise.

The disease is most common in the islands of the South Pacific ? Oceania ? where an explosion of severe obesity, coupled with a genetic proclivity for diabetes, has driven diabetes prevalence to 25 percent in men and 32 percent in women in some places. The Gulf States also have very high rates, with Saudi Arabia ranking No. 3, Jordan No. 8 and Kuwait No. 10 in diabetes among men in 2008.

Among high-income countries, the United States had the steepest rise over the past three decades for men and the second-steepest rise for women (behind Spain). In 2008, 12.6 percent of American men and 9.1 percent of women had the disease.

China and India, however, are the nations that will be most responsible for what happens over the next several decades. Together, they account for 40 percent of people with diabetes today. In contrast, 10 percent of the world?s total live in the United States and Russia.

Barry M. Popkin, a professor of nutrition at the University of North Carolina who has done research in China, said the increase in diabetes there has just begun. That?s because diabetes lags behind inactivity and obesity, both of which have increased during China?s economic boom.

?In China, diabetes is essentially a problem of this decade. It?s a problem of the new millennium,? Popkin said. For that reason, he thinks the findings by Ezzati and his colleagues understate the problem.

?The rate of increase they found is very slow compared to what we are going to see in the next 20 years across the globe based on the current dynamics of diet, inactivity and obesity,? Popkin said. ?You fast-forward and this scenario, which is scary enough, is going to be terrifying.?

India and its neighbors Pakistan and Bangladesh are unusual cases.

Over the past 30 years, men and women there have experienced little increase in obesity. However, those countries are among ones with the biggest rise in ?fasting plasma glucose,? a blood sugar measurement taken before breakfast that best reflects diabetes risk.

People in this region probably have a genetic predisposition for diabetes. At any weight above normal, they are more likely to develop the disease than many other ethnic groups. Malnutrition during a woman?s pregnancy and in a child?s first years of life ? problems that still exist in some parts of the region ? also appear to increase a person?s chance of developing diabetes later in life.

Overall, though, ?diabetes tracks very well with economic development and urbanization,? said Hu, the Harvard researcher. Much of Africa and some other big countries, such as Indonesia, are rapidly heading that way.

In the study, each country?s diabetes prevalence and average fasting blood sugar are ?age-standardized? calculations. Each country is treated as if it had the same age structure of its adult population ? the same number of people age 25 to 29, the same number 30 to 34, and so on. Age standardization allows researchers to compare countries whose populations have a high percentage of old people to nations with fewer old people.

The actual number of people in the world with diabetes, however, reflects not only the underlying rate of the disease in each age group but also the size and structure of the global population today.

Between 1980 and 2008, the number of diabetics more than doubled ? from 153 million to 347 million. About 30 percent of that increase came from rising prevalence of the disease in all age groups. About 30 percent came from population growth, since more people means more diabetics. About 40 percent came from the aging of the world population; diabetes is more common in older people.

Is it a consolation that ?demographic factors? such as population growth and aging explain most of the increase in the number of diabetics?

?Not if you are the minister of health,? Ezzati said, and ?you still have to find a way to pay for the care of the number of diabetics there are in your country.?

Ezzati and his colleagues Goodarz Danaei and Mariel M. Finucane, both of Harvard, analyzed about 370 health surveys and epidemiological studies. Fasting blood sugar was lowest in sub-Saharan Africa, parts of Southeast Asia and Andean South America. Timor-Leste (which used to be part of Indonesia), Myanmar, Peru, Burundi and Cambodia were the bottom five countries for men?s blood sugar in 2008.

Source: http://bangordailynews.com/2011/06/27/health/global-diabetes-rate-soars/

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