Genomic Sequencing Firm Acquired by Chinese Company

Originally posted on 24/7 Wall St.:

The United States has seen its share of tension and protests over Chinese efforts to make acquisitions in North America, but usually this is over oil and gas assets. So what is there to say about a genomics sequencing company being acquired by the Chinese? Complete Genomics Inc. (NASDAQ: GNOM) is being acquired by BGI-Shenzhen in a move that will combine whole human genomic sequencing with a Chinese gene sequencing company based in Shenzhen, China.

Complete Genomics issued a press release showing that the company has now entered into a definitive merger agreement with BGI-Shenzhen where all outstanding shares of Complete’s common stock will be acquired for $3.15 per share. The deal is an all-cash buyout and represents approximately a 54% premium to the $2.04 closing price per of Complete’s stock back on June 4, 2012 from when it announced that it was going to evaluate strategic alternatives…

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Genomic Sequencing Firm Acquired by Chinese Company

Originally posted on 24/7 Wall St.:

The United States has seen its share of tension and protests over Chinese efforts to make acquisitions in North America, but usually this is over oil and gas assets. So what is there to say about a genomics sequencing company being acquired by the Chinese? Complete Genomics Inc. (NASDAQ: GNOM) is being acquired by BGI-Shenzhen in a move that will combine whole human genomic sequencing with a Chinese gene sequencing company based in Shenzhen, China.

Complete Genomics issued a press release showing that the company has now entered into a definitive merger agreement with BGI-Shenzhen where all outstanding shares of Complete’s common stock will be acquired for $3.15 per share. The deal is an all-cash buyout and represents approximately a 54% premium to the $2.04 closing price per of Complete’s stock back on June 4, 2012 from when it announced that it was going to evaluate strategic alternatives…

View original 101 more words

Why It’s Unnecessary to Completely Reinvent the iPhone Year After Year

Originally posted on Tech:

As I was waiting in line for Apple’s iPhone event last Wednesday, I was talking with a number of my analyst colleagues. We all agreed that no matter what Apple launched, there would be folks in the media writing headlines about why the iPhone was disappointing, what it was missing and being generally negative. At my firm’s publishing site, Tech.pinions, we wrote a range of content trying to add perspective to this discussion. Through the process, we had great conversations from people on all different parts of the consumer-adoption curve.

It’s important to remember that much of this sentiment is held by the tech media and the rather small group (from a macro perspective) of early adopters. But this sentiment arises because Apple has done so much to define the smart-phone category, playing a major role in leading this segment to maturity. To get there, Apple has led the…

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U.S. Unemployment Pointed Toward New Low — Gallup

Originally posted on 24/7 Wall St.:

The most recent Gallup unemployment survey reported that the unadjusted U.S. unemployment rate in mid-September fell from 8.1% in August to 7.9%. The polling firm’s seasonally adjusted rate remained flat at 8.1%.

If the mid-month rate holds, it would mark the lowest reading since Gallup began collecting this data in January 2010. In September 2011, the unadjusted unemployment rate was 8.6%.

The percentage of Americans working part-time but continuing to seek full-time employment fell from 9% in August to 8.6% in September. That’s down from 9.7% at this time last year and the lowest level since November 2010, when the number was 8.4%.

The number of underemployed Americans also fell, from 17.1% in August to 16.6% in mid-September. That is significantly lower than the 18.3% reading in September 2011 and the lowest level since January 2010.

Gallup suggests that the uptick in employment is due to the seasonal impact of…

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S&P 500 Chart Looking for Support

Originally posted on 24/7 Wall St.:

The markets are trying to hold on to some footing after big post-QE3 gains from last week. Today we are analyzing the SPDR S&P 500 (NYSEMKT: SPY) as it is the most liquid of all ETFs. With Bank of America Corp. (NYSE: BAC) leading banks lower with its shares down over 2% and with Alcoa Inc. (NYSE: AA) leading metals lower after poor Empire Manufacturing data, today’s charts are going to need a much better review than the buying-binge we saw last week.

For Monday’s chart analysis, Phil Erlanger said, “We are seeing a slow start to the week in trading. Key levels to watch today: Resistance of 147.98 and support on SPY at 146.63. If we break above the Pivot line (pink) at 147.37 we can tag a run at the resistance. The previous session (Friday) two hour low (brown line) at 146.76…

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Today’s Market Winners and Losers

Originally posted on 24/7 Wall St.:

The stock market is down Monday, with the Dow Jones Industrial Average down 0.08%, the Nasdaq down 0.27% and the S&P 500 down 0.21%. Today’s winners were both getting bought out. One of today’s losers is a pharmaceutical company which reported mixed results on a drug trial, while another loser had its shares downgraded by a big bank.

These are Monday’s market winners and losers.

Biggest Winners

Shares of IRIS International Inc. (NASDAQ: IRIS) are up 44.93% to $19.45 on trading volume of 1.4 million shares. Danaher Corp. (NYSE: DHR) said it would buy the medical firm for $355 million, or $19.50 a share. Before Monday, the 52-week high was $13.92.

Shares of Complete Genomics Inc. (NASDAQ: GNOM) are up 14.61% to $3.06 on trading volume of 3.9 million shares. Chinese firm BGI-Shenzhen is buying the company for $117.6 million, or $3.15 a share. The 52-week…

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Death Valley officially hottest place on Earth

Originally posted on This Just In:

In a year that has seen the United States record its hottest month ever comes word that the country now owns the title of the hottest air temperature recorded on Earth.

The World Meteorological Organization, the weather and climate agency of the United Nations, has recognized Death Valley, California, as the place where the planet has seen its hottest day ever, July 10, 1913, when it reached 134 degrees Fahrenheit (56.7 degrees Celsius).

Death Valley was able to lay claim to the title when the U.N. agency invalidated the previous record, 136.4 degrees F (58 degrees C), that was recorded at El Azizia, Libya, on September 13, 1922.

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Amazon gives devs a maps API alternative to Google

Originally posted on Gigaom:

UPDATED: While Amazon (s amzn) has built its Kindle Fire tablets using a reskinned version of Android (s goog), it has kept its distance from Google’s services. And now it’s further helping its developers do the same.

Amazon has announced a new maps API for its mobile app SDK, giving developers an alternative to using Google Maps for mapping in their apps. With the maps API, developers will be able to integrate interactive maps that switch between map and satellite view and show a user’s present location. They will also be able to insert custom overlays of local data and points of interest. Amazon has also created a simple migration path for developers who are already using Google Maps in their app.

It’s unclear what Amazon is relying on for its new maps API. The company in July acquired 3D mapping startup UpNext. But it’s unlikely that’s what’s powering…

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Oil Aiming at $100 a Barrel

Originally posted on 24/7 Wall St.:

The price for U.S.-traded WTI crude is inching its way back to $100 a barrel today as traders respond to the civil unrest in North Africa and the Middle East following last week’s killing of four Americans in Benghazi, Libya. The American deaths resulted from the posting on the Internet of an anti-Islam video that led to demonstrations in Benghazi and other parts of the Muslim world.

In addition to the anti-U.S. demonstrations, last week’s FOMC announcement is causing the dollar to lose strength, which typically raises the price of crude. The dollar is nearly flat today, but it fell sharply at the end of last week. WTI crude for October delivery is trading at $99.40 a barrel on the Nymex exchange this morning, and the December price has touched $100 a barrel earlier this morning.

Gasoline prices are also higher. According to the AAA Fuel Gauge Report, the national…

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More on Ford After the Mulally Regime (F, GM)

Originally posted on 24/7 Wall St.:

If there is one chief executive who deserves significant accolades in the U.S. auto sector, it is Alan Mulally of Ford Motor Co. (NYSE: F). Now the public is going to have to get used to the notion of a Ford not being run by Mr. Mulally in the not-so-distant future.

Reports have been out that the board is now considering its replacements for the great CEO. The good news for Ford investors is that this may not take place until late in 2013. The bad news is that if you look at the body language that Mulally has telegraphed, and if you look at the comments from the company, a Mulally departure in the relatively near future seems all but certain. Reports last week showed that Ford might even consider keeping Mulally on as a nonexecutive chairman.

Mulally is set to give the opening keynote speech at…

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Sun Devil Wrestling to Host Golf Fundraiser

The Arizona State University Wrestling team will host its third annual “Wrestling With the Devil” golf tournament on Friday, Oct. 5 at the Legacy Golf Resort in Phoenix, Ariz.

Sept. 10, 2012

EVENT INFORMATION

TEMPE — The Arizona State University Wrestling team will host its third annual “Wrestling With the Devil” golf tournament on Friday, Oct. 5 at the Legacy Golf Resort in Phoenix, Ariz.

The event is designed to provide members of the community a chance to come out and interact with members of the Sun Devil wrestling program from the past and the present as well as honor some of the greats. Continue reading

Sun Devil Women’s XC to Compete at Artichoke Invite on Saturday

Events are slated to begin at 7 a.m. at Scottsdale Community College.

Sept. 6, 2012

TEMPE – The 2012 cross country season continues to roll this weekend as the Arizona State University squad sends its women to Scottsdale Community College to compete in the Artichoke Invitational on Saturday, Sept. 8.

The women are coming off a second-place finish at the George Kyte Classic in Flagstaff, Ariz., last weekend and will be running the majority of their “pack” runners in Scottsdale this weekend. Continue reading

Sun Devil Wrestling Names Lee Pritts as Assistant Coach

Pritts is regarded as one of the top recruiters in the nation and brings 14 years of coaching experience to the program.

Sept. 4, 2012

TEMPE — The Arizona State University wrestling program has named fourteen-year coaching veteran Lee Pritts as its newest assistant coach, ASU head coach Shawn Charles announced today.

Considered one of the top recruiters in the country, Pritts joins the Sun Devils after spending the past two seasons in Raleigh with the North Carolina State program.  He will coach alongside Charles and fellow assistant coach Brian Stith for the upcoming 2012-13 season. Continue reading

Funeral Services Announced for Former ASU Wrestler Urbano

The services will take place in Tucson on Sunday, September 9.

Sept. 3, 2012

TEMPE – Funeral services have been announced for former Arizona State NCAA wrestling champion Eddie Urbano.

The services will be held at the Del Angel Funeral Home on Sunday, Sept. 9 in Tucson, Ariz., located at 7 East University Blvd., 85705. Viewing services are scheduled to begin at 11 a.m. with a prayer to follow at 2 p.m. A memorial fund has been set up through Wells Fargo for those wishing to donate towards the funeral services. The information is as follows:

Eddie Urbano Memorial Fund
Wells Fargo Bank
#1459188015 Continue reading

ASU’s Houlihan Wins Cross Country Opener in Flagstaff

Sophomore paces Sun Devil women to runner-up finish, men take third at George Kyte Classic. 

Sept. 1, 2012 

FLAGSTAFF, Ariz. – Shelby Houlihan took home the first cross country victory of her collegiate career and the Arizona State University women took second while the men were third at the George Kyte Classic in Flagstaff, Ariz., on Saturday.

Houlihan looked to be on cruise control on the 5,000-meter course at Buffalo Park as she became just the second Sun Devil in women’s history to win the individual title after Jenna Wrieden did it in 2005.  Houlihan’s final time of 16:52.4 obliterated the Sun Devil record at the event by just under a minute and was among the faster times ever recorded at the course. Continue reading