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Thursday, August 14, 2014

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August 14, 2014
Ferguson's Police Chief Freaked Out After Finding Out His Cops Arrested 2 Reporters Ferguson's Police Chief Freaked Out After Finding Out His Cops Arrested 2 Reporters
by Hunter Walker on Aug 13, 2014, 11:11 PM
The police chief of Ferguson, Missouri, had a...


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Robin Williams had Parkinson's disease, wife says

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Robin Williams had Parkinson's disease, wife says
Robin Williams had Parkinson's disease, wife says

Robin Williams was quietly struggling with the early stages of Parkinson's disease, according to his wife Susan Schneider.

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STOCKS CLIMB: Here's What You Need To Know

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Closing Bell
 

August 14, 2014

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Stocks gained despite GDP data from Europe that came in below expectations, showing that the economic bloc continues to be mired in sluggish economic growth. 

First, the scoreboard:

  • Dow: 16,713.58, +61.8, (+0.4%)
  • S&P 500: 1,955.18, +8.5, (+0.4%)
  • Nasdaq: 4,453.00, +18.9, (+0.4%)

And now, the top stories of the day:

1. The weekly report on jobless claims showed claims climbed 21,000 from last week to 311,000. This was more than the 295,000 that had been expected by economists, and this report brings the four-week moving average of claims up slightly to 295,750. Following the report, TD Securities' Millan Mulraine said, "This sharp rise in the level of initial claims is largely noise and is nothing more than a giveback from the surprising weakness in previous weeks — resulting from the lower than expected level of auto retooling shutdown."

2. Overnight, we got second quarter GDP data from the Eurozone, which showed growth in the economic bloc was flat compared to the first quarter. "The poor figure is chiefly driven by downside surprises in Italy, France, and Germany, which all failed to grow in the second quarter," noted Pantheon Macroeconomics' Claus Vistesen. "On an annualized basis, eurozone growth is now running at a disappointing 0.4% in the first half of this year." Following the report, the yield on the German 10-year bond fell below 1% for the first time in history.

3. Retail giant Wal-Mart reported second quarter earnings that missed expectations on comparable store sales that were flat compared to last year. The company also cut its full-year earnings outlook, saying that, "Our guidance includes incremental investments in e-commerce and headwinds from higher healthcare costs in the U.S. than previously estimated." Following the report, BI's Hayley Peterson highlighted the company's major problem: its Supercenter stores. 

4. Shares of two fast-casual restaurant chains, Red Robin and Noodles & Co., saw shares sell-off sharply after disappointing earnings reports. Red Robin fell more than 18% after reporting adjusted earnings that came in well below expectations, while profit margins were also leaner compared to last year. Noodles lost 16% after earnings and revenue disappointed, as the company, which made its public debut in June of 2013, said it expects comparable-store sales in 2014 to be flat compared to the prior year. 

5. The last two trading days saw stocks rally in what many are calling a "bad news is good news" trade, but in a post that appeared on BI on Thursday, former CEO of PIMCO Mohamed El-Erian wrote that this trend may be coming to an end. "This 'bad news is good news' strategy has worked well given the commitment of central banks to use asset markets as a way of attaining their economic objectives. But there is a limit to how long it can be divorced from the question of the ultimate effectiveness of unconventional policies," El-Erian wrote. "And this issue becomes even more important as the gap between (high) valuations and (sluggish) fundamentals widens."

6. Thursday marks the final day for hedge funds to file their latest 13F filings with the SEC, which give an update on the fund's long-only positions as of June 30. Some of the notable funds reporting their stake during the day on Thursday included Third Point's Dan Loeb, who reported a more than $1 billion stake in auto loan financing company Ally Financial, Leon Cooperman, who reported a new stake of more than 1 million Apple shares, and Chase Coleman's Tiger Global, which sold off its entire stakes in Kate Spade and SodaStream. 

7. Oil prices are continuing to plunge, with August contracts for Brent crude oil trading in London falling to levels not seen since July 1, 2013. This fall in crude comes despite continued unrest in Iraq, though earlier this week, the International Energy Agency said Europe oil demand growth would be flat for the next two years.

Don't Miss: 17 Facts About Warren Buffett And His Wealth That Will Blow Your Mind »

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Grisly Find in Hoarder Home: Mom's Mummified Remains (Newser Happy Hour 6-pack)

Newser Alert
The day's six most popular stories, in time to unwind.


Grisly Find in Hoarder Home: Mom's Mummified Remains

Grisly Find in Hoarder Home: Mom's Mummified Remains

(Newser) - A woman who appears to be a reclusive hoarder in an upscale neighborhood in Gilbert, Ariz., didn't call the cops when her 98-year-old mother died in 2010. Janet Pallone Delatorre says "she 'panicked' and believed police would think Janet killed her based on the condition of the... More  »

 
US: Airstrikes Worked, Iraqi Rescue Not Needed

US: Airstrikes Worked, Iraqi Rescue Not Needed

(Newser) - It looks like the US won't have to launch a mass evacuation of Iraqis trapped on a mountain after all. A small team of American military personnel who spent 24 hours on Mount Sinjar said US airstrikes seem to have done the trick—most of the trapped Yazidis who... More  »

 
Young Couple Arrested After Mother Found in Suitcase

Young Couple Arrested After Mother Found in Suitcase

(Newser) - It's no secret that Heather Mack, the 19-year-old daughter of the late jazz composer James Mack, didn't get along with her mother, Sheila von Wiese-Mack. And now that her mother's body has been found in a bloodied suitcase in Bali, Mack has been arrested along with her... More  »

 
Runaway, 14, Lived in Walmart for 2 Days

Runaway, 14, Lived in Walmart for 2 Days

(Newser) - A 14-year-old boy who was sent to stay with his aunt in Corsicana, Texas, when his parents went out of town found an interesting place to live for a few days. On July 28, the boy, who the family says has a history of running away, was reported missing, and... More  »

 
Robin Williams Had Parkinson's: Wife

Robin Williams Had Parkinson's: Wife

(Newser) - A bombshell from Robin Williams' wife: The actor had been diagnosed with Parkinson's before his death. "Robin’s sobriety was intact and he was brave as he struggled with his own battles of depression, anxiety, as well as early stages of Parkinson’s Disease, which he was not... More  »

 
Only Woman on US Marshals' Most-Wanted List Is Busted

Only Woman on US Marshals' Most-Wanted List Is Busted

(Newser) - Janet Killough Barreto, who apparently adopted multiple kids from Central America in the mid-2000s, was ultimately accused of abusing one of them to death and released on bond, reports the Columbian . But she was a no-show at her 2009 trial to face charges of manslaughter, child abuse and neglect, and... More  »

 

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People Are Raving About This iPhone-Like Android Phone From China's Hottest Smartphone Company

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August 14, 2014
People Are Raving About This iPhone-Like Android Phone From China's Hottest Smartphone Company People Are Raving About This iPhone-Like Android Phone From China's Hottest Smartphone Company

Tech bloggers are already praising Xiaomi's latest flagship, the Mi4, which looks almost like an Android-powered iPhone clone. 
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Here's How The US Should Adapt To The New Age Of Asymmetric Warfare
Here's How The US Should Adapt To The New Age Of Asymmetric Warfare
It doesn't seem all that long since the United States was considering...  Read»
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The Kurds Are The US's Only Way Out Of Its Strategic Dilemmas In Iraq
The Kurds Are The US's Only Way Out Of Its Strategic Dilemmas In Iraq
The Kurdistan Region is one of the only success stories to come out of...  Read»
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The NSA's Surveillance Could Cost Cisco And Other Huge Tech Companies Billions Of Dollars
The NSA's Surveillance Could Cost Cisco And Other Huge Tech Companies Billions Of Dollars
Spying by the National Security Agency and increasing demands by the...  Read»
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This Chart Shows Why Slack Is Called One Of The Most Viral Enterprise Apps Ever
Slack, a business communication app created by Flickr cofounder Stewart...  Read»
6 Simple Apps That Make Saving Money Easy
How's your bank balance? Could be better? You're not alone. Only...  Read»
The 10 Most Important Things In The World Right Now
Hello! Here's what people will be chatting about on Thursday.  1....  Read»
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15 US Companies That German 'Clone Factory' Rocket Internet Copied
15 US Companies That German 'Clone Factory' Rocket Internet Copied
Rocket Internet is one of the most successful — and controversial —...  Read»
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39 Things You Should Do In The US This Summer
39 Things You Should Do In The US This Summer
Summer is more than halfway over, but there's still plenty of time for...  Read»
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The Missouri State Highway Patrol Will Be Brought In To Replace Local Police In Ferguson
The Missouri State Highway Patrol Will Be Brought In To Replace Local Police In Ferguson
Missouri Gov. Jay Nixon (D) has pulled local police in Ferguson off the...  Read»
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Apple Is Upset At Thai Officials For Talking About Two New iPhones That Are Coming
Apple Is Upset At Thai Officials For Talking About Two New iPhones That Are Coming
We reported Wednesday the iPhone 6 may have been approved for sale...  Read»
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See Also
The Latest Sign That Millennials Are Destroying The English Language
The Latest Sign That Millennials Are Destroying The English Language
"Adorbs." "Side boob." "Amazeballs." These represent only a small...
  Read»  
US Officials: Israel Restocked Ammo During Gaza Offensive Without White House Approval
US Officials: Israel Restocked Ammo During Gaza Offensive Without White House Approval
Israel secured supplies of ammunition from the Pentagon last month...
  Read»  
Uber And Lyft Finally Agree About Something
Uber And Lyft Finally Agree About Something
The fight among the ride-sharing services has been heating up lately....
  Read»  
China Is Developing Alarming High-Tech Weapons Systems
China Is Developing Alarming High-Tech Weapons Systems
Over the past month, China has showed how its approach to its own rising...
  Read»  


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