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Monday, July 21, 2014

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July 21, 2014
White House Press Secretary Faces Reporter Revolt After Criticizing Media At Briefing White House Press Secretary Faces Reporter Revolt After Criticizing Media At Briefing
by Colin Campbell on Jul 21, 2014, 3:22 PM
The White House press secretary, Josh Earnest...


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Texas Gov. Rick Perry plans to deploy 1,000 guardsmen to border
Texas Gov. Rick Perry plans to deploy 1,000 guardsmen to border

Gov. Rick Perry said Monday he is deploying up to 1,000 National Guard troops over the next month to the Texas-Mexico border to combat criminals that ...

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STOCKS FALL: Here's What You Need To Know

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Closing Bell
 

July 21, 2014

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Stocks on Wall Street were lower, but finished well off their worst levels as the market recovered nearly all of its early session losses to close slightly lower to start the week.

First, the scoreboard:

  • Dow: 17,051.73, -48.5, (-0.3%)
  • S&P 500: 1,973.63, -4.6, (-0.2%)
  • Nasdaq: 4,424.70, -7.4, (-0.1%)

And now, the top stories of the day:

1) The economic calendar was light, with just the Chicago Fed's National Activity Index coming out this morning. The report showed that economic growth decelerated slightly in June, with the index coming in at +0.12, down from +0.16 in May. The report said, "Two of the four broad categories of indicators that make up the index made nonpositive contributions to the index in June, but two of the four categories increased from May." 

2) The biggest stock story of the day was activist investor Bill Ackman's announcement that his presentation on Herbalife set for tomorrow will be, "the most important presentation" of his career. Ackman is famously short Herbalife, which saw shares fall 11% during today's trading session. And following Ackman's announcement, CNBC personality Jim Cramer said that Ackman is going to "wipe out" Herbalife because "that's his job. When it is your job, that's what you do." This announcement also comes in the wake of Herbalife superimposing Ackman's image on a "Wolf of Wall Street" movie poster calling him the, "Worst of Wall Street." Ackman's presentation starts at 10 am ET, tomorrow. 

3) On the earnings front, Halliburton shares closed roughly unchanged after the oilfield services company reported a 20% rise in quarterly profit. Hasbro shares were down more than 2.5% after the company reported quarterly revenue that missed analysts' expectations. 

4) Allergan, the Botox-maker that Bill Ackman is seeking to take over in conjunction with Valeant Pharmaceuticals, reported second quarter earnings and revenue that beat expectations, while also announcing it would cut 13% of its workforce. Allergan also said it would execute a restructuring plan to save the company approximately $475 million 2015 as it tries to fend off Ackman and Valeant's takeover efforts. 

5) Apple is set to report quarterly earnings after the bell tomorrow, and BI's Jay Yarow highlighted how Wall Street has seemingly fallen back in love with the iPhone maker over the last quarter. Since its Q1 report, Apple shares are up about 26%, and Wall Street is expecting a huge autumn for the company with the company expected to release two new iPhones and an iWatch wearable product. 

6) The Federal Reserve is in a black out period ahead of its July FOMC meeting next week, and Neil Dutta at Renaissance Macro published a note today that outlined just how close the Fed is to its goals. Dutta highlighted how, at the current median projection for payroll gains going forward, the unemployment rate could be closer to 5.7% at the end of this year, though the Fed currently expects the unemployment rate to be 6% to 6.1%. Dutta says this poses the risk that interest rate hikes could come earlier than markets are currently expecting. 

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Reporter: Sorry for Snooping in MH17 Baggage (Newser Happy Hour 6-pack)

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


Reporter: Sorry for Snooping in MH17 Baggage

Reporter: Sorry for Snooping in MH17 Baggage

(Newser) - A set of keys and a toothbrush may seem like innocuous, everyday items, but they become sacred when they belong to the dead. So when Sky News reporter Colin Brazier was caught during a live broadcast yesterday rifling through the personal effects—toothbrush and keys among them—of one of... More  »

 
Patriot Actress Dead at 21

Patriot Actress Dead at 21

(Newser) - The young actress best known for playing Mel Gibson's daughter in The Patriot died at her home in Houston on Saturday, her mother says. Skye McCole Bartusiak was 21. "She was a kind and really beautiful girl," her mother tells CNN , explaining that while no cause of... More  »

 
Hoffman Left His Kids Out of Will

Hoffman Left His Kids Out of Will

(Newser) - Philip Seymour Hoffman left behind a $35 million estate, but not a penny to his three children. The late actor apparently worried that Cooper, 10, Tallulah, 7, and Willa, 5, would be "trust fund" kids, the New York Post reports. Hoffman also stipulated in his will—written before his... More  »

 
6th-Grader's Fish Project Blows Away Scientists

6th-Grader's Fish Project Blows Away Scientists

(Newser) - Sometimes it takes a kid to truly think outside the box. Such is the case of 12-year-old science fair entrant Lauren Arrington, who decided to investigate lionfish, which the Florida native had observed up close while snorkeling and fishing in the ocean. "Scientists were doing plenty of tests on... More  »

 
40 Shot, 4 Killed This Weekend in Chicago

40 Shot, 4 Killed This Weekend in Chicago

(Newser) - On Friday night, 11-year-old Shamiya Adams was prepping s'mores at a sleepover party at her friend's apartment in Chicago when, as the girls were about to put the s'mores in the microwave, a stray bullet flew across a vacant lot, through an open window, then through a... More  »

 
Secret Pelvic Exam Videos Cost Johns Hopkins $190M

Secret Pelvic Exam Videos Cost Johns Hopkins $190M

(Newser) - Lawyers say Johns Hopkins Hospital in Baltimore has agreed to a $190 million settlement with more than 8,000 patients of a gynecologist who secretly photographed and videotaped women's bodies in the examining room. Authorities say Dr. Nikita Levy used a pen-like camera he wore around his neck. He... More  »

 

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Israel May Have Bombed A Sudan Ammunition Warehouse Suspected Of Supplying Hamas

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July 21, 2014
Israel May Have Bombed A Sudan Ammunition Warehouse Suspected Of Supplying Hamas Israel May Have Bombed A Sudan Ammunition Warehouse Suspected Of Supplying Hamas

A large explosion in a Sudanese ammunition warehouse last Friday was the...
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These New Technologies Are Making Smartphones Less Cluttered, More Personalized, And Better At Completing Tasks
These New Technologies Are Making Smartphones Less Cluttered, More Personalized, And Better At Completing Tasks
There were more personalization app sessions in the first quarter of 2014 than in all of 2013.  Read»
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Scientists Finally Got A Close Up View Of That Mysterious Siberian Crater — Here's What They Found
Scientists Finally Got A Close Up View Of That Mysterious Siberian Crater — Here's What They Found
When a helicopter discovered a mysterious giant crater on the Yamal...  Read»
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Russia's Military Tells A Very Different Story About What Happened To MH17
Russia's Military Tells A Very Different Story About What Happened To MH17
Russia is taking a different line than most of the world regarding the...  Read»
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17 Crazy Facts That Sound Fake But Are Actually True
Some of facts of history, science, geography, and math are so crazy that...  Read»
Here's What It Looks Like When Hamas Gunmen Infiltrate Israel Through Tunnels
Intense fighting on both sides of the Gaza border continued Monday...  Read»
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Boating just became much more accessible thanks to Oru Kayak, a...  Read»
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A London Studio Flat Is So Small You Have To Climb A Ladder On The Fridge To Get To Bed
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A studio flat up for rent in north London is the tiniest apartment the...  Read»
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Ron Paul Defends Russia After Malaysian Plane Crash
Ron Paul Defends Russia After Malaysian Plane Crash
Former Congressman Ron Paul defended the Russian government on Sunday...  Read»
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This Gadget Can Hijack Any Google Chromecast, And It's Actually A Pretty Serious Issue
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Living room trolls, rejoice. Dan Petro, a security analyst for the...  Read»
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Goldman Sachs Managing Director Dies After East Hampton Kite Surfing Accident
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Goldman Sachs Managing Director Nicholas Valtz was found dead at 2 p.m....  Read»
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See Also
White House Press Secretary Faces Reporter Revolt After Criticizing Media At Briefing
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