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Tuesday, August 19, 2014

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August 19, 2014
Police Captain Blames 'A Lot' Of The Press For 'Glamorizing' Ferguson Protests Police Captain Blames 'A Lot' Of The Press For 'Glamorizing' Ferguson Protests
by Colin Campbell on Aug 19, 2014, 10:24 AM
The police leader with authority over the...


A Blast From The Glorious Past When The Media Was Always Accurate And No One Cared About Ratings Or Circulation... A Blast From The Glorious Past When The Media Was Always Accurate And No One Cared About Ratings Or Circulation...
by Henry Blodget on Aug 19, 2014, 11:44 AM
I don't have time to read many books anymore...


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Navy: Java Sea Wreck Is Grave of 700 (Newser Happy Hour 6-pack)

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


Navy: Java Sea Wreck Is Grave of 700

Navy: Java Sea Wreck Is Grave of 700

(Newser) - More than 70 years after the heavy cruiser nicknamed the "Galloping Ghost of the Java Coast" was sunk by the Japanese, divers have confirmed that they have found its wreck. The USS Houston was found in the Java Sea; officials say there is oil seeping from the hull and... More  »

 
Why Birds Are Igniting in Midair Over California

Why Birds Are Igniting in Midair Over California

(Newser) - A cutting-edge solar technology in California's Mojave Desert may have a bit too much cut. Wildlife officials say they've counted one bird being scorched to death every two minutes by intensely focused rays of light at the BrightSource Energy plant, considered the largest solar thermal power plant of... More  »

 
Holocaust Survivor Arrested in Ferguson Protest

Holocaust Survivor Arrested in Ferguson Protest

(Newser) - No peace in weary Ferguson: At least two people were shot and 31 arrested during late-night protests, according to police, who say no officers were involved in the shootings and some of those arrested came from as far away as New York and California. Missouri Highway Patrol Capt. Ron Johnson... More  »

 
Climber Killed in Fall Hours After Proposing

Climber Killed in Fall Hours After Proposing

(Newser) - Veteran rock climber Brad Parker summited Cathedral Peak in Yosemite National Park with girlfriend Jainee Dial on Saturday, and then proposed. "This is the happiest day of my life," he told her when she accepted, according to his father. Then the couple parted ways, and tragedy struck. Parker,... More  »

 
Boy, 7, Mistaken for Intruder, Shot by Grandma

Boy, 7, Mistaken for Intruder, Shot by Grandma

(Newser) - A Tampa grandmother allegedly fired a .22 caliber pistol into the dark this morning, shooting not the intruder she feared but her 7-year-old grandson, the Tampa Bay Times reports. The boy, Tyler Maddox, is now in critical but stable condition in the hospital. Hillsborough County deputies say Linda Maddox, 63,... More  »

 
Feds: Slaughterhouse Swapped Heads to Fool Inspectors

Feds: Slaughterhouse Swapped Heads to Fool Inspectors

(Newser) - Workers at the Rancho Feeding Corp. were up to something pretty stomach-churning while inspectors were on their lunch break, according to a federal indictment: They slaughtered cows with eye cancer, hid the heads in gut bins, and placed the heads of healthy cows next to the carcasses. The co-owners and... More  »

 

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STOCKS RALLY: Here's What You Need To Know

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Closing Bell
 

August 19, 2014

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Stocks rallied for the second straight day as housing data on Tuesday morning came in better than expected while inflation data was in-line with expectations.

First, the scoreboard:

  • Dow: 16,919.59, +80.8, (+0.5%)
  • S&P 500: 1,981.60, +9.9, (+0.5%)
  • Nasdaq: 4,527.51, +19.2, (+0.4%)

And now, the top stories on Tuesday:

1. The pace of housing starts rose 15.7% to an annualized pace of 1.093 million units in July, beating expectations for a pace of 965,000. Permits increased 8.1% to a rate of 1.052 million, which was in-line with expectations. Ian Shepherdson at Pantheon Macroeconomics had a mixed read on the report. "In one line: Startling headline gains but underlying trend in core single-family is much less exciting," Shepherdson said. "In the single-family sector activity has returned to its pre-winter level but permits are starting to level off again. With the stock of homes for sale well above its cycle lows, price gains slowing and new home sales flat, it is hard to see why construction would keep rising." 

2. The latest consumer price index, or CPI, report from the BLS showed that "core" inflation, which strips out food and gas, rose just 0.1% month-over-month in July, slower than the 0.2% that was expected by economists. Headline CPI, which includes food and fas, rose just 0.1% month-over-month, the slowest increase for the headline index since February. On a year-over-year basis, core CPI was up 2% and the headline reading was up 1.9%, with both readings in-line with expectations. Following the report, Paul Dales at Capital Economics said, "The recent softening in U.S. core prices eases some of the pressure on the Fed to start considering rate hikes, although in our view only temporarily."

3. Home improvement giant Home Depot was the biggest gainer on the Dow Jones Industrial Average, gaining 5.5% after reporting same-store sales that grew 5.8% in the second quarter. Home Depot also earned $1.52 per share in the quarter, topping expectations for earnings of $1.44. Home Depot's gain was also good for the second largest percentage gain on the S&P 500. 

4. Fragrance maker Elizabeth Arden saw shares get absolutely crush, falling more than 23% after reporting quarterly sales that widely missed expectations. Arden said its sales were impacted by a steeper than expected decline in sales of its celebrity fragrances, including its Justin Bieber and Taylor Swift fragrances. Sales in the quarter also fell 28.4% from the same period a year ago, more than the 10% decline expected by analysts. Arden also said that in the current quarter it expects to be challenged by the same factors that affected recent quarters.

5. Shares of chicken chain El Pollo Loco fell nearly 10% after analysts at Morgan Stanley initiated coverage of the stock with an "Underweight" rating and a $22 price target, saying the newly-public stock has gotten ahead of itself. "The market appears to be paying a premium ... far above what we consider to be fair value — and well above any reasonable peer comparable," wrote analysts John Glass and Jake Bartlett. Glass and Bartlett outlined three cases for how the shares could trade from here: "Pollo en Fuego," "Pollo Bueno," and "Pollo Muertos."

6. Shares of Dick's Sporting Goods were up more than 1% after reporting earnings that beat expectations, though the sporting good retailer said it would take a $20.4 million charge in the second quarter related to its golf business. "We have consolidated our Golf Galaxy merchandising, marketing, and store operations into Dick's Sporting Goods," Dick's CEO Edward Stack said. "In addition, we have eliminated specific staff in our golf area within our Dick's Sporting Goods stores. These changes are necessitated by the current and expected trends in golf." 

7. Jeff Saut at Raymond James outlined in a note to clients the "easy" strategy traders are using right now to make money: When stocks go down, buy the dip

Don't Miss: Some Of The World's Brightest Minds Are Meeting This Week To Solve A Huge Puzzle In Economics »

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Lyft's COO Has Left The Company

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August 19, 2014
Lyft's COO Has Left The Company Lyft's COO Has Left The Company

Lyft COO Travis VanderZanden is out at the company, according to...
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This 19-Year-Old Lost $46,000 Because Google Says He Didn't Follow Their Rules
This 19-Year-Old Lost $46,000 Because Google Says He Didn't Follow Their Rules
He is banned from Google until further notice.  Read»
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Gitmo Spent $300,000 On Liquid Supplements While Denying A 'Mass Hunger Strike'
Gitmo Spent $300,000 On Liquid Supplements While Denying A 'Mass Hunger Strike'
Hunger-striking Guantanamo detainees apparently prefer to be...  Read»
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Here's Why Coke Life And Pepsi NEXT Will Never Take Off In The US
Here's Why Coke Life And Pepsi NEXT Will Never Take Off In The US
For consumers who think that regular soda has too many calories and diet...  Read»
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6 Strange Body Hacks That Are Actually Useful
The human body has the potential for amazing feats, but it also has...  Read»
Here's How Much Aid Money The US Wants To Send Countries Around The World
The United States gives a lot of money to the world. How do...  Read»
Boys Learn More About Money Than Girls
Research has repeatedly shown that women manage a good deal of the money...  Read»
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Google Apologizes To Bakery For Showing Logo That Called Its Customers 'Scum'
Google Apologizes To Bakery For Showing Logo That Called Its Customers 'Scum'
Google has come under fire after the second search result blunder in a week.  Read»
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Hamas Attacks Tel Aviv As Ceasefire Hopes Fade
Hamas Attacks Tel Aviv As Ceasefire Hopes Fade
The conflict between Israel and Hamas is at its most dangerous moment...  Read»
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Sony Has A New Feature Coming For The PS4 That Will Bury The Xbox One
Sony Has A New Feature Coming For The PS4 That Will Bury The Xbox One
Amid all the exciting announcements coming out of last week's Gamescom...  Read»
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This Map Explains Why The War In Gaza Is Unlikely To Restart Anytime Soon
This Map Explains Why The War In Gaza Is Unlikely To Restart Anytime Soon
Hostilities between Israel and Hamas could be gearing up again. Rocket...  Read»
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See Also
The 10 Most Important Things In The World Right Now
The 10 Most Important Things In The World Right Now
Rise and shine! Here's what people will be talking on Tuesday.  1....
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Banks Are Planning A Massive Double Exit From The UK If It Votes To Leave The EU
Banks Are Planning A Massive Double Exit From The UK If It Votes To Leave The EU
Bank of America Merrill Lynch, Citigroup and Morgan Stanley are all eyeing a move to Ireland.
  Read»  
Leaked: Details Of Google's Attempt To Get You To Pay For YouTube
Leaked: Details Of Google's Attempt To Get You To Pay For YouTube
After months of delays, it seems that YouTube's music subscription is finally ready to launch.
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Create And Customize Your Own Emojis With 'Makemoji' For iPhone
Create And Customize Your Own Emojis With 'Makemoji' For iPhone
Emojis have invaded modern messaging, and now you can create your own...
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