ATLANTA–(BUSINESS WIRE)–The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations of the deadline to submit disaster loan applications for physical damage caused by a tornado and severe storms that occurred on October 9, 2009 in Kentucky. The deadline to file an application for physical damage is December 28, 2009 . Homeowners, renters, non-profit organizations and businesses of all sizes in Casey County and the adjacent counties of Adair, Boyle, Lincoln, Marion, Pulaski, Russell and Taylor in Kentucky are eligible to apply for physical disaster assistance. The SBA offers loans up to $200,000 to repair disaster damaged primary residences. Homeowners and renters are eligible for loans up to $40,000 to replace personal property such as furniture, appliances and clothing. Loans to businesses and non-profit organizations of all sizes are available up to $2 million to repair or replace damage to real estate, machinery, inventory and equipment. SBA Economic Injury Disaster Loans (EIDLs) are available to small businesses and most private non-profit organizations of all sizes to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. Interest rates are as low as 2.750 percent for homeowners and renters and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition. The SBA also offers mitigation funds to disaster victims up to 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures which may prevent damages of the same kind in the future. To obtain program information or a loan application, call the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. until 9 p.m. EST or by sending an e-mail to disastercustomerservice@sba.gov . Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/services/disaster assistance . Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. Those affected by the disaster may apply for disaster loans from SBA’s secure Web site at https://disasterloan.sba.gov/ela/ . The filing deadline to return applications for physical damage is December 28, 2009 . The deadline to return economic injury applications is July 29, 2010 . For more information about the SBA’s Disaster Loan Programs, visit our Web site at www.sba.gov/services/disasterassistance . Release Number: 10-092, KY 11922/11923 Original post: SBA’s Disaster Assistance Deadline for Physical Damage Is December 28 (Business Wire)

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KANSAS CITY, Mo. (AP) — Sprint Nextel Corp. on Tuesday said it had completed its $483 million acquisition of Virgin Mobile USA, boosting its presence in the market for customers who pay for cell phone service month-to-month. AP – FILE – In this Monday, Oct. 26, 2009 file photo, a sign hangs outside a Sprint store in … {”s” : “leap,pcs,s”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Virgin Mobile shareholders earlier Tuesday voted in favor of the acquisition, which was announced in July and pays them $5.50 in Sprint stock for each Virgin Mobile share. The deal also includes retiring Virgin Mobile’s debt. Sprint Nextel already owned 13.1 percent of Virgin Mobile, which uses Sprint’s network to offer service and has 5.2 million subscribers. Like other so-called “prepaid” vendors, Virgin Mobile primarily appeals to customers who lack the credit or income to qualify for long-term contracts or simply want a bargain over contract-based plans. The market for these customers has expanded as the economy has forced more traditional wireless customers to search for cheaper plans. Sprint, which is based in Overland Park, Kan., ignited a mini-price war in January when it introduced a $50-per-month prepaid unlimited plan under its Boost Mobile brand. It’s unclear how Virgin and Boost will coexist under Sprint, although they have been geared toward different markets — Virgin aimed at teens and 20-somethings while Boost is considered a value brand. The company said customers of both brands won’t see any immediate changes. Other competitors in the prepaid space include No. 4 carrier T-Mobile USA and smaller upstarts like MetroPCS Communications Inc. and Leap Wireless International Inc., which sells under the Cricket brand. Prepaid carriers are expected to have the most growth potential as most people who want wireless service in the U.S. and are eligible for a contracts have a phone already. Virgin Mobile shareholders, which include British billionaire Richard Branson’s Virgin Group and South Korean carrier SK Telecom, will own about 3 percent of Sprint. Sprint shares were down 12 cents, or 3 percent, to $3.78 in afternoon trading Tuesday. See the original post here: Sprint completes purchase of Virgin Mobile USA (AP)

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NEW YORK (AP) — Embattled bond insurer Ambac Financial Group Inc. announced Tuesday the resignation of its chief financial officer. The company, based in New York, said Sean Leonard left “to pursue other interests.” The resignation is effective immediately. The departure comes just weeks after Ambac said it may be forced to file for bankruptcy protection. In a filing with the Securities and Exchange Commission Nov. 9, the company said it believes it has enough liquidity to get through the second quarter of 2011, but warned it could run out of money sooner. Ambac for years had backed municipal bonds that rarely defaulted and paid steady dividends. In recent years, however, the company invested in complex new bonds that were comprised of risky mortgages amid the housing bubble. The new bonds were an opportunity for Ambac to generate outsize returns. But as the housing bubble burst and mortgage defaults spiked, the likelihood of issuer default and claims on bond insurance rose. In the filing with the SEC earlier this month, Ambac said it may not be able to generate enough cash to pay operating expenses and debt obligations over the long term. Given the tight credit markets, the company said it also may not be able to access alternate sources of capital. “No assurances can be given that Ambac will be successful in executing any or all of its strategies,” the company said in the filing. Ambac Financial is considering a restructuring of its debt through a prepackaged bankruptcy proceeding. But if it can’t bolster its capital position, the company said it may file for bankruptcy without a lender agreement in place. Leonard joined Ambac in 2005, according to the company. Those who worked under Leonard will report to CEO David Wallis until a replacement is found, Ambac said. An Ambac representative did not immediately return a call for further comment. Shares of Ambac fell 9 cents, or 10 percent, to 81 cents in afternoon trading. In the past year, shares have traded between 35 cents and $2.09. In November of last year, shares were as high as $3.40. More: Ambac Chief Financial Officer Sean Leonard resigns (AP)

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SAN FRANCISCO (AP) — U.S. senators are pressuring European antitrust regulators to hurry their investigation of Oracle Corp.’s proposed acquisition of Sun Microsystems Inc., citing Sun’s “precarious” financial condition and fears about more layoffs at the struggling computing company. A group of 59 senators outlined the concerns in a letter Tuesday to the European Commission, which has held up the $7.4 billion deal over worries that Oracle would be too dominant in the market for database software. Oracle is the leader in proprietary database software — which means its underlying code is kept private — while Sun’s MySQL division makes the No. 1 open-source database. Companies use database software to manage large stockpiles of information, such as their payroll or customer data. The Oracle-Sun combination would be one of the biggest technology deals of the year, and was cleared in August by the U.S. Department of Justice. This month, though, the European Commission notified the Silicon Valley companies of its formal objection to the deal. Oracle and Sun are appealing that ruling before the EU’s preliminary ruling has a chance to become final. EU regulators have until Jan. 27 to wrap up that review. Sen. John Kerry, D-Mass., the lead author of Tuesday’s letter, said a further delay in the review “threatens thousands of American jobs, so we felt compelled to ask for a speedy resolution.” “Sun Microsystems’ financial position has become more precarious and the commission’s inquiry has continued,” the letter read. “Some have raised concerns over the company’s ability to continue to employ its thousands of workers. Accordingly, we respectfully request the European Commission complete its investigation of this transaction as quickly as possible.” Both companies had hoped the deal would close this summer. Since it hasn’t, Sun rivals such as IBM Corp. and Hewlett-Packard Co. have been playing up uncertainty about the deal to steal business from Sun. Sun has lost $677 million over the last four quarters. It also said last month it would be cutting up to 3,000 jobs, or 10 percent of its worldwide work force, as it awaits a decision on the fate of the deal. Because of fears that the deal won’t get completed, Sun’s stock is trading for much less than the $9.50 per share that Oracle would pay to acquire the company. The stock fell 4 cents, or 0.5 percent, to $8.50 on Tuesday afternoon. Continue reading here: Senators press EU to speed its Oracle-Sun probe (AP)

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PARIS (AP) — France’s Vivendi SA said Tuesday it has issued euro1.2 billion ($1.8 billion) in bonds. The Paris-based media and entertainment giant said the two-part bond issue aims to “increase the average maturity of the debt … and to maintain a good balance between bonds and credit lines.” Vivendi is currently the focus of intense interest because a deal between U.S. media giants Comcast Corp. and NBC Universal to create one of the world’s largest media companies hinges on what the French group decides to do with its 20 percent stake in NBC Universal. Vivendi has an option until Dec. 10 to dispose of its stake in NBC Universal. Majority owner General Electric Co. is expected to buy it and then sell a 51 percent stake of the entire NBC Universal unit to Comcast, which serves about a quarter of the nation’s subscription TV households. Here is the original post: Vivendi issues euro1.2 billion in bonds (AP)

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HARTFORD, Conn. (AP) — The oil and gas subsidiary of General Electric Co. said Tuesday it is operating the first gravity-based offshore liquefied natural gas terminal that is expected to save time in the construction of an LNG project off Italy’s northeast coast in the Adriatic Sea. GE Oil and Gas has installed the artificial island gravity-based structure, which is owned and operated by Adriatic LNG. The project includes a reinforced concrete box on the sea floor and houses two LNG storage tanks. It’s 1,230 feet long by 377 feet wide. Tony Mercer, project manager for Aker Kvaerner Contracting International, Adriatic LNG’s primary contractor, said the GE Oil and Gas project will help save time in construction and commissioning of the LNG project. The Adriatic LNG terminal will significantly increase Italy’s regasification capacity, is larger than two soccer fields and reaches as high as a 10-story building. It has two LNG tanks with a combined annual capacity of 8 billion cubic meters, or about 10 percent of Italy’s annual gas demand. The Adriatic LNG terminal receives shipments from Qatar, Egypt and Trinidad twice a week. The LNG is regasified at the terminal and dispatched to Italy’s gas network. Shares of GE, based in Fairfield, Conn., rose 13 cents, to $16.15 in afternoon trading. See the rest here: GE Oil & Gas installs LNG terminal in Adriatic (AP)

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ALBANY, N.Y. (AP) — New York’s top court ruled Tuesday that the state can use eminent domain to force homeowners and businesses to sell their properties for a massive development in Brooklyn that includes a new arena for the New Jersey Nets. In a 6-1 ruling Tuesday, the Court of Appeals said the Empire State Development Corp.’s finding that the area was blighted was enough to justify taking the land. A group of tenants and owners claim the seizure is unconstitutional. They argue that developer Bruce Ratner’s proposed $4.9 billion, 22-acre Atlantic Yards project mainly enriches private interests, while the state constitution requires public use for taking land. “The constitution accords government broad power to take and clear substandard and insanitary areas for redevelopment,” Chief Judge Jonathan Lippman wrote for the majority. “In so doing, it commensurately deprives the judiciary of grounds to interfere with the exercise.” Ratner’s proposed development includes office towers, apartments and a new arena for the NBA’s Nets. A key element in his plan is selling majority team ownership to Russian entrepreneur Mikhail Prokhorov. In a prepared statement, Ratner said construction will continue, with the intent that the Nets will play ball there in the 2011-2012 season. “Once again the courts have made it clear that this project represents a significant public benefit for the people of Brooklyn and the entire city,” Ratner said. “Our commitment to the entire project is as strong today as when we started six years ago.” The attorney for homeowners and tenants who declined to sell after the project was announced in 2003 said the fight isn’t over. Matthew Brinckerhoff said his clients will oppose the ESDC when the urban development agency goes to court in Brooklyn in the second step of the process to take the properties. “They have won round one, and we still have round two to go,” Brinckerhoff said. “I think everybody believes that they need to do a number of things by the end of the year, and where exactly this fits into that process I’m not sure. But the fact that they haven’t yet taken the properties can’t be helping them.” Calls to the ESDC were not immediately returned Tuesday. Lippman noted that the law empowering the government in the 1930s to partner with private entities to deal with the emerging problem of slums was intended also to create replacement low-cost housing. This plan instead is aimed at “alleviating relatively mild conditions of urban blight,” mainly a railyard, and there were only 146 people living within the project boundaries when the final environmental study was done, he wrote. In a dissent, Judge Robert Smith said the court majority was “much too deferential to the self-serving determination by the ESDC that petitioners live in a ‘blighted’ area, and are accordingly subject to having their homes seized and turned over to a private developer.” The record does not support the state agency’s finding, Smith said. While the blight is documented at northern end of the project site, the southern part “appears … to be a normal and pleasant residential community,” he said. Read the original: Court: NY can seize property for new NJ Nets arena (AP)

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Oil prices fell below $76 a barrel Tuesday with new data showing a slow U.S. economic recovery and consumer confidence that remains luke warm at best. The dollar also gained against other major currencies, which can keep energy prices in check. Benchmark crude for December delivery fell $1.41 to $76.15 a barrel on the New York Mercantile Exchange. The Commerce Department said the economy grew at a rate of 2.8 percent between July and September, short of estimates for 3.5 percent growth released just a month ago. Consumers are not spending much, commercial construction was weak, businesses trimmed inventories. The lack of consumer spending was partly explained in another report released Tuesday. Americans’ confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the holiday shopping season, according to the monthly survey released by the Conference Board. The lack of industrial and consumer activity has played out in weekly oil inventory reports from the Energy Department, with supplies of crude in storage growing. The next weekly report arrives Wednesday, and expectations are that crude and gasoline supplies grew again last week. Retail prices edged lower again, falling less than a penny to $2.638 per gallon Tuesday. That’s a lot more than last year at this time, when gasoline prices plunged to about $1.91 as the economic crisis unfolded. Still, gasoline prices are being supported by crude, which as traded between $76 and $82 for more than a month. That is largely being blamed on the dollar because oil is bought and sold in the U.S. currency. Investors holding euros or other currencies can buy more oil when the dollar falls. Crude prices rose Monday when the dollar fell. On Tuesday, the dollar gained against the euro, yen, and British pound. Oil prices fell as much as 2 percent. In other Nymex trading, heating oil fell about 3 cents to $1.9502 a gallon. Gasoline for December delivery dropped 2.78 cents to $1.9516 a gallon. Natural gas for December delivery fell 7.2 cents to $4.40 per 1,000 cubic feet. In London, Brent crude for January delivery dropped 92 cents to $76.54 on the ICE Futures exchange. Associated Press Writers Alex Kennedy in Singapore, Barry Hatton in Lisbon, Portugal, and Jeannine Aversa in Washington contributed to this report. Read the r est here: Crude prices near $76 per barrel (AP)

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NEW YORK (AP) — Americans’ confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the traditional start of the holiday shopping season amid a weak job market, according to a monthly survey. AP – In this photo made Thursday, Oct. 15, 2009, Antionette Harris shops at a Target store in Philadelphia. Americans’ … The Conference Board, based in New York, said Tuesday that its Consumer Confidence Index edged up to 49.5, up from a revised reading of 48.7 in October. Economists surveyed by Thomson Reuters expected a reading of 47.7. The index, which hit a historic low of 25.3 in February, had enjoyed a three-month climb from March through May, fueled by signs that the economy might be stabilizing. The road has been bumpier since June as rising unemployment has taken a toll on consumers. A reading above 90 means the economy is on solid footing. Above 100 signals strong growth. One component of the Conference Board’s confidence gauge that measures consumers’ assessment of the current economy fell slightly to 21.0, compared with 21.1 in October. The other that measures shoppers’ outlook over the next six months increased slightly to 68.5 from 67.0 in October. “Income expectations remain very pessimistic and consumers are entering the holiday season in a very frugal mood,” said Lynn Franco, director of The Conference Board Consumer Research Center in a statement. Economists watch consumer sentiment because spending on goods and services for consumers accounts for about 70 percent of U.S. economic activity by federal measures. While the reading doesn’t always predict short-term spending, it does serve as a barometer of spending levels over time, especially for big-ticket items. Retail sales showed some signs of life in September and October, with major merchants collectively posting two consecutive monthly gains in sales in more than a year, according to the International Council of Shopping Centers-Goldman Sachs Index. That followed more than a year of declines as shoppers shut their wallets tight. But business still remains weak and shoppers are still focused on necessities like socks, coats and underwear. Experts say depressed spending is likely to persist for several years amid stubbornly high unemployment. The unemployment rate is now at 10.2 percent, the highest in 26 years, and 15.7 million Americans out of work. Meanwhile, the housing market has showed signs of improvement, but overall the sector is still tepid. A housing report announced Tuesday showed home prices improved for the fourth straight month in September, though only in 11 out of 20 major metropolitan areas. The Standard & Poor’s/Case-Shiller home price index, which tracks prices in 20 major metropolitan markets, rose 0.3 percent in September. The Conference Board’s confidence survey, which is based on a representative sample of 5,000 U.S households, showed that shoppers’ assessement of the job market remains weak. The cutoff for the preliminary results wsa Nov. 17. Those claiming jobs are “hard to get” increased to 49.8 percent from 49.4 percent, while those claiming jobs are “plentiful” decreased to 3.2 percent from 3.5 percent. Consumers’ short-term outlook improved slightly in November, but that’s because those expecting conditions to worsen decreased to 15.1 percent from 18.2 percent, Franco said. The percentage of consumers expecting an improvement in business conditions over the next six months decreased slightly to 20.0 percent from 20.8 percent. Those anticipating more jobs in the months ahead declined to 15.2 percent from 16.8 percent. But those expecting fewer jobs declined to 23.1 perent from 26.1 percent. The proportion of consumers expecting an increase in their incomes decreased to 10.0 percent from 10.7 percent. Read the r est here: Consumer confidence improves slightly in November (AP)

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CALGARY, Alberta, Nov. 24, 2009 (GLOBE NEWSWIRE) — Emerging Stock Report, a leading provider of sector specific independent investment research, today initiated coverage on NexMed, Inc. (Nasdaq: NEXM – News ). Emerging Stock Report is currently offering a complimentary trial subscription to the investment community. To view the Report in its entirety visit: http://www.emergingstockreport.com To get our alerts AHEAD of the market follow us on Twitter: http://twitter.com/EmergingStockRe About ESR: Emerging Stock Report is a leading provider of independent investment research for North American companies. Our services include research analysis on emerging growth companies, sector specific research, real-time news and financial data, market commentary and the ESR newsletter. Emerging Stock Report’s staff of investment professionals are dedicated to providing the the tools and resources necessary to help make important investment decisions. To view our research reports on a complimentary trial basis and take advantage of our other services, visit http://www.emergingstockreport.com and click on the complimentary trial subscription button on our home page, or go directly to our registration page at http://emergingstockreport.com/register.php About NexMed, Inc.: NexMed’s pipeline includes a late stage terbinafine treatment for onychomycosis, a late stage alprostadil treatment for erectile dysfunction, a Phase 2 alprostadil treatment for female sexual arousal disorder, and an early stage treatment for psoriasis. For further information, go to www.nexmed.com . ESR Disclosure: Emerging Stock Report is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Emerging Stock Report has not been compensated by any of the above mentioned companies. Please read our report and visit our Web site, http://www.EmergingStockReport.com , for complete risks and disclosures. Follow this link: Emerging Stock Report Initiates Independent Research Coverage on NexMed, Inc. (GlobeNewswire)

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TEMPE, Ariz. (AP) — US Airways said Tuesday it will delay delivery of 54 Airbus jets until at least 2013 as it tries to bolster its financial strength. AP – FILE – In this Oct. 26, 2009 file photo, a US Airways plane takes off from Miami International … {”s” : “lcc”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The company said delaying the deliveries will reduce its aircraft capital expenditures over the next three years by $2.5 billion. US Airways instead will take delivery of 28 planes over the next three years, which it called a more manageable pace during an airline industry slump. The carrier has financing in place for those 28 planes, including commitments for $275 million in loans for aircraft it will receive next year. CEO Doug Parker said in a message to employees that the moves will boost the company’s available cash by about $150 million this year and $450 million by the end of 2010. Airline traffic has been weak this year, and several major U.S. carriers have raised cash to get through the slow fall and winter seasons. US Airways, based in Tempe, Ariz., was scheduled to add the Airbus jets over the next three years to replace older jets in the airline’s fleet. Parker said the deferrals will let the company “maintain flexibility in a challenging economic environment.” He said the company would keep its older jets until the new delivery dates, so the move won’t significantly affect the airline’s passenger-carrying capacity. The company also said that Barclays, which provides US Airways’ affinity credit card, eased financial terms of their agreement and will delay repayment of a $200 million advance for 14 months. Barclays advanced the money when it bought frequent-flier miles from the carrier. US Airways lost $125 million in the first nine months of this year on lower revenue, after losing $2.1 billion last year. “The past two years have been exceptionally difficult for our industry and US Airways,” Parker told employees. He said the company was fortunate to have partners willing to help, but “we cannot continue to lose money indefinitely and fund our losses through financing and partner support.” Shares of US Airways rose 8 cents, or 2.6 percent, to $3.18 in morning trading. See the article here: US Airways defers delivery of 54 aircraft (AP)

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WASHINGTON (AP) — The apparent end of the recession and stabilizing financial markets have not cured the banking industry, the Federal Deposit Insurance Corp. said Tuesday. Banks earned $2.8 billion in the third quarter, but loan balances plummeted and the fund that insures their deposits was $8.2 billion in the red. Souring loans continued to hurt bank balance sheets, but they were buoyed by higher operating revenues and a revived market for securities, the FDIC said. The number of banks on the FDIC’s “problem list” rose to 552 from 416 on June 30, the highest level in 16 years. Fifty banks failed during the quarter — the largest number since the second quarter of 1990. The FDIC’s fund that insures bank deposits fell by $18.6 billion, mostly because $21.7 billion was set aside for expected losses on future bank failures. The FDIC voted this month to require banks to prepay three years of deposit insurance premiums at the end of the year to help replenish the dwindling fund, which is at its lowest point on record. The last similar deficit was in Dec. 1991, when a predecessor fund was more than $7 billion in the red. Bank failures this year through 2013 are expected to cost the fund $100 billion — mostly in 2009 and 2010. But depositors’ money — insured up to $250,000 per account — is not at risk, with the FDIC backed by the government. Bank profits returned in the third quarter after a $4.3 billion loss in the previous quarter and $879 million in earnings last year. “While bank and thrift earnings have improved, the effects of the recession continue to be reflected in their financial performance,” FDIC Chairman Sheila Bair said. A 2.8 percent drop-off in loans outstanding — the largest percentage decline on record — showed that credit for consumers and businesses remained tight, she said. “There is no question that credit availability is an important issue for the economic recovery,” Bair said. “We need to see banks making more loans to their business customers,” especially small businesses. Read the original: Banks earn $2.8B in 3Q; insurance fund in the red (AP)

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NEW YORK (AP) — Medtronic reported a surprising 59 percent boost in second-quarter profit Tuesday, as increased sales of implantable heart devices defied reports of weakening demand from competitors. AP – FILE – In this Aug. 16, 2005, the “Rising Man” symbol stands in front of the Fridley, Minn., … {”s” : “bsx,mdt,stj”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The sales gains during the quarter prompted the world’s largest medical device maker to boost its full-year guidance, sending its shares up more than 7 percent in morning trading. The Minneapolis company earned $868 million, or 78 cents per share, in the quarter ended Oct. 30, up from $547 million, or 48 cents per share, a year ago. Excluding a litigation gain and other items, adjusted income totaled $850 million, or 77 cents per share. Revenue jumped 8 percent to $3.84 billion from $3.57 billion. Analysts expected profit of 74 cents per share on revenue of $3.75 billion, according to a survey by Thomson Reuters. It was the second consecutive quarter in which the company beat Wall Street expectations. “Sales outperformance could suggest market share stabilization after several consecutive quarters of erosion in these business,” Leerink Swann analyst Rick Wise wrote in a note to investors. Sales growth for the company’s cardiac-pacing division, its largest, have been sluggish following safety concerns and reduced spending by hospitals. Analysts largely expected another quarter of slow sales after rivals St. Jude Medical and Boston Scientific Corp. reported weakening demand for heart implants earlier this fall. But Medtronic reported a 3 percent rise in sales of heart devices to $1.28 billion, including $754 million in sales of implantable cardioverter defibrillators, the company’s best-selling products. Defibrillators use electrical shocks to correct abnormal heart beats that could be deadly. Sales of pacemaker products, which use low-voltage electrical currents to keep hearts beating, were $498 million. Wise said the company’s results suggest device sales were impacted by a summer slowdown, but that overall demand remains strong. Robust stent sales helped the company’s cardiovascular revenue grow 17 percent to $696 million. Stents are tiny mesh-metal tubes used to prop open arteries after they have been cleared of fatty plaque. Meanwhile, spinal revenue rose 4 percent to $862 million, and sales in the neuromodulation unit rose 12 percent to $384 million. Neuromodulation implants are designed to treat pain and other conditions through by stimulating the nervous system. Diabetes revenue rose 10 percent to $300 million, surgical technologies revenue grew 5 percent to $224 million, and physio-control revenue grew 25 percent to $94 million. Looking ahead, Medtronic expects full-year profit between $3.17 and $3.22 per share. Analysts expect $3.15 in fiscal 2010 profit. Medtronic shares rose $2.73, or 6.8 percent, to $43.03 in morning trading. Earlier the stock set a 52-week high of $43.65. Visit link: Medtronic 2Q profit rises 59 percent on sales (AP)

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LITTLE ROCK, Ark. (AP) — Phone company Windstream is buying Iowa Telecommunications Services for $1.1 billion in cash and stock. Windstream Corp. said Tuesday that the acquisition of Telecommunications Services Inc. will expand its operations into Iowa and Minnesota, adding about 256,000 phone lines, 95,000 high-speed Internet customers and 26,000 video subscribers. The deal is expected to close in mid-2010. Little Rock, Ark. Windstream has been snapping up rural phone companies. Three weeks ago, Windstream said it would buy NuVox Inc. for $643 million. Its acquisition of D&E Communications Inc., announced in May, was approved by Pennsylvania regulators earlier this month. Iowa Telecom shareholders will get 0.804 shares of Windstream stock and $7.90 in cash for each share they own. See the rest here: Windstream to buy Iowa Telecom for $1.1 billion (AP)

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ZURICH–(BUSINESS WIRE)–C.En Ltd. ( www.cenh2go.com ), developer of a breakthrough hydrogen storage technology, has announced that it has completed a round of equity financing with global insurance and financial giant Generali Group. Generali Group is one of the largest insurance groups in Europe, operating in over 60 countries, with more than 460 subsidiary companies in the insurance, financial and property fields. Generali Group is committed to the development of various realms of sustainability, and is focused on pioneering technological innovations in the environmental sector. Funding by Generali Financial Holdings (FCP-FIS) – as well as by other leading global partners- will be used to further enhance environmentally sustainable applications of C.En’s hydrogen storage technology. C.En’s unique and innovative technology enables the storage of hydrogen, at very high pressures, in special glass capillaries, thereby offering the first compact, lightweight, safe and economical hydrogen storage solution. “We are fortunate to add Generali to our strong group of existing investors who support our vision and unique technology,” notes Mr. Moshe Stern, President and C.E.O. of C.En Ltd., and adds, “The funding will help advance our vision of turning hydrogen into the leading clean energy source of the future.” Photos/Multimedia�Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6107301&lang=en MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6107301 Read this articl e: C.En Ltd. Completes Financing Round with Generali Group (Business Wire)

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ZURICH, SWITZERLAND–(Marketwire – 11/24/09) – DataCert, Inc ., the leading global provider of legal operations management solutions, hosted an IP Focus Group on November 17 in Basel, Switzerland. This event, which featured presentations by industry leaders from IBM (NYSE: IBM – News ), Honeywell (NYSE: HON – News ), and IS Information Service GmbH , a Thomson Reuters Company, provided an opportunity for DataCert customers to share best practices for managing intellectual property and legal department operations. “DataCert has a demonstrated history of delivering solutions based on our extensive IP expertise,” said Rajitha Boer, vice president/director, EMEA business development. “We have found that our clients really appreciate the opportunity a forum such as this IP Focus Group provides to network and learn from their peers.” This focus group included presentations on IP management best practices and trends, DataCert’s global strategy, budgeting best practices, and how technology enables a successful alternative fee arrangements strategy. In addition, IBM and Honeywell provided an overview of lessons learned from their e-billing implementations, how to optimise the value of e-billing data and how to strategically manage IP vendors and law firms. Presentations were followed by a roundtable discussion of these topics. The featured speakers for this forum included: – David Bain, Associate General Counsel, DataCert, Inc. – Art Haviland, Project Manager, Intellectual Property Systems, IBM – David Hoiriis, Associate General Counsel & Chief IP Counsel, Honeywell – Dr. Reinhard Reck, Managing Director, IS Information Service GmbH About DataCert, Inc. DataCert is the premier global provider of legal operations management solutions, including legal spend, intellectual property, and matter management software and services. Corporate legal departments trust DataCert solutions to manage, analyse, and optimise their legal operations. DataCert has law firm, vendor, and agent connections in more than 150 countries and its customers include 71 Fortune� 500 corporations, 53 Global Fortune� 500 corporations, and 100% of the AmLaw 200. Visit www.datacerteurope.com for more information and follow us on Twitter for real-time updates http://twitter.com/DataCert . About Honeywell Honeywell International is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com . About IBM For more information, please visit www.ibm.com . About IS Information Service GmbH IS Information Service GmbH, a Thomson Reuters company, provides highly specialised IP software tools and services. Founded in 1983 and headquartered in Freiburg, Germany, the company supports European corporations and law firms in the installation and adoption of portfolio management systems. For more information, please visit http://www.is-fr.com/index.htm . More: DataCert Hosts IP Focus Group in Basel, Switzerland (Marketwire)

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(Reuters) – U.S. stock index futures pointed to a lower opening on Wall Street on Tuesday, following the previous session’s sharp gains, with futures for the S&P 500 down 0.18 percent, Dow Jones futures down 0.26 percent and Nasdaq 100 futures down 0.38 percent at 0925 GMT (4:25 a.m. EST). Reuters – Phones hang from a trading terminal on the floor of the New York Stock Exchange, May 19, 2009. … {”s” : “^dji,^ixic,adi,aig”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Hewlett-Packard Co (NYSE: HPQ – News ) said it has tripled the size of its share repurchase program to $12 billion as China sales and better profit margins on its services boosted quarterly earnings. The fiscal fourth-quarter results released on Monday were in line with preliminary figures that HP gave two weeks ago, which had topped Wall Street’s estimates at the time. HP shares traded in Frankfurt were up 0.9 percent. Microchip maker Analog Devices Inc (NYSE: ADI – News ) on Monday reported higher than expected quarterly sales and forecast higher profit margins and busier factories by the end of fiscal 2010. Network equipment maker Brocade Communications Systems Inc (NasdaqGS: BRCD – News ) on Monday reported a higher than expected quarterly profit, despite concerns about competition amid a series of mergers and acquisitions among rivals. Shares in Japan Airlines Corp (Tokyo:9205.T – News ) slid to a record low on Tuesday on growing investor worries that Asia’s largest airline by revenue could face bankruptcy as it struggles to agree pension cuts. The European Commission said on Tuesday it had closed formal anti-trust proceedings against U.S. chip maker Qualcomm as complaints against the firm had been dropped. Oil slipped toward $77 a barrel on Tuesday, held down by a firmer dollar, but trade was thin ahead of the U.S. Thanksgiving holiday and data that was expected to show crude stocks rising in the United States. The dollar rose as some investors bought the currency or closed dollar-short positions before Thanksgiving. Hong Kong and China stocks sank on Tuesday, with Shanghai’s SSE composite index ( ^SSEC – News ) dropping 3.5 percent, dragged down by banks as investors took profit after a recent rally, while concerns about capital-raising plans by lenders sparked fears of shareholder dilution. European stocks were down 0.7 in morning trade, led lower by banks, while miners such as Xstrata (LSE: XTA.L – News ) dropped along with metal prices. The day’s economic agenda includes the Commerce Department’s preliminary (second) estimate of Q3 Gross Domestic Product (GDP) growth, due at 1330 GMT (8:30 a.m. EST). Investors will also keep an eye on monthly consumer sentiment data, due at 1500 GMT (10 a.m. EST). On the earnings front, H.J. Heinz Co. (NYSE: HNZ – News ), Medtronic (NYSE: MDT – News ) and Hormel Foods Corp. (NYSE: HRL – News ) are among the few companies due to report on Tuesday. Kenneth Feinberg, the Obama administration’s pay czar, is being pressed by federal officials to relax executive compensation restrictions at American International Group Inc (NYSE: AIG – News ) for 2010, the Wall Street Journal reported, citing people familiar with the matter. U.S. stocks snapped a three-day losing streak on Monday as stronger than expected home sales data fueled optimism while a weaker dollar boosted commodity-linked stocks. The Dow Jones industrial average (DJI: ^DJI – News ) gained 132.79 points, or 1.29 percent, to end at 10,450.95. The Standard & Poor’s 500 Index ( ^SPX – News ) rose 14.86 points, or 1.36 percent, to 1,106.24. The Nasdaq Composite Index (Nasdaq: ^IXIC – News ) added 29.97 points, or 1.40 percent, to close at 2,176.01. (Reporting by Blaise Robinson; Editing by Greg Mahlich) Read the original post: Stock futures signal losses; HP eyed (Reuters)

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ABINGDON, UK–(BUSINESS WIRE)–Oxagen Limited, a drug discovery and development company specializing in inflammation, announced today the successful completion of a £16 Million ($26.7 Million) Series C round led by Novartis Venture Funds. The proceeds of the funding will be used primarily to advance Oxagen’s CRTH2 antagonist programme in inflammatory and respiratory diseases. This will include the completion of an ongoing Phase IIb clinical study of the lead molecule OC000459 in moderate persistent asthma. This follows the successful completion of proof-of-concept (POC) studies in both asthma and allergic rhinitis. CRTH2, also known as DP2 is a cell surface receptor for prostaglandin D2 and is implicated in allergic inflammation. The funds will also be used to expand the therapeutic indications for CRTH2 antagonists using the lead molecule as well as back-up compounds. The investment was led by Novartis Venture Funds, and joined by existing investors including MPM Capital, SV Life Sciences, Advent Ventures, Bessemer Venture Partners, Omega, Abingworth, IBT, Red Abbey and The Wellcome Trust. Commenting on the fundraising, Mark Payton, Ph.D., Chief Executive Officer of Oxagen said, “We are delighted to welcome Novartis Ventures as a new investor in Oxagen. We are excited by the potential shown to date by CRTH2 antagonists in general and by OC000459 in particular. This funding will allow us to both advance and broaden the therapeutic utility of our portfolio of molecules. We are delighted that this potential has been recognised both by our new lead investor, as well as by our strong base of existing investors.” Anja König, Ph.D., Managing Director at Novartis Venture Funds commented “We are looking forward to joining Oxagen in their exciting effort to deliver their first in class medicine to patients with asthma, a condition with significant unmet need. CRTH2 is a very promising new target in asthma and inflammation and Oxagen’s lead compound has the potential to become a blockbuster.” Anja König will join the Oxagen Board of Directors. -ENDS- Notes for Editors: About Oxagen Oxagen is a biopharmaceutical company building a novel drug pipeline with a focus on inflammatory and respiratory diseases. Oxagen’s pipeline of novel small molecule drugs is based on targets validated in man. Oxagen was established in April 1997. The Company is based in Milton Park, south of Oxford. For more information on Oxagen, please visit www.oxagen.co.uk Here is the original post: Oxagen Limited Raises £16 Million in Series C Private Venture Capital Financing Led by Novartis Venture Funds (Business Wire)

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By Jeremy Gaunt, European Investment Correspondent LONDON (Reuters) – Financial markets did a quick about-face from the previous session’s patterns on Tuesday with stocks falling, the dollar recovering some losses and gold dropping back a bit from record highs. Investors were generally taking profits from Monday’s stock rally, which saw U.S. blue chips gain 1.3 percent and European shares 2 percent. There was also some concern about the banking sector. A German newspaper reported that the majority owners of WestLB (WDLG.UL) were threatening not to support the stricken German landesbank’s requirement for more capital. Rating agency Standard & Poor’s also said on Monday it found most banks in a global study were weakly capitalized, with Citigroup (NYSE: C – News ), UBS (VTX: UBSN.VX – News ) and Mizuho Financial Group (Tokyo:8411.T – News ) more than two-thirds below the average. MSCI’s all-country word stock index ( ^MIWD00000PUS – News ) was down 0.6 percent after gaining 1.7 percent on Monday. The volatile Chinese market ( ^SSEC – News ) was down nearly 3.5 percent. Market analysts said there was little surprise that some profit taking was taking place. But they remained relatively bullish about the future. “China is down after a strong run,” said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin. “But we’re still in a cyclical bull market.” The FTSEurofirst 300 ( ^FTEU3 – News ) index of top European shares was down 0.7 percent. Earlier, Japan’s Nikkei ( ^225 – News ) hit its lowest close in four months, down 1 percent on the day. Japan’s current concerns are focused on worries financial firms will tap the market for equity financing and on a stronger yen hurting the shares of exporters. Many global stock investors are being cautious heading into the year-end, wanting to lock in profits after a very good run in 2009 while also worrying about the true state of the world economy. Some concerns about the U.S. economy were at least temporarily eased on Monday when data showed sales of previously owned U.S. homes had risen to their highest level in more than 2-1/2 years. DOLLAR FIRMS The dollar was broadly higher after a bit of a battering on Monday while the euro fell on the German media report about WestLB. The U.S. currency was up 0.4 percent against a basket of competitors ( ^DXY – News ). It remains down 7 percent for the year, reflecting low U.S. yields on offer. The euro was down 0.4 percent at $1.4905 and the dollar slipped about the same to 88.65 yen. Gold slipped on the stronger dollar and was selling at around $1,164 an ounce, about $9 off an all-time peak hit on Monday. Euro zone government bonds rose, with Bund futures reaching their highest level since early October. (Additional reporting by Brian Gorman; editing by Chris Pizzey) (To read Reuters Global Investing Blog click on http://blogs.reuters.com/globalinvesting; for the MacroScope Blog click on http://blogs.reuters.com/macroscope; for Hedge Hub click on http://blogs.reuters.com/hedgehub ) See the original post here: Bank worries, profit-taking hits stocks (Reuters)

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BRUSSELS (AP) — European Union antitrust regulators on Tuesday dropped a two-year monopoly abuse probe into wireless chip maker Qualcomm Inc., saying they have to focus their priorities elsewhere. The European Commission said the companies that had complained about the royalty fees San Diego-based Qualcomm charged for key third-generation cell phone patents are now withdrawing their allegations. Broadcom Corp., NEC Corp., Nokia Corp., LM Ericsson, Panasonic Mobile Communications and Texas Instruments Inc. had claimed that Qualcomm broke agreements among patent holders to keep costs at reasonable levels. The EU’s executive said it was still concerned about how technology was priced after it was adopted as an industry standard but could not commit the time or resources to “complex” assessments. “Any antitrust enforcer has to be careful about overturning commercial agreements,” it said in a statement. “The commission does not consider it appropriate to invest further resources in this case.” Read the original here: EU drops Qualcomm antitrust probe (AP)

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FRANKFURT (AP) — The euro fell against the dollar in European morning trade Tuesday as investors moved back to the safety of the American currency after declines in Asian equity markets. The euro bought $1.4902 compared with $1.4973 late Monday in New York. The British pound also fell, buying $1.6530 compared with $1.6621 while the dollar slid to 88.61 Japanese yen from 89.02 yen late Monday in New York. Japanese shares fell to a new four-month low Tuesday, after overnight gains on Wall Street amid growing pessimism over a recovery in the world’s No. 2 economy. The benchmark Nikkei 225 stock average dropped to its lowest point since July 17. Sentiment in Tokyo also turned downbeat because of a strong yen, which pressures Japanese exporters by eroding their overseas profits. “Yesterday’s dollar slide was halted just above the previous lows, after Tokyo shares fell on concerns that Japanese banks will sell more shares to replenish capital,” Michael Hewson, a currency analyst at CMC markets, said in a Tuesday research note. Hewson said the euro versus the dollar didn’t break the $1.50 mark Monday and failure to gain a foothold above that key level doesn’t bode well for the euro, which could next fall to the $1.4800 to $1.4810 level. Hewson said, however, that if the euro moves higher than the $1.5060 to $1.5070 level, than currency markets could target the euro going as high as $1.5290. Investors will be looking to Germany’s Ifo economic sentiment survey later Tuesday for an indication on the direction of Europe’s largest economy. Read the original: Euro falls to $1.4902 in European morning trade (AP)

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ESPOO, Finland, November 24 /PRNewswire-FirstCall/ — Nokia (NYSE: NOK – News ) today unveiled two new 3G slider phones, the Nokia 6700 slide and Nokia 7230, made for the design-conscious consumer and optimized for socializing and sharing with those closest to you. Available in various fresh colors, with great imaging features and quick access to popular social networking communities, the Nokia 6700 slide and Nokia 7230 make a real style statement. Both devices are expected to become available in the first quarter of 2010, and the retail prices before taxes and subsidies are anticipated to be EUR 160 for the Nokia 6700 slide, and EUR 100 for the Nokia 7230. Nokia 6700 slide – Capture and share quickly and easily With a choice of six fresh and vivid colors – pink, red, petrol blue, aluminum, lime and purple – this slimline slider is sure to turn heads. Its compact size, modern design and aluminum finish feels great in the hand, and fits perfectly even in the smallest pocket or bag. The smart capabilities of the Nokia 6700 slide are beautifully easy to use: The 5 megapixel camera with Carl Zeiss optics is perfect for capturing and sharing moments as they happen. Favorite images can be edited on the go and uploaded to the web directly from the camera menu. The device’s high speed 3G connectivity ensures your favorite communities are always as close as your Nokia 6700 slide. Nokia 7230 – Share in style Being connected has never looked so good. The Nokia 7230’s compact slide design, colorful looks and solid set of features are a package that offers great value for money. Sharing special moments and joy with friends and family is effortless, thanks to the 3.2 megapixel camera, large 2.4″ display and fast 3G connectivity. With the Nokia 7230 in your pocket, you also have quick access to email, instant messaging and social networks on the go, and the subtle illumination indicates if you have missed calls or messages from your friends. Additional press materials and photos can be found at http://www.nokia.com/press . About Nokia Nokia is a pioneer in mobile telecommunications and the world’s leading maker of mobile devices. Today, we are connecting people in new and different ways – fusing advanced mobile technology with personalized services to enable people to stay close to what matters to them. We also provide comprehensive digital map information through NAVTEQ; and equipment, solutions and services for communications networks through Nokia Siemens Networks. http://www.nokia.com Here is the original post: Fresh Looks and Smart Features: New Nokia 6700 Slide and Nokia 7230 Unveiled (PR Newswire)

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WASHINGTON (AP) — Republicans love to get their hands on the Democrats’ health care legislation. They show it to the cameras at every opportunity, even piling one version on top of another to make a big pile look even bigger. AP – FILE – These Oct. 28, top, and Oct. 29, 2009, file photos show copies of the House version … Although they complain they don’t have time to read all of it, they found the time to tape it together, page by page, so they could roll it up the steps of the Capitol like super-sized toilet paper and show how very long it is. It surely is long. But, no, not longer than “War and Peace,” as they claim. No one really expects brevity when reinventing something as complex and huge as the nation’s health insurance system, which accounts for one-sixth of the economy. Indeed, legislation of comparable size was used to redefine an area of much more limited federal responsibility, education. That was the No Child Left Behind Act from the agenda of Republican President George W. Bush. Size only matters in the health care debate because Republicans have turned the length of the legislation into a symbol: Big, unwieldy bill means big, overreaching government. Even bigger when you display double-spaced copies with double-wide margins and large print. As if he risked a hernia carrying it any other way, Republican Rep. Steve King of Iowa was seen hoisting such a copy of the House Democratic bill on his shoulder, the package trussed in a sturdy rope. GOP Rep. John Culberson of Texas brought a copy to a Capitol Hill rally and threw its loose pages to the crowd, like meat to lions. During the weekend vote to bring the Senate health bill to full debate, five Republican senators displayed the massive legislation on their desks and one of them, Republican leader Mitch McConnell of Kentucky, piled the House and Senate bills together to represent a nightmarishly bureaucratic double-whammy. The actual bill, which Senate Majority Leader Harry introduced last week, came in at 2,074 double-spaced pages, 84 more pages than the House version, which was already being ridiculed for its size. “That’s larger than the novel ‘War and Peace,’” Republican Sen. Orrin Hatch of Utah said of the Senate bill. “Exceeding even ‘War and Peace’ in length,” Rep. Roy Blunt, R-Mo., said of the House bill. Said Rep. Joe Barton, R-Texas: “‘War and Peace’ — some people consider it the greatest book ever written, but most people recognize the novel because at 1,284 pages its length is often the butt of jokes. Now imagine trying to read something that long overnight.” Actually, Leo Tolstoy’s tome is longer than either bill. Full translated versions are nearly twice as long. The bill passed by the House is 319,145 words. The Senate bill is 318,512 words, shorter than the House version despite consuming more paper. Various versions of Tolstoy’s novel are 560,000 to 670,000 words. Bush’s education act tallied more than 280,000 words. By now, the full draft of Reid’s bill that had circulated in the corridors and landed so prominently on Republican desks has been published in the Congressional Record in the official and conventional manner. The type is small and tight. No hernias will be caused by moving this rendering of the bill around. Unfurling it on the Capitol steps would not be much of a spectacle. It’s 209 pages. Associated Press writer Ann Sanner contributed to this report. See original here: SPIN METER: Legislation inflation grips GOP (AP)

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SHANGHAI (AP) — Chinese shares retreated Tuesday on policy uncertainty ahead of the government’s annual economic planning meeting. The benchmark Shanghai Composite Index plunged by 115.14 points, or 3.5 percent, to close at 3,223.53. The Shenzhen Composite Index for China’s smaller second exchange lost 4.3 percent to 1,175.01. Investors worry that the government meeting this month might issue policy changes that could reduce liquidity, said Zheng Gang, an analyst for Yingda Securities in the southern business center of Shenzhen. Regulators ordered Chinese banks on Monday to control lending and manage risks better. Before Tuesday’s decline, the market had gained 11.4 percent this month. “With such a rapid growth pace, investors are scared at anything that might move the market,” said Zheng. Bank and resources heavyweights led the drops. Industrial & Commercial Bank of China Ltd., China’s biggest commercial lender, shed 2.7 percent to 5.32 yuan. Bank of China Ltd. slipped 2.3 percent to 4.25 yuan, while China Construction Bank Ltd. dropped by 2.9 percent to 6.1 yuan. PetroChina Ltd., Asia’s biggest oil and gas producer, lost 3 percent to 13.68 yuan, while China Petroleum & Chemical Corp., Asia’s largest refiner by capacity, declined by 3.9 percent to 12.15 yuan. Medical shares fell after surges in previous sessions. Shenzhen Neptunus Bioengineering Co. lost 6.7 percent to 19.5 yuan, while vaccine maker Hualan Biological Engineering Co. declined 5.5 percent to 58.34 yuan. Steelmakers rose on higher steel prices. Baoshan Iron & Steel Co., China’s biggest steel producer, gained 3.4 percent to 8.23 yuan. Inner Mongolia BaoTou Steel Union Co. advanced 7 percent to 5.18 yuan. In currency markets, the yuan weakened to 6.8293 to the U.S. dollar, down from Monday’s close of 6.8281. Go here to see the original: China shares fall on economic policy uncertainty (AP)

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SEATTLE, Nov. 24 /PRNewswire-FirstCall/ — Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) management will present at the 21st Annual Piper Jaffray Health Care Conference. The conference will be held December 1-2, 2009, at the New York Palace Hotel. CTI will present on Tuesday, December 1 at 11:00 a.m. Eastern Time in Holmes 1 (4th Floor). A live audio webcast of CTI’s presentation will be available at www.celltherapeutics.com , and it will also be available for replay afterwards. Piper Jaffray Health Care Conference New York Palace Hotel, Holmes 1 (4th Floor) CTI Presentation: Tuesday, December 1, 2009 11:00 a.m. Eastern /5:00 p.m. Central European /8:00 a.m. Pacific Audio webcast at www.celltherapeutics.com Media Contact: Dan Eramian T: 206.272.4343 C: 206.854.1200 F: 206.272.4434 E: deramian@ctiseattle.com www.celltherapeutics.com/press_room Investors Contact: Ed Bell T: 206.272.4345 Lindsey Jesch Logan T: 206.272.4347 F: 206.272.4434 E: invest@ctiseattle.com www.celltherapeutics.com/investors Read more: Cell Therapeutics, Inc. (CTI) to Present at 21st Annual Piper Jaffray Health Care Conference (PR Newswire)

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BANGKOK (AP) — Asian stock markets were mostly lower Tuesday despite gains on Wall Street as China’s warning to banks to control lending dragged down financial stocks in Hong Kong. The region also got a poor cue from Japan, where stocks fell after the market was closed for a holiday Monday. The dollar was little changed against the euro and the yen. Gold retreated from a record and oil prices hung below $78. Investors shrugged off Wall Street ending a three-day losing streak Monday and figures showing that U.S. home sales rose 10 percent in October. News that China’s central bank was warning banks to control a lending spree underlined there are limits to the easy credit which has underpinned the country’s rapid recovery from the global recession. “The central bank has been concerned about lending to the property sector,” said Franics Lun, general manager of Fulbright Securities Ltd. in Hong Kong. “If they can put on the brakes to avoid an asset bubble it is likely to be better for the longer term,” he said. Japan’s Nikkei 225 stock average was down 72.73, or 0.8 percent, at 9,421.53 and Hong Kong’s Hang Seng was off 48.61, or 0.2 percent, at 22,722.78. Banks fell in Hong Kong trade with Bank of China off 2.1 percent, China Construction Bank down 1 percent and HSBC retreating 0.3 percent. Elsewhere, South Korea’s Kospi dropped 0.9 percent to 1,604.66 and Australia’s S&P/ASX 200 index declined 0.5 percent to 4,691.40 on losses in banks and miners. China’s Shanghai benchmark bucked the trend to rise 0.1 percent to 3,342.28. In the U.S. on Monday, the Dow rose 132.79, or 1.3 percent, to 10,450.95, after losing 120 points over the previous three days. It was the Dow’s highest close since Oct. 2, 2008. The Standard & Poor’s 500 index rose 14.86, or 1.4 percent, to 1,106.24. Oil hovered below $78 a barrel in Asia amid mixed signs about crude demand. Benchmark crude for January delivery was up 10 cents to $77.66 a barrel. The contract rose 9 cents to settle at $77.56 on Monday. In currencies, the dollar fell to 88.89 yen from 88.97. The euro fell to $1.4946 from $1.4964. More: Asia markets lower amid China warning to banks (AP)

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SINGAPORE (AP) — Oil hovered below $78 a barrel Tuesday in Asia amid mixed signs about the global economy and crude demand. Benchmark crude for January delivery was up 16 cents to $77.72 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 9 cents to settle at $77.56 on Monday. Investor optimism was buoyed by a report Monday from the National Association of Realtors that October home sales rose more than 10 percent, suggesting strength in the U.S. economy. But crude refiner Valero Energy said it shut down a plant last week because demand for oil products such as gasoline has been weak. Crude has bounced between $76 a barrel and $82 for more than a month as a weakening dollar offsets concerns about tepid consumer demand. Oil often trades inversely to the strength of the dollar as investors buy commodities as a hedge against inflation. Societe Generale said weakness in the dollar and expectations of higher inflation have provided for a floor for the oil price, limiting losses. “The ceiling has been set by weak refining margins, lackluster demand and a global economic recovery that is expected to be sluggish,” it said in a report. In other Nymex trading, heating oil was steady at $1.98 a gallon. Gasoline for December delivery held at $1.98 a gallon. Natural gas for December delivery was little changed at $4.47 per 1,000 cubic feet. In London, Brent crude for January delivery rose 20 cents to $77.66 on the ICE Futures exchange. Original post: Oil hovers below $78 as traders eye dollar, demand (AP)

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SAN FRANCISCO (AP) — Hewlett-Packard Co.’s cost-cutting and push into new markets is helping soften the blow from weakness in the company’s mainstay businesses. AP – FILE – In this March 8, 2009 file photo, the Hewlett-Packard Co. facility in Palo Alto, Calif., is … HP on Monday reported big revenue declines in four of its main divisions — PCs, servers, software and printers — in the latest quarter. A bright spot was technology services, a division HP beefed up last year with the $13.9 billion acquisition of Electronic Data Systems and which posted better profits. HP is eliminating 24,600 jobs as part of that takeover. HP’s numbers reinforce trends other companies have reported: Consumers and China are showing stronger demand, while businesses remain hesitant. Other tech heavyweights such as Google Inc., IBM, Intel Corp. and Microsoft Corp. have reported better conditions in some of their businesses. HP said after the market closed that its earnings jumped 14 percent to $2.4 billion, or 99 cents per share, in the three months ended Oct. 31. That compares with $2.1 billion, or 84 cents per share, in the year-ago period. Excluding one-time items, net income totaled $1.14 per share. Sales fell 8 percent to $30.8 billion, or dropped 5 percent if currency fluctuations are stripped out. By both metrics, the results exceeded the expectations of analysts polled by Thomson Reuters. HP also added $8 billion to its stock buyback program, boosting the total amount available to $12 billion. HP’s latest moves represent a shift away from the company’s dependence on the PC market, which is vulnerable to swings in consumer and corporate spending, as well as to fluctuations in prices for components like memory chips and LCD screens. On the other hand, companies will pay for things like outsourcing services even in lean times, because they save money in the long run. IBM has ridden that model to better profits in the recession, despite slumping sales. The PC division supplies a third of HP’s revenue but just 15 percent of the company’s operating profit, numbers that are getting slimmer as PC makers aggressively cut prices to court cash-strapped consumers and people snap up little laptops called “netbooks” that sell for just a few hundred dollars. In the latest period, HP’s PC shipments rose 8 percent, but revenue in the PC division fell 12 percent. The trend has hurt other PC makers as well. Last week, Dell Inc., the No. 3 PC maker, disappointed investors by reporting a 54 percent drop in net income in its latest quarter. Still, HP’s results support Gartner Inc.’s report Monday that the third quarter was “much stronger” than expected for PC sales. Gartner is now predicting that PC shipments will rise 2.8 percent this year, up from a prior forecast for a 2 percent decline. HP, which is buying 3Com Corp. for $2.7 billion to expand computer networking, announced its preliminary results on Nov. 11, so investors knew what was coming. Still, some apparently expected even better. HP shares dipped 32 cents to $50.70 in extended trading, having closed up 2 percent at $51.02 ahead of the earnings report. See original here: HP profit jumps on cost cuts, new market expansion (AP)

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DENVER (AP) — Newmont Mining has agreed to sell a 14 percent stake in an Indonesian gold mine for $494 million, ending a years-long dispute with the Indonesian government over how the mining company should sell shares as required under its contract to operate in the country. Newmont shares ownership of the Batu Hijau mine with Japan’s Sumitomo Corp. and Indonesia’s PT Pukuafu Indah. The Denver-based company says it will transfer the stake to private company PT Multicapital and PT Multi Daerah Bersaing, a consortium of regional and local Indonesian governments. Last week, Newmont Mining Corp. said a separate 10 percent share was sold to the consortium, for proceeds of about $391 million. See the rest here: Newmont to sell Indonesia venture stake for $494M (AP)

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By Susan Fenton Reuters – Investors play cards in front of an electronic screen showing stock information at a brokerage house in Taiyuan, … {”s” : “^axjo,^dji,^n225″,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} HONG KONG (Reuters) – The dollar stabilized in early trade on Tuesday after losing ground in New York, while Asian shares slipped as investors shrugged off upbeat U.S. home sale data and took a breather after recent gains. The dollar ( ^DXY – News ) recovered ground as investors in Asia grew more cautious ahead of a string of U.S. economic data this week and the start of the Christmas shopping season on Friday after the U.S. Thanksgiving holiday, which will be a key test of consumer confidence. The dollar ( ^DXY – News ) was up 0.2 percent against a basket of major currencies after falling in New York where the market took comments by U.S. Federal Reserve official James Bullard on Sunday as further evidence the U.S. would maintain its very low interest rate policy for some time. Dealers in Tokyo said some investors on Tuesday were closing dollar short-positions ahead of the Thanksgiving holiday. Asian shares slid despite a solid performance on Wall Street, where the Dow Jones (DJI: ^DJI – News ) rose 1.3 percent as data showed existing home sales reached their highest level in two-and-a-half years. The MSCI index of Asia Pacific stocks traded outside Japan ( ^MIAPJ0000PUS – News ) was down 0.4 percent but it has already rallied 66 percent this year, leading some investors to question whether economic data is strong enough to justify further gains at this stage. Revised third-quarter U.S. GDP data and a U.S. consumer confidence report later on Tuesday will give more clues on the strength of the world’s largest economy. Sales at U.S. retailers on Friday after the holiday could yield vital clues to the recovery power of American consumers, whose spending accounts for more than two-thirds of the economy. They could also signal whether Asian exporters can expect a rush of late orders before Christmas. The Thomson Reuters index of regional shares ( ^TRXFLDAXPU – News ) was virtually unchanged. “It’s a day-to-day situation. Any snippets of good news are well received here, but the gains are not necessarily sustained,” said David Spry, research manager at F.W. Holst in Australia, where the main stock index (ASX: ^AXJO – News ) slipped 0.2 percent. “The market has anticipated a fair bit already and we haven’t got much to show for it yet, results don’t come out till February next year,” he said, referring to the next corporate profit reporting season. JAL HITS RECORD LOW Japan’s Nikkei index (Osaka: ^N225 – News ) dipped 0.5 percent as a firm yen hit shares of exporters and investors worried about the economy. Finance Minister Hirohisa Fujii said Japanese demand was weak and fiscal policy alone could not revive it, putting pressure on the Bank of Japan to respond to deflation. Japan Airlines (Tokyo:9205.T – News ) tumbled 7 percent, hitting a record low at one point, on fears the struggling carrier could face bankruptcy and on news that trading house Mitsui & Co (Tokyo:8031.T – News ) had sold its entire stake in the firm. As the dollar steadied, gold retreated to $1,165.20 after hitting a new record high at $1,173.50 on Monday. Oil prices were little changed at around $77.50 a barrel ahead of a weekly inventory report due later from the American Petroleum Institute. “The market is basically in a holding pattern, awaiting more data,” said Peter McGuire, managing director of Commodity Warrants Australia. Growing jitters over looming monthly economic data in South Korea sent Korean government bonds lower and the five-year government bond yield rose three basis points to 4.83 percent. (Additional reporting by Victoria Thieberger in MELBOURNE and Jennifer Tan in SINGAPORE; Editing by Kim Coghill) Visit link: Dollar stabilizes, Asia shares slip (Reuters)

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SHENZHEN, China, Nov. 23 /PRNewswire-FirstCall/ — China BAK Battery Inc. (Nasdaq: CBAK – News ), one of the largest lithium-ion battery cell manufacturers in the world, as measured by production output, will hold its quarterly conference call to discuss results for the fourth quarter and fiscal year ended September 30, 2009 on Wednesday, December 2, 2009, at 8:00 a.m. Eastern Time (9 p.m. China Coast Time). The dial-in numbers for the call are 800 688 0796 (US), 617 614 4070 (International), and the passcode is 107 164 82. This call is being webcast by Thomson Reuters and can be accessed at China BAK Battery Inc.’s Web site at http://www.bak.com.cn/ . The webcast is also being distributed through the Thomson Reuters StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at www.fulldisclosure.com , Thomson Reuters’ individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson Reuters’ password-protected event management site, StreetEvents ( www.streetevents.com ). About China BAK Battery Inc. China BAK Battery, Inc. is one of the largest manufacturers of lithium-based battery cells in the world, as measured by production output. It produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, notebook computers and portable consumer electronics, such as digital media devices, portable media players, portable audio players, portable gaming devices and personal digital assistants (or PDAs), and other applications, such as cordless power tools and minings lamp. China BAK’s 3.0 million square feet of facilities are located in Shenzhen and Tianjin, PRC, and have been recently expanded to produce new products. More information about China BAK (Nasdaq: CBAK – News ) is available at http://www.bak.com.cn/ . Contact Information: Tracy Li IR Manager Tel: 86-755-89770093 Mail: IR@bak.com.cn Continued here: China BAK Battery Fourth Quarter Fiscal 2009 Earnings Conference Call (PR Newswire)

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NORWALK, Conn.–(BUSINESS WIRE)–GE Capital, the financial services segment of the General Electric Company (NYSE: GE – News ), today announced the appointment of Steve Sargent as president and CEO of GE Capital’s business operations in Asia Pacific. Sargent, 49, will oversee operations for GE Capital in Asia Pacific, which is headquartered in Tokyo, Japan. He is taking over the role formerly served by John Flannery, who has been promoted to run GE’s operations in India. Sargent is a 16-year GE veteran with over 30 years of global financial services experience. Currently he is serving as president and CEO of GE for Australia and New Zealand (ANZ) and president and CEO of GE Capital for Australia and New Zealand. Sargent will continue heading GE Capital   ANZ until a replacement is named and will remain national executive for GE ANZ along with his new Asia Pacific role. “Steve is an ideal match for this position,” Mike Neal, GE vice chairman and GE Capital president and CEO, said. “He knows the industry, region and GE Capital equally well. Throughout his career, Steve has developed strong customer relationships, built talented teams and found innovative ways to grow the business. In a very challenging 2008, he lead our GE Capital ANZ team to grow earnings double digits while reducing costs. He will bring this operational excellence to Asia Pacific, an important market for us. The fact that we have someone of Steve’s caliber ready to take on this new challenge is a testament to GE’s leadership development.” Prior to his current role, Sargent held a number of senior finance, sales and quality positions in GE Capital, including president and CEO of GE European Equipment Finance from 2000 to 2003. He is a graduate of Charles Sturt University in Australia. About GE Capital GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE – News ) is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews). About GE GE (NYSE: GE – News ) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company’s Web site at www.ge.com . Follow this link: Steve Sargent Named President and CEO of GE Capital Asia Pacific (Business Wire)

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SAN FRANCISCO (AP) — Hewlett-Packard Co.’s profit jumped 14 percent in the latest quarter, proof that cost-cutting and a push into rival IBM Corp.’s stronghold of technology services is helping the company absorb a falloff in sales in most of its major divisions. AP – FILE – In this March 8, 2009 file photo, the Hewlett-Packard Co. facility in Palo Alto, Calif., is … {”s” : “coms,csco,dell,goog,hpq,ibm,intc,it,msft”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} As a yardstick for the health of overall technology spending, HP’s latest numbers reinforce trends other companies have reported: Consumers and China are showing stronger demand, while businesses remain hesitant. Other tech heavyweights such as Google Inc., IBM, Intel Corp. and Microsoft Corp. have reported better conditions in some of their businesses. HP also added $8 billion to its stock buyback program, boosting the total amount available to $12 billion. HP reported Monday after the market closed that it earned $2.4 billion, or 99 cents per share, in the three months ended Oct. 31. That compares with $2.1 billion, or 84 cents per share, in the year-ago period. Excluding one-time items, net income was $1.14 per share. Sales fell 8 percent to $30.8 billion, or dropped 5 percent if currency fluctuations are stripped out. By both metrics, the results exceeded the expectations of analysts polled by Thomson Reuters. Investors had a good idea what was coming, since HP announced its better-than-expected preliminary results on Nov. 11. Still, some apparently expected even better. HP shares dipped 20 cents, less than 0.4 percent, to $50.82 in extended trading. Before the earnings report they closed at $51.02, up 2 percent. HP’s results show how important the expansion beyond personal computers has been for the world’s No. 1 PC maker. Four of HP’s major divisions — PCs, servers, software and printers — each reported big revenue declines from last year, a trend HP has responded to buy buying its way into other, more profitable markets. HP’s services division, which it beefed up last year with the $13.9 billion acquisition of IBM rival Electronic Data Systems, posted better profits. Unlike IBM, however, HP didn’t release the dollar value of its new-contract signings or the value of its services backlog, key indicators of how much business is in the pipeline. HP, which is based in Palo Alto, is also muscling into Cisco Systems Inc.’s turf of computer networking with the $2.7 billion takeover of 3Com Corp. announced last month. The moves represent a shift away from HP’s dependence on the PC market, which is vulnerable to swings in consumer and corporate spending, as well as to fluctuations in prices for components like memory chips and LCD screens. The PC division supplies a third of HP’s revenue but just 15 percent of the company’s operating profit, numbers that are getting slimmer as PC makers aggressively cut prices to court cash-strapped consumers and people snap up little laptops called “netbooks” that sell for just a few hundred dollars. In the latest period, HP’s PC shipments rose 8 percent, while revenue in the PC division fell 12 percent. The trend has hurt other PC makers as well. Last week, Dell Inc., the No. 3 PC maker, disappointed investors by reporting a 54 percent drop in net income in its latest quarter. Still, HP’s results support Gartner Inc.’s report Monday that the third quarter was “much stronger” than expected for PC sales. Gartner is now predicting that PC shipments will rise 2.8 percent this year. The firm was predicting a 2 percent decline before. Deep cost cuts have accompanied HP’s shift in strategy. HP is eliminating 24,600 jobs as part of the EDS acquisition, and hasn’t addressed whether there will be layoffs at 3Com, which has 5,800 employees worldwide. In May the company announced a separate round of 6,400 cuts involving workers from the product divisions. Link: HP profit jumps on cost-cutting, services strength (AP)

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HOUSTON (AP) — Kinder Morgan Energy Partners LP said Monday that it expects to pay out an annual cash dividend of $4.40 per unit in 2010, up from $4.20 in 2009. Chairman and CEO Richard D. Kinder also said in a statement that the energy transportation and storage company expects to invest about $1.5 billion in expansions and small acquisitions in 2010. The board of directors will review and approve KMP’s 2010 budget at its January meeting. Shares of Kinder Morgan rose 22 cents to $56.85 in after-hours trading, after gaining 64 cents during the regular session to close at $56.63. Continued here: Kinder Morgan expects to pay $4.40 annual dividend (AP)

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By Al Yoon NEW YORK (Reuters) – Freddie Mac, the U.S. mortgage finance giant, said on Monday it is seeking $595 million in loan payments and other funds hung up after the bankruptcy of lender Taylor, Bean & Whitaker. Freddie Mac (NYSE: FRE – News ; NYSE: FRE – News ) said it filed a proof of claim for the money that “should remain” on deposit with Colonial Bank, the failed financial institution used by Taylor Bean as it collected mortgage principal and interest payments from borrowers, according to a regulatory filing. The claim could add to the fallout from the Taylor Bean bankruptcy, which came after the government suspended its relationship with the firm. Freddie Mac has previously said its exposure to Taylor Bean’s obligations to repurchase loans was about $500 million as of September 30. While total exposures to Taylor Bean are unknown, “the amount of additional losses related to such exposures could be significant,” the McLean, Virginia-based company said in a filing with the Securities and Exchange Commission. Ocala, Florida-based Taylor Bean, which was the nation’s 12th-largest U.S. mortgage lender from January to June, filed for protection from creditors in August. Losses faced from Taylor Bean or Colonial would compound troubles for Freddie Mac, which as the second-largest U.S. provider of home funding is reeling from losses as the housing crisis unfolds. They may add to what the company needs from the U.S. Treasury, which since late 2008 has supplied $52 billion to keep the company solvent and active in the housing market. The Federal Housing Administration suspended Taylor Bean earlier in August, citing its failure to submit a required annual financial report, its having “misrepresented” that it had no unresolved issues with its auditor and “irregular transactions that raised concerns of fraud.” U.S. regulators seized Colonial’s banking operations on August 14 and sold its assets to BB&T Corp (NYSE: BBT – News ), the Winston-Salem, North Carolina-based regional bank. Taylor Bean has said it could not access its Colonial bank accounts and was in talks with the FDIC to let it process payments for its mortgage borrowers. Freddie Mac’s claims on funds with Colonial, or the FDIC as Colonial’s receiver, include mortgage payoffs and taxes and insurance payments received by Taylor Bean as a loan servicer, it said in the filing. (Additional reporting by Jonathan Stempel; Editing by Dan Grebler) More: Freddie says TBW-related loss may grow, files claim (Reuters)

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HOUSTON–(BUSINESS WIRE)–Kinder Morgan Energy Partners, L.P. (NYSE: KMP – News ) today announced its preliminary projections for next year, stating that it expects KMP to declare cash distributions of $4.40 per unit for 2010, a 4.8 percent increase over its 2009 budget target of $4.20 per unit. The company also reiterated it remains confident that it will achieve its 2009 targeted distribution per unit, which represents a 4.5 percent increase over 2008. Chairman and CEO Richard D. Kinder said, “Kinder Morgan’s stable and diversified assets continue to grow and increase cash flow, even during the recent recession and ongoing weak economic times. In 2010, we anticipate that our business segments will generate almost $3.4 billion in segment earnings before DD&A, an increase of more than $400 million over the 2009 forecast. We expect to distribute approximately $1.35 billion for 2010 to our limited partners.” Kinder noted that management anticipates investing approximately $1.5 billion at KMP in expansions and small acquisitions in 2010 to further grow the company. Approximately $400 million of the equity required for this investment program will be funded by Kinder Morgan Management (NYSE: KMR – News ) dividends. KMP’s expectations assume an average West Texas Intermediate (WTI) crude oil price of approximately $84 per barrel in 2010, which approximates the current forward curve for next year. The overwhelming majority of cash generated by KMP’s assets is fee based and is not sensitive to commodity prices. In its CO 2 segment, the company hedges the majority of its oil production but does have exposure to unhedged volumes, a significant portion of which are natural gas liquids. For 2010, every $1 change in the average WTI crude oil price per barrel is expected to impact the CO 2 segment by approximately $6 million (or less than 0.2 percent of our combined business segments’ anticipated segment earnings before DD&A). The board of directors will review and approve KMP’s 2010 budget at its January board meeting and that budget will be discussed in detail during the company’s annual analyst meeting on Jan. 28, 2010, in Houston. Kinder Morgan remains committed to transparency and will continue to publish its budget on the company’s web site, www.kindermorgan.com . The 2010 budget will be the standard by which KMP measures its performance next year and will be a target for determining employee bonuses. Kinder Morgan Management, LLC Kinder Morgan Management LLC (NYSE: KMR – News ) announced its preliminary projections for 2010 and expects to declare distributions of $4.40 per share. The distribution to KMR shareholders will be paid in the form of additional KMR shares. The distribution is calculated by dividing the cash distribution to KMP unitholders by KMR’s average closing price for the 10 trading days prior to KMR’s ex-dividend date. Kinder Morgan Energy Partners, L.P. (NYSE: KMP – News ) is a leading pipeline transportation and energy storage company in North America. KMP owns an interest in or operates more than 28,000 miles of pipelines and 170 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO 2 and other products, and its terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke. KMP is also the leading provider of CO 2 for enhanced oil recovery projects in North America. One of the largest publicly traded pipeline limited partnerships in America, KMP has an enterprise value of over $25 billion. The general partner of KMP is owned by Kinder Morgan, Inc., a private company. For more information please visit www.kindermorgan.com . This news release includes forward-looking statements. Although Kinder Morgan believes that its expectations are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein are enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the Securities and Exchange Commission. Visit link: Kinder Morgan Expects to Distribute $4.40 Per Unit for 2010 (Business Wire)

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The federal agency in charge of product safety plans to announce a crib recall on Tuesday. “There is a crib recall tomorrow, and it’s going to be really important for all parents to pay attention,” said Scott Wolfson, spokesman for the Consumer Product Safety Commission. “There is also a larger effort by CPSC to put in mandatory rules to make all cribs safer.” Wolfson did not provide further details, though media reports indicated that the recall will target drop-side cribs, cribs whose sides slide down. More than 5 million cribs, bassinets and play yards have been recalled since the beginning of 2007, according to CPSC. This includes the recall of 400,000 drop-side cribs by manufacturer Simplicity in July, as the result of some fatalities, according to the CPSC. The agency also said that 600,000 drop-side cribs were recalled by Delta Enterprise in October. The recalls were prompted by concerns that infants and toddlers could get trapped by the mechanism of the crib and suffocate. “This has certainly been a hazard that we’ve been aware of for some time,” said Nancy Cowles, director of Kids In Danger, a Chicago-based advocacy group. Drop-side cribs have been associated with “dozens of deaths” over the years, she added. Toys “R” Us, one of the largest retailers of nursery furniture, said it has decided to stop placing orders for drop-side cribs and expects to stop carrying them by the end of 2009. Jennifer Albano, a Toys “R” Us spokesperson, said the company supports proposed standards that would, among other things, require that cribs no longer be manufactured with a drop-side. Albano said a consortium of crib manufacturers, consumer safety advocates and a products standards organization met with the CPSC in March to discuss the possibility of changing voluntary production standards for cribs as part of ongoing efforts to improve safety. However, no official decision has been made and Toys “R” Us does still have some drop-side cribs in stock, Albano said. The legislature in Suffolk County, N.Y., at the eastern end of Long Island, banned sales of the drop-side crib in October. See the original post: Government agency to announce crib recall Tuesday (CNNMoney.com)

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Retail gasoline prices headed downward in most places to begin one of the country’s busiest travel weeks, with more than 33 million people expected to hit the road for the Thanksgiving holiday. AP – In this photo taken Nov. 20, 2009, a tanker truck makes a fuel delivery at a Little Rock, … Americans are remaining closer to home because of anxiety about the economy and demand for gasoline is weaker now than it was last year at this time. That is telling because a gallon of gasoline then cost only $1.93 as the economic crisis unfolded in 2008. Unlike last year, however, gas is not falling sharply and though prices fell overnight, it still cost about $2.64 per gallon on average, according to Department of Energy data and also auto club AAA, Wright Express and Oil Price Information Service. “I think we will see some increases in the spring like we always do,” said Fred Rozell, retail pricing director at OPIS. “But at this point I think we’re going to kind of see a status quo for a while.” Gasoline prices were either flat or falling in most places, but rose nearly 4 cents across the Midwest, according to a report Monday from the Energy Information Administration. Prices spiked 10 cents in Cleveland, according to the EIA. Crude prices have remained relatively strong, which has helped keep gas prices well above $2.50. A survey by the AAA this weekend found that the number of Americans traveling away from home for Thanksgiving will be up just 2.1 percent this year from 2008. Crude prices have dragged retail gasoline prices higher throughout the year and rose by 9 cents per barrel on Monday. Benchmark crude for January delivery settled at $77.56 a barrel on the New York Mercantile Exchange after the release of some surprising housing numbers. The National Association of Realtors said home sales rose 10.1 percent in October. That is the highest level in more than two years and helped push crude prices higher on expectations of increased demand. Still, crude in storage is above normal levels for this time of year and refiners that turn oil into gasoline, jet fuel and diesel are cutting back because demand is so weak. Valero Energy became the latest to shut down a refinery Friday, the largest U.S. facility shut down so far this year. That follows other refiners like Sunoco and Western Refining, who have shut down plants in recent months and off almost 1,000 workers. Refiners say they can’t raise the price of gasoline and jet fuel because people aren’t traveling as much, but they must pay higher prices for crude because of the weak dollar. Air travel is projected to decline 6.7 percent, or 2.3 million travelers this year compared to 2.5 million in 2008. In other Nymex trading, heating oil rose less than a penny to settle at $1.9799 a gallon. Gasoline for December delivery fell less than a cent to settle at $1.9794 a gallon. Natural gas for December delivery rose about 5 cents to settle at $4.473 per 1,000 cubic feet. In London, Brent crude for January delivery fell 26 cents to settle at $77.46 on the ICE Futures exchange. Associated Press Writers Alex Kennedy in Singapore and Barry Hatton in Lisbon, Portugal, contributed to this report. Visit link: Gas prices fall to begin busy travel week (AP)

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NEW YORK (AP) — Patent holding company Klausner Technologies Inc. on Monday said it’s suing Motorola Inc. and the maker of BlackBerry smartphones for allegedly violating its patent for visual voicemail. Klausner said Motorola uses visual voicemail on its “Cliq” cell phones. Other Motorola phones with visual voicemail already are under license from Klausner. Visual voicemail lets callers see a list of voicemail messages and choose which ones to retrieve first. The company also said Research in Motion Ltd. violated the same patent on certain BlackBerry Bold 9700 phones. Other BlackBerry models have licenses from Klausner. Both lawsuits were filed in a Texas federal court. In August, Klausner sued Cisco Systems Inc. and Avaya Inc. for infringement on a visual voicemail patent. Last year, Klausner settled with Apple Inc. and AT&T Inc. over the same issue. The company said it has 24 licensees. Research in Motion, based in Waterloo, Ontario, Canada, did not immediately return calls for comment, nor did Motorola. Shares of Motorola, based in Schaumburg, Ill., were up 14 cents to $8.52 in afternoon trading. Research in Motion was up 53 cents to $60.25. The rest is here: Motorola, Research in Motion sued over voicemail (AP)

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Skyworks Solutions (NasdaqGS: SWKS – News ) earlier reported revenues of $228.1 million in the fourth quarter of fiscal 2009, up 19% sequentially and surpassed management’s guidance range of $220 million – $225 million. {”s” : “alu,brcm,eric,intc,nok,si,swks”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Operating margin came in at 14.4% compared to 12.0% in the previous quarter. Earnings per share came in at 24 cents, easily beating the Zacks Consensus Estimate of 18 cents. During the quarter, the company retired $17.4 million in 2010 convertible bonds, which led to a dilution of the equity base by two million. Going forward, although the management remains cautious about the broader economy, it expects revenues to grow by 15% – 20% year over year driven by mobile Internet, energy management and diversified analog applications. Management indicated improved order visibility and strength in backlog at the end of the quarter. This implies a revenue guidance of $238 million – $242 million. Operating margin is forecasted around 20%. Earnings per share are expected around 25 cents. The company launched network infrastructure digital attenuators, voltage controller oscillators, synthesizers and mixers at Huawei, ZTE, Ericsson (NasdaqGS: ERIC – News ), Alcatel-Lucent (NYSE: ALU – News ) and Nokia-Siemens (NYSE: NOK – News )/(NYSE: SI – News ). Skyworks is well positioned to benefit from recent trends in the handset market, which are favorable to increasing dollar content for RF components. In general, the increasing complexity of higher-end phones that offer multi-band communication across various air standards are expanding the market for Skyworks’ products due to the need for backward compatibility from 3G to 2G networks. There is a significant growth opportunity in the handsets market, propelled by the launch of 3G in China. Another favorable trend is the continued shift towards multi-mode modules, which save board space in a handset, generating higher margins. The company has tie-ups with major OEMs that underscore the company’s success in gaining market share. The company is also making good progress in the linear business with WLAN wins at Intel (NasdaqGS: INTC – News ) and Broadcom (NasdaqGS: BRCM – News ). Headquartered in Woburn, Massachusetts, Skyworks Solutions designs, manufactures, and markets a broad range of high performance analog and mixed signal semiconductors that enable wireless connectivity. SKYWORKS SOLUTIONS INC (SWKS): Read the Full Research Report LM ERICSSON TELEPHONE CO ADS (ERIC): Read the Full Research Report ALCATEL-LUCENT (ALU): Read the Full Research Report SIEMENS A G (SI): Read the Full Research Report INTEL CP (INTC): Read the Full Research Report BROADCOM CP CL A (BRCM): Read the Full Research Report Zacks Investment Research     See the original post: Skyworks Beats Estimates (Zacks.com)

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