4:20 pm : This afternoon, the market broke out of the morning's tight trading range and steadily declined. Just before the bell, the blue chip averages recovered from their lows, but the market essentially remained in a holding pattern ahead of Fed Chairman Ben Bernanke's impending testimony before Congress on Wednesday. Uncertainty over Fed policy continues to hang over the market, and participants are anxious to gain some insight on the new Chief's view of inflation trends and the implications for Fed policy.
Selling was wide-spread and spared none of the ten economic
Winter Fruit Forecast Adding pomegranates to your fruit bowl may protect your health on several fronts.
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General Health Tip
Grab-and-Go Breakfast. The key to any healthy grab-and-go meal is a balance of protein, fat and carbs. For a quick and easy breakfast, stuff half a whole-wheat pita with cottage cheese and sliced peaches or pears.
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JESSICA'S DIVA DEMANDS
Jessica Simpson, 25, likes to act clueless, but she can swing her celebrity weight like a pro. According to a studio source, weeks before the press tour for The Dukes of Hazzard began, "we were bombarded with a six-page pamphlet of demands for Jessica from the office of her dad, Joe Simpson." Among Jessica's requests: paid accommodations for her hairstylist and assistant in the same hotel as Jessica; a wardrobe budget estimated in the thousands of dollars; cases of Evian water; and paid private... •JEN FREAKS OVER ANGELINA'S NEW BABY •JULIA STILES, GWYNETH PALTROW AND MORE!
Cheney Apparently Breaks Key Hunting Rule The U.S. Post Office in Armstrong, Texas, is shown Monday, Feb. 13, 2006, with the Armstrong Ranch behind it. Vice President Dick Cheney accidentally shot Austin attorney and fellow hunter Harry Whittington at the ranch Saturday, Feb. 11. The gate at left leads to the ranch and is locked. (AP Photo/Paul Iverson)
2:33 pm PT Market Wrap : This afternoon, the market broke out of the morning's tight trading range and steadily declined. Just before the bell, the blue chip averages recovered from their lows, but the market essentially remained uneasy ahead of Fed Chairman Ben Bernanke's impending testimony before Congress on Wednesday. Uncertainty over Fed policy continues to hang over the market, and participants are anxious to gain some insight on the new Chief's view of inflation trends and the implications for Fed policy.
2:14 pm PT Lexar Media guides for a loss in Q4, delays Q4 earnings call to Mar 6 (LEXR) 6.40 -0.05 : LEXR sees Q4 EPS of -$0.21 to -0.26 vs $0.04 Reuters consensus; sees revs of $240-245 mln vs $225.99 mln Reuters consensus. The co attributes the loss expected for the fourth quarter primarily to higher cost of goods sold. Cost of goods sold were impacted by a lower than anticipated sell through of higher margin products which remained in the channel at December 31, 2005; inventory reserves booked in the quarter as a result of the co's response to competitive pricing pressures in the first quarter of 2006; and reserves taken against inventory for slow moving and obsolete products due to changes in market demand and marketing strategy. The�co does not intend to hold a conference call regarding the preliminary results. To facilitate the completion of the co's accounting analysis of inventory and other reserves, the conference call previously scheduled to discuss the outcome for the fourth fiscal quarter and full year following the release of its quarterly financial results on February 16, 2006 will now be held on Monday, March 6, 2006 at 2:00 p.m.
2:02 pm PT HOKU Scientific lowers Q4 rev guidance to $1.4 mln, consensus is for $1.8 mln; updates status of contract with the U.S. Navy (HOKU) 8.55 -0.14 : "We are working with the U.S. Navy to finalize the demonstration site selection, preparation and logistics, which is taking longer than we had previously anticipated. In addition, although we have achieved all of our initial Navy contract milestones on time, including the successful demonstration of our Hoku MEA in the IdaTech fuel cell stack and system generating in excess of 1-kilowatt of electrical power in December 2005, we have not yet run an IdaTech fuel cell stack incorporating our Hoku MEA for a prolonged period of time. As we previously announced, this fuel cell demonstration program is our first opportunity to publicly demonstrate Hoku MEA in full-size fuel cell systems operating under real-world conditions." As a result of the delay in the commencement of the Navy demonstration system installations, Hoku is revising its revenue guidance for the fourth quarter ending March 31, 2006, to $1.4 mln (consensus $1.8 mln, prior guidance was for $1.7-$2.0 mln). Fluctuations in quarterly revenue are expected to continue in future periods due to uncertainty regarding the level and the timing of revenue from customer contracts and achievement of contract milestones.
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