LITTLE ROCK, Ark. (AP) — Arkansas’ governor said Friday that he sees no reason for anything beyond a routine review of the state’s execution procedures after a condemned inmate lurched and convulsed 20 times during a lethal injection that involved a controversial sedative.
Category Archive: Golf
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A 6.8-magnitude earthquake struck off the Philippines early Saturday, triggering a tsunami warning that was later lifted, Philippine and US authorities said. There were no immediate reports of casualties or damage from the quake, which shook the south…
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By Jack Kim and Michelle Nichols SEOUL/UNITED NATIONS (Reuters) – North Korea unsuccessfully test-fired a ballistic missile on Saturday from a region north of its capital, Pyongyang, South Korea’s military said, defying intense pressure from the Unite…
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(Reuters) – The U.S. Food and Drug Administration on Friday approved Radius Health Inc’s drug to treat osteoporosis in postmenopausal women at high risk of fracture or those who have failed other therapies. The drug, which was approved earlier than expected, will compete with Eli Lilly & Co’s Forteo and Amgen Inc’s Prolia. “This approval transforms Radius into a commercial-stage company,” said Jessica Fye, an analyst with J.P. Morgan in a research note.
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Another day, another analyst shouting BUY BUY BUY on Apple’s stock, based on the upcoming iPhone 8 launch. This week, Credit Suisse analyst Kulbinder Garcha raised his estimate for the firm’s stock price to $170, based on his belief that “pent-up demand” for a new iPhone will create a “supercycle” of upgrades, sending Apple’s profits into the stratosphere and investors into a tizzy.
No-one’s denying that Apple is going to make a dumpster-truck of money on the iPhone 8, and will continue being the world’s greatest smartphone company, etcetera. But the size of the iPhone 8 launch, and the company’s current valuation, is still being blown way out of proportion.
Cast your mind back to November 2016: a simpler time, when we didn’t know Donald Trump would be President, and Apple’s stock was trading at $104. Today, it’s at $143, and supposed to go to $170. Between then and now, the only significant thing that’s changed is a bunch of rumors about the upcoming iPhone 8 launch. But somehow, based on that, Apple’s perceived value has risen by over $250 billion and counting.
Sure, Apple’s services sectors are doing well, and Trump’s tax plans could be more friendly to Apple. But analysts still seem to be betting that the iPhone 8 will create at least $100 billion in extra value over a “boring” iPhone launch.
Let’s put that in perspective. The iPhone 6 and 6 Plus launch, the last major iPhone refresh, saw Apple sell 300,000 more iPhones than the year before. During Q4 2016, the quarter in which Apple launched the iPhone 7, Apple collected $11 billion in net income.
If the analyst’s prediction is right and Apple’s stock rises to $170, that puts Apple’s market cap at nearly $900 billion. It was $585 billion in November 2016, which means that between November last year and the iPhone 8 launch, Apple will be $300 billion more valuable.
So, the conclusion is one of these:
- Pre-November last year, analysts and the stock market were undervaluing Apple by hundreds of billions of dollars, or;
- The iPhone 8 and more iTunes sales are going to create $300 billion in extra value, or;
- The current valuation of Apple is insane and based on gut feel and hype, rather than a sane economic valuation of the company.
To be clear, I still think that Apple’s stock is going to go up when the iPhone 8 launches, and the company will remain in rude health for years. But a stock price and a market valuation isn’t meant to be an arbitrary number that goes up and down, based on on quarterly results: it’s meant to represent the value of a company, taking into account current assets, profits, and future perspectives. Unless Apple’s entire future has got 60% better in the last year, analysts are guessing, rather than analyzing anything.
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Too much homework is the worst. Luckily for this 10-year-old girl, her mother has her back.
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It didn’t take long for the controversial new editorial writer a the
New York Times to deliver the goods — the goods in this case being tired and weak excuses for why mainstream media publications should give credence to climate change deniers. On Friday afternoon, the
Times published the first column from Bret Stephens, in which he argues “ordinary citizens also have a right to be skeptical of an overweening scientism” in relation to climate change. SEE ALSO: We’re about to test out hacking the Earth’s climate. That should scare and inspire you. While the
Times doesn’t seem to have any writers extolling the flat earth theory or delving into the issues around chemtrails, it saw fit to recently hire Stephens, a noted conservative writer, best known in the science community for his climate change denial. He didn’t waste any time. And the
Times clearly saw an opportunity, finding it necessary not just to publish the column but also send a push alert about it. NYT edit board has cited “rock-solid scientific consensus” for “swift action” on climate change https://t.co/IQH8HWXBBs Latest NYT alert pic.twitter.com/DVaSeTnGZn — Michael Calderone (@mlcalderone) April 28, 2017 The column extolls the virtues of skepticism in the face of certainty, leading off by pointing out that a lot of people were sure that Hillary Clinton would beat Donald Trump. Yes, the new conservative writer started off by trolling his audience while also constructing a laughable straw man argument. In Stephens’s world, “data” is all the same and anyone who can add together numbers is a scientist who should be taken with a grain of salt. The push alert in particular rubbed people the wrong way. HeyHey guysHello friends are you listening?Hey[walks around poking everyone] Ok now that I have your attentionWe hired a new doofus! pic.twitter.com/GkSUYQCprH — southpaw (@nycsouthpaw) April 28, 2017 Reasonable people can disable push notifications, @nytimes. pic.twitter.com/ink9bHiNxm — Andisheh Nouraee (@andishehnouraee) April 28, 2017 The column comes just as the
Times builds up a climate reporting team. “As the earth’s temperature continues to break records, climate and environmental reporting is taking on new urgency,” the company wrote on a very pretty page touting the open jobs on its team. Image: New york times/screenshotThe column also comes one week after March for Science and one day before the People’s March for Climate. Stephens was theoretically hired to bring “balance” to the
NYT‘s pages, with some feeling the publication had skewed too far to the “left.” Others have pointed out that this kind of “balance” tends to be a fool’s errand, particularly as other kinds of “balance” are ignored. Think of never having hired a woman of color as a columnist but feeling like putting this on your page is progress pic.twitter.com/QYMx3wD1Ii — Jack Mirkinson (@jackmirkinson) April 28, 2017 We can only feel sympathetic for the science editors at the
Times, one of whom decided the best defense is a good offense. It is, admittedly, a good burn. Congrats to all the tweet aggregators who will make very viral content out of all this. — Michael Roston (@michaelroston) April 28, 2017 WATCH: This NYU student went undercover as a worker in a Chinese iPhone factory
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Two US special operations forces soldiers killed in eastern Afghanistan may have been struck by friendly fire in an operation targeting the emir of Islamic State militants in Afghanistan, the Pentagon has said. Pentagon spokesman Captain Jeff Davis told reporters that the military was investigating whether the two troops may have been killed by ground fire, either by American forces or Afghan commandos taking part in the raid, though it appeared to be accidental. “We are investigating the circumstances of the combat deaths of the two Army Rangers in the beginning of what was an intense three-hour firefight,” Davis said.
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Pope Francis pleaded for peace in a visit to Egypt on Friday as he attended a service in solidarity with the embattled Coptic minority at a church bombed by the Islamic State group. Last December, the Saint Peter and Saint Paul church was itself targe…
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As Trump’s first one hundred days in office come to a close, Americans are reflecting on what the president and his administration have been able to accomplish since stepping into the White House. To call these first hundred days tumultuous would be an understatement, as Trump’s attempt to repeal and replace Obamacare collapsed before it was even voted on and tensions with North Korea, Russia and even Canada have ratcheted up considerably. What does Trump think of all this?
“I loved my previous life. I had so many things going,” Trump told Reuters in an interview this week. “This is more work than in my previous life. I thought it would be easier.”
A shockingly candid admission from a man who willingly ran for the office of president, but not an especially surprising one, all things considered. Trump told his base that he would run the country like a business, but the American government doesn’t operate like a business. Coming to an agreement with hundreds of representatives and senators is a world away from closing a real estate deal.
But as difficult as the fight over healthcare, tax reform and foreign policy have proven to be, Trump still appears to be more concerned with proving to the American people how popular he really is, despite the polls. In the middle of a discussion about Chinese President Xi Jinping, Reuters says that Trump paused to pass out “copies of what he said were the latest figures from the 2016 electoral map.”
Why on earth a group of reporters would want to see an “updated” electoral map of an election that was decided nearly six months ago is beyond me, but Trump’s insecurity knows no bounds.
Following the “clarification” regarding the 2016 electoral map, Trump told the reporters that he is still warming up to the fact that he has to have 24-hour protection from the Secret Service. As a public figure (and one who appreciated attention), he never had much privacy in the first place, but now he says he’s in his “own little cocoon,” and that he “really can’t go anywhere” with all the protection.
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US and Afghan troops likely killed the leader of the Islamic State group’s Afghanistan affiliate in a raid this week, the Pentagon said Friday. US officials also said they have opened a probe into whether two US Army Rangers killed in the assault had …
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