TechFiends32 writes “After years of working with NASA to bring Internet connectivity to deep space, scientists state Vint Cerf’s efforts may be nearing completion. To combat the apparent challenges of extending the Internet into space (such as meteors and weighty, high-powered antennas), Cerf and others have made significant efforts, like adjusting satellite-based IP, and working on delay-tolerant networking (DTN) to address pure IP’s limitations in space. According to principal engineer at The Mitre Corp., Keith Scott, ‘The 2010 goal is designed to bring DTN to a adequate level of maturity to incorporate it into designs for robotic and human lunar exploration.’”

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RevWaldo contributes a link to an AP story carried by Google, according to which “The head of a prominent cancer research institute issued an unprecedented warning to his faculty and staff Wednesday: Limit cell phone use because of the possible risk of cancer. The warning from Dr. Ronald B. Herberman, director of the University of Pittsburgh Cancer Institute, is contrary to numerous studies that don’t find a link between cancer and cell phone use, and a public lack of worry by the U.S. Food and Drug Administration.” RevWaldo continues: “One possible solution offered? ‘Use a wireless headset.’ No risk of EM exposure from one of them, no sirree!”

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An anonymous reader writes “Former NASA astronaut and moon-walker Dr Edgar Mitchell — a veteran of the Apollo 14 mission — has stunningly claimed aliens exist. And he says extra-terrestrials have visited Earth on several occasions — but the alien contact has been repeatedly covered up by governments for six decades. Dr Mitchell, 77, said during a radio interview that sources at the space agency who had had contact with aliens described the beings as ‘little people who look strange to us.’”

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Ohio man gets 8 years in $8M armored-car co. heist - Miami Herald
AKRON, Ohio A man received eight years in prison Thursday for masterminding an $8 million armored-car heist, a crime he said was born of financial desperation. Roger Dillon, 23, of Youngstown, told the judge that the November heist was a stupid thing

Failed Sowood hedge fund manager raising new money - Reuters
BOSTON, July 24 (Reuters) - One year after Jeffrey Larson lost about $1.5 billion in one of the hedge fund industry’s most spectacular collapses, he is trying to raise fresh capital for a new fund, people familiar with his plans said. “Larson is back

College money under say program could get harder to obtain - Dallas Morning News
College money under state program could get harder to obtain 02:29 PM CDT on Thursday, July 24, 2008 By HOLLY K. HACKER / The Dallas Morning News

TABLE-U.S. M-2 money supply up $300 mln July 14 week - Reuters
July 24 (Reuters) - U.S. M-2 money supply rose by $300 million in the July 14 week to $7,698.2 billion, the Federal Reserve stated on Thursday. The Fed said the four-week moving average of M-2 was $7,691.8 billion vs. $7,690.7 billion in the previous

Ohio man gets 8 years in $8 million heist - MSN MoneyCentral
AKRON, Ohio (AP) - A man received eight years in prison Thursday for masterminding an $8 million armored-car heist, a crime he stated was born of financial desperation. Roger Dillon, 23, of Youngstown, told a federal judge that the heist was a stupid

CDC unveils new September11 site health effort - Reuters UK
WASHINGTON (Reuters) - U.S. health officials unveiled plans on Thursday to help people who lived or worked near New York’s World Trade Center who might have been harmed by exposure to dust and debris from the collapse in the 2001 attacks. Nearly seven

Police: Eatontown woman tried to pass fake money order - Asbury Park Press
Service money orders after they arrested a woman last week for trying to pass one at a check cashing establishment on Route 35. Christine Sanders, 46, of Wedgewood Circle, was arrested on Friday after a clerk at a check cashing establishment

Cubs May Set Record for Sale of U.S. Sports Franchise (Update1) - Bloomberg
July 24 (Bloomberg) — The Chicago Cubs might sell for more than $1 billion, which would be a record for a U.S. professional sports franchise, based on bids from five groups that Tribune Co. accepted in the first stage of negotiations. Tribune, the

DA: Stolen drug money at center of Marine murder - Chico Enterprise-Record
SANTA ANA, Calif.—Prosecutors say stolen drug money is the alleged motive behind the shooting death of a Camp Pendleton Marine by his comrades. Thursday’s announcement by prosecutors comes a day before Lance Cpl. Christian William Carney and Pfc

Get locked up and raise money - Gillette News Record
Some area business owners will get locked up for “good” on Wednesday. The Muscular Dystrophy Association of Wyoming will host its MDA Gillette Lock-Up benefit from 11 a.m. to 2 p.m. at Campbell County Fire Station No. 1. Participants will turn

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Filed under: Earnings reports, Products and services, Competitive strategy, Amazon.com (AMZN)

Disproving reports that its growth days are behind it, Amazon.com Inc. (NASDAQ: AMZN) this day reported quarterly results that far exceeded Wall Street estimates.

Net income at the No.1 e-tailer more than doubled to $158 million, or 37 cents a share, up from $78 million or 19 cents per share. Revenue jumped 41% to $4.06 billion. The New York Times noted that analysts had expected a 26 cent profit on sales of $3.96 billion. The results, though, were not good enough for Wall Street, and investors sent Amazon’s shares tumbling in after-hours trading.

One reason for the thumbs down might be that the company’s gross margins — always a concern with investors — contracted slightly. The company also maintained its revenue forecast for the current period. Maybe investors were expecting the company to boost earnings guidance as it benefits from shoppers bypassing malls and spending on gasoline in favor of shopping at home.

Skeptics, including me, have underestimated the company. Soleil Securities analyst Scott Tilghman told Bloomberg News that “There’s a misperception out there that e-commerce is much more mature than it actually is. They (Amazon) offer one-stop shopping and often better prices than bricks-and-mortar stores, which should offset any slowdown in consumer spending.”

Looks like he may have a point.

[July 24 UPDATE: Amazon shares soar after Chief Executive Jeff Bezos’ bullish comments. The shares were tiny changed at first until Bezos said on the earnings conference call that the company was benefiting from consumers avoiding driving to brick-and-mortar stores because of concerns about high gas prices. Shares are up over 15% by early afternoon Thursday.]

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Filed under: Products and services, Wal-Mart (WMT)

Not too long ago, I wrote about Wal-Mart Stores, Inc. (NYSE: WMT) and the entrance of the world’s largest retailer more heavily into locally-grown fresh produce. As a way of differentiating itself, Wal-Mart is really on the right track here. Partnering with local merchants near each community it serves could help repair the rift between small-town merchants and the retailing behemoth that has steadily grown for the last two decades.

The retailer might finally be heeding the advice of many critics. That is, when it does good, it needs to actively market and promote that effort as much as possible. Last week, one of the retailer’s locations in Manteca, California along with local growers, put the positive word out about how Wal-Mart is joining with the local merchants to ensure customers can buy produce with confidence. This is great — but Wal-Mart needs these “workshops” at every location where it has a significant and growing relationship with local food suppliers.

Tiffany Moffatt, Wal-Mart’s corporate affairs director for the western U.S. region, said that “In the (West Sacramento, Calif.) store, we carry more than 120 locally grown products .. our partnerships with local farmers have grown by 50% over the last two years.” This is great PR, and Wal-Mart needs even more of it moving forward. When you’ve local food suppliers describing Wal-Mart as a “a demanding but loyal customer,” then one has to guess that Wal-Mart is indeed sowing the seeds to forming new relationships with communities outside its rather boring big-box store presence. Alerting the buying public is the next phase in Wal-Mart’s efforts — and it can’t happen soon enough.

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Filed under: Deals, Products and services, XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Politics

Sirius Satellite Radio Inc.’s (NASDAQ: SIRI) $3.5 billion acquisition of rival XM Satellite Holdings Inc. (NASDAQ: XMSR) might at long last be approved by the Federal Communications Commission, according to the Wall Street Journal.

“Republican commissioner Deborah Taylor Tate is the only FCC member left to vote on the deal and she is expected to do so shortly, two FCC officials close to the negotiations said,” the paper said. “She is expected to sign off on the deal in exchange for a consent decree that resolves several enforcement issues involving the satellite radio companies and a combined fine of about $20 million, an FCC source close to the deal.”

Even with the regulatory hurdles just about cleared, the future of satellite radio is far from clear. As my colleague Douglas McIntyre noted earlier today, losses at both companies are narrowing but their subscription growth rates are slowing. Both firms also are more than $1 billion in debt.

Though I am a huge fan of the medium, I wonder sometimes whether its moment in the sun has past. Remember BetaMax and 8-track players were considered cutting edge at one time.

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Filed under: Major movement, International markets, Earnings reports, Good news, Products and services, Top Picks 2007, Chasing Value, Stocks to Buy, Intuitive Surgical Inc (ISRG), Technology, Best Stocks for 2008

My favorite company, Intuitive Surgical Inc. (NASDAQ: ISRG), the maker of the da Vinci Surgical System reported earnings Tuesday afternoon that creamed Street guesstimates by 10 cents per share. Intuitive posted earnings per share of $1.28 versus analyst consensus of $1.18.

For the 23rd quarter in a row, just like clockwork and without missing a beat, Intuitive’s top and bottom line growth simply ignored the global economy, blazing its own trail. I wonder how ISRG would have done if the economy was not in the dumps?

Overall, second quarter revenue shot up 56% from $142.2 million to $219.2 million. Instruments and accessories revenue increased 61% to $73.6 million from $45.8 million. Training revenue increased 44% to $29.4 million from $20.3 million during the second quarter of 2007.

Lonnie Smith, Chairman and CEO of Intuitive Surgical, said, “We are pleased with our second quarter revenue and earnings growth. These results reflect the continued adoption of the da Vinci Surgical System platform across a broadening group of surgical procedures.”

He should be a lot more than pleased; I am. Besides top and bottom line growth along all revenue streams, the company also ended the second quarter of 2008 with cash, cash equivalents and investments of $740 million, up $104 million from December 31, 2007.

I’ve recommended ISRG many times, but looking back to last July for some of my rationale would be worth a gander if you missed it: Intuitive Surgical jumps over 32% - where’s the ceiling? At the time, the stock was trading under $200 per share even after the big increase.

I still think this stock belongs on your watch list and that there’s no reason why it will not double in size in the next few years. I’ve no timetable but I don’t see anything getting in its way. Of course, that is possible, but it seems to hold all of the patents and have the scale, experience and partnerships to hold the court for a long time.

Before the earnings report ISRG closed at $280.23. Afterwards, in extended hours trading, it was changing hands at $332.77 a share. It opened today at $313.495 and traded 16% higher at around $325 by 9:52 am. After Market Update: Closing price $331.13, +$50.90 (+18.16%)

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. DISCLOSURE: I currently own shares of ISRG.

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Filed under: After the bell, Earnings reports, Forecasts, Products and services, Amazon.com (AMZN)

The week got off to a shaky start in the wake of several earnings disappointments, thus a lot of attention will be paid to Amazon (NASDQ: AMZN) when it reports its second quarter numbers this afternoon after the market closes.

Analysts are looking to see Amazon show earnings of 26 cents per share, and revenue of $3.96 billion. The last time that the company reported earnings was April 23, when be itat analysts’ estimates by 2 pennies, with a reported 34 cents per share for its first quarter.

It has definitely been a tough couple of months for retailers, but we could see some strength in Amazon as a result of changes it made during the quarter which allows users to shop the store from their cell phones via its new service TextBuyIt.

Analyst forecasts:

Shawn Milne, an analyst with Oppenheimer & Co. , is optimistic regarding this afternoon’s earnings release, and has told his clients that he is looking to see a solid quarter from the company, and anticipates strong international growth to create upside in the quarter. While he’s overall positive on the company, he did go so far as to warn that there’s the potential for a tough quarter for the company’s North American business, stemming from an overall reduction in spending.

Scott Devitt, an analyst with Stifel Nicolaus & Co., is also expecting to see a good quarter, and has predicted that the company is going to match on its revenues estimates and report earnings that are a penny higher than the 26 cents that Wall Street is expecting.

If history is able to repeat itself, we should see a decent quarter from the company. Amazon has been able to match or exceed analysts’ estimates for the last 8 straight quarters, with the last miss coming back in July of 2006.
What are you anticipating to see from Amazon this afternoon? Will the company be able to overcome the slowing American economy and put up another strong set of numbers, or will wee see the effect of consumer spending hitting the company’s bottom line? Let us hear your thoughts.

Michael Fowlkes has worked as a stock trader for seven years and spent the last four years working as an analyst for the on the internet investment advisory service Investor’s Observer.

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Filed under: Products and services, Middle East, Politics, Presidential elections, Commodities, Oil

Republicans and my colleague Aaron Katsman are trying to blame Democrat Barack Obama for rising gas prices. This is election-year politics at its worst.

For one thing, as the Washington Post and other independent observers note, drilling for more oil will do tiny to alleviate the pain U.S. drivers are feeling at the pump. The available supplies are probably not going to make much of a dent in our never-ending thirst for the black gold. Remember, the oil may not be as simple to get or cheap to process.

“Drilling off the coasts would increase U.S. oil production but have no short-term impact on gas prices,” the Post states. “While some analysts disagree, an Energy Department report last year said production wouldn’t start until 2017 and have no ’significant’ effect on prices or supplies until 2030.”

An even more ridiculous idea floated by Republican John McCain is the so-called gas tax holiday, which has been roundly denounced by economists and Obama as a perilous economic gimmick. Experts estimate that it would save the average consumer a whopping $30.

There’s plenty of blame to go around for high gas prices.

Oil markets are spooked by the war in Iraq and a potential war with Iran. Remember how Iraq’s oil was supposed to pay the costs of our military? It has not happened yet. We also haven’t built a new refinery in the U.S. in decades. Speculators are bolstering prices though not to the extent some politicians suggest.

Corporate Average Fuel Economy (CAFE) standards are also a joke. “It was only last December that Congress approved new mileage standards, the first in 32 years,” wrote Joseph Wheelan in the Atlanta Journal-Constitution. “If they stand, the present fleet standard of 27.5 mpg will rise to 35 mpg — but not until 2020.”

The problem is that we want more gasoline than the oil companies can deliver. The problem is that simple and that complicated.

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