In its three days of trading, Facebook's stock has dropped 18 percent from its $38 issue price. For the thousands of investors that bought at the IPO, that's bad enough, but one analysis of its earnings prospects suggests it could get a lot worse - more like $10 a share.
Setting aside the hype and the cultural phenomenon that is the online networking site, Facebook Inc would be fairly priced at $9.59, according to the smattering of Wall Street estimates analyzed and modeled by Thomson Reuters StarMine.[MORE]
Barack Obama’s Arkansas primary problem
Two weeks after an imprisoned felon received 41 percent of the vote against President Obama in West Virginia’s presidential primary, Arkansas could provide another potential embarrassment for the incumbent.
That’s because only Obama and John Wolfe, a Tennessee lawyer, are on the Democratic presidential primary ballot in the Razorback State. (Wolfe took 12 percent — and nearly 18,000 votes — in a four-way fight in the Louisiana Democratic presidential primary in late March.) And a recent independent poll showed Obama running just seven points ahead of Wolfe in the southern Arkansas 4th district, which covers one-quarter of the state.[MORE]
SpaceX launches rocket to space station
SpaceX sent its Falcon 9 rocket and unmanned Dragon capsule soaring off a Cape Canaveral launch pad early Tuesday, heading for an historic rendezvous with the International Space Station.
The rocket lifted off into dark skies above the Space Coast at 3:44 a.m.
Some 11 minutes after launch, the solar arrays deployed on the Dragon spacecraft, prompting cheers and high-fives among SpaceX employees in the Hawthorne, Calif. mission control center. The solar array deployment had been considered the first big post-launch test.[MORE]
911 Dispatcher Caught Snoring on the Job
Calling 911. It’s the moment of your greatest need.
But instead of help, all you get is silence.
Just after midnight on April 4, a Montgomery County woman called 911 because her husband was having trouble breathing and was starting to turn blue.
Following protocol, a 911 call-taker answers and quickly transfers the woman to a dispatcher.
He was supposed to send an ambulance.
But in the 911 recording call obtained by the News4 I-Team, all you can hear is silence in response to the woman’s repeated hellos.[MORE]
Man Arrested for OWI with Zebra, Parrot in Front Seat of Truck
It sounds like the beginning of a joke. A man, a zebra, a parrot walk into a bar.
A Cascade man was arrested outside of a Dubuque bar on Sunday night with a pet zebra and a macaw parrot in the front seat of his truck.
Officers charged Jerald Reiter, 55, with OWI. Police reports say officers stopped him in the parking lot of the Dog House Lounge as he drove away in his truck. According to police, field sobriety tests showed Reiter had a blood alcohol level of .14. The legal limit in Iowa is .08. [MORE]
A US Airways jet traveling from Paris to North Carolina was diverted to Maine on Tuesday after a French passenger handed a note to a flight attendant mentioning that she had a surgically implanted device, raising security concerns, officials said.
An examination by doctors aboard the plane found that the passenger, a French citizen born in Cameroon, had no scars, said U.S. Rep. Peter King, who was briefed on the matter. The woman was traveling alone without any checked baggage and intended to stay in the U.S. for 10 days, he said.[MORE]
Third case of flesh-eating disease diagnosed in Ga.
There is now a third case of the flesh-eating bacteria in Georgia.
Robert Vaughn, 32, of Cartersville said he is not sure how he got the infection, but on May 3, the landscape business owner had just finished a project, and when he got back to the office.
"Just godawful pain in my groin area. It's hard to walk, hard to sit down, it just hurt, hurt all in my back," Vaughn said.[MORE]
Police: Group Staples Roommate’s Lips Shut, Tortures Him With Power Tool
A group of six is behind bars after police say they bound their 41-year-old roommate’s feet with tape, stapled his lips shut, and spent the night torturing him with a small power tool in their Utah home near Salt Lake City.
Police believe the suspects were suspicious about their new roommate, who told authorities he’d moved into the house in Magna a week and a half earlier and had agreed to remodel the basement in exchange for rent.[MORE]
Brad Pitt Back in Oscar Race with Witty, Bloody 'Killing Them Softly'
When did Brad Pitt become such a good actor? He nailed it in “Moneyball” and got an Oscar nomination. As Cogan, a literate hit man in Andrew Dominick’s “Killing Them Softly,” he’s magic, a real old fashioned leading man who’s integrated character actor choices into his repetoire.[MORE]
"Stolen" Dinosaur Skeleton Auctioned Off
An almost completely intact dinosaur skeleton of a close relative to the T-Rex was auctioned off in New York Sunday for $1.05 million, but a phone call from Mongolia's president during the bidding nearly put a stop to the sale.
Citing increased looting of dinosaur fossils from his country, which in Mongolia has been a criminal offense for 50 years, a lawyer for Mongolian President Elbegdorj Tsakhia persuaded a judge to issue a temporary restraining order to try to halt the sale of the tarbosaurus, New Scientist reported.[MORE]
CBO: Recession in 2013 unless Congress acts on fiscal issues
The nonpartisan Congressional Budget Office (CBO) said Tuesday that unless lawmakers act to prevent scheduled tax increases and spending cuts at the end of the year, a recession will likely result in early 2013.
Early next year income taxes are set to go up when the Bush-era tax rates expire. Automatic spending cuts totaling roughly $109 billion triggered by last August’s debt-ceiling deal are set to hit. Meanwhile, payments to physicians under Medicare will be slashed.[MORE]
Gridlock eases in many metro areas
Traffic congestion dropped 30% last year from 2010 in the USA's 100 largest metropolitan areas, driven largely by higher gas prices and a spotty economic recovery, according to a new study by a Washington-state firm that tracks traffic flows.
That was the largest drop since the nation plunged into recession in December 2007.[MORE]
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