Quantcast
Channel: News
Viewing all 62489 articles
Browse latest View live

Stock market rises, focusing more on economy, less on Fed chatter

$
0
0

4 reports showed a brightening U.S. economy. Housing and manufacturing continued to improve, and consumer confidence hit its highest level in 5½ years.

By CHRISTINA REXRODE
AP Business Writer

NEW YORK — Wall Street got back to focusing on the economy instead of the Federal Reserve on Tuesday, sending stocks higher.

Four reports showed a brightening U.S. economy. Housing and manufacturing continued to improve, and consumer confidence hit its highest level in 5½ years.

The major U.S. stock indexes closed higher. The Dow Jones industrial average shot up 100.75 points, or 0.7 percent, to 14,760.31. The Standard & Poor's index rose 14.94 points, or 1 percent, to 1,588.03. The Nasdaq composite climbed 27 points, 0.8 percent, to 3,347.89.

The triple-digit rise in the Dow continues a bout of market volatility caused by investors and traders who are worried about the Fed ending its economic stimulus. Last Wednesday, Fed Chairman Ben Bernanke said he expects the Fed to end its bond buying by the middle of 2014 if it feels the economy can manage without that stimulus.

The Dow then plunged by triple digits on three of the next four trading days, with investors worried that the market would struggle without the Fed propping it up.

Some investors concluded that the recent sell-offs were overblown.

"This is the day where the dust appears to be settling," said Jonathan Lewis, chief investment officer at Samson Capital Advisors in New York.

Quincy Krosby, a market strategist at Prudential Financial, guessed that shorter-term traders bought stocks Tuesday because they judged that parts of the market were "oversold."

Among the biggest gainers were big dividend payers like phone and power companies. These are stocks that have been hit the hardest by the recent sell-off.

Long-term investors were likely still sitting on the sidelines, waiting for further signs that markets are becoming less volatile, Krosby said.

The stronger economic news for the U.S. led investors to sell U.S. government bonds, a sign that they're more comfortable putting money in stocks. The yield on the 10-year Treasury note, a benchmark for many types of loans, rose to 2.6 percent from 2.54 percent late Monday.

The big economic reports Tuesday revealed.

—Orders for durable goods rose 3.6 percent in May, matching April's gain. The gauge is important because U.S. manufacturing has generally struggled this year as demand for American exports slows in other parts of the world.

— U.S. home prices jumped 12.1 percent in April compared with a year ago, according to the Standard & Poor's/Case-Shiller 20-city home price index. That was the biggest year-over-year gain since March 2006. For a fourth straight month, prices rose from a year earlier in all 20 cities in the index. Twelve cities posted double-digit price gains.

— The Conference Board's consumer confidence index jumped to 81.4 in June, the best reading since January 2008. The May reading, however, was revised down to 74.3 from the original estimate of 76.2.

— Sales of new homes rose in May to a seasonally adjusted annual rate of 476,000, the Commerce Department said. That was the fastest pace since July 2008. Though sales of new homes remain below the 700,000 annual rate that most economists consider healthy, the pace has jumped 29 percent from a year ago.

Chris Baggini, senior portfolio manager at Turner Investments in Berwyn, Penn., said investors had used Bernanke's statements last week as an excuse to get out of the market — something they wanted to do anyway, given its steady run-up for most of the year.

The S&P 500 is up 11 percent for the year. But at its peak last month, it was up 17 percent.

Among stocks making big moves:

— Walgreen, the nation's largest drugstore chain, slipped after reporting earnings and revenue that missed analysts' expectations. Walgreen's stock fell $2.83, or nearly 6 percent, to $45.22.

— Barnes & Noble plunged after reporting a loss that more than doubled in the latest quarter. The bookseller struggled to compete with online retailers and its Nook e-book continued to lose money. The stock fell $3.21, or more than 17 percent, to $15.61.

— Clothing chain Men's Wearhouse rose after saying it had fired executive chairman George Zimmer, the company's founder and star of its TV commercials, because he had advocated for "significant changes that would enable him to regain control," according to the company. The stock rose $2, or nearly 6 percent, to $37.13.

AP Business Writer Steve Rothwell contributed



Republican Gabriel Gomez concedes defeat to Ed Markey in Massachusetts special U.S. Senate election

$
0
0

Although the campaign staff of Republican U.S. Senate hopeful Gabriel Gomez knew it was an uphill battle to defeat longtime politician Ed Markey, as the election was called in the Democrat's favor Tuesday night, disappointment permeated what was to be Gomez's celebratory gathering at the Seaport Hotel in Boston.

BOSTON — Although the campaign staff of Republican U.S. Senate hopeful Gabriel Gomez knew it was an uphill battle to defeat longtime politician Edward Markey, as the election was called in the Democrat's favor Tuesday night, disappointment permeated what was to be Gomez's celebratory gathering at the Seaport Hotel.

Among a group of supporters and journalists, Gomez took to the blue and red-lit stage to acknowledge defeat after making the customary call to congratulate Markey as the race's victor. As Gomez took the stage, emotional supporters surrounded him, cheering and applauding wildly. And although he lost the election, he didn't speak as though he was defeated.

"I just got to say, thank you. We've reached the end of this campaign tonight and I respect the decision of the voters of Massachusetts. I wish (Markey) nothing but the best as the next senator from the commonwealth of Massachusetts," Gomez said. "Throughout this campaign I've been humbled by the thousands of people I've met. Nobody knew who I was outside of Cohasset ... but look at us now."

Gomez took time to specifically thank his wife Sarah and his daughters for weathering the tough campaign alongside him. He also pointed out the contributions of his friends, colleagues and his campaign staff, saying that he is "honored and humbled" that the Gomez for Massachusetts movement grew to involve thousands of people.

"To all the great veterans of this commonwealth, I apologize for coming up short on this mission. You're the ones who deserve better. You make this country special and I couldn't be more proud to be one of your brothers," Gomez said. "I set out on this campaign for one reason – to serve. The principles that bind us together are noble and are worth fighting for every day of our lives."

Gomez went on to point out the fact that Markey's campaign was significantly larger and had much more cash to spend than his, and likened the battle to his military experience.

"In the military you learn that not every fight's a fair fight. Sometimes you face overpowering force. We were massively overspent," Gomez said. "We went up against the whole national Democratic Party, its allies and the machine. But in the face of that adversity, we could not have fought a better fight. And I couldn't be more proud. In the face of defeat, you outta be able to look yourself in the mirror and know we fought with honor and integrity."

After John Kerry was confirmed as secretary of state by the U.S. Senate, Gomez was one of the first Republicans to officially announce his candidacy in the election to fill the remainder of Kerry's Senate term. A newcomer to politics and relative unknown in the Bay State, Gomez announced his intention to run back in February, introducing himself to a politically weary Massachusetts electorate as a "new Republican."

In a campaign kickoff that brought the former Navy SEAL from Cohasset to West Springfield, Gomez began to detail his views that, with some exceptions, aredescribed as socially liberal and fiscally conservative.

“When you run for office, political people, they immediately try to hang labels on you,” Gomez said in one of his first public speeches. “They ask you … are you a conservative? Are you a liberal? Are you a moderate? Well, my response is this: No. I’m a Navy man. I am a businessman. I am a father. I am a husband. I am an American.”

And he stuck to that script throughout the election's conclusion. Gomez's personal story as a military man, a family man and a businessman were among his top selling points on the campaign trail as internal polling showed the messages resonated with voters in Massachusetts.

In a series of fiery debates ahead of his Republican primary win, Gomez played it cool and let state Rep. Daniel Winslow, R-Norfolk, and former U.S. Attorney Michael Sullivan openly attack each other. And he wasn't shy about leading the conversation back to how he is the son of Colombian immigrants who grew to become a successful millionaire and a Navy SEAL who once trained anti-drug units in South America.

While Markey boasted support from big-name Democrats to boost his campaign, Gomez relied on the National Republican Senatorial Committee and people like Senate Minority Leader Mitch McConnell, R-Ky., to fundraise for him. Due mostly to the commonwealth's liberal lean, he avoided campaigning with well-known Republicans except for U.S. Sen. John McCain, R-Ariz. Despite moving further to the right in his failed 2008 presidential campaign, McCain remains popular with independent voters, the largest voting bloc in Massachusetts.

And although Gomez didn't make the mistake of publicly aligning himself with a politician too conservative for the tastes of the Massachusetts masses, his campaign was not without its missteps.

While it was learned early on that Gomez had served as a spokesman for a group that had charged President Barack Obama was capitalizing politically off of military operations like the killing of al Qaeda leader Osama bin Laden, another revelation had the potential to hurt him with his conservative base. When he released a letter that was sent to Gov. Deval Patrick asking for an executive appointment following Kerry's confirmation of secretary of state, it included flattering statements about Obama and made some question his conservative credentials.

But despite the minor flap, his veteran campaign team, many of whom worked to get former Massachusetts Gov. Mitt Romney elected president just months earlier, kept the political newcomer protected.

Both Gomez and Markey made an active effort to reach out to Latino voters across the state including in Western Massachusetts, where they made public stops in Springfield's North End. While Markey had an official Latino engagement group working for him over the past several months, a few weeks back Gomez announced he was launching one of his own.

Gomez's pitch to the Latino community had a mixed reception. While some Latinos, such as Springfield city councilor Zaida Luna, openly supported Markey, others, such as the editorial board of El Pueblo Latino, the Western Massachusetts Spanish language weekly newspaper, endorsed Gomez.

Every non-partisan poll released since the April 30 primary showed Markey holding a lead over Gomez, although the margin by which the longtime congressman was winning varied. The hope for Republicans and fear from Democrats was always that Gomez would pull out a last-minute upset victory like former U.S. Sen. Scott Brown did in 2010 following the death of longtime Democratic Sen. Ted Kennedy.

But in the end, the Democratic machine's grassroots effort that helped turn Harvard Law School professor Elizabeth Warren into a superstar U.S. Senator just seven months prior propelled Markey to a sweeping victory.

But just as Brown's 2012 defeat paved the way for other opportunities, a similar next chapter is a possibility for Gomez. Should the political newbie decide to run for office again, his name recognition will instantly be higher than when he started this campaign as a relative unknown.

And as Brown and so many before him have learned, there are plenty of six-figure salary consulting gigs in the Bay State for well-connected politicos.

And as the national Republican Party tries to re-brand itself following the sweeping losses of the 2012 elections, perhaps Gomez will reemerge in another role.

Regardless of where the road takes the private equity investor, Sen.-elect Markey will almost instantly have to begin preparing to defend his newly won seat – the remainder of Kerry's term expires in 2014.


West Springfield drowning victim identified as Wilfredo Domes-Guzman of Holyoke

$
0
0

The section of the river where the drowning occurred is commonly used as a swimming hole even though it has tricky currents when the river is high.


This is an update of a story originally posted at 3:18 p.m. Tuesday

WEST SPRINGFIELD - The man who drowned Tuesday in a section of the Westfield River in West Springfield has been identified as Wilfredo Domes-Guzman of Holyoke.

Domes-Guzman, 24, of East White Street, Holyoke, was pronounced dead at Baystate Medical Center in Springfield, said West Springfield police Capt. Daniel Spaulding.

Three other people were taken to the hospital for treatment following the 2 p.m. accident, Spaulding said. They were being treated for exhaustion and minor injuries associated with fighting the current, but none is believed to be in life-threatening condition, he said.

Domes-Guzman was swimming with friends in a section of the river off West Park Street when he was apparently got caught in the current and pulled under, Spaulding said.

There were two groups of people in the river and people tried to rescue him before police and fire fighters could arrive, he said.

Spaulding said police are still interviewing witnesses and the incident remains under investigation, but the preliminary assessment is Domes-Guzman died of an accidental drowning.

The spot, located behind the Diamond Gold Connection, is commonly used for swimming. Spaulding said there have been previous cases of drowning there, most recently a 23-year-old Springfield woman on June 22, 2012.

The section of river seems calm close to the shore, but further out the currents can be tricky, especially if the river is high because of rain as it was on Tuesday, he said.

Spaulding said the police will examine additional patrols of the area in hot weather, and the town has to research if police have legal grounds to ask people to move along, he said.

To access the river, people have to cross the railroad tracks which could be grounds for trespassing, he said.

View Larger Map

James Lynch, Andrea Mastalerz beat incumbent Maureen Gallagher in race for 2 Palmer School Committee seats

$
0
0

All four charter amendments also passed, according to Town Clerk Susan M. Coache.

PALMER - Retired police officer James J. Lynch III and kindergarten teacher Andrea K. Mastalerz were elected to the School Committee, ousting longtime School Committee chairwoman Maureen R. Gallagher in Tuesday's election.

All four charter amendments also passed, according to Town Clerk Susan M. Coache.

Lynch, 67, was the top vote-getter with 1,342 votes, followed by Mastalerz with 1,130 votes. Gallagher, a School Committee member for 18 years, got 809 votes. The School Committee positions are for three years.

Lynch said he did not expect to get the most votes, but is happy and excited to start a new venture. He retired two years ago after working for the Police Department for 36 years.

"I want to thank the voters and I look forward to working with the other board members," Lynch said.

Mastalerz, 45, who teaches at Cold Spring School in Belchertown, will step in where her father James L. St. Amand left off. St. Amand did not seek reelection, creating a vacancy on the committee.

Mastalerz also thanked the voters, and her opponents for running a good race. She also thanked Gallagher for her many years of service.

"I'm ready for the challenge," Mastalerz said.

Mastalerz said her father is her mentor, and she respects his opinion and while he will be a good resource, she will make her own decisions as a committee member.

Gallagher, 59, said she was shocked by the results, and thinks voters may have confused Lynch with current School Committee member David Lynch. They are not related.

Gallagher said the "people have spoken and let's see what the two new people can do on the board." Gallagher said she was proud of her record, and noted she helped get the schools extra funding for next fiscal year.

"I have no regrets," Gallagher said. "Just because I lost this doesn't mean you won't see me again."

Coache said 22 percent of the town's 8,210 registered voters cast ballots. In the U.S. Senate race, voters gave Gabriel Gomez 1,243 votes over Edward Markey's 927 votes. Markey ended up winning the race, however.

As for the charter amendments, question 1, which appointed the town manager to the library's governing board, passed 1,434 to 494. Question 2, which reduced the quorum of the seven-member Town Council from five to four, passed 1,480 to 433; question 3, which changed the posting requirements for Town Council agendas, passed 1,893 to 83; and question 4, which simplified the town manager's appointment process, passed 1,297 to 630.

Coache said the voter turnout was higher than she expected, a sentiment echoed by poll workers at Converse Middle School, where precincts 2 and 3 voted.

Precinct 3 clerk Richard Laviolette said he thought the local election was what was bringing the voters out.

Teresa H. Abbate and Charles F. Abbate voted for Mastalerz for School Committee. The Abbates voted at Converse.

"(Mastalerz is) a teacher in another school system. Her children have gone through Palmer schools and she's well-informed. I think she has a lot of different perspectives to bring to the position and a lot of energy," said Teresa Abbate, a former Palmer middle school teacher.

Karl S. Williams voted for Lynch for School Committee, calling him a "straight shooter."

"I just like the man," Williams said.

Williams said he agreed with the charter changes.

Joseph Mastalerz Jr., who was working the ballot box for precinct 2, said voters were confused by the charter questions and many people were leaving them blank.

Robert E. Peritz Sr. said he voted for the majority of charter amendments except for the quorum change.

"I figure if you're elected to the board, you should show up to the meetings," Peritz said.

Mount Tom Power Station in Holyoke has no plan to close, official says

$
0
0

The plant's plan to go off line in 2016 doesn't necessarily mean it won't burn coal that year and doesn't signal closure, a spokesman said.

coal.jpgHolyoke's Mount Tom Power Station received 7,500 tons of this stuff -- coal -- this week. 

HOLYOKE -- Seventy-five rail cars of coal were delivered to the Mount Tom Power Station this week in a sign the plant isn't planning to shut down, a spokesman said Tuesday.

"I know some people have been misinterpreting that we're going to close because we're going to go off-line in 2016, and that's not entirely true," said Charles B. Burnham, manager of government and regulatory affairs with plant-owner GDF Suez Energy North America/FirstLight Power Resources, of Glastonbury, Conn.

The plant on Route 5 received 7,500 tons of coal by train and plans are for burning to be done in the winter, if not sooner, he said. The plant is beside the Connecticut River in the northernmost part of the city.

"We don't have any plan to shut down," Burnham said.

"Once you buy that much coal, it just makes sense to use it," he said.

This comes as meetings have been held here, including one May 30, in which groups such as Neighbor to Neighbor and city and state officials have discussed what to do with the site when the plan closes.

Such discussion has been prompted by months of sporadic operation of the plant and a March announcement from GDF Suez that it would "de-list" the plant for 2016. That means that ISO New England accepted a “dynamic de-list bid” from GDF Suez and the plant won't be expected to provide power or receive any payments from the Forward Capacity Market. But it could still run if operators chose to do so.

The Holyoke-based ISO New England is the region's power-grid operator.

The Forward Capacity Market is the annual process under which ISO New England projects how much electricity will be needed to power the region three years in advance and then conducts an auction to purchase resources that will meet that demand. Electrical suppliers that are selected in the auction are then required to provide power or curtail demand when called upon by ISO New England.

Neighbor to Neighbor's Lena Entin said taking the step to "de-list" a plant is hard to misinterpret.

"That's usually a red flag for retirement," Entin said.

Concerns have been raised about respiratory and other health problems from coal-burning plants, although Burnham said the plant meets all state and federal emission standards. The plant employs 25 people, including 17 members of Local 455, International Brotherhood of Electrical Workers.

"We're eager to work with Mount Tom on the process," Entin said. "We'd like to see something cleaner there. We'd like to help the workers. We'd like to see something cleaner than coal."

Write-in candidate wins Greenfeld School Committee seat

$
0
0

Donna Gleason, who is retiring as principal of Four Corners Elementary School, announced her candidacy a little more than a week ago and was not on the ballot.

Greenfield seal.jpg 

GREENFIELD – A last minute write-in candidate for School Committee snapped up one of two vacant seats Tuesday, edging out a staunch opponent of an online academy affiliated with the school system.

Official results were not available late Tuesday, but School Committee candidate Wesley Blixt said he lost to write-in candidate Donna Gleason by about 140 votes in a three-way race for two vacant seats.

Margaret Betts, an elementary school teacher who campaigned with Blixt, won the other seat.

Gleason, who is retiring as principal of Four Corners Elementary School, announced her candidacy a little more than a week ago and was not on the ballot.

Blixt and Betts were both endorsed by the town’s Democratic Committee for the three-year seats.

In his campaign, Blixt said he would vote to sever the town’s relationship with K12, a virtual academy, if elected. Betts also opposed the affiliation.

Neither Gleason nor Betts could be reached for comment Tuesday night.

Wendy Davis filibuster: Texas senator filibusters for 13 hours against abortion bill

$
0
0

Wendy Davis' one-woman filibuster was intended to block a GOP-led effort that would impose stringent new abortion restrictions across the nation's second-most populous state.

AUSTIN, Texas (AP) — Wearing pink tennis shoes to prepare for nearly 13 consecutive hours of standing, a Democratic Texas state senator on Tuesday began a one-woman filibuster to block a GOP-led effort that would impose stringent new abortion restrictions across the nation's second-most populous state.

Sen. Wendy Davis, 50, of Fort Worth began the filibuster at 11:18 a.m. CDT Tuesday and passed the nine-hour mark in her countdown to midnight — the deadline for the end of the 30-day special session.

Rules stipulate she remain standing, not lean on her desk or take any breaks — even for meals or to use the bathroom. But she must also stay on topic, and Republicans pointed out a mistake and later protested again when another lawmaker helped her with a back brace. One more error, and Republicans could stop the filibuster.

If signed into law, the measures would close almost every abortion clinic in Texas, a state 773 miles wide and 790 miles long with 26 million people. A woman living along the Mexico border or in West Texas would have to drive hundreds of miles to obtain an abortion if the law passes.

In her opening remarks, Davis said she was "rising on the floor today to humbly give voice to thousands of Texans" and called Republican efforts to pass the bill a "raw abuse of power."

Democrats chose Davis to lead the effort because of her background as a woman who had her first child as a teenager and went on to graduate from Harvard Law School.

In the hallway outside the Senate chamber, hundreds of women stood in line, waiting for people in the gallery to give up their seats. Women's rights supporters wore orange T-shirts to show their support for Davis, and Lt. Gov. David Dewhurst reminded those in the gallery that interrupting the proceedings could results in 48 hours in jail.

Davis tried to stay comfortable and sharp by shifting her weight from hip to hip and slowly walking around her desk while reading notes from a large binder on her desk. When a male protester stood in the Senate gallery and shouted, "Abortion is genocide," Davis continued talking uninterrupted as the man was removed by security.

If the filibuster succeeds, it could also take down other measures. A proposal to fund major transportation projects as well as a bill to have Texas more closely conform with a recent U.S. Supreme Court decision banning mandatory sentences of life in prison without parole for offenders younger than 18 might not get votes. Current state law only allows a life sentence without parole for 17-year-olds convicted of capital murder.

Twice in the first six hours, anti-abortion lawmakers questioned Davis about the bill, presenting their arguments that it would protect women or that abortions were wrong. Davis answered their questions but did not give up control of the floor.

"This is really about women's health," said Sen. Bob Deuell, who introduced a requirement that all abortions take place in surgical centers. "Sometimes bad things can happen."

Davis questioned then why vasectomies and colonoscopies aren't also required to take place in such clinics. "Because I've been unable to have a simple question answered to help me understand how this would lead to better care for women, I must question the underlying motive for doing so."

Davis read testimony from women and doctors who would be impacted by the changes, but who were denied the opportunity to speak in a Republican-controlled committee. During one heart-wrenching story describing a woman's difficult pregnancy, Davis choked up several times and wiped tears.

The bill would ban abortion after 20 weeks of pregnancy and force many clinics that perform the procedure to upgrade their facilities and be classified as ambulatory surgical centers. Also, doctors would be required to have admitting privileges at a hospital within 30 miles — a tall order in rural communities.

"If this passes, abortion would be virtually banned in the state of Texas, and many women could be forced to resort to dangerous and unsafe measures," said Cecile Richards, president of Planned Parenthood Action Fund and daughter of the late former Texas governor Ann Richards.

Sen. Dan Patrick, R-Houston, said the Democrats never should have been allowed to put Republicans "in a box" and complained that many in the Senate GOP were "flying by the seat of their pants."

But the bill's bogging down began with Republican Gov. Rick Perry, who summoned lawmakers back to work immediately after the regular legislative session ended May 27 but didn't add abortion to the special session to-do list until late in the process. The Legislature can only take up issues at the governor's direction.

Then, House Democrats succeeded in stalling nearly all night Sunday, keeping the bill from reaching the Senate until 11 a.m. Monday.

Debate in that chamber included lawmakers waving coat-hangers on the floor and claiming the new rules are so draconian that women are going to be forced to head to Mexico to have abortions.

At one point, the bill's sponsor, Republican Rep. Jodie Laubenberg of Spring, errantly suggested that emergency room rape kits could be used to terminate pregnancies.

Edward Boyce beats 3 others in race for 1 spot on Wales Board of Selectmen

$
0
0

The town clerk said 499 voters, or 38 percent, of the town's 1,283 registered voters cast ballots.

wales seal wales town seal.jpg 

WALES - Voters elected a new selectman in Tuesday's annual election.

Edward Boyce, of 81 Haynes Hill Road, received the most votes for selectman by a wide margin with 301, according to Town Clerk Leis A. Phinney. The term is for three years.

Karen Blasco, of 35 Lake George Road, received 97 votes; former selectman Richard J. Learned, of 59 Mt. Hitchcock Road, received 76 votes; and Lynne Serrenho, of 48 Tiderman Road, who ended up withdrawing from the race, got 10 votes.

There was a vacancy on the Board of Selectmen because Michael J. Valanzola did not seek reelection.

In the U.S. Senate race, voters picked Republican Gabriel Gomez over Democrat Edward Markey, 271 to 217. Markey won the seat, however, receiving at least 55 percent of the vote statewide.

Phinney said 499 voters, or 38 percent, of the town's 1,283 registered voters cast ballots.

"We had a very good turnout. It was somewhat higher than the average for the town," Phinney said.

 

Ex-Massachusetts college student's $675,000 song-sharing fine upheld

$
0
0

A jury ordered Providence, R.I., resident Joel Tenenbaum to pay $22,500 for each of 30 songs after the Recording Industry Association of America sued him on behalf of 4 record labels.

BOSTON — A $675,000 verdict against a former Boston University student who illegally downloaded and shared songs on the Internet has been upheld.

A jury ordered Providence, R.I., resident Joel Tenenbaum to pay $22,500 for each of 30 songs after the Recording Industry Association of America sued him on behalf of four record labels.

Tenenbaum argued the $675,000 award violates his due process rights because it's not tied to the injury he caused. He estimates that to be no more than $450, or the cost of 30 albums.

A federal appeals court Tuesday found Tenenbaum's conduct was "egregious" because he illegally shared songs for years despite numerous warnings.

The U.S. Supreme Court last year declined to hear Tenenbaum's appeal.

Tenenbaum says he can't comment on the ruling.


Chicopee School Committee extends Superintendent Richard Rege and awards him $15,000 a year raise

$
0
0

School Committee members said they have been happy with Rege's performance and want to keep him in the position.

CHICOPEE – Concerned their long-term superintendent could get a better offer from another district, School Committee members have extended Superintendent Richard R. Rege's contract to 2018 and given him a $15,000 raise.

Saying Rege has been the target of headhunters searching for superintendents for other communities, members of the committee said he was underpaid and it was important to extend his contract to keep him in the position.

In fiscal year 2012, Rege was earning $145,000 a year. That has been raised retroactively to $160,000 for fiscal year 2013.

“Rick is doing an amazing job. He is out at every event,” School Committee member David G. Barsalou said. “We just don't want to lose him.”

School Committee vice chairwoman Marjorie A. Wojcik said in his eight years as superintendent, Rege has built up a strong partnership with other city officials as well as developing a good relationship with Boston legislators and state education officials.

An examination of area superintendent salaries showed that Rege was underpaid. To continue keeping him at the helm of the school system, it was important to pay him competitively, said Adam D. Lamontagne, a committee member.

The issue especially came to the forefront this spring when the Holyoke School Committee hired a new superintendent at a salary of $160,000 a year.

Chicopee has 7,775 students in the district with 63.4 percent of the students low income and 17.2 percent having learning disabilities. Holyoke is a smaller district with 5.922 students, but is seen as more challenging, with 85 percent of children listed as low income and 25 percent as having disabilities.

Rege confirmed he has been approached by other school districts who have asked him to apply but he is committed to Chicopee.

“I won't interview anywhere else and they (the School Committee) show loyalty to me,” he said.

One of the things that makes Rege attractive is the fact he has stayed in the position for so long. It is rare for a superintendent to be starting his ninth year in the same district.

He said he was happy with the salary increase and called it fair. “It was a vote of confidence in my abilities.”


Christ the King Church in Ludlow to present 28th annual family picnic

$
0
0

The picnic - on June 30 from noon to 9 p.m. - will feature Polish specialties including pierogi, golumbki, kapusta and kielbasa, as well as an "American" foods such as hot dogs, hamburgers, fried dough, French fries, grinders and barbecued chicken.

christ.JPGParishioners of Christ the King Church in Ludlow make pierogi in the church's kitchen in preparation for a recent annual picnic.  

LUDLOW - One of the things people like about the annual Christ the King Church picnic is that it is the same year after year.

People come for the traditional Polish food and the polka music, said picnic chairman Thomas T. Pichey.

This year's 28th annual family picnic will be held on June 30 from noon to 9 p.m. on the church grounds on Warsaw Avenue.

“If we didn’t have the Polish food, they wouldn’t come,” Pichey said.

This year’s picnic will feature the traditional “Polish Kitchen,” with homemade pierogi, golumbki, kapusta and kielbasa, as well as an “American Kitchen,” featuring hot dogs, hamburgers, fried dough, French fries, grinders and tasty barbecued chicken, said Rick Burkot, one of the organizers.

Besides the food, there will be raffles, games of chance, a craft and jewelry booth, a bake sale and an ice cream sundae booth.

Many people come for the Polish bands.

This year, music will be provided by John Stevens' Doubleshot from noon until 4 p.m. and by Lenny Gomulka & Chicago Push from 5 to 9 p.m.

Attendees come from as far away as Connecticut, New York and New Jersey to hear Lenny Gomulka & Chicago Push, a nationally recognized band, Pichey said.

The picnic usually draws about 1,000 people.

Beginning around 5 p.m., the picnic gets busier as people come for the food and the entertainment around the dinner hour and spend the evening.

Volunteers have been gathering for several months to make the Polish food, which is labor intensive.

Pichey said that although some of the workers are elderly, they enjoy gathering together to pinch the dough and socialize.

He said younger members of the parish are learning to make the Polish food so that the tradition will continue.

Available at the picnic will be pierogi, a dough stuffed with cabbage or other fillings, and golumbki, cabbage stuffed with ground meat and rice. Kielbasa and kapusta - a braised, seasoned sauerkraut with other ingredients such as bacon, mushrooms, onion or garlic - also will be available.

The picnic is open to the public with free admission and free parking.

For those who can’t stay, take-out orders will be available on all food starting at noon.



Senator-elect Ed Markey tells supporters: 'This victory belongs to you'

$
0
0

Markey asked supporters to give a round of applause to Republican candidate Gabriel Gomez. "We might disagree on the issues but we do agree on one thing," Markey said. "We love the state of Massachusetts and we love the United States of America."

062513-markey-and-wife.jpg06.25.2013 | BOSTON -- Democratic U.S. Rep. Edward Markey, with wife Dr. Susan Blumenthal, celebrates his victory in the Massachusetts special election for the U.S. Senate at his campaign party Tuesday, June 25, 2013, in Boston. Markey defeated Republican candidate Gabriel Gomez for the Senate seat vacated by Secretary of State John Kerry. 

BOSTON — Facing a jubilant crowd of supporters on Tuesday night, Democratic Senator-Elect Edward Markey, in his victory speech, pledged to stand up for all Massachusetts residents in the U.S. Senate.

“To everyone in this state, regardless of how you voted, I say to you tonight this is your seat in the United States Senate,” Markey said.

Markey took the stage at the Park Plaza Hotel to loud applause around 10:10 p.m., about an hour after results showed him defeating Republican Gabriel Gomez by a 10-point margin. His wife Susan Blumenthal stood by his side.

“This victory belongs to you. It belongs to your families,” Markey told supporters. “I am deeply humbled and I am profoundly grateful.”

As he often did on the campaign trail, Markey mentioned his modest background as the son of a milkman. “Thanks to the opportunities this country gave me, this son of a milkman is going to serve the state of Massachusetts in the United States Senate,” Markey said.

Markey pledged to “seek change that lifts up your families and your future.” He said he wants to lead a “green energy revolution,” to create jobs, combat climate change and reduce dependence on foreign oil. He pledged to pursue an “innovation strategy” that funds Massachusetts industries such as health care, information technology and biotechnology. He said he would fight for seniors, veterans, immigrants and young people.

“I’m going to the U.S. Senate to stand up for you, and for the values that I’ve always believed in: honesty, fairness and equality,” Markey said.

Markey asked supporters to give a round of applause to Gomez. “We might disagree on the issues but we do agree on one thing,” Markey said. “We love the state of Massachusetts and we love the United States of America.”

As Markey finished speaking, the room was showered with red, white and blue confetti.


Puma drops Aaron Hernandez

$
0
0

Puma has ended its relationship with Aaron Hernandez.

Puma has ended its relationship with Aaron Hernandez "in light of the current situation," spokesperson Katie Gregory told MassLive.com.

Hernandez was charged Wednesday with the murder of Odin Lloyd. CytoSport has also dropped Hernandez from an endorsement contract.

The tight end was released by the Patriots Wednesday.

Hernandez signed a two-year contract with the shoe company in April. At the time, Puma said one of the things that made Hernandez attractive was his "ability to overcome adversity."

“It isn’t every day that we welcome such a young talent to our team and we couldn’t be more excited to be working with Aaron Hernandez,” Jay Piccola, president of Puma North America, said in statement released in April. “His talent, athleticism and ability to overcome adversity have made him a rising star, and all this matched with his personality and intense training regimen is what makes Aaron a key part of the Puma family.”

Accused wife killer Cara Rintala of Granby to stay in jail awaiting retrial, Massachusetts' highest court rules

$
0
0

Hoose noted that he has had clients released on bail that were charged with murder, notably Charles Fryer, Jr., who was convicted in 1990 of stabbing Springfield College student Eric S. Palmer.

This is an updated version of a story posted at 11:59 this morning.


The Massachusetts Supreme Judicial Court denied a petition to set bail for Cara L. Rintala Thursday, ensuring that the Granby woman will remain in jail pending her retrial on charges that she murdered her wife.

Rintala, 47, has been behind bars since Oct. 19, 2011, when she was arrested following a grand jury indictment. According to prosecutors, Rintala killed Annamarie Cochrane Rintala, 37, in the Granby home the couple shared with their young daughter on March 29, 2010. Rintala is the first woman in the history of the state to be charged with murdering her lawfully wedded wife.

Nearly three years after the incident, Rintala’s case finally went to trial in March, only to end in a hung jury. Because of commitments by defense lawyer David P. Hoose, it has not appeared likely that the case will be retried before next year. However, a status conference scheduled for July 11 might clarify the retrial date.

Hoose was co-counsel in the murder trial of Anthony P. Baye, which was projected to last several weeks. The case ended abruptly after only one day of testimony in May when Baye pleaded guilty to setting 27 fires in Northampton, one of which claimed the life of a father and son. He was sentenced to 19-20 years in prison.

Hoose is also involved in a capital case in federal court. He said Thursday that he should have a better idea of his availability for the Rintala trial at the status conference.

Judge Mary-Lou Rup, who presided over Rintala’s trial, twice refused to set bail for her, once in the amount of $100,000 and later in the amount of $250,000. The petition before the Supreme Judicial Court also asked it to set bail at $250,000, but Associate Justice Fernande R.V. Duffly denied the request without a hearing.

Prosecutor Steve Gagne said that the court generally leans in favor of bail because it is not meant to be punitive but to ensure the appearance of the defendant at trial. However, the presumption that the defendant should be released does not apply in murder cases, he said.

“It’s still a matter of discretion for the court, but the penalty is so severe it creates the incentive to flee,” he said.

Gagne argued in his opposition to the Supreme Judicial Court petition that Rintala is a flight risk.

Hoose noted that he has had clients released on bail that were charged with murder, notably Charles Fryer Jr., who was convicted in 1990 of stabbing Springfield College student Eric S. Palmer.

“As a practical matter, in my mind, there’s no difference,” he said.

Hoose denied that Rintala is a flight risk and pointed out that at least some jurors did not consider her guilty.

“They took their best shot at her with a circumstantial case,” he said of the prosecution.

 

Report: Massachusetts job growth 'virtually stalled'

$
0
0

MassBenchmarks reported gross state domestic product growth slowed to a 1 percent annualized rate in April and May.

A strengthening housing market and consumer spending on automobiles are helping to improve the state’s economy but higher federal taxes combined with significant federal spending cuts are serving as a drag on growth, according to area economists.

“Even as the Massachusetts economy shows some genuine signs of strength, contractionary federal government fiscal policy is manifestly slowing economic growth in Massachusetts,” MassBenchmarks Executive Editor Robert Nakosteen wrote in a summary of recent discussions by area economic experts released Thursday morning.

“In the coming months, assuming these policies stay in place, a further retarding of economic growth can be expected. At the same time, the state's labor market continues to be under considerable stress and faces profound challenges that are not fully reflected in the state's headline unemployment rate.”

The summary cites “considerable stress” in the state’s labor market. While the state’s jobless rate is a full point below the national rate, rising numbers of people in Massachusetts are working part-time but want to work full-time or have not looked for a job in the last four weeks but would take one if offered.

MassBenchmarks reported gross state domestic product growth slowed to a 1 percent annualized rate in April and May, with employment growth in Massachusetts “virtually stalled,” a situation reflected in the state’s withholding tax collections.

Also, export activity in Massachusetts was down more than 11 percent in April, compared to April 2012.

MassBenchmarks is published by the Donahue Institute at UMass in collaboration with the Federal Reserve Bank of Boston.


Angela Ordonez to become state's 1st Hispanic chief justice with appointment to Probate and Family Court

$
0
0

BOSTON – Chief Justice Designate of the Trial Court Paula M. Carey announced Thursday she will appoint Norfolk County Probate and Family Court First Justice Angela M. Ordoñez to a five-year term as chief justice of the Probate and Family Court on July 16, making Ordoñez the first Hispanic to hold the post, according to a press release from...

013010_angela_ordonez.JPGAngela M. Ordonez 

BOSTON – Chief Justice Designate of the Trial Court Paula M. Carey announced Thursday she will appoint Norfolk County Probate and Family Court First Justice Angela M. Ordoñez to a five-year term as chief justice of the Probate and Family Court on July 16, making Ordoñez the first Hispanic to hold the post, according to a press release from the Supreme Judicial Court.

Ordoñez will succeed Chief Justice Carey as the chief justice for that Trial Court department.

Supreme Judicial Court offices.jpgMassachusetts Supreme Judicial Court. 
“I am very pleased to appoint Judge Ordoñez to lead the Probate and Family Court for the next five years,” said Carey in the press release. “She has the respect and support of her colleagues and the probate and family bar. She has brought significant leadership, organization and people skills to her role as the First Justice in Norfolk, making her very qualified to oversee this department for the Trial Court. She understands the needs of the Probate and Family Court and has the ability to lead the implementation of the Trial Court’s strategic plan in the Probate and Family Court department. Judge Ordoñez is committed to meaningful collaboration with other court departments and will oversee continuous improvement in a range of areas, including parental engagement, consistent practices and caseflow management.”

Ordoñez said, “I am honored by the opportunity given to me by Chief Justice Carey to serve the Probate and Family Court as Chief Justice. My experience as an attorney, Assistant Register, Judge and First Justice has provided me with a unique perspective on the work of the Probate and Family Court and the people we serve. The greatest strength of our Court is in the dedication of the judges and employees who work to deliver justice each day. I am thankful to be a part of this re-energized organization and look forward to supporting the mission of the Trial Court.”

Ordoñez, who will be the state’s first Hispanic chief justice, was appointed as a judge to the Probate & Family Court in 2000, after seven years as an assistant register of probate in Suffolk County and three years as an attorney at Greater Boston Legal Services. She was appointed the first justice of Norfolk County in 2011 and had previously served as first justice of Nantucket County. In 2010, she was named a distinguished jurist by the Massachusetts Association of Women Lawyers. In 2001, she received the Las Primeras Award from the Massachusetts Association of Hispanic Attorneys.

Ordoñez’s many community initiatives include the 2009 creation of, and continued ongoing active participation in, the Massachusetts Bar Association’s Tiered Community Mentoring Program. When serving Nantucket County, she created the Community Court Program and introduced a Lawyer for the Day Program. Ordoñez received her law degree and a bachelor’s degree in criminal justice from Northeastern University.

The Probate and Family Court Department comprises 14 divisions with 51 authorized judicial positions across the commonwealth. The Massachusetts Trial Court includes seven court departments with 380 judges who deliver justice to thousands of people daily in 101 courthouses across the state.

Northampton police call for license hearing for Tully O'Reilly's and The Elevens bar

$
0
0

A 2-year review turned up numerous incidents that taxed the entire on-duty force, at times leaving the rest of the city without a police presence, Police Chief Russell Sienkiewicz said.

NORTHAMPTON — The Police Department has requested that the License Commission hold a violation hearing for Tully O’Reilly’s and The Elevens, maintaining that the bar cannot control its customers and poses a danger to public safety.

In a letter to the commission, Police Chief Russell P. Sienkiewicz said the bar creates "more often than not a violent atmosphere” in the downtown area. Sienkiewicz cited a series of incident over several years in which police have been called to the bar or the area around it to quell disturbances.

The most recent incident, on June 16, resulted in seven arrests, Sienkiewicz said. A 25-year-old man inside the bar suffered lacerations and fractures to his face that night, according to police.

A two-year review turned up numerous incidents that taxed the entire on-duty force, at times leaving the rest of the city without a police presence, Sienkiewicz said.

“It is apparent and clear that Tully O’Reilly’s cannot properly monitor, manage, or control the large crowds that frequent this establishment,” Sienkeiwicz wrote, “evidenced by the continued unlawful activity, disorder and endangerment of the public’s safety.”

Tully J. McColgan, the bar’s owner, declined to comment on the situation Thursday.

The License Commission scheduled the hearing for July 17. More than a half-dozen witnesses are expected to be called.


Greenfield Community College given $1 million to create Jean Simmons Endowed Chair in nurse education

$
0
0

The donation will pay for the first endowed faculty position at a community college in Massachusetts.

GREENFIELD – Donors who wish to be anonymous have given Greenfield Community College $1 million to create the first endowed faculty position at a community college in Massachusetts, according to a statement from the college this week.

The fund will establish the Jean Simmons Endowed Chair in Nurse Education.

In addition, to further the donors’ purpose for their gift, GCC will direct the personnel cost savings from this fund to create the position of Nursing Pathways Transition Advisor as well as a scholarship program to support GCC students at all levels of nursing education.

The endowed faculty chair is named in honor of longtime GCC nurse educator Jean Simmons ¤’65. A current GCC Nursing faculty member will be appointed to the chair in the fall.

Simmons grew up in Florence and graduated from Northampton High School in 1963. She was the first nursing program applicant to be admitted as a GCC nursing student and she graduated with the first class from the program. As well as working as a nurse in the community, Simmons taught in GCC’s nursing program in 1968 and from 1974 to 2003 and served as coordinator of the Associate of Science Nursing Program from 1998 to 2003. Simmons is now a professor emeritus.

Also, GCC will be announcing agreements with several colleges to bring bachelor degree nursing programs to GCC, so community members can study toward their BSN degrees here.

“The people who made this gift care so deeply and passionately about education and the health care of our community," GCC President Robert Pura said. "It speaks to their heart and who they are - wonderful and giving people. And, it is absolutely perfect that this endowed faculty chair is named in honor of Jean Simmons. Jean has been the face of our nursing program, a key part of the program’s long-standing commitment to quality and community engagement.”

“I’m honored and humbled to have the chair named for me, but really it is a tribute to GCC’s nursing program, former and current faculty members, and the many graduates who work in our community and those who have risen to high levels in a variety of nursing roles," Simmons said.

Simmons holds an Associate of Science in Nursing from GCC, a Bachelor of Science in Nursing from St. Anselm College, and a Master of Science in Nursing Administration from the University of Massachusetts at Amherst.

Simmons has a long history of practice as a nurse. From 1975 to 1988, she worked at the former Farren Memorial Hospital in Montague in several roles. From 1988 to 2010, she served as a consultant to the education department of Franklin Medical Center in Greenfield. In addition to her work in local hospitals, Simmons was active in nursing practice in Boston, Florida, Maryland and California.

Hampden-Wilbraham Regional School District to restore 12 teaching positions in wake of contract accord, superintendent Martin O'Shea says

$
0
0

School Committee Chairman Peter Salerno praised the cooperation by the teachers union in negotiating a contract which will allow positions to be restored.

WILBRAHAM - Critical teaching positions due to be cut will be restored in the Hampden-Wilbraham Regional School District due to the contract negotiated by the School Committee negotiating team with the teachers, paraprofessionals and clerical staff, regional School Superintendent M. Martin O’Shea said.

“We will bring back positions in English, math, social studies and Mandarin Chinese,” O’Shea said, “which will reduce class size at the high school level.”

The new contract also will allow for the restoration of 12 elementary related arts positions that had been scheduled to be reduced to 80 percent positions.

The 12 positions in elementary art, music, physical education and health and science lab will be restored to 100 percent positions, O’Shea said.

The new contractual agreements also will allow the district to “shore up information technology at the middle schools,” O’Shea said.

The new contracts result in a cost savings to the regional school district of approximately $600,000, School Committee Chairman Peter Salerno said.

“The cooperation from the union made the agreement possible,” Salerno said.

To help achieve the cost savings, the teachers agreed to forego all step increases for the coming year. Teachers are eligible for step increases for the first 15 years of service.

The new contract which was approved on June 20 also calls for a 1 percent cost of living raise for all teachers.

In addition, the agreements include provisions to reduce rising health care costs by changing the cost-share arrangement on the health insurance plan.

Salerno said the School Committee negotiating team “did not get everything we wanted, but we got everything we needed.”

“The cooperation from the union made the solution possible,” Salerno said.

Wall Street: Stocks gain on encouraging news about the economy

$
0
0

Consumer spending rose 0.3 percent last month as incomes increased at the fastest pace in three months, the government reported.

Wall Street Premarket_Gene.jpgTrader William McInerney works on the floor of the New York Stock Exchange. Global stock markets were mostly higher Thursday June 27, 2013 after the U.S. said quarterly growth may be weaker than expected, raising investors' hopes that the Federal Reserve would delay plans to wind down its stimulus program. 


By STEVE ROTHWELL

NEW YORK — Better news on jobs and consumer spending pushed stocks higher Thursday.

The Dow Jones industrial average and the Standard & Poor's 500 index rose for a third straight day. Bond yields fell for a second day, easing worries that a sudden spike in interest rates could hurt the economy.

Consumer spending rose 0.3 percent last month as incomes increased at the fastest pace in three months, the government reported. The number of Americans seeking unemployment benefits fell 9,000 to 346,000 last week. The report added to evidence that the job market is improving modestly.

Stocks have rallied since Tuesday as investors took advantage of lower prices after a sell-off that lasted till Monday. The plunge came after Federal Reserve Chairman Ben Bernanke said that the central bank could cut back on its stimulus later this year and possibly end it next year, if the economy continued to improve.

The Dow sank 560 points over Wednesday and Thursday of last week. Even with the gains this week the index is still 293 points below where it was June 18, the day before the Fed laid out its plans for how it might wind down its stimulus.

The central bank is buying $85 billion in bonds every month to hold down long-term interest rates and encourage borrowing and spending. Fed stimulus has underpinned a stock market rally that started in March 2009 by encouraging investors to put money into risky assets.

"What's driving that market up is that people are realizing that they are in a 'win-win' situation," said Rick Robinson, a regional Chief Investment Officer at Wells Fargo Private Bank. "If you have good economic data that should be good for stocks, if you have poor economic data ... that means the Fed will probably have its (stimulus) longer."

The Dow closed up 114.35 points, or 0.8 percent, to 15,024.49. The S&P 500 index climbed 9.94 points, or 0.6 percent, to 1,613.20.

Nine of the 10 industry groups in the S&P 500 rose, led by financial stocks. Materials companies were the only group that fell.

In a sign that investors were once again more confident in holding riskier assets, the Russell 2000 index of small-company stocks rose 16.09 points, or 1.7 percent, to 979.92, more than twice as much as the rest of the market.

The yield on the 10-year Treasury note fell to 2.48 percent from 2.54 percent late Wednesday. The yield climbed as high 2.66 percent on Monday, the highest since August 2011. The rate has surged since May 3, when it touched its low for the year of 1.63 percent. Concern that the Fed is poised to start pulling back on its stimulus prompted investors to sell bonds, pushing the yield higher.

Investors who have added bonds to their portfolios at the expense of stocks should consider reducing their fixed income holdings because yields are likely to rise further, said Doug Cote, chief market strategist at ING Investment Management. Bonds rallied from 2007 to 2012, years that encompassed the financial crisis and the Great Recession. The yield on the 10-year Treasury note fell to a record low of 1.39 percent in July last year.

"For the first time in five years, equities are the safest asset class," Cote said.

Higher yields on Treasury bonds translate into higher borrowing costs on many kinds of loans including home mortgages. Average U.S. rates on fixed mortgages surged this week to their highest levels in two years. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan jumped to 4.46 percent. That's up from 3.93 percent last week and the highest since July 2011.

Higher rates have yet to slow the housing market. Homebuilders got a lift from a report Thursday suggesting that the housing recovery remains intact. The number of people who signed contracts to buy U.S. homes jumped in May to the highest level in more than six years.

D.R. Horton rose 79 cents, or 3.8 percent, to $21.71. Lennar gained $1.37 cents, or 3.8 percent, to $37.38.

Investors were also encouraged by comments from a key Fed official. Federal Reserve Bank of New York President William Dudley said the central bank would likely keep buying bonds if the economy failed to grow at the pace the Fed was expecting.

"If labor market conditions and the economy's growth momentum were to be less favorable than in the (Fed's) outlook_and this is what has happened in recent years_I would expect that the asset purchases would continue at a higher pace for longer," Dudley said at a news conference in New York.

While the S&P 500 index is on track to record its first monthly loss since October, the index is still poised to end June with the best first half of a year since 1998, when it rose 17.7 percent. The index has gained 13.2 percent so far this year.

The market will likely become more volatile though in the second half of the year as investors assess when the Fed will end its stimulus, said Kate Warne, investment strategist at retail brokerage firm Edward Jones.

"The general outlook for the economy is solid," said Warne. "The trend in stock prices is likely to continue to be higher, even though we'll see a lot more zig-zagging as everyone debates the timing of the Fed's next move."

In commodities trading, the price of oil rose $1.55, or 1.6 percent, to $97.05 a barrel. Gold fell $18.20, or 1.5 percent, to $1,211.60 an ounce. The price of the precious metal has plunged more than 10 percent in the last two weeks. Gold traded below $1,200 for the first time since August 2010.

In other trading, the Nasdaq composite rose 25.64 points, or 0.8 percent, to 3,401.86.

The dollar fell against the euro and the Japanese yen.

Among stocks making big moves:

— ConAgra Foods rose $1.69, or 5.1 percent, to $35.04 after the company posted a quarterly profit that came in a penny above the forecasts of Wall Street analysts. The maker of Chef Boyardee, Hebrew National and other packaged foods benefited from acquisitions and price cuts that helped increase sales. —Payroll processor Paychex fell $1.39, or 3.7 percent, to $36.60 after posting earnings that fell short of analysts' expectations. The company said profit for the three months through May 31 came in roughly flat at 34 cents per share. Analysts had expected earnings of 37 cents a share.

Viewing all 62489 articles
Browse latest View live




Latest Images