Wed07292015

News

Bacteria in water supply put Los Altos on high alert

Bacteria in water supply put Los Altos on high alert


Eliza Ridgeway/Town Crier
In the wake of an E. coli alert, Los Altos resident Lou Dadok stocks up on bottled water at the downtown Safeway.

California Water Service Co. earlier this week enacted emergency response protocol and alerted hundreds of L...

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Schools

BCS hosts Stretch to Kindergarten program for underserved youth

BCS hosts Stretch to Kindergarten program for underserved youth


Traci Newell/Town Crier
The six-week, tuition-free Stretch to Kindergarten program, hosted at Bullis Charter School, serves children who have not attended preschool. A teacher leads children in singing about the parts of a butterfly, above.

Local un...

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Community

Google car painting project calls on artists

Google car painting project calls on artists


Google self-driving car

Already known as an innovator in the tech field, Google Inc. is now moving in on the art world.

The Mountain View-based company July 11 launched the “Paint the Town” contest, a “moving art experiment” that invites Califo...

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Sports

Pedaling with a purpose

Pedaling with a purpose


courtesy of
Rishi Bommannan Rishi Bommannan cycled from Bates College in Maine to his home in Los Altos Hills, taking several selfies along the way. He also raised nearly $13,000 for the Livestrong Foundation, which supports cancer patients.

When R...

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Comment

The truth about coyotes: Other Voices

The Town Crier’s recent article on coyotes venturing down from the foothills in search of sustenance referenced the organization Project Coyote (“Recent coyote attacks keep residents on edge,” July 1). Do not waste your time contac...

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Special Sections

Grant Park senior program made permanent

Grant Park senior program made permanent


Photos by Alicia Castro/Town Crier
Local residents participate in an exercise class at the Grant Park Senior Center, above. Betsy Reeves, below left with Gail Enenstein, lobbied for senior programming in south Los Altos.

It all began when Betsy Reev...

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Business

New State Street rug retailer has downtown Los Altos covered

New State Street rug retailer has downtown Los Altos covered


Alicia Castro/Town Crier
Los Altos Rug Gallery owner Fahim Karimi stocks his State Street store with a wall-to-wall array of floor coverings.

A new downtown business owner plans to roll out the red carpet – along with rugs of every other color...

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Books

Book Signings

• Fritz and Nomi Trapnell have scheduled a book-signing party 4-6 p.m. Aug. 1 at their home, 648 University Ave., Los Altos.

Fritz and his daughter, Dana Tibbitts, co-authored “Harnessing the Sky: Frederick ‘Trap’ Trapnell, ...

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People

GRACE WILSON FRANKS

GRACE WILSON FRANKS

Resident of Los Altos

Grace Wilson Franks, our beloved mother and grandmother, left us peacefully on July 16, 2015 just a few weeks short of her 92nd birthday. She was born to Ross and Florence (Cruzan) Wilson in rural Tulare, California on Septem...

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Travel

Gearing up: Make travel more civilized with accessories

Gearing up: Make travel more civilized with accessories


Eren Göknar/Special to the Town Crier
San Francisco-based humangear Inc. sells totes, tubes and tubs for traveling.

In travel, as in romance, it’s the little things that count.

Beyond the glossy brochures lie the travel discomforts too mun...

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Stepping Out

Going out with a 'Bang'

Going out with a 'Bang'


Richard Mayer/Special to the Town Crier
“Chitty Chitty Bang Bang” stars, clockwise from top left, Alexander Sanchez, Sophia Sturiale, Deborah Rosengaus and Danny Martin.

Los Altos Stage Company and Los Altos Youth Theatre’s joint production of t...

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Spiritual Life

Build a 'light' house and get out of that dark place

Most of us have a place inside our hearts and minds that occasionally causes us trouble. For some, it is sadness, depression or despair. For others, it may be fear, anger, resentment or myriad other emotional “dark places” that at times seem to hij...

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Magazine

Inside Mountain View

Residents gather at NASA Ames for Pluto Flyby event

Residents gather at NASA Ames for Pluto Flyby event


Megan V. Winslow/Town Crier
NASA Ames’ Pluto Flyover event kindles the imaginations of young attendees.

Sue Moore watched the July 20, 1969, moon landing beside patients and staff members of the San Francisco hospital where she worked as a nurse...

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Stock market bulls still look happy

The Dow Jones industrial average has moved primarily sideways since peaking April 11 at 14,865.14. Periods like this provide a good opportunity to take a step back and examine what the market is telling us.

Economic growth regained speed in the first three months but slowed once companies reported their latest quarter results. The primary trend is still in the bullish camp, with few references to a bear market in the expanded economy.

According to the U.S. Bureau of Economic Analysis, the economy expanded at an annualized rate of 2.5 percent in the March quarter. The growth represents impressive acceleration from the December quarter’s meager 0.4 percent. The private sector more than offset any weakness in government spending.

A bull would recognize personal-consumption spending rising 2.2 percent as the largest quarter gain since December 2010. There is nothing more important to the economy than a strong consumer market, and in the March quarter, consumers were spending. In addition, inflation remains under control – the price index indicated inflation of 0.9 percent in the March quarter, down 1.6 percent in each of the last two quarters.

Bulls like performance, and to simplify, stock prices can rise for two reasons: (1) investors become more optimistic about the outlook for earnings and dividends and (2) investors become more willing to pay up for those earnings and dividends because of diminished risk or diminished competition from alternative investments like bank accounts and bonds.

Another item the bulls like is the dividend hikes many companies have announced since Jan. 1. A number of blue-chip stocks, including Apple Inc., as reported below, have raised their payouts.

One Town Crier “50” stock and another local company made news last week.

• Apple Inc. (AAPL; $432.34) gave investors what they were looking for in their deployment of cash. Apple is opening the bank vault and will distribute $100 billion in cash to shareholders over two years. It will also buy back $60 billion in shares and raise its dividend by 15 percent to $3.05 per share. Investors have been pushing Apple to distribute its cash hoard of $145 billion.

The Cupertino-based company announced financial results for the fiscal second quarter that ended March 30. Apple posted quarterly revenue of $43.6 billion and quarterly profit of $9.5 billion. However, the company’s gross profit margin plunged nearly 10 percent, reflecting a shift in product mix. Apple sold 37.4 million iPhones, up 7 percent from a year ago, and 19.5 million iPads, up 65 percent.

Apple provided future guidance for its fiscal 2013 third quarter: revenue between $33.5 billion and $35.5 billion and gross margins between 35 and 37 percent.

The Apple Worldwide Developers Conference will kick off June 10 in San Francisco.

While analysts maintain different opinions on Apple stock, with the price in the low $400s now, many consider it a strong buy, with a median target price at $590.

• Varian Medical Systems Inc. (VAR; $64.79), regarded one of the top health-care equipment companies, last week announced that profits rose 9 percent to $1.02 in the March quarter. In line with consensus reporting, the Palo Alto-based company reported revenues increasing 13 percent to $842 million on 14 percent growth from X-ray products. The backlog rose 4 percent to $2.75 billion.

Varian entered the third quarter with cash, cash equivalents and short-term investments of $795.9 million, up 22.8 percent on a year-over-year basis. Long-term debt stood at $6.3 million.

Numerous analysts like Varian stock and have upgraded its status. Considered a long-term buy, Varian is expected to outperform the industry, with a high target of $88 and a mean target of $79.

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