Tue07222014

News

Q&A with Anne Wojcicki: 23andMe founder, local resident discusses Los Altos investments

Q&A with Anne Wojcicki: 23andMe founder, local resident discusses Los Altos investments


Anne Wojcicki

For the past several years, Anne Wojcicki (Wo-JIT-skee) has been quietly involved in efforts to spruce up downtown Los Altos. She and her husband, Google Inc. co-founder Sergey Brin, helped form Passerelle Investment Co., which own...

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Schools

Foothill fall registration opens Monday

Local residents interested in earning a specialized career certificate, associate degree or updated job skills can enroll beginning Monday when Foothill College opens fall registration.

In addition to its continuing-education courses, the college pr...

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Community

Sports

Stewart accepts job as baseball coach at Los Altos High

Stewart accepts job as baseball coach at Los Altos High


Los Altos High administrators offered Gabe Stewart the job of head baseball coach at Los Altos High even before he could apply for it.

“They approached me – they wanted an on-campus coach,” said Stewart, an AP History teacher at ...

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Comment

A good start – now follow through: Editorial

The recent announcement of a five-year agreement between the Los Altos School District and Bullis Charter School is welcome relief for the entire community. After years of dispute and litigation, the pact is nothing short of a minor miracle.

Among t...

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Business

In the business of fostering business

In the business of fostering business


took over as Los Altos’ new economic development coordinator in May after spending the past two years working as city assistant planner. Ellie Van Houtte/ Town Crier

Sierra Davis is wearing a slightly different hat these days as a Los Altos cit...

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Books

"Frozen in Time" chronicles harrowing WWII rescue attempts


Many readers can’t resist a true-life adventure story, especially those that shine a spotlight on people who exhibit supreme courage in the face of adversity and end up surviving – or not – against the odds.

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People

GORDON E. BRANDT

GORDON E. BRANDT

In May of 2014, Gordon E. Brandt passed away after a one and one half year battle with Lymphoma. He died peacefully at home, surrounded by his family.

Gordon was born in Los Angeles, CA on July 13, 1930. He graduated from Fremont High School in 19...

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Travel

British Columbia: Richmond, Steveston, Victoria hold surprises

British Columbia: Richmond, Steveston, Victoria hold surprises


Courtesy of Tourism Richmond
Shops, restaurants and museums dot the boardwalk in British Columbia’s Steveston, a great site for strolling.

Picturesque British Columbia has long been on our bucket list, and we recently fulfilled that dream.

We...

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Stepping Out

LA Youth Theatre, LA Stage Company join forces for 'Oz'

LA Youth Theatre, LA Stage Company join forces for 'Oz'


Joyce Goldschmid/Special to the Town Crier
The cast of “The Wizard of Oz” includes, clockwise from top left, Dana Levy (as Tinman), Rebecca Krieger (Cowardly Lion), Sarah Traina (Scarecrow) and Osher Fein (Dorothy).

Los Altos Youth Theatre and L...

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Spiritual Life

Stanford students study religion through campus artifacts

The inscriptions inside Memorial Church, the death mask of Jane Stanford and the nod to the Egyptian ankh symbol formed by Palm Drive and the Stanford Oval all have one thing in common: Each was a topic of discussion for the students enrolled in a un...

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Magazine

Festival features fun for everyone

Festival features fun for everyone


TOWN CRIER FILE PHOTO
The Los Altos Arts & Wine Festival boasts more than 375 craft and arts booths.

This weekend’s 35th annual Los Altos Arts & Wine Festival promises to be jam-packed with fun activities for just about everyone. The eve...

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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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