Mon05022016

News

Loyola Corners economics, traffic rise to top of planning concerns

Loyola Corners economics, traffic rise to top of planning concerns

Alicia Castro/Town Crier
Loyola Bridge construction parallel to the Fremont Avenue frontage may lead officials to alter circulation plans for the area.

Loyola Corners stakeholders last week mulled the issues that will likely shape the area&rsquo...

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Schools

LAHS Green Team commemorates Earth Week

LAHS Green Team commemorates Earth Week


Traci Newell/Town Crier
Los Altos High School Green Team members, above, quiz their classmates about water conservation. The club distributed plants as prizes during the club’s Earth Week activities.

Members of the Los Altos High School Green...

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Community

Local pianist, 11, slated to perform Saturday at statewide competition

Local pianist, 11, slated to perform Saturday at statewide competition


Courtesy of the Cha family
Spencer Cha plays piano at a Santa Clara University recital. The sixth-grader also enjoys soccer, tennis, golf and skiing.

Spencer Cha has come a long way since he first sat down at the piano at age 2.

“I remem...

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Sports

Spartans net second place, eye top prize next season

Spartans net second place, eye top prize next season


Megan V. Winslow/Town Crier
Jeremy Hsu, Mountain View High’s top singles player, competes against Pinewood Thursday. The Spartans won the match 7-0.

With freshmen playing the top three spots in singles, the future of the Mountain View High boy...

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Comment

Los Altos at a leadership crossroads: Editorial

Don’t look now, but there could be some major changes ahead regarding how the Los Altos city government is run.

The current city council has the opportunity to hire a new city manager in the wake of Marcia Somers’ recent resignation. Fur...

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Special Sections

How to personalize the wedding bar

How to personalize the wedding bar


Christine Moore/Special to the Town Crier
A seasonal signature cocktail adds interest beyond the standard wedding bar’s spirits and mixers. Focus on one set of fresh ingredients, such as blueberries, blackberries and mint for a dose of budget...

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Business

Farmers prepare to market season's bounty

Farmers prepare to market season's bounty


Alicia Castro/Town Crier
Journeyman farmer Jen Friedlander waters Hidden Villa’s greenhouse plants, which will grow stronger in the controlled indoor environment before being transferred to the field outdoors.

Around Hidden Villa, the gree...

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People

BUOL JOANNE DOUGHERTY

BUOL JOANNE DOUGHERTY

1930-2016

Heaven gained a beautiful angel today. Our beloved mother’s blessed life ended in her Los Altos home surrounded by her loving family on April 18, 2016.

Buol Joanne Dougherty was born Sept. 28, 1930 in Chicago. At the age of two, M...

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Stepping Out

'Catch' comes to conclusion LA Stage Co. comedy  ends run this weekend

'Catch' comes to conclusion LA Stage Co. comedy ends run this weekend


Richard Mayer/Special to the Town Crier
Bryan Moriarty, left, stars as Yossarian and John Stephen King plays the Psychiatrist in Los Altos Stage Company’s “Catch-22.”

Los Altos Stage Company’s presentation of “Catch...

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Spiritual Life

Keep calm after recent market retreat

After five days of Dow Jones industrial average turmoil, it was a relief to see the market rising again last week. In the wake of the steady decline, the Dow now stands approximately 4.9 percent below its Aug. 2 all-time closing high.

Investors may be inclined to view the five-day retreat as a significant secondary correction and assume that there is no shortage of reasons to be bearish, given the Federal Reserve’s noncommittal approach to tapering off its bond-buying program.

According Michael Strauss, Common Fund’s chief investment strategist, the Fed’s reduction of asset purchases will “signal a stronger economy, which will be good for stocks.”

“Stay calm here and look at the taper, look at the reasons why it might occur,” Strauss said last week. “If it’s because the economy’s doing a little bit better, that’s actually a good thing.”

Two Town Crier “50” companies made headlines last week.

• Hewlett-Packard Co. (HPQ; $22.49) released disappointing third-quarter results last week, prompting the stock price to tumble.

Officials at HP, the world’s largest computer manufacturer, reported that the company made $1.4 billion in profit on sales of $27.2 billion in the third quarter, or 71 cents per share. The numbers beat analysts’ projection of 61 cents, but quarterly revenue dropped 8 percent.

CEO Meg Whitman subsequently hit the airwaves to answer for the poor showing. In an interview Friday morning on CNBC, Whitman claimed that HP is on track with regard to its five-year turnaround plan and outlined how acquisitions are part of her long-term strategy. The company is in a position, she said, to rethink its capital allocation strategy.

“Acquisitions will become part of our future,” she added. “We have our eyes on a number of areas. Some are in the $100 million to $300 million range and perhaps some up to $1.5 billion.”

HP’s sales and profits derive primarily from personal computers and printers, sales of which are in decline as consumers flock to purchase iPhones and tablets. Revenue in HP’s Computer Division declined 11 percent from a year earlier, and the printing business fell 4 percent.

During Whitman’s CNBC appearance, host Jim Cramer noted that HP has some “cool” new products in the works, including Moonshot, a software-defined server that can harness Internet traffic for enterprises. Cramer noted that Hewlett-Packard needs three things: “new products, worldwide growth and a lot of luck.”

• Cisco Systems Inc. (CSCO; $23.94) shares have fallen since the company released its July-quarter earnings. Although slightly above expectations, results proved disappointing.

For the quarter, earnings per share came in at 52 cents – besting analysts’ consensus estimate of 51 cents – and revenues totaled $12.4 billion. Cisco generated a record $4 billion in operating cash flow for the quarter.

The company announced plans to cut 4,000 jobs, approximately 5 percent of its workforce. The layoffs represent a diversion of resources to newer, faster-growing areas like cloud computing, mobility and Internet products.

Despite the setback, Cisco, one of the key suppliers of telecommunications and networking equipment for the Internet, continues to gain market share. Since initiating a dividend in March 2011 at a quarterly rate of 6 cents per share, it has more than doubled last year’s quarterly dividend with a 2.80 percent yield and an annualized dividend payout of 68 cents per share.

Some analysts advise caution with regard to Cisco stock, but others suggest an upgrade from cautious to neutral or market perform. The median target price is $28, with a high of $32.

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