Fri09042015

News

West Nile fogging commences Sept. 2

West Nile fogging commences Sept. 2


Courtesy of the Santa Clara County Vector Control District
Fogging commences Wednesday within the highlighted area.

The detection of West Nile Virus-infected mosquitos means that Santa Clara County officials will begin mosquito fogging operations...

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Schools

LASD trustees reopen negotiations with Los Altos Teachers Association

The Los Altos School District Board of Trustees last week directed staff to reopen negotiations with the Los Altos Teachers Association, a move intended to shore up the district’s financial picture.

According to the district’s current co...

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Community

LA teenager crowned Miss Golden State, advances to national pageant in Florida

LA teenager crowned Miss Golden State, advances to national pageant in Florida


Alicia Castro/Town Crier
Alexandra McCarthy, crowned Miss Golden State Teen in July, earned “Ms. Personality” honors from her peers.

Alexandra McCarthy has a ways to go before reaching her coveted role as a U.S. Supreme Court justice. Bu...

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Sports

After rough year, Eagles aim to soar once more

After rough year, Eagles aim to soar once more


Megan V. Winslow/Town Crier
Los Altos High senior running back Patrick Vargas snares a pass in practice last week.

Don’t dismiss the Eagles. Coach Trevor Pruitt is adamant that his Los Altos High football team will be better than expected.

&#...

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Comment

Car spotting 2015: A Piece of My Mind

When I was a kid, September was exciting, almost like Christmas, because that was when the Big Three automakers would reveal the new models for the upcoming year.

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Special Sections

Loving on the Edge

Loving on the Edge


Courtesy of Ford
The Ford Edge has been redesigned for 2015. Ford lengthened the wheel base and added cargo space, among other things. The Titanium model sells for approximately $42,000.

Once in a while, a vehicle we test-drive is just right for our...

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Business

Wine bar aims for October opening

Wine bar aims for October opening


Rendering courtesy of Honcho
Honcho, the wine and beer lounge on First Street, expects an October launch. A rendering of the space reveals the interior layout, which includes bar and lounge-style seating.

A downtown libations lounge that anticip...

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People

LOIS CAROLINE WALLES

LOIS CAROLINE WALLES

November, 1928

Lois lost a long and courageous battle with a prolonged illness on July 14th, 2015. She passed away knowing how well she was loved. She was always the life of the party and loved bringing everyone to her home for dinner or an event,...

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Travel

Carmel Valley Ranch unveils upgrades

Carmel Valley Ranch unveils upgrades


Courtesy of Carmel Valley Ranch
Carmel Valley Ranch recently upgraded its Vineyard Oak suites, which feature sweeping views, rocking chairs and private outdoor tubs for soaking under the stars.

Things are heating up at Carmel Valley Ranch, with 30 n...

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Stepping Out

'Dead Man' comes alive at Bus Barn

'Dead Man' comes alive at Bus Barn


Richard Mayer/Special to the Town Crier
The cast of Los Altos Stage Company’s “Dead Man’s Cell Phone” includes, from left, Marjorie Hazeltine (as Hermia), Kristin Walter (Jean) and Adrienne Walters (Carlotta).

Los Altos Stage Company opens its ...

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Spiritual Life

Inside Mountain View

MV actress/playwright Garvin wins NY festival award for

MV actress/playwright Garvin wins NY festival award for "Corners Grove"


Courtesy of Undiscovered Countries
Kaela Mei-Shing Garvin received a New York arts festival award for a featured role in “Corners Grove,” a play she wrote.

New York recognized that one of Mountain View’s own can “make it there” when the Planet C...

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News of debt deal rejuvenates market

Prodded by a last-minute budget deal in the U.S. Congress Thursday, the stock market rebounded, with the S&P 500 index and the Dow Jones industrial average surging on news of the federal government dodging default.

With the debt-ceiling crisis in the rearview mirror for now, the focus turns to corporate earnings. More than 140 companies on the S&P 500 are scheduled to report their earnings this week, and the market could assume a different posture.

The third-quarter earnings of big public companies announced so far are unimpressive. Although companies are beating their earnings estimates, it’s largely because they have lowered expectations.

While the lingering effects of the government shutdown and debt-ceiling brinksmanship are likely to weigh on near-term economic numbers, the market needs to look past these hiccups for the third-quarter earnings season to go well.

Two Town Crier “50” companies issued quarterly earnings reports last week.

• IBM Corp. ($173.29; IBM) shares tumbled after the market opened Thursday, hitting a two-year low of $174.53. IBM’s third-quarter revenue dropped, missing Wall Street forecasts by more than $1 billion.

The company reported net income of $4 billion, a 6 percent increase over the same period last year, but the company’s revenue dropped 4 percent to $23.7 billion, falling short of expectations.

The revenue shortfall prompted analysts to offer new price targets for the stock. A Jefferies analyst backed his hold rating but cut his price target to $190, while a Citicorp analyst maintained his buy rating but lowered his price target by $15. Barclays downgraded its rating from overweight to equal weight, reducing its low target price to $175.

• Intel Corp. (INTC; $24.06) released its third-quarter results last week. Despite beating expectations on a modest level, the current-quarter revenue outlook fell short and the company warned of delays with production of its upcoming Broadwell processors.

The company’s $3 billion profit was down 1 percent from a year ago, and sales of $13.5 billion were up a fraction at 58 cents per share. Analysts had predicted 53 cents per share on sales of $13.47 billion.

The world’s top chipmaker expects that the current Haswell PC processor, with improved battery life, will boost sales for the rest of 2013 but noted that preparations for the Broadwell chip are lagging.

Intel’s earnings are regarded as a barometer of the overall tech industry’s health. The chipmaker’s problems result from declining PC sales, the source of two-thirds of its revenue. Worldwide PC shipments in the third quarter fell 8.6 percent from last year.

In his third-quarter report, Intel CEO Brian Krzanich promised that sales of inexpensive tablets and computers would dominate the holiday season.

Intel’s upgrade and downgrade history is primarily a hold, with a few analysts deeming the stock an outperform. The median target price is $23, with a high of $30. The dividend yield is 3.9 percent.

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