Google selling Glass Internet eyewear in US

SAN FRANCISCO — Google’s Internet-linked eyewear — hotly anticipated by some, feared by others — is now available to anyone in the United States with $1,500 to spare and a yen to become an “explorer.”

The decision to open the “Glass” test, or beta, program on Wednesday to anyone with enough money and curiosity came about a month after a one-day sale of the eyewear to the public.

“We learned a lot when we opened our site a few weeks ago, so we’ve decided to move to a more open beta,” said a post on the Glass page at Google+ online social network.

“We’re still in the Explorer Program while we continue to improve our hardware and software, but starting today anyone in the US can buy the Glass Explorer Edition, as long as we have it on hand.”

In a possible sign of interest in the eyewear, the Glass page on the Google+ network has more than 678,000 followers and has been viewed more than 107 million times.

Google in March said it is joining forces with the frame giant behind Ray-Ban and other high-end brands to create and sell Glass Internet-linked eyewear in the United States.

The partnership with Luxottica was portrayed as Google’s “biggest step yet into the emerging smart eyewear market.”

Luxottica brands include Oakley, Alain Mikli, Ray-Ban and Vogue-Eyewear.

The first smart glasses by Luxottica for Google Glass will go on sale in 2015, the head of the Italian eyewear group said Tuesday.

- No ‘Glassholes’-

Google has been working to burnish the image of Glass, which has triggered concerns about privacy since the devices are capable of capturing pictures and video.

Google recently sent out a release to debunk what it claims are myths about Glass such as the ideas that it invades privacy, distracts wearers and is for “technology-worshipping geeks.”

“If someone wants to secretly record you, there are much, much better cameras out there than one you wear conspicuously on your face and that lights up every time you give a voice command, or press a button,” Google said.

“If a company sought to design a secret spy device, they could do a better job than Glass.”

During the Explorer testing phase, developers are creating apps for Google Glass, which can range from getting weather reports to sharing videos to playing games.

Google in February gave the early adopters a bit of advice: don’t be “Glassholes”.

It was the final suggestion in a recommended code of conduct posted online for the software developers and others taking part in the “explorer” program.

The Internet titan appeared intent on avoiding the kinds of caustic run-ins that have seen some Glass wearers tossed from eateries, pubs or other establishments due to concerns over camera capabilities built into devices.

Don’t be “creepy or rude (aka, a “Glasshole”),” Google said in a guide posted online for Explorer program members.

Glass connects to the Internet using Wi-Fi hot spots or, more typically, by being wirelessly tethered to mobile phones. Pictures or video are may be shared through the Google Plus social network.

source: interaksyon.com

NY hotel probes leaked video of Beyonce sister attacking Jay Z

A New York boutique hotel on Monday said it was investigating how a recording of a security video that purportedly shows rapper Jay Z being attacked by his sister-in-law, R&B singer Solange Knowles, was leaked to a website.

The video posted by celebrity website TMZ.com appears to show the 27-year-old Knowles, younger sister of Beyonce, charging and striking Jay Z several times in an elevator at the Standard Hotel in New York’s Meatpacking District before being restrained.

Beyonce looks on in the three-and-a-half-minute video without audio, which quickly became an internet sensation, sparking several parody videos and photos.

The three are seen dressed in clothing that they had worn to the Met Gala benefit on the night of May 5. But representatives for all three did not immediately respond to requests for confirmation of the incident.

The hotel, the venue for a post-gala party, promised to prosecute whoever was behind the recording, calling it a breach of security and guest confidentiality.

“We are investigating with the utmost urgency the circumstances surrounding the situation and, as is our customary practice, will discipline and prosecute the individuals involved to our fullest capacity,” the hotel said in a statement without naming Jay Z, Beyonce or Solange Knowles.

The Standard Hotel, which has locations in Los Angeles and Miami Beach, Florida, is controlled by hotelier Andre Balazs’ Standard International management company.

source: interaksyon.com

Banned Clippers owner Donald Sterling apologizes for racist remarks

LOS ANGELES – Los Angeles Clippers owner Donald Sterling has offered his first public apology for racist remarks that saw him banned for life from the NBA.

Two weeks after the NBA banned him from all league activities, fined him $2.5 million and began proceedings to strip him of his team, the 80-year-old real estate billionaire insisted he’s not a racist.

“I’m not a racist,” Sterling told CNN’s Anderson Cooper in an interview due to air Monday. “I made a terrible mistake. I’m here to apologize.”

The interview, excerpts of which were posted on CNN’s website, marks Sterling’s first public comments on the scandal since celebrity gossip website TMZ posted a 10-minute audio recording of him that sparked a firestorm in the league and beyond.

In the recording, Sterling is heard chastising his girlfriend for associating with black people and bringing black people to Clippers games.

The response was swift and fierce in the NBA, a league in which the majority of players are black.

The affair resonated outside of sports in a country that continues to grapple with racial issues.

Almost 20 sponsors severed or suspended ties with the team, and NBA Commissioner Adam Silver was widely applauded for his tough stance.

On Friday, the NBA named Richard Parsons, the former chairman of media giant Time Warner and Citigroup, as interim chief executive of the Clippers as the league pursues efforts to oust Sterling.

Such a move would require the approval of 75 percent of the other 29 team owners.

Although it’s thought the Clippers would sell for upwards of $600 million, Sterling’s past history of litigation has prompted speculation that he would resist selling in what could be a bitter legal battle.

In his interview with CNN, Sterling did not take a combative stance, but the longest-tenured owner in the NBA — he bought the Clippers for $12 million in 1981 — made it clear he wants to stay in the league.

“I’m a good member who made a mistake and I’m apologizing and I’m asking for forgiveness,” Sterling said.

“Am I entitled to one mistake, am I after 35 years? I mean, I love my league, I love my partners. Am I entitled to one mistake? It’s a terrible mistake, and I’ll never do it again.”

However, the scandal has prompted scrutiny of past accusations that Sterling discriminated against black, Hispanic and Korean tenants at some of his rental properties.

Sterling’s estranged wife, Shelly Sterling, was a co-defendant in two lawsuits that alleged discrimination, and the future of the Clippers is further clouded by her stated determination to maintain her ownership stake in the team.

In an interview with ABC News’ Barbara Walters airing on Sunday night, Shelly Sterling says she will “absolutely” fight to keep her stake in the team.

However, NBA spokesman Mike Bass responded with a statement outlining the league’s position that her ownership interest would be terminated along with her husband’s.

“Under the NBA Constitution, if a controlling owner’s interest is terminated by a 3/4 vote, all other team owners’ interests are automatically terminated as well,” Bass said.

“It doesn’t matter whether the owners are related as is the case here.

“These are the rules to which all NBA owners agreed to as a condition of owning their team.”

Clippers coach Glenn “Doc” Rivers is just one NBA figure who has said it would be better if neither of the Sterlings have an ownership role with the team.

Hall of Famer Earvin “Magic” Johnson, attending the Clippers’ home playoff game against Oklahoma City, said players wouldn’t play for Shelly Sterling.

“The players definitely wouldn’t like it, everybody would boycott,” Johnson told an ABC television interviewer.

source: interaksyon.com

Jordan reports its 5th MERS death

AMMAN - A man has died in Jordan after being infected with the MERS virus, the government said Monday, on the eve of a World Health Organisation emergency meeting on the disease.

The latest death brings to five the number of fatalities in Jordan from the Middle East Respiratory Syndrome coronavirus since it first emerged in 2012.

The man, in his 50s, worked in a private hospital and died on Sunday, the health ministry said.

The announcement came after Saudi Arabia on Sunday reported that three new deaths from MERS had taken its death toll from the disease to 142.

MERS has now infected 483 people in the Gulf kingdom since it first appeared in 2012, accounting for the vast majority of the 496 cases registered worldwide.

It is considered a deadlier but less-transmissible cousin of the SARS virus that erupted in Asia in 2003, infecting 8,273 people and killing nearly 800.

Like SARS, it appears to cause a lung infection, with patients suffering coughing, breathing difficulties and a temperature, but MERS differs in that it also causes rapid kidney failure.

Although most MERS infections have been in Saudi Arabia, cases have also been recorded in the United Arab Emirates, Jordan, Egypt, Lebanon and even the United States.

Most cases outside Saudi Arabia involve people who had travelled to the kingdom or worked there, often as medical staff.

The UN's health agency WHO is to hold an emergency meeting Tuesday to discuss the worrying spread of MERS.

"The increase in the number of cases in different countries raises a number of questions," WHO spokesman Tarik Jasarevic said on Friday, without elaborating.

source: interaksyon.com

Global Wi-Fi shipments to hit 18 billion in the next 5 years — ABI Research

MANILA, Philippines -– Global shipment of Wi-Fi is expected to grow by leaps and bounds in the following years due largely to the growth of the smartphone market and increasing connectivity of various tools and gadgets.

From an expected 2.6 billion total this year, Wi-Fi shipment is expected to hit a cumulative 18 billion from 2015 to 2019 according to New York-based ABI Research. In the present market, ABI Research said that Wi-FI is “the most ubiquitous technology for Internet Access.”

“There will be a roughly even split in 2019 for Wi-Fi chipsets of different integration levels,” said ABI Research director Philip Solis in a press release. “Standalone, or discrete, Wi-Fi chipsets — increasingly targeting the ‘Internet of Things’ — will be the largest group, followed by integrated platforms with Wi-Fi targeting mobile devices, followed by Wi-Fi combo chipsets.”



The Internet of Things

The Internet of Things is the term used to the current trend where various objects or even animals are able to automatically transmit data over a network without any form of human control, such as a heart monitor implant or a tracking device on free-range animals for location and identification.

ABI Research added that concurrent with the industry’s growth, Wi-Fi protocols will also continue to evolve, though the dual-band network is poised to dominate the market.

“By the end of the forecast period, dual-band will comprise the vast majority of chipsets shipped among all the protocols. Dual-band had a strong start in 2013 by surpassing 100 million shipments in the smartphone space alone, which accounted for a sizable fraction of the total shipped that year,” ABI Research said.

Tri-band, however, will also see “a strong ramp” during the next five years according to ABI Research.

“The natural progression of Wi-Fi into more capable protocols and new use cases will have a profound effect on the Wi-Fi chipset industry. Smaller players will try to make a land grab for market share while the established players will defend their turf,” ABI Research said.

source: interaksyon.com

Saudi hospital head sacked as MERS death toll hits 117

RIYADH - Saudi Arabia's acting health minister has announced the sacking of the head of a Jeddah hospital where a spike in MERS infections among medical staff sparked panic among the public.

The move, which Adel Fakieh published on Twitter late Tuesday, came after he inspected King Fahd Hospital's emergency department in the Red Sea city.

Hours after the news, health officials announced two more deaths from the Middle East Respiratory Syndrome coronavirus, bringing the toll to 117.


The victims were a 68-year-old woman in Jeddah, the kingdom's commercial capital, and a 60-year-old man died in Medina.

The Jeddah hospital was temporarily shut last month after several medics were infected by MERS.

And panic at the Red Sea city's main hospital prompted at least four doctors to resign in mid-April after they refused to treat MERS patients for fear of infection.

Nearly a week later, Riyadh dismissed the health minister and appointed Fakieh, who is labour minister, to take over the health portfolio on an acting basis.

Fakieh, who has repeatedly promised "transparency" over MERS, said he has replaced the head of the hospital and his assistants.

"The new team will immediately take up its duties," he tweeted, adding that "the ministry will take all decisive measures to achieve its goals in preserving the health of members of society."

Saudi Arabia has reported 431 infections since MERS first appeared in its eastern region in September 2012 before spreading across the kingdom.

Fakieh said last week that measures to contain the spread of MERS "will be announced in the coming days," as Western experts and representatives of the World Health Organisation met in Riyadh.

The WHO said Wednesday that a team of its experts completed a five-day mission to the kingdom "to assist the national health authorities to assess the recent increase in the number of people infected" in Jeddah.

Experts visited two main hospitals there and have found that the increase in cases are "due to breaches in WHO's recommended infection prevention and control measures," the UN organisation said.

It said that the recent increase in numbers of infections does not suggest a "significant change in the transmissibility of the virus."

So far, there is no evidence "of sustained human-to-human transmission in the community and the transmission pattern overall remained unchange," said WHO.

"The majority of human-to-human infections occurred in health care facilities," it said, adding that "one quarter of all cases have been health care workers."

The team called for improving "knowledge and attitudes" of health care workers about MERS.

MERS is considered a deadlier but less-transmissible cousin of the SARS virus that erupted in Asia in 2003 and infected 8,273 people, nine percent of whom died.

There are no vaccines or antiviral treatments for MERS, a disease with a mortality rate of more than 40 percent that experts are still struggling to understand.

Some research has suggested that camels are a likely source of the virus.

source: interaksyon.com

Clippers outgun Warriors in epic Game Seven shootout

LOS ANGELES — The Los Angeles Clippers overcame a week of turmoil and the Golden State Warriors to advance to the second round of the NBA playoffs.

Clutch free throws down the stretch and four starters with 20 or more points lifted the Clippers to a 126-121 victory in Game 7 of the Western Conference quarterfinals before a sellout crowd of 19,543 at the Staples Center.

“Because of the week, I’m going to remember this game for a long time,” Los Angeles coach Doc Rivers said.

Racist comments about African-Americans by Clippers owner Donald Sterling last weekend threw the franchise into disarray and resulted in Sterling being banned for life by NBA commissioner Adam Silver.

Sterling’s statements hung over the club like a dark cloud but lifted — at least temporarily — as the Clippers claimed a big win in an intense affair.

With the series on the line, the third-seeded Clippers prevailed with clutch free throws and baskets down the stretch to advance to the second round for only third time since the club moved to Los Angeles. They will face the second-seeded Thunder in Oklahoma City in Game 1 of the Western Conference semifinals on Monday.

“I’m just happy we pulled it out,” said Paul, who had 22 points, 14 assists, four steals and only two turnovers in 42 minutes. “It’s going to sound crazy, but it was all about tonight. Everythig else was in the past. We didn’t want to dwell on that stuff, and not to diminish how serious everything’s been in the past week or so, it was all about basketball tonight.”

Forward Blake Griffin led the Clippers with 24 points. Guard Jamal Crawford had 22 points and guard J.J. Redick added 20. Center DeAndre Jordan had 15 points and 18 rebounds.

Redick’s two free throws with 12.1 seconds remaining were the difference.

“They made the necessary plays in the last two minutes of Game 7,” said Golden State forward Draymond Green, who finished with 24 points, hitting 5 of 8 3-point shots and grabbing seven rebounds. “We gave ourselves a chance to win in the last two minutes. They made a couple of plays to pull away (and) we didn’t.”

Guard Stephen Curry had 33 points and nine assists for the Warriors.

“Looking at the matchup, we thought we had a shot in the series,” said Curry, who connected on 7 of 17 shots from the field, including 3 of 7 from behind the arc, and all 16 of his free throws. “It’s hard to say it’s a failure of the season, but we fought and left it all on the floor.”

Forward Andre Iguodala’s 3-pointer gave the Warriors a 107-106 lead with 4:27 left in the game, but Paul found Jordan for an alley-oop dunk to give Los Angeles a one-point advantage with 3:39 left.

Two free throws by Curry gave Golden State the lead again with 2:22 remaining before Griffin scored inside and drove home a Redick pass for a dunk for 112-109 lead with 1:54 left.

Jordan jammed a Paul miss with 1:15 left to give Los Angeles a five-point advantage before two free throws by Curry pulled Golden State to within 114-111.

Griffin scored inside on a circus move, pushing the lead to five again with 56 seconds remaining. Green hit one of two free throws to slice the margin to 116-112 with 46.4 seconds left.

Redick’s jumper made it 118-112, but Paul was called for a foul on a 3-point attempt by Curry. He hit all three free throws to cut the lead to three before Griffin found Jordan for a jam with 22:3 seconds remaining.

Green’s trey with 13 seconds left got the Warriors to within 120-118.

The Warriors came out blazing, shooting 72.2 percent from the field in the first quarter and 58.5 percent in the first half to take a 64-56 lead at the break. They also hit 9 of 13 (69.2 percent) from behind the arc compared with 3 of 11 (27.3 percent) for Los Angeles, which converted 51.3 percent (20 of 39) of its attempts from the floor.

Overall, Golden State converted 14 of 25 3-pointers (56 percent) and 49.4 percent (39 of 79) overall. The Clippers hit only 33.3 percent (8 of 24) of their treys and 55.4 percent (46 of 83) overall.

NOTES: Mark Jackson quickly dismissed speculation that he felt pressure that Game 7 might be his last as coach of the Warriors. “I take every day like if could be my last day doing everything, so it’s pressure every single day,” Jackson said. … This was the first time the Clippers hosted a Game 7. They had played in three overall, winning at Memphis in 2012 and losing at Phoenix in 2006. The franchise lost to the Washington Bullets in 1975 when it was the Buffalo Braves. … Golden State has not captured a Game 7 since May 14, 1975, when it defeated the Chicago Bulls in the Western Conference Finals en route to the NBA title by beating the Bullets.

source: interaksyon.com

George Clooney's fiancee to bring ex-President Gloria Arroyo's case to UN - Star columnist Pedrosa

MANILA – International human rights lawyer and Hollywood star George Clooney’s fiancée Amal Alamuddin has “committed to help former President (Gloria) Arroyo by advising her on her rights under international law” over her continued detention despite her deteriorating health, Philippine Star columnist Carmen Pedrosa said in her column that came out Sunday.

“This was not about power politics but about human rights and every individual was entitled to it,” Pedrosa said, quoting Alamuddin.

According to Pedrosa, Alamuddin’s mother, Al-Hayat foreign editor Baria Alamuddin, is her long-time friend she met in London while the columnist was in exile during the Marcos dictatorship.

She said the Lebanese-born British lawyer made this commitment during a recent visit to Pedrosa’s home in Manila after a speaking engagement in Singapore.

The 67-year-old Arroyo, a representative of Pampanga’s second district, is under hospital arrest at the Veterans Memorial Medical Center in Quezon City facing non-bailable charges of plunder.

Who is Alamuddin?

Before she gained international fame over the recent announcement of her engagement to Clooney, the Lebanese-born British lawyer has been a reputable international human rights lawyer.

In the past, she has represented Wikileaks founder Julian Assange in a human rights claim before the European Court of Human Rights in Sweden; Cambodia against Thailand in the territorial dispute over the Temple of Preah Vihear; Abdallah Al Senussi, former Libyan intelligence chief, in the case of alleged crimes against humanity before the International Court of Justice; and Yulia Tymoshenko, former Ukrainian prime minister, in the case against Ukraine.

Clooney has also taken up advocacies for peace in Sudan and Syria, which was what brought the couple together in the first place, Pedrosa said.

 “Amal will bring in the interest and the push needed in the world for human rights violations with George Clooney of Hollywood by her side,” the columnist said.

source: interaksyon.com

Beauty and the beach

The hashtag #LaBoracay2014 has gotten much attention on social media this week, with mixed reactions from all sectors — some are amused and excited, others are disgusted at the conspicuous display of bodies and bikinis this side of “thin-seltown.”

It’s  the peak of summer, if you haven’t noticed, ladies and gents, time to brighten up, get that Belo sunblock, take off your clothes (not all of them)) head over to our 7,107 beautiful islands and Instagram away. And don’t forget to hashtag.

Last week’s hottest beach shebang? #CenturySuperbods2014 drew a stellar mix of the country’s biggest stars, a standout selection of the best bodies and nonstop workouts to make sure we get to maintain that “transformation.” The T-word was the big buzz for the season, as everyone awaited the unveiling of a shirtless John Lloyd Cruz in Boracay.

Leading to that grand unveil was a Zumba-thon in the morning, with participants doing nonstop workouts. The BNO Boys hosted while everyone got possessed with the heat and sweat of the morning sun. I must compliment the transformation of the BNO Boys, who underwent the Century challenge and really showed great results! Credit for all the transformation goes to fitness coach Jim Saret and nutritionist Nadine Tengco, who I promise, will be my new best friends. Hello, Century!

I had promised everyone I was going to Zumba with them as soon as I woke up from the past night’s festivities, but I preferred to Zumba in bed — in my dreams. Must remind myself to be more disciplined, to think like a Superbod!

The best Superbods batch 

The White Party the night before was equally eventful. The #CenturySuperbods contestants were formally introduced by host Gelli Victor to the sizable media delegation present. It was not easy to have favorites since almost everyone looked like a winner — a truly spectacular and very international Superbods batch — half Italian, Dutch, Spanish, Chinese, American and pure Pinoy, too! From the point of view of someone who’s been judging this competition for a few years now, this is, indeed, the best #CenturySuperbods batch ever.

Joey Mead King, that rock star of a supermodel mentor and Asia’s top, top model herself, started the ball rolling as soon as she rocked that ramp and grabbed that mic. I am amazed each time she does her runway-slash-hosting duties — how she commands the floor and makes you sit up and take notice. She also coached the contestants with their walk and how to carry themselves best. The smooth styling of the show, directed by Robby Carmona, another stalwart in his field, was more than evident in how fast-paced it was. Never a dull moment, each segment was a highlight! Standouts in the audience were Nanette Medved-Po, forever a vision in pristine style, and Marielle Santos-Po, wearing Rajo Laurel’s Palawan summer collection.



Then came Anne Curtis, and the world stopped. She put one leg out in her flowing Charina Sarte lapis lazuli beach dress and owned the stage like no one else can. This was the perfect lead-up to the night’s transformatory unveil. A cleanly unshaven John Lloyd Cruz walked onto the center of the stage. Everyone went wild. He then took his floral buttoned shirt off, waved it to the crowd, to reveal him wearing a sando — a leaner, meaner John Lloyd Cruz, “macho” dancing in front of the audience. “From Superbad, I’m now a Superbod!” Even in these “heated” circumstances, JLC’s sense of humor shines through.

“Why didn’t John Lloyd take his shirt off?” ranted some of my followers on social media. Because he didn’t have to. Transformation doesn’t mean abs. It means a change in mindset and lifestyle. It is both internal and external. He went on a strict diet, lost close to 20 lbs. and looks happier and healthier. In the end, that should be the goal — to be happy and healthy. Abs optional.

Postscript to the announcement of winners after a few months of intense training and grueling challenges — Mario Lumba and Sara Polverini emerged as this year’s #CenturySuperbods. The runners-up and the special awards went to the other early favorites, who, I must say, made judging this year extra difficult but extra pleasurable.

And then fun times at the after party at The District with DJ Mars Miranda. Time to take a dip in this Labor Day weekend sun. But I won’t take my shirt off.

source: philstar.com

Twitter stock slumps 50% as Goldman, Deutsche Bank still say `buy’

Twitter Inc investors who heeded the advice of high-profile banks such as Goldman Sachs Group Inc and Deutsche Bank AG to buy the social media company’s shares might be kicking themselves.

Much more accurate calls were made by Wells Fargo, Atlantic Equities and Macquarie Research, whose analysts advised clients to get out of the high-flying stock about the time it peaked in December.

On Wednesday the stock fell as low as $37.24, 50 percent below its peak of $74.73 the day after Christmas, wiping almost $18 billion off Twitter’s market capitalization.

The downgrades, and the subsequent swoon by the stock, reflect concern about slowing growth in Twitter’s user base and the company’s ability to reverse the trend. Year-on-year growth in the number of Twitter users has fallen for five straight quarters, and the company said on Tuesday that its 255 million monthly users, on average, appeared to check the service less frequently than a year ago.

That in turn has fueled doubts that Twitter could one day attract as many users as Facebook Inc’s 1.2 billion, or match its much larger rival’s power as an advertising vehicle. It’s also raised questions over whether it can sustain growth over the long term. While no one is suggesting Twitter will lose its consumer cachet as happened to companies such as MySpace or Orkut, neither can anyone guarantee that as tastes change newer rivals won’t usurp it.

“Can they become a mainstream company? That’s the open question,” said Ben Schachter, the Macquarie Securities analyst who downgraded Twitter’s stock to “underperform” on December 27 – the day after it peaked.

It’s a far cry from the enthusiasm that greeted the company when it debuted on the New York Stock Exchange on November 7 and its shares soared 73 percent over the offering price. There was no let-up for the next two months, as the stock scaled fresh highs with little or no news to justify the valuation.

That got some analysts worried. Schachter, speaking to Reuters on Thursday, recalls a “runaway momentum.”

Starting mid-December, seven brokerages downgraded the stock within a span of three weeks. Wells Fargo and SunTrust Robinson kicked off the first round of downgrades on December 16, followed by Atlantic Equities. Macquarie timed its downgrade to perfection.

In his downgrade note on December 16, Wells Fargo analyst Peter Stabler said investors were “underestimating the challenges facing the company”.

A common theme was that Twitter, though innovative, well-run and full of potential, simply did not warrant such a rich valuation, so soon.

“They are focusing on the right things. I only have positive things to say about the company. My quibble is with the stock,” said Brian Wieser, Pivotal Research Group analyst, who was among the first to urge clients to retreat.

He downgraded the stock to “sell” immediately after Twitter’s shares jumped on its opening day. At the time, he had a $30 target price on the stock and recommended selling after they breached the $45 level in their market debut.

The risks
Twitter said in 2010 that it aims one day to have 1 billion users. It did not specify a time frame.

Some of the analysts who downgraded the stock in December are not as confident in Twitter’s long-term outlook, much of which will hinge on the company’s ability to increase both the number of users and how much time they spend on the site.

A fast-growing and engaged user base would help Twitter rake in more advertiser dollars; however, those are issues over which management has limited control, Atlantic Equities analyst James Cordwell said in December.

Investor worries were reflected in the response to Twitter’s quarterly results this week, when the market overlooked higher-than-expected revenue to focus instead on the slow user and usage growth. Twitter’s shares fell 10 percent.

The expiration on May 5 of Twitter’s six-month “lockup” – the period after the initial public offering during which early investors are barred from selling their shares – could put the stock under more pressure. Restrictions on about 470 million shares will be removed.

Twitter’s co-founders, Jack Dorsey and Evan Williams, and Chief Executive Richard Costolo have said they do not plan to sell their shares after the post-IPO restrictions are lifted.

Only one other major investor, Benchmark Capital Management Co LLC, which owns 31.6 million shares, has publicly stated that it will not sell the stock when the lock-up expires.

“Despite some key investor and executive statements that they will not sell near term, we estimate that 50-70 percent of shares could be unlocked,” JPMorgan Chase & Co analyst Doug Anmuth said in a research note on April 30.

The other camp
Still, Goldman and Deutsche Bank, both underwriters of the high-profile IPO, maintain their positive views of the stock, in spite of the user trends, two consecutive quarters of disappointing results and the decline in its shares.

Twitter shares trade at 334.2 times forward earnings, far more than Facebook’s 38.1 times, according to StarMine, or the average of 17.95 for the Standard & Poor’s 500 Index, according to Thomson Reuters data.

“The company continues to execute near-flawlessly around items in its control like revenue and expenses,” Deutsche Bank analyst Ross Sandler wrote in a note on Thursday, a day after Twitter posted its second-quarter results. Sandler didn’t immediately return a phone call and an e-mail. Goldman Sachs analyst Heath Terry was traveling and not available for comment, his assistant said.

Sandler said market sentiment would eventually shift away from users toward revenue growth. Facebook, he argued, also struggled with slow user growth last year before regaining Wall Street’s favor thanks to its strong mobile ad business.

Schachter, the Macquarie analyst, says much will depend on how successful Twitter will be in revamping its site to attract mainstream users.

“They are executing well in terms of innovation, but the user growth is a bit of a concern,” he said. “The hope is that they can change the site, to make it more user-friendly.”

source: interaksyon.com