Tuesday, March 19, 2013

Rare whale skeleton discovered on ocean floor

For the first time ever, scientists say they have discovered a whale skeleton on the ocean floor near Antarctica. Resting nearly a mile below the surface, the boneyard is teeming with strange life, including at least nine new species of tiny of deep-sea creatures, according to a new study.

Though whales naturally sink to the ocean floor when they die, it's extremely rare for scientists to come across these final resting places, known as "whale falls." Discovering one typically requires a remote-controlled undersea vehicle and some luck.

"At the moment, the only way to find a whale fall is to navigate right over one with an underwater vehicle," study researcher Jon Copley, of the University of Southampton in England, said in a statement. The team's chance encounter with a 35-foot-long (10.7 meter) spread of bones that belonged to a southern Minke whale came as they were exploring an undersea crater near the South Sandwich Islands.

"We were just finishing a dive with the U.K.'s remotely operated vehicle, Isis, when we glimpsed a row of pale-coloured blocks in the distance, which turned out to be whale vertebrae on the seabed," Copley explained.

When whales die and sink to the ocean floor, their carcasses provide nutritional boosts and habitats for deep-sea life. Though their flesh decomposes within weeks, whale bones can last anywhere from 60 to 100 years, supporting bacteria and strange creatures like zombie worms, which are mouthless, eyeless animals that feed off the skeletons.

"The planet's largest animals are also a part of the ecology of the very deep ocean, providing a rich habitat of food and shelter for deep sea animals for many years after their death," said Diva Amon, another University of Southampton researcher. "Examining the remains of this southern Minke whale gives insight into how nutrients are recycled in the ocean, which may be a globally important process in our oceans."

The Antarctic whale fall, thought to have been on the seafloor for several decades, was surveyed using high-definition cameras, and samples were collected to be studied back on land. The team encountered several new species of sea snails and worms that were living off the bones. They found a new species of isopod crustacean, similar to woodlice, crawling over the skeleton, according to a statement from the U.K. National Oceanography Centre. The researchers also found an undescribed species of zombie worms (Osedax), which could help scientists study how the mysterious species has managed to become surprisingly diverse and widespread. (They've been found in whale falls in the eastern and western Pacific as well as the North Atlantic.)

"One of the great remaining mysteries of deep ocean biology is how these tiny invertebrates can spread between the isolated habitats these whale carcasses provide on the seafloor," Adrian Glover, a researcher at the Natural History Museum in London, said in a statement.

A recent study suggested that the sex strategy of zombie worms is the key to their success. Females of the species Osedax japonica quickly mature and then constantly produce eggs that harems of dwarf males fertilize, scientists found. What's more, zombie worm larvae can swim actively for at least 10 days before settling on bones on the ocean floor, according to the new research, detailed last month in the journal Naturwissenschaften.

The study of the whale fall was recently published online in the journal Deep-Sea Research II: Topical Studies in Oceanography.

Email Megan Gannon or follow her @meganigannon. Follow OurAmazingPlanet?@OAPlanet, Facebook?and Google+. Original article on LiveScience's OurAmazingPlanet.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.yahoo.com/antarctics-first-ever-whale-skeleton-found-211259247.html

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Sunday, March 17, 2013

Tornado anniversary events bring Dexter community members together

Across town, more than 300 people participated in LaFontaine Chevrolet's One Year Strong , a second community-wide event on Friday that gave the Dexter area a chance to reflect on the first anniversary of the tornado that damaged hundreds of homes.

Organizers of both events said they showed that amid the damage caused by the tornado, one lasting effect was an even stronger sense of community.

"It was a nice first year," said Bob Jazwinski, who organized the run. "We did it because we knew we could make some money for the organizations that helped out with the tornado."

Those organizations include the Dexter Relief Fund, Faith In Action, Poured Out, Hudson Mills Metro Park, and many others.

"With the turnout, we?re going to be able to give more people some type of money," Jazwinski said. He estimates at least $10,000 will go to groups helping with tornado damage.

Giving back was important to Jazwinski because over half of his home was destroyed by the tornado. He and his wife, Katie and their three children were able to move into their refinished house only within the last month.

"Everyone who lived in Dexter was affected by the tornado," Jazwinski said. "It?s not one person more than another. It was pretty traumatic for everyone."

Matt and Heather Leszczynski, who lost their home to the tornado but were able to rebuild it by November, both participated in the 5K.

"It was a great idea," Leszczynski said. "I?m really impressed and humbled by how many people showed up."

At LaFontaine, Quaila Pant, the dealership's business coordinator, said staff had to purchase a second box of hotdogs, because the first box of 250 wasn't enough to cater the event.

"We've had a big turnout," said Matt LaFontaine, the dealership's general manager.

Families were encouraged to bring in pictures for a community scrapbook, which will be displayed at the Dexter Area Historical Society and Museum.

"People seem to take a lot of comfort from getting together," said Nancy Paul, director of Faith In Action. "It really is emotional for people."

Dexter Relief Fund, which has distributed more than $300,000 worth of aid to affected families, was at the event accepting applications for trees to revitalize the lawns of affected families.

It was a reminder of how much the community has worked to recover from the tornado and how much left there is to do.

"There's still a handful of people who are not in their houses yet or who've gotten in them in the last few weeks, so that's pretty shocking," Paul said. Paul, who sits on the fund's committee, said it has about $37,000 left. Some of that money will be used for trees and some will be used to pay SunGlo to vacuum up debris that is embedded in people's yards.

"The best thing we can do is help people who've still got glass in their lawn," she said.

Urban Ashes was also at the event, selling $38 frames made from the wood of trees that fell during the tornado. Proceeds were to go to the fund.

At the entrance to the dealership, David Innis, a student at Dexter High School, stood with a video camera, inviting people to share testimonials of how the tornado affected them.

"A lot of them say where they were, who they were with, what they were feeling," he said. "A lot of them said it was scary. It was a really traumatic event for Dexter."

Erik and Julie Cabble, whose home suffered $60,000 worth of damages when the tornado hit, were at the One Year Strong event with their three daughters.

"I think it's really great," Cabble said. "LaFontaine is an example of what a great place Dexter is and how a community pulls together after an event like that."

At Hudson Mills, Jazwinski echos that theme.

Jazwinski said he wants to hold the 5K every year in order to continue support for the nonprofit organizations that help the Dexter community.

"We will always give back to the nonprofit organizations that stand up for everyone," he said.

Source: http://www.annarbor.com/news/dexter/for-members-of-the-dexter/?cmpid=RSS_link_dexter

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Kenya police tear gas supporters of prime minister

NAIROBI, Kenya (AP) ? Police in Kenya have fired tear gas on crowds in the capital who gathered in support of Prime Minister Raila Odinga.

Odinga on Saturday planned to file a case with the Supreme Court over what he says is massive fraud that took place during the country's March 4 election.

Uhuru Kenyatta won the election with 50.07 percent of the vote. Saturday is the last day Odinga can file a petition to protest the result.

Kenya's election has been largely peaceful, unlike the 2007 vote that sparked two months of violence that killed more than 1,000 people.

The police had warned Odinga supporters that they would not allow them to gather Saturday. An Associated Press reporter at the scene said the supporters were not demonstrating or being violent when fired on.

Source: http://news.yahoo.com/kenya-police-tear-gas-supporters-prime-minister-091320154.html

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Swarm intelligence: New collective properties of swarm dynamics uncovered

Mar. 15, 2013 ? A new study of animal swarms uncovers some new features of their collective behaviour when overcrowding sets in.

Swarming is the spontaneous organised motion of a large number of individuals. It is observed at all scales, from bacterial colonies, slime moulds and groups of insects to shoals of fish, flocks of birds and animal herds. Now physicists Maksym Romenskyy and Vladimir Lobaskin from University College Dublin, Ireland, have uncovered new collective properties of swarm dynamics in a study just published in EPJ B. Ultimately, this could be used to control swarms of animals, robots, or human crowds by applying signals capable of emulating the underlying interaction of individuals within the swarm, which could lead to predicted motion patterns elucidated through modelling.

The authors were inspired by condensed matter models, used for example in the study of magnetism, which were subsequently adapted to be biologically relevant to animal swarms. In their model, in addition to the ability to align with its neighbours, each model animal is endowed with two new features: one for collision avoidance and another preventing direction change at every step to ensure persistence of motion. The team performed computer simulations of up to 100,000 self-propelled particles, each mimicking an individual animal and moving at a constant speed on a plane surface.

They found that when the swarm becomes overcrowded, the globally ordered motion breaks down. At high density and when the nearest neighbours are within one step of each other, each animal can no longer decide on the safe direction of motion. Instead, it is busy correcting its motion to avoid collisions.

They also described, for the first time, a power law that quantifies the average degree of alignment in the direction of motion for animals within the swarm. The law describes how the alignment decays from the centre of the swarm, where animals can best judge the swarm motion due to their maximum number of neighbours, to the periphery.

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The above story is reprinted from materials provided by Springer Science+Business Media, via AlphaGalileo.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. Maksym Romenskyy, Vladimir Lobaskin. Statistical properties of swarms of self-propelled particles with repulsions across the order-disorder transition. The European Physical Journal B, 2013; 86 (3) DOI: 10.1140/epjb/e2013-30821-1

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_environment/~3/ucQGEltw8Fw/130315095921.htm

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Saturday, March 16, 2013

Strawbale home: Dreams bring responsibilities.

Building and birth seem to carry common themes. The hope, the waiting, the pain and sweating, and then, (all going well), the moment of joy when hope becomes reality.
It's a girl/semi-detached bungalow!
About six weeks ago a friend asked how the build was going and I said "I'm in the transition stage of labour. Basically it's come to "JUST GET IT OOOUT! Except the baby is a house."
My friend winced, then blushed. We were in a cafe and I had shouted rather loudly. But I was fed up.
It had been well over a year of working every weekend and two days of the working week. Almost eighteen months of hard decisions, financial pressures and trying to balance home, kids and a building project. It had been a long haul. I wanted my hobbies back. I wanted to wake up on a Saturday morning with the question "What shall we today?" remaining delightfully open.

Two weeks ago, I was feeling different.?I'd moved on.
It had been a really hard week with conflict with our builder and hard decisions.
What I had now, I explained to Timshel, was more of a post-labour feeling. Perhaps the feeling of being through a hard, long, painful labour that went of for days and days. Your eyes are black from pushing and you have stitches in places where you didn't know stitches could be. You have a new knowledge of pain that makes you see the world with a little less innocence. This shocks you. This aches about as much as your body. But you have this baby. This beautiful beautiful baby. A raw thankfulness springs up and makes your throat sore. A feeling of wonder and gratitude sings loudly. It's the main chorus, it's a loud song. But underneath there is a quiet whisper.?"I hope this is worth it. I hope I forget this pain."

I've cheered up since.

It's two weeks till we leave our rental. The house is unfinished. We are trying to finish the two back bedrooms before their carpet arrives in just over a week. The other rooms remain unpainted, with no final coat of render and unsealed floors. Trenches are being back-filled in the next few days and we hope to get Mick, our Bobcat man, to smudge the dirt into something resembling a potential lawn. Power points are going in on Monday, and lights on Tuesday. On Wednesday the header water tank is being craned onto the it's stand which will deliver water pressure and, if successful, a rousing cheer for Murray, our friend with a crane.

It's not quite how I envisaged it. So much is undone or incomplete and there have been a few disappointments along the way. (We tested our concrete sealer on a few floors. It's not what I expected but that's another post.) I suppose I was hoping that we'd move out of our rental into a new, finished house with everything done and dusted. It's a silly expectation given the number of people who build their own house and end up camping in a small corner of it. Every second person seems to have a story about walking on joists to get their weeties. I should just harden up, I know. My excuse is that I have completionist tendencies. If a strawbale house is, as Pearl and Elspeth say, a really big family craft project then moving in with it still unfinished is like lovingly crocheting your cardigan and then leaving the house with one arm unfinished. It just feels sooo wrong.
However, I have come up with an antidote to the wrongness feeling. It's this.

The house, whatever is state of completion is ours. OURS! No-one can evict us. If there a problem we can choose how, and when, to solve it. We can paint it however we like, keep planting bulbs and trees, and chip away at things in our own sweet time. I do feel a raw thankfulness. Both for our house, and for the 'us'. It?might be unfinished but it's OUR unfinished house.?Back to the birth analogies, I feel like I'm cuddling a lusty, red, squawling newborn to my chest and yelling above the din?"Well, 'e might be ugly but 'e's MINE, innit!?!"
It is a loud and happy song.

Source: http://buildingwithstraw.blogspot.com/2013/03/dreams-bring-responsibilities.html

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Regime clamps down in Damascus for anniversary

In this image taken from video obtained from the Shaam News Network, which has been authenticated based on its contents and other AP reporting, smoke rises from buildings due to heavy shelling in Maadamiyeh south of Damascus, Syria, on Thursday, March 14, 2013. (AP Photo/Shaam News Network via AP video)

In this image taken from video obtained from the Shaam News Network, which has been authenticated based on its contents and other AP reporting, smoke rises from buildings due to heavy shelling in Maadamiyeh south of Damascus, Syria, on Thursday, March 14, 2013. (AP Photo/Shaam News Network via AP video)

BEIRUT (AP) ? Syrian authorities on Friday beefed up security measures in Damascus as rebels fighting to topple President Bashar Assad urged supporters to mark the second anniversary of the country's uprising by stepping up attacks against the regime.

The revolt against Assad's authoritarian rule began in March 2011 with protests in the southern city of Daraa, after troops arrested teenagers who scrawled anti-regime graffiti on a wall. It has since morphed into a civil war with an estimated 70,000 people killed, according to the U.N.

On Friday, some rebels called for stepped-up attacks to mark the anniversary. The banned Islamist Muslim Brotherhood group urged supporters for a "week of action" on the occasion but didn't specify what it would do.

A Damascus-based activist who identified himself as Abu Qais said troops increased patrols and security searches in the country's capital. He spoke on condition his real name not be used for security concerns.

Meanwhile, in neighboring Lebanon, gunmen set fire to three fuel tankers with Syrian license plates to prevent them from crossing into Syria, the state-run National News Agency said.

The Lebanese agency said the incident occurred in the northern city of Tripoli, and that the tankers were carrying fuel when they were stopped by the protesters and later set on fire. No casualties were reported.

Protesters have in the past closed roads to keep tankers from crossing into Syria, where there are severe gasoline and diesel shortages. They claim diesel exported to Syria is being used by regime tanks.

Many among Lebanon's Sunni Muslims have backed Syria's mainly Sunni rebel forces, in which radical Islamists have become increasingly active. Lebanese Shiite Muslims, including the militant Hezbollah group, have leaned toward Assad, whose tiny Alawite sect is an offshoot of Shiite Islam.

Separately, the Syrian Foreign Ministry complained in a letter sent to the Lebanese government on Thursday that armed groups have tried to infiltrate Syria from Lebanon repeatedly in the past 36 hours, triggering clashes with border guards.

Damascus said Syrian troops have exercised "utmost self-restraint" until now but warned that "this would not continue endlessly."

Also Friday, at least eight Syrians were killed and 29 were injured when the bus they were traveling in from Syria overturned in the mountains in central Lebanon, officials said. The bus was headed to the Lebanese capital, Beirut, when the accident occurred in the Kahhaleh region.

George Kettaneh, operations director for the Lebanese Red Cross, said the casualties included women and children. He said it's unclear why the bus overturned.

It was not immediately known whether the Syrians where refugees fleeing the violence at home. The bus had Syrian license plates from the northeastern Hassakeh province, which recently witnessed heavy clashes.

More than 1 million Syrians have fled the country's civil war to seek shelter in neighboring countries. In Lebanon alone, the U.N. has registered more than 360,000 Syrian refugees.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-03-15-Syria/id-bd11155f2d794078b1df96698e186f8f

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Thursday, March 14, 2013

Chase Bank site attacked, suffers intermittent outage

The website of Chase Bank was inaccessible on Tuesday because of a denial-of-service attack. The initial service interruption to Chase.com lasted about 90 minutes, from about 5 to 6:30 p.m. ET.

When the site did load intermittently during that time, it displayed a warning that the website was unavailable and users should try again later.

Chase confirmed that the outage was due to a denial-of-service attack, in which attackers bombard websites with an overwhelming amount of traffic, overloading their servers and causing sluggish performance or a complete loss of service.

The hacking group taking responsibility, which calls itself al-Qassam Cyber Fighters, announced its intentions to hack a number of banks in this manner several months ago, and has targeted Bank of America, Citibank, Capitol One, and others. The group cites what it sees as U.S. refusal to remove a YouTube video grossly offensive to those who practice Islam.

The video in question is "Innocence of Muslims," a film trailer depicting the prophet Muhammad as, among other things, a murderer and pedophile. Muslim states such as Egypt and Yemen have called for the video to be removed, but Google-owned YouTube has said the video is well within its guidelines. Although Hillary Clinton, former Secretary of State, described the video as "disgusting and reprehensible," she supported the decision, as representative of the U.S.'s commitment to its citizens' right to free expression.

Al-Qassam Cyber Fighters have pledged to discontinue their attacks if the video is removed, or if the conditions of a complicated formula are met regarding the video's like and dislike counts.

UPDATE: Following the publication of this article, Chase.com manifested continued outages, appearing more often for some than others. As of this writing, the site is not loading at all, and while the site was up, banking services were not yet restored.

UPDATE 2: Chase.com is back to full functionality. The bank apologized on Twitter for the "rough day."

Devin Coldewey is a contributing writer for NBC News Digital. His personal website is coldewey.cc.

Source: http://www.nbcnews.com/technology/technolog/chase-bank-site-attacked-suffers-intermittent-outage-1C8832805

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Millions still lack access to modern contraception - 8 News NOW

MONDAY, March 11 (HealthDay News) -- The number of women worldwide using modern contraceptive methods such as birth control pills is increasing, but an estimated 233 million women with partners may not have access to these methods in 2015, a new study suggests.

That means these women would have to rely on traditional contraceptive methods, such as not having sex or withdrawal of the penis before ejaculation.

Researchers analyzed data from 1990 to 2010 about women of reproductive age (15 to 49) in 194 countries and found that the use of contraception by married women increased from 55 percent to 63 percent during that time, while the unmet need for contraception fell from 15 percent to 12 percent. (Women with unmet need are those who want to delay or stop childbearing but aren't using any method of birth control to prevent pregnancy.)

However, because of population growth and other factors, total worldwide demand for contraception is projected to grow from 900 million in 2010 to 962 million in 2015. Increased spending on family planning will be needed to provide modern contraception methods to 233 million who would otherwise not have access to them, said the researchers at the United Nations Population Division and the National University of Singapore.

The largest increases in modern contraceptive use (more than 15 percent) between 1990 and 2010 were in southern Asia and eastern, northern and southern Africa. However, in central and western Africa, use of contraception by married women remained low, according to the study, published online March 11 in The Lancet.

During that same period, the reduction in unmet need for contraception was greatest in central America and northern Africa, where it fell by 9 percent. Most countries had stable or reduced rates of unmet need, but more than 20 percent of married women in eastern, central and western Africa still had an unmet need in 2010.

Worldwide, an estimated 146 million married women had an unmet need for modern contraception in 2010, a figure that increases to 221 million if women using traditional birth control methods are included, the study said.

"It is of concern that contraceptive use remains very low in many African countries," John Cleland, a professor at the London School of Hygiene & Tropical Medicine in England and author of an accompanying editorial, said in a journal news release. Cleland said the countries of Chad, Mali and Mauritania will likely experience a tripling of population size by mid-century, which will present an impossible burden on their fragile ecosystems.

"Expansion of community-based services is a priority but of equal importance is the need to address social opposition to contraception by mass media and efforts to engage the support of religious and local leaders," he added.

More information

The World Health Organization has more about family planning.

Health News Copyright ? 2013 HealthDay. All rights reserved.

Source: http://www.8newsnow.com/story/21583469/millions-still-lack-access-to-modern-contraception-study-says

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Friday, March 8, 2013

Google Brings Its Local Discovery App ?Field Trip? To The iPhone

google field trip iosGoogle's location-based?Field Trip?application has just made its way to the iTunes App Store today, after previously having been Android-only. The app, which works a little bit like Google Now, runs in the background on your phone then automatically shows you information about nearby businesses, including places to shop, dine, and be entertained.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/8Igj023OlIQ/

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Canon Pixma MX522 Wireless Office All-In-One Printer


Basically a beefed-up version of the Canon Pixma MX452 Wireless Office All-In-One Printer that I recently reviewed, the Canon Pixma MX522 Wireless Office All-In-One Printer adds enough extras to easily justify the higher price. Most notably, it adds an Ethernet port, a duplexer (for two-sided printing), a color LCD for the front panel menu, and the ability to print from a USB memory key. The extras make it that much more attractive as either a personal printer in any size office or for the dual role of home and home-office printer.

Like the Canon MX452, the MX522 can print and fax from, as well as scan to, a PC, and it can work as a standalone copier and fax machine. For scanning, it offers the same capability as well, with a letter-size flatbed supplemented by a 30-page automatic document feeder that can handle legal size pages. It also offers the same ability to scan to a USB key, but adds printing from a USB key as well, with the ability to preview the files on its 2.5-inch color LCD.

In theory, given that the MX522 offers both Ethernet and Wi-Fi, you can use it as a shared printer. In practice, however, its 100-sheet paper capacity limits its usefulness for sharing, except for the dual roll of home and home-office printer. Even by micro-office standards, a 100-sheet input tray is likely to empty out often enough to make refilling it a minor annoyance. Very much on the plus side, if you need to print duplex documents even occasionally, the automatic duplexer is a welcome convenience.

Other conveniences worth mention are support for printing through the cloud and support for AirPrint. You can't connect directly to the printer by Wi-Fi to use AirPrint, however. The printer and your phone or tablet will have to connect through a Wi-Fi access point on your network. One other convenience, primarily for home use, is Wireless PictBridge for printing wirelessly from a camera. However, the feature works only with select Canon cameras.

Setup, Speed, and Output Quality
For my tests, I connected the printer to a wired network and installed the drivers and software on a Windows Vista system. Setup was standard fare.

Unfortunately, print speed is not one of the MX522's strong points. When I reviewed the MX452, I pointed out that it was a little slow, but not unusually slow for the price. The MX522 isn't any faster. Given that it costs more, however, the speed is more of an issue.

Canon Pixma MX522 Wireless Office All-In-One Printer

On our business applications suite, I clocked the MX522 (using QualityLogic's hardware and software for timing) at the same 2.1 pages per minute (ppm) as I got for the MX452. In comparison, the similarly priced Editors' Choice Epson WorkForce WF-3520was more than twice as fast, at 4.4 ppm. Photo speed was also slow, averaging 2 minutes 9 seconds for a 4 by 6. The WF-3520 came in at just 1:12.

As with the Canon MX452, the MX522 does much better on output quality than on speed. It delivered better text in my tests than most inkjet MFPs, par quality for graphics, and just barely par quality for photos.

That makes both text and graphics good enough for most business needs, with the graphics output easily suitable for PowerPoint handouts and the like. Depending on your level of perfectionism, you may or may not consider the graphics quality good enough for output going to an important client or customer when you need it to look fully professional. Photo quality is roughly a match for the low end of what you would expect from drug store prints.

I'd like this printer a lot more if it offered higher paper capacity and better speed. However, it balances its shortcomings in both with its output quality for text and graphics and its full set of office-oriented MFP features, including the ADF, duplexer, standalone and PC-based faxing, and ability to scan to and print from a USB key. If you need more heavy-duty printing, be sure to look at the Epson WorkForce WF-3520. But if you don't print a lot of pages, the Canon Pixma MX522 Wireless Office All-In-One Printer can serve nicely for light-duty print needs with an emphasis on output quality.

More Multifunction Printer Reviews:
??? Canon Pixma MX452 Wireless Office All-In-One Printer
??? Canon Pixma MX522 Wireless Office All-In-One Printer
??? Dell B3465dnf Multifunction Laser Printer
??? HP LaserJet Pro 200 color MFP M276nw
??? Canon Pixma MG5420 Wireless Photo All-In-One Printer
?? more

Source: http://feedproxy.google.com/~r/ziffdavis/pcmag/~3/ia0rJn_rKhE/0,2817,2416287,00.asp

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Panmure downgrades online gaming firm 888 Holdings to 'hold ...

?

City firm Panmure has downgraded global online gaming group 888 () to 'hold' from 'buy' though it has upped the target price slightly.

It comes despite the firm reporting an increase in net revenue, up 7% to US$97.5mln in its fourth quarter, and ahead of the broker's expectations of US$96.1mln.

Panmure analyst Simon French noted that the firm was trading on 2013 estimates of an 11.9 times enterprise value/ EBITDA, which accurately captured the group's momentum but highlighted:

"This week 888 has launched its real money casino, MAGIC888 on and been recommended for approval as an interactive gaming service provider licence holder in Nevada.

"It has also seen its share price surpass the IPO price and been shortlisted for re-entry into the FTSE 250."

"However, concerns are emerging over the depth and breadth of its software agreements with Caesar's Interactive Entertainment, whilst trade media have reported that talks with Trump Resorts have ended."

The firm became a partner of Caesar's Entertainment in 2011 for legal European online gaming businesses.

The firm is due to issue prelims next Wednesday and consensus forecasts are for US$65.7mln EBITDA.

Panmure increased its target price to 157p from 145p and downgraded its rating to 'hold' from 'buy'.

?

Source: http://www.proactiveinvestors.co.uk/companies/news/54569/panmure-downgrades-online-gaming-firm-888-holdings-to-hold-54569.html

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