The Ticker

HubSpot prices shares at $25 for today's IPO

Cambridge-based HubSpot, an inbound marketing and sales software company, last night priced its initial public offering at $25 a share, above the expected range of $22 to $24 a share.

The 5 million common shares are expected to begin trading on the New York Stock Exchange today under the ticker symbol "HUBS."

Stock market has best day of the year

The stock market surged yesterday, erasing a steep loss from the day before, as investors reacted to minutes from the Federal Reserve's latest policy meeting, which showed that the central bank wants to keep interest rates extremely low for the time being.

The Dow Jones jumped 274.83 points, or 1.6 percent, to 16,994.22. The Standard & Poor's 500 index added 33.79 points, or 1.8 percent, to 1,968.89 and the Nasdaq composite rose 83.39 points, or 1.9 percent, to 4,468.59. All three indexes had their biggest point and percentage gains of the year. The Dow's jump was its biggest gain of the year.

AT&T to pay $105M for phone charges

AT&T Inc. agreed to pay $105 million, including $80 million in consumer refunds, to settle federal and state investigations that the company illegally billed mobile phone customers for unauthorized charges for ringtones and other services, officials said.

The practice, known as mobile cramming, involved hundreds of millions of dollars in charges for third-party services, the Federal Trade Commission said.

Massachusetts will receive more than $327,000 as part of the settlement.

Newton couple charged in $5.4M fraud

Secretary of State William F. Galvin has charged a Newton couple with fraud for allegedly failing to disclose important information to real estate investors, including their lack of experience and conflicts of interest.

Eileen and Lawrence Schwartz and their investment firm E. S. Schwartz & Co. allegedly misled clients into thinking they had experience in various real estate markets, causing investors to lose $5.4 million, Galvin said.

TODAY

• Labor Department releases weekly jobless claims.
• Commerce Department releases wholesale trade inventories for August.
• Woburn-based MKA Executive Planners, which provides personalized retirement income planning for executives, business owners and professionals, announced the appointment of Dennis Sexton, left, as senior vice president. He previously managed the employee benefits division of IIG Inc.SentiCare Inc. and WorldClinic Inc.

18.39 | 0 komentar | Read More

TD Garden goes gourmet

The TD Garden showed off the first phase of its
$70 million renovation yesterday — including digital screens that show fans' tweets and fancier food options such as a surf and turf burger — hours before the Bruins took to the ice for their home opener.

Construction crews renovated the fourth floor loge concourse over the summer, giving it a completely new look along with new technology and concession stands.

"(The fans) are going to love it," said Amy Latimer, president of TD Garden. "It's clean, it's bright ... they're going to have a great time."

The walls now boast pictures from notable events at the Garden, everything from ice skating championships to the Beatles' 1964 concert.

The concourse also has more than 200 digital screens for a flashier fan experience, including a video board that shows fans' tweets and live shots from the game and four 92-inch touch screens that can direct fans to their seats or the closest concession stand.

"Instead of waiting until we get outdated, we decided to be ahead of the curve," Latimer said.

More than 400 Wi-Fi antennas have been installed throughout the Garden, including some in the hockey boards, so fans at ice-level don't miss out on Tweeting or Snapchat.

Legends, the Garden's season ticket holder club, also has undergone a makeover, with a new raw bar, pizza oven and digital Celtics and Bruins banners that appear to blow in the wind. The original yellow Boston Garden sign is mounted on the wall and incorporated into the new design.

Eight of the 16 concession stands on the loge level also have been redesigned from top to bottom, with new menus and new kitchen equipment. Latimer said there has not been an arena-wide equipment upgrade in 20 years.

Patrick Kilduff, the Garden's executive chef, said the new concession stands are designed so fans can see their food being cooked.

"You can see the products being made in front of your eyes," he said. "It doesn't just come out of a drawer."

Starting yesterday, fans can get a "surf & turf double" burger — one beef patty and one crab and lobster patty — or pick something out from the mac and cheese bar.

"We're trying to get that ultra premium product to the guests," Kilduff said.

Of course, ultra-premium concessions come with a price tag — that surf and turf burger costs a cool $22. The Garden says the price of concession stand basics, such as hot dogs and pretzels, will not rise.

Said Latimer: "I think we've covered any taste for any person."

18.39 | 0 komentar | Read More

Activist shareholder demands EMC act to boost stock price

An activist shareholder has made public its calls for data storage giant EMC Corp. to spin off its VMware virtualization software unit or pursue merger opportunities with other companies.

New York's Elliott Management Corp., which has a 2.2 percent EMC stake, said EMC's structure of four independently run companies "obscures" its "enormous value" and won't be viable when Joe Tucci — EMC's CEO since 2001 — retires in February, according to a letter signed by Elliott portfolio manager Jesse Cohn sent to EMC's board yesterday.

"EMC's stock price has under-performed its ... peers and the market ... while this structure has been in place," Cohn said. EMC bought VMware in 2004, and they are now "competing against one another, confusing customers, employees, Street analysts and shareholders," he said.

Since Elliott's July announcement of its EMC stake, it has "learned of acquisition interest in EMC's assets on the part of several large companies that make strategic sense," the letter said.

EMC has held advanced talks to sell to Hewlett-Packard and failed to reach a deal, primarily on price, Bloomberg News reported.

EMC said its board "regularly reviews and rigorously evaluates the company's strategy" to enhance shareholder value.

"Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," it said.

Herald wire services contributed to this report.

18.39 | 0 komentar | Read More

City orders one-day suspension of club’s license

The Boston Licensing Board yesterday slapped a local nightclub with a one-day license suspension for failing to call police about an alleged sexual assault on its dance floor.

Mac Dauber, the Royale's security director, told the board Tuesday that the alleged victim never told him she had been groped Aug. 10.

But the board unanimously agreed yesterday that Dauber erred when he told the 24-year-old woman the police didn't need to be called because he worked closely with them.

"It's clear she made at least some people aware of exactly what transpired," Chairwoman Nicole Murati Ferrer said.

Dauber was not at yesterday's meeting and could not be reached for comment.

Licensing Board records show the Royale has a history of failing to call 911 for emergencies, a charge it denies.

The board issued the Tremont Street club a warning on May 19, 2011, after a patron said he was stabbed, and staff gave him bandages instead of calling for an ambulance. On Jan. 20, 2011, the board suspended the club's license for two days for failing to call 911 after a man reported he was beaten.

18.39 | 0 komentar | Read More

Accelerator teams with French city

Boston startup accelerator and competition host MassChallenge will sign a memorandum of understanding today to forge ties with the city of Lyon, France, home to an international biotechnology cluster and Europe's top center for vaccine production.

"It's basically a general framework for cooperation between the entrepreneurial ecosystems of Lyon and Boston in general, but specifically here with MassChallenge," said Amir Eldad, MassChallenge's international expansion "evangelist."

There's a very distinct sector alignment between the two cities, including in the life sciences, biotech, medical devices, robotics and nanotechnology, Eldad said.

MassChallenge participated in Gov. Deval Patrick's September trade mission that included a Lyon stop. Lyon Mayor Gerard Collomb, slated to be in Boston today, was unavailable for comment.

The second largest metro area in France, Lyon is home to the headquarters of vaccine maker Sanofi Pasteur and in vitro diagnostics company bioMerieux, both of which have operations in Cambridge.

18.39 | 0 komentar | Read More

Bill Gates gives $5M to startup

A Cambridge biotech startup yesterday got a 
$5 million boost from the Bill & Melinda Gates Foundation to develop synthetic bacteria to fight disease.

Synlogic said it will work with the former Microsoft boss' charitable foundation to help combat diseases in poor and developing nations.

"We are excited to work with Synlogic in such an encouraging area of breakthrough science," Trevor Mundel, president of Global Health at the Bill & Melinda Gates Foundation, said in a statement. "Synlogic's technology platform could lead to new therapies for some of the most severe diarrheal diseases, the second-leading cause of death for children in developing countries."

The Gates Foundation has committed the $5 million in addition to the nearly 
$30 million Synlogic raised in July in Series A round funding from Atlas Ventures and New Enterprise Associates.

"It's certainly very validating for a company that is just getting started," said Ankit Mahadevia, Synlogic's chief executive. "We started this company to develop great products."

Using synthetically engineered microbes, Synlogic has developed a way for bacteria to perform a specific therapeutic action inside the body — such as delivering drugs — and then deactivate.

Mahadevia said the company will use the money to continue to develop its synthetic microbe platform. Earlier this year, Synlogic said it's platform "could have merit" in treating gastrointestinal diseases.

The Gates Foundation's global health division is focused on solutions to major health issues in poor and developing nations. In addition to its investments, the foundation has given out 
$30 billion in grants.

18.39 | 0 komentar | Read More

App traps child predators

Technology is closing in on child predators as the federal government expands a highly successful smartphone app that has made it easier to identify and lock up the sick individuals who prey on kids.

"They've exploited children using technology for years, and now it's time for us to use technology to exploit them," said Bruce Foucart, special agent in charge of U.S. Immigration and Customs Enforcement (ICE) Homeland Security Investigations in Boston. "I hope this sends a message to them."

The Operation Predator app is now available for Android smartphones and in Spanish, a significant expansion one year after the iOS version launched. The highly rated iPhone app has been downloaded more than 93,400 times, leading to the arrest of seven suspects in a year.

"If we've saved one kid or taken one kid out of harm's way, it's worth it," Foucart said.

The app is simple to use, providing descriptions of suspects and an easy way to submit tips. Those descriptions are detailed too, like the suspect profile for John Doe — a man last seen in southern Connecticut, age 40 to 50, who is known to go by the name "Rnold Kvistniak" and to be proficient in computer programming. He's wanted for conspiracy to produce child pornography.

Users can submit tips immediately by phone or via the app. The tip lines are manned 24/7, Foucart said.

Investigators act on tips quickly. Just 36 hours after the initial app launch last year, a tip from a user led to the arrest of a fugitive in Detroit. In December 2013, another suspect was arrested just hours after being added to the app.

ICE is one of the few law enforcement agencies that have harnessed the rapid response power of mobile technology to solve crimes.

A few exceptions include the Texas Department of Public Safety, which released a new app last month to allow users to search for sex offenders by location and proximity. The Massachusetts State Police and Worcester Police Department also offer mobile apps.

But other police departments and public safety agencies would be wise to use the ICE app as a model. And smartphone users would be wise to download it and spread the word.

Said Foucart, "People think they can remain anonymous behind their computers, but this is yet another example of how we're closing in on them."

18.39 | 0 komentar | Read More

Bruins’ practice rink striking glass

The Boston Bruins' new practice facility at New Balance's Boston Landing project complements the high-glass design of the athletic footwear company's adjacent headquarters, according to preliminary renderings filed with the city.

The rink's glass facade will allow travelers along the Massachusetts Turnpike, which it fronts, to see into the Brighton practice facility for peeks of its stands and ceiling banners.

The preliminary designs by Boston's Elkus Manfredi Architects show the NHL team's trademark spoked B logo figuring prominently on the building's exterior.

The rink, which will include about 650 seats, concessions and Bruins locker room and training space, is set for completion in 2016.

— DONNA GOODISON

18.39 | 0 komentar | Read More

Asian stocks mixed after growth forecast cut

BANGKOK — Asian stocks were mixed Tuesday after Wall Street edged down and the World Bank trimmed its forecast of the region's economic growth.

KEEPING SCORE: Tokyo's Nikkei 225 declined 0.2 percent to 15,855.47 while Hong Kong's Hang Seng gained 0.5 percent to 23,433.49. Seoul's Kospi was up 0.3 percent at 1,973.39. Jakarta rose while Sydney and Singapore fell.

WALL STREET: Stocks fell despite corporate news including Hewlett Packard Co.'s announcement it will split into two companies. The U.S. Federal Reserve was due to release notes on its latest meeting, and investors were looking for signs of when the Fed might raise rates — a move that for now is not expected until mid-2015. The Standard & Poor's 500 index fell 0.2 percent and the Dow Jones industrial average lost 0.1. The Nasdaq composite fell 0.5 percent.

WORLD BANK: The World Bank trimmed its growth forecast for developing East Asian economies to 6.9 percent from an outlook of 7.1 percent in April. The bank said China, the region's biggest economy, should grow by 7.2 percent, declining to 7.5 percent next year, as the government tries to shift from reliance on trade and investment to growth driven by domestic consumption.

ANALYST'S VIEW: "Investors are also weighing improving fundamentals in the U.S. versus deteriorating conditions in Asia, especially after the World Bank downgraded growth forecasts in China and developing East Asia yesterday," said Desmond Chua of CMC Markets in a report.

EUROPE: Germany was due to report factory data that were expected to show a contraction in activity in August for the first time in 15 months. Analysts blame weak demand in other Eurozone markets and tensions with Russia that have weighed on trade. Earlier data showed auto production fell sharply in August while business confidence surveys also showed a decline in manufacturing.

ENERGY: Benchmark U.S. crude shed 11 cents to $90.23 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 60 cents on Monday to close at $90.34.

CURRENCIES: The dollar gained to 108.89 yen from Monday's 108.82. The euro edged down to $1.2622 from the previous session's $1.2653.

18.39 | 0 komentar | Read More

Samsung expects lowest profit in over 3 years

SEOUL, South Korea — The world's biggest smartphone maker is suffering a stunning financial decline in the face of intense competition from Apple Inc. and upstart Chinese brands.

In a preview to earnings due out this month, Samsung Electronics Co. said Tuesday its quarterly profit is estimated to have fallen to its lowest level in more than three years, dragged down by weak sales of its new Galaxy model.

Samsung became the biggest smartphone brand on the popularity of earlier Galaxy models. But the bigger screen on Apple's new iPhone 6 is luring away Americans who liked the bigger Galaxy, while in China, local brands are making inroads into Samsung's business.

Analysts have repeatedly cut forecasts of Samsung's profit this year as Galaxy sales lagged expectations. They say earnings in the quarter ending in September could suffer their biggest decline in Samsung's recent history.

In Tuesday's report, Samsung said the median forecast of July-September operating income was 4.1 trillion won ($3.8 billion). That was below the median of analysts' expectations of 5.2 trillion won, according to FactSet, a financial data provider. It would be a 60 percent plunge from record-high 10.2 trillion won a year earlier.

The decline in Galaxy sales has hurt demand for Samsung components such as an advanced display called OLED. High marketing costs are undermining profits.

"The operating margin declined due to increased marketing expenditure and lowered average selling price," Samsung said in a statement. The company said it "cautiously expects increased shipments of new smartphones and strong seasonal demand for TV products."

Analysts say the bigger iPhones released last month will likely take away American customers who favored the Galaxy's bigger screens. In emerging markets such as India and China, Samsung's smartphone sales were overtaken by local rivals.

Samsung estimated sales for the July-September period declined 20 percent from a year earlier to 47 trillion won ($44.2 billion). That was slightly below analysts' expectations of 50.4 trillion won.

In January, analysts estimated Samsung's third quarter operating income would exceed 10 trillion won. That expectation has been steadily lowered to about half this month.

Quarterly profit from its mobile business, which reached 6.7 trillion a year earlier, is forecast to be a little over 2 trillion won.

The company needs to revamp its handset designs, said Lee Seung-woo, an analyst at IBK Securities Co.

"Rather than seeking stability, Samsung should seek to distinguish (its phones) with Galaxy's design policies," he said. "The iPhone 6 will be a significant threat to Samsung."

The company moved the launch of the Galaxy Note 4, a large smartphone with a stylus, to late September from October after Apple unveiled the iPhone 6. It also began sales of the Galaxy Note 4 in China last month, getting an early start in the world's most populous country before Apple.

Last month, Samsung also received upbeat initial responses to its Galaxy Note Edge smartphone, a smartphone with a curved side screen that can display weather, news, apps and other information. But the supply volume for the Edge smartphone will be limited, likely not giving a big boost to its earnings, analysts said.

With growth momentum in smartphones sagging, Samsung is moving to step up its presence in the semiconductor business.

This week, Samsung announced a 15.6 trillion won ($14.7 billion) investment plan to build a new semiconductor fabrication plant in the South Korean city of Pyeongtaek. The construction will begin before the summer next year and begin operations during the second half of 2017.

Samsung did not disclose net income or divisional earnings in its quarterly earnings preview.

18.39 | 0 komentar | Read More