S&P 500 flat as growth concerns temper bank earnings

NEW YORK (Reuters) - The S&P 500 was little changed on Wednesday as a bounceback in Apple shares and gains in bank stocks offset concerns about global economic growth.


Goldman Sachs shares hit their highest level since May 31, 2011 as earnings nearly tripled on increased revenue from dealmaking and lower compensation expenses. JPMorgan Chase said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record.


JPMorgan shares edged up 0.4 percent at $46.55 and Goldman was up 4.1 percent to $141.19.


They were among the first big banks to report results and helped to lift estimates for S&P 500 corporate earnings slightly to a 2.2 percent gain, Thomson Reuters data showed.


"Pretty solid numbers from both JPMorgan and Goldman Sachs are putting a lot of momentum behind the financials, with a lot more names to report this week. But I think that's helping to put a better bid to the market overall," said Michael James, senior trader at Wedbush Morgan in Los Angeles.


Apple rebounded after three days of losses, making the Nasdaq outperform the S&P 500 and Dow.


"There could not have been more negativity around Apple going into today. So was it due for an oversold bounce on a trading basis? Absolutely," James said.


The Dow Jones industrial average <.dji> was down 25.31 points, or 0.19 percent, at 13,509.58. The Standard & Poor's 500 Index <.spx> was up 1.01 points, or 0.07 percent, at 1,473.35. The Nasdaq Composite Index <.ixic> was up 12.04 points, or 0.39 percent, at 3,122.82.


A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply scaled back its forecast for world growth in 2013 to 2.4 percent from an earlier forecast of 3.0 percent.


Apple shares were up 4.6 percent at $508.48. The stock closed below $500 on Tuesday for the first time since February.


Shares of Dow component Boeing fell 3.8 percent to $74.05 and was the biggest drag on the Dow, on concerns about its new Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s after an emergency landing, adding to safety concerns triggered by a series of recent incidents.


U.S. economic data showed U.S. consumer prices were flat in December, pointing to muted inflation pressures that should give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.


Other data showed U.S. homebuilder confidence in the market for single family homes held steady near seven year highs in January, suggesting the outlook for the housing market remained upbeat.


(Additional reporting by Chuck Mikolajczak; Editing by Nick Zieminski and Kenneth Barry)



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The Lede Blog: Video Shows Flaming Wreckage After Helicopter Crash in London

Footage of the flaming wreckage of a helicopter crash in London on Wednesday posted on YouTube by Nic Walker.

Video and photographs posted online by witnesses showed smoke and fire on a street in central London after a helicopter crash on Wednesday. The police said the aircraft hit a crane atop a residential tower, exploding into flames and hurtling to the ground during the morning rush, my colleagues Lark Turner and Alan Cowell reported.

The pilot, identified by his employer as Capt. Pete Barnes, 50, was the only occupant in the aircraft. He and one person on the ground were killed, and at least nine were injured after the helicopter hit the crane on one of Europe’s tallest residential towers, known as The Tower.

One witness described seeing cars on fire and people screaming and running for their lives, in a brief video interview. A worker in the area told Britain’s Channel 4 News that the helicopter was “struggling” and making “funny noises” before it crashed.

A video report from Britain’s Channel 4 News.

A journalist named Mike Smith posted a photograph of the crane on Twitter, and footage from Britain’s Sky News showed the location near the Thames.

Footage of the crash site, from Britain’s Sky News.

The most telling video and photographs, perhaps, were recorded by Nic Walker, a resident of Vauxhall, the area where the crash took place.

Later in the day, after the images he posted on YouTube and Twitter were widely published and broadcast, Mr. Walker wrote on his @nic0 Twitter feed that he had no interest in making money from the episode.

The Facebook page of RotorMotion, the company for which Captain Barnes was flying, carried condolence messages. In a statement, RotorMotion said he was a very skilled pilot who had left behind a wife and children.

A spokesman for the company said that on Wednesday, Captain Barnes was on an executive charter flight and was on his way to pick up a client at Elstree Aerodrome. “We understand that he was diverting to Battersea heliport as a result of poor weather over Elstree and was approaching Battersea when the incident occurred,” said Paul Blezard.

Captain Barnes had an extensive career in medical ambulance flights. A British race car driver, Jolyon Palmer, wrote on Twitter that the pilot had helped to save his life in 2007.

The Yorkshire Post reported that Captain Barnes had flown with the air ambulance services there. In a 2006 profile of the pilot that discussed his work on films including the James Bond thriller “Die Another Day,” The Post quoted Captain Barnes saying, “It’s not as glamorous as everyone thinks — there’s a lot of hanging about and then suddenly you’re activated and you have to get on and do your stuff.”

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Apple supplier sees big Q4 boost, likely a good sign for iPhone 5 demand






Shares of Apple (AAPL) have been hit hard over the last few days. Investors continue to worry about the company’s profit margins, demand for its popular line of smartphones and tablets, and its future endeavors. With upcoming competition from Research in Motion (RIMM) and Microsoft (MSFT), and an ongoing battle with Google’s (GOOG) Android operating system, analysts fear that Apple’s mobile dominance may be a thing of the past. While we won’t officially know anything until the company reports its holiday earnings on January 23rd, a small German company has painted a calming picture for Apple shareholders.


[More from BGR: HTC One SV review]






Dialog Semiconductor announced last week that it expects to report a significant increase in sales for its December quarter. The company noted that the increase was due to “a stronger than anticipated end of year, underpinned by a strong late surge in demand for smartphone and tablet products.” Dialog Semiconductor now expects to report revenues of $ 268 million, an increase from between $ 215 million and $ 235 million.


[More from BGR: Extensive BlackBerry Z10 demo video posted by German website [video]]


The important thing to note is that, as of this past fall, Apple is Dialog’s largest customer and accounts for 60% of its total revenue.


Logic dictates that solid demand for Apple’s iPhone and iPad during the holidays helped boost Dialog’s performance. This could also mean that the iPhone-maker will report not only a strong December quarter, but a better-than-expected March quarter as well.


It looks like all this talk about customers losing interest in Apple may indeed be premature.


This article was originally published on BGR.com


Wireless News Headlines – Yahoo! News





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Holly Madison in Doghouse with Homeowners Association















01/15/2013 at 03:30 PM EST







Holly Madison and dog Louis


Denise Truscello/WireImag


Holly Madison is having a little trouble getting her neighbors to think pink.

The former Playboy pin-up – and current mom-to-be – is moving out of her home in the Rancho Circle neighborhood of Las Vegas after repeated complaints from the homeowners association over her pink doghouse, which is human-sized and built to accommodate her three pups, Louis, Napoleon and Josephine.

"When I went over it with my contractor, he consulted the HOA on all their restrictions and whatnot," she told Las Vegas Weekly. "He told me it has to match the architecture of the house, so I did that with the roof because … it's possible you could see the roof from the street, but you can't see any of it from the street, actually."

In addition, the structure's creative color has also been a point of conflict for the association, which has repeatedly fined the star over it – not that Madison's taking their actions lying down.

"It's a hundred dollars a month," she said. "I haven't been paying it. I just keep sending them nasty letters."

Luckily for Madison, when the doghouse was constructed, it was designed to be movable.

"Yes, I'm going to bring it," she replied when asked if it will accompany her to her newest home.

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Risk to all ages: 100 kids die of flu each year


NEW YORK (AP) — Twenty flu-related deaths have been reported in children so far this winter — one of the worst tolls this early in the year since health officials began keeping track.


Still, experts say that doesn't mean this year will turn out to be unusually deadly. Roughly 100 children die in an average flu season, and it's not clear that will happen this year.


The deaths have included a 6-year-old girl in Maine, a 15-year-old Michigan boy who loved robotics and a tall high school senior from Texas who got sick in Wisconsin while visiting his grandparents for the holidays.


On average, an estimated 24,000 Americans die each flu season. Elderly people with chronic health conditions are at greatest risk.


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Wall Street flat as Apple down again but retailers rise

NEW YORK (Reuters) - Stocks were nearly flat on Tuesday as tech heavyweight Apple dragged on the market as it extended losses into a third day, while economic data helped retailers advance.


Apple was the biggest weight on both the S&P 500 and Nasdaq 100 <.ndx> after reports on Monday of cuts to orders for iPhone parts. Shares were down 3 percent at $486.50 after hitting a session low of $483.84, its lowest level since February.


Retailer stocks advanced and helped to minimize the market's decline after a government report that retail sales rose more than expected in December was seen as a favorable sign for fourth-quarter growth. However, a separate report showed manufacturing activity in New York state contracted for the sixth month in a row in January.


"It's trying to push its way up in here, the question is, has Apple stabilized maybe a little bit down here? The retail sales numbers were really good, much better than expected this morning and that is helping the whole retail group," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.


"The bulls are clearly trying to take control of this market and hold it up here. There is clearly buying on any of the dips."


American Eagle Outfitters Inc gained 4.4 percent to $20.51 and Gap Inc rose 3.3 percent to $32.44. The Morgan Stanley retail index <.mvr> climbed 1.5 percent.


The Dow Jones industrial average <.dji> was up 21.56 points, or 0.16 percent, at 13,528.88. The Standard & Poor's 500 Index <.spx> was up 0.98 points, or 0.07 percent, at 1,471.66. The Nasdaq Composite Index <.ixic> was down 8.25 points, or 0.26 percent, at 3,109.26.


Also keeping investors on edge was the looming debt ceiling debate. On Monday, President Barack Obama rejected any negotiations with Republicans over raising the U.S. debt ceiling. The United States could default on its debt if Congress does not increase the borrowing limit.


Resolving the debt ceiling debate is more a question of how than if. Investors don't expect a U.S. default, but they are also wary of another eleventh-hour agreement like the one in August 2011.


An expected lackluster earnings season, too, kept investors from taking aggressive bets. Analyst estimates for the quarter have fallen sharply since October. S&P 500 earnings growth is now seen up just 1.8 percent from a year ago, Thomson Reuters data showed.


Homebuilder Lennar reported a sharp rise in quarterly profit, but the stock fell 1.7 percent to $40.33 on worries that growth in orders was slowing. The PHLX housing sector index <.hgx> declined 0.3 percent.


(Additional reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)



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India Ink: In New Delhi, Women Marry Up and Men Are Left Behind

There’s an unexpected problem in New Delhi’s high-end marriage market, according to Gopal Suri, who has been a marriage broker for two decades.

There are too few “quality” men, he said in a recent interview, as a growing pool of young women with unprecedented levels of education are seeking and making matches with educated men from higher socioeconomic groups.

The repercussions from India’s skewed sex ratios are being felt at all economic levels, including Delhi’s wealthiest families. For every 1,000 men in urban India, there are only 926 women, according to India’s census. In Delhi’s urban area, that figure for women drops even lower, to 867. Poor migrant laborers, who travel to the city for work, account for some of the gender disparity, but there is still a large pool of single middle-class men in Delhi.

The well-educated women’s upward mobility has a cascading effect, he said. The less-educated men from wealthy, but not incredibly rich, families get left behind. (Mr. Suri’s business in south Delhi, A to Z Matchmaking, caters to households with an annual income of 5 million rupees ($90,000) to more than 50 million rupees ($900,000).

There are plenty of young men in Delhi with money, he said, but their education levels fall short compared with other women in their class bracket. Educated women in general can afford to be choosy because they are the minority in the marriage market.

“Literacy-wise, there aren’t many boys,” said Mr. Suri.

These empowered women are increasingly discerning when it comes to marriage. In this age of tell-all social networks and social media, it’s not too difficult to research prospective mates, Mr. Suri said. “Some men are into gay activities, some are into drugs or drink too much,” he said. “Then the market finds out and so his reputation goes down. This is the age of Facebook.”

For men who are in the lowest tiers of society, “there is frustration,” he said, as they have limited prospects for marriage or jobs. “He’s not going to get anything or anyone,” he said.

The male frustration, as Mr. Suri dubbed it, arises because the men can’t accept that women in their socioeconomic class are moving swiftly ahead of them. Sometimes these men lash out, and women bear the brunt of it, Mr. Suri said, alluding to the recent attention to violence against women in India’s capital.

These men wind up “on the roads and frustrated, and try to do something, somehow,” he said. “When he drinks, it is like icing on the cake.”

Mr. Suri brokers about 200 marriages a year. In 2008 and 2009, Mr. Suri said, he saw a huge spike in weddings when young, educated men who had left India for opportunities abroad returned to the motherland, further diminishing the prospects for the men in Delhi.

Demographics aside, the primary factors for determining compatibility in India’s marriage market are economics and education, he said.

Other factors do come into play, he said: “Are they cultured? Intellectually compatible? Personally compatible?” But, he said, “ultimately, people pay most attention to finances, in this day and age especially. Money is the floating god.”

Still, highly educated women don’t necessarily get the perfect mates, Mr. Suri said, and most women have to compromise “on one thing or the other.”

“If she does get married, it’s usually out of compulsion,” he said. “This is why divorce has gone up.”

And when women are more educated then their partners, “it just doesn’t match,” Mr. Suri said. “The boy gets an inferiority complex, and the girl starts thinking, ‘Where can I take him?’ ”

The “marrying up” trend isn’t seen among very wealthy women, he said, since the pool of very rich eligible men has shrunk.

“The girls have become 35 or 40 and can’t get married,” Mr. Suri said. “First they were choosy,” he said, and now they are too old.

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Facebook shares rise in buildup to mystery event, earnings






SAN FRANCISCO (Reuters) – Facebook Inc’s stock opened on Monday above $ 32 for the first time since July as anticipation about upcoming products and financial results underscored Wall Street’s renewed confidence in the online social network.


Facebook will on Tuesday host its first major press event at its headquarters in Menlo Park, California, since its troubled initial public offering in May, triggering a guessing game among technology observers and online blogs about what it could unveil – everything from a smartphone to a search engine.






“There’s a lot of speculation. Nothing to me seems to be that certain,” Jefferies & Co analyst Brian Pitz said.


“If I were to bet, I’d think it was something that was ad-platform related. I’m not convinced on the phone,” said Pitz, citing previous comments by Facebook’s leaders including CEO Mark Zuckerberg that making a smartphone would be the “wrong strategy” for Facebook.


In an email to reporters last week, Facebook invited the media to “come and see what we’re building” without providing details.


Some analysts said the stock’s recent gains – shares are up roughly 17 percent since the start of the year – may have more to do with the company’s upcoming fourth-quarter financial results, slated for January 30.


“The stock is up because they have driven a dramatic increase in the ad load of their mobile app which is giving investors hope that they exceeded expectations,” BTIG analyst Richard Greenfield said.


Shares were down about 1.3 percent to $ 31.30 in mid-afternoon trading.


The world’s No.1 social network with 1 billion users, Facebook became the first U.S. company to debut on stock markets with a value of more than $ 100 billion. Its value subsequently plunged by more than 50 percent on mounting concerns about slowing revenue growth and the challenges of making money as users shift from personal computers to mobile devices.


Facebook surprised Wall Street in the third quarter by announcing that mobile ads accounted for 14 percent of its total ad revenue. Some analysts expect the company to report further growth in its nascent mobile ad business for the fourth quarter.


Zuckerberg, who founded Facebook in his Harvard dorm room, has said that mobile is the “most misunderstood aspect” of Facebook. But he has repeatedly poured cold water on rumors that Facebook would build its own smartphone to compete against Apple Inc’s iPhone and smartphones based on Google Inc’s Android operating system.


During an on-stage interview at a conference in September, Zuckerberg said that he believed search could be a ripe area of growth for Facebook.


“Facebook is really uniquely positioned to answer a lot of the questions that people have,” Zuckerberg said, such as finding a good restaurant or learning more about a job opportunity.


Still, many technology observers believe that Facebook is more likely to improve the search capabilities within Facebook than to develop a full-fledged search engine that indexes all the Web’s content and competes head-on with search leader Google.


Among the other items that technology blogs and analysts speculate might be unveiled on Tuesday were new standalone apps for Apple’s iPad tablet, new features to display video ads and even a new wing of corporate headquarters.


Some cautioned that expectations of a game-changing new product were likely to cause disappointment.


“There’s no way they’re announcing anything that has financial impact, or they wouldn’t do it now, they’d wait two weeks,” said Wedbush Securities analyst Michael Pachter, citing Facebook’s upcoming earnings.


“Why would you announce something that has a financial impact during the quiet period?,” he said.


(Reporting By Alexei Oreskovic; Editing by Paul Simao)


Internet News Headlines – Yahoo! News





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Britney Grabs Coffee Post Split with Jason Trawick















01/14/2013 at 03:50 PM EST



Britney Spears still believes in "love" – at least when it comes to wearing it.

The pop star, 31 – whose failed engagement to Jason Trawick, 41, was announced on Friday – grabbed coffee in L.A. on Monday, sporting a black and white sweatshirt with the four-letter word displayed in large letters across the front.

The former X Factor judge looked casual, wearing shades and her hair in a ponytail.

Once the split was official, a source told PEOPLE, "Britney had a lot of issues with Jason doing his own thing – in business and seeing his friends. In her perfect world he would have been home with her twenty-four/seven, so that was a point of contention; something they were always working on."

But she didn't seem too bent out of shape when she made her outing and grabbed two drinks to go, as she wore a happy grin the whole time.

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Hospitals crack down on workers refusing flu shots


CHICAGO (AP) — Patients can refuse a flu shot. Should doctors and nurses have that right, too? That is the thorny question surfacing as U.S. hospitals increasingly crack down on employees who won't get flu shots, with some workers losing their jobs over their refusal.


"Where does it say that I am no longer a patient if I'm a nurse," wondered Carrie Calhoun, a longtime critical care nurse in suburban Chicago who was fired last month after she refused a flu shot.


Hospitals' get-tougher measures coincide with an earlier-than-usual flu season hitting harder than in recent mild seasons. Flu is widespread in most states, and at least 20 children have died.


Most doctors and nurses do get flu shots. But in the past two months, at least 15 nurses and other hospital staffers in four states have been fired for refusing, and several others have resigned, according to affected workers, hospital authorities and published reports.


In Rhode Island, one of three states with tough penalties behind a mandatory vaccine policy for health care workers, more than 1,000 workers recently signed a petition opposing the policy, according to a labor union that has filed suit to end the regulation.


Why would people whose job is to protect sick patients refuse a flu shot? The reasons vary: allergies to flu vaccine, which are rare; religious objections; and skepticism about whether vaccinating health workers will prevent flu in patients.


Dr. Carolyn Bridges, associate director for adult immunization at the federal Centers for Disease Control and Prevention, says the strongest evidence is from studies in nursing homes, linking flu vaccination among health care workers with fewer patient deaths from all causes.


"We would all like to see stronger data," she said. But other evidence shows flu vaccination "significantly decreases" flu cases, she said. "It should work the same in a health care worker versus somebody out in the community."


Cancer nurse Joyce Gingerich is among the skeptics and says her decision to avoid the shot is mostly "a personal thing." She's among seven employees at IU Health Goshen Hospital in northern Indiana who were recently fired for refusing flu shots. Gingerich said she gets other vaccinations but thinks it should be a choice. She opposes "the injustice of being forced to put something in my body."


Medical ethicist Art Caplan says health care workers' ethical obligation to protect patients trumps their individual rights.


"If you don't want to do it, you shouldn't work in that environment," said Caplan, medical ethics chief at New York University's Langone Medical Center. "Patients should demand that their health care provider gets flu shots — and they should ask them."


For some people, flu causes only mild symptoms. But it can also lead to pneumonia, and there are thousands of hospitalizations and deaths each year. The number of deaths has varied in recent decades from about 3,000 to 49,000.


A survey by CDC researchers found that in 2011, more than 400 U.S. hospitals required flu vaccinations for their employees and 29 hospitals fired unvaccinated employees.


At Calhoun's hospital, Alexian Brothers Medical Center in Elk Grove Village, Ill., unvaccinated workers granted exemptions must wear masks and tell patients, "I'm wearing the mask for your safety," Calhoun says. She says that's discriminatory and may make patients want to avoid "the dirty nurse" with the mask.


The hospital justified its vaccination policy in an email, citing the CDC's warning that this year's flu outbreak was "expected to be among the worst in a decade" and noted that Illinois has already been hit especially hard. The mandatory vaccine policy "is consistent with our health system's mission to provide the safest environment possible."


The government recommends flu shots for nearly everyone, starting at age 6 months. Vaccination rates among the general public are generally lower than among health care workers.


According to the most recent federal data, about 63 percent of U.S. health care workers had flu shots as of November. That's up from previous years, but the government wants 90 percent coverage of health care workers by 2020.


The highest rate, about 88 percent, was among pharmacists, followed by doctors at 84 percent, and nurses, 82 percent. Fewer than half of nursing assistants and aides are vaccinated, Bridges said.


Some hospitals have achieved 90 percent but many fall short. A government health advisory panel has urged those below 90 percent to consider a mandatory program.


Also, the accreditation body over hospitals requires them to offer flu vaccines to workers, and those failing to do that and improve vaccination rates could lose accreditation.


Starting this year, the government's Centers for Medicare & Medicaid Services is requiring hospitals to report employees' flu vaccination rates as a means to boost the rates, the CDC's Bridges said. Eventually the data will be posted on the agency's "Hospital Compare" website.


Several leading doctor groups support mandatory flu shots for workers. And the American Medical Association in November endorsed mandatory shots for those with direct patient contact in nursing homes; elderly patients are particularly vulnerable to flu-related complications. The American Nurses Association supports mandates if they're adopted at the state level and affect all hospitals, but also says exceptions should be allowed for medical or religious reasons.


Mandates for vaccinating health care workers against other diseases, including measles, mumps and hepatitis, are widely accepted. But some workers have less faith that flu shots work — partly because there are several types of flu virus that often differ each season and manufacturers must reformulate vaccines to try and match the circulating strains.


While not 100 percent effective, this year's vaccine is a good match, the CDC's Bridges said.


Several states have laws or regulations requiring flu vaccination for health care workers but only three — Arkansas, Maine and Rhode Island — spell out penalties for those who refuse, according to Alexandra Stewart, a George Washington University expert in immunization policy and co-author of a study appearing this month in the journal Vaccine.


Rhode Island's regulation, enacted in December, may be the toughest and is being challenged in court by a health workers union. The rule allows exemptions for religious or medical reasons, but requires unvaccinated workers in contact with patients to wear face masks during flu season. Employees who refuse the masks can be fined $100 and may face a complaint or reprimand for unprofessional conduct that could result in losing their professional license.


Some Rhode Island hospitals post signs announcing that workers wearing masks have not received flu shots. Opponents say the masks violate their health privacy.


"We really strongly support the goal of increasing vaccination rates among health care workers and among the population as a whole," but it should be voluntary, said SEIU Healthcare Employees Union spokesman Chas Walker.


Supporters of health care worker mandates note that to protect public health, courts have endorsed forced vaccination laws affecting the general population during disease outbreaks, and have upheld vaccination requirements for schoolchildren.


Cases involving flu vaccine mandates for health workers have had less success. A 2009 New York state regulation mandating health care worker vaccinations for swine flu and seasonal flu was challenged in court but was later rescinded because of a vaccine shortage. And labor unions have challenged individual hospital mandates enacted without collective bargaining; an appeals court upheld that argument in 2007 in a widely cited case involving Virginia Mason Hospital in Seattle.


Calhoun, the Illinois nurse, says she is unsure of her options.


"Most of the hospitals in my area are all implementing these policies," she said. "This conflict could end the career I have dedicated myself to."


__


Online:


R.I. union lawsuit against mandatory vaccines: http://www.seiu1199ne.org/files/2013/01/FluLawsuitRI.pdf


CDC: http://www.cdc.gov


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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