Red Hat shares up on acquisition and 3Q results

Red Hat Inc.‘s shares jumped Friday on the software company‘s solid third-quarter results and plans to acquire cloud-based software company ManageIQ.

THE SPARK: Red Hat said late Thursday that it would buy privately held ManageIQ for $ 104 million in cash.

The Raleigh, N.C., company also reported that it earned 29 cents per share for its fiscal third quarter on an adjusted basis, up a penny from the prior year and in line with analyst expectations. Its revenue for the period increased 18 percent to $ 343.6 million, which beats the $ 338 million that analysts polled by FactSet had forecast.

THE BIG PICTURE: ManageIQ’s software helps businesses deploy and manage private clouds. Red Hat said the deal will expand the reach of its public-private cloud setups for its customers. The acquisition is expected to have no material impact to Red Hat’s revenue for its fiscal year ending in February.

THE ANALYSIS: Stifel Nicolaus analyst Brad R. Reback said that the company has been able to maintain momentum even in a difficult environment and he thinks the latest deal offers an interesting longer-term angle for its business. He thinks the company is well positioned to generate at least 15 to 20 percent billings growth in the future. He reiterated a “Buy” rating and a $ 65 price target on its shares.

SHARE ACTION: Shares gained $ 2.25, or more than 4 percent, to $ 54.86 in afternoon trading. Shares have traded between $ 39.19 and $ 62.75 in the past 52 weeks.

Linux/Open Source News Headlines – Yahoo! News

Title Post: Red Hat shares up on acquisition and 3Q results
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NYPD Daily Blotter

Manhattan

***

A quick-thinking straphanger snapped a photo (above) of a man who had allegedly rubbed up against her in a subway car on the Upper East Side, authorities said.

The suspect was aboard the No. 4 train Monday at 9:40 a.m. between 86th and 59th streets when the victim felt the perv’s unwelcome advances, police said.

The victim says the man came up behind her and rubbed against her buttocks, cops said.

The suspect is in his early 40s and was wearing a blue baseball cap and a black jacket, police said.

***

The NYPD Harbor Unit pulled the body of a woman from the Hudson River yesterday off Hamilton Heights, authorities said.

The body of the unidentified woman in her 30s was spotted at 11:05 a.m. by a jogger near 12th Avenue and West 135th Street, cops said.

The Medical Examiner’s Office is working with detectives to identify the body and determine the cause of death, authorities said.

Brooklyn

***

A man was gunned down amid a botched home-invasion robbery yesterday in East New York, authorities said.

Edwin Pacheco, 41, was in his home on Logan Avenue near Grace Avenue at 6:20 a.m. when three men in ski masks burst in, police said.

One of the men shot Pacheco in the head and pistol-whipped a relative, police said.

The victim was pronounced dead at the scene, police said.

Cops said the thieves were looking for money, and the robbery appears to be drug-related.

***

A father of two was found shot to death in the driveway of an East Flatbush building yesterday, police said.

The victim, in his 30s, was shot in the head on East 92nd Street near Avenue B and found at about 9:30 a.m., police said.

A witness said she had heard shots between 1 and 2 a.m. and spotted three shell casings on the ground.

“He had two daughters. He loved them dearly. He’d do anything for them,” said the victim’s brother-in-law, who declined to be identified by name.

The victim, who had just put up a Christmas tree for his kids, was pronounced dead at the scene, police said.

“This is not right,” the brother-in-law said. “My two nieces are going to grow up without a father.”

The Bronx

***

Police are looking for the thief pictured above who robbed an Edenwald store at gunpoint, authorities said.

The suspect entered the establishment at East 233rd Street and Grace Avenue Monday at 7:20 a.m. and demanded money, police said.

An employee forked over an undetermined sum of cash, police said.

Queens

***

Police released a picture (above) of the suspect who they believe is responsible for shooting two people in Rochdale.

The suspect, in his late 30s, shot a 21-year-old man in the stomach and a 16-year-old boy in the leg on Nov. 9 on Guy Brewer Boulevard near 134th Avenue, police said.

The gunman fled in a silver Dodge Magnum station wagon, police said.

He’s about 6-foot-1 and sports a short afro, police said.

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Investors shuffling assets ahead of fiscal cliff

Some citizens aren’t waiting to find out if the White House and Republicans in Congress will be able to reach a last-minute deal to pull the country away from the “fiscal cliff.”

They are selling securities while capital gains tax rates are still low or transferring millions into trusts for the benefit of children and grandchildren before estate tax laws become more stringent. Others are getting out of the markets and parking money in less risky accounts.

Miami financial planner Cathy Pareta has been counseling her upper middle class clients — “the Johnsons, not the Rockefellers” — on whether to adjust investment portfolios, accelerate income or realize capital gains sooner than planned.

“Some people are going to get hit hard,” said John Bacci, a financial planner in Linthicum, Md., who has gone down his client list and run projections on what higher taxes would look like for them. He’s looking at tax-friendly alternatives for some clients, such as annuities or rental property.

At year’s end, the country will leap off the “fiscal cliff” unless politicians reach a compromise on mandated spending cuts and the expiration of the Bush-era tax cuts.

For most investors, the expiring cuts will mean that the tax rate for long-term capital gains will rise from 15 percent to 20 percent. Dividends also will no longer be taxed at 15 percent but treated as ordinary income, which could mean a tax rate as high as 39.6 percent. And individuals with multimillion-dollar estates will find much more of their money subject to the federal estate tax.

Estate planning lawyers say the demand is so intense that they are putting in grueling hours to set up trusts.

“It’s very stressful. We are working day and night,” said Diana Zeydel, an estate planning lawyer with Greenberg Traurig in Miami. “Were doing three times what we normally do for end-of-the-year planning.”

Zeydel said many of her clients waited until after the elections in November to gauge how the political tide would affect their future finances. This gave them little more than a month to make major decisions about their wealth.

Most observing the political jousting in Washington expect taxes will go up even if the political leaders reach a deal — they’re just not sure how much. Many aren’t taking any chances.

Jim Ludwick, a financial planner in Odenton, Md., said one client in his late 50s cashed out stock and bond funds totaling $1.7 million not long after the election and stashed the proceeds in a money market fund.

The client, anticipating a market plunge due to the “fiscal cliff” and other issues, said he spent his entire working life building up a nest egg and wouldn’t have time to wait for his portfolio to recover, according to Ludwick. The client fears it won’t be safe to re-enter the stock market for another year.

“We have a number of clients who are taking capital gains this year, expecting that if they wait until next year, they will have to pay higher taxes on those same gains,” said Daniel McHugh, president of Lombard Securities in Baltimore. Some of those clients are realizing six-figure gains but are still willing to take the tax hit now, he said.

Of course, the downside is that the stock market could take off, and these investors will miss out on even higher gains, McHugh said. But, he added: “Given the state the economy is in, that’s a very small risk.”

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Bay of Pigs invasion veterans mark 50 years since release

In the days before Christmas 50 years ago this weekend, 1,113 Bay of Pigs fighters captured by Fidel Castro’s forces and imprisoned for 20 months were finally released to a heroes’ welcome in Miami.

The first planeload of POWs arrived at Homestead Air Force Base on Dec. 23, 1962. Gaunt and betrayed by the John F. Kennedy administration, members of the proud Brigade 2506 were bused to Miami’s Dinner Key Auditorium, where waiting relatives engulfed them with hugs at a massive reunion that made front-page news. Five days later, JFK and his wife Jackie would be at the Orange Bowl to welcome them, too.

On Saturday, the 50th anniversary of those pivotal days will be observed as surviving brigade members — now in their 70s and 80s — hold a and 11 a.m. Mass and reunion at the Bay of Pigs Museum in Little Havana.

The release of the men was the one bright spot in the disastrous April 1961 CIA-backed invasion to overthrow the two-year old Castro government. Yet the fighters’ return also sent the somber message that exiles would not reclaim Cuba. The Cuban Missile Crisis that October had set the course of U.S.-Cuba relations until today.

Back then, it was sinking in: The Cuban exile community was in Miami to stay.

A defeated Jose Andreu, now 76, the first brigade member to sign up for the invasion, was among those who arrived home that bittersweet day.

“My wife to-be was there to meet me, along with my sister and my father,” Andreu said. “I remember hugging and crying. After leaving the auditorium, I remember being so hungry I went to a Royal Castle and my girlfriend bought me, I think, 18 small cheeseburgers.”

Among the young people waiting at the auditorium that day in 1962 was a teen-aged Ninoska Perez Castellon, there with her family to welcome her brothers and uncle, all brigade members.

“I remember being in that packed auditorium ... I can truly say as a child I viewed those men as my first heroes. I still do,” said Perez-Castellon, who grew up to become one of Miami’s most influential radio personalities.

Perez and her family still have black-and-white snapshots of the joyful reunion, showing her late grandmother proudly hugging her son.

The behind-the-scenes negotiations that finally led to the release of the brigadistas 50 years ago this week were the stuff of Hollywood movies. They involved months of haggling with Castro by everyone from a former first lady to a high-profile diplomatic negotiator who led the group that finally succeeded — a group of the prisoners’ mothers, wives and fathers who made up the Cuban Families Committee.

Their effort resulted in a now-forgotten 7,857 exodus of Cuban refugees, many relatives of the brigadistas, who arrived in cargo ships at Port Everglades in Fort Lauderdale from December 1962 to July 1963.

Two women in the committee played key roles — one in Cuba, motivated by a mother’s love; the other in Miami, seeking to free her husband.

Havana socialite, Berta Barreto, whose oldest son, Alberto Oms Barreto, had been captured during the invasion, made the initial contact with Castro and promised that the ransom he had set for the men would be paid. Years later, her second son, Pablo Perez-Cisneros Barreto, wrote the definitive book on the negotiations called After the Bay of Pigs, soon to be published in Spanish. “What my mother and the others managed to do, with no experience in high-level negotiating, was extraordinary,” Perez-Cisneros Barreto said.

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Jennifer Lawrence Fashion Time Warp

"It" girl Jennifer Lawrence is getting a lot of attention this year, and with good reason! 

The recent Golden Globe nominee has proven herself worthy of the big-screen hype thanks to the box office success of The Hunger Games and Silver Linings Playbook. On top of that, the beauteous bombshell has become a fashion-forward phenomenon.

Related: Five Things You Don't Know About Jennifer Lawrence

Join us as we look back at Jennifer's best and worst looks of red carpet past.

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Former Gov. Patterson canned from radio hosting gig

William C Lopez

Former Gov. David Patterson is out of work once again.

Former Gov. David Paterson is looking for a new job — again.

Clear Channel canned him yesterday as the 4-6 p.m. weekday talk show host on WOR-AM 710 radio – less than two years after he was out of work following his tumultuous and abbreviated tenure at the state’s helm.

“As governor, he was oftentimes in position to dish it out, so he is certainly someone who can take it,” Paterson spokesman Sean Darcy said, adding the state’s first black chief exec “has been exploring a number of different options both in and out of the media.”

Paterson decided against running for governor in 2010 after ascending to the job when former Gov. Eliot Spitzer quit in March 2008 over a hooker scandal.

He landed the WOR gig in September 2011, but Clear Channel bought the station earlier this year and the conglomerate began layoffs this week.

Paterson had told Post columnist Fredric U. Dicker on his own radio show on Albany’s Talk 1300 AM recently that his job wasn’t a sure thing.

Paterson’s face and name were gone from the WOR web site’s “personalities” section yesterday, and the site’s schedule had no listing for his normal show time.

Execs for the station and Clear Channel could not be reached for comment.

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The Cuban government Thursday denounced what it called the “unjust and illegal” multi-million dollar fines the U.S. government slapped on two foreign banks for violating Washington’s sanctions on the island.

The U.S. actions show that its “ferocious persecution of financial and commercial transactions by Cuba and those with legitimate relations … has only changed but has hardened,” a Foreign Ministry official said in a statement.

The British-based HSBC bank agreed to pay $1.9 billion to the U.S. government last week to settle accusations that it laundered drug money through its Mexican and other branches, and violated U.S. economic sanctions on Cuba.

The next day Washington announced that Japan’s Tokyo-Mitsubishi UFJ bank had agreed to pay $8.6 million to settle what the Cuban statement called “a supposed violation of the unilateral sanctions of the United States against various countries, including Cuba.”

Under the trade embargo, banks cannot move Cuban funds through U.S. financial institutions or handle U.S. dollar deposits for Cuban entities or citizens. Cuba is subject to other sanctions as well because it is on the U.S. list of countries that support international terrorism.

The Foreign Ministry statement noted that the sanctions came one month after the U.N. General Assembly voted overwhelmingly for the 21st time to condemn the 50-year-old trade embargo against Cuba.

While the HSBC settlement was reported to be one of the largest ever, the U.S. Treasury Department has hit several other foreign banks in recent years for violating sanctions on Cuba and other countries, especially Iran.

The Netherlands’ ING bank agreed to a $619 million settlement earlier this year. Credit Suisse agreed to pay $539 million in 2009. And the Swiss UBS bank was hit with a $100 million settlement in 2004.

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Slip-N-Slide’s Ted Lucas teams up with Miami Heat’s James Jones for All-Star Holiday weekend

Record executive Ted Lucas and Miami Heat star James Jones joined forces to bring holiday cheer to Miami Gardens kids — and motivate them to achieve academically — earlier this month

The All-Star Holiday weekend started with a toy distribution at North County K-8 Center on Dec.13

Lucas and Jones, who got good grades when growing up in Miami Gardens, got some help Santa Claus and Heat mascot Burnie to distribute bicycles, iPod Nanos and gift cards to those students who did well on their FCAT scores.

Later that evening, Miami Commissioner Michelle Spence-Jones and Miami Beach Commissioner Jonah Wolfson hosted a kick-off party at W Hotel Miami Beach. Lucas and Jones each received the key to the City of Miami Beach from Wolfson. Lucas is president of Slip-N-Slide Records, located on South Beach.

The weekend’s festivities also included a DREAM reception at Mercedes-Benz of Miami that highlighted talented local youth and honored teachers and included live performances by the Miami Norland High School drumline, DJ Elle and recording artist Sebastian Mikael.

The All-Star Holiday Weekend concluded with a special community fair at Buccaneer Park in Miami Gardens. Hundreds of residents from the surrounding area attended the free celebration for a day of games, activities, music, treats and giveaways.

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Brazilian company releases the ‘IPHONE’ after trademarking the name back in 2000

Title Post: Brazilian company releases the ‘IPHONE’ after trademarking the name back in 2000
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GOP’s Sandy $lash

WASHINGTON — Senate Republicans yesterday offered their own Hurricane Sandy relief bill — which is less than half the original proposed amount.

The GOP version calls for $23.8 billion to be spent on disaster relief for New York and New Jersey — while the bill offered by President Obama totaled $60.4 billion.

Sen. Dan Coats (R-Ind.) introduced the new legislation, which would fund aid through the first three months of next year.

Coats said the lower figure eliminated unnecessary spending — such as $150 million for fisheries in Alaska and Mississippi.

“The concept behind this, of course, is to be as careful as we can with the taxpayers’ money and make sure that each dollar spent is spent on something that has been thoroughly examined,” Coats said.

The bill isn’t likely to pass the Senate, which Democrats control with 52 votes.,

One of the biggest cuts in the funding involves reducing Community Development Block Grants from $15 billion to $2 billion. That money is viewed as critical to helping homeowners socked by the storm.

The move would also eliminate close to $11.3 billion in funding for future storm protection. Republicans left in the $9.7 billion to pay out claims from the National Flood Insurance Program.

Sen. Charles Schumer (D-NY) slammed the offer.

“This proposal is not even in the ballpark of what New York and New Jersey need,” Schumer said yesterday.

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