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Bear Stearns to Take Write-Off on Specialist Unit (Update4)

May 14 (Bloomberg) -- Bear Stearns Cos. slashed the value of its New York Stock Exchange specialist unit and will take a $225 million charge as the shift to automated trading eliminates the need for brokers on the floor of the Big Board.

Bear Stearns also bought the 40 percent of the Bear Wagner unit it didn't already own from Hunter Partners LLC to ``give us more flexibility in managing the business in this changing environment,'' Chief Executive Officer James Cayne said in a statement today. Terms of the transaction weren't disclosed.

The NYSE's new automated trading system has eliminated work for floor traders who now handle about 18 percent of the 1.6 billion shares traded daily on the Big Board, down from 86 percent at the start of 2006, according to the exchange's Web site.

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Sequenom Reports First Quarter 2007 Financial Results

SAN DIEGO--(BUSINESS WIRE)--May 7, 2007 - Sequenom, Inc. (NASDAQ: SQNM) today reported financial results for the three months ended March 31, 2007. Revenues for the first quarter of 2007 rose 43.1% to $9.9 million, compared with revenues of $6.9 million for the first quarter of 2006. The increase in revenues for the quarter was primarily due to an increase in the number of placements of MassARRAY(R) systems, related product sales and growth in the Contract Research Services group. The net loss for the first quarter of 2007 of $3.7 million, or $0.11 per share, was primarily unchanged from the same period last year of $3.7 million, or $0.28 per share.

Cost of product and service revenue for the first quarter of 2007 was $4.4 million, compared with $2.7 million for the first quarter of 2006, with the increase primarily associated with higher sales volumes.

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MPS Group Announces First Quarter 2007 Results

JACKSONVILLE, Fla., April 26 /PRNewswire-FirstCall/ -- MPS Group, Inc. , a leading provider of specialty staffing, consulting, and business solutions, today announced financial results for the first quarter ended March 31, 2007. Revenue was above the range of guidance previously provided by management, and diluted net income per common share was within the range of guidance previously provided by management.

First Quarter Summary * Revenue was $510 million, up 16% versus the first quarter of 2006; * Excluding the effect of foreign currency exchange rates and acquisitions, revenue increased 7% versus the first quarter of 2006; * Gross profit was $140 million, up 19% versus the first quarter of 2006; * Diluted net income per common share was $0.17, up 13% from the first quarter of 2006; and * The Company used $11 million during the first quarter to repurchase Company stock.

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Forex - Dollar mixed in rangebound trade Sydney morning

SYDNEY (XFN-ASIA) - The dollar was up against the yen but softer against the euro in rangebound trade here ahead of today's Bank of Japan interest rate decision and US housing market data for February due later tonight, dealers said.

At 10.17 am here (2317 GMT Monday), the dollar was at 117.55 yen, up from 117.50 in late New York trading, while the euro was at 1.3309 usd, up from 1.3295 in New York.

Dealers said currency pairs moved in fairly narrow ranges overnight due to a lack of key data, while renewed risk appetite encouraged the rebuilding of carry trade positions, which saw dollar/yen hit a high of 117.80.

NAB Capital strategists said expectations that the BoJ will issue a relatively dovish statement after its policy decision later today also helped underpin dollar/yen, with hedge funds, leverage-type accounts and Japanese importers seen as buyers of the greenback.

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Apollo a Recommended Buy - Broker

The online stock broking firm India Infoline has indicated that Apollo Tyres is a prudent share purchase, and has placed a recommended buy rating on the stock with a target of Rs 397 (4.74). India Infoline describes Apollo as the leading commercial vehicle tyre player in India and adds that the company is expanding at a rapid pace, both organically and inorganically. The brokerage firm expects Apollos topline and bottom line to grow by 14.3 per cent and 26.2 per cent respectively between the 2006 and 2009 financial years.

Apollo is expanding passenger car tyre capacity by 1,100,000 units and light commercial tyre capacity by 100,000 units by the end of the 2007 financial year, increasing total production to 410 tonnes per day. To add to the tyremakers sharemarket desirability, Apollo have also recently commenced production of its Dura Tyre range of retreads, scheduled for initial launch in northern India in May 2007.

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Stocking the Wild Rainbow

McKenzie River: About 7,000 adipose fin-clipped rainbow trout will be scattered by boat between Blue River and the head of Leaburg Lake.

Leaburg Lake: The still waters behind Leaburg Dam will be stocked with 3,000 hatchery trout.

Clear Lake: To be planted with 4,500 trout. Resort restaurant won't be open, but rowboat rental will be available.

Carmen Reservoir: To be stocked with 3,500 trout.

Blue River: Stream above the reservoir will get 1,500 trout. .

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Easy Uploads from Flickr to Stock Photo Library 123RF

Royalty-free stock photo library 123RF is bringing stock photography to another level with the introduction of its Flickr API (Application Programming Interface) integration. Flickr is an online photo management and sharing community that lets users store, organize, share and create personalized premiums to family and friends. Flickr members can now upload their personal portfolio for sale at 123RF.com. With this new feature, Flickr members have the opportunity to convert their images into royalty-free stock photos and earn instant cash. Instead of just having their personal collection stored online, Flickr members now have the opportunity to see their masterpieces used in a commercial capacity. When Flickr users license their images on 123RF.com, customers can purchase the right to use these images on billboards, press advertisements, publications and other marketing campaigns.