Tuesday, November 22, 2011

DailyMarkets.com - Statoil Spreads In Indonesia

DailyMarkets.com - Statoil Spreads In Indonesia

Statoil Spreads In Indonesia

Posted: 22 Nov 2011 08:20 AM PST

Norwegian energy major Statoil ASA (NYSE:STO) has obtained a substantial working interest in a large chunk of an Indonesian block. The Halmahera II block – located in a frontier basin in Eastern Indonesia– is considered as 'exclusive' as no wells have been drilled so far in its proximity.
The exploration license covers an acreage exceeding 8,000 square kilometers and is subject to final government approval. Statoil will operate the license with an 80% working interest with Toronto-listed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Status Quo In Oct HWAY Well-Being

Posted: 22 Nov 2011 08:05 AM PST

Healthways (NASDAQ:HWAY), the well-being enhancement company, and statistical research services provider Gallup recently announced the results of the monthly Gallup-Healthways Well-Being Index ("WBI") for October 2011. The overarching WBI measure remained stagnant at a score of 65.6 versus 65.7 in September 2011. The WBI demonstrates that the American people are still struggling for access to basic requirements as reflected by the October score of 81.2, its nadir in four years. 
Among the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Netflix To Raise $400.0 Million

Posted: 22 Nov 2011 07:50 AM PST

Netflix Inc. (NFLX) recently announced that it will raise $400.0 million by issuing common equity and convertible notes. The video rental and online streaming provider expects the issuance of common equity and convertible notes to generate proceeds of approximately $397.0 million, after deducting offering expenses.
Netflix will raise $400.0 million from two premier investors namely T. Rowe Price Associates, Inc. and Technology Crossover Ventures (TCV). Netflix sold 2.86 million of common stock … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Eni Extends Indonesian Ties

Posted: 22 Nov 2011 07:40 AM PST

Italian energy major Eni SpA (NYSE:E) announced that its Indonesian unit has won two new Production Sharing Contracts (PSCs) in the country – one in the West Papua Province and the other in the offshore East Kalimantan Province.
Eni has won 100% interest in the Arguni I license in the West Papua Province of eastern Indonesia. The company intends to drill two wells on the block – located onshore and offshore in the Bintuni Basin – within the first 3 years of exploration using 2D and 3D … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Risk Off Continues

Posted: 22 Nov 2011 07:37 AM PST

Tuesday, November 22, 2011
The economic woes of the West and uncertainty as to whether China’s recent imports of Copper were simply a shift in inventories have Copper traders on edge. Things continue to look worse for Europe the longer the debt situation stretches on. Even strong economies such as Germany face the prospect of increased borrowing costs, which could slow the robust manufacturing sector there. Technically, December Copper must hold the pivotal $3 level or prices could face immense … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Pushes Against 100 Bar MA In Choppy Trade

Posted: 22 Nov 2011 07:36 AM PST

The sharp decline to the NY lows, could not be sustained and the price has rebounded back to the 100 bar MA on the 5 minute chart (at 1.3527 area) . The 1.3506 level where the 200 bar MA (green line) and 61.8% are found was a level that accelerated selling on the downside and accelerated the buying on the move back higher.  This level will continue to be eyed as a point where action should occur (either support or a break through).
On the hourly chart below the upward sloping trendline in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCHF Above And Below 200 Hour MA

Posted: 22 Nov 2011 07:36 AM PST

The USDCHF fell below the 200 hour MA and 38.2% retracement earlier in the London session, rebounded above level on the dollar rally in the early NY session but is now back testing the level.  The market has a decision to make at the level. Does it want to go higher or … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Life Tech Launches GeneArt Kits

Posted: 22 Nov 2011 07:30 AM PST

Life Technologies Corporation (LIFE) recently launched its GeneArt Algae Engineering Kits for photosynthetic microalgae Chlamydomonas reinhardtii and Synechococcus elongatus. These GeneArt Chlamydomonas Engineering Kits and GeneArt Synechoccus Engineering Kits help create the first standardized system for algae research and metabolic engineering.
The algal strains in the kits are model organisms for the study of photosynthesis, circadian rhythms and nutrient-regulated gene activity. These are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Duke Realty Renews Credit Facility

Posted: 22 Nov 2011 07:20 AM PST

Duke Realty Corporation (DRE), a real estate investment trust (REIT), has recently renewed its existing $850 million unsecured revolving credit facility scheduled to mature in February 2013 in its concerted effort to strengthen its liquidity and reduce refinancing risk.
J.P. Morgan Securities LLC, a division of JPMorgan Chase & Co. (JPM), and Wells Fargo Securities, LLC, part of Wells Fargo & Company (WFC) were the joint Lead Arrangers and joint Book Runners for the transaction.
The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mattel To Witness Management Churn

Posted: 22 Nov 2011 07:05 AM PST

Mattel Inc (NYSE:MAT) recently announced that Robert A. Ecker, who has served as the company's Chief Executive Officer (CEO) for more than a decade, will step down from his position at the end of the year. Bryan G. Stockton, the Chief Operating Officer (CFO) of the company, will take his position as the new CEO on the first day of the coming year.
Ecker joined Mattel in May 2000 as the chairman and CEO and since then has played a key role in the development of the company and has also navigated … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Mixed After GDP Reading; Dow Jones Down 0.10%

Posted: 22 Nov 2011 07:03 AM PST

Forexpros – U.S. stocks were mixed on Tuesday, as market sentiment weakened after revised data showed that the U.S. economy grew at a slower rate than initially estimated in the third quarter.

During early U.S. trade, the Dow Jones Industrial Average slipped 0.10%, the S&P 500 index rose 0.05%, while the Nasdaq Composite index advanced 0.17%.

The Commerce Department's second estimate of third quarter gross domestic product showed that the U.S. economy grew at an annualized rate of 2%, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sempra Energy To Expand Truck Fleet

Posted: 22 Nov 2011 06:50 AM PST

Sempra Energy (NYSE:SRE) announced that its regulated subsidiary Southern California Gas Company (SoCalGas) plans to add about 1,000 new natural gas-powered trucks to its fleet over the next five years. The addition will result in substantial fuel cost savings for the company, apart from being more environmentally friendly.
Compressed natural gas currently costs about $2 per gasoline gallon equivalent, offering the company significant fuel costs savings. Another major benefit of compressed natural … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Hold Gains After U.S. GDP Data

Posted: 22 Nov 2011 06:50 AM PST

Forexpros – Crude oil futures remained higher on Tuesday, shrugging off revised data showing that the U.S. economy grew at a slower pace than initially estimated in the third quarter.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD98.53 a barrel during early U.S. morning trade, surging 1.65%.

It earlier rose by as much as 1.85% to trade at USD98.69 a barrel, the highest price since November 18.

The U.S. Commerce Department's second … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets Consolidate As Supercommittee Fails; Risk-off After US GDP Revision

Posted: 22 Nov 2011 06:45 AM PST

Fundamental Headlines
• Oil Abundance in Canada Provokes Anxiety – Bloomberg
• Supercommittee Failure Poses Threat to U.S. Recovery – Bloomberg
• In Europe's Middle, Life Gets Tougher – Reuters
• No Respite for Spain on Markets despite Election Result – Reuters
• EU Warns Greece on Bailout – WSJ
European Session Summary
After yesterday's sell-off ahead of the announcement that the Congressional Joint Select Committee would not overcome its impasse, Asian and European … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Lower After U.S. Third Quarter GDP Data

Posted: 22 Nov 2011 06:38 AM PST

Forexpros – The U.S. dollar was lower against its Canadian counterpart on Tuesday, after official data showed that U.S. third quarter economic growth was unexpectedly revised down.

USD/CAD hit 1.0359 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.0371, shedding 0.27%.

The pair was likely to find support at 1.0267, Monday's low and resistance at 1.0418, Monday's high and a six-week high.

The U.S. Commerce Department's second estimate of gross … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GDP & Earnings…Who’s Ready For Some Retail?

Posted: 22 Nov 2011 06:35 AM PST

This is Mark Vickery, substituting for Sheraz Mian while he is away.

November 22, 2011

This morning, the first revision to gross domestic product (GDP) for the 3rd quarter of 2011 fell from 2.5% to 2.0%. Not a good headline number, for sure, but beneath it lie some pretty decent developments — relatively speaking, of course.

Most revisions were for a tenth of a point or so — negligible, especially considering there is a final revision on these numbers at this time next month — but the one … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pfizer’s Tofacitinib Under EU Review

Posted: 22 Nov 2011 06:35 AM PST

Pfizer Inc. (NYSE:PFE) recently announced that the European Medicines Agency (EMA) has validated its Market Authorization Application for tofacitinib. The company is looking to get tofacitinib approved for the treatment of moderate-to-severe active rheumatoid arthritis (RA).
With the EMA validating Pfizer's application for tofacitinib, the agency will begin its review process.
Tofacitinib is one of the most promising candidates in Pfizer's pipeline. Earlier this year, the company had presented … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Breaks Below 100 Hour MA. Will Momentum Continue?

Posted: 22 Nov 2011 06:34 AM PST

The EURUSD rotated back lower post the GDP data. The price is now below the 100 hour MA (blue line in the chart above) at the 1.3497 level.  Earlier, the price tried to rally above the 200 hour MA but failed when it reached the 38.2% of the move down from the November 11th high.  Will the momentum develop below the 100 hour MA now?
Traders wll be watching the retracement. On the 5 minute trader shorter term traders will likely be eyeing the 1.35064 area. This level corresponds … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Holds Gains After U.S. GDP Data

Posted: 22 Nov 2011 06:19 AM PST

Forexpros – The euro held gains against the yen on Tuesday, after revised data showed that the U.S. economy grew at a slower rate than initially estimated in the third quarter.

EUR/JPY hit 104.34 during European afternoon trade, the pair's highest since November 16; the pair subsequently consolidated at 104.05, still up 0.36%.

The pair was likely to find support at 102.72, the low of October 10 and resistance at 105.55, the high of November 15.

The Commerce Department's second estimate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dr Pepper’s New Repurchase Program

Posted: 22 Nov 2011 06:16 AM PST

Dr Pepper Snapple Group Inc. (NYSE:DPS), the leading manufacturer and distributor of non-alcoholic beverages in the U.S., recently declared that its board of directors has approved a new share repurchase program. The new program reflected the company's sound financial position and well-defined future prospects.
Under this program, the company will be authorized to repurchase up to $1.0 billion worth of common shares apart from its ongoing $2.0 billion share repurchase program. After this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Brocade Communications Systems, EBay, Gilead Sciences, Hewlett-Packard Company, Transatlantic Holdings, Tyson Foods, Pharmasset

Posted: 22 Nov 2011 06:11 AM PST

    Hewlett-Packard Company's (NYSE:HPQ) fourth quarter earnings per share came in at $1.17, higher than the Zacks Consensus Estimate of $1.13 per share

    Transatlantic Holdings Inc. (NYSE:TRH) has consented to be acquired by Alleghany in a stock-and-cash deal that is valued at roughly $3.4 billion

    Tyson Foods Inc. (NYSE:TSN) posted fourth-quarter and fiscal 2011 adjusted earnings per share of $0.26 cents and $1.97, respectively. Fourth quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Philip Morris Retaliates Oz Ruling

Posted: 22 Nov 2011 06:05 AM PST

Philip Morris International Inc.(NYSE:PM) is once again at conflict with the Aussie government, as the tobacco giant launched a multi-billion-dollar legal action against the latter's ruling of plain packaging of cigarettes.  
The latest ruling by the Federal Government entails cigarette manufacturers to sell their products in plain packages with warning labels occupying at least three fourth of the front side, as against the current norm of allocating 30% of the front space. Supposedly, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Erases Gains As U.S. Q3 GDP Revised Down

Posted: 22 Nov 2011 05:59 AM PST

Forexpros – The euro erased gains against the U.S. dollar on Tuesday, retreating from a two-day high after revised data showed that the U.S. economy grew at a slightly slower pace than previously estimated in the third quarter.

EUR/USD pulled away from 1.3568, the pair's highest since Friday, to hit 1.3485 during European afternoon trade, dipping 0.02%.

The pair was likely to find support at 1.3421, the low of November 17 and an almost six-week low and resistance at 1.3568, the days … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BOK Financial Stays At Neutral

Posted: 22 Nov 2011 05:51 AM PST

We are reiterating our Neutral recommendation on BOK Financial Corp. (NASDAQ:BOKF) following a detailed analysis of the company's third-quarter 2011 earnings results.
BOK Financial's third-quarter 2011 earnings came in at $1.24 per share, beating the Zacks Consensus Estimate by 19 cents and significantly outpacing  its closest competitor- International Bancshares Corporation (NASDAQ:IBOC) by 84 cents per share. The results also compared favorably with the prior-quarter earnings of $1.00 per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Q3 GDP Revised Down Unexpectedly

Posted: 22 Nov 2011 05:49 AM PST

Forexpros – The U.S. economy grew at a slower rate than initially estimated during the third quarter of 2011, official preliminary data showed on Tuesday.

In a report, the Bureau of Economic Analysis said gross domestic product increased at a seasonally adjusted annual rate of 2.0% during the third quarter, down from a previous estimate of 2.5%.

Analysts had expected the second estimate of U.S. gross domestic product to remain unchanged at 2.5%.

The data primarily reflects a downward … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canada Core Retail Sales Rise More-than-expected

Posted: 22 Nov 2011 05:40 AM PST

Forexpros – Core retail sales in Canada rose more-than-expected in September, official data showed on Tuesday.

In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.5% in September, beating expectations for a 0.4% increase.

Core retail sales rose by an unrevised 0.4% in August.

Total retail sales rose by a seasonally adjusted 1.0% in September, doubling expectations for a 0.5% gain. Retail sales for August were revised up to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCAD Tests Topside Again In Narrow Trading Range

Posted: 22 Nov 2011 05:34 AM PST

The range for the day in the USDCAD is very narrow. Looking for an extension … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wells Fargo Plans Layoffs

Posted: 22 Nov 2011 05:30 AM PST

Wells Fargo & Company (NYSE:WFC) is mulling over retrenching technology and operations workers as part of its cost containment measures, according to Reuters. The company will take this initiative with an aim to reduce about $1.5 billion quarterly operating expenses.
Moreover, according to sources, the bank is planning to layoff approximately 25 staff and removed 30 unfilled positions. Wells Fargo plans to reduce quarterly expenses for technology and staff by $188 million, and therefore more … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sugar Futures Drop To 5-month Low On China Demand Concerns

Posted: 22 Nov 2011 05:28 AM PST

Forexpros – Sugar futures declined on Tuesday, dropping to the lowest level since early June as ongoing concerns over a slowdown in Chinese demand continued to weigh on sentiment.

On the ICE Futures U.S. Exchange, sugar futures for March delivery traded at USD0.2389 a pound during European afternoon trade, dropping 1.2%.

It earlier fell by as much as 1.35% to trade at USD0.2386 a pound, the lowest since June 7.

Sugar prices have declined in seven of the last nine trading sessions and have … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DIRECTV To Streamline Expenses

Posted: 22 Nov 2011 05:20 AM PST

DIRECTV  (DTV), the largest satellite TV operator in the U.S. has decided to slash its expenses, mainly on hiring and programming in 2012, as a precaution for any economic slowdown. Management is doubtful about domestic economic growth in 2012 due to precipitous sovereign debt crisis in the European region, which is generating severe fluctuations in the global economy and next-year Presidential election in the U.S. Nevertheless, DIRECTV affirmed that its investments in strategic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Jack In The Box Profit Jumps

Posted: 22 Nov 2011 05:05 AM PST

Jack in the Box Inc. (JACK) has recently posted fourth quarter 2011 earnings of 49 cents per share, which surpassed the Zacks Consensus Estimate of 41 cents and improved from the year-ago earnings of 7 cents. In fiscal 2011, the company recorded full-year earnings of $1.61 versus $1.26 in the year-earlier period.
In the comparable period of last year, Jack in the Box shut down 40 company-operated units that resulted in a pre-tax charge $28.0 million. This in turn, diluted the earnings by 33 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Computerized Contact Lens

Posted: 22 Nov 2011 05:05 AM PST

DAILY MAIL — “Imagine catching up with your texts, social networking and perhaps the news without having to log on to a computer or even glance at a smartphone. Messages and images would simply appear in front of your eyes, generated by a computerized contact lens.

Scientists have developed a prototype lens that could one day provide the wearer with all kinds of hands-free information. It could also be used to display directions and TV programs.” 

HT: Warren … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

What Percent Are You?

Posted: 22 Nov 2011 04:57 AM PST

Enter your household income here and find out.

HT: Steve Bartin 

Update: At the Political Calculations blog, you can enter your individual income here and find your percentile, or enter your household income … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Modestly Lower As U.S. Q3 GDP Data On Tap

Posted: 22 Nov 2011 04:55 AM PST

Forexpros – The U.S. dollar remained modestly lower against its major counterparts on Tuesday, as concerns over sovereign debt loads in the euro zone and the U.S. continued to weigh on risk appetite.

During European afternoon trade, the dollar was lower against the euro, with EUR/USD rising 0.41% to hit 1.3542.

Earlier Tuesday Spain's Treasury sold EUR2.98 billion in three and six-month bonds in an auction which saw yields rise to 5.2% for the six-month bills, from 3.3% at a similar … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Just Off 6-week Low As U.S. Data Eyed

Posted: 22 Nov 2011 04:39 AM PST

Forexpros – The pound was hovering just above a six-week low against the U.S. dollar on Tuesday, as the outlook for riskier assets remained shaky ahead of the release of U.S. data on third quarter growth.

GBP/USD hit 1.5692 during European afternoon trade, the daily high; the pair subsequently consolidated at 1.5649, easing up 0.05%.

Cable was likely to find short-term support at 1.5612, Monday's low and a six-week low and resistance at 1.5797, Mondays high.

Market sentiment improved … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Higher On Debt Hopes; DAX Up 0.64%

Posted: 22 Nov 2011 04:20 AM PST

Forexpros – European stock markets extended gains on Tuesday, as market sentiment improved amid new hopes of a solution to the debt crisis in the euro zone, but concerns continued to weigh after a Spanish bond auction.

During European morning trade, the EURO STOXX 50 rose 0.57%, France's CAC 40 advanced 0.67%, while Germany's DAX 30 climbed 0.64%.

Market sentiment strengthened after European Union economic affairs Chief Olli Rehn said that a proposal from the German government for a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Extends Gains Ahead Of U.S. GDP Data

Posted: 22 Nov 2011 03:56 AM PST

Forexpros – The euro extended gains against the U.S. dollar on Tuesday, as the suggestion of a euro zone debt redemption fund lifted market sentiment but investors remained cautious over European and U.S. financial issues.

EUR/USD hit – during early European afternoon trade, the pair's highest since November 18; the pair subsequently consolidated at 1.3550, climbing 0.46%.

The pair was likely to find support at 1.3421, the low of November 17 and resistance at 1.3640, the high of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Higher But E.Z. Concerns Persist; Dow Jones Up 0.42%

Posted: 22 Nov 2011 03:37 AM PST

Forexpros – U.S. stock futures pointed to a higher open on Tuesday, as markets eyed preliminary U.S. gross domestic product figures and remained cautious amid sustained debt concerns in the euro zone after a Spanish bond sale.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.42%, S&P 500 futures signaled a 0.60% gain, while the Nasdaq 100 futures indicated a 0.11% increase.

Spain's Treasury sold EUR2.98 billion in three and six-month bonds in an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil, Gold To Rise As Traders Rethink Impact Of US Debt Stalemate

Posted: 22 Nov 2011 03:29 AM PST

Talking Points

Crude Oil to Rise as S&P 500 Futures Point to Rising Risk Appetite
Gold, Silver May Recover as Safe-Haven Flows Leave US Dollar

WTI Crude Oil (NY Close): $96.92 // -0.49 // -0.50%
European shares and S&P 500 stock index futures are firmly in positive territory, hinting crude oil is set to rise with a broad recovery in risk appetite. The rebound seems reasonable as traders digest yesterday's broad-based selloff in the wake of the failure of the "super-committee" of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Slides Against Swiss Franc As Risk Aversion Ebbs

Posted: 22 Nov 2011 03:27 AM PST

Forexpros – The U.S. dollar slid to a two-day low against the Swiss franc on Tuesday, as fears over immediate U.S. credit downgrades eased but the greenback remained supported amid concerns over sovereign debt issues in the U.S. and the euro zone.

USD/CHF hit 0.9113 during European morning trade, the pair's lowest since Friday, the pair subsequently consolidated at 0.9119, shedding 0.57%.

The pair was likely to find short-term support at 0.9075, the low of November 15 and resistance at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Corn Futures Ease Off 7-week Low As China Corn Imports Rise

Posted: 22 Nov 2011 03:21 AM PST

Forexpros – Corn futures were up for the first time in five days on Tuesday, rebounding from the previous session's seven-week low as a weaker U.S. dollar and indications that demand from top consumer China will remain strong supported prices.

On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD5.9988 a bushel during European morning trade, gaining 0.45%.

It earlier rose by as much as 0.65% to trade at a daily high of USD6.0150 a bushel.

Copper's gains … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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