Stocks edge lower after weak retail reports









Stock indexes edged lower Thursday after U.S. retailers issued weak forecasts for earnings and jobless claims rose.

Wal-Mart, Ross Stores and Limited Brands, the owner of Victoria's Secret, all fell after issuing forecasts that disappointed financial analysts. Wal-Mart fell $2.56, or 3.6 percent, to $68.75.

The Dow Jones industrial average wavered between small gains and losses shortly after the opening bell, then moved lower at midmorning. As of 2:45 p.m. EST, it was down 32 points at 12,538.

The Standard & Poor's 500 index was down two points at 1,353 and the Nasdaq composite was down eight at 2,837.

Stocks have fallen steadily since voters returned President Barack Obama and a divided Congress to power. The Dow lost 5 percent from Election Day, Nov. 6, through Wednesday's close.

Investors are worried about whether they will reach a deal before tax increases and government spending cuts take effect Jan. 1. The impact would total $700 billion for 2013 and could send the country back into recession.

President Barack Obama is to meet with congressional leaders Friday to talk about the budget, but he appeared to suggest Thursday that he would insist on an increase in tax rates for the wealthy.

T. Dale, a portfolio manager at Security Ballew Wealth Management in Jackson, Miss., said that stocks are more likely to fall than rise, partly because of slowing global economic growth and the U.S. budget impasse.

“The market has gotten well ahead of itself,” Dale said.

Superstorm Sandy drove the number of people seeking unemployment benefits up to 439,000 last week, the Labor Department reported. Applications for benefits rose 78,000, mostly because a large number were filed in storm-damaged states.

The European Union's statistics agency confirmed that the eurozone, the group of 17 countries that use the euro currency, are in recession. The overall economy shrank 0.1 percent in the third quarter from the previous three-month period.

Among the retailers disappointing Wall Street with lower earnings forecasts, Ross Stores, whose stores includes Ross Dress for Less, fell 78 cents, or 1.4 percent. Limited Brands dropped $1.20, or 2.6 percent, to $45.40.

The yield on the 10-year Treasury note was little changed at 1.59 percent.

Among stocks making big moves:

— NetApp, a data storage business, jumped $2.92 to $30.05 after the company reported earnings that were higher than analysts were expecting.

— Viacom, the owner of Nickelodeon, MTV and the Paramount movie and TV studio, rose $1.73 to $49.72. The media conglomerate did better than investors had expected thanks to lower costs and higher fees from cable and satellite companies for carrying its cable networks.

— Petsmart, a specialty pet retailer, jumped $2.31 to $67.17 after raising its full-year outlook.

— Target rose $1.19 to $62.58 after reporting that its profit rose more than analysts had forecast. The company also issued a strong outlook heading into the critical holiday season.

— Dollar Tree, a discount retailer that sells items for $1 or less, gained $2.08 to $39.82 after the company said its net income gained 49 percent in the third quarter.

— Apple's market value fell below $500 million for the first time since May, as the maker of smartphones and tablets dropped $8.01 to $529. The company's market value climbed as high as $658 million Sept. 19, according to FactSet data.

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Obama pressures House Republicans to pass tax breaks









WASHINGTON -- President Obama used his post-election news conference to pressure House Republicans to extend expiring tax rates for middle-class Americans – avoiding massive tax hikes in the New Year that he said could put a damper on the holiday shopping season.

Halting class tax hikes for 98% of Americans would ease the threat of the coming "fiscal cliff" – the year-end confluence of automatic tax hikes and spending cuts that Washington is now desperately trying to stop.

“We could get that done by next week,” Obama said.








Obama warned Republicans not to hold the middle-class tax cuts “hostage” as the debate continues over taxes for upper-income Americans. If both sides resist compromise, he said, “we can all imagine a scenario when we go off the fiscal cliff.”

Congressional Republicans have dismissed the president’s approach as incremental as they press for a comprehensive bill that would keep tax rates low -- or lower -- for all Americans, including those who earn incomes above $200,000, or $250,000 for couples, who Obama has said should pay more.

House Speaker John A. Boehner (R-Ohio) has made an opening offer that would extend all of the expiring tax rates for another year while Congress and the White House work on a broader overhaul of the tax code, with the goal of closing loopholes and using the revenue to lower all tax rates.

The White House has been cool to Boehner’s offer even as the president said Wednesday he remains open to new ideas.

“I don’t expect the Republicans to simply adopt my budget,” the president said. “When it comes to the top 2%, what I’m not going to do is extend further a tax cut for folks who don’t need it.”

Obama has invited congressional leaders to the White House on Friday to begin talks on the looming budget battle.

One idea circulating is to maintain the existing tax rates, as Republicans prefer, but capping deductions for upper-income households as a way to produce more revenue.

As talks begin, the White House appears to have begun a strategy that aims to isolate House Republicans as standing in the way of the tax break for the middle class. The Senate has already passed a bill that would extend the tax rates for the middle class. Without action, tax rates would rise on most Americans on Jan. 1, a tax hike that would ripple through the economy.

At the same time, massive spending cuts are scheduled to begin – the result of a previous deficit-reduction bill that both sides had previously agreed to, but now want to amend. Halting those cuts are also part of the talks.

Economists say the combined fiscal contraction of tax hikes and spending cuts could send the economy into another recession.

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Judge tosses anti-paparazzi counts in Bieber case

LOS ANGELES (AP) — A law aimed at combating reckless driving by paparazzi is overly broad and should not be used against the first photographer charged under its provisions, a judge ruled Wednesday.

Superior Court Judge Thomas Rubinson dismissed counts filed under the law against Paul Raef, who was charged in July with being involved in a high-speed pursuit of Justin Bieber.

The judge cited numerous problems with the 2010 law, saying it was aimed at First Amendment newsgathering activities, and lawmakers should have simply increased the penalties for reckless driving rather than targeting celebrity photographers.

Attorneys for Raef argued the law was unconstitutional and was meant merely to protect celebrities while punishing people who gather news.

"This discrimination sets a dangerous precedent," attorney Brad Kaiserman said.

Prosecutors argued that the law, which seeks to punish those who drive dangerously in pursuit of photos for commercial gain, didn't merely apply to the media but could apply to people in other professions.

Rubinson cited hypothetical examples in which wedding photographers or even photographers rushing to a portrait shoot with a celebrity could face additional penalties if charged under the new statute.

Raef still faces traditional reckless driving counts.

Prosecutors allege he chased Bieber at more than 80 mph and forced other motorists to avoid collisions while Raef tried to get shots of the teen heartthrob on a Los Angeles freeway in July.

Raef has not yet entered a plea in the case.

___

Anthony McCartney can be reached at http://twitter.com/mccartneyAP

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Filthy Water in California Farmworker Communities


Jim Wilson/The New York Times


Students at Stone Corral Elementary in Seville, Calif. The school budgets $100 to $500 a month for bottled water.







SEVILLE, Calif. — Like most children, the students at Stone Corral Elementary School here rejoice when the bell rings for recess and delight in christening a classroom pet.




But while growing up in this impoverished agricultural community of numbered roads and lush citrus orchards, young people have learned a harsh life lesson: “No tomes el agua!” — “Don’t drink the water!”


Seville, with a population of about 300, is one of dozens of predominantly Latino unincorporated communities in the Central Valley plagued for decades by contaminated drinking water. It is the grim result of more than half a century in which chemical fertilizers, animal wastes, pesticides and other substances have infiltrated aquifers, seeping into the groundwater and eventually into the tap. An estimated 20 percent of small public water systems in Tulare County are unable to meet safe nitrate levels, according to a United Nations representative.


In farmworker communities like Seville, a place of rusty rural mailboxes and backyard roosters where the average yearly income is $14,000, residents like Rebecca Quintana pay double for water: for the tap water they use to shower and wash clothes, and for the five-gallon bottles they must buy weekly for drinking, cooking and brushing their teeth.


It is a life teeming with worry: about children accidentally sipping contaminated water while cooling off with a garden hose, about not having enough clean water for an elderly parent’s medications, about finding a rock while cleaning the feeding tube of a severely disabled daughter, as Lorie Nieto did. She vowed never to use tap water again.


Chris Kemper, the school’s principal, budgets $100 to $500 a month for bottled water. He recalled his astonishment, upon his arrival four years ago, at encountering the “ghost” drinking fountains, shut off to protect students from “weird foggyish water,” as one sixth grader, Jacob Cabrera, put it. Mr. Kemper said he associated such conditions with third world countries. “I always picture it as a laptop a month for the school,” he said of the added cost of water.


Here in Tulare County, one of the country’s leading dairy producers, where animal waste lagoons penetrate the air and soil, most residents rely on groundwater as the source for drinking water. A study by the University of California, Davis, this year estimated that 254,000 people in the Tulare Basin and Salinas Valley, prime agricultural regions with about 2.6 million residents, were at risk for nitrate contamination of their drinking water. Nitrates have been linked to thyroid disease and make infants susceptible to “blue baby syndrome,” a potentially fatal condition that interferes with the blood’s capacity to carry oxygen.


Communities like Seville, where corroded piping runs through a murky irrigation ditch and into a solitary well, are particularly vulnerable to nitrate contamination, lacking financial resources for backup systems. Fertilizer and other chemicals applied to cropland decades ago will continue to affect groundwater for years, according to the Davis study.


“You can’t smell it,” Mrs. Quintana said of the dangers of the tap. “You can’t see it. It looks like plain beautiful water.”


Situated off the psychic map of California, lacking political clout and even mayors, places like Seville and Tooleville to the south have long been excluded from regional land use and investment decisions, said Phoebe S. Seaton, the director of a community initiative for California Rural Legal Assistance. Residents rely on county governments and tiny resident-run public utility districts. The result of this jurisdictional patchwork is a fragmented water delivery system and frequently deteriorating infrastructure.


Many such communities started as farm labor camps without infrastructure, said John A. Capitman, a professor at California State University, Fresno, and the executive director of the Central Valley Health Policy Institute. Today, one in five residents in the Central Valley live below the federal poverty line. Many spend up to 10 percent of their income on water. “The laborers and residents of this region have borne a lot of the social costs of food production,” Professor Capitman said.


Bertha Diaz, a farmworker and single mother of four in East Orosi, rises at 4 in the morning to pick grapefruit and other crops. Her chief concern, she said, was how she would afford bottled water.


She comes home to an additional chore — filling five-gallon jugs at the Watermill Express, a self-serve drinking water station in nearby Orosi with a windmill roof. When she began receiving cautionary notices from the local water district, she formed a neighborhood committee and also joined AGUA, the Spanish-language acronym for the Association of People United for Water, a network of residents working with the nonprofit Community Water Center.


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Starbucks pushes hard into tea with $620-million Teavana buy









Starbucks Coffee Co. will buy Teavana Holdings Inc. for $620 million in cash as the coffee giant powers deeper into the tea market.

The $15.50-a-share price is lower than the $17 a share at which Teavana was priced for its public debut last July. The stock opened at $28.95 a share but has since slumped heavily to close at $10.09 a share Tuesday.

But after Starbucks’ afternoon announcement Wednesday, Teavana shares surged as much as 59% to $16.06 a share.





Starbucks said it plans to expand Teavana’s existing 300 mall-based stores while adding a “high-profile neighborhood store concept.” The tea company was attractive, Starbucks executives said, because of its industry expertise and global sourcing network.

Atlanta, Ga.-based Teavana was founded in 1997 and offers more than 100 kinds of premium loose-leaf teas, artisanal tea equipment and other merchandise.

The global tea industry is valued at $40 billion and is growing fast, according to Starbucks.

The Seattle cafe company already owns Tazo Tea -- a brand now worth $1.4 billion -- which Starbucks picked up in 1999. Teavana “complements Tazo,” said Starbucks Chief Executive Howard Schultz in a blog post.

The Teavana deal is a “signal that we have moved our plan to fundamentally transform the consumer tea experience in both North American and international markets into high gear,” Schultz said.

Starbucks has also begun to expand heavily into the juice market, announcing plans to grow its Evolution Fresh chain of stores into California in the fall.

In June, Starbucks also opened its first standalone tea shop, operating under the Tazo brand, near the company’s Seattle headquarters.

ALSO:

Starbucks opens first store in tea-centric India

Starbucks to open first Tazo tea shop in Washington

Starbucks to open first Evolution Fresh juice store in California





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L.A. City Council votes to put sales tax hike on March 5 ballot









Searching for a long-term solution to the city's chronic financial woes, the Los Angeles City Council agreed Tuesday to ask voters for a $200-million-a-year increase in sales tax collections.

The proposed half-cent per dollar boost in taxes on millions of everyday purchases, which would appear on the ballot in the March 5 mayoral election, has drawn sharp criticism from opponents. Four council members cast opposing votes: Mitchell Englander, Eric Garcetti, Jan Perry and Dennis Zine.

Because the vote was not unanimous, a second vote will be needed next week.

Advocates for working-class families argue that the rush to get the measure on the ballot left them out of talks that took place behind the scenes between city leaders and the real estate industry.

Sunyoung Yang, lead organizer with the Bus Riders Union, said her group had not yet taken a position on the sales tax but frequently opposes “regressive” measures that charge rich and poor equally. “If they really wanted to have a more democratic and fair process they would have consulted different community groups that have contact with their constituents on a daily basis,” he said.

The vote also drew criticism from former Mayor Richard Riordan, who accused city leaders of pushing the financial responsibility for costly pension expenditures onto taxpayers. Riordan is trying to get a measure on the May municipal election ballot that would move new employees away from a government pension and into a 401(k)-style plan.

“It's no longer possible to hide what's really going on,” said Riordan spokesman John Schwada. “These are pension taxes.”

Council President Herb Wesson defended the council's handling of the issue, saying the city had already removed 5,000 positions from the payroll and secured concessions from its employees on retirement costs. “We have done many tough things to show we’re serious about putting this city on the right economic path,” he said. “But I don’t think we can solely cut our way out of this problem.”

Added Councilman Paul Krekorian: “There is no place left other than public safety to make significant reductions”

Perry, in voting no, said she feared the tax would "cause other businesses to reconsider coming here or cause them to leave.”

Budget officials had spent six months laying the groundwork for a real estate transaction tax. But the real estate lobby steered them away from that proposal and toward a sales tax hike, saying the latter  would generate more than twice as much money while faring considerably better with voters.

Last Friday, a firm hired by the city found that a sales tax could lead to as much as a 1.3% drop in business spending. That firm said the biggest bite would be felt by sellers of buildings supplies, who would see a decrease as large as 3.9%.

Pressure to raise revenues has been growing because years of belt-tightening and cuts in basic services have failed to erase huge annual budget deficits.

Mayor Antonio Villaraigosa said that before he supports the proposed tax hike he wants to see the council reaffirm its support for Los Angeles Police Department hiring. The department has added roughly 800 officers since he became mayor. Villaraigosa also wants the city to move ahead with the elimination of nearly 160 civilian jobs at the LAPD, possibly through layoffs.

That view was not shared by Councilman Bill Rosendahl, who said he opposed both the cuts in civilian LAPD employees and a companion measure to lay off 50 city attorneys. Although he agreed that a sales tax would be regressive, he argued that alternative proposals would have failed at the polls.

“What [this] will do is give us $200 million that we desperately need,” he added.



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Verizon and HTC’s latest twist: The $199 Droid DNA
















Verizon and HTC unveiled a new device that the two hope will appeal to customers during the holiday season, while helping to reverse HTC’s floundering fortunes.


The phone, the Droid DNA, sports a 5-inch screen, putting it more in the “phablet” category with Samsung‘s Galaxy Note. It runs on Android 4.1.1 Jelly Bean and includes a boatload of powerful features, including a Super LCD 3 display with 440 pixels per inch, capable of playing 1080p HD video.













HTC noted the screen rivals traditional HDTVs, while the pixel density is among the highest available on any smartphone. The iPhone 5′s Retina display, for example, is 326 pixels per inch.


The device runs on a quad-core, 1.5Ghz Snapdragon processor from Qualcomm, with 4G LTE integrated on the same piece of silicon as the application processor. Having one chip instead of two improves battery life.


The phone is also capable of wireless charging and full HD video chat. The device has an 8-megapixel rear-facing camera and a 2.1-megapixel camera in the front. HTC noted its phone features HTC ImageSense and HTC ImageChip to create faster image processing and better quality photos, as well as a quick-launch camera option.


The Droid DNA also has Beats audio and two amplifiers, one for headphone and one for speaker. And it’s equipped with near-field communications technology to share music and other content by tapping other NFC-enabled devices.


Droid DNA goes on sale on November 21 for $ 199.99 with a two-year contract. Pre-sales begin today. The phone is available exclusively through Verizon.


The hefty specs should appeal to customers looking for alternatives to the latest gadgets from Samsung and Apple during the holiday season. For HTC, it’s pretty important that they do.


The Taiwanese handset maker really needs a hit phone. Previously the darling of the smartphone world, HTC has been having a tough time lately. Samsung and Apple are dominating the industry’s profits and market share, leaving little for HTC, Motorola, Nokia, and other handset vendors. HTC also has faced litigation, though it reached a settlement with Apple a few days ago.


The company has said it plans to go bolder with its messaging to consumers and the media, relying less on joint marketing campaigns with the carriers and standing more independently to tell the HTC story. It also has said it would try to generate buzz through social media and by seeing out influential celebrities and “superfans” for endorsements. So far, it’s unclear whether such steps are paying off.


Related stories:


Wireless News Headlines – Yahoo! News



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Day-Lewis heeded inner ear to find Lincoln's voice

LOS ANGELES (AP) — A towering figure such as Abraham Lincoln, who stood 6 feet 4 and was one of history's master orators, must have had a booming voice to match, right? Not in Daniel Day-Lewis' interpretation.

Day-Lewis, who plays the 16th president in Steven Spielberg's epic film biography "Lincoln," which goes into wide release this weekend, settled on a higher, softer voice, saying it's more true to descriptions of how the man actually spoke.

"There are numerous accounts, contemporary accounts, of his speaking voice. They tend to imply that it was fairly high, in a high register, which I believe allowed him to reach greater numbers of people when he was speaking publicly," Day-Lewis said in an interview. "Because the higher registers tend to reach farther than the lower tones, so that would have been useful to him."

"Lincoln" is just the fifth film in the last 15 years for Day-Lewis, a two-time Academy Award winner for best actor ("My Left Foot" and "There Will Be Blood"). Much of his pickiness stems from a need to understand characters intimately enough to feel that he's actually living out their experiences.

The soft, reedy voice of his Lincoln grew out of that preparation.

"I don't separate vocal work, and I don't dismember a character into its component parts and then kind of bolt it all together, and off you go," Day-Lewis said. "I tend to try and allow things to happen slowly, over a long period of time. As I feel I'm growing into a sense of that life, if I'm lucky, I begin to hear a voice.

"And I don't mean in a supernatural sense. I begin to hear the sound of a voice, and if I like the sound of that, I live with that for a while in my mind's ear, whatever one might call it, my inner ear, and then I set about trying to reproduce that."

Lincoln himself likely learned to use his voice to his advantage depending on the situation, Day-Lewis said.

"He was a supreme politician. I've no doubt in my mind that when you think of all the influences in his life, from his childhood in Kentucky and Indiana and a good part of his younger life in southern Illinois, that the sounds of all those regions would have come together in him somehow.

"And I feel that he probably learned how to play with his voice in public and use it in certain ways in certain places and in certain other ways in other places. Especially in the manner in which he expressed himself. I think, I've no doubt that he was conscious enough of his image."

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‘Half-Match’ Bone Marrow Transplants Cure Sickle Cell in Trial





In her mid-20s, Yetunde Felix-Ukwu wore a Fentanyl patch that delivered enough narcotic to knock most adults out cold. Yet it barely kept her pain, caused by sickle cell disease, tolerable.




Even with the patch, she was hospitalized almost every month for the pain, which she said was “like being hit with a hammer, searing, throbbing, you name it.”


A debilitating genetic disorder, sickle-cell disease causes blood cells to be shaped like sickles, or crescents, and to be rigid, not pliable. Rather than squeezing in and out of capillaries and blood vessels as normal cells do, the sickle cells jam up, depriving tissues throughout the body of blood and oxygen. That can cause severe organ damage, stroke, blindness and unimaginable pain.


“Imagine heart attack pain all over the body,” said Dr. Robert A. Brodsky, director of the division of hematology at Johns Hopkins University School of Medicine. Many patients don’t live past 50.


A bone marrow transplant could help. The problem is, most patients, including Ms. Felix-Ukwu, cannot get a bone marrow transplant because they don’t have a perfect genetic match. Like a vast majority of others who have sickle cell disease, Ms. Felix-Ukwu is African-American, and the chance of an African-American finding a donor in bone marrow registries is about 10 percent, compared with a 60 to 70 percent chance for Caucasians, Dr. Brodsky said.


Dr. Brodsky and his colleagues at Johns Hopkins, however, began a bone marrow transplant trial using so-called half-match donors. The trial has found that the procedure can cure sickle cell, replacing defective stem cells that produce sickle-shaped cells with normal stem cells that churn out plump, pliable blood cells.


Since almost everyone with a sibling, a parent or a child has a genetic half match, the procedure could make bone marrow transplants available to more than 90 percent of candidates.


“It opens the opportunity for a cure for thousands of adults with the disease who previously had not had any hope of a cure,” said Dr. Michael DeBaun, director of the Center for Excellence in Sickle Cell Disease at Vanderbilt University School of Medicine. Dr. DeBaun was not involved with the half-match trial.


Beginning in high school, Ms. Felix-Ukwu, now 30, had undergone regular transfusions to dilute and temporarily replace the sickle cells in her blood, but the transfusions stopped helping. Half-match donors have been used for about a decade in bone marrow transplants for leukemia and lymphoma patients, and the doctors believed it was now safe enough to use in sickle cell patients.


Ms. Felix-Ukwu, who lives in Lanham, Md., enrolled in the Johns Hopkins study, and her younger sister, Woma Felix-Ukwu, became her half-matched bone marrow donor.


Ms. Felix-Ukwu had to undergo a grueling course of chemotherapy, radiation and immunosuppresants before receiving the transplant.


“Those three days of chemo were the hardest days of my life, including all the pain I had been through with sickle cell,” she said. But it worked. Her body started producing normal blood cells. She continued to have some pain for another 18 months or so, for reasons that are not entirely clear, but now, three years after the transplant, Ms. Felix-Ukwu is disease-free and off all of her pain medications.


“It’s absolutely amazing,” says Dr. Brodsky, who published the study this month in Blood, the journal of the American Society of Hematology. Of the 14 patients in the study who received half-matched transplants, six were cured, meaning that their bone marrow is made up entirely of the donor’s and they are no longer producing sickle cells.


Two additional patients are still taking immunosuppressive drugs, meaning that the donor’s bone marrow took, but they still have some of their own marrow. They still have a chance of being cured.


In a half-match transplant, known medically as haploidentical transplant, only 50 percent of the pertinent genes have to match up. Testing for a bone marrow match entails looking for genes in the human leukocyte antigen, or H.L.A., system, the part of the immune system that recognizes self and not self.


In a full match, 8 to 10 H.L.A. genes need to match between donor and recipient.


“If you have disparities in the H.L.A. system and you transplant stem cells that recognize the patient as foreign, the new immune system will start attacking the patient,” said Dr. Brodsky. In half-match transplants, only half of these H.L.A. genes need to match.


But half-match transplants carry the risk that the donor’s immune cells will attack the host, a potentially deadly complication called graft-versus-host disease.


To reduce this risk, patients receive the chemotherapeutic drug cyclophosphamide after the bone marrow is transplanted. This drug kills the donor’s lymphocytes that would normally attack the recipient, but it spares the donor stem cells, which have an enzyme that makes them immune to it. The stem cells then produce new lymphocytes.


“What happens is that the new cells that are generated become tolerant to the host and will not attack it,” says Dr. Javier Bolaños-Meade, the lead author on the study and associate professor of oncology at Johns Hopkins.


“The biggest paradigm shift was the post-treatment chemo,” added Dr. Brodsky.


The other shift was the trend toward a gentler pre-treatment. In a traditional bone marrow transplant to treat cancer, patients receive high-dose chemotherapy and radiation before the transplant, not only to suppress the immune system but to kill off every last cancer cell in the body. But in sickle cell, the chemotherapy just has to suppress the immune system, so doctors can use a less intense regimen.


This could potentially open it up to many more adults. Bone marrow transplants have largely been offered to children with sickle cell, not adults, who were often too weak or debilitated to endure the more intense pre-treatments.


The half-match transplant is still experimental, and because of its toxicity, it is recommended only for those with advanced disease. It was successful in only about 50 percent of patients.


“You’re putting people through a lot, and to have half of the transplants not take must be heartbreaking,” said Dr. Jane Little, director of the adult sickle cell program at Case Western Reserve University in Cleveland. “It’s exposing patients to risk you can’t take away. But it also really expands the pool of potential recipients.”


The team at Johns Hopkins is tweaking the procedure to improve the success rate without increasing the toxicity, said Dr. Bolaños-Meade. “We are working on transplanting with a higher number of stem cells to help overcome rejection,” he said.


“Clearly it doesn’t cure everyone, but in those patients in which it works, it’s a huge, huge thing,” Dr. Bolaños-Meade said.


This August, Ms. Felix-Ukwu celebrated a year without being in the hospital. She plans to go back to law school next September.


“When I look back, I wonder how I ever made it through all that pain,” she said. “Now I feel like I’m on vacation. I finally have the freedom to be able to live my life.”


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US drifting lower; Home Depot boosts Dow average









U.S. stocks drifted lower in uneven trading Tuesday as fears about the “fiscal cliff” and Greece tipped major indexes between gains and losses. A surge in Home Depot's stock prevented a much-steeper drop for the Dow Jones industrial average.

The Dow was down six points at 12,808 as of 3:15 p.m. Eastern time. It would have been far lower without support from Home Depot, whose stock jumped 4 percent after the big-box retailer beat expectations for its fiscal third-quarter earnings. Home Depot is benefiting from the gradual housing recovery and rebuilding efforts after Superstorm Sandy. Home Depot rose $2.37 to $63.53.

Stocks had opened lower after European leaders postponed the latest aid package for Greece. The Dow turned positive in the first hour of trading and rose solidly through the morning, gaining as much as 83 points.

By late afternoon, the index was nearly flat. The Standard & Poor's 500 index fell a fraction to 1,370. The Nasdaq composite index lost 10 points to $2,894.

Investors are trading against the backdrop of the “fiscal cliff,” a set of U.S. government spending cuts and tax increases that will take effect automatically at the beginning of next year unless U.S. leaders reach a compromise before then.

Worries about the fiscal cliff pushed U.S. stocks to one of their worst weekly losses of the year last week after voters re-elected President Barack Obama and a deeply divided Congress. Obama was set to meet Tuesday with labor leaders and others who advocate higher taxes on the wealthy and want to protect health benefits for seniors and other government programs. Obama will meet with business leaders Wednesday.

“The longer we sit and do nothing” about the nation's fiscal issues, “the more this market is going to oscillate between positive 40 and negative 60, until we know what's going to happen next with all this uncertainty,” said Craig Johnson, senior technical research strategist with Piper Jaffray & Co. in Minneapolis.

Johnson expects the S&P 500 will reach 1,550 in the next six months as investors get over their lingering wooziness from the 2009 bear market and companies get a clearer sense of how government policy on taxes, health care and spending will affect them.

European stock markets had been lower but rose after trading opened in New York. Benchmark indexes in France, Britain and Germany closed modestly higher.

Traders there are concerned because finance ministers postponed $40 billion in desperately needed aid for Greece. The news surprised investors. A day earlier, there was word that leaders had prepared a “positive” report on Greece, making it appear likely that the aid would be released.

“It's a little bit like Groundhog Day,” said Nicholas Colas, chief market strategist at ConvergEx Group, referring to the classic Bill Murray movie whose protagonist must relive the same day over and over. Until there is decisive news from Washington or Brussels, neither of which appear imminent, markets will remain vulnerable to headlines that mean little in the long run, Colas said.

The next major catalysts for a market move, Colas said, will be gauges of spending by consumers on Black Friday, the traditional shopping rush on the day after Thanksgiving.

Greece's neighbors decided to give the country two more years to meet its economic targets. They still disagree with the International Monetary Fund, another key lender, over how to manage the country's debt over the long term. Until lenders reach an accord, they can't release the billions that Greece needs to make upcoming payments.

IMF managing director Christine Lagarde said Greece should reduce its debt burden down to 120 percent of its economic output by 2020, the original target of 2020. But Jean-Claude Juncker, leader of the euro zone's finance ministers, said that the deadline would likely be changed to 2022. The lenders will meet again on Nov. 20.

The yield on the 10-year Treasury note slid to 1.59 percent from 1.64 percent late Friday as demand increased for ultra-safe investments. The U.S. bond market was closed on Monday in observance of the Veterans Day holiday.

Among stocks making big moves:

Microsoft plunged 4 percent after it announced the departure of Steven Sinofsky, who ran its Windows division. The unexpected move comes just weeks after Microsoft launched Windows 8, its first major overhaul in years of the operating system used on most of the world's computers. Microsoft fell $1.08 to $27.14.

Weatherford International dropped 17 percent a day after the oilfield services company reported disappointing third-quarter revenue and said it had uncovered “material weakness in internal controls over financial reporting related to the accounting for a percentage of completion contract in Iraq.” Weatherford took write-downs in the first and second quarters because of them. Its stock fell $1.81 to $9.07.

Apparel chain operator TJX Cos., the parent of TJ Maxx and Marshalls, rose 3 percent after raising its full-year earnings forecast and reporting third-quarter revenue that exceeded analysts' expectations. The stock added $1.13 to $42.09.

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