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Jul 21, 2012

DealBook | DealBook Afternoon Edition - Friday, July 21, 2012: Kayak and Palo Alto Networks Start Strong, but Fender Bows Out

 

Friday, July 20, 2012
TOP STORY
Kayak and Palo Alto Networks Start Strong, but Fender Bows Out It's hard to call it a comeback, but the pricing of stock offerings by Palo Alto Networks and Kayak Software above their expected ranges is certainly good news for the market for initial public offerings. The better-than-expected pricings for Palo Alto Networks and Kayak come as relief to I.P.O. bankers who have kept their fingers crossed for renewed signs of life in the market for initial offerings.
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    DEALBOOK HIGHLIGHTS
    Week in Review: Earnings Point to a Smaller Wall Street Disappointing second quarter earnings reports from the big banks offered fresh confirmation of the problems facing Wall Street. A look back on our reporting of the past week's highs and lows in finance.
    Deal Professor: Interesting Deals That Flew Under the Radar Steven M. Davidoff says that the last several weeks has brought several fascinating, less-noticed deals, including the Georgia Gulf/PPG deal and the holdings of Philip Falcone's special purpose entity.
    Mervyn King, governor of the Bank of England.
    Bank of England Says New York Fed Gave No Warning on Rate-Rigging American authorities did not warn British officials about the rate-rigging scandal during the height of the financial crisis in 2008, according to documents released by the Bank of England on Friday.
    Heineken Offers $4.1 Billion for Asia Pacific Breweries Stake Heineken's bid for a bigger stake in the Singapore-listed brewer of Tiger Beer trumped an offer by a Thai brewer, and would help bolster the Dutch company's footprint in fast-growing emerging markets.
    BUZZ TRACKER
    UBS's Track Record of Averting Prosecution James B. Stewart, the Common Sense columnist for The New York Times, says that the Swiss bank, one of more than a dozen being investigated for manipulating interest rates, has a trail of transgressions that makes it stand out from other banks.
    DealBook Video
    Business Day Live: Labor Unrest in India James B. Stewart asks why banks with a record of wrongdoing get immunity deals. | Deadly labor unrest at a car factory in India. | Bicyclists rely on cameras to provide evidence in accidents.

NYT Today's Headlines | Business: European Agency Backs Approval of a Gene Therapy



TOP NEWS

Gunman Kills 12 in Colorado, Reviving Gun Debate

By DAN FROSCH and KIRK JOHNSON
After a movie theater shooting that left at least 12 dead and 58 wounded, witnesses described a scene of claustrophobia, panic and blood.

Tax Loopholes Block Efforts to Close Gaping U.S. Deficit

By JONATHAN WEISMAN
Lawmakers point to ending tax dodges as the answer to much that ails the country, but one deficit hawk's fight for a loophole benefiting his constituents shows how difficult that is.

Liberal Donors Finding Home in Massachusetts Senate Race

By KATHARINE Q. SEELYE
Elizabeth Warren's haul - $24.5 million so far - has already catapulted her to No. 15 on the list of most successful Senate campaign money-raisers in history.
QUOTATION OF THE DAY
"Do I run out the door? Is he going to shoot the baby? What am I to do? I didn't drop the baby."
JAMIE ROHRS, 25, who was cradling his 4-month old son in his arms as shooting began at a movie theater in Aurora, Colo.; he and the baby escaped.

U.S.

Photographs: Terror at a Colorado Theater

Just after midnight on Friday, fantasy became nightmare, and a place of escape became a trap, when a man strode to the front in a multiplex near Denver and opened fire.
Opinion
Op-Ed Contributor

Searching for Clues to Calamity

Have we reached a tipping point that signals a climate disaster? Scientists are bringing mathematical rigor to find out.
WORLD

In Zimbabwe Land Takeover, a Golden Lining

By LYDIA POLGREEN
The seizure of white-owned farms was a disaster for Zimbabwe on many levels, but amid that pain, tens of thousands of people got small farm plots and many ended up faring pretty well.

Syrians Fleeing Capital Leave Bodies and Bombs Behind

By NEIL MacFARQUHAR
One family that managed to escape the deadly conflict in Syria and cross into Lebanon described a hellish landscape punctuated by explosions.

Inquiry Seeks Accomplices of Bomber in Bulgaria

By NICHOLAS KULISH and MATTHEW BRUNWASSER
The police are searching for clues to the identity of the bomber who blew up a bus filled with Israeli tourists on Wednesday, focusing new attention on his possible accomplice or accomplices.
U.S.

Colorado Gun Laws Remain Lax, Despite Changes After Columbine

By JOHN SCHWARTZ
Colorado law prohibits local governments from restricting gun rights in several significant ways, and gun control opponents have successfully fought other efforts to restrict access to guns.

In First, Software Emulates Lifespan of Entire Organism

By JOHN MARKOFF
Scientists have developed a software simulation, running on 128 computers, of a whole bacterium, a step toward carrying out full experiments without traditional instruments.

Troubles Mount in Scandal-Weary Capital

By SUSAN SAULNY and THEO EMERY
Mayor Vincent C. Gray is trying to conduct business as usual even as two supporters are charged with illegally funneling money into his 2010 campaign.
POLITICS

Overseas, Romney Will Try to Hone Foreign Policy

By HELENE COOPER and RICHARD A. OPPEL Jr.
Mitt Romney will use a trip to Britain, Israel and Poland next week to try to establish a foreign policy doctrine that distinguishes him from President Obama.

Obama Spends the Most, but Romney Raises More

By NICHOLAS CONFESSORE and DEREK WILLIS
Mitt Romney's campaign has improved its fund-raising from small donors, helping to build an advantage in money available after the two parties hold their nominating conventions.
The Caucus

Obama Cuts Short Florida Campaign Trip

By PETER BAKER
After the mass shooting at a Colorado movie theater, President Obama planned to return early to Washington on Friday, cutting short one scheduled appearance and canceling the second entirely.
BUSINESS

European Agency Backs Approval of a Gene Therapy

By ANDREW POLLACK
The therapy, which would treat a rare disease, could be the first regulatory approval of a gene therapy in the Western world.
DealBook

Libor Case Documents Show Timid Regulators

By BEN PROTESS and MARK SCOTT
Documents released on Friday show that regulators balked at playing a more public role in reform efforts in 2008, and some British officials pushed back on certain fixes.
Common Sense

For UBS, a Record of Averting Prosecution

By JAMES B. STEWART
The Swiss bank, one of more than a dozen being investigated for manipulating interest rates, has a trail of transgressions that makes it stand out from other banks.
TECHNOLOGY

He's Watching That, in Public? Pornography Takes Next Seat

By MATT RICHTEL
The use of computers, tablets and smartphones has given rise to growing public displays of pornographic content, a thorny issue for legislators, libraries and airlines to address.

Cameras Are Cyclists' 'Black Boxes' in Accidents

By NICK WINGFIELD
Footage from cameras used by bicyclists to document their rides has begun to play a role in police investigations of accidents, local authorities said.
Bits Blog

Online, Colorado Suspect Seems a Phantom

By SOMINI SENGUPTA
A common name and an unusual silence make Colorado shooting suspect a phantom -- so far -- in the digital age.
SPORTS

Snedeker Soars to First, and Into Third Round

By CHRISTOPHER CLAREY
Brandt Snedeker tied the 36-hole British Open record with a 10-under 130, and leads Adam Scott by one shot.

Two Lives After Losing to Jesse Owens

By ROBERT WEINTRAUB
Mack Robinson, who finished second to Jesse Owens in the 200, came home to degradation in his home city of Pasadena, Calif. Martinus Osendarp, the Dutch sprinter who was third, wound up in prison for war crimes.

Autographs and Absurdity at Annual SEC Media Days

By ROBERT WEINTRAUB
All conferences have preseason media gatherings, but no other conference's preseason event combines fanaticism, excess and eccentricity quite like the Southeastern Conference's.
ARTS

Who Can Improve on Nature? Magazine Editors

By CHRISTINE HAUGHNEY
Magazine editors and photographers regularly touch up their shots - even when the subjects are animals.
Critic's Notebook

With Departure, a Ballet Director Comes Into Focus

By ALASTAIR MACAULAY
The departing artistic director of the Royal Ballet reflects on her 54 years with the company.
Music Review

All Alone Onstage, Singing Songs of a Tumultuous Life

By ANTHONY TOMMASINI
Elizabeth Futral performs Kaija Saariaho's monodrama "Émilie" at the Gerald W. Lynch Theater.
NEW YORK / REGION

Woeful Trenton Sees Mayor Add Insult to Injury

By KATE ZERNIKE
Mayor Tony F. Mack's administration has been plagued by accusations of financial mismanagement, cronyism and corruption, and this week his home and offices were searched by the F.B.I.

After a Walk Over Niagara Falls, a Dispute Over a City's Bills

By THOMAS KAPLAN
A month after his tightrope walk, Nik Wallenda and the mayor of Niagara Falls, N.Y., disagree about whether Mr. Wallenda owes the city about $25,000.

A Changing Harlem Celebrates the Queen of Soul Food

By KIA GREGORY
Sylvia Woods was remembered by the neighborhood that made her restaurant a success and a cultural institution.
TRAVEL

Test Driving Disney's New Cars Land

By JESSE McKINLEY
Opened last month, Cars Land is part of an upgrade to Disney's California Adventure amusement park. But can it win over the ultimate critic, a 7-year-old "Cars" expert?

The Disney Adventure, Without the Kids

By ADAM NAGOURNEY
There's nostalgia, yes, and trying out the new rides. But there's also the option to duck into a quiet bar.
Cultured Traveler

Los Angeles? The Valley Is Way Cooler

By DAVID McANINCH
The perennially picked on San Fernando Valley may never be considered truly hip. But that's exactly its charm.
EDITORIALS
Editorial

Afghanistan's Economic Challenges

Corruption and poor governance are sabotaging its ability to become self-sufficient. Time is running out as American and coalition forces prepare to withdraw.
Editorial

The Shootings in Colorado

This latest in a series of murderous acts is a moment to reflect and to search for sensible answers about guns.
Editorial

A Challenge to a Brutal Anti-Latino Law

A federal court now has a chance to block the "show me your papers" section of Arizona's anti-immigrant law.
OP-ED
Op-Ed Columnist

Mourning and Mulling

By CHARLES M. BLOW
As America heals from the tragedy in Aurora, Colo., we will be called to question our values and laws, especially our gun laws.
Op-Ed Columnist

Guns and the Slog

By GAIL COLLINS
If anyone, gun control advocates know what it's like to go from one tragedy to the next in order to push for sensible laws.
Op-Ed Columnist

Financial Scandal Scorecard

By JOE NOCERA
Having you been keeping up with the latest financial scandals? There's a lot to sort through. Fraud, money laundering, rate-rigging. We've got it all.
ON THIS DAY
On July 21, 1925, the ''monkey trial'' ended in Dayton, Tenn., with John T. Scopes convicted of violating state law for teaching Darwin's theory of evolution. (The conviction was later overturned.)