Stocks & Equities
Last night, Apple confirmed that it bought Israeli-based startup PrimeSense, the company best known for helping Microsoft develop the motion-tracking technology used for the Xbox Kinect.
The price of the acquisition is reported to be $360 million, which makes it one of Apple’s biggest purchases.
As the Guardian points out, this means Apple is going to put PrimeSense’s technology to work. Apple’s other big buys: PA Semi, which has been used to develop iPhone chips; Authentec, which was used for the fingerprint scanner in the iPhone 5S; Quattro Wireless which became iAd; and so on …
So, what’s Apple going to do with it? We’re speculating here, but it sure seems like PrimeSense’s 3D technology will be used in the Apple TV. It may or may not work its way into a full-on Apple television, but it seems fairly certain it will be in the little Apple TV box.
PrimeSense is primarily known for 3D sensors, which are used for gesture-based interactions. So, imagine swiping your hands in the air, and stuff on your screen moves — that’s what PrimeSense does.
In September, Mark Gurman, one of the best Apple reporters in the world, said, “we have been consistently hearing from our sources that Apple is thoroughly testing Xbox Kinect-like motion sensors for future TV-related products. When Apple plans to release motion-controlled TVs, however, is uncertain.”
Perhaps with the PrimeSense team in-house, Apple will be able to smooth out the kinks in its motion-based technology and implement it in a forthcoming version of the Apple TV.
Read more: http://www.businessinsider.com/apples-acquisition-of-primesense-may-be-for-tv-2013-11#ixzz2lhIvBfXy
Using new exoskeleton technology that allows the paralyzed to walk again, the largest gathering ever of ReWalk users from across the world came together in New York City on Sunday to participate in the Generosity 5K to raise money for the Bronx Veterans Medical Research Foundation.
ARGO Medical’s Rewalk suit is living up to its promise: to revolutionize the way paraplegics and other people with disabilities live.
“Regardless of whether it’s from ARGO or another company, it’s a technology that none of us realize how big of a difference it makes in the health of a patient,” ARGO Medical Technologies CEO Larry Jasinski told FoxNews.com.
Although it rained in New York City on Monday, the rain stayed away Sunday while seven ReWalkers and hundreds of supporters successfully made their way through Manhattan’s Riverside Park.
“I think the most important thing was that the ReWalkers completed the walk,” Jasinski said.
Among the participants was the inventor of the suit, Dr. Amit Goffer. Goffer is himself a quadriplegic who became frustrated by the outdated wheelchair and wanted to create something that would allow people with spinal cord injuries to walk again.
“What’s unique about ReWalk is that behind the left elbow of the user is a motion sensor that picks up a user’s movement when they walk,” Jasinski said. “That is attached to a computer that can replicate human gait to create a non-robotic walking step.”
Most other types of technologies cause an unnatural, stiff walk closer to a robot than to the way humans stride. ReWalk helps to create a more natural and human-like step.
“It’s the closest to walking that I can get. It’s a very good feeling,” ReWalker Gene Laureano, a father of four who became paralyzed 12 years ago after falling from a ladder at his construction job, told the New York Post.
The 44-pound ReWalk suit is composed of two motorized limbs that strap to the legs, hips and trunk. The motion sensors detect when the user leans forward and begins moving.
The suit is currently available only in the Middle East and Europe, but Jasinski says he hopes to have FDA approval to sell the suits in the United States for an approximate $65,000.
“We believe the cost of the device will be more than offset by cost savings in reduction of medication and medical care,” he said.
“When we ask people why they buy the suit, the top five answers do not include walking again,” Jasinski told FoxNews.com. “Reduction in pain, medication and overall improvement in their wellbeing are more important. [ReWalk] is really making a difference in people’s lives.”
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The Dow has been showing a modest gain, last up about 36 points.
The S&P 500 and Nasdaq have been staying positive, but just barely.
The S&P is up 1 point @ 8:45 am PST, while the Nasdaq was last up about 1 point and holding under 4,000 after briefly conquering that milestone level.
J.C. Penney is up about 5%, making it one of the S&P 500’s biggest gainers in one of its last days as part of that index.
At this point, it’s not coming under any pressure at all from that news late Friday that it’s leaving the S&P 500.
Boeing is down more than 2%, making it the biggest loser today among Dow components. The aerospace company seems to be getting hit by its warning about engine icing risks for certain new planes.
Meanwhile, Caterpillar continues to provide a lift to the blue-chip index, rising more than 2% after an upgrade.
Meanwhile, Caterpillar continues to provide a lift to the blue-chip index, rising more than 2% after an upgrade.
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Getting back to Facebook and Yelp…
There wasn’t much fundamental news on either Monday, leading some on Twitter to speculate about momentum stocks being in trouble, says the Tech Stocks column.
October Housing Starts to be released at 8:30 AM EST on Tuesday are expected to increase to 915,000 from 891,000 in August.
September Case/Shiller 20 City Home Price Index to be released at 9:00 AM EST on Tuesday is expected to increase 13.0% from 12.8% in August
November Consumer Confidence Index to be released at 10:00 AM EST on Tuesday is expected to increase to 72.4 from 71.2 in October.
Weekly Jobless Claims to be released at 8:30 AM EST on Wednesday are expected to increase to 330,000 from 323,000 last week
October Durable Goods Orders to be released at 8:30 AM EST on Wednesday are expected to fall 2.2% versus a gain of 3.8% in September. Excluding Transportation, October Durable Goods Orders are expected to increase 0.2% versus a decline of 0.2% in September
November Chicago PMI to be released at 9:45 AM EST on Wednesday is expected to fall to 58.0 from 65.9 in October
November Michigan Sentiment Index to be released at 9:55 AM EST on Wednesday is expected to increase to 73.0 from 72.0 in October
October Leading Economic Indicators to be released at 10:00 AM EST on Wednesday are expected to decline 0.1% from September versus a gain of 0.7% in September.
Earnings News This Week
Hewlett Packard and Tiffany on Tuesday
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