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Unwired Release Confirms Suit Against Microsoft Related to Breach of Contract for Sept. 11th Licensing Deal

Courtesy of Benzinga.

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Unwired Planet, Inc. (NASDAQ: UPIP), today announced that it has sued Microsoft
for breach of contract and declaratory judgment in the U.S. District Court of

This action relates to the licensing agreement the two companies entered into
in September 2011.

“Microsoft owes Unwired Planet licensing fees under a previous agreement,”
stated Phil Vachon, chairman of Unwired Planet. “According to published
reports, Microsoft collects two billion dollars of royalties each and every
year for its intellectual property, but they seem unable to locate the funds
to pay for ours. We expect to prevail in this matter.”

The complaint was filed under seal in order to protect the confidentiality of
certain terms of the parties’ agreement.

Posted-In: News Legal Press Releases

Report: Tesla Signs Panasonic Battery Joint Venture Pact

Courtesy of Benzinga.

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The Connected Car: Do Consumers Care? (Fox Business)

Tesla Motors (NASDAQ: TSLA) inked a joint venture agreement with Panasonic (OTC: PCRFY) for Tesla's so-called Gigafactory in the U.S., according to a Japanese new service.

Tesla traded recently at $228.72, up 2.3 percent.

Nikkei Asian Review reported Monday that Panasonic will initially invest $194 million to $291 million, with the amount to rise eventually to as much as $1 billion with the total cost of the factory to reach as much as $5 billion.

Related Link: Toyota's New Fuel Cell Car Does Not Impress Tesla's Elon Musk

An announcement of the deal will be made by the end of July, the news service said, although it cited no sources.

Tesla CEO Elon Musk has previously said Panasonic would be a logical partner for the project, but his Panasonic counterpart Kazuhiro Tsuga has reportedly been hesitant.

Panasonic acquired a two percent stake in Tesla in 2010 and has made batteries for the company since 2011. Panasonic agreed in October to provide two billion batteries to Tesla by 2017.

Tesla is expected to begin construction this year, with production expected by 2017. The long-term aim is to provide batteries for 500,000 cars annually by 2020.

Posted-In: Gigafactory PanasonicNews Rumors Hot

Hill International Falls On Share Dilution

Courtesy of Benzinga.

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Hill International (NYSE: HIL) was hit with heavy selling following the announcement of preliminary earnings and follow-on offering.

Hill International closed Monday’s session at $5.47, down 5.36 percent.

The company reported preliminary earnings per share of $0.04 for Q2 2014; analysts on a consensus basis anticipated earnings per share of $0.02.

Hill International announced a follow-on offering of 8,000,000 shares.

The equity offering weighed heavily on Monday’s trading action as Hill International has 40.5 million shares outstanding.

Total share outstanding will increase from 40.5 million to 48.5 million. Dilution will increase total share outstanding by 19.7 percent. The increase in dilution will reduce the earnings per share figure in future quarters.

The company also refinanced its debt with a $165 million credit facility from Societe Generale. The debt refinancing may lower interest expense in future quarters, but it may not necessarily offset the incremental impact of shareholder dilution.

Posted-In: Societe GeneraleEarnings News Guidance Offerings

Warren Resources Enters Marcellus with Citrus Asset Buy – Analyst Blog

Courtesy of Benzinga.

Independent energy company, Warren Resources, Inc. (NASDAQ: WRES) announced that it has acquired certain assets in Pennsylvania’s Marcellus Shale from Colorado-based oil and natural gas producer, Citrus Energy Corporation and two other parties that owned working interest in the region. The transaction, which marks Warren Resources’ entry into the prolific natural gas basin, was for a purchase price of $352.5 million.

Following this announcement, shares of Warren Resources gained around 2.6% to close at $6.30. Shares also touched an intraday high of $6.70 that marked a new 52-week high for the stock.

The company mentioned that it will issue $40 million in shares at $6.00 per share as part of the transaction cost. The remaining consideration will be funded through debt financing. In view of this deal, Warren Resources’ senior secured credit facility has been increased to $750 million from $300 million and its borrowing base expanded to $225 million from $175 million. The transaction has an effective date of Jul 1 and is anticipated to close in early August.

The company added that the acquisition adds lucrative assets to its existing portfolio. The sold properties yielded about 82 million net cubic feet of natural gas per day last month. As of Jul 1, the estimated proved reserves totaled about 208.3 billion cubic feet, of which 55% is anticipated to be proved developed reserve.

Warren Resources will be the operator of the assets. The acquired properties are expected to complement the company’s existing California oil and Wyoming natural gas assets. The said properties are expected to be highly accretive and are anticipated to increase the company’s net production by over 200% to 118 million cubic feet equivalent per day (Mmcfe/d) from the existing level of 36 Mmcfe/d. The deal would also increase the company’s proved reserves to around 410.8 billion cubic feet equivalent (Bcfe) from the current level of 202.5 Bcfe.
The company stated that the acquisition has brought to its portfolio some of the top performing wells in the Marcellus region that generate significant cash, which should be enough to finance future drilling prospects in the area.

Warren Resources currently has a Zacks Rank #3 (Hold). Meanwhile, one can consider some…
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Trulia Competitors Move Higher Due To Zillow Speculation

Courtesy of Benzinga.

Shares of Trulia (NYSE: TRLA) spiked higher following the Bloomberg release that Zillow (NASDAQ: Z) could be looking to buy the online real estate search company.

Trulia's competitors surged following the news. Due to Zillow being one of Trulia's competitors within its consumer segment, it appears the street is drawing its focus on Trulia's other competitors within the space.

Public Competitors:

Move (NASDAQ: MOVE), with as subsidiary, closed up 0.83 percent. It was up more than four percent earlier in the afternoon.

Yahoo (NASDAQ: YHOO) closed up 4.16 percent. Trulia has recognized Yahoo Real Estate as one of its principal competitors in its consumers category.

Posted-In: News Rumors M&A Movers

Darden CEO To Resign; Company Nominates 3 Starboard Directors

Courtesy of Benzinga.

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Darden CEO Steps Down (Fox Business)

Darden Restaurants (NYSE: DRI) gained five percent after-hours when the company said three of its 12 directors will represent dissident shareholder, Starboard Value L.P.

The press release from Darden also disclosed the company's Chairman and CEO, Clarence Otis, will be stepping down from each role, effective immediately as chairman and no later than December 31 as CEO.

Otis commented, "I am proud to have been a part of Darden's significant growth and expansion, which has enabled us to reach new consumer segments and markets and create significant long-term shareholder value. With the Red Lobster sale complete and progress on our Olive Garden brand renaissance and other strategic priorities underway, this is the right time for me to step down.

"I am confident [the company], under the leadership of our Board and management team, will continue to make progress on the actions we are taking to reinvigorate restaurant performance and further enhance shareholder value."

Darden's Board announced Charles Ledsigner, Jr. will fill the role as Non-Executive Chairman. Ledsinger is currently Darden's Independent Lead Director.

Darden still may face a proxy fight with Starboard, a 6.2 percent holder, which has nominated a full slate of directors to the board.

An annual meeting date hasn't been scheduled although it was held last year in September.

Despite settlement talks with Darden, it's "been unable to reach an agreement with Starboard," Darden said, adding that it "remains interested in a mutually acceptable resolution."

Starboard and allied shareholder Barrington Capital seek to sell or spin off Darden's real estate and number of Darden's restaurant chains, which include Longhorn Steakhouse and Olive Garden.

Darden agreed earlier this year to sell its Red Lobster chain for $2.1 billion, a price Starboard said is too low.

Ledsinger, Jr. said in a statement Monday that the company is 'committed to taking all appropriate steps to serve the interests of Darden and all Darden shareholders."

Goldman Sachs and Morgan Stanley are serving as Darden's financial advisors.

Darden changed hands recently in after-hours trading at 47.06 up 4.76 percent.

Posted-In: Clarence Otis Starboard ValueNews Asset Sales Legal Management After-Hours Center

Sirius XM Adds $2 Billion To Its Buyback Program

Courtesy of Benzinga.

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Sirius XM (NASDAQ: SIRI) announced Tuesday afternoon it will add $2 billion to its buyback plan.

Shares of Sirius XM jumped two percent in the after-hours session following the news.

Posted-In: News Buybacks Intraday Update

Relaxed Regulations Highlight Nuclear ETFs

Courtesy of Benzinga.

The Environmental Protection Agency is considering a review of its 1977 rule that limits the amount of whole-body radiation that any member of the public can be exposed to as a result of the uranium fuel cycle.

While they have not made any immediate determination to change the current level of 0.25 millisieverts per year of allowable radiation, they are reviewing the scientific data to decide if changes need to be made.

Items under review include water resource protection, spent fuel storage facilities and alternative technologies that weren’t previously developed when the initial regulation was put in place.

Related: 3 ETFs To Fight Inflation

As a result of the EPA soliciting public feedback on this matter, companies that develop uranium, along with utilities that operate nuclear facilities, have been thrust back into the spotlight.

The Global X Uranium ETF (NYSE: URA) is comprised of 23 global companies engaged in the exploration, mining, refinement and manufacturing of equipment to support the uranium industry. This ETF currently has $246 million in total assets and charges an expense ratio of 0.69 percent. 

URA has been on a rollercoaster ride this year, with a jump higher in the first quarter that subsequently faded. This ETF is currently sitting near the flat line for the year in total return.


Despite this recent underperformance, the underlying companies in URA provide the necessary fuel to the 435 nuclear reactors currently in production around the world. In addition, according to the Nuclear Energy Institute, there are 72 new nuclear power plants under construction in 15 countries.

The Market Vectors Uranium+Nuclear Energy ETF (NYSE: NLR) is another ETF with a broader focus on both uranium production and nuclear energy utilities. Top holdings in the market-cap weighted NLR include Duke Energy Corp (NYSE: DUK) and NextEra Energy Inc (NYSE: NEE).

The expanded scope of utility companies has helped NLR to significantly outperform URA on a year-to-date basis. NLR has gained 7.28 percent so far in 2014, and is well above its long-term moving averages.

Depending on the scope of any changes to current nuclear legislation, the underlying companies in these ETFs may find a myriad of new regulations with which to contend.

Posted-In: Alternative EnergyNews Sector ETFs Specialty ETFs Commodities Legal Markets ETFs Best of Benzinga

Deja Vu? TV Reporter Repeats His Tweet: USANA Falls 2%

Courtesy of Benzinga.

Related USNA
USANA Down 5% After Short Seller, Greenberg Separately Offer Negative News
Herbalife Expands Product Line – Analyst Blog

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USANA Health Sciences< (NYSE: USNA) fell more than two percent Monday day after CNBC reporter Herb Greenberg once again suggested in a tweet the company faces unwanted scrutiny in China.

Greenberg’s tweet was almost identical to one he posted two weeks ago, when said the company is the topic of an “investigation” by a Chinese business publication. USANA shares fell five percent.

On Monday, shares of the Utah-based multi-level marketer were down $1.91 to $70.24.

Greenberg’s latest tweet on the company Monday said it’s is now the the topic of a follow-up article. As previously, Greenberg provided a link to a Chinese-language Web site which he did not purport to translate.

The earlier tweet almost immediately followed a report posted by short-seller Andrew Left saying that “this week multiple media outlets in China have exposed the multi-level marketing schemes operated by USANA.”

Left’s CitronResearch site was silent on USANA Monday.

Both Left and Greenberg have previously offered negative reports on USANA. The multi-level marketing company that provides nutritional supplements has also been the target of short sellers in the past.

Short interest currently accounts for about 1.55 million of USANA’s 13.9 million shares outstanding. That’s down from 1.6 million shares June 30.

Multi-level marketing has recently proven controversial.

Last week, short-seller Bill Ackman promised to deliver a “death blow” to the similar Herbalife Ltd. (NYSE: HLF) in a conference speech.

In a widely published letter last month, Bill Keep, business dean of the College of New Jersey, asked the Securities and Exchange Commission to undertake an ongoing review of multilevel marketing. Keep’s letter refered broadly to the industry and specifically to Herbalife.

USANA traded down 2.4 percent Monday’s morning session to $70.24 a share; Herbalife, slated to report earnings later Monday, was down 0.5 percent to $66.41.

Posted-In: Herb GreenbergNews Rumors

Tyson Foods Sells Part Of Its Chicken Business; Dollar Tree Buys Family Dollar

Courtesy of Benzinga.

Related BZSUM
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Markets Tumble; Dollar Tree To Acquire Family Dollar For $8.5 Billion

Entering the final 60 minutes of trading on Monday, the Dow traded down 0.09 percent to 16,975.79 while the NASDAQ lost 0.04 percent to 4,447.64. The S&P rose slightly by 0.05 percent to 1,978.88.

Leading and Lagging Sectors

Utilities shares surged 0.90 percent in trading on Monday. Meanwhile, top gainers in the sector included Korea Electric Power (NYSE: KEP), up 6.83 percent, and Calpine (NYSE: CPN), up 2.95 percent.

In trading on Monday, non-cyclical consumer goods & services shares were relative laggards, down on the day by about 0.65 percent. Top decliners in the sector included Cal-Maine Foods (NASDAQ: CALM), down 4.65 percent, and Omega Protein (NYSE: OME), off 5.74 percent.

Top Headline

Dollar Tree (NASDAQ: DLTR) announced its plans to buy Family Dollar (NYSE: FDO) for around $8.5 billion in a cash-and-stock deal.

The transaction value of $74.50 per share represents around 23% premium to Family Dollar's closing price of $60.66 on Friday.

Equities Trading UP

Trulia (NYSE: TRLA) shares shot up 16.77 percent to $65.77 after Zillow (NASDAQ: Z) announced its plans to buy Trulia for $3.5 billion in stock.

Shares of Family Dollar Stores (NYSE: FDO) got a boost, shooting up 24.38 percent to $75.45 after Dollar Tree (NASDAQ: DLTR) announced its plans to buy Family Dollar for $8.5 billion.

Tyson Foods (NYSE: TSN) shares were also up, gaining 2.39 percent to $40.49 after the company reported upbeat third-quarter revenue and announced its plans to sell its Mexican and Brazilian chicken businesses for $575 million. The company reported weaker-than-expected quarterly net income and announced an offering of 24 million Class A…
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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is."

Thank you for you time!


Phil's Favorites

Excuse Me For Living

Excuse Me For Living Courtesy of James H. Kunstler

Israel has all the proof it needs that world opinion will never consider its right to exist important. The Obama White House, and a lot of the US News Media, portray the Hamas-Israel conflict as something like an amateur soccer match, with the uneven score (40-odd Israeli soldiers killed versus 1000-plus Palestinians, mostly civilians) showing that the contest is unfair, that Israel has “gone too far,” that they have entered the same moral zone as Hitler, Stalin, and Pol Pot, carrying out a “genocide.”

Of course, this is a real hot war, not a diversity training exercise, or a self-esteem course, or any sort of the kinderga...

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Insider Scoop

Report: IBM Rejects Offer For Chip Operations

Courtesy of Benzinga.

Related IBM Blackberry Attempts To Rebound From IBM/Apple Deal The 10 Most-Respected Corporate Brands Can the iRally Endure? (Fox Business)

International Business Machines (NYSE: IBM) rejected an offer for part of its semiconductor manufacturing operations, according to unnamed sources cited by ... more from Insider

Zero Hedge

Photos Emerge Of 10 "Active Militia Teams" Securing The US-Mexico Border

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

With 1000s of illegal immigrants crossing the US-Mexico border every day (perhaps even more now some of the border has been washed away), the government quietly dumping them in Tennessee (among other places), and current (recently constructed border protection infrastructure already breaking down), it appears the American people are taking matters into their own hands. Photos showing dozens of members of militia groups on the U.S.-Mexico border carrying semi-automatic rifles a...

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Chart School

What happened the last time someone teased a bear?

Courtesy of Read the Ticker.

Time for a funny, can't be serious all the time!

Is it really smart to poke a Russian bear ?? Seriously!!

NOTE: does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Investing Quote...

.."One of the most helpful things that anybody can learn is to give up trying to catch the last eighth – or the first. These two are the most expensive eighths in the world. They have cost stock traders, taken together, enough millions of dollars to build a concrete highway across the continent."..

Jesse Livermore
..“It’s not what you own that will send you bust but what you owe.”..



more from Chart School

Option Review

Kellogg Call Options Active Ahead Of Earnings

Shares in packaged foods producer Kellogg Co. (Ticker: K) are in positive territory on Monday afternoon, trading up by roughly 0.20% at $65.48 as of 2:20 p.m. ET. Options volume on the stock is well above average levels today, with around 12,500 contracts traded on the name versus an average daily reading of around 1,700 contracts. Most of the volume is concentrated in September expiry calls, perhaps ahead of the company’s second-quarter earnings report set for release ahead of the opening bell on Thursday. Time and sales data suggests traders are snapping up calls at the Sep 67.5, 70.0 and 72.5 strikes. Volume is heaviest in the Sep 72.5 strike calls, with around 4,600 contracts traded against sizable open interest of approximately 11,800 contracts. It looks like traders paid an average premium of $0.37 per contrac...

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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.

To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Sector Detector: Bold bulls dare meek bears to take another crack

Courtesy of Sabrient Systems and Gradient Analytics

Once again, stocks have shown some inkling of weakness. But every other time for almost three years running, the bears have failed to pile on and get a real correction in gear. Will this time be different? Bulls are almost daring them to try it, putting forth their best Dirty Harry impression: “Go ahead, make my day.” Despite weak or neutral charts and moderately bullish (at best) sector rankings, the trend is definitely on the side of the bulls, not to mention the bears’ neurotic skittishness about emerging into the sunlight.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas, incl...

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Swing trading portfolio - week of July 28th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.


This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...

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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW in the comments below each post. 

Our weekly newsletter Stock World Weekly is ready for your enjoyment.

Read about the week ahead, trade ideas from Phil, and more. Please click here and sign in with your PSW user name and password. Or take a free trial.

We appreciate your feedback--please let us know what you think in the comment section below.  


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Digital Currencies

BitLicense Part 1 - Can Poorly Thought Out Regulation Drive the US Economy Back into the Dark Ages?

Courtesy of Reggie Middleton.

An Op-Ed piece penned by Veritaseum Chief Contracts Officer, Matt Bogosian

This past weekend (despite American Airlines' best efforts), Reggie and I made it to the Second Annual North American Bitcoin Conference in Chicago. While there were some very creative (and very ambitious) ideas on how to try to realize the disruptive Bitcoin protocol, one of the predominant topics of discussion was New York Superintendent of Financial Services Benjamin Lawsky's proposed Bitcoin regulations (the BitLicense proposal) - percieved by many participants at the event as an apparent ...

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Market Shadows

Danger: Falling Prices

Danger: Falling Prices

By Dr. Paul Price of Market Shadows


We tried holding up stock prices but couldn’t get the job done. Market Shadows’ Virtual Value Portfolio dipped by 2% during the week but still holds on to a market-beating 8.45% gain YTD. There was no escaping the downdraft after a major Portuguese bank failed. Of all the triggers for a large selloff, I’d guess the Portuguese bank failure was pretty far down most people's list of "things to worry about." 

All three major indices gave up some ground with the Nasdaq composite taking the hardest hi...

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Biotechs & Bubbles

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...

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See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing b...

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FeedTheBull - Top Stock market and Finance Sites

About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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