US factory orders slide 0.5 percent in May

WASHINGTON — Orders to U.S. factories fell in May, ending three months of gains.

The Commerce Department reported that orders fell 0.5 percent, pulled down by falling demand for military and transportation equipment. That followed increases of 0.8 percent in April, 1.5 percent in March and 1.7 percent in February.

Excluding military hardware, factory orders rose 0.2 percent in May from April. Orders for transportation equipment fell 2.9 percent. Orders for computers and electronic equipment fell 2 percent, biggest monthly drop since December.

Orders for durable goods, meant to last three years or more, fell 0.9 percent in May. Orders for nondurable goods slipped 0.2 percent.

Factory orders were up 2.5 percent from May 2013.

U.S. factories have been busy. The Institute for Supply Management reported Tuesday that manufacturing expanded in June for the 13th straight month, though the pace of growth slowed from May.

A measure of employment showed that factories added jobs for the 12th straight month; the pace of hiring last month was the same as in May.

Manufacturers added 10,000 jobs in May as overall U.S. employers created more than 200,000 jobs for the fourth straight month, longest such stretch since 1999. The government's employment report for June comes out Thursday.

The U.S. economy shrank at a 2.9 percent annual rate from January through March. But economists blame the first-quarter drop on an unusually bitter winter and a sharp reduction in businesses' inventories. They expect economic growth to rebound to an annual pace of 3 percent or more the rest of the year, boosted by rising consumer demand and a rebound in U.S. export sales.

Economists have been worried about the fallout from slower economic growth in China. But a survey out Tuesday showed that Chinese manufacturing grew in June for the first time in six months, though the expansion was weak. HSBC Corp. said Tuesday its purchasing managers index for China rose to 50.7 from May's 49.4 on a 100-point scale. Numbers above 50 signal growth.

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Troy Wolverton: TV device advice for a streaming summer

It's summer time, the season of reruns, and thoughts turn to watching movies and catching up on missed TV shows.

The best way to watch video streamed over the Internet remains streaming media players. Although there are lots of different choices for such gadgets, the best ones are devices from four major players: Apple, Google, Amazon and Roku. The best choice for you will depend on what devices you already own, what you want to do and how much you want to spend. Here's a look at your options:

APPLE TV: Apple TV is one of the easiest devices to use and, in some ways, the most capable. It is also the best device to choose if you already own an iPhone or iPad or have a significant number of movies or songs on iTunes on your computer.

Apple recently added a slew of new channels that has boosted Apple TV's total to more than 40. That's a small fraction of the applications or channels you'll find on Roku's boxes. But Apple is able to supplement that total with AirPlay, a feature that allows users to beam videos, music, Web content, games and more from iPhones, iPads and computers to Apple TV. Thanks to AirPlay, you can watch movies from Amazon or listen to music from Spotify even though neither has an Apple TV app.

But at $100, Apple TV is one of the pricier options. It's also the least customizable, providing users neither an app store nor the ability to delete or sort apps. And it lacks a universal search feature that would allow users to comb across apps for particular movies.

ROKU STREAMING STICK: Unlike the other major players, Roku offers a full line of devices, ranging from its $50 entry-level Roku LT to its $100 top-of-the-line Roku 3. My favorite is not a box at all, but Roku's Streaming Stick, which is a bargain at $50.

The Streaming Stick is about the same size of a USB flash drive. It plugs directly into an HDMI port on the back of your TV and gets power either from a USB port on your TV or a power outlet. As such, it's hidden away, making it perfect for newer wall-mounted TVs.

Roku's biggest advantage has been its vast selection of channels; at last count, the company offered well over 1,500. Roku even added YouTube earlier this year, which was long been one of its few glaring holes.

Unlike Apple TV, the Streaming Stick has a "universal" search feature. It doesn't comb all of Roku's channels, but it does allow users to search for movies across Amazon, Netflix and Vudu.

But if you have purchased movies from iTunes, the Streaming Stick isn't the device for you, because you can't stream them to the device, either from your computer or from Apple. While you can stream other content to the Streaming Stick from your computer, it can be difficult to set up.

And if you want to play games on your streaming media player, you'll need to find another device. The game selection for the Streaming Stick is slim and its remote control isn't designed to be used as a game controller.

AMAZON FIRE TV: The newcomer on the streaming media scene, Fire TV is a great device if you are a big customer of Amazon's media services or own one of its new Kindle Fire HDX tablets. The box is tied closely to Amazon's video offerings, including its Prime subscription service. Via a new update, the box will also get access to Amazon's digital music service. And the Fire TV has a feature much like AirPlay that allows users to beam video from their Kindle tablets to their televisions.

The Fire TV is also a good choice if you want to play games. Amazon offers a game controller and features some 272 games in its app store, including popular ones such as "Grand Theft Auto: San Andreas."

One of the unique features of Fire TV is its voice search. Press and hold a button on its remote control, and you can dictate the name of an actor or movie, rather than having to type it using an on-screen keyboard. Right now, Amazon's search only looks at the company's own offerings and music videos from Vevo, but an update expected later this summer will give it the ability to comb through movies and videos from HBO, Hulu Plus, Crackle, Netflix and Showtime Anytime at the same time.

But at $100, Fire TV is one of the pricier options, made even more so if you also buy the $40 game controller. And outside of games, the Fire TV's channel choices are almost as slim as those for Apple TV. Unlike on Roku, you won't find apps to access Spotify, Facebook or Vudu.

GOOGLE CHROMECAST: Chromecast is the least-expensive option and is about as small as the Streaming Stick. Unlike the other gadgets, it lacks both a user interface and a remote control. Instead, you use it by beaming video and music or Web content from smartphone or tablet apps or a Chrome browser on a PC.

This approach makes the Chromecast a fairly easy device to set up and use. But it also limits the amount of content Chromecast users can access. Although the number of apps that can stream content to the device has increased greatly in the past year, it still lacks access to many popular apps and services, including Spotify and Amazon.

Users might soon be able to get around that with a new feature that will allow them to mirror whatever is on their smartphone screen on their TVs, but that feature will only work with a handful of Android phones.

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©2014 San Jose Mercury News. Distributed by MCT Information Services

Visit San Jose Mercury News at www.mercurynews.com

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US stocks edge higher in early trading

NEW YORK — Stocks edged higher Wednesday following a report that business hiring surged in June, a promising sign for economic growth. The report comes a day after news of stronger manufacturing in the U.S. and China helped push the stock market to another all-time high.

KEEPING SCORE: The Standard and Poor's 500 index rose one point, or 0.1 percent, to 1,974 as of 11:16 a.m. in New York. The Dow Jones industrial average climbed three points, or less than 0.1 percent, to 16,959. Both the S&P 500 and the Dow are trading at record highs. The Nasdaq composite fell one point, or 0.1 percent, to 4,457.

JOBS: ADP, a payroll processer, said businesses added 281,000 jobs last month, up from 179,000 in the previous month. The figure suggests the government's jobs report, due out Thursday, could also show a significant gain from May's tally of 217,000 jobs. The ADP survey only looks at the private sector, however, and often diverges from the government's more comprehensive report.

THE QUOTE: "The economy is on an upward trend and that bodes well for the stock market," said Ed Hyland, a global investment specialist at a JPMorgan Private Bank. "Corporate earnings will continue to grow as the economy grows."

BOTTOMS UP: Constellation Brands, the owner of the Corona and Negra Modelo beer brands, jumped $2.98, or 3.4 percent, to $91.39 after the company said its fiscal first-quarter net income soared. The earnings exceed the expectations of Wall Street analysts.

A DEAL: Kroger, a supermarket chain, announced plans to buy the online vitamin seller Vitacost.com in a $280 million deal. Cincinnati-based Kroger said it will pay $8 per share in cash for Vitacost.com, a 27 percent premium over its closing price of $6.28 on Tuesday. Vitacost.com jumped $1.71, or 27 percent, to $7.99.

BUYBACK PUSH: Monsanto rose $2.75, or 2.2 percent, to $127 after the company said late Tuesday that it had entered into an "accelerated share repurchase" agreement with JPMorgan and Goldman Sachs. Under the terms of the agreement the company will buy back $6 billion of its own stock.

BONDS AND COMMODITIES: Government bond prices fell. The yield on the 10-year Treasury note, which moves opposite to its price, rose to 2.61 percent from 2.57 on Tuesday. The price of oil dropped 64 cents, or 0.6 percent, to $104.69.

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Hiring gain sends stocks higher in early trading

NEW YORK — The U.S. stock market is edging up in early trading after a report that business hiring surged in June.

The report comes a day after good news on manufacturing drove the market to another all-time high and brought the Dow Jones industrial average within two points of 17,000 for the first time.

The Dow rose 12 points, or 0.1 percent, to 16,969 shortly after the stock market opened Wednesday.

The Standard & Poor's 500 was flat at 1,973, while Nasdaq composite rose three points, or 0.1 percent, to 4,461.

Payroll processer ADP said early Wednesday that businesses added 281,000 jobs last month, up from 179,000 in the previous month.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.60 percent from 2.57 percent late Tuesday.

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Target asks customers to leave firearms at home

NEW YORK — Target is asking its customers to not bring firearms into its stores, even where it is allowed by law.

In a statement posted Wednesday on the retailer's corporate blog, interim CEO John Mulligan said that Target wants a "safe and inviting" atmosphere for its shoppers and employees.

"Bringing firearms to Target creates an environment that is at odds with the family-friendly shopping and work experience we strive to create," he said.

In many states, carrying unconcealed guns in public is legal.

Target Corp. made the announcement as it faced pressure about its policy on the "open carry" of firearms in its stores. A group called Moms Demand Action for Gun Sense in America gathered nearly 400,000 signatures for a petition asking Target to prohibit shoppers from carrying guns into its stores.

The group has said it is responsible for getting several chains, including Chipotle, Starbucks and Jack in the Box, to change their gun policies. It introduced the campaign after gun rights groups carrying loaded rifles frequently gathered in Target stores including Texas, Alabama and North Carolina to demonstrate in support of "open carry" laws.

Many states allow people to carry unconcealed guns, but some businesses exercise their right to ban firearms.

"Such positive safety changes made by some of our country's leading retailers are proof of the influence of women and mothers," said Shannon Watts, founder of Moms Demand Action for Gun Sense in America. "As we look toward election season, we hope our legislators are taking notice that when women and mothers collectively raise our voices — and soon cast our votes, we are determined to leave an impact."

The Minneapolis company's stock added 44 cents to $58. 81 in Wednesday late morning trading.

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Work resumes at Indiana GM plant after explosion

MARION, Ind. — Employees have returned to work at a General Motors metal-stamping plant in Indiana following a chemical explosion that killed a contractor and injured several others.

GM spokeswoman Stephanie Jentgen says the Marion plant's first-shift employees reported for work Wednesday morning at the plant about 60 miles northeast of Indianapolis.

The plant was evacuated following Tuesday's explosion involving a tank of chlorine dioxide that killed 48-year-old contractor James L. Gibson.

Jentgen says four workers injured in the blast were held for observation at a local hospital but have been released. She says an investigation into what caused the explosion is underway.

GM's website says the Marion plant employs about 1,600 workers and provides blanks, stampings and sheet metal assembly for vehicles to GM assembly plants across North America.

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Rain on a plane: leak forces flight's turnaround

LOS ANGELES — Water flowed down the aisles and rained down on passengers of a double-decker Qantas Airways flight bound for Australia after a leak that forced the plane to return to Los Angeles late Tuesday, airline officials and passengers on the flight said.

The flight to Melbourne landed safely again at Los Angeles International Airport about an hour after takeoff, the company said in a statement.

Qantas said there were no safety concerns with the leak and that the captain decided to turn the Airbus A380 around in the interest of passenger comfort.

Water ran down stairs in the cabin and dripped onto passengers seated in the lower deck. Some people were moved to dryer areas of the plane.

"You couldn't keep going like that for 15 hours," passenger Ken Cross told KABC-TV.

Passengers were put up at a hotel as other flight arrangements were made.

The 11:40 p.m. flight was carrying about 400 passengers, LAX spokeswoman Amanda Parsons told The Associated Press.

Qantas says the plane's crew did all it could to help customers and that the issue with the plane was being addressed by its engineers.

The company said it was working to determine the cause of the leak.

The A380 is a massive four-engine jet with two decks of passenger seating. The planes first flew to the United States in 2007.

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Destination Maternity: Mothercare nixes proposals

PHILADELPHIA — Destination Maternity says the U.K.'s Mothercare has rejected two proposals to combine the businesses.

Destination Maternity is known for its maternity clothing under brands such as A Pea in the Pod, Motherhood Maternity and its namesake. Mothercare offers baby and young children's clothing and other products such as strollers, car seats and toys.

Destination Maternity's most recent cash-and-stock proposal for about 266 million pounds (about $456.6 million) was submitted on June 1. Destination Maternity said that Mothercare has refused to discuss the proposals and that it continues to evaluate its options on a potential combination.

Mothercare said in a statement that it reviewed Destination Maternity's revised proposal and believes that it undervalues the company. Mothercare said the revised bid also didn't address its material concerns about "significant execution risk" and delivering value to its shareholders.

Mothercare said that its other concerns include the "lack of strategic rationale for a combination" and uncertainty on the proposed financing arrangements. The company said its board is still confident "in the ongoing execution of Mothercare's strategy as an independent company and that its successful delivery will create significant value for shareholders."

Philadelphia-based Destination Maternity may be eyeing the combination with Mothercare PLC as a tax move. Incorporating overseas through acquisition has been done by drugmakers and other businesses recently so that they can save on taxes. Drug companies Actavis plc and Perrigo Inc. have acquired Irish companies and then "redomiciled" in Ireland.

Destination Maternity Corp. said that its latest proposal for Mothercare would be for the two businesses to combine under a new U.K. holding company that would be listed in the U.S.

Under the U.K.'s Takeover Code, Destination Maternity must announce its decision on whether it plans to make a binding offer for Mothercare by July 30.

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New Ford CEO gets $5.25M pay package, plus options

DETROIT — New Ford CEO Mark Fields will get a pay package worth more than $5.25 million this year as he takes over for the retiring Alan Mulally.

He'll also get stock and options that could drive that figure much higher. And the company will restore his use of a private jet to travel back and forth from his home near Miami.

Ford revealed a portion of Fields' compensation Wednesday in a filing with the U.S. Securities and Exchange Commission. The Dearborn, Michigan, company says it will disclose the total value of Fields' package in its annual proxy statement next year.

Fields made $10.2 million last year as chief operating officer, including stock options and performance-based stock awards, the company said.

For 2014, he'll get a $1.75 million base salary, plus $3.5 million in incentive compensation. The company also is offering him options to buy more than 710,000 shares of stock at Tuesday's closing price of $17.21 per share, an incentive to move the stock price higher.

Ford also said in the filing that Fields will use private aircraft when traveling "for safety and to maximize his availability for company business."

Fields use of corporate jets to travel home on weekends was halted in 2006, when the company was struggling financially. Fields, at the time head of the Americas unit, agreed to give up that perk in 2007 after an outcry from dealers and others.

Fields took over for Mulally on Tuesday. Fields' pay package has a long way to go to match the former Boeing executive, who received compensation valued at $23.2 million last year.

As of March, Mulally had made $197.65 million since joining Ford in 2006, according to calculations by The Associated Press. He led a major restructuring at the automaker, cutting costs by closing factories and globalizing its product offerings worldwide. Ford has earned $42.4 billion since returning to profitability in 2009.

The company also said in the filing Wednesday that Mulally will keep performance-based stock awards he received in March, and the company will pay for housing and travel through Aug. 31.

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UK investigating Facebook over psych experiment

LONDON — British data protection authorities are investigating revelations that Facebook conducted a psychological experiment on its users.

The Information Commissioner's Office said in a statement Wednesday that it wants to learn more about the circumstances of the experiment carried out by two U.S. universities and the social network.

The commissioner's office is working with authorities in Ireland, where Facebook has headquarters for its European operations. French authorities are also reviewing the matter.

The researchers manipulated the news feeds of about 700,000 randomly selected users to study the impact of "emotional contagion," or how emotional states are transferred to others. The researchers said the evidence showed that emotional contagion occurs without direct interaction between people and "in the complete absence of nonverbal cues."

Facebook acknowledged that the research was done for a single week in 2012.

"It's clear that people were upset by this study and we take responsibility for it," the company said in a statement. ". We want to do better in the future and are improving our process based on this feedback. The study was done with appropriate protections for people's information."

The concern comes amid interest in Europe about beefing up data protection rules. The European Court of Justice last month ruled that Google must respond to users' requests seeking to remove links to personal information.

Suzy Moat, a Warwick Business School assistant professor of behavioral science, said businesses regularly do studies on how to influence behavior. She cited the example of Facebook and Amazon experimenting with showing different groups of people slightly different versions of their websites to see if one is better than another at getting customers to buy products.

"On the other hand, it's extremely understandable that many people are upset that their behavior may have been manipulated for purely scientific purposes without their consent," Moat said. "In particular, Facebook's user base is so wide that everyone wonders if they were in the experiment."

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