Daily Citizen from Beaver Dam, Wisconsin • A8

A8 Wednesday, March 30, 2016 Beaver Dam Daily Citizen BUSINESS A8 Wednesday, March 30, 2016 Beaver Dam Daily Citizen Fantasy sports companies lobby ALBANY, N.Y. (AP) Small businesses providing fantasy sports are lobbying to prevent legislation from passing in New York that would make licensing too expensive for everyone but giants DraftKings and FanDuel. The group Small Business of Fantasy Sports says the $500,000 licensing fee in pending legisla- tion would keep out the and pop type that make up most of the industry. Its 35 members provide both daily and season-long games where players select teams of professional athletes and then win or lose depending on how they perform altogether. They also object to a proposed 15 percent tax on revenue, sug- gesting 5 percent instead.

DraftKings and FanDuel agreed with the state attorney general last week to stop taking bets in New York while lawmak- ers consider legalizing the games. Assembly speaker is disbarred NEW YORK (AP) A former New York state Assembly speaker who was convicted of fraud and extortion has lost his license to practice law. Sheldon Silver was disbarred Tuesday by the Appellate Divi- sion of the state Supreme Court in Manhattan. The 72-year-old Democrat was convicted in November in a $5 million corruption case. Pros- ecutors say he traded favors to enrich himself.

scheduled to be sentenced in April. attorneys argued the disbarment should be delayed until a federal judge decides on his motion for a new trial. But the appeals court denied the request. It says name should be from the roll of in New York. Silver served as leader of the state Assembly from 1994 through early 2015.

Madoff lawyers put on spot NEW YORK (AP) Judges hearing an appeal by ex-employ- ees of imprisoned Wall Street swindler Bernard Madoff have taken prosecutors to task for arguments a defense lawyer says used emotion and prejudices to win over jurors. Defense attorney Andrew Frisch complained Tuesday the rebuttal argument was so over the top the court should throw out the convictions of his client and four others in the $20 billion fraud. Frisch complained the pros- ecution cited the 1960s civil rights movement in urging a jury including six blacks and one Latino to have the courage to convict. Markets listed The following grain market quotes are based on the Chicago Board of Trade futures as of yes- market close and do not reflect prices at any other time during the trading session. Cur- rent market prices are available by calling 887-7671.

Corn $3.37, new crop Wheat $4.17, new crop Beans $8.61, new crop Oats $1.35, new crop $1.10. IN BRIEF THe MarkeT IN revIeW Stock footnotes: Dividends and earnings in Canadian dollars. Does not meet continued-listing standards. lf Late filing with SEC. New in past 52 weeks.

pf Preferred. rs Stock has undergone a reverse stock split of at least 50 percent within the past year. rt Right to buy security at a specified price. Stock has split by at least 20 percent within the last year. un Units.

vj In bankruptcy or receivership. wd When distributed. wi When issued. wt Warrants. fund footnotes: Multiple fees are charged, usually a marketing fee and either a sales or redemption fee.

Source: The Associated Press. Sales figures are unofficial. MuTuaL fuNDS Vanguard 500Adml LB 147,060 189.53 NL 10,000 Vanguard TotStIAdm LB 121,424 50.88 NL 10,000 Vanguard InstIdxI LB 100,777 187.66 NL 5,000,000 Vanguard TotStIdx LB 92,482 50.86 NL 3,000 Vanguard InstPlus LB 85,519 187.67 Vanguard TotIntl FB 73,735 14.37 NL 3,000 Fidelity Contra LG 72,174 96.45 NL 2,500 American Funds IncAmerA MA 68,528 20.61 5.75 250 American Funds GrthAmA LG 67,336 40.09 5.75 250 American Funds CapIncBuA IH 66,617 57.35 5.75 250 Vanguard WelltnAdm MA 65,408 64.24 NL 50,000 Vanguard TotBdAdml CI 63,295 10.89 NL 10,000 PIMCO TotRetIs CI 58,241 10.17 NL 1,000,000 Vanguard TotStIIns LB 58,081 50.89 NL 5,000,000 Vanguard IntlStkIdxIPls FB 52,424 96.13 American Funds InvCoAmA LB 52,329 34.17 5.75 250 Dodge Cox Stock LV 50,617 156.55 NL 2,500 Dodge Cox IntlStk FB 49,697 34.91 NL 2,500 Fidelity Spartan 500IdxAdvtg LB 49,176 72.59 NL 10,000 American Funds CpWldGrIA WS 48,633 43.10 5.75 250 American Funds AmBalA MA 48,465 24.10 5.75 250 American Funds WAMutInvA LV 47,530 38.88 5.75 250 Metropolitan West TotRetBdI CI 45,117 10.81 NL 3,000,000 Vanguard MuIntAdml MI 43,452 14.35 0.0 NL 50,000 Dodge Cox Income CI 43,340 13.43 NL 2,500 American Funds FnInvA LB 41,969 50.69 5.75 250 FrankTemp-Franklin IncomeA CA 41,562 2.10 4.25 1,000 Total assets Total Pct Min Init Name obj Nav 4-wk 12-mo 5-year Load Invt CA -Conservative Allocation, CI -Intermediate-Term Bond, FB -Foreign Large Blend, IB -World Bond, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation, WS -World Stock, Total Return: Chng in NAV with dividends rein- vested. Rank: How fund performed vs. others with same objective: A is in top in bottom Min Init Invt: Minimum needed to invest in fund.

Source: Morningstar. DaILY DoW JoNeS MoNeY raTeS CurreNCIeS Prime Rate Discount Rate Federal Funds Rate Treasuries 3-month 6-month 5-year 10-year 30-year 3.50 3.50 1.00 1.00 0.22 0.29 0.43 0.45 1.29 1.41 1.80 1.94 2.60 2.72 Last Pvs Week Australia 1.3093 1.3258 Britain 1.4374 1.4254 Canada 1.3063 1.3183 Euro .8853 .8929 Japan 112.75 113.28 Mexico 17.3114 17.4230 Switzerlnd .9663 .9738 Last Pvs Day British pound expressed in U.S. dollars. All others show dollar in foreign currency. SToCkS of LoCaL INTereST YTD Name ex Div Yld Pe Last Chg YTD Name ex Div Yld Pe Last Chg Inc NY 1.92 4.9 17 39.45 AlliantEgy NY 2.35 3.2 21 74.15 Altria NY 2.26 3.6 23 62.03 Apple Inc NA 2.08 1.9 11 107.68 AsscdBanc NY .44 2.5 15 17.95 BkofAm NY .20 1.5 10 13.42 iPVixST NY 17.95 BassettF NA .36 1.1 22 32.56 CalifRescs NY 1.05 Caseys NA .88 .8 20 110.32 Caterpillar NY 3.08 4.1 15 76.01 Chevron NY 4.28 4.5 39 95.32 CocaCola NY 1.40 3.0 26 46.48 CSVixSh rs NA 4.60 Deere NY 2.40 3.0 15 80.50 DirDGldBr NY 3.01 Disney NY 1.42 1.4 18 98.16 DuPont NY 1.52 2.4 22 63.64 ENSCO NY .60 5.8 10.30 ExxonMbl NY 2.92 3.5 22 84.53 Facebook NA 76 116.14 FedExCp NY 1.00 .6 44 162.99 FordM NY .60 4.5 8 13.20 FrptMcM NY 10.14 GenElec NY .92 2.9 31.48 HP Inc NY .50 4.0 11 12.28 HarleyD NY 1.24 2.5 14 49.22 Hologic NA 42 34.50 iShEMkts NY .84 2.5 33.93 iShR2K NY 1.73 1.6 110.31 JPMorgCh NY 1.76 3.0 10 59.03 JohnJn NY 3.00 2.7 18 109.14 KimbClk NY 3.68 2.7 38 134.99 Kohls NY 2.00 4.3 12 46.55 Lee Ent NY 4 1.80 MGE Engy NA 1.18 2.2 26 52.53 MarathnO NY .20 1.9 10.40 Marcus NY .45 2.3 22 19.39 MktVGold NY .12 .6 20.54 McDnlds NY 3.56 2.9 25 123.97 Merck NY 1.84 3.5 25 53.32 MicronT NA 6 10.45 Microsoft NA 1.44 2.6 35 54.71 Modine NY 11.23 Penney NY 11.43 PepsiCo NY 2.81 2.8 28 101.37 Pfizer NY 1.20 4.0 18 30.05 PhilipMor NY 4.08 4.1 20 98.86 PUVixST rs NY 20.11 ProctGam NY 2.65 3.2 27 82.80 RoyDShllA NY 3.76 7.8 73 48.06 NY 4.13 2.0 205.12 SearsHldgs NA 14.97 SPDR Fncl NY .46 2.1 22.42 SunEdison NY .57 Sysco NY 1.24 2.7 26 46.46 US Bancrp NY 1.02 2.5 13 40.39 US OilFd NY 9.80 WEC Engy NY 1.98 3.3 25 59.59 WalMart NY 2.00 2.9 15 68.03 WalgBoots NA 1.44 1.7 26 83.02 WsteMInc NY 1.64 2.7 32 59.71 WellsFargo NY 1.50 3.1 12 48.05 YumBrnds NY 1.84 2.3 25 80.57 15,500 16,000 16,500 17,000 17,500 18,000 MO 17,120 17,400 Jones industrials Close: 17,633.11 Change: 97.72 (0.6%) 10 DAYS Name vol (00) Last Chg BkofAm 1002189 13.42 FrptMcM 438309 10.14 GenElec 377382 31.48 Pfizer 343240 30.05 CalifRescs 342874 1.05 Hologic 310361 34.50 Apple Inc 305454 107.68 MicronT 304361 10.45 Facebook 294879 116.14 ENSCO 291919 10.30 MoST aCTIve ($1 or More)gaINerS ($2 or More) LoSerS ($2 or More) Name Last Chg SwEBioFu23 9.99 HernTher 19.68 CastleAM 2.75 DipexiumP 8.52 StrgbrBio 4.58 HimaxTch 12.00 OhrPharm 3.32 HrvrdBio 3.10 Versartis 7.55 WinsFin 11.47 Name Last Chg Conns 11.81 PumaBiotc 27.92 DxGMBr rs 5.31 TerraFm 2.03 DirDGldBr 3.01 PacrGlHi 26.81 FulingGbl 2.27 DestMatrn 7.49 LeadgBr 2.05 TxCapB wt 22.57 SToCk exCHaNge HIgHLIgHTS: NYSe aND NaSDaq DaILY 500 1,760 1,840 1,920 2,000 2,080 2,160 MO 2,000 2,040 500 Close: 2,055.01 Change: 17.96 (0.9%) 10 DAYS SToCk MarkeT INDexeS 18,351.36 15,370.33 Dow Industrials 17,633.11 8,953.18 6,403.31 Dow Transportation 7,951.61 664.58 539.96 Dow Utilities 666.97 11,254.87 8,937.99 NYSE Composite 10,190.40 5,231.94 4,209.76 Nasdaq Composite 4,846.62 947.85 809.57 100 911.22 2,134.72 1,810.10 500 2,055.01 1,551.28 1,215.14 MidCap 1,443.44 22,537.15 18,462.43 Wilshire 5000 21,152.07 1,296.00 943.09 Russell 2000 1,109.08 52-Week YTD 12-mo High Low Name Last Chg WASHINGTON (AP) Federal health experts have endorsed an experimental drug intended to treat psychotic delusions and behaviors that often afflict patients with Par- disease, the debilitat- ing movement disorder.

The panel of Food and Drug Administration advisers voted 12-2 Tuesday that the ben- efits of the drug from Acadia Pharmaceuticals outweigh the risks. That vote considered a recommendation for approval is non-binding, though the FDA often follows the advice of its panelists. San Diego-based Acadia Pharmaceuticals Inc. has asked the FDA to approve pimavan- serin to treat hallucinations, delusions and irrational behav- ior associated with disease, a neurodegenerative disease that primarily causes tremors and other move- ment problems. Approximately half of all patients suffer from the psychotic problems, according to the FDA.

There are no FDA-approved drugs currently available for the condition. is the second-most common neuro- degenerative disease in the U.S., after While drug had only modest benefits in most patients and was linked to seri- ous safety issues, most panel- ists ultimately said it would fill an important need. all want the effect size to be larger but certainly convincing in the sense that it is here and said Dr. Tobias Gerhard of the Rutgers University, who voted in favor of the drug. During a public hearing session at meeting, patients and doctors detailed harrowing stories of patients lashing out at family members due to paranoia and delusions.

Medical experts still disagree on whether such prob- lems are caused by the underly- ing disease itself or the drugs used to manage it. FDA scientists presented a complex, mixed review of performance and whether its benefits out- weighed significant, hard-to- define risks. On a questionnaire measur- ing hallucinations and other symptoms, patients taking the drug showed a 23 percent improvement over patients tak- ing a fake pill. According to FDA reviewers, that change repre- sented a improve- based on commonly- used clinical measures. At the same time, negative health events, including death, were more than twice as likely in the drug group, affecting nearly 8 percent of patients.

There was no clear explana- tion for the increased health problems seen with the drug compared to patients taking the sham treatment. Ultimately, the FDA con- cluded that for every two patients who experienced a major reduction in their psychotic symptoms, one patient would suffer a serious adverse event. Still, with virtually no alter- natives, most panelists backed the drug. if the effects are mod- est you have to compare it with available right now, which based on what been presented with, is noth- said Dr. David Brent of the University of Pittsburgh School of Medicine, who chaired the panel.

Pimavanserin is part of the antipsychotic family of medica- tions, including Abilify, Zyprexa and Seroquel, which are used to treat schizophrenia and bipolar disorder. Acadia believes that its unique interaction with dopamine receptors makes it an effective treatment for psycho- sis in patients. Shares of Acadia Phar- maceuticals Inc. were halted ahead of the meeting. On Monday, shares rose more than 17 percent to close at $23.81 in anticipation of the FDA panel meeting.

panel backs drug for WASHINGTON (AP) In the clearest sign yet of the impact of Justice Antonin death, U.S. labor unions scored a major victory Tuesday with a tie vote in a high-profile Supreme Court case they had once seemed all but certain to lose. The 4-4 split, in a case that sharply divided the lib- eral union supporters and their conservative opponents, dem- onstrated how much is riding on President Barack effort to replace Scalia with a judge who could tilt the balance on the high court for years to come. Senate Republicans say they consider any nomi- nation until a new president takes office. The vacancy helped the liberals this time.

The dead- locked vote came in a case that considered whether unions representing govern- ment employees can collect fees from workers who choose not to join. California teach- ers backed by a conservative group said being forced to pay union fees violated the free- speech rights of nonmembers who disagree with the policy positions. The split vote left in place an appeals court ruling that upheld the collection of fees from nonmembers. The result was an unlikely reprieve for organized labor. It had seemed virtually certain that the high court would rule 5-4 to overturn a system been in place nearly 40 years.

But the court now is operating with only eight justices after the Feb. 13 death of Scalia, who had been expected to rule against the unions. The one-sentence opinion issued Tuesday did not iden- tify how each justice voted. It simply upheld a decision from the 9th U.S. Circuit Court of Appeals.

But it was a blow to conser- vative groups that have spent years pushing the court to overrule a 1977 precedent that allows unions to collect fees from members and non-mem- bers alike to cover the costs of collective bargaining. Union officials feared a ruling barring the fees would threaten membership and further weaken the clout of unions, which are major supporters of Democratic candidates and causes. Labor leaders called the lawsuit part of a coordinated effort by conservative groups to weaken labor rights. The tie vote came amid a political standoff over nomination of appeals court judge Merrick Garland to fill vacant seat. Garland met Tuesday with Republican Illinois Sen.

Mark Kirk, his first meeting with a GOP senator. White House spokesman Josh Earnest said the 4-4 tie rather than a majority rul- ing not what our found- ers But conservative groups said the split underscored the risk of replacing Scalia with some- one more liberal. Confirming Garland would make the court rubber stamp not just for the wishes of powerful labor unions, but also for virtually the entire progressive said Curt Levey, executive director of the FreedomWorks Foundation. The union case is just one among a handful of key disputes this term in which vote had been expected to tip the balance toward a con- servative result. During argu- ments in the case in January, Scalia and the four other conservatives had made it clear they were prepared to deal a blow to the unions.

Since Supreme Court deci- sions are not final until handed down, nothing Scalia did or said in connection with the case before his death mat- tered in the outcome. A similar split between the liberals and conserva- tives was evident last week when the justices heard appeals from faith-based groups objecting to an Obama admin- istration effort to ensure their employees and students can get cost-free birth control. The court on Tuesday directed both sides to file a new round of legal briefs exploring a possible compromise, setting an April 20 deadline. High court gives unions a victory ASSOCIATED PRESS Visitors wait on the plaza of the Supreme Court in Washington Tuesday as the justices split 4-4 in a case that considered whether public employees represented by a union can be required to pay fees covering collective bargaining costs even if they are not members. The deadlock is the first tie vote since the death of Justice Antonin Scalia, who had been expected to rule against the unions, and now leaves in place an appeals court ruling that upheld the practice..