Tweeter shares soar as much as 1400 pct and are halted after

by Joseph Pisani, The Associated Press Posted Oct 4, 2013 3:19 pm MDT NEW YORK, N.Y. – A bankrupt electronics retailer appears to have gotten caught up in the investor fervour for Twitter.Shares of Tweeter Home Entertainment Group Inc. rose as high as 15 cents Friday. That’s up 1,400 per cent from Thursday’s closing price of 1 cent. And trading volume skyrocketed to 14.4 million shares. Over the past year, the daily average was about 29,000, according to FactSet.The Financial Industry Regulatory Authority, Wall Street’s industry regulator, said the shares were halted Friday afternoon because of a misunderstanding related to the “possible initial public offering of an unrelated security.”What could have gotten investors so confused?Tweeter trades over the counter, under the “TWTRQ” symbol.Twitter on Thursday offered investors details about its highly anticipated IPO and proposed the stock symbol “TWTR.”But San Francisco-based Twitter’s stock won’t be available for trading until the company actually goes public. That could be before Thanksgiving.Twitter has about 218 million users, far fewer than Facebook, which has more than 1 billion. But celebrities, from Oprah Winfrey to Britney Spears to President Barack Obama, are on it. And many TV networks and news organizations encourage people to follow their Twitter pages in order to start a conversation with viewers and promote their shows.Twitter said that it expects to raise about $1 billion in its IPO.And Tweeter? The chain was founded in 1972 and had been based in Canton, Mass. It sold TVs, audio equipment and other electronics, but the stores disappeared years ago. The company filed for bankruptcy protection in 2007 and closed the stores in 2008.Tweeter’s over-the-counter stock was worth 5 cents before trading was halted Friday._____Follow Joseph Pisani at http://twitter.com/josephpisani Tweeter shares soar as much as 1,400 pct and are halted after Twitter files for IPO read more

UN rights office appalled by Irans sentencing of antideath penalty campaigner

“We are appalled by the sentencing of a prominent Iranian anti-death penalty campaigner […] in charges that stem from her courageous human rights work,” said spokesperson Ravina Shamdasani of the Geneva-based Office of the UN High Commissioner for Human Rights (OHCHR).“Her sentencing is illustrative of an increasingly low tolerance for human rights advocacy in Iran,” she added.Ms. Mohammadi is already in Evin Prison in Tehran, serving out a prison sentence for breaching the country’s sweeping national security laws. The human rights defender is believed to have serious medical conditions and has reportedly not been granted adequate access to the specialised medical care she needs.The UN human rights office and other human rights mechanisms have long urged the Iranian authorities to release Ms. Mohammadi, “but to no avail,” the spokesperson said. read more