Continual Passage Of Staphylococcus Epidermidis In Subinhibitory Levels Of The Biocide Triclosan Results In A Marked Increase In The Minimum Inhibitory Concentration, Antibiotic Resistance, And Ethidium Bromide Resistance

Triclosan is a multi-purpose biocide that is used in many personal care products, including antibacterial hand soaps and toothpastes. The wide usage of triclosan fosters its dispersal into the enviro11l11ent, which might contribute to the ability of microorganisms to become resistant to triclosan in addition to certain other biocides and clinical antibiotics. The aim of this study was to evaluate whether long-term exposure of two strains of Staphylococcal epide]\u27midis to subinhibitory concentrations of triclosan would select for resistant mutants, and whether their ability to form polysaccharide biofilms lends to this resistance. This study also aimed to determine whether a mutation in the triclosan target was responsible for resistance, and to determine whether these mutants could exhibit cross-resistance to chlorhexidine and clinical antibiotics. In addition, efflux capability was assessed as a presumable resistance mechanism

On the Information Content of Calls of Convertible Securities

Negative stock price reactions to conversion-forcing calls of convertible bonds and preferred stocks are reexamined, and most of the sample firms are shown to exhibit full price recovery by the end of the conversion period. In addition, analysts\u27 earnings forecasts, both short-term and long-term, are found to be revised upward following call announcements for convertible bonds and preferred stocks. The combined findings cast doubt on the established belief that such capital structure decisions signal negative information about firm value

Liquidity Costs and Stock Price Response to Convertible Security Calls

Firms\u27 announcements to call in-the-money convertible securities for redemption essentially force their conversion into common stock, and such announcements are generally met with significant reductions in the calling firms\u27 equity values. An explanation based on liquidity costs is advanced and tested. The explanation implies that investors who choose to sell their shares early in the conversion period bear liquidity costs by selling at reduced prices. Consistent with the explanation, the average share price decline is short-lived, lasting most of the conversion period. Thus, a component of the call announcement effect appears to be due to liquidity costs

The Macroeconomic News Cycle and Uncertainty Resolution

We examine the behavior of return volatility and trading at 5-minute intervals in the treasury bond futures market in the context of the monthly macroeconomic news cycle. We advance and confirm the hypothesis that volatility and trading activity are higher in the first half of the month. The data indicate that these patterns arise from at least two sources: (1) a higher level of uncertainty regarding the value of news in announcements in the first half of the month, and (2) improvement in efficiency of macroeconomic forecasts from the first to the second half of the month

The Macroeconomic News Cycle and Uncertainty Resolution

We examine the behavior of return volatility and trading at 5-minute intervals in the treasury bond futures market in the context of the monthly macroeconomic news cycle. We advance and confirm the hypothesis that volatility and trading activity are higher in the first half of the month. The data indicate that these patterns arise from at least two sources: (1) a higher level of uncertainty regarding the value of news in announcements in the first half of the month, and (2) improvement in efficiency of macroeconomic forecasts from the first to the second half of the month

Locations of marine animals revealed by carbon isotopes

Knowing the distribution of marine animals is central to understanding climatic and other environmental influences on population ecology. This information has proven difficult to gain through capture-based methods biased by capture location. Here we show that marine location can be inferred from animal tissues. As the carbon isotope composition of animal tissues varies with sea surface temperature, marine location can be identified by matching time series of carbon isotopes measured in tissues to sea surface temperature records. Applying this technique to populations of Atlantic salmon (Salmo salar L.) produces isotopically-derived maps of oceanic feeding grounds, consistent with the current understanding of salmon migrations, that additionally reveal geographic segregation in feeding grounds between individual philopatric populations and age-classes. Carbon isotope ratios can be used to identify the location of open ocean feeding grounds for any pelagic animals for which tissue archives and matching records of sea surface temperature are available