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Stocks held flat for the entire day up until the Federal Open Market Committee's release this afternoon, when the Dow Jones Industrial Average dramatically plunged to session lows before rebounding just as fast. As of 2:30 p.m. EDT, the blue-chip index has lost a moderate 55 points after investors unleashed a furious sell-off in the wake of the Fed's announcement, and then a second wave of traders swooped in to buy. Most Dow stocks are in the red now, but should you be concerned? Let's check out what the Fed had to say -- and why the Dow's biggest movers are winning or losing today. Volatility strikes againAll eyes have been on the Fed this week -- a few too many eyes, as short term-focused Wall Street traders have looked for cues from the central bank as to the future of quantitative easing. Surprisingly, the dramatic sell-off wasn't sparked by any change in the Fed's stimulus plan. On the contrary, the FOMC decided to continue bond-buying at its current $85 billion-a-month rate. It's another reminder that smart investors should focus on the fundamentals of businesses and stocks, rather than watch the movements of a frequently irrational market that has blown up over nothing today. Hewlett-Packard has kept investors smiling today, up 1.1% so far to rank among the Dow's leaders. Shareholders will have to be patient with the company as it continues its turnaround plan, but HP's making moves to swing away from the downtrodden PC market. Former HP personal-computer chief Todd Bradley was reassigned as a vice president of strategic growth today, leaving the company's dwindling computer business to focus instead on growing the firm's geographic standing in nations such as China. While it's a bit of a disappointment for Bradley, HP's in desperate need of a shake-up in its PC business as it looks to transition to mobile and other higher-growth areas. A number of other Dow stocks aren't faring as well today, and Verizon's the worst of the bunch, with shares down 1.5%. America's leading telecom company announced that it's weighing a potential entry into the Canadian market with a possible acquisition of Toronto-based wireless carrier Wind Mobile. Wind Mobile boasts more than 600,000 subscribers, and with the Canadian government pushing wireless competition in recent years, the purchase may not be too expensive for Verizon to expand north of the border. However, Verizon would likely have to bid against other Canadian suitors for the company, which could certainly drive the price of the deal higher. Boeing's also losing out today, with shares down 0.9%. Despite the fall, the company announced strong news from the Paris Air Show when it said it had received customer commitments to purchase 102 of its 787-10 long-body Dreamliner aircraft in deals that could amount to $29 billion. For shareholders, the optimism surrounding the 787 after this year's earlier grounding is an assurance that Boeing's flagship plane is on the right course. Fellow aerospace player United Technologies can't boast such good news, however. UTC's stock has fallen 1% after a U.S. district judge ordered the firm to pay $473 million for contract manipulation to win Air Force contracts back in the 1980s. A historical problem like this obviously won't affect UTC's business in a meaningful way going forward, but it's a financial penalty that will hurt regardless of its non-effect on the company's image. Is Boeing living up to expectations?Boeing is a major player in a multitrillion-dollar market in which the opportunities are massive. However, emerging competitors and the company's execution problems have investors wondering whether Boeing will live up to its shareholder responsibilities. The Fool's premium research report on the company provides investors with the must-know info on Boeing. They'll be updating the report as key news hits, so don't miss out -- simply click here now to claim your copy today.

Ubitus Inc., the worldwide technology leader in cloud gaming solutions, today announced it has empowered Google TV Set-top Boxes (STBs) of LG U+ for use with C-games cloud gaming, adding the latest product lineup to allow LG U+ subscribers to enjoy instant console game on demand in addition to their smartphones, tablets, connected TVs, STBs or PCs anytime, anywhere over the cloud.  Enabled by the new C-games offering, Google STB users with LG U+ tvG IPTV service subscription can start to indulge themselves with instant play of a rich library of game titles right away. Together with its global user base in the U.S., Germany, Japan, Korea, and Greater China, Ubitus continues to lead the market as the largest multi-platform N-screen cloud gaming provider with services running over on xDSL, Fiber, DOCSIS cable, WiFi and LTE networks around the world. "Ubitus commits to work with LG U+, one of our most valued customers, to jointly deliver the most advanced cloud gaming services to consumers on the devices/screens they prefer," said Wesley Kuo, CEO of Ubitus. "Coupled with LG U+'s superior network, Ubitus is also working tirelessly to keep optimizing low-latency cloud gaming mode on the Google TV platform so as to bring an amazing gaming experience on this revolutionary living room entertainment system." Every existing LG U+ tvG IPTV user with Google TV STB will be getting a firmware update for the new C-games offering and the new service will be pre-bundled on all the new Google TV STB offered by the service.

Early this week, a confusing picture of what appears to be a woman wearing "hairy leg" stockings went viral. It was first posted on China's micro-blogging service Sina Weibo before being picked up by ChinaSMACK, and then shared by major media outlets around the world. The translated caption of the picture reads: "Super sexy, summertime anti-pervert full-leg-of-hair stockings, essential for all young girls going out." The supposed stockings are covered with thick, 3D black hair, and appear to stop at the wearer's ankles. The insinuated goal is that men would be too repulsed to hit on or molest a girl wearing faux-hairy legs. It's worth noting, however, that this picture is the only one of its kind and that searches for companies who make leggings or tights that look like hairy legs has proved futile. For all we know, this could just be a really good Photoshop job, or a picture of someone's actual hairy legs. See for yourself below: SEE ALSO: China Has Built A Miniature Version Of Italy Join the conversation about this story »

The Chinese government is pushing forward with a plan that will move 250 million Chinese people from rural communities into newly constructed towns and cities over the next 12 years. The government has been bulldozing ancient villages, temples and open-air theaters as well as paving over farmland to make way for mega-cities that will raise the number of city-dwellers in China to nearly the total urban population of the US. To find out how and why this is happening, keep reading.  For decades, the Chinese Communist Party insisted that peasants, even those working in cities, be tied to plots of land in order to ensure political and economic stability. Today, however, with the threat of a slowing economy, the party has reversed its stance, hoping to find new sources of national growth. China is looking for a way to restructure its economy, to become more independent, and rely less of exportation. Their solution: domestic consumerism. Those who live in rural communities in China are largely self-sufficient, living off of the land and requiring very little in terms of infrastructure and transportation. By pushing for rapid urbanization and a radical shift from production to consumption, the government believes that there will be countless new opportunities for construction companies, transportation, utilities and appliance makers. “If half of China’s population starts consuming, growth is inevitable,” said Li Xiangyang, vice director of the Institute of World Economics and Politics, part of a government research institute. “Right now they are living in rural areas where they do not consume.” But this extreme approach to urbanization and modernization can be a dangerous one. In countries such as Brazil and Mexico, where urbanization was also seen as the vehicle for economic growth, slums expanded and unemployment clung to the newly relocated underclass. If China wants to succeed in its endeavor, it will need funds sufficient for the construction of new roads, hospitals, schools and community centers – which alone could cost more than $600 billion a year – as well as provide for education, health care and the pensions of ex-farmers. They will have to coordinate intensely among various ministries and somehow balance the rights of those dislocated by their policies. At his inaugural news conference, the country’s new prime minister, Li Keqiang, cautioned that it would require quite a few legal changes “to overcome various problems in the course of urbanization.” These could include chronic urban unemployment if jobs are unavailable, more protests from uncooperative farmers, a permanent underclass in big Chinese cities and the destruction of rural culture and religion – not to mention the obliteration (already taking place) of the traditional, organic Chinese city. The day after Chinese architect Wang Shu received the Pritzker Prize in May of 2012, he returned to the old Beijing neighborhood where he had grown up only to find it in the process of being demolished. This neighborhood – called a “hutong” – was a maze of narrow streets and traditional courtyard houses that once characterized the urban fabric of a Chinese city; now, however, they are rapidly transforming into sprawling, gridded mega-cities of identical skyscrapers – copy-cats of many modern cities in the West. “Cities today have become far too large,” Wang said in an interview in April. “I’m really worried, because it’s happening too fast and we have already lost so much.” While China’s intense urbanization has caused irreversible destruction to much of the country’s rich architectural and urban past, it has also created and continues to create countless opportunities for innovative design. With so many plans and projects waiting to be developed, it’s only natural that China is becoming more and more fascinating to the architecture world. But what price must be paid, what sacrifices made by 250 million l

A Bosnian man played a full soccer match with a 9mm bullet in his head this past weekend, and only discovered it when complaining about a headache. While some soccer players are masters of making dramatic flops, he managed to make getting shot in the head one of the least dramatic injuries on record. And he only let up one goal, too. Dusko Krtalica, a 51-year-old amateur goalie, thought that the pain in his head came from banging it against a goalpost while making a save, but became more concerned when he felt numbness in his arm and had trouble speaking. After he was driven to a hospital, doctors were shocked by X-rays that showed a bullet lodged in the side of his skull. The hospital’s neurosurgeons performed an operation and reported that the foreign object was successfully removed. Krtalica is now in stable condition. Upon investigation, police found 12 shells in the vicinity of the field where Krtalica had been playing. The likely source of the gunfire? A wedding, of course. It turns out that there were three weddings in the area on that day, and one or more guests decided that a few celebratory gunshots were in order. Thankfully, Krtalica was the only person harmed, especially lucky since children often play on the same field. Investigators reported that they had arrested a 42-year-old man named Seyne Ligata, who had been a guest at one of the weddings, for firing the shots. Though Krtalica will hopefully have a full recovery, might we suggest less dangerous ways of celebrating a wedding? No one’s ever gone to the hospital for too much rice being thrown at them. Well, probably not. We hope. (via Yahoo Sports, image via Flickr) Meanwhile in related links This gun fires coins and more, making surgeons’ lives an endless mystery of what objects they’ll find lodged in unusual places A Chinese reporter covered an earthquake while in her wedding dress Shaq has his own soda… look, we don’t do sports, okay?

Do you remember when you first learned about Native American Indians in elementary school? You may have learned, like I did, that when these tribes went hunting, they made full use of the animals they killed. They ate the meat, used the horns and feathers for tools and adornment, and made clothing and teepees from the leather. In today’s world, there’s a common misconception that our leather comes about in a similar way; that it’s simply “left over” from large scale meat production. Many people – including vegetarians, my former self included – believe that since the animal has already died, its skin will go to waste unless we manufacture it into something useful. Well, that notion is wrong. The reality is that leather is not a by-product of the meat industry but a very lucrative co-product. It is produced not to minimize waste, but to meet consumer demand and is often more economically valuable than meat. As this article from The Guardian points out: “It might be more accurate to describe [leather] as a subsidy. It’s very hard to get any statistics as the big meat companies are under no obligation to release figures, but the selling of skins can certainly be very profitable for farmers (while meat is not always so). Farmers don’t sell hides … out of the kindness of their hearts or from a desire to minimise waste. They are in a moneymaking business and need to maximise profits, and the leather industry is worth billions, if not trillions, of dollars annually.” The scale is tipping so that more and more animals – particularly exotic animals like ostrich, snake, and alligator – are being killed just for their skin and not their meat. Perhaps even more alarmingly, China – a leading exporter of leather – annually skins millions of cats and dogs, a practice unknown to most consumers due to mislabeling or complete lack of labeling. There’s more to the story. Some of the softest, most expensive leather on the market is calfskin or kid leather, which as the New York Times points out, “is most definitely not a byproduct, as it comes from newborn calves, or sometimes from calf fetuses.” If veal is a moral problem for many carnivores, then why isn’t calfskin? If fur is a moral problem for many carnivores, then why isn’t leather in general? Cows and furry animals are both treated inhumanely and both suffer gruesome deaths when killed for their skins. In fact, the leather industry may be even worse than the fur industry when one takes into account the harm done to humans and the environment when leather is produced.  Hides must undergo a three-step process to become leather, which includes tanning and usually dying. Harsh chemicals including ammonia, cyanide-based dyes, and formaldehyde are just a few of the toxins released into the environment during these processes. Since the majority of leather comes from India and China, countries with poor environmental and workplace standards, leather workers often have virtually no protection against toxins that result in cancer, blindness, respiratory problems, skin diseases and birth defects in their children. These pollutants are also released into the air, soil and water supplies in communities surrounding tanneries, poisoning people who have nothing to do with the leather industry. There’s no reason to support leather when there are an ever-growing number of humane and safe alternatives. Brands like Matt and Nat, OlsenHaus, and Beyond Skin not only produce non-leather shoes and handbags, but strive to incorporate recycled materials and environmentally-conscious production methods. It is also possible to find “unintentionally vegan” products from major brands like Steve Madden, Nine West Outlet, BCBGeneration and hundreds more. The quality of faux leather from these brands is often so high that it is difficult to discern them from genuine leather, and their durability is testament to the fact that synthetic leather can last just as long as the real thing. Even more encour

Lentuo International Inc. (LAS) primarily operates automobile franchise dealerships in the People?'s Republic of China, and also offers a wide range of products and services associated with the industry, including auto repair, parts and leasing. It also provides assistance to those needing help in getting insurance and financing.Brands sold through its dealerships as of this writing are Toyota, Honda, Audi, FAW-Mazda, Chang An-Mazda, FAW-Volkswagen and Shanghai-Volkswagen.It operates eleven franchise dealerships, ten automobile showrooms, one automobile repair shop and one car leasing company.Besides individual customers, Lentuo also sells new vehicles to a variety of institutional customers, including government and taxi companies. It is based in Beijing and primarily operates there, although it's beginning to expand beyond that center of activity.Based on 2012 new vehicle sales, it is the largest private auto retailer in China. (click to enlarge) (click to enlarge) Latest Earnings Report Revenues for the quarter

Alcatel-Lucent (NYSE:ALU): Current price $1.96 On Wednesday, the telecommunications equipment maker initiated a significant effort to revitalize itself by cutting out divisions and jobs, as part of a deep cost-reduction program. Shares are up more than 6 percent in late morning trading on the announcement, as investors anticipate that the plan will now yield the solid profits that have not been seen at Alcatel in years. The Paris-based firm supplies operators like AT&T, Verizon, and Orange, and reported that it will sell off over $1.33 billion in assets through 2015, hoping for that amount in cost savings. NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW! Pfizer (NYSE:PFE): Current price $29.70 Pfizer investors should think about participating in the Zoetis exchange, says BMO Capital, which believes that they currently have an opportunity to own Zoetis at between $29.40 and $29.70 per share, which would be 15 percent under the research firm’s valuation of $34 per share. Beyond that, BMO says that there is strong support for Zoetis below $30, which it thinks reduces downside risk, and recommends that Pfizer investors tender approximately one-fifth of their shares into the exchange because, with the offer probably being oversubscribed, not every tendered share will be converted to Zoetis. NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW! Ford Motor Company (NYSE:F): Current price $15.55 Ford continues to grow in China, as it inaugurates a $500-million engine factory in Chongqing (formerly Chungking) on Wednesday in yet another indication of its increasing footprint in the planet’s biggest automotive market. The automaker’s joint venture with Changan Ford Automotive has an initial yearly capacity of 400,000 engines, producing 1-liter three-cylinder EcoBoosts and 1.5-liter four-cylinder units, which more than doubles Changan Ford’s annual output capacity of 350,000 engines. NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW! Don’t Miss: Can Vodafone Acquire Germany’s Largest Cable Provider? Read the original article from Wall St. Cheat Sheet

In China, hairy leg stockings are all the rage *Ladies are you tired of men flirting with you, especially at the most inopportune moments? You’re out with a group of girlfriends, having a good time and here comes the whistling and barking.  Well no more of that once you show them your new legs. NO, you don’t have to get prosthetic legs, just grab you a pair of hairy leg stockings.  That’s right!  They’re all the rage in China. They just hit the internet through one of china’s social media sites and when translated by China Smack, the commentary for the stockings was good. (more…)

China Distance Education Holdings Limited (DL) Deutsche Bank Depositary Receipts Virtual Investor Conference June 19, 2013 10:45 AM ET Executives Ping Wei - CFO Analysts Zafar Aziz - Head of DR Market Solutions, Deutsche Bank Depository Team Presentation Zafar Aziz - Head of DR Market Solutions, Deutsche Bank Depository Team Hello and welcome to our next presentation by China Distance Education. My name is Zafar Aziz, Head of DR Market Solutions at Deutsche Bank Depository Team. Before I introduce you to the next presentation, a few quick points. Towards the end of the presentation there will be a Q&A session. Please click into the China Distance Education booth where representatives will be ready to answer your questions under the chat talk function. Please also remember that after the presentation and the Q&A session, which should last around 15 minutes, you can continue asking questions. Otherwise if you wish to listen