Index: wp-content/themes/twentyfourteen/content-featured-post.php
===================================================================
--- wp-content/themes/twentyfourteen/content-featured-post.php	(revision 25789)
+++ wp-content/themes/twentyfourteen/content-featured-post.php	(working copy)
@@ -27,10 +27,6 @@
 				if ( $images ) :
 					$image = array_shift( $images );
 					echo wp_get_attachment_image( $image->ID, 'featured-thumbnail-featured' );
-
-				else : ?>
-					<img class="featured-thumbnail-featured" src="<?php echo get_template_directory_uri(); ?>/images/placeholder.png" alt="" /><?php
-
 				endif;
 			endif;
 		?>
@@ -46,9 +42,5 @@
 
 			<?php the_title( '<h1 class="entry-title"><a href="' . esc_url( get_permalink() ) . '" rel="bookmark">', '</a></h1>' ); ?>
 		</header><!-- .entry-header -->
-
-		<div class="entry-summary">
-			<?php the_excerpt(); ?>
-		</div><!-- .entry-summary -->
 	</div>
 </article><!-- #post-## -->
Index: wp-content/themes/twentyfourteen/functions.php
===================================================================
--- wp-content/themes/twentyfourteen/functions.php	(revision 25789)
+++ wp-content/themes/twentyfourteen/functions.php	(working copy)
@@ -69,7 +69,7 @@
 
 	// Add several sizes for Post Thumbnails.
 	add_image_size( 'featured-thumbnail-large', 672, 0 );
-	add_image_size( 'featured-thumbnail-featured', 672, 336, true );
+	add_image_size( 'featured-thumbnail-featured', 672, 372, true );
 	add_image_size( 'featured-thumbnail-formatted', 306, 0 );
 
 	// This theme uses wp_nav_menu() in two locations.
@@ -253,63 +253,6 @@
 }
 add_action( 'admin_print_scripts-appearance_page_custom-header', 'twentyfourteen_admin_fonts' );
 
-/**
- * Set the post excerpt length to 20 words.
- *
- * @since Twenty Fourteen 1.0
- *
- * @param int $length
- * @return int
- */
-function twentyfourteen_excerpt_length( $length ) {
-	return 20;
-}
-add_filter( 'excerpt_length', 'twentyfourteen_excerpt_length' );
-
-/**
- * Return a "Continue Reading" link for excerpts.
- *
- * @since Twenty Fourteen 1.0
- *
- * @return string
- */
-function twentyfourteen_continue_reading_link() {
-	return ' <a href="'. esc_url( get_permalink() ) . '" class="more-link">' . __( 'Read More <span class="meta-nav">&rarr;</span>', 'twentyfourteen' ) . '</a>';
-}
-
-/**
- * Replace "[...]" (appended to automatically generated excerpts) with an
- * ellipsis and twentyeleven_continue_reading_link().
- *
- * @since Twenty Fourteen 1.0
- *
- * @param string $more
- * @return string
- */
-function twentyfourteen_auto_excerpt_more( $more ) {
-	return ' &hellip;' . twentyfourteen_continue_reading_link();
-}
-add_filter( 'excerpt_more', 'twentyfourteen_auto_excerpt_more' );
-
-/**
- * Add a pretty "Continue Reading" link to custom post excerpts.
- *
- * To override this link in a child theme, remove the filter and add your own
- * function tied to the get_the_excerpt filter hook.
- *
- * @since Twenty Fourteen 1.0
- *
- * @param string $output
- * @return string
- */
-function twentyfourteen_custom_excerpt_more( $output ) {
-	if ( has_excerpt() && ! is_attachment() ) {
-		$output .= twentyfourteen_continue_reading_link();
-	}
-	return $output;
-}
-add_filter( 'get_the_excerpt', 'twentyfourteen_custom_excerpt_more' );
-
 if ( ! function_exists( 'twentyfourteen_the_attached_image' ) ) :
 /**
  * Print the attached image with a link to the next attached image.
Index: wp-content/themes/twentyfourteen/images/placeholder.png
===================================================================
Cannot display: file marked as a binary type.
svn:mime-type = image/png
Index: wp-content/themes/twentyfourteen/style.css
===================================================================
--- wp-content/themes/twentyfourteen/style.css	(revision 25789)
+++ wp-content/themes/twentyfourteen/style.css	(working copy)
@@ -3006,6 +3006,10 @@
 		margin-left: 60px;
 	}
 
+	.featured-content {
+		margin-bottom: -24px;
+	}
+
 	.attachment-featured-featured {
 		height: 192px;
 	}