android studio unable to socket,Android Studio unable to run project on device?

I am getting the following error. I couldn't find why this happens on the internet either.

ddms: Can't bind to local 8601 for debugger

ddmlib: Broken pipe

java.io.IOException: Broken pipe

at sun.nio.ch.FileDispatcher.write0(Native Method)

at sun.nio.ch.SocketDispatcher.write(SocketDispatcher.java:29)

at sun.nio.ch.IOUtil.writeFromNativeBuffer(IOUtil.java:69)

at sun.nio.ch.IOUtil.write(IOUtil.java:40)

at sun.nio.ch.SocketChannelImpl.write(SocketChannelImpl.java:336)

at com.android.ddmlib.JdwpPacket.writeAndConsume(JdwpPacket.java:213)

at com.android.ddmlib.Client.sendAndConsume(Client.java:675)

at com.android.ddmlib.HandleHeap.sendREAQ(HandleHeap.java:342)

at com.android.ddmlib.Client.requestAllocationStatus(Client.java:521)

at com.android.ddmlib.DeviceMonitor.createClient(DeviceMonitor.java:847)

at com.android.ddmlib.DeviceMonitor.openClient(DeviceMonitor.java:815)

at com.android.ddmlib.DeviceMonitor.processIncomingJdwpData(DeviceMonitor.java:775)

at com.android.ddmlib.DeviceMonitor.deviceClientMonitorLoop(DeviceMonitor.java:664)

at com.android.ddmlib.DeviceMonitor.access$100(DeviceMonitor.java:46)

at com.android.ddmlib.DeviceMonitor$3.run(DeviceMonitor.java:592)

ddmlib: Broken pipe

java.io.IOException: Broken pipe

at sun.nio.ch.FileDispatcher.write0(Native Method)

at sun.nio.ch.SocketDispatcher.write(SocketDispatcher.java:29)

at sun.nio.ch.IOUtil.writeFromNativeBuffer(IOUtil.java:69)

at sun.nio.ch.IOUtil.write(IOUtil.java:40)

at sun.nio.ch.SocketChannelImpl.write(SocketChannelImpl.java:336)

at com.android.ddmlib.JdwpPacket.writeAndConsume(JdwpPacket.java:213)

at com.android.ddmlib.Client.sendAndConsume(Client.java:675)

at com.android.ddmlib.HandleHeap.sendREAQ(HandleHeap.java:342)

at com.android.ddmlib.Client.requestAllocationStatus(Client.java:521)

at com.android.ddmlib.DeviceMonitor.createClient(DeviceMonitor.java:847)

at com.android.ddmlib.DeviceMonitor.openClient(DeviceMonitor.java:815)

at com.android.ddmlib.DeviceMonitor.processIncomingJdwpData(DeviceMonitor.java:775)

at com.android.ddmlib.DeviceMonitor.deviceClientMonitorLoop(DeviceMonitor.java:664)

at com.android.ddmlib.DeviceMonitor.access$100(DeviceMonitor.java:46)

at com.android.ddmlib.DeviceMonitor$3.run(DeviceMonitor.java:592)

Note:

My device Nexus that runs 5.0.2

My android studio is 1.0.1

My platform is mac mavericks

I am just trying to run the Login template app nothing more.

Thanks