Wall Street up after Alcoa earnings news

NEW YORK (Reuters) - Stocks rose on Wednesday as Alcoa's better-than-expected revenue and a positive outlook boosted investor confidence ahead of an earnings season expected to show lackluster results.


The session's rise was the first of the week after the market retreated from the S&P 500's highest point in five years, hit last Friday. Worries about a weak earnings season kept the markets down earlier in the week.


Shares of Alcoa Inc were trading flat after early gains, following the company's earnings release after the bell on Tuesday. The largest U.S. aluminum producer said it expects global demand for aluminum to grow in 2013.


Traders have been cautious as the current quarter was shaping up like the previous one, with companies lowering expectations in recent weeks, said James Dailey, portfolio manager of TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.


"So the big question and focus is on revenue, and Alcoa had better-than-expected revenue," which calmed the market a little, Dailey said.


Overall, corporate profits were expected to beat the previous quarter's meager 0.1 percent rise. Both earnings and revenues in the fourth quarter were expected to grow by 1.9 percent, according to Thomson Reuters data.


The lowered expectations also leave room for companies to surprise investors even if their results are not particularly strong, analysts said.


The Dow Jones industrial average <.dji> gained 59.47 points, or 0.45 percent, at 13,388.32. The Standard & Poor's 500 Index <.spx> rose 3.86 points, or 0.26 percent, at 1,461.01. The Nasdaq Composite Index <.ixic> was up 14.93 points, or 0.48 percent, at 3,106.74.


Clearwire Corp shares jumped 7.7 percent to $3.15 after Dish Network bid $2.28 billion for the company, trumping a previous Sprint offer and setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.


Herbalife Ltd stock rose 4 percent to $39.89 following news that hedge fund manager Dan Loeb took a stake of more than 8 percent in the nutritional supplements seller, according to a regulatory filing. Prominent short-seller Bill Ackman had previously accused the company of being a "pyramid scheme," which Herbalife has vehemently denied.


Facebook Inc shares rose above $30 per share for the first time since July 2012, trading up 4.7 percent at $30.43. Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its headquarters next week.


Apollo Group Inc slid after heavier losses early on, a day after it reported lower student sign-ups for the third straight quarter and cut its operating profit outlook for 2013. Apollo's shares were last off 6.6 percent at $19.55.


(Reporting by Gabriel Debenedetti; additional reporting by Angela Moon; Editing by Nick Zieminski)



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Retooling Pap test to spot more kinds of cancer


WASHINGTON (AP) — For years, doctors have lamented that there's no Pap test for deadly ovarian cancer. Wednesday, scientists reported a tantalizing hint that one day, there might be.


Researchers are trying to retool the Pap, a test for cervical cancer that millions of women get, so that it could spot early signs of other gynecologic cancers, too.


How? It turns out that cells can flake off of tumors in the ovaries or the lining of the uterus, and float down to rest in the cervix, where Pap tests are performed. These cells are too rare to recognize under the microscope. But researchers from Johns Hopkins University used some sophisticated DNA testing on the Pap samples to uncover the evidence — gene mutations that show cancer is present.


In a pilot study, they analyzed Pap smears from 46 women who already were diagnosed with either ovarian or endometrial cancer. The new technique found all the endometrial cancers and 41 percent of the ovarian tumors, the team reported Wednesday in the journal Science Translational Medicine.


This is very early-stage research, and women shouldn't expect any change in their routine Paps. It will take years of additional testing to prove if the so-called PapGene technique really could work as a screening tool, used to spot cancer in women who thought they were healthy.


"Now the hard work begins," said Hopkins oncologist Dr. Luis Diaz, whose team is collecting hundreds of additional Pap samples for more study and is exploring ways to enhance the detection of ovarian cancer.


But if it ultimately pans out, "the neat part about this is, the patient won't feel anything different," and the Pap wouldn't be performed differently, Diaz added. The extra work would come in a lab.


The gene-based technique marks a new approach toward cancer screening, and specialists are watching closely.


"This is very encouraging, and it shows great potential," said American Cancer Society genetics expert Michael Melner.


"We are a long way from being able to see any impact on our patients," cautioned Dr. Shannon Westin of the University of Texas MD Anderson Cancer Center. She reviewed the research in an accompanying editorial, and said the ovarian cancer detection would need improvement if the test is to work.


But she noted that ovarian cancer has poor survival rates because it's rarely caught early. "If this screening test could identify ovarian cancer at an early stage, there would be a profound impact on patient outcomes and mortality," Westin said.


More than 22,000 U.S. women are diagnosed with ovarian cancer each year, and more than 15,000 die. Symptoms such as pain and bloating seldom are obvious until the cancer is more advanced, and numerous attempts at screening tests have failed.


Endometrial cancer affects about 47,000 women a year, and kills about 8,000. There is no screening test for it either, but most women are diagnosed early because of postmenopausal bleeding.


The Hopkins research piggybacks on one of the most successful cancer screening tools, the Pap, and a newer technology used along with it. With a standard Pap, a little brush scrapes off cells from the cervix, which are stored in a vial to examine for signs of cervical cancer. Today, many women's Paps undergo an additional DNA-based test to see if they harbor the HPV virus, which can spur cervical cancer.


So the Hopkins team, funded largely by cancer advocacy groups, decided to look for DNA evidence of other gynecologic tumors. It developed a method to rapidly screen the Pap samples for those mutations using standard genetics equipment that Diaz said wouldn't add much to the cost of a Pap-plus-HPV test. He said the technique could detect both early-stage and more advanced tumors. Importantly, tests of Paps from 14 healthy women turned up no false alarms.


The endometrial cancers may have been easier to find because cells from those tumors don't have as far to travel as ovarian cancer cells, Diaz said. Researchers will study whether inserting the Pap brush deeper, testing during different times of the menstrual cycle, or other factors might improve detection of ovarian cancer.


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Face-off in Chinese City Over Censorship of Newspaper


Jonah M. Kessel for The New York Times


A free speech advocate outside of Southern Weekend newspaper in Guangzhou, China, on Tuesday.







GUANGZHOU, China — Protests over censorship at one of China’s most liberal newspapers descended into ideological confrontation on Tuesday, pitting advocates of free speech against supporters of Communist Party control who wielded red flags and portraits of Mao Zedong.




The face-off between liberals and leftists at the headquarters of a newspaper company in southern China came after disgruntled editors and reporters at Southern Weekend last week decried what they alleged was crude meddling by the head of party propaganda in Guangdong Province, which has long had a reputation as a bastion of a relatively free press.


The protesting journalists at Southern Weekend have called for the dismissal of Tuo Zhen, the top propaganda official in Guangdong Province. They blame Mr. Tuo, a former journalist, for making a drastic change in a New Year’s editorial that had originally called for greater respect for constitutional rights. The revised editorial instead praised Communist Party policies.


A former editor with the Southern Daily group of newspapers, which includes Southern Weekend, said negotiations continued on Tuesday between representatives of the disgruntled journalists and newspaper managers and provincial propaganda officials.


The former editor, who asked that his name not be used for fear it could jeopardize his new job, said the talks focused on the protesting journalists’ demands that the paper’s managers rescind a statement that denied that Mr. Tuo was responsible for the New Year editorial and for an inquiry into the incident.


“They want that statement to be removed, and they also want assurances about relaxing controls on journalists — not removing party oversight, but making it more reasonable, allowing reporters to challenge officials,” he said. “The other main demand is for an impartial explanation of what happened, an accounting so it won’t happen again.”


The former editor said a continued standoff into Wednesday could jeopardize the newspaper’s usual publication on Thursday. “In effect, it’s a strike,” he said. “It looks unclear whether it can come out on Thursday.”


Senior Chinese officials have so far not commented publicly on the censorship dispute at the newspaper, which has tested how far the recently appointed Communist Party leader, Xi Jinping, will extend his vows of economic reform into a degree of political relaxation. But self-proclaimed defenders of Communist orthodoxy who turned up at the newspaper headquarters said on Tuesday that they were there to make the party’s case.


“We support the Communist Party, shut down the traitor newspaper,” said one of the cardboard signs held up by one of 10 or so protesters who came to defend the government.


“Southern Weekend is having an American dream,” said another of the signs. “We don’t want the American dream, we want the Chinese dream.”


Some of the group held up portraits of Mao, the late revolutionary leader who remains a symbol of communist zeal, while others waved the red flags of China and of the Communist Party. Most of the party supporters refused to give their names. They said they came on their own initiative, and not at the behest of officials.


The dueling protests outside the newspaper’s headquarters in this provincial capital reflected the political passions and tensions churned up by the quarrel over censorship, which has erupted while Mr. Xi is trying to win public favor and consolidate his authority.


Hundreds of bystanders watched and took photos on mobile phones as the leftists shouted at the 20 or more protesters who had gathered to denounce censorship, and shoving matches broke out between the demonstrators.


At one point, leftists were showered with 50-cent renminbi currency notes. The “Fifty Cent Party” has become a popular term for disparaging pro-party leftists, who are alleged by critics to be willing to take 50 cents in payment for each pro-party message they send onto the Internet.


“It’s the only newspaper in China that’s willing to tell the truth,” said Liang Taiping, 28, a poet from the southern city of Changsha who said he took the train to Guangzhou to show his support for Southern Weekend, which is widely read nationwide.


“What’s the point of living while you can’t even speak freely?” he said.


About 70 police officers and security guards stood nearby. They did not try to break up the protests, but officers recorded them with video cameras and occasionally stepped in to stop shoving and fisticuffs. Later, the rival protesters broke into separate camps concentrated on different sides of the gate to the newspaper headquarters.


The protests at Southern Weekend broke out while Mr. Xi, the party’s general secretary appointed in November, has been sending mixed signals about his intentions. He has repeatedly said he supports faster and bolder reform, but on Saturday he gave a speech defending the party’s history and Mao’s standing in it.


The Central Propaganda Department, which administers the censorship apparatus, issued instructions telling news media that the dispute at Southern Weekend was “due to the meddling of hostile outside forces,” according to China Digital Times, a group based in Berkeley, Calif., that monitors media and censorship issues.


Both supporters and critics of Southern Weekend journalists have claimed that Mr. Xi would back their cause.


“I don’t believe that Xi is totally hypocritical when he talks about reform,” said Chen Min, a prominent former opinion writer for Southern Weekend who was forced out of the newspaper in 2011.


“The Southern Weekend journalists have said that they accept party control, but the question is what kind of control and how far should it go unchallenged,” Mr. Chen added.


Jonah Kessel reported from Guangzhou, China, and Chris Buckley from Hong Kong. Mia Li contributed reporting from Guangzhou, and Patrick Zuo from Beijing.



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Sony unveils Xperia Z Android phone with full HD display









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Matthew McConaughey Getting Strength Back, But Not by Changing Diapers















01/08/2013 at 02:30 PM EST







Matthew McConaughey


George Pimentel/WireImage


Matthew McConaughey is slowly getting stronger after his incredible weight loss. But his workout regimen doesn't include much heavy lifting as a new father.

Asked at Monday night's New York Film Critics Circle Awards dinner if he's running home to change diapers, the actor, 43, told reporters: "I was there this morning, so I guess I am running home. But I'm not changing the diapers."

So, who is?

"Somebody," he said.

For now, the father of 11-day-old son Livingston – as well as older siblings Levi, 4, and Vida, 3 – is focused on getting his own body back to normal.

Asked if he misses his old hunky physique, he replied: "I have less [physical] leverage, but my mind is way sharper … You know, I love to wrestle. It's a good time to wrestle me now. I was 135 lbs., and now I'm up to 160 lbs, so I'm done with that and on my way back."

McConaughey says his target weight is 165 lbs., so he's only 5 lbs. shy of that.

The actor lost the weight for a role in Dallas Buyers Club through an intense diet. When that was over, he knew exactly what he wanted to eat first.

"A cheeseburger," he said. "That was it. I got the cheeseburger, and then I sat there for 25 minutes and doozied it up."

Reporting by MICHELLE WARD

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Wall Street declines as earnings clarity awaited

NEW YORK (Reuters) - Stocks declined on Tuesday as the market continued its retreat from last week's rally on the "fiscal cliff" deal in Congress as investors awaited the start of the earnings season with muted expectations.


Profits in the fourth quarter are seen above the previous quarter's lackluster results, but analysts' current estimates are down sharply from where they were in October. Quarterly earnings are expected to grow by 2.7 percent, according to Thomson Reuters data.


The benchmark S&P index has fallen 0.5 percent in the wake of the 4.3 percent jump in the two days surrounding the conclusion of the fiscal cliff debate, and investors have found few catalysts to extend the brief rally.


"We had a brief respite courtesy of what happened on the fiscal cliff deal and the flip of the calendar with new money coming into the market," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.


"But now the stark reality of uncertainty with regard to earnings, plus the negotiations on the debt ceiling, are there and that doesn't give investors a lot of reason to take bets on the long side."


In Tuesday's results, Monsanto Co shares rose 2.6 percent to $98.45 after hitting a more than four-year high at $99.99. The world's largest seed company raised its earnings outlook for fiscal 2013 and posted strong first-quarter results.


Education provider Apollo Group and Dow component Alcoa Inc , the largest U.S. aluminum producer, round out the start of earnings season after the closing bell.


The Dow Jones industrial average <.dji> dropped 73.13 points, or 0.55 percent, to 13,311.16. The Standard & Poor's 500 Index <.spx> lost 6.91 points, or 0.47 percent, to 1,454.98. The Nasdaq Composite Index <.ixic> fell 12.68 points, or 0.41 percent, to 3,086.13.


AT&T Inc , which fell 1.8 percent to $34.30, was among the biggest drags on the S&P 500 after the company said it had sold more than 10 million smartphones in the quarter, topping the same quarter in 2011 but also increasing costs for the wireless service provider.


Providers like AT&T pay hefty subsidies to handset makers so that they can offer device discounts to customers who commit to two-year contracts.


The S&P telecom services index <.gspl>, down 2.4 percent, was the worst performing of the 10 major S&P sectors.


Shares of restaurant-chain operator Yum Brands Inc fell 4.2 percent to $65.04 a day after the KFC parent warned sales in China, its largest market, shrank more than expected in the fourth quarter.


Sears Holdings shares dropped 3.8 percent to $41.31 a day after the company said Chairman Edward Lampert would take over as CEO from Louis D'Ambrosio, who is stepping down due to a family member's health issue. The U.S. retailer also reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.


GameStop shares slumped 6.2 percent to $23.22 as the worst performer on the S&P 500 after the video game retailer reported sales for the holiday season and cut its guidance.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)



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Report: Death rates from cancer still inching down


WASHINGTON (AP) — Death rates from cancer are continuing to inch down, researchers reported Monday.


Now the question is how to hold onto those gains, and do even better, even as the population gets older and fatter, both risks for developing cancer.


"There has been clear progress," said Dr. Otis Brawley of the American Cancer Society, which compiled the annual cancer report with government and cancer advocacy groups.


But bad diets, lack of physical activity and obesity together wield "incredible forces against this decline in mortality," Brawley said. He warned that over the next decade, that trio could surpass tobacco as the leading cause of cancer in the U.S.


Overall, deaths from cancer began slowly dropping in the 1990s, and Monday's report shows the trend holding. Among men, cancer death rates dropped by 1.8 percent a year between 2000 and 2009, and by 1.4 percent a year among women. The drops are thanks mostly to gains against some of the leading types — lung, colorectal, breast and prostate cancers — because of treatment advances and better screening.


The news isn't all good. Deaths still are rising for certain cancer types including liver, pancreatic and, among men, melanoma, the most serious kind of skin cancer.


Preventing cancer is better than treating it, but when it comes to new cases of cancer, the picture is more complicated.


Cancer incidence is dropping slightly among men, by just over half a percent a year, said the report published by the Journal of the National Cancer Institute. Prostate, lung and colorectal cancers all saw declines.


But for women, earlier drops have leveled off, the report found. That may be due in part to breast cancer. There were decreases in new breast cancer cases about a decade ago, as many women quit using hormone therapy after menopause. Since then, overall breast cancer incidence has plateaued, and rates have increased among black women.


Another problem area: Oral and anal cancers caused by HPV, the sexually transmitted human papillomavirus, are on the rise among both genders. HPV is better known for causing cervical cancer, and a protective vaccine is available. Government figures show just 32 percent of teen girls have received all three doses, fewer than in Canada, Britain and Australia. The vaccine was recommended for U.S. boys about a year ago.


Among children, overall cancer death rates are dropping by 1.8 percent a year, but incidence is continuing to increase by just over half a percent a year. Brawley said it's not clear why.


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The Lede Blog: Video of Chinese Censorship Protest

A video report from Euronews on an anti-censorship protest on Monday in the Chinese city of Guangzhou, the capital of Guangdong Province.

As my colleague Edward Wong reports, hundreds of protesters gathered outside the headquarters of a newspaper office in southern China on Monday to register their anger at the censorship of a recent editorial.

Video of the demonstration, posted online by international news organizations and Chinese bloggers, showed the protesters carrying white and yellow chrysanthemums, a flower that symbolizes mourning, and banners that read: “Get rid of censorship. The Chinese people want freedom.”

Video uploaded to a Chinese social media site on Monday showed a protest outside the offices of Southern Weekend, a relatively liberal newspaper in Guangzhou.

One video clip uploaded to a Chinese social media site and later copied to YouTube showed that the event was documented by a number of photographers, including at least one uniformed police officer.

Video uploaded to a Chinese social media site on Monday showed a protest outside the offices of Southern Weekend, a relatively liberal newspaper in Guangzhou.

Hang Tung Chow of Labour Action China, a nongovernmental organization based in Hong Kong, posted copies of several images and video clips of the protest originally uploaded to Chinese social media accounts on her Twitter feed.

Angry journalists at the Southern Weekend newspaper have called for the removal of Tuo Zhen, the top propaganda official in Guangdong, blamed for censoring a New Year’s editorial that was supposed to have called for greater respect for rights enshrined in China’s Constitution. One video clip uploaded to YouTube on Sunday showed a lone man protesting outside the newspaper building holding a sign reading: “Tuo Step Down!”

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LG kicks off CES with 55-inch ‘ultra-HD’ TV






LAS VEGAS (AP) — LG unveiled a 55-inch TV that sports “ultrahigh-definition” resolution with four times the sharpness of regular HD television sets, kicking off what is likely to be a mini-obsession with the latest super-clear format at the annual International CES gadget show.


The model announced Monday is the smallest in a 2013 lineup that includes 65-inch and 84-inch versions. But the smaller size — and smaller price tag — begins the parade of TV makers that are seeking to bring ultrahigh definition to the masses.






Also known as “4K,” ultrahigh-definition screens are 3,840 pixels wide and 2,160 pixels tall, or more than 8 million in all. The higher resolution will let TV screens get larger without degrading picture quality, though initially the price tag will limit those sets to technology’s early adopters.


LG said the 55-inch and 65-inch versions will be available later this year in the U.S. No price was announced, but it will be less than $ 10,000. The 84-inch version that went on sale late last year cost $ 20,000.


For a few years, though, there won’t likely be a mainstream standard for getting native ultra-HD movies and TV shows to the screen either by disc or broadcast.


LG Electronics Inc. said these new TVs will have upscaling technology that takes images of lesser quality and renders them in high detail. The Korean electronics maker also said it has formed an ultra-HD content agreement with Korea’s top broadcaster, KBS, and is seeking out deals with other global content providers. The company offered no specifics.


LG said that with an ultra-HD TV, it will be possible to play phone games with very sharp resolution and in 3-D. The company said it has been possible to hook up smartphones to the TV to play games with current sets, but the resolution isn’t good.


Along with the lineup of higher-resolution TVs, LG unveiled a new Magic Remote, which acts like a wand that is sensitive to motion and is used to navigate on-screen menus. LG said the new model responds better to natural speech and can be controlled with a single finger rather than “very tiring arm gestures.” It also lets you change the channels by writing numbers in the air.


The company also touted the ability to tap different devices so they can share data. With that capability, you’d be able to see what’s inside your refrigerator while shopping, and you’d be able to monitor how clean your house is getting with cameras on a robotic vacuum. Washing machines will also have such capabilities.


Gadgets News Headlines – Yahoo! News





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Katie Holmes Stuns in First Bobbi Brown Beauty Ad







Style News Now





01/07/2013 at 12:45 PM ET











Katie Holmes Bobbi Brown AdCourtesy: Bobbi Brown Cosmetics


Katie Holmes made headlines when she was named the first-ever celebrity face of Bobbi Brown Cosmetics back in September, and now we finally get a glimpse of the star’s gorgeous ad campaign.


The normally fresh-faced actress works a sexy smoky eye — which we plan on replicating this weekend — in the advertisement for the brand’s new Long-Wear Cream Shadow Sticks (in stores in February for $28 each). Pretty pink lips, loose waves and a statement necklace complement the dramatic makeup effect.



It turns out Holmes was a fan of the makeup company long before she started working with the team. “[Bobbi Brown's] color palettes aren’t extreme, so when I first started wearing makeup it felt comfortable and I didn’t feel like I had too much on,” Holmes says in a statement.


She adds that she also admires Bobbi Brown the person, as well. “I met her, and she is just a lovely person — so generous. I think that it’s so exciting what she’s built with this company. She’s an incredible woman. So I’m thrilled on so many levels.”


Though this is Holmes’s first foray into the makeup business, she’s no stranger to the beauty world: She starred in a series of short videos for John Frieda hair care in 2011. Tell us: What do you think of Holmes’s Bobbi Brown ad?


–Jennifer Cress


PHOTOS: SHOP EDITOR-APPROVED BEAUTY PRODCUTS!




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