Wall Street climbs on China data; S&P nears resistance

NEW YORK (Reuters) - Stocks climbed on Thursday on optimism about global growth spurred by stronger-than-expected exports in China, the world's second-biggest economy, though gains in the S&P 500 were capped at a resistance level near a 5-year high.


Financial and energy stocks were the day's top gainers in afternoon trading. The financial sector index <.gspf> rose 0.8 percent and the energy sector <.gspe> was up 0.6 percent.


The benchmark Standard & Poor's 500 index hovered near a five-year closing peak of 1,466.47. On Friday, the index had closed at its highest since December 2007.


"The market is technically right at the level of resistance, near 1,465-1,467," said Randy Frederick, managing director of active trading and derivatives at Charles Schwab.


"A solid breakthrough above the level would be the start of a next leg higher, but it looks like it is going to be difficult to break above that level for now," Frederick said, citing concerns about the corporate earnings season and impending negotiations over the U.S. debt ceiling.


By late morning, the S&P 500 had erased almost all its gains from earlier Thursday in minutes. Some traders said the dip was triggered by a trade in the options market that prompted a large amount of S&P futures to hit the market at the same time, sending the S&P 500 index down rapidly.


Data showed China's export growth rebounded sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown.


The Dow Jones industrial average <.dji> was up 36.20 points, or 0.27 percent, at 13,426.71. The Standard & Poor's 500 Index <.spx> was up 5.11 points, or 0.35 percent, at 1,466.13. The Nasdaq Composite Index <.ixic> was up 0.05 points, or 0.00 percent, at 3,105.86.


In company news, shares of upscale jeweler Tiffany dropped 4.3 percent to $60.53 after it said earnings for the year through January 31 will be at the lower end of its forecast.


U.S.-traded Nokia shares jumped 18 percent to $4.42 after the Finnish handset maker said its fourth-quarter results were better than expected and that the mobile phone business achieved underlying profitability.


Herbalife Ltd stepped up its defense against activist investor Bill Ackman, stressing it was a legitimate company with a mission to improve nutrition and help public health. The stock was down 2.4 percent at $39.15.


U.S. data showed claims for unemployment benefits rose last week, though seasonal volatility made it difficult to get a clear picture of the labor market's health.


Also, U.S. wholesale inventories rose more than expected in November and sales rose by the most in more than 1-1/2 years. The market's reaction to both reports was muted.


(Editing by Bernadette Baum)



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Syria denounces peace envoy who hinted Assad must go


BEIRUT (Reuters) - Syria denounced international envoy Lakhdar Brahimi as "flagrantly biased" on Thursday, casting doubt on how long the U.N.-Arab League mediator can pursue his peace mission.


The Syrian Foreign Ministry was responding to remarks by Brahimi a day earlier in which he ruled out a role for President Bashar al-Assad in a transitional government and effectively called for the Baathist leader to quit.


"In Syria...what people are saying is that a family ruling for 40 years is a little bit too long," Brahimi told the BBC, referring to Assad, who inherited his post from his father Hafez al-Assad, who seized power in 1970 and ruled for 30 years.


"President Assad could take the lead in responding to the aspiration of his people rather than resisting it," the veteran Algerian diplomat said, hinting the Syrian leader should go.


The Foreign Ministry in Damascus said it was very surprised at Brahimi's comments, which showed "he is flagrantly biased for those who are conspiring against Syria and its people".


The ministry later said it was nevertheless still willing to work with the envoy to find a political solution to the crisis.


Brahimi has had no more success than his predecessor Kofi Annan in his quest to resolve the 21-month-old conflict in which more than 60,000 people have been killed.


British Foreign Secretary William Hague warned that violence in Syria might worsen and said the international community must "step up" its response if it does.


So far regional rivalries and divisions among big powers have stymied any concerted approach to the upheaval, one of the bloodiest to emerge from a series of revolts in the Arab world.


Russian and U.S. diplomats, who back opposing sides of the war, will meet Brahimi in Geneva on Friday.


Ahead of the meeting, Russia repeated its insistence that Assad must not be pushed from power by external forces and that his exit must not be a precondition for negotiations.


"Only the Syrians themselves can agree on a model or the further development of their country," Foreign Ministry spokesman Alexander Lukashevich said.


"MASK OF IMPARTIALITY"


Syria's al-Watan newspaper said Brahimi had removed his "mask of impartiality" to reveal his true face as a "a tool for the implementation of the policy of some Western countries".


On Sunday Assad, making his first public speech in six months, offered no concessions and said he would never talk to foes he branded terrorists and Western puppets.


As peace efforts floundered, rebels battled for a strategic air base for a second day, pursuing a civil war that had briefly receded for some Damascus residents who set aside their differences to play in a rare snowfall that blanketed the city.


For a few hours, people in the capital dropped their weapons for snowballs and traded hatred for giggles.


"Last night, for the first time in months, I heard laughter instead of shelling. Even the security forces put down their guns and helped us make a snowman," Iman, a resident of the central Shaalan neighborhood, said by Skype.


There was no respite on other battlefronts, with heavy fighting around the Taftanaz base in northwestern Syria, which insurgents are trying to capture to extend their grip on Idlib province and weaken Assad's control of the skies.


Rebels assaulted the airport's main buildings and armory using heavy guns, tanks and other weapons and appeared to have overrun half the area of the base, said Rami Abdelrahman, director of the Syrian Observatory for Human Rights, a pro-opposition group that monitors the conflict from abroad.


"Now, it's serious," he said.


The air base has been used to launch helicopter attacks in the region, and its loss would be a blow to the government's ability to defend its positions there, Abdelrahman said.


MISSILE LAUNCH


Insurgents have tried to take the base for months, but have been bolstered by the recent arrival of Islamist fighters including the al Qaeda-linked al-Nusra Front, he added.


There was no immediate government account of the fighting, which could not be confirmed independently.


Opposition forces have seized swathes of territory in northern Syria in recent months, but remain vulnerable to attack by the military's planes and helicopters - hence their strategy of trying to capture air bases such as the one at Taftanaz.


There was no word on whether the firing of a short-range ballistic missile inside Syria on Wednesday, reported by a NATO official, was linked to the fighting at Taftanaz.


NATO could not confirm the type of missile used, but the description fit the Scuds that are in the Syrian military's armory, the official added, describing the latest launch and similar ones last week as "reckless".


A NATO official said that since the start of December 2012, the alliance had detected at least 15 launches of unguided, short-range ballistic missile inside Syria.


Neither side has gained a clear military advantage in the war pitting mostly Sunni Muslim rebels against security forces dominated by Assad's minority, Shi'ite-linked Alawite sect.


The Observatory also reported fighting between rebels and troops in the Sayyida Zeinab area of Damascus, and air raids were reported in the capital's Maleiha area and eastern suburbs.


Despite some support from Sunni regional powers including Turkey, Saudi Arabia and Qatar, the rebels remain largely disorganized, fragmented and ill-equipped. Poor discipline, looting and insecurity in some insurgent-held areas have also eroded their support from civilians.


Turf wars between rebel units and with Kurdish groups have also beleaguered the armed opposition. On Thursday, a senior Islamist commander was assassinated near the border with Turkey, Syrian rebels and political opposition sources said.


Thaer al-Waqqas, northern commander of al-Farouq Brigades, had been suspected of involvement in the killing four months ago of a member of al-Nusra Front.


He was shot dead at a rebel position in the town of Sermin, a few kilometers from Turkey, the sources said.


(Additional reporting by Oliver Holmes, Mariam Karouny and Erika Solomon in Beirut, Steve Gutterman in Moscow, Khaled Yacoub Oweis in Amman and Mohammed Abbas in London; Editing by Alistair Lyon and Jason Webb)



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Is BlackBerry back? Strong early BlackBerry 10 demand could signal RIM comeback






After hitting a rough patch that seemed to last for most of 2012, Research In Motion (RIMM) may finally see the light at the end of the tunnel. RIM plans to unveil the finished version of its next-generation BlackBerry 10 platform at a press conference on January 30th, and at least one new smartphone is expected to be revealed during the event. Generating interest in BlackBerry 10 within the crowded global smartphone market will be no easy task for the struggling vendor, but if demand at top Canadian Rogers is any indication, RIM is off to a promising start.


[More from BGR: ‘Apple is done’ and Surface tablet is cool, according to teens]






In mid-December, Rogers began taking reservations for RIM’s first BlackBerry 10-powered handset. The carrier offered almost no information about the BlackBerry smartphone, which has not yet been announced, but asked subscribers interested in purchasing the device to register on the company’s website.


[More from BGR: iPhone 5 now available with unlimited service, no contract on Walmart’s $ 45 Straight Talk plan]


BGR approached Rogers on Thursday to see how subscriber response has been thus far.


“While we can’t release the total number of reservations we have received for the BlackBerry 10 all-touch device, we can say that customer interest is definitely strong and reservations continue daily,” a RIM spokesperson told BGR via email.


The strong response from Rogers subscribers despite being provided only with the knowledge that the device will feature an all-touch form factor and will run the BlackBerry 10 OS is a good sign for RIM.


The vendor has a number of difficult challenges ahead, and convincing current BlackBerry users to upgrade en masse is near the top of the list. Strong early demand at Rogers for RIM’s first BlackBerry 10 handset is clearly a positive sign in this regard, as most early reservations likely came from current BlackBerry subscribers.


This article was originally published on BGR.com


Wireless News Headlines – Yahoo! News




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Oscar's Most Memorable Moments

The nominations for the 85th Annual Academy Awards have been announced, providing the perfect opportunity to relive some of the greatest moments of Oscar's past, from the unexpected streaker running behind David Niven and Muhammad Ali surprising Rocky star Sylvester Stallone to Halle Berry's emotional Best Actress acceptance speech and Heath Ledger's posthumous Dark Knight honor.

Related: Stars React to Oscar Nominations

Hosted by Seth MacFarlane, the 85th Academy Awards will air live from Hollywood Sunday, February 24, 2013 on ABC.

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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 encouraging signs 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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Wall Street modestly higher as Alcoa beats revenue estimates

NEW YORK (Reuters) - Stocks edged up on Wednesday after Alcoa got the earnings season under way with better-than-expected revenue and an encouraging outlook for the year.


The market's rise came after two-days of declines, with few catalysts to give direction and investors fretting about the start of earnings season after the prior quarter's lackluster performance.


Alcoa Inc said late on Tuesday it expects global demand for aluminum to grow in 2013, though the company expressed concern about the impact on business from a confrontation in Washington over the U.S. budget. Shares of Alcoa, the largest U.S. aluminum producer, were trading flat in early afternoon at around $9.12, after earlier trading higher.


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.


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


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," calming the market a little, Dailey said.


The Dow Jones industrial average <.dji> was up 56.44 points, or 0.42 percent, at 13,385.29. The Standard & Poor's 500 Index <.spx> was up 3.31 points, or 0.23 percent, at 1,460.46. The Nasdaq Composite Index <.ixic> was up 11.50 points, or 0.37 percent, at 3,103.31.


Shares of Herbalife Ltd rose 3.5 percent to $39.70, following news that hedge fund manager Dan Loeb has taken a stake of more than 8 percent in the nutritional supplements seller, according to a regulatory filing. Herbalife has come under fire from prominent short-seller Bill Ackman, who has accused the company of being a "pyramid scheme," a charge it vehemently denies.


Facebook Inc shares rose above $30 per share for the first time since July, 2012. The social network sent out a media invitation on Tuesday saying, "Come and see what we're building." Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its Menlo Park, California, campus on January 15.


Among other companies reporting earnings, Constellation Brands , whose labels include Robert Mondavi and Ravenswood wines, reported higher profit and raised its forecast. The stock was down 0.8 percent at $35.74.


Apollo Group Inc slid more than 11 percent 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 at $18.63.


(Reporting by Angela Moon; Editing by Kenneth Barry and Dan Grebler)



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Venezuela court endorses Chavez inauguration delay


CARACAS (Reuters) - Venezuela's top court endorsed the postponement of Hugo Chavez's inauguration this week and ruled on Wednesday that the cancer-stricken president remained the South American OPEC nation's leader.


The 58-year-old socialist has not been seen in public nor heard from in almost a month following surgery in Cuba. The government says he is in a delicate condition and cannot attend Thursday's scheduled swearing-in for a new six-year term.


"Right now we cannot say when, how or where the president will be sworn in," Supreme Court Chief Judge Luisa Morales told a news conference.


"As president re-elect there is no interruption of performance of duties ... The inauguration can be carried out at a later date before the Supreme Court."


Both Chavez and his heir apparent, Vice President Nicolas Maduro, would remain in the roles after January 10, she added in a judgment quashing opposition appeals for a caretaker president to be named.


Government leaders insist Chavez is fulfilling his duties as head of state, even though official medical bulletins said he suffered multiple complications after the surgery, including a severe pulmonary infection, and has had trouble breathing.


It was his fourth operation since being diagnosed with an undisclosed type of cancer in June 2011.


The government has called for a massive rally outside the presidential palace on Thursday, and allied presidents including Uruguay's Jose Mujica and Bolivia's Evo Morales have confirmed they will visit Venezuela that day despite Chavez's absence.


The president's resignation or death would upend politics in the oil-rich nation, where he is revered by poor supporters thankful for his social largesse.


His critics denounce him as an autocrat who has squandered billions of dollars from crude sales while dashing the independence of state institutions.


(Reporting by Eyanir Chinea, Marianna Parraga and Diego Ore, Writing by Daniel Wallis, Editing by Andrew Cawthorne and Doina Chiacu)



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Why bother with a Facebook phone? Facebook’s app is already on 86% of iPhones and iPads






Rumors suggesting Facebook (FB) is working on a smartphone have resurfaced a number of times over the past year. Each time, Facebook denied the various claims. Facebook may indeed still be working on its own phone but as a new report from market research firm NPD Group shows, it probably doesn’t need to.


[More from BGR: Is Samsung the new Apple?]






Facebook makes money by gathering information about its users and serving targeted ads based on that data. Allowing users to update Facebook with fresh data as often as possible is obviously beneficial to the company, and smartphones present a terrific opportunity to give users access to their Facebook accounts from anywhere. The more people using Facebook’s mobile apps, the better, and Facebook’s smartphone penetration is absolutely staggering right now.


[More from BGR: iPhone 5 now available with unlimited service, no contract on Walmart’s $ 45 Straight Talk plan]


According to data published by NPD Group on Tuesday, Facebook’s iOS application was used by 86% of iPhone, iPad and iPod touch owners as of November 2012. On the Android platform, 70% of smartphone and tablet owners used Facebook’s mobile app in November.


No other third-party app even comes close to approaching Facebook’s mobile penetration. Google’s (GOOG) YouTube app is the next most popular third-party app on iOS with 40% penetration and Amazon’s (AMZN) mobile application is the second most popular third-party Android app with just 28% penetration.


So why would Facebook bother making its own phone?


One answer — perhaps the obvious one — is that an own-brand smartphone with custom software would give Facebook access to far more personal data than it can reach using third-party applications. Considering Facebook’s track record with matters relating to privacy, however, users may be reluctant to buy a Facebook phone.


In any case, a Facebook phone certainly doesn’t seem like a necessity for the time being. Instead, focusing on ways to effectively monetize the hundreds of millions of users who interact with Facebook from a smartphone or tablet each month might be a wiser use of resources.


This article was originally published on BGR.com


Social Media News Headlines – Yahoo! News




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Robin Roberts Speaks About Returning to 'Good Morning America'

For the first time since beginning her medical leave of absence from Good Morning America in September, Robin Roberts has addressed her much anticipated return to the ABC morning show.

In a message posted on her Facebook page, the GMA co-host also gave a positive health update to her fans. "Wonderful Wednesday... I received very encouraging news from my doctors. They are extremely pleased with my recovery. I am getting stronger every day," she wrote. "I'm humbled by the speculation of my return to GMA."

RELATED: Robin Roberts Reveals Hospital Stay for Virus

The 52-year-old Roberts added: "My family and I are grateful that GMA/ABC's only concern is my full recovery. It's a great comfort not to feel pressured and a BLESSING to know I have a job waiting for me. Unfortunately not everyone in my situation can say that. Let's keep them in our thoughts and prayers."

Her message states that details of her return to the show will be revealed on the air in the coming days. "I'm so excited! Thank you for your patience and continued prayers," she wrote.

RELATED: Robin Roberts Health Update: 'Doing Great'

Roberts took a leave of absence from GMA to undergo a bone marrow transplant on September 20 in an attempt to combat
Myelodysplastic syndrome (MDS), a rare blood disorder that she
contracted after undergoing treatment for breast cancer.

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Flu season has Boston declaring health emergency


BOSTON (AP) — Massachusetts public health officials are reporting 18 flu-related deaths in the state already this season, and Boston has declared a public health emergency.


A spokeswoman for Mayor Thomas Menino says the city is working with health care centers to offer free flu vaccines and also hopes to set up public locations where people can go for vaccinations. The city is reporting four flu-related deaths, all seniors.


Menino said Wednesday there have been about 700 confirmed cases of the flu in Boston so far this season, compared with 70 all of last season.


The Massachusetts Department of Public Health says the state is one of 29 reporting higher-than-normal rates of flu-like illnesses. The Centers for Disease Control and Prevention has warned of a harsh flu season, which usually peaks in midwinter.


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