Wall Street rises after Alcoa reports earnings

NEW YORK (Reuters) - Stocks rose on Wednesday, rebounding from two days of losses, as investors turned their focus to the first prominent results of the earnings season.

Stocks had retreated at the start of the week from the S&P 500's highest point in five years, hit last Friday, on worries about possible earnings weakness.

Shares of Alcoa Inc were down 0.5 percent to $9.08 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.

Herbalife Ltd stock rose 4.2 percent to $39.95 in its most active day of trading in the company's history after hedge fund manager Dan Loeb took a large stake in the nutritional supplements seller. Prominent short-seller Bill Ackman had previously accused the company of being a "pyramid scheme," which Herbalife has denied.

Traders have been cautious as the current quarter shaped up like the previous one, with companies recently lowering expectations, said James Dailey, portfolio manager of Team Asset Strategy Fund in Harrisburg, Pennsylvania. Lower expectations leave room for companies to surprise investors even if their results are not particularly strong.

"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 are expected to have grown by 1.9 percent, according to Thomson Reuters data.

The Dow Jones industrial average <.dji> gained 61.66 points, or 0.46 percent, to 13,390.51. The Standard & Poor's 500 Index <.spx> rose 3.87 points, or 0.27 percent, to 1,461.02. The Nasdaq Composite Index <.ixic> gained 14.00 points, or 0.45 percent, to 3,105.81.

Facebook Inc shares rose above $30 for the first time since July 2012, trading up 5.3 percent at $30.59. Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its headquarters next week.

Clearwire Corp shares jumped 7.2 percent to $3.13 after Dish Network bid $2.28 billion for the company, beating out a previous Sprint offer and setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.

Apollo Group Inc slid after heavier early losses, 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 7.8 percent at $19.32.

Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.10 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.

Advancing stocks outnumbered declining ones on the NYSE by 2,014 to 963, while on the Nasdaq advancers beat decliners 1,603 to 859.

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

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Q. and A. With Gen. Stanley McChrystal

Brendan Hoffman for The New York Times

Retired U.S. Army Gen. Stanley McChrystal in his office on Saturday.

WASHINGTON — As the Obama administration weighs how many troops to keep in Afghanistan after 2014, Gen. Stanley A. McChrystal cautioned that the United States still needs to keep forces there to help stabilize the country and urged a continued effort to advise the Afghan military that appears to be more extensive than the White House has in mind.

“If we allow Afghanistan to become completely unstable, Pakistan’s stability is really difficult,” the former American commander in Afghanistan said in a recent interview. “So I think there’s a geostrategic argument for it.”

General McChrystal offered his analysis of Afghanistan in the interview, which coincided with the release of his book “My Share of the Task: A Memoir,” published by Portfolio/Penguin.

The general, who is retired from the Army, was fired by President Obama from his post in 2010 after an article in Rolling Stone quoted him and his staff as making dismissive comments about the White House.

His comments come as Hamid Karzai, the Afghan president, is scheduled to begin a series of high-level meetings this week in Washington.

Regarding Afghanistan, some analysts have urged that the United States rely mainly on small numbers of commandos to carry out raids against Al Qaeda and other terrorist groups.

But General McChrystal asserted that such “counterterrorism” operations work best when they are coupled with “counterinsurgency” efforts to build up the ability of the host nation to govern and bolster the capability of its forces.

He also noted that to carry out commando raids, the American military needs bases, an intelligence network and arrangements for medical evacuation. “But if you don’t have the support of the Afghan people, if you are just in there doing what you want to do on their terrain, there’s no reason for them to be supportive of this,” he said. “We’d be fighting our own war on their territory, and they’re just not that interested in that.”

On troop numbers, General McChrystal declined to say how many troops the United States might need to keep in Afghanistan after 2014. (The White House is considering retaining a force of 3,000 to 9,000 troops, which would be complemented by a much smaller number of troops from other NATO nations).

General McChrystal agreed that the American force, currently 66,000 troops, should be substantially reduced. But he cautioned advised against retaining too small a force.

“We had 7,500 in Afghanistan in the summer of 2002 when I was first stationed there,” he said. “And 7,500 wouldn’t do much.”

An important question for the NATO mission after 2014 is what level of the Afghan military hierarchy would allied nations advise. Under the largest of the troop options under consideration by the White House, it is generally expected that NATO would advise seven regional Afghan Army corps and several regional Afghan police headquarters.

It is unlikely that NATO officers will advise Afghan battalions on the battlefield under this option as that would require many more advisers than the alliance is likely to muster.

But General McChrystal suggested that a more extensive advisery effort was needed to make the Afghan military more effective. “My personal tendency would be to get advisers a little bit lower than corps; I’d want them down to battalion level,” he said.

General McChrystal said he voted for Mr. Obama in 2008 but declined to say whom he had voted for in 2012. He would not discuss the Rolling Stone article in detail but insisted that he had intended no disrespect for the president or his aides.

After the article was published, General McChrystal said that he arrived at his fateful meeting with Mr. Obama on June 23, 2010, with his resignation in hand. The decision whether to accept it was up to the president.

Nick Hubbard contributed research.

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Samsung’s big push for 2013: content, corporates

LAS VEGAS (Reuters) – Samsung Electronics, the global leader in consumer smartphones, is planning two major thrusts in 2013: bulking up mobile content and moving faster into the corporate market dominated by Research in Motion.

The South Korean electronics company is investing in devices that enterprise users like corporations will endorse, with a higher level of security and reliability than general users need. In doing so, Samsung is capitalizing on doubts about the longevity of the BlackBerry as its Canadian maker struggles to revive growth.

Samsung’s corporate market ambitions have advanced as the Galaxy SIII, its popular flagship smartphone, won the requisite security certifications from companies, said Kevin Packingham, chief product officer for Samsung Mobile USA.

As RIM prepares to launch its next-generation BlackBerry 10 this quarter, the company’s future remains shaky. Corporate technology officers have begun to explore other smartphones, such as those by Apple Inc or Samsung.

“The enterprise space has suddenly become wide open. The RIM problems certainly fueled a lot of what the CIOs are going through, which is they want to get away from a lot of the proprietary solutions,” Packingham said in an interview at the Consumer Electronics Show in Las Vegas. “They want something that integrates what they are doing with their IT systems. Samsung is investing in that area.”

“It’s been a focus for a long time but the products have evolved now that we can really take advantage of that,” he added. “We knew we had to build more tech devices to successfully enter the enterprise market. What really turned that needle was that we had the power of the GS3.”

Samsung in 2012 overtook Apple as the world’s largest maker of smartphones, with a vastly larger selection of cellphones that attacked different price points and proved popular in emerging markets.

German business software maker SAP provides employees with Samsung’s Galaxy S III, the larger Galaxy Note and the Galaxy Tab, SAP Chief Information Officer Oliver Bussmann said in an interview.

“The one clear trend in enterprise is the shift away from one device to multiple devices,” said Bussman, who makes 10 devices available to SAP employees for official use. The list includes Apple’s iPhone and iPad, Nokia Lumia and RIM’s Blackberry.

“Because of the fragmentation of the Android software, we decided to go with just one Android company and we went with Samsung,” he added.

Now, the Korean hardware specialist is beefing up its software – an area in which it has lagged arch-enemy Apple, which revolutionized the mobile phone from 2007 with its content-rich, developer-led iPhone ecosystem.

Packingham sees an area ripe for innovation – combining the mobile phone with Samsung’s strength, the TV, which has barely evolved in the past decade.

Still, the U.S.-based executive remained cagey about Samsung’s plans for content and enterprise.

“You are going to see from content services, we’ll start to integrate what’s happening on the big screen, what’s happening on the tablet,” he said.

“We know now that people like to explore content that they are watching on TV while they have a tablet in their lap, and that’s going to be a big theme for this year.”

(Editing by Richard Chang)

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Kangaroo Gets Loose at Melbourne Airport

People Pets

01/08/2013 at 08:00 PM EST

Travelers passing through Australia's Melbourne Airport on Monday may have been greeted by an unexpected baggage handler.

At around 7 a.m., a 3-year-old eastern gray kangaroo was spotted in the airport's parking garage, where it hopped around for almost two hours, giving security officers the slip in the process.

Wildlife officer Manfred Zabinskas was then called in to catch the young animal, who was tranquilized in order to be transported to safety. Analyzing the critter, Zabinskas noted he had been away from his natural habitat for some time, and that the romp through the parking garage had done some damage to his feet. Prior to being re-released into the wild, the kangaroo will be looked at by a veterinarian.

This is the second time a kangaroo has paid a visit to the Melbourne Airport. Last October, another marsupial made its way up to the fifth floor of the parking garage before being spotted.

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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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Shares buoyed by Alcoa earnings, dollar gains on yen

LONDON (Reuters) - European shares rose slightly on Wednesday, ending two days of losses after aluminum giant Alcoa opened the U.S. earnings season with an optimistic outlook for world demand.

But with a light data day in prospect for Europe, featuring mainly German and Greek industrial output figures, and with European and UK central banks due to meet on Thursday, market movements were expected to be limited.

Shares in Alcoa, the largest aluminum producer in the United States, rose 1.3 percent in after-hours trade after it reported a fourth-quarter profit in line with Wall Street expectations and revenues which beat forecasts.

"Alcoa's results are generally considered a bellwether for the global economy and the fact that the aluminum giant forecasts higher demand in 2013 appeased investors," Stan Shamu, a market strategist at IG, wrote in a trading note.

The results lifted Asia stock markets and saw Europe's FTSE Eurofirst 300 index <.fteu3> gain around 0.4 percent in early trade. London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were up to 0.6 percent higher.

U.S. stock futures suggested a firmer Wall Street start with a 0.15 percent gain. <.l><.eu><.n/>

Corporate profits are expected to be higher than the third quarter's lackluster results, but analysts' estimates are down sharply from where they were in October.

"Expectations are quite low going into the earnings season as we saw a lot of downward guidance in the past few months. There is potential for an upside surprise to come through," Robert Parkes, equity strategist at HSBC Securities, said.

In European fixed income markets German Bund prices dipped slightly as investors prepared for the government's auction of 5 billion euros worth of new five year bonds following successful debt sales in Austria, the Netherlands and Ireland on Tuesday.

The dollar meanwhile was stronger against the Japanese yen on expectations of a much bolder monetary easing from the Bank of Japan at its next meeting later this month.

The U.S. currency was up 0.7 percent at 87.65 yen, having hit an intraday low near 86.83 yen in Tokyo, its lowest in nearly a week and a loss of about 1.9 percent from last Friday's peak of 88.48 yen, its highest since July 2010.

The euro held steady against the dollar at $1.3080,

Brent crude oil was also steady below $112 per barrel as the market awaited the latest trade data from China, the world's biggest energy consumer, due on Thursday.

"What we're seeing in the oil markets is the cautious sentiment playing up ahead of some key economic events this week," said Ker Chung Yang, senior investment analyst at Phillips Futures in Singapore.

However, iron ore jumped to its highest since October 2011, stretching a rally that has lifted prices by more than a third since December as China replenished stockpile's and supply in the spot market remained limited.

(Additional reporting by Atul Prakash; editing by Anna Willard)

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IHT Rendezvous: IHT Quick Read: Jan. 8

NEWS A battle over media censorship in China intensified Monday with an outpouring of support for journalists at a Guangzhou newspaper who are protesting what they called overbearing censorship by provincial officials. Edward Wong reports from Beijing. Also Monday, state media said China would start reforming its draconian system of re-education through labor, as Andrew Jacobs reports from Beijing.

The seemingly endless series of delays and debacles entangling the new Berlin airport claimed its first political victim on Monday, after the project’s planned opening was pushed back yet again. Melissa Eddy reports from Berlin.

Eric Schmidt, Google’s executive chairman, arrived in North Korea on Monday as part of a private delegation on what was billed as a humanitarian mission. Choe Sang-Hun reports from Seoul.

Imagine Walt Disney World with no entry turnstiles. Visitors would wear rubber bracelets encoded with credit card information, snapping up corn dogs and Mickey Mouse ears with a tap of the wrist. Disney plans to begin introducing a vacation management system called MyMagic+ that will drastically change the way its visitors do just about everything. Brooks Barnes reports from Orlando, Florida.

In the last days of November, Israel’s top military commanders called the Pentagon to discuss troubling intelligence that was showing up on satellite imagery: Syrian troops appeared to be mixing chemicals at two storage sites, probably the deadly nerve gas sarin, and filling dozens of 500-pounds bombs that could be loaded on airplanes. What followed, officials said, was a remarkable show of international cooperation over Syria’s civil war. Eric Schmitt and David E. Sanger report from Washington.

STYLE The fashions on the HBO series “Girls” may not be aspirational, but they are very much intentional. Where “Sex and the City” created a high-end, designer-driven fantasy, “Girls” strives above all else for authenticity. Karen Schwartz reports from New York.

SPORTS The ballot for induction into the Baseball Hall of Fame includes Barry Bonds, Roger Clemens and Sammy Sosa for the first time this year. It’s possible no one will get elected in 2013 because everyone who has played the game in the last few decades has been tainted by the steroids era, unfairly or not, Tyler Kepner writes.

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181,354 People on Twitter Think They’re Experts at Twitter

Do you tweet a lot? Do you post everything on Facebook? Do you #hashtag #complete #sentences #like #this? Do you describe yourself, variously, as a social media “maven”, “master”, “guru”, “freak”, “warrior”, “evangelist” or “veteran”? (Yes, a social media veteran. As if Tumblr were a deadly war you narrowly survived.) Well: you’ve got company! There are more than 181,000 such individuals on Twitter, people who adorn their profiles with credentials like “social media freak” and “social media wonk” and “social media authority.”

RELATED: Teens Hacking Their Friends’s Twitter Accounts Is All the Rage

B.L. Ochman at Advertising Age, whose heroic research produced the final tally, first noted the trend three years ago — when she recorded, among other distinctions, 68 “social media stars” and 79 “social media ninjas” on Twitter alone — and has been keeping track ever since. This isn’t just the stuff of legitimate Twitter news-breakers like Anthony DeRosa and Andy Carvin — Ohman provides a helpful breakdown of the terms she looked for — you know, like “social media warrior.” (We’re tempted to argue that such diligence makes Ochman something of a social media warrior herself.) Ochman also warns of using “guru” — a Sanskrit term — to describe oneself:

While a great many of these self-appointed gurus are no doubt taking the title with tongue firmly planted in cheek, the fact remains: a guru is something someone else calls you, not something you call yourself. Scratch that: let’s save “guru” (Sanskrit for “teacher”) for religious figures or at least people with real unique knowledge.

I’d argue, in fact, that “social media” and “guru” should never appear in the same sentence.

Whatever the term, social media seems to be a growth industry: there were only 15,740 “mavens” (or whatever) in 2009 — less than a tenth of those represented today.

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Justin Bartha Is Dating Trainer Lia Smith

01/07/2013 at 07:00 PM EST

Lia and Justin in Hawaii New Years Day

Pacific Coast News

Justin Bartha's "mystery woman" is in fact his girlfriend, trainer Lia Smith, a source reveals to PEOPLE.

The pair recently enjoyed a cozy trip to Smith's native Hawaii and were snapped basking in the sun on Maui on New Year's Day, which got people buzzing about her identity.

"They were very cute with each other," says an eyewitness. "They had their arms around each other and were kissing."

The couple also spent time with Smith's parents on Oahu. Bartha, who currently stars on The New Normal, was previously linked to Scarlett Johansson and dated Ashley Olsen for two years before breaking up in 2011.

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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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