Year-end Wii U sales steady, says Nintendo chief

KYOTO (Reuters) – Nintendo Co Ltd‘s year-end sales of its Wii U games console were steady, though not as strong as when its Wii predecessor was first launched, the Japanese game maker’s top executive told Reuters on Monday.

The company, which grew from making playing cards in the late 19th century into the blockbuster Super Mario video game series, is pinning its hopes on the Wii U after posting a first operating loss last year, as gamers ditch console games to play on smartphones and tablets.

“At the end of the Christmas season, it wasn’t as though stores in the U.S. had no Wii U left in stock, as it was when Wii was first sold in that popular boom. But sales are not bad, and I feel it’s selling steadily,” Nintendo President Satoru Iwata said in an interview.

Iwata gave no details on sales or forecasts, but said Nintendo needed to focus on developing attractive software for its 3DS handheld device to draw new users, and increase Wii U sales as it battles competition from popular mobile devices. The Wii U carries video content from Netflix Inc and Hulu, and has a dedicated social gaming network called Miiverse, which allows users to interact and share games tips.

Nintendo said in October it aimed to sell 5.5 million Wii U devices by end-March. Wii U, the successor to the blockbuster Wii machine, went on sale in the United States on November 18. The company later said it sold more than 400,000 of the video game consoles in the first week.

Nintendo sold 638,339 Wii U consoles in Japan between December 8 and 30, according to data from game magazine publisher Enterbrain. The company has sold nearly 100 million of the original Wii units since its launch in 2006.

Rival Microsoft Corp sold more than 750,000 of its Xbox 360 console during the Black Friday week in November – one of the busiest U.S. consumer shopping periods of the year, beating sales of both Sony Corp’s

DOUBLE CHALLENGE

Iwata acknowledged the challenge of producing two Wii U models at the same time, as most customers wanted the premium package, which sold out quickly in many places, while there was a glut of the slightly cheaper Wii U model on store shelves.

“It was the first time Nintendo released two models of the game console at the same time … and I believe there was a challenge with balancing this. Specifically, inventory levels for the premium, deluxe package was unbalanced as many people wanted that version and couldn’t find it,” he said.

Iwata noted a weaker yen would have little impact on Nintendo’s profits this fiscal year, but would positively impact its foreign denominated assets.

Nintendo’s Osaka-listed shares earlier ended down nearly 2.1 percent on Monday at 8,980 yen, and have fallen 15 percent since the Wii U was launched.

(Editing by Ian Geoghegan)

Gaming News Headlines – Yahoo! News

Title Post: Year-end Wii U sales steady, says Nintendo chief
Url Post: http://www.news.fluser.com/year-end-wii-u-sales-steady-says-nintendo-chief/
Link To Post : Year-end Wii U sales steady, says Nintendo chief
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Baby on the Way for Jensen Ackles

Mom & Babies
Celebrity Baby Blog

01/07/2013 at 06:15 PM ET

Mike Coppola/Getty

He’s hunted down demons, gone after ghosts and come face to face with ferocious monsters, but Jensen Ackles is diving into a whole new dimension: daddy duty.

The Supernatural star, 34, and his wife Danneel are expecting their first child later this year, his rep confirms to PEOPLE exclusively.

The actress, who most recently played Jenn on Retired at 35, will debut her baby bump when she accompanies Ackles — who plays Dean alongside new dad Jared Padalecki on the hit series — to the People’s Choice Awards Wednesday, where the dad-to-be is scheduled to present.

The couple tied the knot in 2010 in the actor’s hometown of Dallas, Texas.

– Anya Leon with reporting by Julie Jordan

Read More..

Organ donations fall in Germany after scandal

BERLIN (AP) — Organ donations have dropped sharply in Germany following a scandal over alleged corruption at several transplant clinics.

The German Foundation for Organ Transplantation says the number of organs donated fell almost 13 percent to 3,917 last year, the lowest figure in a decade.

Several German clinics are being investigated over allegations that doctors manipulated waiting lists to help some patients appear sicker than they were and so receive transplants sooner.

The foundation said Monday that the scandal had "massively shaken" the public's faith in the transplant system.

Some 12,000 people in Germany require organ transplants each year.

Read More..

Wall Street edges off five-year high, awaits earnings

NEW YORK (Reuters) - Stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits.

Shares of financial companies dipped after a group of major U.S. banks agreed to pay a total of $8.5 billion to end a government inquiry into faulty mortgage foreclosures. The KBW bank index <.bkx>, a gauge of U.S. bank stocks, was down 0.3 percent.

Other sectors were hit as well, most notably energy and utilities. The S&P 500 energy sector index <.gspe> fell 0.8 percent and the utilities sector <.gspu> was off 1.1 percent.

The day's decline came a session after the S&P 500 finished at a five-year high, boosted by a budget deal and strong economic data. The S&P 500 rose 4.6 percent last week, the best weekly gain in more than a year.

"It's a little bit of taking some risk off the table ahead of profit season, you're not going to see anything all that great" on earnings, said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.

Earnings are expected to be only slightly better than the third-quarter's lackluster results, and analysts' current estimates are down sharply from where they were in October. Fourth-quarter earnings growth is expected to come in at 2.8 percent, according to Thomson Reuters data.

Aluminum company Alcoa Inc begins the reporting season by announcing its results after Tuesday's market close. Alcoa shares fell 1.7 percent at $9.10.

The Dow Jones industrial average <.dji> dropped 50.92 points, or 0.38 percent, to 13,384.29. The Standard & Poor's 500 Index <.spx> fell 4.58 points, or 0.31 percent, to 1,461.89. The Nasdaq Composite Index <.ixic> lost 2.84 points, or 0.09 percent, to 3,098.81.

Ten mortgage servicers - including Bank of America , Citigroup , JPMorgan , and Wells Fargo - agreed on Monday to pay $8.5 billion to end a case-by-case review of foreclosures required by U.S. regulators.

In a separate case, Bank of America also announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans.

The bank also entered into agreements with Nationstar Mortgage Holdings and Walter Investment Management to sell about $306 billion of residential mortgage servicing rights.

Bank of America shares lost 0.2 percent at $12.09 while Nationstar Mortgage Holdings jumped 16.8 percent to $38.83.

Citigroup shares were up 0.09 percent to $42.47, and Wells Fargo shares fell 0.5 percent to $34.77.

"The financials probably have the wind behind them now with a lot of the regulations coming out ... the market has to absorb a lot of the gains, and for that reason there's a pullback from this level," said Warren West, principal at Greentree Brokerage Services in Philadelphia.

Shares of U.S. jet maker Boeing Co dropped 2 percent after a Boeing 787 Dreamliner aircraft with no passengers on board caught fire at Boston's Logan International Airport on Monday morning.

Amazon.com shares hit their highest price ever at $269.22 after Morgan Stanley raised is rating on the stock. Shares were up 3.6 percent at $268.46.

Video-streaming service Netflix Inc shares gained 3.4 percent to $99.20 after it said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.

Walt Disney Co stock fell 2.3 percent to $50.97. The company started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.

Volume was lower than average, as 4.78 billion shares were traded on the New York Stock Exchange, NYSE MKT and Nasdaq. This is well below the 2012 average of 6.42 billion per session.

Declining stocks outnumbered advancing ones on the NYSE by 1,629 to 1,363, while on the Nasdaq decliners beat advancers 1,438 to 1,066.

(Reporting By Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)

Read More..

Five accused in India rape case charged in court

NEW DELHI (Reuters) - Five men accused of raping and murdering an Indian student were read the charges in a near-empty courtroom on Monday after the judge cleared out lawyers for bickering over whether the men deserved a defense.

The 23-year-old physiotherapy student died two weeks after being gang-raped and beaten on a moving bus in New Delhi, then thrown bleeding onto the street. Protests followed, along with a fierce public debate over police failure to stem rampant violence against women.

With popular anger simmering against the five men and a teenager accused in the case, most lawyers in the district where the trial will be held refuse to represent them.

Before the men arrived for a pre-trial hearing on Monday, heckling broke out in a chamber packed with jostling lawyers, journalists and members of the public after two of the lawyers, Manohar Lal Sharma and V. K. Anand, offered to defend the men.

"We are living in a modern society," declared Lal Sharma, defending his decision. "We all are educated. Every accused, including those in brutal offences like this, has the legal right ... to defend themselves."

One woman lawyer prodded V. K. Anand in the chest, saying: "I'll see how you can represent the accused."

Unable to restore order, presiding magistrate Namrita Aggarwal ordered everyone to leave except the prosecution, and set police to guard the entrance.

She said the trial would now be held behind closed doors because of the sensitivity of the case.

FACES COVERED

Reuters video images showed the men stepping out of a blue police van that brought them from Tihar jail and walking, their faces covered, through a metal detector into the South Delhi court building.

The court was across the street from the cinema where the victim watched a film before she was attacked on her way home.

Aggarwal gave the men copies of the charges, which include murder, rape and abduction, a prosecutor in the case told Reuters.

Police have conducted extensive interrogations and say they have recorded confessions, even though the men have no lawyers.

If the men, most of them from a slum neighborhood, cannot arrange a defense, the court will offer them legal aid before the trial begins.

Two of them, Vinay Sharma and Pawan Gupta, have offered to give evidence against the others - Mukesh Kumar, Ram Singh and Akshay Thakura - possibly in return for a lighter sentence.

Mohan, describing what he called a heinous crime, said: "The five accused persons deserve not less than the death penalty."

The case has sharpened long-standing anger against the government and police for a perceived failure to protect women.

A male friend who was assaulted with the woman on December 16 said on Friday that passers-by left her unclothed and bleeding in the street for almost an hour and that, when police arrived, they spent a long time arguing about where to take them.

The woman lived for two weeks after her attack, dying in a Singapore hospital where she had been taken for treatment.

FAST-TRACK COURT

Aggarwal said the next hearing would be on January 10. The case is due to move later to another, fast-track court set up since the woman was attacked to help reduce a backlog of sex crime cases in Delhi.

Legal experts say the lack of representation for the five men may give grounds for appeal if they are found guilty. Convictions in similar cases have often been overturned years later.

Some legal experts have also warned that previous attempts to fast-track justice in India in some cases led to imperfect convictions that were later challenged.

The sixth member of the group alleged to have lured the student and a male friend into the private bus is under 18 and will be tried in a separate juvenile court.

The government is aiming to lower the age at which teenagers can be tried as adults, acknowledging public anger that the boy will face a maximum three-year sentence.

The victim was identified by a British newspaper at the weekend but Reuters has opted not to name her.

Indian law generally prohibits the identification of victims of sex crimes. The law is intended to protect victims' privacy and keep them out of the glare of media in a country where the social stigma associated with rape can be devastating.

The dead woman's father repeated on Monday that he wanted her identified and said he would be happy to release a photograph of her.

"We don't want to hide her identity. There is no reason for that. The only condition is it should not be misused," he told Reuters.

He said he was confident the trial would be quick and reiterated a call that the perpetrators be hanged.

(Writing by Frank Jack Daniel; Editing by Robert Birsel and Tom Pfeiffer)

Read More..

Handset makers scurry to join Year of the Phablet

SINGAPORE/HONG KONG (Reuters) – Call it phablet, phonelet, tweener or super smartphone, but the clunky mobile phone – closer in size to a tablet than the smartphone of a couple of years back – is here to stay.

A surprise hit of 2012, it is drawing in more users, more handset makers and is shaping the way we consume content.

“We expect 2013 to be the year of the phablet,” said Neil Mawston, UK-based executive director of Strategy Analytics‘ global wireless practice.

While Samsung Electronics Co Ltd has blazed a trail with its once-mocked Galaxy Note devices, now other manufacturers are scurrying to catch up.

At this week’s Consumer Electronics Show in Las Vegas, Chinese telecommunications giants ZTE Corp and Huawei Technologies Co Ltd will launch their own.

ZTE, which collaborated with Italy’s designer Stefano Giovannoni for the Nubia phablet, is scheduled to launch its 5-inch Grand S, while Huawei brings out the Ascend Mate, sporting a whopping 6.1-inch screen, making it only slightly smaller than Amazon’s Kindle Fire tablet.

“Users have realized that a nearly 5-inch screen smartphone isn’t such a cumbersome device,” said Joshua Flood, senior analyst at ABI Research in Britain.

Driving the phablet’s shift to the mainstream is a confluence of trends. Users prefer larger screens because they are consuming more visual content on mobile devices than before, and using them less for voice calls – the phablet’s weak spot.

And as WiFi-only tablets become more popular, so has interest among commuters in devices that combine the best of both, while on the move.

According to the latest Ericsson Mobility Report, the monthly data traffic for every smartphone will rise fourfold between now and 2018 to 1,900 megabytes.

The upshot is a market for phablets that will quadruple in value to $ 135 billion in three years, according to Barclays. Shipments of gadgets that are 5 inches or bigger in screen size will surge by nearly nine-fold to 228 million during the same period, though estimates vary because no one can agree on where smartphones stop and phablets start.

But that’s the point, some say.

“I think phone size was a preconceived notion based on voice usage,” said John Berns, a Singapore-based executive who works in the information technology industry. He recently upgraded his Note for the newer Note 2 and bought another for his girlfriend for Christmas. “Smaller was better until phones got smart, became visual.”

Samsung has been both the engine and beneficiary. While other players shipped devices with larger screens earlier – Dell Inc launched its Streak in 2010 – it was only when the Korean behemoth launched the Galaxy Note in late 2011, with its 5.3-inch screen, that users took an interest.

“The Streak was launched at a time when 3-inch smartphones were standard and the leap to a 5-inch Streak was a jump too far for consumers,” says Strategy Analytics’ Mawston.

“The Galaxy Note was launched when 4-inch smartphones had become commonplace, and the leap to 5-inch was no longer such a chasm.”

THE BIGGER, THE BETTER

Since then Samsung has bet big on bigger: its updated Note has a 5.5-inch screen and its flagship Galaxy S3 – the best-selling smartphone in the third quarter of 2012 – has a screen that puts it in the phablet category for some analysts.

Samsung accounted for around three quarters of all phablets shipped last year, according to Barclays’ Taipei-based analyst Dale Gai.

Samsung’s marketing heft has paved the way for others. LG Electronics Inc accounted for 14 percent of shipments in the third quarter of last year, according to Strategy Analytics.

HTC Corp’s 5-inch Butterfly – called the Droid DNA in the United States – has been selling well in places where Samsung is less dominant, according to Taipei-based Yuanta Securities analyst Dennis Chan. The first batch sold out soon after its December launch in Taiwan.

“I don’t think we can say that Samsung invented phablets,” said Lv Qianhao, head of handset strategy at ZTE. “But it did do a lot to promote this product category, which helped create tremendous demand.”

Phablets are also proving popular in emerging markets.

A poll of nearly 5,000 readers of Yahoo’s Indonesian website chose Samsung’s Galaxy Note 2 as their favorite mobile phone of 2012, ahead of the iPhone 5.

Kristian Tjahjono, a technology journalist who posted the poll, said phablets were a natural fit for Indonesians who liked tablets but also liked making phone calls.

But while those in such markets who can afford them are going for the high-end devices, the door is opening for cheaper models. Tjahjono pointed to Lenovo’s 5-inch S880, which has a lower resolution screen and sells for about $ 250, which is around a third of the price of Galaxy Note 2.

SWEET SPOT

Falling component prices will add to demand. The total cost of an upper-end phablet, its bill of materials, will likely fall to 2,000 yuan ($ 323) this year, says Gai from Barclays, and will halve within two years.

“One thousand yuan is a very sweet spot for China,” he said.

India is also a fan.

Vivek Deshpande, who manages global strategy for Shenzhen-based mobile phone maker Zopo, says that while the Indian and Chinese markets are different, they both share a common appetite for aspirational devices: phones big enough for their owners to show off. This is changing the direction of lower end players.

“Zopo’s primary focus is now on phablets,” said Deshpande.

Even Samsung is pushing its own creation downmarket: In Las Vegas it will unveil the Galaxy Grand, a 5-inch device that lacks some of the resolution and muscle of its bigger brethren but will be aimed at markets like India. There is a version offering a dual SIM slot, a popular feature for those wanting to arbitrage cheaper call and data plans.

As phablets slide into the mainstream, handset makers are trying to find ways of differentiating.

As well as hiring Italian designer Giovannoni better known for his minimalist, sleek bathrooms, ZTE also came up with an onscreen keypad that inclines to one side of the screen, depending on whether the user is left- or right-handed.

Samsung, however, not only has first mover advantage, it can also build on its expertise in display.

Barclay’s Gai says Samsung is expected to introduce a thinner, unbreakable AMOLED screen which will leave room for bigger batteries.

“That will put Samsung in good stead to still dominate the market,” he said. Despite pressure in China, Gai estimates Samsung’s share of smartphones with 5-inch or larger screens to fall only from 73 percent in 2012 to 58 percent in 2016, which is still the lion’s share.

By then consumers will see the phablet for what it is, says Horace Dediu, a Finnish analyst who runs a technology blog asymco.com. Its rise is part of a wider march of computing power into wherever we reside – the living room, the train, bed or work.

“It makes sense that we’re moving towards a time where we are served not by a computer or a netbook or a phone, but rather that we have these screens scattered around and available for us to play with,” he said. “In a way the phablet is not a bulky phone but a very delicate computer.”

(Editing by Emily Kaiser)

Tech News Headlines – Yahoo! News

Title Post: Handset makers scurry to join Year of the Phablet
Url Post: http://www.news.fluser.com/handset-makers-scurry-to-join-year-of-the-phablet/
Link To Post : Handset makers scurry to join Year of the Phablet
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Jordana Brewster Is 'Enamored' with the Idea of Having Twins

01/06/2013 at 05:00 PM EST

Jordana Brewster has babies on the brain – yes, you read that right: plural.

The Dallas star, 32, who has been married to movie producer Andrew Form since 2007, tells Latina she "definitely" wants two kids and is "enamored" by the idea of having twins.

"My dad was a twin, so it runs in the family," she explains. "Fingers crossed. We're thinking about having kids but I don't know when it'll happen. I feel very ready now."

When the couple does eventually expand their family, the children will be raised in a loving home.

"We FaceTime all of the time," Brewster says, of keeping the romance alive long distance. "We love that. There are times when I just say, 'I need to see you now.' And so we FaceTime a lot, or I surprise him and visit him or he does the same. It's super important … Couples shouldn't be apart for too long. We've been married for five years now and we know how important that is because otherwise you just lose touch with each other."

A big part of their bond has come from the way Form inspires his wife on a professional level.

"It's so amazing to have a husband in the business who can challenge me and we can talk about his work and my work and understand each other in that way," Brewster says. "I love getting his feedback and he likes getting mine. And of course, that has pushed me more to consider producing in the future."

And she's not just talking about babies!

Read More..

Your medical chart could include exercise minutes

CHICAGO (AP) — Roll up a sleeve for the blood pressure cuff. Stick out a wrist for the pulse-taking. Lift your tongue for the thermometer. Report how many minutes you are active or getting exercise.

Wait, what?

If the last item isn't part of the usual drill at your doctor's office, a movement is afoot to change that. One recent national survey indicated only a third of Americans said their doctors asked about or prescribed physical activity.

Kaiser Permanente, one of the nation's largest nonprofit health insurance plans, made a big push a few years ago to get its southern California doctors to ask patients about exercise. Since then, Kaiser has expanded the program across California and to several other states. Now almost 9 million patients are asked at every visit, and some other medical systems are doing it, too.

Here's how it works: During any routine check of vital signs, a nurse or medical assistant asks how many days a week the patient exercises and for how long. The number of minutes per week is posted along with other vitals at the top the medical chart. So it's among the first things the doctor sees.

"All we ask our physicians to do is to make a comment on it, like, 'Hey, good job,' or 'I noticed today that your blood pressure is too high and you're not doing any exercise. There's a connection there. We really need to start you walking 30 minutes a day,'" said Dr. Robert Sallis, a Kaiser family doctor. He hatched the vital sign idea as part of a larger initiative by doctors groups.

He said Kaiser doctors generally prescribe exercise first, instead of medication, and for many patients who follow through that's often all it takes.

It's a challenge to make progress. A study looking at the first year of Kaiser's effort showed more than a third of patients said they never exercise.

Sallis said some patients may not be aware that research shows physical inactivity is riskier than high blood pressure, obesity and other health risks people know they should avoid. As recently as November a government-led study concluded that people who routinely exercise live longer than others, even if they're overweight.

Zendi Solano, who works for Kaiser as a research assistant in Pasadena, Calif., says she always knew exercise was a good thing. But until about a year ago, when her Kaiser doctor started routinely measuring it, she "really didn't take it seriously."

She was obese, and in a family of diabetics, had elevated blood sugar. She sometimes did push-ups and other strength training but not anything very sustained or strenuous.

Solano, 34, decided to take up running and after a couple of months she was doing three miles. Then she began training for a half marathon — and ran that 13-mile race in May in less than three hours. She formed a running club with co-workers and now runs several miles a week. She also started eating smaller portions and buying more fruits and vegetables.

She is still overweight but has lost 30 pounds and her blood sugar is normal.

Her doctor praised the improvement at her last physical in June and Solano says the routine exercise checks are "a great reminder."

Kaiser began the program about three years ago after 2008 government guidelines recommended at least 2 1/2 hours of moderately vigorous exercise each week. That includes brisk walking, cycling, lawn-mowing — anything that gets you breathing a little harder than normal for at least 10 minutes at a time.

A recently published study of nearly 2 million people in Kaiser's southern California network found that less than a third met physical activity guidelines during the program's first year ending in March 2011. That's worse than results from national studies. But promoters of the vital signs effort think Kaiser's numbers are more realistic because people are more likely to tell their own doctors the truth.

Dr. Elizabeth Joy of Salt Lake City has created a nearly identical program and she expects 300 physicians in her Intermountain Healthcare network to be involved early this year.

"There are some real opportunities there to kind of shift patients' expectations about the value of physical activity on health," Joy said.

NorthShore University HealthSystem in Chicago's northern suburbs plans to start an exercise vital sign program this month, eventually involving about 200 primary care doctors.

Dr. Carrie Jaworski, a NorthShore family and sports medicine specialist, already asks patients about exercise. She said some of her diabetic patients have been able to cut back on their medicines after getting active.

Dr. William Dietz, an obesity expert who retired last year from the Centers for Disease Control and Prevention, said measuring a patient's exercise regardless of method is essential, but that "naming it as a vital sign kind of elevates it."

Figuring out how to get people to be more active is the important next step, he said, and could have a big effect in reducing medical costs.

___

Online:

Exercise: http://1.usa.gov/b6AkMa

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

Read More..

"Cliff" concerns give way to earnings focus

NEW YORK (Reuters) - Investors' "fiscal cliff" worries are likely to give way to more fundamental concerns, like earnings, as fourth-quarter reports get under way next week.

Financial results, which begin after the market closes on Tuesday with aluminum company Alcoa , are expected to be only slightly better than the third-quarter's lackluster results. As a warning sign, analyst current estimates are down sharply from what they were in October.

That could set stocks up for more volatility following a week of sharp gains that put the Standard & Poor's 500 index <.spx> on Friday at the highest close since December 31, 2007. The index also registered its biggest weekly percentage gain in more than a year.

Based on a Reuters analysis, Europe ranks among the chief concerns cited by companies that warned on fourth-quarter results. Uncertainty about the region and its weak economic outlook were cited by more than half of the 25 largest S&P 500 companies that issued warnings.

In the most recent earnings conference calls, macroeconomic worries were cited by 10 companies while the U.S. "fiscal cliff" was cited by at least nine as reasons for their earnings warnings.

"The number of things that could go wrong isn't so high, but the magnitude of how wrong they could go is what's worrisome," said Kurt Winters, senior portfolio manager for Whitebox Mutual Funds in Minneapolis.

Negative-to-positive guidance by S&P 500 companies for the fourth quarter was 3.6 to 1, the second worst since the third quarter of 2001, according to Thomson Reuters data.

U.S. lawmakers narrowly averted the "fiscal cliff" by coming to a last-minute agreement on a bill to avoid steep tax hikes this weeks -- driving the rally in stocks -- but the battle over further spending cuts is expected to resume in two months.

Investors also have seen a revival of worries about Europe's sovereign debt problems, with Moody's in November downgrading France's credit rating and debt crises looming for Spain and other countries.

"You have a recession in Europe as a base case. Europe is still the biggest trading partner with a lot of U.S. companies, and it's still a big chunk of global capital spending," said Adam Parker, chief U.S. equity strategist at Morgan Stanley in New York.

Among companies citing worries about Europe was eBay , whose chief financial officer, Bob Swan, spoke of "macro pressures from Europe" in the company's October earnings conference call.

REVENUE WORRIES

One of the biggest worries voiced about earnings has been whether companies will be able to continue to boost profit growth despite relatively weak revenue growth.

S&P 500 revenue fell 0.8 percent in the third quarter for the first decline since the third quarter of 2009, Thomson Reuters data showed. Earnings growth for the quarter was a paltry 0.1 percent after briefly dipping into negative territory.

On top of that, just 40 percent of S&P 500 companies beat revenue expectations in the third quarter, while 64.2 percent beat earnings estimates, the Thomson Reuters data showed.

For the fourth quarter, estimates are slightly better but are well off estimates for the quarter from just a few months earlier. S&P 500 earnings are expected to have risen 2.8 percent while revenue is expected to have gone up 1.9 percent.

Back in October, earnings growth for the fourth quarter was forecast up 9.9 percent.

In spite of the cautious outlooks, some analysts still see a good chance for earnings beats this reporting period.

"The thinking is you need top line growth for earnings to continue to expand, and we've seen the market defy that," said Mike Jackson, founder of Denver-based investment firm T3 Equity Labs.

Based on his analysis, energy, industrials and consumer discretionary are the S&P sectors most likely to beat earnings expectations in the upcoming season, while consumer staples, materials and utilities are the least likely to beat, Jackson said.

Sounding a positive note on Friday, drugmaker Eli Lilly and Co said it expects profit in 2013 to increase by more than Wall Street had been forecasting, primarily due to cost controls and improved productivity.

(Reporting By Caroline Valetkevitch; Editing by Kenneth Barry)

Read More..

Assad "peace plan" greeted with scorn by foes

BEIRUT (Reuters) - Syrian President Bashar al-Assad rejected peace talks with his enemies on Sunday in a defiant speech that his opponents described as a renewed declaration of war.

Although the speech was billed as the unveiling of a new peace plan, Assad offered no concessions and even appeared to harden many of his positions. He rallied Syrians for "a war to defend the nation" and disparaged the prospect of negotiations.

"We do not reject political dialogue ... but with whom should we hold a dialogue? With extremists who don't believe in any language but killing and terrorism?" Assad asked supporters who packed Damascus Opera House for his first speech since June.

"Should we speak to gangs recruited abroad that follow the orders of foreigners? Should we have official dialogue with a puppet made by the West, which has scripted its lines?"

It was his first public speech to an audience in six months. Since the last, rebels have reached the capital's outskirts.

George Sabra, vice president of the opposition National Coalition, told Reuters the peace plan Assad put at the heart of his speech did "not even deserve to be called an initiative":

"We should see it rather as a declaration that he will continue his war against the Syrian people," he said.

"The appropriate response is to continue to resist this unacceptable regime and for the Free Syrian Army to continue its work in liberating Syria until every inch of land is free."

The speech was seen by many as a response to U.N. mediator Lakhdar Brahimi, who has been meeting U.S. and Russian officials to try to narrow differences between Washington and Moscow over a peace plan. Brahimi also met Assad in Syria late last month.

"Lakhdar Brahimi must feel foolish after that Assad speech, where his diplomacy is dismissed as intolerable intervention," said Rana Kabbani, a Syrian analyst who supports the opposition.

The United States, European Union, Turkey and most Arab states have called on Assad to quit. Russia, which sells arms to and leases a naval base from Syria, says it backs a transition of power but that Assad's departure should not be a precondition for any talks.

REPETITIONS

Assad's foreign foes were scornful and dismissive of the speech. "His remarks are just repetitions of what he's said all along," said Ahmet Davutoglu, foreign minister of Syria's northern neighbor and former friend Turkey.

"It seems he's locked himself up in a room and only reads the intelligence reports presented to him."

The U.S. State Department said Assad's speech "is yet another attempt by the regime to cling to power and does nothing to advance the Syrian people's goal of a political transition".

"His initiative is detached from reality, undermines the efforts of Joint Special Representative Lakhdar Brahimi, and would only allow the regime to further perpetuate its bloody oppression of the Syrian people," said spokeswoman Victoria Nuland.

EU foreign affairs chief Catherine Ashton said Brussels would "look carefully if there is anything new in the speech, but we maintain our position that Assad has to step aside and allow for a political transition".

The 47-year-old Assad, tall and mustachioed, in a business suit and tie, spoke confidently for about an hour before a crowd of cheering loyalists, who occasionally interrupted him to shout and applaud, at one point raising their fists and chanting: "With blood and soul we sacrifice for you, oh Bashar!"

At the end of the speech, supporters rushed to the stage, mobbing him and shouting: "God, Syria and Bashar is enough!" as a smiling president waved and was escorted from the hall past a backdrop showing a Syrian flag made of pictures of people whom state television described as "martyrs" of the conflict so far.

"We are now in a state of war in every sense of the word," Assad said in the speech, broadcast on Syrian state television. "This war targets Syria using a handful of Syrians and many foreigners. Thus, this is a war to defend the nation."

Independent media are largely barred from Damascus.

Giving the speech in the opera house, in a part of central Damascus that has been hit by rebel attacks, could be intended as a show of strength by a leader whose public appearances have grown rarer as the rebellion has gathered force.

Critics saw irony in the venue: "Assad speech appropriately made in Opera House!" tweeted Rami Khouri, a commentator for Lebanon's Daily Star newspaper. "It was operatic in its other-worldly fantasy, unrelated to realities outside the building."

DEATHS

The United Nations says 60,000 people have been killed in the civil war, the longest and bloodiest of the conflicts to emerge in two years of revolts in Arab states.

Rebels now control much of the north and east of the country, a crescent of suburbs on the outskirts of the capital and the main border crossings with Turkey in the north.

But Assad's forces are still firmly in control of most of the densely populated southwest, the main north-south highway and the Mediterranean coast. The army also holds military bases throughout the country from which its helicopters and jets can strike rebel-held areas with impunity, making it impossible for the insurgents to consolidate their grip on territory they hold.

Assad, an eye doctor, has ruled since 2000, succeeding his late father Hafez, who had seized power in a 1970 coup.

The rebels are drawn mainly from Syria's Sunni Muslim majority, while Assad, a member of the Alawite sect related to Shi'ite Islam, is supported by some members of religious minorities who fear retribution if he falls.

The conflict has heightened confrontation in the Middle East between Shi'ite Iran and Sunni Arab rulers, particularly those in the Gulf who are allied with the West against Tehran.

The plan unveiled in Sunday's speech could hardly have been better designed to ensure its rejection by the opposition. Among its proposals: rebels would first be expected to halt operations before the army would cease fire, a certain non-starter.

Assad also repeatedly emphasized rebel links to al Qaeda and other Sunni Islamist radicals. Washington has also labeled one of the main rebel groups a terrorist organization and says it is linked to the network founded by Osama bin Laden.

Diplomacy has been largely irrelevant so far in the conflict, with Moscow vetoing U.N. resolutions against Assad.

U.N. mediator Brahimi has been trying to bridge the gap, meeting senior U.S. and Russian officials to discuss his own peace proposal, which does not explicitly mention Assad's fate.

National Coalition spokesman Walid Bunni said Assad's speech appeared timed to prevent a breakthrough in those talks, by taking a position that could not be reconciled with diplomacy.

"The talk by Brahimi and others that there could be a type of political solution being worked out has prompted him to come out and tell the others 'I won't accept a solution'," Bunni said, adding that Assad feared any deal would mean his downfall.

(Additional reporting by Suleiman al-Khalidi in Amman, Gulsen Solaker in Ankara and Tim Castle in London; Writing by Peter Graff; Editing by Alastair Macdonald and Kevin Liffey)

Read More..