Wall Street ends flat as investors pull back

NEW YORK (Reuters) - Stocks ended mostly flat on Wednesday, taking another pause in the recent rally that has driven the S&P 500 to five-year highs, as transportation and technology shares lost ground.

Transportation stocks were among the worst performers. Shares of CH Robinson Worldwide fell 9.7 percent to $60.50 and the stock was the biggest percentage loser on the Nasdaq 100 after the freight transport company posted a lower-than-expected adjusted quarterly profit.

Without a strong catalyst, the market could struggle to continue its rally, analysts said. The benchmark S&P 500 index has advanced 6 percent this year, reaching its highest since December 2007, while the Dow Jones industrial average <.dji> has risen above 14,000 recently.

Bank of America-Merrill Lynch analysts see a near-term pullback likely, based on strong equity inflows at the start of the year, said Dan Suzuki, the bank's equity strategist in New York.

"The fact that we've gone since November without seeing one, from a timing perspective, it wouldn't be a surprise to see one now."

With fourth-quarter earnings nearing an end, the market will be losing one of its big supports, said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago. "That's one thing that's been holding the market up," he said.

Shares of Time Warner Inc jumped 4.1 percent to $52.01 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in film, TV entertainment and publishing units.

The Dow Jones industrial average <.dji> was up 7.22 points, or 0.05 percent, at 13,986.52. The Standard & Poor's 500 Index <.spx> was up 0.83 points, or 0.05 percent, at 1,512.12. The Nasdaq Composite Index <.ixic> was down 3.10 points, or 0.10 percent, at 3,168.48.

Amazon.com shares, down 1.7 percent at $262.22, led the decline on the Nasdaq.

Also causing some strain on the market, investors have been speculating about leadership changes in Spain and Italy and watching for comments from European leaders, analysts said. European Central Bank policymakers are due to meet Thursday.

The Dow Jones Transportation average <.djt> was down 0.2 percent after hitting another record high on Tuesday. The average is up 10.7 percent for the year so far and has made a series of new highs since mid-January.

According to Thomson Reuters data, of 301 companies in the S&P 500 that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.

Fourth-quarter earnings for S&P 500 companies are estimated to have risen 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

Walt Disney Co's stock was up 0.4 percent at $54.52, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.

Volume was roughly 6.5 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by roughly 17 to 12 and on the Nasdaq by about 13 to 11.

(Editing by Bernadette Baum, Kenneth Barry and Nick Zieminski)

Read More..

Iran's Ahmadinejad kissed and scolded in Egypt

CAIRO (Reuters) - Mahmoud Ahmadinejad was both kissed and scolded on Tuesday when he began the first visit to Egypt by an Iranian president since Tehran's 1979 Islamic revolution.

The trip was meant to underline a thaw in relations since Egyptians elected an Islamist head of state, President Mohamed Mursi, last June. But it also highlighted deep theological and geopolitical differences.

Mursi, a member of the Sunni Muslim Brotherhood, kissed Ahmadinejad after he landed at Cairo airport and gave him a red carpet reception with military honors. Ahmadinejad beamed as he shook hands with waiting dignitaries.

But the Shi'ite Iranian leader received a stiff rebuke when he met Egypt's leading Sunni Muslim scholar later at Cairo's historic al-Azhar mosque and university.

Sheikh Ahmed al-Tayeb, head of the 1,000-year-old seat of religious learning, urged Iran to refrain from interfering in Gulf Arab states, to recognize Bahrain as a "sisterly Arab nation" and rejected the extension of Shi'ite Muslim influence in Sunni countries, a statement from al-Azhar said.

Visiting Cairo to attend an Islamic summit that begins on Wednesday, Ahmadinejad told a news conference he hoped his trip would be "a new starting point in relations between us".

However, a senior cleric from the Egyptian seminary, Hassan al-Shafai, who appeared alongside him, said the meeting had degenerated into an exchange of theological differences.

"There ensued some misunderstandings on certain issues that could have an effect on the cultural, political and social climate of both countries," Shafai said.

"The issues were such that the grand sheikh saw that the meeting ... did not serve the desired purpose."

The visit would have been unthinkable during the rule of Hosni Mubarak, the military-backed autocrat who preserved Egypt's peace treaty with Israel during his 30 years in power and deepened ties between Cairo and the West.

"The political geography of the region will change if Iran and Egypt take a unified position on the Palestinian question," Ahmadinejad said in an interview with Al Mayadeen, a Beirut-based TV station, on the eve of his trip.

He said he wanted to visit the Gaza Strip, the Palestinian territory which neighbors Egypt to the east and is run by the Islamist movement Hamas. "If they allow it, I would go to Gaza to visit the people," Ahmadinejad said.

Analysts doubt that the historic changes that brought Mursi to power will result in a full restoration of diplomatic ties between states whose relations were broken off after the conclusion of Egypt's peace treaty with Israel in 1979.

OBSTACLES TO FULL TIES

At the airport the two leaders discussed ways of improving relations and resolving the Syrian crisis "without resorting to military intervention", Egyptian state media reported.

Egypt is concerned by Iran's support for Syrian President Bashar al-Assad, who is trying to crush an uprising inspired by the revolt that swept Mubarak from power two years ago. Egypt's overwhelmingly Sunni Muslim population is broadly supportive of the uprising against Assad's Alawite-led administration.

Egyptian Foreign Minister Mohamed Kamel Amr sought to reassure Gulf Arab allies - that are supporting Cairo's battered state finances and are deeply suspicious of Iran - that Egypt would not jeopardize their security.

"The security of the Gulf states is the security of Egypt," he said in remarks reported by the official MENA news agency.

Mursi wants to preserve ties with the United States, the source of $1.3 billion in aid each year to the influential Egyptian military.

"The restoration of full relations with Iran in this period is difficult, despite the warmth in ties ... because of many problems including the Syrian crisis and Cairo's links with the Gulf states, Israel and the United States," said one former Egyptian diplomat.

Iranian Foreign Minister Ali Akbar Salehi said he was optimistic that ties could grow closer.

"We are gradually improving. We have to be a little bit patient. I'm very hopeful about the expansion of the bilateral relationship," he told Reuters. Asked where he saw room for closer ties, he said: "Trade and economics."

Egypt and Iran have taken opposite courses since the late 1970s. Egypt, under Mubarak's predecessor Anwar Sadat, concluded a peace treaty with Israel in 1979 and became a close ally of the United States and Europe. Iran from 1979 turned into a center of opposition to Western influence in the Middle East.

Symbolically, Iran named a street in Tehran after the Islamist who led the 1981 assassination of Sadat.

Egypt gave asylum and a state funeral to Iran's exiled Shah Reza Pahlavi, who was overthrown in the 1979 Iranian revolution. He is buried in a mosque beside Cairo's mediaeval Citadel alongside his ex-brother-in-law, Egypt's last king, Farouk.

(Additional reporting by Ayman Samir, Marwa Awad and Alexander Diadosz; Writing by Paul Taylor and Tom Perry; Editing by Andrew Roche and Robin Pomeroy)

Read More..

Jennifer Lawrence, Anne Hathaway & More Share Oscar Dress Hints

By Alex Apatoff

02/05/2013 at 04:30 PM EST

Clockwise from top left: Jennifer Lawrence, Anne Hathaway, Jessica Chastain and Amy Adams

Splash News Online; PR Photos; Getty; WireImage

The countdown to the Academy Awards has officially begun, and so has the buzz around what the nominees will be wearing.

Nominated actresses shared their gown plans with reporters at a Beverly Hills luncheon in their honor Monday.

Though Jennifer Lawrence joked, "I'm going to wear sweatpants," it turns out just the opposite is true. "Last time was comfort. This year, I'm like, 'Suck it up, wear a corset,'" she said. "I am going to go for fashion this time."

Last year, before donning her skintight red Calvin Klein Collection number, "I ate a Philly cheesesteak and fries, and I was like 'This is definitely going to help,'" she said. "It didn't, 'cause I had to double-Spanx it."

Another star eyeing extra Spanx? Anne Hathaway, who said she couldn't start preparing for a very important reason: "It was the Super Bowl! I couldn't think about dresses with all that delicious fried food around!"

Though she did say she's looking at some "cool options," let's hope they're all more drama-free than her Giambattista Valli SAG dress, which she revealed had a broken zipper – but her "magician" stylist made it work anyway.

The Master's Amy Adams was tight-lipped about her pick for the Oscars, allowing only that it will be "a dress! No girl ever tells you. Has any girl ever gotten up here and said, 'I'm wearing this designer and it will be this color?' " she teased.

But Jessica Chastain was a bit more forthcoming about her plans, saying, "I'm going to go for something that's perhaps colorful."

Her reasoning: "Most little girls dream about their wedding dresses, but I always dreamed about my Oscar dress – maybe because I like color!" Also on her wish list for the gown: "I love fashion that celebrates a woman's body [and] maybe is a throwback to the glamour of Old Hollywood, that silhouette, but somehow making it modern."

• Reporting by MELODY CHIU

Read More..

Critics seek to delay NYC sugary drinks size limit

NEW YORK (AP) — Opponents are pressing to delay enforcement of the city's novel plan to crack down on supersized, sugary drinks, saying businesses shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.

With the rule set to take effect March 12, beverage industry, restaurant and other business groups have asked a judge to put it on hold at least until there's a ruling on their lawsuit seeking to block it altogether. The measure would bar many eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces.

"It would be a tremendous waste of expense, time, and effort for our members to incur all of the harm and costs associated with the ban if this court decides that the ban is illegal," Chong Sik Le, president of the New York Korean-American Grocers Association, said in court papers filed Friday.

City lawyers are fighting the lawsuit and oppose postponing the restriction, which the city Board of Health approved in September. They said Tuesday they expect to prevail.

"The obesity epidemic kills nearly 6,000 New Yorkers each year. We see no reason to delay the Board of Health's reasonable and legal actions to combat this major, growing problem," Mark Muschenheim, a city attorney, said in a statement.

Another city lawyer, Thomas Merrill, has said officials believe businesses have had enough time to get ready for the new rule. He has noted that the city doesn't plan to seek fines until June.

Mayor Michael Bloomberg and other city officials see the first-of-its-kind limit as a coup for public health. The city's obesity rate is rising, and studies have linked sugary drinks to weight gain, they note.

"This is the biggest step a city has taken to curb obesity," Bloomberg said when the measure passed.

Soda makers and other critics view the rule as an unwarranted intrusion into people's dietary choices and an unfair, uneven burden on business. The restriction won't apply at supermarkets and many convenience stores because the city doesn't regulate them.

While the dispute plays out in court, "the impacted businesses would like some more certainty on when and how they might need to adjust operations," American Beverage Industry spokesman Christopher Gindlesperger said Tuesday.

Those adjustments are expected to cost the association's members about $600,000 in labeling and other expenses for bottles, Vice President Mike Redman said in court papers. Reconfiguring "16-ounce" cups that are actually made slightly bigger, to leave room at the top, is expected to take cup manufacturers three months to a year and cost them anywhere from more than $100,000 to several millions of dollars, Foodservice Packaging Institute President Lynn Dyer said in court documents.

Movie theaters, meanwhile, are concerned because beverages account for more than 20 percent of their overall profits and about 98 percent of soda sales are in containers greater than 16 ounces, according to Robert Sunshine, executive director of the National Association of Theatre Owners of New York State.

___

Follow Jennifer Peltz at http://twitter.com/jennpeltz

Read More..

Wall Street bounces back after sell-off; results a boost

NEW YORK (Reuters) - Stocks climbed on Tuesday, recovering a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture.

Dell Inc's stock rose after the world's No. 3 computer maker agreed to be taken private in a $24.4 billion deal, the largest leveraged buyout since the 2008-2009 financial crisis. The stock gained 1.1 percent to $13.42.

All 10 S&P sectors were higher, and the S&P 500 and Nasdaq gained more than 1 percent.

The market's bounce follows a sell-off on Monday that gave the S&P 500 its biggest percentage decline since mid-November. The benchmark remains up 6 percent since the start of the year and is less than 4 percent away from its all-time closing high of 1,565.15 from October 2007.

Analysts said fourth-quarter results have been among factors helping to boost stocks. On Tuesday, Archer Daniels Midland reported revenue and adjusted fourth-quarter earnings that beat expectations, boosted by strong global demand for oilseeds. Shares rose 3.3 percent to $29.38.

"There's not a huge upside surprise by any means, but we're definitely seeing slightly better-than-expected earnings overall," said Bryant Evans, portfolio manager at Cozad Asset Management, in Champaign, Illinois.

The Dow Jones industrial average <.dji> was up 99.22 points, or 0.71 percent, at 13,979.30. The Standard & Poor's 500 Index <.spx> was up 15.58 points, or 1.04 percent, at 1,511.29. The Nasdaq Composite Index <.ixic> was up 40.41 points, or 1.29 percent, at 3,171.58.

The market shot higher at the start of the year after U.S. lawmakers were able to come to a last-minute agreement to avoid a national "fiscal cliff," but questions on spending cuts remain.

President Barack Obama on Tuesday urged Congress to pass a small package of spending cuts and tax reforms. Though the plan was quickly rebuffed by Republican leaders, investors are looking for an agreement.

"I think there's some hopefulness out there that a reasonable compromise will be made," Evans said.

Also in earnings, Estée Lauder Cos Inc reported a higher quarterly profit and raised its full-year profit forecast. The stock rose 6 percent to $64.71.

With results in from more than half of the S&P 500 companies, 69 percent have beaten profit expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters. Sixty-six percent of companies have beaten on revenue.

Fourth-quarter earnings for S&P 500 companies are expected to rise 4.5 percent, according to the data, above the 1.9 percent forecast at the start of earnings season.

On the down side, McGraw-Hill shares slumped 10.7 percent to $44.92 after the U.S. Justice Department filed a civil lawsuit seeking $5 billion over mortgage bond ratings. Standard & Poor's, a McGraw Hill unit, was accused of inflating ratings and understating risk out of a desire to gain more business from investment banks.

On Monday, McGraw-Hill stock suffered its worst one-day decline since the 1987 market crash.

Volume was roughly 6.7 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by nearly 11 to 4 and on the Nasdaq by about 3 to 1.

(Editing by Kenneth Barry and Nick Zieminski)

Read More..

Second-generation iPad mini could pack a display with 324 pixels per inch

Apple (AAPL) may be about to make up for delivering a disappointingly low resolution for its first-generation iPad mini display. BrightWire reports that supply chain sources have told Chinese website My Drivers that the next-generation iPad mini will indeed feature a 7.9-inch Retina display with a resolution of 2048 x 1536 pixels, or 324 pixels per inch. For comparison, consider that the original iPad mini delivered a resolution of just 163 pixels per inch, less than both the Amazon (AMZN) Kindle Fire HD and the Google (GOOG) Nexus 7, which both featured displays with resolutions of 216 pixels per inch. BrightWire’s report also backs up earlier rumors we’ve heard about Apple choosing AU Optronics to make an HD Retina display for its next-generation iPad mini.

[More from BGR: iOS 6.1 untethered jailbreak now available for download, compatible with iPhone 5 and iPad mini]

This article was originally published on BGR.com

Gadgets News Headlines – Yahoo! News

Title Post: Second-generation iPad mini could pack a display with 324 pixels per inch
Url Post: http://www.news.fluser.com/second-generation-ipad-mini-could-pack-a-display-with-324-pixels-per-inch/
Link To Post : Second-generation iPad mini could pack a display with 324 pixels per inch
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..

Sean Lowe: Three Reasons He Makes The Bachelor Special

TV Watch

The Bachelor

By Rennie Dyball

02/04/2013 at 06:00 PM EST

What is it about this season of The Bachelor?

For the past few installations, I've watched with just a passing interest, armed with my iPad so I can enjoy other diversions during the boring or painfully awkward Bachelor and Bachelorette dates.

The TV franchise has been around for so long that I was almost watching out of obligation ... I've spent so much of my life following these people and their televised quests for love that I've got to keep up for tradition's sake alone.

But this season is different. I'm excited for Monday nights and find myself watching without any outside distractions. I've had several girlfriends tell me they feel the same way – for some, after nearly deciding to stop watching the series entirely, they're excited about it all over again.

We've got Sean Lowe to thank for that.

Here's why I think the 29-year-old is a rare breed of Bachelor who's breathed new life into the long-running series:

1. He Seems Like a Truly Genuine Guy
In all honesty, Sean didn't wow me on Emily Maynard's season of The Bachelorette. I found him to be a little dull (sorry, Sean!) and not entirely believable. So I didn't expect to be thrilled by his turn handing out the roses. But week after week, I find myself really believing in his assertions that he's look for lasting love.

I mean, really, don't they all say that? But from night one, he's been straight up with his bachelorettes about his feelings, and he's just got that intangible "something" about him – you can't help but root for this guy. Even my often-jaded colleagues who've met him in person were impressed!

2. He's Easily Smitten
Maybe this makes him more endearing, or maybe it's indicative of the dramatics to come when he'll need to whittle down the list. Either way, I'm so tickled by the fact that after the majority of dates, Sean is just smitten by a new woman. So far, he seems to be falling for AshLee, Desiree, Lesley, Lindsay, Sarah, Selma and, of course, Tierra.

It's refreshing and sweet, not to mention believable ... What guy wouldn't fall for a group of beautiful women on budget-less dates?

3. He's Got Quite the Cast of Costars
Bravo to the casting department on this one. The mix of women vying for Sean's affections is diverse, dramatic and destined for medical emergencies. (Chris Harrison promises more ambulances this season!)

And did anyone else find last week's kiss-less date with Selma incredibly hot? They didn't need to get their lips involved for viewers to feel the intense heat between them. So this week, call me a marketer's dream: Two Bachelor episodes in the next two nights? Sold. Thanks, Sean.

This week's double episode of The Bachelor will air Monday (8 p.m. ET) and Tuesday at (9 p.m. ET) on ABC.

Read More..

Bullying study: It does get better for gay teens

CHICAGO (AP) — It really does get better for gay and bisexual teens when it comes to being bullied, although young gay men have it worse than their lesbian peers, according to the first long-term scientific evidence on how the problem changes over time.

The seven-year study involved more than 4,000 teens in England who were questioned yearly through 2010, until they were 19 and 20 years old. At the start, just over half of the 187 gay, lesbian and bisexual teens said they had been bullied; by 2010 that dropped to 9 percent of gay and bisexual boys and 6 percent of lesbian and bisexual girls.

The researchers said the same results likely would be found in the United States.

In both countries, a "sea change" in cultural acceptance of gays and growing intolerance for bullying occurred during the study years, which partly explains the results, said study co-author Ian Rivers, a psychologist and professor of human development at Brunel University in London.

That includes a government mandate in England that schools work to prevent bullying, and changes in the United States permitting same-sex marriage in several states.

In 2010, syndicated columnist Dan Savage launched the "It Gets Better" video project to encourage bullied gay teens. It was prompted by widely publicized suicides of young gays, and includes videos from politicians and celebrities.

"Bullying tends to decline with age regardless of sexual orientation and gender," and the study confirms that, said co-author Joseph Robinson, a researcher and assistant professor of educational psychology at the University of Illinois in Urbana-Champaign. "In absolute terms, this would suggest that yes, it gets better."

The study appears online Monday in the journal Pediatrics.

Eliza Byard, executive director of the Gay, Lesbian & Straight Education Network, said the results mirror surveys by her anti-bullying advocacy group that show bullying is more common in U.S. middle schools than in high schools.

But the researchers said their results show the situation is more nuanced for young gay men.

In the first years of the study, gay boys and girls were almost twice as likely to be bullied as their straight peers. By the last year, bullying dropped overall and was at about the same level for lesbians and straight girls. But the difference between men got worse by ages 19 and 20, with gay young men almost four times more likely than their straight peers to be bullied.

The mixed results for young gay men may reflect the fact that masculine tendencies in girls and women are more culturally acceptable than femininity in boys and men, Robinson said.

Savage, who was not involved in the study, agreed.

"A lot of the disgust that people feel when you bring up homosexuality ... centers around gay male sexuality," Savage said. "There's more of a comfort level" around gay women, he said.

Kendall Johnson, 21, a junior theater major at the University of Illinois, said he was bullied for being gay in high school, mostly when he brought boyfriends to school dances or football games.

"One year at prom, I had a guy tell us that we were disgusting and he didn't want to see us dancing anymore," Johnson said. A football player and the president of the drama club intervened on his behalf, he recalled.

Johnson hasn't been bullied in college, but he said that's partly because he hangs out with the theater crowd and avoids the fraternity scene. Still, he agreed, that it generally gets better for gays as they mature.

"As you grow older, you become more accepting of yourself," Johnson said.

___

Online:

Pediatrics: http://www.pediatrics.org

It Gets Better: http://www.itgetsbetter.org

___

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

Read More..

S&P 500 posts worst day since November; McGraw-Hill shares sink

NEW YORK (Reuters) - Stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.

Shares of McGraw-Hill shed 13.8 percent to $50.30, their worst daily percentage decline since the October 1987 market crash, after news the U.S. Justice Department plans to sue Standard & Poor's, a unit of McGraw-Hill, over its mortgage bond ratings. It would be the first such federal action against a credit rating agency related to the recent financial crisis.

Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades, and all 10 S&P 500 sectors were lower. The losses follow Friday's market climb that left the S&P 500 at a five-year high and the Dow above 14,000.

"The market is extended and due for a pullback. I think people are looking for an excuse to make sales, and there (is) the concern coming from Europe," said Michael James, senior trader at Wedbush Morgan in Los Angeles.

Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.

Adding to market pressure, data from the U.S. Commerce Department showed overall factory orders for December were below economists' expectations.

The Dow Jones industrial average <.dji> was down 129.71 points, or 0.93 percent, at 13,880.08. The Standard & Poor's 500 Index <.spx> was down 17.46 points, or 1.15 percent, at 1,495.71. The Nasdaq Composite Index <.ixic> was down 47.93 points, or 1.51 percent, at 3,131.17.

With 18.7 billion shares traded, it was the busiest day on record for McGraw-Hill shares. Shares of ratings agency Moody's Corp fell 10.7 percent at $49.45, their worst one-day drop since August 2011.

The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.

The S&P index remains up about 5 percent for the year, with nearly half of the gains coming after U.S. legislators temporarily sidestepped the "fiscal cliff" of automatic tax increases and spending cuts.

The CBOE Volatility index VIX <.vix>, Wall Street's so-called fear gauge, jumped 13.7 percent.

Chevron dipped 1.1 percent to $115.20 after UBS cut its rating to neutral, while Wal-Mart Stores Inc shed 1.2 percent to $69.63 after JP Morgan lowered its rating on the world's largest retailer and reduced its price target.

Shares of household products company Clorox rose 0.7 percent to $79.72 after quarterly profit beat analysts' estimates as a severe flu season boosted sales of disinfecting wipes.

According to Thomson Reuters data, of the 256 companies in the S&P 500 that have reported earnings through Monday morning, 68.4 percent have reported earnings above analyst expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.

S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent forecast on October 1.

In deal news, software maker Oracle Corp agreed to buy network equipment company Acme Packet Inc for $1.7 billion net of cash. Shares of Oracle were down 3 percent at $35.13 while Acme Packet shot up 23.7 percent to $29.59.

Shares of Herbalife Ltd ended up 1.3 percent at $35.54, recovering its losses ahead of the close. The New York Post reported the seller of weight loss products is facing a probe by the Federal Trade Commission.

Volume was roughly 6.3 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Decliners outpaced advancers on the NYSE by nearly 4 to 1 and on the Nasdaq also by about 4 to 1.

(Editing by Kenneth Barry and Nick Zieminski)

Read More..

Iran hedges on nuclear talks with six powers or U.S.

MUNICH (Reuters) - Iran said on Sunday it was open to a U.S. offer of direct talks on its nuclear program and that six world powers had suggested a new round of nuclear negotiations this month, but without committing itself to either proposal.

Diplomatic efforts to resolve a dispute over Iran's nuclear program, which Tehran says is peaceful but the West suspects is intended to give Iran the capability to build a nuclear bomb, have been all but deadlocked for years, while Iran has continued to announce advances in the program.

Iranian Foreign Minister Ali Akbar Salehi said a suggestion on Saturday by U.S. Vice President Joe Biden that Washington was ready for direct talks with Iran if Tehran was serious about negotiations was a "step forward".

"We take these statements with positive consideration. I think this is a step forward but ... each time we have come and negotiated it was the other side unfortunately who did not heed ... its commitment," Salehi said at the Munich Security Conference where Biden made his overture a day earlier.

He also complained to Iran's English-language Press TV of "other contradictory signals", pointing to the rhetoric of "keeping all options on the table" used by U.S. officials to indicate they are willing to use force to keep Iran from obtaining a nuclear weapon.

"This does not go along with this gesture (of talks) so we will have to wait a little bit longer and see if they are really faithful this time," Salehi said.

Iran is under a tightening web of sanctions. Israel has also hinted it may strike if diplomacy and international sanctions fail to curb Iran's nuclear drive.

In Washington, Army General Martin Dempsey, the top U.S. military officer, said in an interview broadcast on Sunday that the United States has the capability to stop any Iranian effort to build nuclear weapons, but Iranian "intentions have to be influenced through other means."

Dempsey, chairman of the Joint Chiefs of Staff, made his comments on NBC's program "Meet the Press," speaking alongside outgoing Defense Secretary Leon Panetta.

Panetta said current U.S. intelligence indicated that Iranian leaders have not made a decision to proceed with the development of a nuclear weapon.

"But every indication is they want to continue to increase their nuclear capability," he said. "And that's a concern. And that's what we're asking them to stop doing."

The new U.S. secretary of state, John Kerry, has said he will give diplomacy every chance of solving the Iran standoff.

THE BEST CHANCE

With six-power talks making little progress, some experts say talks between Tehran and Washington could be the best chance, perhaps after Iran has elected a new president in June.

Negotiations between Iran and the six powers - Russia, China, the United States, Britain, France and Germany - have been deadlocked since a meeting last June.

EU officials have accused Iran of dragging its feet in weeks of haggling over the date and venue for new talks.

Salehi said he had "good news", having heard that the six powers would meet in Kazakhstan on February 25.

A spokesman for EU foreign policy chief Catherine Ashton, who coordinates the efforts of the six powers, confirmed that she had proposed talks in the week of February 25 but noted that Iran had not yet accepted.

Kazakhstan said it was ready to host the talks in either Astana or Almaty.

Salehi said Iran had "never pulled back" from the stuttering negotiations with the six powers. "We still are very hopeful. There are two packages, one package from Iran with five steps and the other package from the (six powers) with three steps."

Iran raised international concern last week by announcing plans to install and operate advanced uranium enrichment machines. The EU said the move, potentially shortening the path to weapons-grade material, could deepen doubts about the peaceful nature of Iran's nuclear program.

Prime Minister Benjamin Netanyahu said on Sunday that Israel's mission to stop its arch-enemy from acquiring nuclear weapons was "becoming more complex, since the Iranians are equipping themselves with cutting-edge centrifuges that shorten the time of (uranium) enrichment".

"We must not accept this process," said Netanyahu, who is trying to form a new government after winning an election last month. Israel is generally believed to be the only country in the Middle East with nuclear weapons.

(Additional reporting by Myra MacDonald and Stephen Brown in Munich, Dmitry Solovyov in Almaty, Yeganeh Torbati in Dubai and Jim Wolf in Washington; Editing by Kevin Liffey and Will Dunham)

Read More..