Wall Street indexes slide, AT&T down

NEW YORK (Reuters) - Stocks dropped on Tuesday as investors pulled back from last week's rally on the "fiscal cliff" deal in Washington, and ahead of what is expected to be a weak earnings season.


AT&T Inc stock dropped 1.5 percent to $34.42, making it one of the biggest drags on the S&P 500, after the company said it sold more than 10 million smartphones in the quarter. This figure beat the same quarter in 2011, but also meant increased costs for the wireless service provider.


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


After a 4.3 percent jump in the two sessions around the close of the fiscal cliff negotiations, the S&P has fallen and investors have found few catalysts to extend the rally that took the benchmark to five-year highs.


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


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


The Dow Jones industrial average <.dji> fell 73.68 points, or 0.55 percent, at 13,310.61. The Standard & Poor's 500 Index <.spx> dropped 7.31 points, or 0.50 percent, at 1,454.58. The Nasdaq Composite Index <.ixic> lost 12.53 points, or 0.40 percent, at 3,086.29.


Fourth quarter profits are expected to beat the previous quarter's lackluster results, but analyst estimates are down sharply from October. Quarterly earnings are expected to grow by 2.7 percent, according to Thomson Reuters data.


With AT&T's fall, the S&P telecom services index <.gspl> was the worst performer of the 10 major S&P sectors, down 2.6 percent.


Sears Holdings shares dropped nearly 5 percent to $40.79 a day after the company said Chairman Edward Lampert would take over as CEO from Louis D'Ambrosio, who is stepping down due to a family member's health issue. The U.S. retailer also reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.


Markets went lower as some of the first reported earnings were weak.


"It doesn't seem to be bouncing back, it might stay here or sell off a little further," said Stephen Carl, head of U.S. equity trading at The Williams Capital Group in New York.


Shares of restaurant-chain operator Yum Brands Inc fell 4.2 percent to $65.03 a day after the KFC parent warned sales in China, its largest market, shrank more than expected in the fourth quarter.


GameStop was one of the worst performers on the S&P 500 as shares slumped 5.4 percent to $23.41 after the video game retailer reported low customer traffic for the holiday season and cut its guidance.


Shares of Monsanto Co gained 2.5 percent to $98.40 after reaching a more than four-year high at $99.99. The world's largest seed company raised its earnings outlook for fiscal year 2013 and posted strong first-quarter results.


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


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



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World Briefing | Europe: Russia: Orthodox Leader Presses for More Adoptions



The patriarch of the Russian Orthodox Church used his Christmas address on Monday to encourage Russians to adopt orphans, as the country adjusts to a decision to bar Americans from adopting Russian children. The ban, which is retaliation for American legislation intended to punish Russian human rights violators, drew criticism, including from some government officials, largely because 120,000 children in Russia are awaiting adoption. “How important it is that our people should gladly, with a special feeling of gratitude to God, take orphans into their families,” Patriarch Kirill I said in a recorded address broadcast for Orthodox Christmas on Monday. “We should not have orphans in our country,” he added.


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






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


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






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


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


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


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


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


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


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


Gadgets News Headlines – Yahoo! News





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Carrie Underwood Tweets Support for Husband Mike Fisher After NHL Lockout Ends















01/07/2013 at 03:00 PM EST







Mike Fisher and Carrie Underwood


Steve Marcus/Landov


Most hockey fans are thrilled the 113-day NHL lockout is over.

Carrie Underwood? Not so much.

Although Underwood – who has been married to professional hockey player Mike Fisher since 2010 – was quick to celebrate her husband's return to the ice, she couldn't help but joke about it.

"Well, folks, hockey is back!" she Tweeted on Sunday. "I just lost my purse holder but gained cheering on my hot husband as he kicks butt! #GoPreds."

While supportive of Fisher's career, the lighthearted Underwood, 29, is anything but quiet when it comes to voicing her opinion on what comes with being married to a hockey player.

Last April, when Fisher, 32, and his Nashville Predators – he was traded from the Ottawa Senators in February of 2011 – made it to the NHL playoffs, Underwood was thrilled for her husband's success, but not for his impending playoff beard.

"[The players] all grow out their facial hair during the playoffs," she told PEOPLE last year. "So before they started, I told Mike, 'You need to shave close.' He always looks good with a little stubble, but it's probably going to get out of hand soon."

It will come even sooner this season as Fisher points out on his site: "It's nice to finally be able to put this behind us and we can finally start thinking about hockey again ... It's going to go by really quickly, and before you know it the playoffs will be starting."

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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.


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Wall Street retreats from five-year high as focus shifts to earnings

NEW YORK (Reuters) - Stocks fell on Monday as investors cashed in recent gains that lifted the S&P 500 to a five-year high and awaited the start of the fourth-quarter earnings season.


The day's decline was broad across all sectors, but energy and utilities were the top decliners. The S&P 500 energy sector index <.gspe> fell 1 percent and the utilities sector <.gspu> was off 1.2 percent.


Another sector in focus was the financials. Financial stocks fell after a group of major U.S. banks agreed to pay billions in settlement with U.S. regulators.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, was down 0.7 percent.


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.


"There is little doubt that concerns about the fiscal cliff created spending hesitancy in both consumers and businesses in the fourth quarter, and it is likely that will adversely impact earnings season," margins are choppy and cost cuts have run their course, said Randy Frederick, managing director of active trading and derivatives at Charles Schwab.


Aluminum company Alcoa Inc will unofficially launch the reporting season by announcing its results after Tuesday's market close. Alcoa shares were down 1 percent at $9.17.


The Dow Jones industrial average <.dji> was down 76.03 points, or 0.57 percent, at 13,359.18. The Standard & Poor's 500 Index <.spx> was down 8.40 points, or 0.57 percent, at 1,458.07. The Nasdaq Composite Index <.ixic> was down 11.89 points, or 0.38 percent, at 3,089.77.


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


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.


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.


"The settlements may remove any overhang for the stock in the near term, but it only partially satisfies the issue," said Tim Ghriskey, chief investment officer of Solaris Asset Management.


Bank of America shares were down 0.7 percent at $12.02 while Nationstar Mortgage Holdings jumped 12.7 percent to $37.44.


Citigroup shares were down 0.5 percent to $42.20. Wells Fargo shares fell 1.1 percent to $34.55.


Walt Disney Co 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. Disney shares fell 2.4 percent to $50.95.


Video-streaming service Netflix Inc shares gained 2.3 percent to $98.20 after it said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.


Amazon.com shares hit their highest price ever at $269.22 after Morgan Stanley raised is rating on the stock. Shares were up 2.8 percent at $266.63.


Major U.S. technology companies could miss estimates for fourth-quarter earnings as budget worries likely led some corporate clients to tighten their belts last month.


(Reporting By Angela Moon; Editing by Kenneth Barry and Nick Zieminski)



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The Lede Blog: Video of Chinese Censorship Protest

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

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

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

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

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

People showed their support for journalists who had declared a strike to protest what they called overbearing censorship.

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

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

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Kuwaiti gets two years for insulting emir on Twitter






KUWAIT (Reuters) – A Kuwaiti court sentenced a man to two years in prison for insulting the country’s ruler on Twitter, a lawyer following the case said, as the Gulf Arab state cracks down on criticism of the authorities on social media.


According to the verdict on Sunday, published by online newspaper Alaan, a tweet written by Rashid Saleh al-Anzi in October “stabbed the rights and powers of the Emir” Sheikh Sabah al-Ahmad al-Sabah.






Anzi, who has 5,700 Twitter followers, was expected to appeal, the lawyer, who asked not to be named, told Reuters.


Kuwait, a U.S. ally and major oil producer, has been taking a firmer line on politically sensitive comments aired on the Internet.


In June 2012, a man was sentenced to 10 years in prison after he was convicted of endangering state security by insulting the Prophet Mohammad and the Sunni Muslim rulers of Saudi Arabia and Bahrain on social media.


Two months later, authorities detained Sheikh Meshaal al-Malik Al-Sabah, a member of the ruling family, over remarks on Twitter in which he accused authorities of corruption and called for political reform, a rights activist said.


While public demonstrations about local issues are common in a state that allows the most dissent in the Gulf, Kuwait has avoided Arab Spring-style mass unrest that toppled three veteran Arab dictators last year.


But tensions have intensified between the hand-picked government, in which ruling family members hold the top posts, and the elected parliament and opposition groups.


(Reporting by Mahmoud Harbi; Writing by Mahmoud Habboush; Editing by Jason Webb)


Internet News Headlines – Yahoo! News





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Bradley Cooper's Fans Sing 'Happy Birthday' in Palm Springs















01/06/2013 at 03:00 PM EST



Bradley Cooper didn't necessarily have the wildest of birthday celebrations, but his special day certainly didn't go unnoticed.

The Silver Linings Playbook star, who turned 38 on Saturday, was greeted by a slew of screaming fans when he arrived on the red carpet at the 24th Annual Palm Springs International Film Festival Awards Gala in Palm Springs, Calif.

"Bradley started interacting with his fans and then they broke out into song, chanting 'Happy birthday to you,'" an onlooker tells PEOPLE.

Running late into the event because of the fan holdup, Cooper whisked by many of the reporters, and when asked about his birthday plans, answered with a smile, "I'm here!"

But the birthday surprises didn't end there.

After being honored with a Desert Palm Achievement Award presented by Playbook director David O. Russell, PEOPLE's former Sexiest Man Alive was given a shoutout by event host Mary Hart, who insisted the entire room sing "Happy Birthday" to the actor.

"It seemed very unexpected," the onlooker adds. "He seemed a little shy and embarrassed by it, but while managing to smile still."

– Dahvi Shira


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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


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