Wall Street rises on jobs, factory data, Dow passes 14,000

NEW YORK (Reuters) - Stocks rose to five-year highs on Friday after jobs and manufacturing data showed the economy's recovery remains on track.

The Dow industrials rose above 14,000 for the first time since mid-October 2007 and the S&P touched its highest since December of that year. The S&P advanced 5 percent in January for its best start to a year since 1997 and is now just about 60 points away from its all-time intraday high of 1,576.09.

Analysts attributed the market's robust showing so far this year partly to a deluge of cash flowing into equities.

Investors poured $12.7 billion into U.S.-based stock mutual funds and exchange-traded funds in the latest week, concluding the strongest four-week flows into stock funds since 1996, data showed on Thursday.

"Fundamentals are looking good today after the data, but overall the money that was on the sidelines is finally coming into the market again," said Doug Cote, chief market strategist at ING Investment Management.

Employment grew modestly in January, with 157,000 jobs added in the month, slightly below expectations for 160,000. But Labor Department revisions showed 127,000 more jobs were created in November and December than previously reported.

Other reports released Friday showed the pace of growth in the U.S. manufacturing sector picked up in January to its highest level in nine months, U.S. consumer sentiment rose more than expected last month, while December construction spending also beat forecasts.

"All the data seems to keep pointing to a slowly, steadily improving economy," said Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago.

The Dow Jones industrial average <.dji> was up 150.14 points, or 1.08 percent, at 14,010.72. The Standard & Poor's 500 Index <.spx> was up 15.11 points, or 1.01 percent, at 1,513.22. The Nasdaq Composite Index <.ixic> was up 38.50 points, or 1.23 percent, at 3,180.63.

With the day's gains, major equity indexes were on track for a fifth straight week of gains. The S&P 500 is also coming off its best monthly performance since October 2011.

Google shares briefly hit an all-time high of $774.92 before retreating to trade 2.5 percent higher at $774.54.

Investors were also attuned to corporate earnings, with a trio of Dow components reporting profits that beat expectations.

Exxon Mobil was little changed at $89.95 after its results while Chevron added 1 percent to $116.34.

Drugmaker Merck & Co fell 2.7 percent to $42.10 after a cautious 2013 outlook.

Generic drugmaker Perrigo reported a better-than-expected second-quarter profit and its shares jumped 5.5 percent to $106.01.

Of the 252 companies in the S&P 500 that have reported earnings so far, 69 percent have exceeded expectations, according to Thomson Reuters data. That is a higher proportion than over the past four quarters and above average since 1994.

Overall, S&P 500 fourth-quarter earnings are estimated to have grown 4.4 percent, according to the data, up from a 1.9 percent forecast at the start of the earnings season but well below a 9.9 percent profit growth forecast on October 1.

Dell Inc gained 4.2 percent to $13.80 after sources said the company was nearing an agreement to sell itself to a buyout consortium led by its founder, Michael Dell, and private equity firm Silver Lake Partners.

Shares of General Motors and Ford Motor rose after the two largest American automakers posted better-than-expected U.S. auto sales for January.

GM gained 1.2 percent to $28.42 and Ford added 0.9 percent to $13.07.

Shares of Zoetis surged on its trading debut on the New York Stock Exchange after its shares were priced at $26, above the expected range. Zoetis was trading at $30.67 at midday after earlier climbing as high as $31.74.

(Reporting By Angela Moon; Editing by Kenneth Barry)

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Deadly Firefight on Lebanon’s Border With Syria

BEIRUT, Lebanon — At least three Lebanese Army soldiers were killed on Friday in a shootout as they tried to arrest a resident of a village that has become a hub of refugees and where Syrian rebel fighters often cross the border. Their target was also fatally shot.

There were conflicting reports about the nature of the clash, in which security forces were ambushed as they pursued a wanted man, but the episode played into fears that the accelerating influx of Syrians could spread the conflict into Lebanon.

The village, Aarsel, lies in the eastern Bekaa Valley, a mountainous region bordering Syria, and is a stronghold of support for the rebellion against the Syrian president, Bashar al-Assad. Syrian refugees who prefer to avoid areas of the Bekaa closely controlled by Hezbollah, an ally of Mr. Assad, have also crammed into the town.

In a statement, the Lebanese Army said that a captain was among those killed and declared without elaborating, “There will be no compromises on attempts to hide armed militants.”

Some reports, citing unnamed security sources, said that the soldiers were attacked by Syrian rebels, while residents said that villagers chased down and attacked plainclothes security personnel who arrived to arrest a Lebanese suspect without coordinating with local leaders.

The suspect, a resident of Aarsel, was identified as Khaled Hummayed. Lebanon’s national news agency said that he was wanted for involvement in the kidnapping of Estonian tourists in the Bekaa in 2011.

Several Lebanese media outlets said that members of the Free Syrian Army, the loose-knit rebel coalition, attacked the soldiers, while Reuters reported that Mr. Hummayed was believed to be a member of a jihadist rebel group that has been active in Syria, Al Nusra Front, who traveled frequently in and out of the country.

The deputy mayor of Aarsel said that Mr. Hummayed was driving a pickup truck when security personnel in civilian cars confronted him, shot him, and left with his body. He said he did not know if Mr. Hummayed was involved with Syrian rebels, but added, “90 percent of Aarsel’s people support the revolution.”

A smuggler from Aarsel, who gave only a nickname, Abu Hussein, said he was on the way to Friday Prayer and witnessed the shootout. He said that Mr. Hummayed’s pickup truck was left behind, smeared with blood, as angry residents pursued the cars. He said that Mr. Hummayed had once draped the flag of the Syrian revolution around his body.

Supporters of the revolution are deeply suspicious of Lebanese security forces, which they see as aiding the Syrian government. Lebanon has officially adopted a policy of “disassociation” from the Syrian conflict.

But in practice, many Lebanese have taken sides, with many Sunni Muslims supporting the rebellion led by Syria’s Sunni majority, while Hezbollah, a Shiite Muslim movement that relies on Syria as an arms conduit, has supported the government dominated by Mr. Assad’s Alawite sect, an offshoot of Shiism.

The border area has been tense, with rebels hiding and resting on the Lebanese side, and Syrian troops sometimes shelling Lebanese territory, crossing the border to fight rebels or shooting civilian refugees as they flee.

New pressures are growing as the flow of refugees — there are already more than 200,000 in Lebanon, a country of 4 million — overtaxes Sunni areas that have hosted most of them and pushes refugees into new areas.

More than 2 million people are displaced inside Syria, and on Friday, the United Nations children’s agency said 420,000 people — half of them children — needed urgent help in the province of Homs.

A spokeswoman for Unicef, Marixie Mercado, told reporters in Geneva that 200 of Homs’s 1,500 schools were damaged, with 65 more housing refugees, news agencies reported.

The United Nations refugee agency said it had for the first time reached the town of Azaz, near the Turkish border, to deliver tents with Syrian government permission, and found 45,000 people living in makeshift tents.

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Apple loses a U.S. appeals bid in Samsung patent fight

SAN FRANCISCO (Reuters) – A U.S. appeals court on Thursday rejected Apple Inc‘s request to revive its bid for a sales ban on Samsung‘s Galaxy Nexus smartphone, dashing the iPhone maker’s attempt to recover crucial leverage in the global patent wars.

Apple had asked the full Federal Circuit Court of Appeals in Washington, D.C., to revisit a decision in October by a three-judge panel of the same court. The panel rejected Apple’s request to impose a sales ban on Samsung’s Nexus smartphone ahead of a trial set for March 2014.

An Apple spokeswoman declined to comment. A Samsung representative could not immediately be reached.

The fight in appeals court comes after Apple won a $ 1.05 billion verdict last year against Samsung in a U.S. District Court in California. The same trial judge will preside over the legal battle surrounding the Nexus phone, which involves a patent not included in the earlier trial.

The fight has been widely viewed as a proxy war between Apple and Google Inc. Samsung’s hot-selling Galaxy smartphones and tablets run on Google’s Android operating system, which Apple’s late co-founder, Steve Jobs, once denounced as a “stolen product.”

In its October ruling against Apple, the appeals court raised the bar for potentially market-crippling injunctions on product sales based on narrow patents for phone features. The legal precedent puts Samsung in a much stronger position by allowing its products to remain on store shelves while it fights a global patent battle against Apple over smartphone technology.

U.S. District Judge Lucy Koh, in San Jose, California, who has presided over much of the Apple/Samsung litigation in the United States, cited the appeals’ court decision in a December order rejecting Apple’s request for permanent sales bans on several Samsung phones. Apple has appealed Koh’s ruling.

Apple wanted the full Federal Circuit of Appeals, made up of nine active judges, to reverse the earlier ruling. But in a brief order on Thursday, the court rejected Apple’s request without detailed explanation or any published dissents.

Several experts had believed that Apple faced long odds, as the legal issues in play were not considered controversial enough to spur full court review.

Apple could still appeal to the U.S. Supreme Court. However, the high court has made it more difficult for patent plaintiffs to secure sales injunctions in recent years.

The case in the Federal Circuit is Apple Inc. vs Samsung Electronics Co Ltd et al, 12-1507.

(Reporting By Dan Levine; Editing by John Wallace, Grant McCool and Leslie Adler)

Tech News Headlines – Yahoo! News

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Donald Faison and Cacee Cobb Expecting a Baby

Mom & Babies
Celebrity Baby Blog

01/31/2013 at 03:55 PM ET

Dr. Billy Ingram/Wireimage

Cacee Cobb has more than just a best friend in Jessica Simpson — she also has a pregnancy pal.

The Texas native and new husband Donald Faison are expecting their first child together, Cobb, 35, Tweeted Thursday.

“Looks like [Donald] and I are going to have a little stormtrooper of our own!” she wrote, sharing a photo of a light blue t-shirt with the Star Wars solider embroidered on the front.

The Exes star, 38, is already dad to children Kobe, 11, Dade and Kaya, both 13, and Sean, 16, from prior relationships.

The couple of six years were married in December in the backyard of Faison’s Scrubs costar Zach Braff.

– Sarah Michaud

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Hedgehog Alert! Prickly pets can carry salmonella

NEW YORK (AP) — Add those cute little hedgehogs to the list of pets that can make you sick.

In the last year, 20 people were infected by a rare but dangerous form of salmonella bacteria, and one person died in January. The illnesses were linked to contact with hedgehogs kept as pets, according to a report released Thursday by the Centers for Disease Control and Prevention.

Health officials on Thursday say such cases seem to be increasing.

The CDC recommends thoroughly washing your hands after handling hedgehogs and cleaning pet cages and other equipment outside.

Other pets that carry the salmonella bug are frogs, toads, turtles, snakes, lizards, chicks and ducklings.

Seven of the hedgehog illnesses were in Washington state, including the death — an elderly man from Spokane County who died in January. The other cases were in Alabama, Illinois, Indiana, Michigan, Minnesota, Ohio and Oregon.

In years past, only one or two illnesses from this salmonella strain have been reported annually, but the numbers rose to 14 in 2011, 18 last year, and two so far this year.

Children younger than five and the elderly are considered at highest risk for severe illness, CDC officials said.

Hedgehogs are small, insect-eating mammals with a coat of stiff quills. In nature, they sometimes live under hedges and defend themselves by rolling up into a spiky ball.

The critters linked to recent illnesses were purchased from various breeders, many of them licensed by the U.S. Department of Agriculture, CDC officials said. Hedgehogs are native to Western Europe, New Zealand and some other parts of the world, but are bred in the United States.

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Online:

CDC report: http://www.cdc.gov/mmwr

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Market treads water ahead of Friday's employment data

NEW YORK (Reuters) - Stocks were little changed on Thursday as investors were cautious after a mixed bag of economic data, while stellar earnings from chipmaker Qualcomm helped the Nasdaq index to edge higher.

The S&P 500 is on track to post its best month since October 2011 and its best January since 1997.

Investors expect a pullback in equities after the recent gains, though they have bought on dips over the past four weeks. The largest daily decline on the S&P 500 so far in 2013 was Wednesday's 0.39 percent drop after data showed the economy contracted in the fourth quarter of 2012.

On Friday, the government is due to release figures on January's non-farm payrolls, which are expected to show employers added 160,000 jobs in January after a rise of 155,000 in December.

"It's the calm before the potential storm. The uncertainty about tomorrow's numbers comes from that fact that we had a decent ADP report but the weekly claims were not so great," said Randy Frederick, managing director of active trading and derivatives for Charles Schwab in Austin, Texas.

"We could see an overly sensitive market to a bad number tomorrow, given that we've been up without a major correction, and that makes the market sensitive to the downside."

Data on Thursday showed a slight rise in weekly jobless claims and incomes growing at the best pace since 2004, underscoring how fragile the economic recovery still was.

Friday will also bring reports on consumer confidence, U.S. manufacturing, construction spending and car sales.

Qualcomm gained 4.4 percent to $66.32 as the top boost to the Nasdaq Composite after the world's leading supplier of chips for cellphones beat analysts' expectations for quarterly profit and revenue and raised its targets for the year.

Facebook shares fell 0.8 percent to $31.01 after falling as low as $28.74 a day after the social network company said it doubled its mobile advertising revenue in the fourth quarter. However, growth trailed some of Wall Street's most aggressive estimates.

The Dow Jones industrial average <.dji> was down 7.50 points, or 0.05 percent, at 13,902.92. The Standard & Poor's 500 Index <.spx> was up 0.36 points, or 0.02 percent, at 1,502.32. The Nasdaq Composite Index <.ixic> was up 6.99 points, or 0.22 percent, at 3,149.29.

The S&P 500 has advanced more than 5 percent in January after legislators in Washington temporarily sidestepped a "fiscal cliff" of automatic tax increases and spending cuts that could have derailed the recovery. Better-than-expected corporate earnings have added to the gains.

It would be the benchmark's largest monthly advance since a more than 6 percent gain in October 2011 and the best January advance since a 6.1 percent jump in 1997.

UPS shares lost 2.1 percent to $79.50 after reporting fourth-quarter earnings that were below analysts' estimates on Thursday and forecasting weaker-than-expected profit for 2013.

Constellation Brands shares tumbled 16.4 percent to $32.72 after the U.S. Justice Department moved to stop Anheuser-Busch InBev from buying the half of Mexican brewer Grupo Modelo that it does not already own. Constellation would have distributed Corona beer in the United States if the transaction had been approved.

Tank barge operator Kirby Corp added 6.3 percent to $70.67 and transportation company Ryder Systems climbed 4.8 percent to $56.84 after posting quarterly results.

Thomson Reuters data through Thursday morning shows that of the 231 companies in the S&P 500 that have reported earnings this season, 69.3 percent have exceeded expectations, a higher proportion than over the past four quarters and above the average since 1994.

Overall, S&P 500 fourth-quarter earnings are forecast to have risen 3.7 percent. That's above a 1.9 percent forecast at the start of the earnings season but well below a 9.9 percent profit growth forecast on October 1, the data showed.

Slot machine maker WMS Industries surged 51.7 percent to $24.84 after the company agreed to be acquired by Scientific Games for $26 per share in cash. Scientific Games jumped 5 percent to $9.38.

(Reporting By Angela Moon; Editing by Nick Zieminski)

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Syria’s Confirmation of Airstrike May Undercut Israel’s Strategy of Silence

Jim Hollander/European Pressphoto Agency

In East Jerusalem, Israelis distributed gas masks on Wednesday as worries about security spread. More Photos »

JERUSALEM — Israeli officials remained silent on Thursday about their airstrike in Syrian territory the day before, a tactic that experts said was part of a longstanding strategy to give targeted countries face-saving opportunities to avoid conflict escalation. But Syria’s own confirmation of the attack, followed by harsh condemnation not only by Israel’s enemies Iran and Hezbollah but also by Russia, may have undercut that effort, analysts said, increasing the likelihood of a cycle of retaliation.

“From the moment they chose to say Israel did something, it means someone has to do something after that,” said Giora Eiland, a former head of Israel’s National Security Council and a longtime military leader. “Contrary to what I could hope and believe yesterday, that this round of events would end soon, now I am much less confident.”

The Iranian deputy foreign minister warned Thursday that Israel’s strike would lead to “grave consequences for Tel Aviv,” while the Russian Foreign Ministry issued a statement saying that the strike “blatantly violates the United Nations Charter and is unacceptable and unjustified, whatever its motives.”

American officials said Israel hit a convoy before dawn on Wednesday that was ferrying sophisticated antiaircraft missiles called SA-17s to Lebanon. The Syrians and their allies said the target was actually a scientific research facility in the Damascus suburbs. It remained unclear Thursday whether there was one strike or two, and what involvement the research outpost might have had in weapons production or storage for Syria or Hezbollah, the militant Lebanese Shiite organization that has long battled with Israel.

Most experts agree that Syria, Hezbollah and Israel each have strong reasons to avoid a new active conflict right now: the Syrian president, Bashar al-Assad, is fighting for his survival in a violent and chaotic civil war; Hezbollah is struggling for political legitimacy at home and battling its label as a terrorist organization internationally; and Israel is trying to keep its head down in an increasingly volatile region.

But it is equally clear that Hezbollah — backed by Syria and Iran — wants desperately to upgrade its arsenal in hopes of changing the parameters for any future engagement with the powerful Israeli military, and that Israel is determined to stop it. And Hezbollah is perhaps even more anxious to gird itself for future challenges to its primacy in Lebanon, especially if a Sunni-led revolution triumphs next door in Syria.

Benjamin Netanyahu, the Israeli prime minister, and his deputies said loud and clear in the days leading up to the strike that they saw any transfer of Syria’s extensive cache of chemical weapons, or of sophisticated conventional weapons systems, as a “red line” that would prompt action. Now that Israel has followed through on that threat, even without admitting it, analysts expect the country — perhaps backed by its Western allies — to similarly target any future convoys attempting the same feat.

“Once this red line has been crossed, it’s definitely going to be crossed time and again from now on, especially as the situation of the Assad regime will deteriorate,” said Boaz Ganor, head of the International Institute for Counterterrorism at the Interdisciplinary Center in Herzliya, Israel. “They will do the utmost to gain control of those weapons. In that case, I don’t see why Israel wouldn’t have the same type of calculation that Israel had two days ago into the future.”

Mr. Ganor said the United States and Europe should be as concerned as Israel, because Syria’s chemical weapons could end up in the hands not just of Hezbollah but of jihadist organizations like Al Qaeda or its proxies. “If one organization will put their hands on this arsenal, then it will change hands in no time and we’ll see it all over the world,” he said. “We, the international community, are marching into a new era of terrorism.”

Eyal Zisser, a historian at Tel Aviv University who specializes in Syria and Lebanon, said that if there was no retaliation to Wednesday’s airstrike, “Why not repeat it? For Israel it’s going to be the practice.” The question, Professor Zisser said, “is what they will try to do next, Syria and Hezbollah, if there is another Israeli attack, whether they will avoid any retaliation the next time as well.”

Israel’s steadfast silence on the airstrike was reminiscent of its posture after it destroyed a Syrian nuclear reactor in 2007 — an attack it has never acknowledged, though many officials discuss it with winks and nods. But in that case, President Assad bought into the de-escalation strategy by saying the attack had hit an unused — and implicitly unimportant — military building, relieving the pressure for a response.

Reporting was contributed by Irit Pazner Garshowitz from Jerusalem, Ellen Barry from Moscow, Thomas Erdbrink from Tehran and Anne Barnard from Beirut, Lebanon.

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The Z10 is a good first step, but BlackBerry still has to fix its app problem

BlackBerry, a.k.a., the Company Formerly Known as RIM, made good with its first two BlackBerry 10 smartphones on Wednesday. While the new devices are far from perfect, they will at the very least make long-suffering BlackBerry fans very happy and should provide a needed boost to a company in desperate need of growth. That said, BlackBerry still has a major problem that it will have to fix if it ever hopes to lure Android and iOS users away from their devices — it needs to improve the quality of apps that are available on its platform.

[More from BGR: BlackBerry Z10 review]

BlackBerry has done its best to spin its app situation as a positive, touting the roughly 70,000 apps that will be available for BlackBerry 10 at its launch. This number sounds impressive until you realize that the vast majority of these apps are ported from Android or from the BlackBerry Playbook. Even worse for the company, earlier reviews have indicated that many of these apps don’t at all function well, especially since a good portion of them were ported over from Android 2.3 Gingerbread or earlier.

[More from BGR: BlackBerry Q10 preview]

This is obviously not a sustainable situation for BlackBerry in the long term, and to the company’s credit it did announce some very important apps that are being developed directly for the BlackBerry 10 platform, including Skype, WhatsApp and the Angry Birds franchise. But there is a glaring absence that should give pause to anyone feeling optimistic about the platform’s ability to attract top developers in the future: Instagram.

Yes, Instagram is just one app, but it’s also one of the most popular in the world and it’s owned by Facebook (FB), the social networking giant that BlackBerry supposedly has a close partnership with. If BlackBerry can’t convince one of its close partners to develop an app that’s ready in time for its big platform launch, then it really calls into question how much clout the company will have with smaller developers that may not have the resources to build for more than two platforms.

And BlackBerry’s ability to attract the smaller developers is crucial to its future success because we’ve all seen mobile apps that come out of nowhere on iOS and Android and suddenly take the world by storm. If BlackBerry is constantly rushing around trying to get upstart app developers to make native BlackBerry 10 apps months after those developers have hit it big on other platforms, it will put the company at a perpetual disadvantage. This is a problem that BlackBerry desperately needs to fix by the time its next smartphones roll out.

This article was originally published on BGR.com

Gadgets News Headlines – Yahoo! News

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PHOTO: Fat Cat Swims to Lose Weight

People Pets

By Amy Jamieson

01/30/2013 at 03:30 PM EST

Holly the cat swimming at the Olde Towne Pet Resort

Mayra Ruiz

Holly the cat is large – and in charge of the indoor pool at Dulles, Virginia's Olde Towne Pet Resort!

The 13-year-old feline – who weighs a hefty 18 lbs. – takes regular swims in the pool in an effort to shed the 6 or 7 pounds of extra weight she's been carrying for far too long.

"The cat actually sits around all day watching Maury Povich shows at home," the resort's publicist, Mayra Ruiz-Mcpherson, tells PEOPLE. "The goal is just to get her moving. Swimming in the pool is the only activity she does."

Holly's owner, Dani Lawhorne, who works at the facility, began bringing the cat for swim sessions about a month ago after she became concerned about the extra pounds the cat was carrying. The morbidly obese kitty, who, unlike most cats is a natural in the water, is the only feline swimmer at the pool right now. Each time she visits, she dons a life vest and takes supervised swims for up to 30 minutes a time.

"Today she was just gliding and floating," says Ruiz-Mcpherson. "She loves it. She did better than the dogs here today."

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APNewsBreak: EPA moves to ban some rodent poisons

WASHINGTON (AP) — The Environmental Protection Agency is moving to ban the sale of a dozen rat and mouse poisons sold under the popular D-Con brand in an effort to protect children and pets.

The agency said Wednesday it hopes to reduce the thousands of accidental exposures that occur every year from rodent-control products. Children and pets are at risk for exposure because the products typically are placed on floors.

The agency had targeted a handful of companies two years ago, saying they needed to develop new products that are safer for children, pets and wildlife. All but Reckitt Benckiser Inc., manufacturer of D-Con, did so.

The company will have at least 30 days to request a hearing before an administrative law judge. If no hearing is requested, the ban will take effect.

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