Wall Street pauses after gains, awaits Obama address

NEW YORK (Reuters) - Stocks were little changed on Tuesday, with the S&P 500 holding near multi-year highs ahead of President Barack Obama's State of the Union address.


The economy will be a major topic of Obama's speech before a joint session of Congress set for 9 p.m. (0200 GMT Wednesday). Investors will listen for any clues on a deal with Republicans to avert automatic spending cuts due to take effect March 1.


The S&P 500 has risen in the past six weeks and is up 6.5 percent so far this year. But gains have been harder to come by since the benchmark S&P index hit a five-year high on February 1. The market has to consolidate strong gains at the year's start while investors search for reasons to drive stocks higher.


"The market itself at this point has got to digest this six-plus percentage point move ... we are due for that pause," said Drew Nordlicht, managing director at HighTower Advisors in San Diego.


Investors are "looking for more data at this point going forward to support the thesis that corporate profits will continue to grow and the economy has turned the corner."


The White House has signaled Obama in his speech will urge U.S. investment in infrastructure, manufacturing, clean energy and education. He is also expected to call for comprehensive trade talks with the European Union.


With earnings season moving to its latter stages, of the 353 companies in the S&P 500 that have reported earnings, 70.3 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters according to Thomson Reuters data through Tuesday morning.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 5.3 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


The Dow Jones industrial average <.dji> gained 27.65 points, or 0.20 percent, to 13,998.89. The Standard & Poor's 500 Index <.spx> added 1.03 points, or 0.07 percent, to 1,518.04. The Nasdaq Composite Index <.ixic> dipped 1.60 points, or 0.05 percent, to 3,190.41.


Coca-Cola Co shares fell 1.9 percent to $37.88 and were the biggest drag on the Dow after the world's largest soft drink maker reported quarterly revenue slightly below analysts' estimates, hurt by a weaker-than-expected performance in Europe.


Housing shares climbed, led by a 12.9 percent jump in Masco Corp to $20.09 after the home improvement product maker posted fourth-quarter earnings and said it expects new home construction to show strong growth in 2013. The PHLX housing sector index <.hgx> gained 2.7 percent.


Avon Products shares surged 16.7 percent to $20.16 after the beauty products company reported a better-than-expected quarterly profit.


Goodyear Tire & Rubber shares lost 3.1 percent to $13.48 after it posted a stronger-than-expected quarterly profit but cut its 2013 forecast due to weakness in the European automotive market.


Michael Kors Holdings shares jumped 10.9 percent to $63.24 after the fashion company handily beat Wall Street's estimates and raised its full-year outlook.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)



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India Ink: In Kashmir, Clashes and Dwindling Supplies As Curfew Continues

The Kashmir Valley is on the fourth day of a government-imposed shutdown begun immediately after the hanging of the militant Muhammad Afzal, also known as Afzal Guru, who comes from the town of Sopore in Baramulla district.

Many residents are running out of food and milk in Srinagar, Kashmir’s summer capital. Meanwhile, dozens have been injured and at least one killed in protests against Mr. Afzal’s hanging, which happened secretly in Delhi on Saturday and was announced afterward.

Mr. Afzal, from the Jaish-e-Muhammad militant group, was convicted of conspiracy and sentenced to death by a special court in 2002 for his role in planning an attack on India’s Parliament in December 2001.

Schools, colleges and most shops in Kashmir are closed by government order, and people have been asked to stay inside their homes. Rows of shops and restaurants were shuttered.

Vehicles have been banned from the streets, cable news channels have gone dark, Internet service on cellphones has been blocked and newspapers were not being delivered. Hospitals, pharmacies and emergency services remain open.

In Srinagar, the only people in the deserted streets were security forces.

Officials in the area said they were taking preventive measures. During the past decade, many Kashmiris have opposed the death sentence for Mr. Afzal, saying he was being unfairly accused of the crime. His wife had requested a pardon from the Indian government, but her plea was denied.

Many Kashmiris were also outraged that the government letter carrying the news of execution reached Mr. Afzal’s widow in Sopore only after he died. The central government said Tuesday that Mr. Afzal’s family could visit his grave at Tihar Jail in Delhi, but a date has yet to be decided, according to the Press Trust of India.

The ban on the movement of people and vehicles was imposed under Section 144 of India’s criminal procedure code, the same section invoked after protests over the recent Delhi gang rape, which prohibits the assembly of more than four people.

It was invoked by the administration to prevent “a law and order problem,” Suresh Kumar, principal secretary in Jammu and Kashmir’s Department of Home Affairs, said in a telephone interview Tuesday. 

Mr. Afzal’s death was mourned across the valley through organized street protests that involved stone pelting, in defiance of the ban.

Three civilians have died and many have been injured over the last four days, officials said. Some news reports attributed all three deaths to protest-related activities, but Mr. Kumar said only one man died of injuries caused by the police. The other two drowned when their boat capsized, an incident unrelated to the violence, he said.

Obair Mushtaq, from the Baramulla district, died after he was shot, his relatives said. Farooq Ahmed, his uncle, said Obair was 13.

Mr. Ahmed said that on Sunday evening, a handful of children, including his nephew, were throwing stones at a passing military convoy. “It was not aggressive. We were laughing at them,” he said, crying over the phone. “We can’t understand why there is so much fighting. Why are our children dying?”

A Kashmir police official told India Ink that 60 people have been injured since Saturday in clashes between police and civilians. Forty of those were security officials and 20 were civilians, he said. He spoke on the condition of anonymity, saying that he feared for his life.

Additionally, there were about 60 incidents of stone pelting across the valley. “Most of the violence erupted in Sopore and Baramulla,” he said.

“People are not allowed to step out of their homes,” he added.Many residents described the past four days as the longest curfew since 2010, when the valley was shaken by mass pro-independence demonstrations. 

Manzoor Ahmed, who drives an auto-rickshaw, said that he hasn’t earned any money since the curfew was imposed on Saturday. “I haven’t stepped out of the house so I cannot even make the little money I do,” he said during a telephone interview. “The children cannot go to school.”

Mr. Ahmed said that his family was surviving on dal, a stew made of lentils, because there are no fresh vegetables available. “We have a backup supply of dal because we know things like this can happen,” he said.

In some areas, for a few hours in the evening, residents said they were allowed out of their homes to shop. Vegetables and milk are generally shipped into Srinagar, which is nestled in the mountains, from villages and other states during the winter months.

Mr. Mohammed, a hotel manager near the Dal Lake, who requested his first name not be used to avoid any retaliatory action, said that his hotel was running out of vegetables like peas and cauliflower, and guests were only being served beans and potatoes from storage. “The situation is quite bad,” he said.

For around two hours in the evening, a few stores selling basic groceries were open. But these shops have limited resources because the supply chain had been disrupted because of the ban on vehicles.

One businessman, who requested not be named to avoid possible retaliatory action by the police, said he hasn’t opened his crockery shop in downtown Srinagar in the past four days. “What choice do I have? They won’t let us step out,” he said. He estimated he has lost 60,000 rupees ($1,000) since Saturday.

The hanging of Mr. Afzal came as Kashmiris were planning protests to mark the death of Maqbool Bhatt, a pro-Kashmir independence leader who was hanged on Feb. 11, 1984. His death is considered the spark for two decades of unrest. Both men are buried at Tihar Jail in Delhi.

“Maqbool Bhatt inspired the insurgency while Afzal Guru was the product of it,” said Sheikh Showkat Hussain, a law professor at Kashmir University. 

He warned that Mr. Afazal’s hanging and the subsequent curfew would make the Kashmiri people’s “alienation with the government more deep rooted.”

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Android 4.2.2 Update Now Being Deployed to Nexus Devices






The immediate precursor to the upcoming “Key Lime Pie” version of Android, an update to Android 4.2.2, is now being rolled out to GSM models of the Galaxy Nexus, Nexus 7, and Nexus 10, according to Liam Spradlin of Android Police. It’s as yet unknown if the update brings any new features, but it is expected to fix at least one bug with the devices’ Bluetooth connections.


Why Nexus devices?






Google‘s Nexus series of devices are made in close partnership with hardware manufacturers like Asus and Samsung, the makers of the Nexus 7 tablet and Galaxy Nexus smartphone respectively. These gadgets eschew most non-uninstallable “crapware” and UI layers like Touchwiz and MotoBLUR, even the ones those manufacturers normally install, in favor of a pure “Made for Google Play” (Google‘s version of Apple’s iTunes and its App Store) experience.


Nexus devices have historically stopped receiving updates faster than Apple’s iPhones and iPads have. But relatively frequent operating system updates — and the accompanying features and bug fixes — are still one of their major selling points compared to other Android devices, as most seldom if ever receive such upgrades.


Why these particular Nexus devices?


The GSM versions of the Galaxy Nexus, Nexus 7, and Nexus 10 are the ones reported so far to have received the update. If the software update is now in the process rolling out to all recent Nexus devices worldwide, it may take some time for each individual Nexus to get it, and for an official changelog to be posted.


Certain carriers’ Nexus devices may have to wait months for the upgrade, the way that Galaxy Nexus owners on Verizon had to last time.


Does the Android 4.2.2 update add any new features?


None have been reported so far. But Jerry Hildenbrand of Android Central recently posted a screenshot of something which was spotted on a Google support page: A home screen widget added for the popular Google Now app, which is basically Google’s answer to Siri.


The support page Jerry links to now gives visitors an error message, which suggests that Google may not be ready to reveal that yet. It’s not clear, however, whether it will be part of Android 4.2.2 or a future update, or whether it will be added to Google Now via a Google Play app update (the same way other apps are individually updated).


Which bugs does the Android 4.2.2 update fix?


Google confirmed last month that “the a2dp streaming stutter problem” would be fixed in the next release of Android. Android Police‘s Cameron Summerson explains that this was a bug where audio “lag and cuts out constantly” when listened to over Bluetooth headsets. A similar bug affected Bluetooth game controllers, which tended to either not work or lag horribly on devices running Android 4.2.


Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.


Linux/Open Source News Headlines – Yahoo! News





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What Wardrobe Memo? See the Style Rule Breakers at the Grammys





The email requested that "buttocks and female breasts are adequately covered," but Katy Perry, Kelly Rowland and more ignored that appeal and flaunted their assets








Credit: Jordan Strauss/Invision/AP



Updated: Sunday Feb 10, 2013 | 10:00 PM EST
By: Zoë Ruderman




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What heals traumatized kids? Answers are lacking


CHICAGO (AP) — Shootings and other traumatic events involving children are not rare events, but there's a startling lack of scientific evidence on the best ways to help young survivors and witnesses heal, a government-funded analysis found.


School-based counseling treatments showed the most promise, but there's no hard proof that anxiety drugs or other medication work and far more research is needed to provide solid answers, say the authors who reviewed 25 studies. Their report was sponsored by the federal Agency for Healthcare Research and Quality.


According to research cited in the report, about two-thirds of U.S. children and teens younger than 18 will experience at least one traumatic event, including shootings and other violence, car crashes and weather disasters. That includes survivors and witnesses of trauma. Most will not suffer any long-term psychological problems, but about 13 percent will develop symptoms of post-traumatic stress, including anxiety, behavior difficulties and other problems related to the event.


The report's conclusions don't mean that no treatment works. It's just that no one knows which treatments are best, or if certain ones work better for some children but not others.


"Our findings serve as a call to action," the researchers wrote in their analysis, published online Monday by the journal Pediatrics.


"This is a very important topic, just in light of recent events," said lead author Valerie Forman-Hoffman, a researcher at RTI International, a North Carolina-based nonprofit research group.


She has two young children and said the results suggest that it's likely one of them will experience some kind of trauma before reaching adulthood. "As a parent I want to know what works best," the researcher said.


Besides the December massacre at Sandy Hook Elementary School in Connecticut, other recent tragedies involving young survivors or witnesses include the fatal shooting last month of a 15-year-old Chicago girl gunned down in front of a group of friends; Superstorm Sandy in October; and the 2011 Joplin, Mo., tornado, whose survivors include students whose high school was destroyed.


Some may do fine with no treatment; others will need some sort of counseling to help them cope.


Studying which treatments are most effective is difficult because so many things affect how a child or teen will fare emotionally after a traumatic event, said Dr. Denise Dowd, an emergency physician and research director at Children's Mercy Hospitals and Clinics in Kansas City, Mo., who wrote a Pediatrics editorial.


One of the most important factors is how the child's parents handle the aftermath, Dowd said.


"If the parent is freaking out" and has difficulty controlling emotions, kids will have a tougher time dealing with trauma. Traumatized kids need to feel like they're in a safe and stable environment, and if their parents have trouble coping, "it's going to be very difficult for the kid," she said.


The researchers analyzed 25 studies of treatments that included anti-anxiety and depression drugs, school-based counseling, and various types of psychotherapy. The strongest evidence favored school-based treatments involving cognitive behavior therapy, which helps patients find ways to cope with disturbing thoughts and emotions, sometimes including talking repeatedly about their trauma.


This treatment worked better than nothing, but more research is needed comparing it with alternatives, the report says.


"We really don't have a gold standard treatment right now," said William Copeland, a psychologist and researcher at Duke University Medical Center who was not involved in the report. A lot of doctors and therapists may be "patching together a little bit of this and a little bit of that, and that might not add up to the most effective treatment for any given child," he said.


___


Online:


Pediatrics: http://www.pediatrics.org


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Wall Street flat near highs as investors seek catalysts

NEW YORK (Reuters) - Stocks were little changed on Monday as investors scrambled to find catalysts to move the market higher after a six-weeks-long advance that has taken the S&P 500 index near record highs.


The benchmark index is up more than 6 percent so far this year after a steep rally in January that has stalled as the S&P and Dow industrials near multiyear highs.


Trading volume was relatively low, which could make the market volatile and exaggerate moves.


Google Inc shares fell 0.9 percent at $777.94 after the company said in a filing former chief executive Eric Schmidt is selling roughly 42 percent of his Google stake, a move that could potentially net him $2.51 billion.


But the decline was offset by gains in Apple , up 1.8 percent at $483.68 after a New York Times report that the iPhone maker is experimenting with the design of a device similar to a wristwatch.


"It's really the valuation and indications that the economy is improving that have pushed the market higher. We would have to see a probable correction before heading higher and that could come from weak economic data in the future," said Tim Ghriskey, chief investment officer at Solaris Asset Management.


No economic data or major earnings reports are scheduled for Monday, but Federal Reserve Vice Chairwoman Janet Yellen is due to speak about the economic recovery at 1 p.m. On Tuesday, President Barack Obama will describe his plan for spurring the economy in his State of the Union address. He is expected to offer proposals for investment in infrastructure, manufacturing, clean energy and education.


The Dow Jones industrial average <.dji> was down 18.09 points, or 0.13 percent, at 13,974.88. The Standard & Poor's 500 Index <.spx> was down 0.71 point, or 0.05 percent, at 1,517.22. The Nasdaq Composite Index <.ixic> was down 2.32 points, or 0.07 percent, at 3,191.55.


Upbeat U.S. and Chinese data last week helped the S&P 500 extend its weekly winning streak to six.


Opposition has grown to the $24.4 billion buyout of Dell Inc , the No. 3 personal computer maker, as three of the largest investors joined Southeastern Asset Management on Friday in raising objections. Dell said in a regulatory filing it had considered many strategic options before opting to go private in a buyout led by Chief Executive Michael Dell.


Dell shares hovered near $13.65, the buyout offer price.


Regeneron Pharmaceuticals Inc shares jumped 3.9 percent at $172.39 after it said longtime drug development partner Sanofi plans to boost its stake in Regeneron by open market purchases of its stock.


(Reporting By Angela Moon)



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The Lede: Latest Updates on the Pope’s Resignation

The Lede is providing updates on Pope Benedict XVI’s announcement on Monday that he intends to resign on Feb. 28, less than eight years after he took office, the first pope to do so in six centuries. (Turn off auto-refresh to watch videos.)
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Purported HTC M7 image reveals edge-to-edge display, familiar design









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Chris Brown Crashes Car During Paparazzi Chase















02/10/2013 at 12:40 PM EST



Grammy weekend got off on a bumpy start for Chris Brown.

The best urban contemporary album nominee walked away uninjured after crashing his black Porsche into a wall during a paparazzi chase, reports the Associated Press.

Beverly Hills police say the accident occurred Saturday around when Brown, 23, lost control of his vehicle. Lt. Lincoln Hoshino said authorities will investigate the incident, although he didn't know whether any of the involved parparazzi have been identified, according to the AP.

It's been just four years since Brown first caused a stir during Grammy weekend as a domestic violence drama began to unfold between him and on-again girlfriend Rihanna right before the 2009 awards ceremony. Now, fans will wait and see if the two attend this year's show together.

A call to Brown's lawyer by the AP was not immediately returned.

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After early start, worst of flu season may be over


NEW YORK (AP) — The worst of the flu season appears to be over.


The number of states reporting intense or widespread illnesses dropped again last week, and in a few states there was very little flu going around, U.S. health officials said Friday.


The season started earlier than normal, first in the Southeast and then spreading. But now, by some measures, flu activity has been ebbing for at least four weeks in much of the country. Flu and pneumonia deaths also dropped the last two weeks, the Centers for Disease Control and Prevention reported.


"It's likely that the worst of the current flu season is over," CDC spokesman Tom Skinner said.


But flu is hard to predict, he and others stressed, and there have been spikes late in the season in the past.


For now, states like Georgia and New York — where doctor's offices were jammed a few weeks ago — are reporting low flu activity. The hot spots are now the West Coast and the Southwest.


Among the places that have seen a drop: Lehigh Valley Hospital-Cedar Crest in Allentown, Pa., which put up a tent outside its emergency room last month to help deal with the steady stream of patients. There were about 100 patients each day back then. Now it's down to 25 and the hospital may pack up its tent next week, said Terry Burger, director of infection control and prevention for the hospital.


"There's no question that we're seeing a decline," she said.


In early December, CDC officials announced flu season had arrived, a month earlier than usual. They were worried, saying it had been nine years since a winter flu season started like this one. That was 2003-04 — one of the deadliest seasons in the past 35 years, with more than 48,000 deaths.


Like this year, the major flu strain was one that tends to make people sicker, especially the elderly, who are most vulnerable to flu and its complications


But back then, that year's flu vaccine wasn't made to protect against that bug, and fewer people got flu shots. The vaccine is reformulated almost every year, and the CDC has said this year's vaccine is a good match to the types that are circulating. A preliminary CDC study showed it is about 60 percent effective, which is close to the average.


So far, the season has been labeled moderately severe.


Like others, Lehigh Valley's Burger was cautious about making predictions. "I'm not certain we're completely out of the woods," with more wintry weather ahead and people likely to be packed indoors where flu can spread around, she said.


The government does not keep a running tally of flu-related deaths in adults, but has received reports of 59 deaths in children. The most — nine — were in Texas, where flu activity was still high last week. Roughly 100 children die in an average flu season, the CDC says


On average, about 24,000 Americans die each flu season, according to the CDC.


According to the CDC report, the number of states with intense activity is down to 19, from 24 the previous week, and flu is widespread in 38 states, down from 42.


Flu is now minimal in Florida, Kentucky, Maine, Montana, New Hampshire and South Carolina.


___


Online:


CDC: http://www.cdc.gov/flu/


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