Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

Stock futures edge up ahead of earnings, data


NEW YORK (Reuters) - Stock index futures edged up on Thursday, helped by better-than-expected results from online marketplace eBay , ahead of a busy day of corporate earnings and economic data.


Among several financial companies due to release results, Bank of America reported its fourth-quarter profit fell from a year ago as it took more charges to clean up mortgage-related problems stemming from the financial crisis. Its shares slipped 0.5 percent to $11.72 in heavy premarket trading.


EBay's shares rose 3.2 percent to $54.60 in premarket trading, a day after it reported holiday quarter results that just beat Wall Street expectations. It gave a 2013 forecast that was within analysts' estimates.


Solid earnings from Goldman Sachs and JPMorgan Chase on Wednesday helped lift estimates for S&P 500 corporate earnings slightly to a 2.2 percent gain, Thomson Reuters data showed.


But expectations have come down significantly from where they were in October. With investors anticipating a lackluster earnings season, the focus will be on the corporate earnings outlook for the months ahead, analysts said.


"That gives you a bigger picture of where the economy might be headed. I think you have to stitch together all the information and get a true picture of how robust the economies of the world are," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


"We've all dismissed what's going to happen in this fourth quarter. Estimates are pretty low, the companies that can't step over the lower bar are probably going to get punished."


Shares of Boeing extended a recent slump after the United States and other countries grounded the new 787 Dreamliner following a second incident involving battery failure. Boeing was down 2.1 percent at $72.75.


S&P 500 futures rose 2.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 8 points, while Nasdaq 100 futures added 5.75 points.


Investors were looking to the release of a batch of economic data for fresh trading incentives; these include weekly first time claims for unemployment benefits, housing starts for December and manufacturing activity in the U.S. mid-Atlantic region for January.


Shares of Cisco Systems slipped 1.8 percent to $20.66 after JPMorgan cut its rating to "underweight" from "neutral," according to flyonthewall.com.


AT&T is considering buying a telecoms company in Europe to offset growth constraints in its home market, the Wall Street Journal reported, citing unnamed people familiar with the company's thinking.


(Editing by Bernadette Baum)



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Military’s largest solar array dedicated in NM






ALBUQUERQUE, N.M. (AP) — The military dedicated its largest solar energy-producing system on Wednesday at White Sands Missile Range in southern New Mexico.


The $ 16.8 million array includes nearly 15,500 sun-tracking solar panels spread across 42 acres. It will be capable of producing 10 million kilowatt-hours of electricity each year — enough to meet about 10 percent of the need of the missile range.






With abundant sunshine, New Mexico made an ideal site for the project, said Garrison Commander Col. Leo Pullar, one of the officials who attended the ceremony.


“This project illustrates the U.S. Army’s commitment to going green, our focus on operating on net zero energy, and doing what we can to help protect the environment,” Pullar said in a statement.


Other electricity generating stations fueled by renewable resources have been developed on a handful of Army installations around the country. The projects included solar and wind systems at Arizona’s Fort Huachuca and biomass systems at Fort Stewart in Georgia and the Red River Army Depot in Texas.


Federal law currently requires at least 7.5 percent of an installation’s total electricity consumption to include energy produced by renewable resources. The Defense Department has set a voluntary goal of 25 percent by 2025.


The Army has been focusing on purchasing electricity generated from solar, wind, geothermal and biomass sources to meet the benchmarks. In August, the U.S. Army Corps of Engineers issued requests for proposals for purchasing $ 7 billion of electricity over 30 years from renewable energy plants built and operated by contractors using private financing.


At White Sands, Siemens Industry Inc. will be operating the new solar array and selling the electricity to the missile range.


Officials said the Army will own the renewable energy credits associated with the solar plant and will use them toward meeting federal renewable energy mandates.


Construction of the 4.1 megawatt array took about eight months. Work was completed in December, and officials expect the system to save White Sands more than $ 930,000 a year.


California-based technology company Solaria Corp. designed the array’s trackers.


“The productivity is amazing,” Solaria CEO Dan Shugar said in an interview. “You get about 30 percent more energy than you do out of a stationary array.”


Shugar said the Defense Department, which is by far the federal government’s largest energy consumer, is interested in renewable energy for cutting operating costs and enhancing security.


“The U.S. is one of the fastest growing solar markets in the world, and the government sector is one strong component of that,” he said.


The U.S. now has more than 6.4 gigawatts of installed solar electric capacity, according to the Solar Energy Industries Association. That’s enough power for more than 1 million households.


During the third quarter last year, 684 megawatts of solar capacity was installed in the U.S. That’s nearly double what was installed during the same period in 2011, and experts said the growth is expected to continue as prices drop and state and federal mandates require higher percentages of renewable energy.


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Stock futures dip on growth concerns, bank earnings eyed


NEW YORK (Reuters) - Stock index futures slipped on Wednesday, pressured by low growth expectations and ahead of earnings from major financials including Goldman Sachs.


JPMorgan Chase & Co reported an increase in fourth-quarter profits as the biggest U.S. bank made more home loans.


Shares of Dow component Boeing fell 4.2 percent in premarket trading on concerns about the safety of its Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s on Wednesday after one of the jets made an emergency landing.


A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply cut its outlook for world growth in 2013. Global gross domestic product will rise 2.4 percent this year, the bank said, down from its June forecast that global growth would reach 3.0 percent in 2013.


S&P 500 futures fell 2 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 37 points, and Nasdaq 100 futures lost 1.5 points.


Talks to take Dell Inc private are at an advanced stage with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters.


This earnings season the U.S. technology industry is in the unusual position of dragging corporate America down.


(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama)



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Mongoose Calls More Humanlike Than Thought






While some animals like birds and whales are famous for their impressive repertoire of information-packed songs, banded mongooses blurt out short grunts that, to human ears, sound rather unsophisticated.


But a closer examination of mongoose calls has revealed that these animals might be more eloquent than previously believed. In fact, researchers say the creatures combine discrete units of sound somewhat like humans put together a consonant and vowel to form a syllable.






“The fact that such findings were done in a ‘simple’ species as the banded mongoose rather than in primates or apes could be revealing,” researcher David Jansen, of the University of Zurich, told LiveScience in an email.


The results suggest that the “simple” calls of other species — like frogs and bats — might actually contain vocal cues with more complex encoding.


For the study, Jansen and his colleagues followed around banded mongooses (Mungos mungo) in western Uganda, inside of Queen Elizabeth National Park. The small carnivores are related to the meerkat and found in the savannah regions south of the Sahara Desert. They live in social groups of about 20 adults that raise their young cooperatively. Their calls, which last between 50 and 150 milliseconds and can be considered to represent a single “syllable,” allow them to maintain group cohesion and coordinate activities like foraging.


The researchers recorded the animals’ calls to each other, noting what the creatures were doing at the time (i.e. digging, searching or moving). The team found subtle vocal signatures within the single syllables of the calls. There’s an initial sound that seems to provide information about the identity of the caller and a second sound (which Jansen compared to a vowel) that indicates the caller’s current activity. [See Video of Mongoose 'Talking']


Jansen said the research “adds an unexpected layer of complexity to the field of animal communication.” 


“It shows that banded mongooses combine vowel-like segments in a way that was thought to be unique to human speech,” he added, noting that such elements might be found in the calls of other animals that speak to each other in single syllables.


“We think it is present in other species, and future research should attempt to find these,” Jansen wrote, citing frogs and bats as possible candidates.


The research was detailed online last month in the journal BMC Biology.


Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.


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Stock futures fall amid U.S. debt limit, profit worries


NEW YORK (Reuters) - Stock index futures slipped on Tuesday as investors fretted over the debate brewing in Washington over raising the U.S. borrowing limit as well as what is expected to be a lackluster earnings season.


Economic reports include U.S. retail sales and producer prices for December as well as manufacturing activity in New York state for January, all due at 8:30 a.m. Business inventories for November will be released at 10 a.m.


On Monday, President Barack Obama rejected any negotiations with Republicans over raising the U.S. debt ceiling. The United States could default on its debt if Congress does not increase the borrowing limit.


Resolving the debt ceiling debate is more a question of how than if. Investors are wary of another last-minute agreement like the one in August 2011, said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.


"Of course people expect the government will not default on its debt ... but there could be damage done in how it's resolved," said Meckler. "A long, dragged out fight over this damages the credibility of the government and can weaken the global market for U.S. debt."


Speaking separately on Monday, Federal Reserve Chairman Ben Bernanke urged lawmakers to raise the debt ceiling. The central bank chairman also gave a cautiously optimistic outlook for U.S. growth but no clear hints on when the Fed would curb its aggressive bond purchases.


Corporate earnings season picks up the pace this week and investors are bracing for disappointment. Analyst estimates for the quarter have fallen sharply since October. S&P 500 earnings growth is now seen up just 1.9 percent from a year ago, Thomson Reuters data showed.


Homebuilder Lennar on Tuesday reported profit that beat expectations amid a jump in new home orders. The stock edged down 0.9 percent to $40.66 in premarket trading.


S&P 500 futures fell 6.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were down 31 points, and Nasdaq 100 futures lost 9.25 points.


Shares of Dell rose 3.7 percent to $12.75 in premarket trade the day after sources said the company is in talks with private equity firms on a potential buyout.


Facebook added 1.2 percent to $31.32 ahead of a major news event at its headquarters. The secretive nature of the event has triggered a guessing game about what the company could unveil.


ConocoPhillips said it would sell its properties in the Cedar Creek Anticline in Montana and North Dakota to Denbury Resources Inc for $1.05 billion in cash.


QLogic , the networking products maker, surged 7.1 percent to $10.90 after it gave a third-quarter outlook.


(Editing by Kenneth Barry)



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End Near? Doomsday Clock Holds at 5 ‘Til Midnight






The hands of the infamous “Doomsday Clock” will remain firmly in their place at five minutes to midnight — symbolizing humans’ destruction — for the year 2013, scientists announced today (Jan. 14).


Keeping their outlook for the future of humanity quite dim, the group of scientists also wrote an open letter to President Barack Obama, urging him to partner with other global leaders to act on climate change.






The clock is a symbol of the threat of humanity’s imminent destruction from nuclear or biological weapons, climate change and other human-caused disasters. In making their deliberations about how to update the clock’s time this year, the Bulletin of the Atomic Scientists considered the current state of nuclear arsenals around the globe, the slow and costly recovery from events like Fukushima nuclear meltdown, and extreme weather events that fit in with a pattern of global warming.


“2012 was the hottest year on record in the contiguous United States, marked by devastating drought and brutal storms,” the letter says. “These extreme events are exactly what climate models predict for an atmosphere laden with greenhouse gases.” [Doom and Gloom: 10 Post-Apocalyptic Worlds]


At the same time, the letter did give a nod to some progress, applauding the president for taking steps to “nudge the country along a more rational energy path,” with his support for wind and other renewable energy sources.


“We have as much hope for Obama’s second term in office as we did in 2010, when we moved back the hand of the Clock after his first year in office,” Robert Socolow, chair of the board that determines the clock’s position, said in a statement. “This is the year for U.S. leadership in slowing climate change and setting a path toward a world without nuclear weapons.”


The Doomsday Clock came into being in 1947 as a way for atomic scientists to warn the world of the dangers of nuclear weapons. That year, the Bulletin set the time at seven minutes to midnight, with midnight symbolizing humanity’s destruction. By 1949, it was at three minutes to midnight as the relationship between the United States and the Soviet Union deteriorated. In 1953, after the first test of the hydrogen bomb, the doomsday clock ticked to two minutes until midnight.


The Bulletin was at its most optimistic in 1991, when the Cold War thawed and the United States and Russia began cutting their arsenals. That year, the clock was set at 17 minutes to midnight.


From then until 2010, however, it was a gradual creep back toward destruction, as hopes of total nuclear disarmament vanished and threats of nuclear terrorism and climate change reared their heads. In 2010, the Bulletin found some hope in arms reduction treaties and international climate talks and bumped the minute hand of the Doomsday Clock back to six minutes from midnight from its previous post at five to midnight. But by 2012, the clock was pushed forward another minute.


Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.


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Stock futures mixed as investors eye earnings, Apple


NEW YORK (Reuters) - Stock index futures were mixed on Monday as investors faced a busy week of corporate earnings results, while Apple fell on concerns of decreased demand.


Shares of Apple slid more than 3 percent in premarket trade after a report that the tech giant has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand. The stock was down 3.5 percent at $502.02.


Earnings season picks up the pace this week with reports expected from companies including Goldman Sachs , Bank of America , Intel and General Electric . Overall earnings are expected to grow by just 1.9 percent in this reporting period, according to Thomson Reuters data.


Transocean Ltd has disclosed that billionaire activist investor Carl Icahn has acquired a 1.56 percent stake in the offshore rig contractor and is looking to increase that holding. Its shares rose 3.2 percent to $55.80.


S&P 500 futures fell 0.9 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 3 points, and Nasdaq 100 futures fell 9.25 points.


Boeing could come under renewed pressure after Japan's transport ministry launched an investigation into what caused two fuel leaks on a 787 Dreamliner jet owned by Japan Airlines Co 9201.


United Parcel Service Inc said it would drop its 5.2 billion euro ($7 billion) bid for Dutch delivery firm TNT Express on the expectation of an EU veto.


The U.S. economy is expected to grow by 2.5 percent in 2013, improving to 3.5 percent growth in 2014, top Fed official Charles Evans said on Monday.


Investors will also be watching a speech from Federal Reserve Chairman, Ben Bernanke, who will be speaking on monetary policy , recovery from the global financial crisis and long-term challenges facing the American economy at 4 p.m. (2100 GMT)


(Reporting by Leah Schnurr; Editing by Theodore d'Afflisio)



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Space Station Astronaut Calls for Peace on Earth






From high above Earth, Canadian astronaut Chris Hadfield is broadcasting a message of peace for the people of Earth, with a little help from 200,000 Twitter fans.


The three-time spaceflyer, a flight engineer and prolific Twitter user on the International Space Station, spoke solemnly Thursday (Jan. 10) about a picture he recently took of war-torn Syria.






The picture had special poignancy given that the Earth appears as “one place” from orbit, Hadfield told reporters in a press conference at the Canadian Space Agency‘s headquarters near Montreal, Quebec.


“When we do look down on a place that is in great turmoil or strife, it’s hard to reconcile the inherent patience and beauty of the world with the terrible things that we can do to each other as people, and can do to the Earth itself, locally,” Hadfield said from space.


Hadfield, 53, spent his first three weeks in orbit sending dozens of pictures of his view on Earth. That, plus a Twitter chat with Star Trek actor William Shatner and other celebrities, propelled his social media account @Cmdr_Hadfield on to the world stageafter his launch Dec. 19.


This weekend, Hadfield’s Twitter feed surpassed 200,000 followers. As of Sunday (Jan. 13), the count was at 204,630 fans.


“That’s probably the reason we work so hard to communicate what we’re doing up here, as an international team … to just try to give people just a little glimpse of that global perspective, of that understanding that we’re all in this together, and that this is a spaceship, but so is the world.”


‘A lot of the world’s territory’


Chris Hadfield, who will be Canada‘s first space station commander in March when he takes charge, played down his sudden celebrity on Twitter, saying that he is “just a member of the rest of the team here”. He attributed his popularity to the “fundamentally fascinating” work that he and the rest of the station’s six-man Expedition 34 creware performing in space. [Photos by Space Station's Expedition 34Crew]


“With these new technologies in communications, we can directly give people the human side of that. The fact that now, gosh, more than 150,000 people are directly following us every day – I think it’s just a direct measure of how important and useful this is in the human experience.”


Hadfield is a veteran shuttle astronaut who previously flew to Russia’s Mir Space Station in 1995 and performed the first Canadian spacewalk on station in 2001. He said that an important part of his personal experience is sharing what it means to be Canadian with his Russian and U.S. crewmates.


“I, here, represent Canada. So I talk about how I grew up, and what values are important in Canada,” said Hadfield, who was raised in small-town Ontario and flew military CF-18s for the North American Aerospace Defense Command (NORAD) before joining the astronaut program in 1992.


“Between Canada and Russia and the U.S., we cover a lot of the world’s dirt. A lot of the world’s territory. So there’s lots of opportunity, while you’re looking out the window together, to share the experience,” Hadfield said.


‘A measured, thoughtful existence’


With more than three weeks in space on this mission, Hadfield has now surpassed the 20 days of experience he accumulated in two decades as a Canadian Space Agency astronaut.


Living on station for long periods of time allows people not to rush, and to savour the experience a bit more than during jam-packed shuttle missions, he said.


“[I am] able to have a measured, thoughtful existence to absorb what it is like,” he said.


Hadfield also took time to relax in between questions. He playfully spun a roll of duct tape in front of the camera. At times, he squatted on a wall of the U.S. Destiny laboratory where he was slated to do fluid experiments directly after the press conference.


In his limited spare time, Hadfield pledged he will continue to record guitar songs in space such as “Jewel in the Night”, which was written by his brother, Dave.


By the time his five-month mission is over, Hadfield quipped, he may have enough material to release an album.


Follow Elizabeth Howell @howellspace, or SPACE.com @Spacedotcom. We’re also on Facebook and Google+.


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.


The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.


Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.


An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.


"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


"What we're looking for is demand. Demand from small business owners, from consumers."


EARNINGS AND ECONOMIC EXPECTATIONS


Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.


Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.


Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.


Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.


HOUSING, INDUSTRIAL DATA ON TAP


Next week will also feature the release of a wide range of economic data.


Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.


Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.


Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.


"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."


POLITICAL ANXIETY


Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.


The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.


Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.


The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.


"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.


The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.


"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."


(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)



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EPA issues Shell violation notices






ANCHORAGE, Alaska (AP) — The Environmental Protection Agency has issued Royal Dutch Shell PLC notices of air quality violations for emissions involving its Arctic drilling operation in 2012.


The EPA late Thursday issued the notices saying that Shell violated permits for nitrous oxides emissions coming from its drill rig and drill ship. The federal agency says Shell had multiple permit violations for each ship.






The two ships are the drill rig Kulluk, which recently grounded near Kodiak Island when it was being towed to Seattle for maintenance and broke free in a storm. The damaged drill rig has been refloated and taken to a sheltered harbor. The drill ship Noble Discoverer remains in Seward after the Coast Guard found safety problems.


Shell is trying to revise its air permit to operate in the Arctic.


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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.


The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.


Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.


An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.


"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


"What we're looking for is demand. Demand from small business owners, from consumers."


EARNINGS AND ECONOMIC EXPECTATIONS


Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.


Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.


Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.


Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.


HOUSING, INDUSTRIAL DATA ON TAP


Next week will also feature the release of a wide range of economic data.


Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.


Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.


Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.


"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."


POLITICAL ANXIETY


Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.


The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.


Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.


The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.


"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.


The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.


"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."


(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)



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Stock futures flat ahead of Wells Fargo earnings


NEW YORK (Reuters) - Stock index futures were little changed on Friday, a day after the S&P 500 hit a five-year high and ahead of earnings from Wells Fargo, the first big bank to report this season.


The Japanese government approved a massive $117 billion of spending to revive the economy in the biggest stimulus since the financial crisis, a move that boosted optimism about the global outlook.


Basic materials shares could be hurt after China's annual consumer inflation rate picked up to a seven-month high, narrowing the scope for the central bank to boost the economy by easing monetary policy.


S&P 500 futures dipped 1 point and were slightly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 7 points, and Nasdaq 100 futures added 1 point.


American Express said it would cut about 5,400 jobs, or 8.5 percent of its workforce, as it restructures its business and pays legal bills.


Boeing's 787 Dreamliner jet suffered a cracked cockpit window and an oil leak on separate flights in Japan on Friday - the latest in a series of incidents to test confidence in the new aircraft. Shares fell 1.4 percent to $76 in premarket trading.


Best Buy shares fell 1.7 percent to $12.00 in premarket trading after it reported flat holiday sales at established U.S. stores.


The U.S. Commerce Department releases November international trade figures at 8:30 a.m. ET (1330 GMT). Economists in a Reuters poll expect a trade deficit of $41.3 billion in November against a gap of $42.24 billion in October.


At the same time, the Labor Department releases import-export prices for December. Economists forecast a 0.1 percent rise in imports and an unchanged reading for exports.


Federal Reserve Bank of Philadelphia President Charles Plosser speaks on the economic outlook before the New Jersey Economic Leadership Forum at 9:30 a.m. ET (1430 GMT).


(Reporting by Rodrigo Campos; Editing by Bernadette Baum)



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Cape Cod Ice to pay $225K to settle EPA complaint






EAST PROVIDENCE, R.I. (AP) — A cold storage and ice manufacturing company with facilities in East Providence, R.I. and Sandwich, Mass., has agreed to pay $ 225,000 to settle claims by the Environmental Protection Agency that it violated Clean Air Act requirements.


The EPA alleged in its complaint that Cape Cod Ice didn’t have a required risk management plan for ammonia used in the refrigeration system at its East Providence facility. The agency also said the company didn’t taken required precautions at its Sandwich facility to minimize the consequences of an accidental release of ammonia.






The case stemmed from a routine EPA inspection of the Sandwich facility in 2011. The settlement was announced Wednesday.


The company says it has completed all of the actions required by EPA and settled the case to avoid litigation of its appeals.


Energy News Headlines – Yahoo! News





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Stock futures gain as China data spurs growth hopes


NEW YORK (Reuters) - Stock index futures rose on Thursday, alongside other risk assets, as stronger-than-expected exports in China, the world's second-biggest economy, raised hopes for a more robust recovery in the global economy this year.


Data showed China's export growth rebounded sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown, even as demand from Europe and the United States remained subdued.


Adding to the bullish sentiment, Spanish benchmark government bond yields fell below 5 percent to a 10-month low on the back of a strong bond auction that raised more than the target amount.


"The market's more positive and it owes a lot of that to the Chinese economic data," said Art Hogan, managing director of Lazard Capital Markets in New York, adding that the success of the Spanish auction was also of note.


S&P 500 futures rose 4.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 25 points, and Nasdaq 100 futures added 5 points.


Traders await the Labor Department release of first-time claims for jobless benefits for the latest week at 8:30 a.m. ET (1330 GMT). Economists in a Reuters survey forecast a total of 365,000 new filings compared with 372,000 in the prior week.


The Commerce Department releases wholesale inventories for November at 10:00 a.m. ET (1500 GMT). Economists expect inventories to rise 0.3 percent, against a 0.6 percent increase in October.


Several Federal Reserve speakers are due to speak Thursday, including Kansas City Fed President Esther George and St. Louis Fed President James Bullard. Market participants are likely to pay close attention to their remarks following indications, in the minutes of the latest Fed meeting, that the Fed may halt its highly simulative asset purchases this year. The program has been one of the pillars of the strength in the equity market.


Shares of upscale jeweler Tiffany dropped 8.5 percent to $57.90 in premarket trading after it said earnings for the year through January 31 will be at the lower end of its forecast.


Molycorp shares dropped 6.4 percent to $10.10 in premarket trading after the company said revenue and cash flow would be lower than expected this year due to lower rare-earth prices.


Duke Realty Corp stock fell 1.9 percent to $14.29 in premarket trading after the company announced late on Wednesday an offering of 30 million shares.


(Reporting by Rodrigo Campos)



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Bad weather strands freed Iranians at Damascus airport






DAMASCUS, Syria – Bad weather has stranded Iranians freed by Syrian rebels at an airport in Damascus.


A Syrian official says the Iranians left the Damascus Sheraton hotel early Thursday. But the plane to take them home after months in captivity could not take off because of strong winds from a fierce winter storm that has hit the Middle East in recent days.






The official spoke on condition of anonymity because he was not authorized to give information to the media.


The rebels freed 48 Iranians on Wednesday in exchange for more than 2,000 prisoners held by Syrian authorities. It was the first major prisoner swap since the uprising began against President Bashar Assad nearly 22 months ago.


Weather News Headlines – Yahoo! News





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Stock futures rise after Alcoa starts earnings season


NEW YORK (Reuters) - Stock index futures rose modestly on Wednesday as Alcoa got the earnings season under way with better-than-expected revenue.


Alcoa Inc also gave a positive outlook for 2013, but kept a cautious tone as worries lingered over a looming U.S. budget confrontation. Shares of Alcoa, the largest aluminum producer in the United States, rose 2.5 percent to $9.33 in premarket trade.


Even with the encouraging Alcoa report, investors were wary about the outcome of the fourth-quarter earnings season. Profits were expected to beat the previous quarter's lackluster results, but analyst estimates were down sharply from October. Quarterly earnings were expected to grow by 2.7 percent, according to Thomson Reuters data.


Equities have pulled back over the last two sessions after last week's rally, which was spurred by the "fiscal cliff" deal in Washington.


"With the euphoria of the fiscal cliff deal wearing off, the market is looking for the next positive theme and the hope is that earning season can fill that need," said Andre Bakhos, director of market analytics at Lek Securities in New York.


"With expectations muted, any semblance of decent numbers could provide a robust upside potential."


S&P 500 futures rose 1.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 15 points, and Nasdaq 100 futures gained 0.50 point.


Dish Network Corp late Tuesday announced a bid for Clearwire Corp that trumped Sprint Nextel Corp's $2.2 billion offer, setting the stage for a battle over the wireless service provider.


Clearwire was up 8.9 percent at $3.18 in premarket trading, while Sprint lost 3.5 percent to $5.76.


Apple Inc is working on a lower-end iPhone, the Wall Street Journal reported, citing sources. The report comes as Apple's chief executive meets with partners and government officials in China.


Goldman Sachs Group Inc and Morgan Stanley are among a group of banks expected to agree as soon as this week to a $1.5 billion settlement with U.S. regulators over botched foreclosure claims, sources told Reuters on Tuesday.


Hard drive maker Seagate Technology rose 3.4 percent to $32.45 after it raised its second-quarter revenue forecast.


The biggest U.S. for-profit college company, Apollo Group Inc , reported lower student sign-ups for the third straight quarter and cut its operating profit forecast for 2013. Apollo's shares dropped 7.2 percent to $19.44.


(Editing by Kenneth Barry)



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Iconic Telescopes Threatened by Looming Budget Cuts






LONG BEACH, Calif. — With fiscal cliffs, debt ceilings and other financial woes facing the country, several iconic telescopes may lose funding and possibly even close.


The National Science Foundation (NSF) faces several years of stagnating or even shrinking funding, even as the bills for major new telescopes, such as the Atacama Large Millimeter Array (ALMA) in Chile’s Atacama Desert, come due.






As a result, some older telescopes, such as the Very Long Baseline Array and several at the Kitt Peak National Observatory, may not receive funding from NSF’s Division of Astronomical Sciences. While that doesn’t guarantee the telescopes’ closure, it almost certainly means that astronomers won’t be able to sign up for observation time on these majestic sky-watchers, said Daniel Eisenstein, an astronomer at Harvard University and co-author of a report on the NSF’s astronomy budget that recommended defunding the telescopes.


In fact, U.S. science agencies are in limbo after the fiscal deal finalized Jan. 1 delayed a decision on budget cuts for two more months.


“We’re fortunate to be constructing some major new facilities,” Eisenstein said. “That money has to come from somewhere, and the size of the pie is decreasing.”


Eisenstein’s team looked at two scenarios, discovering that, even in the best-case scenario, funding for astronomy would drop in the next few years and only rebound to the levels from fiscal years 2010 to 2012 in the year 2022. In the worst-case scenario, funding would drop by 20 percent relative to the last three years and stay at that lower level for the next decade. The committee didn’t foresee funding growing in even the most optimistic scenario.


At the same time, U.S. tabs for new projects like the ALMA, which will probe the heavens billions of light-years away, and Hawaii’s Advanced Technology Solar Telescope, which will study the sun, come due in the next five years. [See Amazing Photos from ALMA]


Eisenstein’s report recommended dropping funding for the Very Long Baseline Array, as well as several telescopes at the Kitt Peak National Observatory in Arizona, including the Mayall 4-meter telescope, the McMath-Pierce Solar Telescope, and the Wisconsin Indiana Yale 3.5-meter telescope. The Green Bank Telescope in West Virginia would also likely stop receiving funding by 2017, but final recommendations will have to come by the end of 2013 in order to work those closures into future budgets.


Instead, the report placed high priority on funding the Large Synoptic Survey Telescope, which photographs the entire sky, and continuing work on the Arecibo Observatory in Puerto Rico and Chile’s Victor Blanco 4-meter telescope, which holds a 570-megapixel dark-energy camera.


The cuts are necessary in order to prevent a catastrophic reduction in the number of individual grants available for astronomers, Eisenstein said.


Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.


Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Science News Headlines – Yahoo! News





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Stock futures flat ahead of earnings season start


NEW YORK (Reuters) - Stock index futures were little changed in low volume on Tuesday before the unofficial start of the earnings season, which is expected to show sluggish corporate growth.


Profits in the fourth quarter were expected to top the previous quarter's lackluster results, but analysts' current estimates are down sharply from where they were in October. Quarterly earnings are expected to grow by 2.8 percent, according to Thomson Reuters data.


German data showed industrial orders fell more than forecast in November due to a sharp drop in demand from abroad, reinforcing concerns that Europe's largest economy may have contracted in the fourth quarter of 2012.


"I'm surprised futures are holding up, given the relative disappointment that German data showed, but I think all eyes are on the beginning of earnings season," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


Monsanto Co , Apollo Group and Dow component Alcoa Inc start the quarterly season.


Monsanto shares rose 3.2 percent to $99 after announcing first-quarter results and the company's outlook.


"Alcoa is not a huge bellwether," Forrest said. Investors are now focused more on companies' performance than on macroeconomic factors, so "we should be kind of flat until we get some company-oriented news," she said.


S&P 500 futures were off 0.8 point and slightly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were unchanged, and Nasdaq 100 futures fell half a point.


Shares of Yum Brands Inc fell 5 percent to $64.50 in premarket trading a day after the KFC parent warned sales in China shrank more than expected in the fourth quarter.


Sears Holdings shares rose 5.5 percent to $45.27 in light premarket trading a day after the company said its chief executive will step down for family health reasons. The U.S. retailer also reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.


ConAgra Foods Inc priced a public offering of 8.1 million common shares at $29.75 per share, the foodmaker said on Monday. ConAgra closed at $30.17 during regular Monday trading.


(Reporting by Rodrigo Campos; Editing by Jeffrey Benkoe and Kenneth Barry)



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Owners say ferrets are pets, officials say pest






LOS ANGELES (AP) — The difference between owning a ferret in Hawaii and one in Pennsylvania can be up to three years in jail — and hundreds of thousands of dollars in fines.


That’s the penalty for ferret fans in the Aloha State, where the 3-pound members of the weasel and polecat family are banned amid concerns of the animals escaping and wreaking havoc on the islands’ delicate ecosystems. Similar fears are behind a decades-old ban in California, which has one of the nation’s most diverse ecosystems.






“The concern is that if these animals were released, like other non-native species have been, they would adapt and thrive and out-compete native species for food, and prey on native species,” said Adrianna Shea, deputy director of California’s Fish and Game Commission.


States have had problems with feral animals in nonnative environments, creating problems for native species by eating them or ravaging their food supply. Feral cats, for example, have decimated bird populations. In Hawaii, the introduction of the mongoose to combat a rat problem “was a very poor idea. Rats are nocturnal and mongooses are diurnal. They only saw each other for a short period between dusk and dawn,” said Minami Keevin, a land vertebrate specialist with the Hawaii Department of Agriculture.


But ferret fans argue that the foot-long domesticated creatures make excellent pets and shouldn’t be regulated by wildlife agencies.


“Ferrets are really wonderful animals for those of us who are so inclined. They are messy, and they’re expensive, and they’re demanding, but they are full of personality, full of love and full of joy,” said Pat Wright, who lives in La Mesa, near San Diego, and has been fighting California’s ban for nearly 20 years.


Keeping a ferret as a pet takes more time, care and money than owning a dog or cat. The American Veterinary Medical Association in Schaumburg, Ill., which recently posted a YouTube video on pet ferrets, noted that they need to be caged most of the time, require hours of exercise and emit a musky odor that many people find unpleasant. Large cages are expensive, but on the other hand, ferrets don’t require as much medical or dental care as cats or dogs.


“They are wonderful little clowns that not only steal your heart but they will steal anything they deem is theirs. This includes your shoes, socks, pens, pencils, hairbrushes, potatoes, car keys, wallets and clothing. I had two ferrets that tried to take my notebook computer to what is called their hidey-hole,” said AmyJo Casner of Harrisville, Pa., who legally owns ferrets Manny, Marcuz, and Marylin.


Their antics are better than antidepressants, said Casner, whose pets inspired her to start a ferret clothing line that she sells online.


A count of ferret owners across the U.S. was unavailable, but the American Pet Products Association said that in 1992, 2 percent of people who owned a small animal like a mouse, rat, ferret, gerbil, rabbit, hamster or guinea pig said they had a ferret. In 2000, 10 percent of small-animal owners said they had a ferret, and 7 percent in 2010 had them. That’s despite bans in the two states, plus a number of large cities including New York, and U.S. military bases.


In California, where having a ferret can net a $ 500 fine or six months in jail, Wright estimated between 50,000 and 500,000 pet ferrets live a clandestine existence. His guess is based on ferret-supply sales and a 5,000-member mailing list for his ferret legalization cause.


Shea, who said Fish and Game has never tried to verify those numbers, said California doesn’t have enough game wardens to chase violators, so the ban is not strictly enforced. Billboards close to the borders of Arizona and Nevada point motorists in the direction of ferret sellers. And most pet stores in California carry ferret food and supplies.


But the issue is taken seriously in Hawaii, where every report of a ferret is checked. One captured last year in Hilo was turned over to the Hawaii Island Humane Society, flown to Honolulu and quarantined until it could be shipped out of state. The penalty for importing, selling or possessing a ferret in Hawaii is a fine up to $ 200,000 and as many as three years in jail.


Dr. Valarie Tynes, a veterinarian with the AVMA, said breeders who spay and neuter ferrets before selling them could allay states’ concerns that the animals could escape and procreate.


“I think there have been concerns by some that if ferrets got loose, they might thrive in the wild in the United States and possibly be damaging to native populations,” she said. “I think it’s interesting, as long as they’ve been pets, I’ve never heard of any place that’s happened.”


California’s 80-year-old ban can be changed by commission vote or legislation, and there have been six attempts at a bill since 1994. A 2004 proposal came closest when it reached the desk of the governor — Arnold Schwarzenegger, who appeared with a ferret in “Kindergarten Cop.” He vetoed it.


Wright is looking for another lawmaker willing to sponsor a new round of legislation, but conceded that task alone was difficult. With legislators facing issues like the budget, gun control and health care, he noted, anyone who goes to bat for ferrets will probably be mocked.


___


Online:


http://www.avma.org


Animal and Pets News Headlines – Yahoo! News





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Stock futures slip after stocks hit five-year high


NEW YORK (Reuters) - Stock index futures fell on Monday, with markets expected to consolidate after the S&P 500 index closed at a five-year high on Friday.


Last week was the best for U.S. stocks in more than a year as a budget deal and economic data boosted investor confidence.


Financial shares will be in focus a day after global regulators gave banks four more years and greater flexibility to build up cash buffers, scaling back moves that aimed to help prevent another financial crisis.


By spurring credit, the easing of the bank rule may help support growth, boosting investments in equities and other risk assets.


S&P 500 futures dipped 1.3 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 13 points, and Nasdaq 100 futures added 1 point.


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.


Video-streaming service Netflix Inc said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.


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.


Amazon shares rose 2.3 percent in premarket trading after Morgan Stanley raised is rating on the stock to "overweight" from "equal weight."


(Reporting by Rodrigo Campos; Editing by Kenneth Barry)



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