Wall Street edges up as bargain hunting offsets HP, France

NEW YORK (Reuters) – Stocks inched higher on Tuesday, reversing earlier declines after bargain hunters stepped in to buy beaten-down shares and offset the impact of Hewlett-Packard‘s accounting charge and France losing its triple-A credit rating.

The S&P 500 briefly dipped below its 200-day moving average at 1,382, but recovered to trade slightly above the key technical level, which is seen as a support mark.

Stocks rallied for the last two days on optimism that Washington politicians could agree on a deal to avoid the U.S. “fiscal cliff.” But the gains followed two weeks of sharp losses.

“We got into a very oversold condition on just about any indicator and then you had intraday reversals in just about all the indexes,” said Jeffrey Saut, Raymond James Financial‘s chief investment strategist in St. Petersburg, Florida.

Shares of McDonald’s shot up 1.3 percent to $ 86.11, leading the Dow industrials’ slim advance.

Moody’s Investors Service cut France’s sovereign rating by one notch to Aa1 after the market’s close on Monday, citing an uncertain fiscal outlook as a result of the weakening economy.

While the move was expected after Standard & Poor’s made a similar downgrade in January, it was a reminder of the headwinds buffeting the global economy and the danger of contagion by the euro zone’s debt crisis.

Hewlett-Packard Co shares tumbled 10.5 percent to a 10-year low at $ 11.91 as the computer and printer maker swung to a fourth-quarter loss. The company said it took an $ 8.8 billion charge related to its acquisition of software firm Autonomy, citing “serious accounting improprieties.

A bright spot for the economy came in data showing U.S. housing starts rose to their highest rate in more than four years in October, suggesting the housing market’s recovery was gathering momentum. The PHLX housing sector index <.HGX> jumped 2.4 percent, led by PulteGroup Inc , up 4.8 percent at $ 16.67.

The Dow Jones industrial average <.DJI> was up 10.34 points, or 0.08 percent, at 12,806.30. The Standard & Poor’s 500 Index <.SPX> was up 2.17 points, or 0.16 percent, at 1,389.06. The Nasdaq Composite Index <.IXIC> was up 3.41 points, or 0.12 percent, at 2,913.48.

The S&P 500 index had fallen 5.3 percent between election day two weeks ago and the start of the rebound as angst over a possible U.S. budget deal drove investors to sell stocks and limit the impact of expected tax increases on capital gains and dividends.

President Barack Obama and congressional leaders hope to start serious negotiations after the Thanksgiving holiday on Thursday to avoid the “fiscal cliff,” a series of mandatory tax hikes and spending cuts that would go into effect early next year – if a deal is not reached – and could push the U.S. economy back into recession.

(Additional reporting by Chuck Mikolajczak Editing by W Simon, Kenneth Barry and Jan Paschal)

Business News Headlines – Yahoo! News

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U.S. fiscal impact of great concern to Canada: Canada’s Harper

TORONTO (Reuters) – Any fiscal problems that would significantly slow the U.S. economy would be of great concern to Canada, Canadian Prime Minister Stephen Harper said on Monday.

The United States needed a credible medium-term fiscal plan, Harper said at a business forum in Ottawa, adding that he was following the U.S. fiscal debate with “great interest.”

(Reporting by Solarina Ho)

Canada News Headlines – Yahoo! News

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Interpublic exits Facebook

(Reuters) – Interpublic Group of Cos said it sold its remaining investment in Facebook Inc for $ 95 million in cash.

Interpublic said it expects to record a pre-tax gain of $ 94 million. It had recorded a pre-tax gain of $ 132.2 million for the third quarter of last year from the sale of half of its 0.4 percent stake in Facebook.

Interpublic paid less than $ 5 million for the stake in 2006.

Shares of Facebook, which debuted with a market value of more than $ 100 billion in May, have lost nearly half their value since then on concerns about money-making prospects.

“We decided to sell our remaining shares in Facebook as our investment was no longer strategic in nature,” Chief Executive Michael Roth said in a statement.

Interpublic also authorized an increase in its existing share repurchase program to $ 400 million from $ 300 million. The company repurchased shares worth $ 151 million, as of September 30.

Shares of the company were up 1 percent at $ 10 on the New York Stock Exchange on Tuesday.

Facebook shares were marginally up at $ 23.00 on the Nasdaq.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)

Internet News Headlines – Yahoo! News

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Phillip Phillips looks at life beyond “American Idol”

LOS ANGELES (Reuters) – Like the 10 winners before him, Phillip Phillips faces the uneven road from “American Idol” victor to pop-chart mainstay.

After the success of his Top 10 hit, “Home,” the Georgia native is facing a new challenge – to replicate the mainstream successes of past “Idol” winners Carrie Underwood and Kelly Clarkson on his debut album, “The World from the Side of the Moon,” released on Monday by Interscope Records.

Phillips, 22, spoke to Reuters about making his first proper studio album, what he might do differently on a second one, and whether he could have won “Idol” with this season’s panel of judges.

Q: How do you plan to transition from “American Idol” winner to a mainstream music career?

A: “It’s pretty funny that you mention that because the majority of the people I meet don’t even know that I was on ‘Idol.’ It’s really cool to hear that. When I go home, people ask, ‘What’ve you been doing? I’ve heard your song,’ but they don’t even know that I’ve been on ‘Idol.’”

Q: Your first single “Home” has gone twice platinum. You’ve said that it isn’t a song you would have written yourself. What’s your relationship now with your first hit?

A: “It’s amazing how well it has done, and I look at all the stories that I hear like how it has helped families out with their situation, or something’s happened with their kid, mom or dad, or if their child’s overseas in the war. Something like that’s pretty amazing how many different stories come out of it.”

Q: Did you have any ideas on how you wanted to develop your sound finally getting into a big-time studio?

A: “I already had the songs written, and it was just a matter of throwing in ideas and then just trimming it down to what felt right, because we only had three weeks to do this album. So it was kind of pressured, but that kind of helped out as well. It didn’t make us overthink anything.”

Q: Was there anything in particular you wanted to achieve?

A: “I wanted to make it similar to what I did on the show – a horn section and some rock. I tried to be a little artistic. I just wrote what came from my heart and what felt right.”

Q: Unlike many of the other contestants, you went into “Idol” as a songwriter, how many of the album’s songs did you write?

A: “I think five. Some of the co-writes, (the writers) really just kind of pushed me, so I kind of wrote most of those myself. But it was a lot of fun; it was a great experience.”

Q: Would you do anything differently next time?

A: “It’s still early, but I’d definitely want a little more time to do it. But that’s really about it, because three weeks is just really quick, and also I have just so many other things going on. … It was very kind of stressful and hopefully for the next record I’ll have a little more time.”

Q: What would that time allow you to do in the studio?

A: “Just being able to listen to it a little more. We all knew that it sounded really good but also having to listen to, like 17 songs in a row. You say, ‘Yeah that sounds great’ but you listen to it more and more and (say) ‘Maybe I would’ve brought this instrument down a little bit or brought it up a little bit more.’”

Q: Would you have fared any differently on ‘Idol’ with the current judges Nicky Minaj and Mariah Carey?

A: “I don’t know. I’m curious to see how they’re going to judge. It’s a completely different panel this year. … I don’t really know how I would’ve turned out. Maybe I’ll have to go out and audition again (laughs).”

Q: Would you have had to change your roots-y style?

A: “Naw, I would’ve still been the same dude. If they wouldn’t have sent me through, they wouldn’t have sent me through. And if they did, that’d be awesome.”

(Reporting By Eric Kelsey, editing by Jill Serjeant and Gunna Dickson)

Music News Headlines – Yahoo! News

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Women With Breast Cancer Wait Weeks Before Surgery

FIRST PERSON | New research shows that Medicare patients with breast cancer wait as long as 32 days before surgery. This wait is typical in the United States. It is not only older women that have a long wait. I first found a lump in my breast in September 2011. My first surgery was not until November 2011. The wait was not on my end — in northwest Arkansas, it takes at least three weeks to get an appointment with anyone.

The study

MedicalXpress reports that the Fox Chase Cancer Center published its findings in the Nov. 19, 2012 edition of The Journal of Clinical Oncology. The study evaluated data from over 72,000 Medicare patients with non-metastatic breast cancer and found that in 2005, at least half of the breast cancer patients waited a minimum of 32 days before having surgery. This data shows a marked increase from 21 days back in 1992.

Breast cancer diagnosis

It is interesting that they looked only at non-metastatic breast cancer. When you first go to see your doctor about a breast problem, like a lump, you have no idea if it is even cancer, much less if it has spread to other parts of the body. Diagnostic mammography, breast MRIs, and ultrasound cannot tell you if the area of concern is cancer. Only surgery can determine breast cancer — that means either a needle biopsy or other invasive procedures.

The waiting can kill you

Medicare had nothing to do with my time delays, as I have private insurance. I have non-metastatic breast cancer. It took 3 weeks to see my OBGYN, then it was another week before I had the imaging done. From there, it took three weeks to schedule a wire-guided surgical biopsy. I had the biopsy in mid-November 2011. It was then I received a cancer diagnosis and was told that it was a high-grade tumor — meaning it was very aggressive. At the same time of my diagnosis, my surgeon ordered more tests. We waited until late December 2011 to discuss a mastectomy. The wait was due to him wanting to see the results of genetic testing. Personally, I was uncomfortable with the long wait time.

Long waits are not just for Medicare recipients and for people in large metropolitan areas. Here in rural Arkansas, wait times are long because there is a shortage of physicians. The area is growing but the medical community is not keeping up with the growth. Patients like me who have serious medical conditions are traveling to other areas in order to get better care.

Lynda Altman was diagnosed with breast cancer in November 2011. She writes a series for Yahoo! Shine called “My Battle With Breast Cancer.”

Diseases/Conditions News Headlines – Yahoo! News

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Infographic: California’s Katrina?

The scenario is known as “California’s Katrina.” An earthquake or superstorm causes Gold Rush-era earthen levees to collapse. Saltwater from San Francisco Bay floods the Sacramento-San Joaquin River Delta, displacing half a million lowland Californians, poisoning the water supply for as many as 28 million more who live in Los Angeles, San Diego, and Silicon Valley, and ruining farmland that produces 11 percent of the nation’s agricultural value. The eighth-largest economy in the world could be sunk for months, even years.

There are two competing proposals to avert all this. The first is to bypass the delta with tunnels carrying fresh water to Southern California. The second is to upgrade the existing levees. A bill that would have required an official cost-benefit analysis of these approaches got shot down in the state legislature. Civil engineers at University of California at Davis don’t think the levees can be earthquake-proofed. Delta landowners, fearful the levees will no longer be maintained if the tunnels were built, have refused surveyors access to their land.

In this fight, if someone doesn’t win, everyone will lose.

Businessweek.com — Top News

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In Mark Cuban’s Humble Opinion, Facebook Still Kinda Sucks

Dallas Mavericks owner and billionaire Mark Cuban has confirmed reports from last week, in a post on his personal blog today, that he has a serious beef with Facebook. But before getting into all the reasons he no longer loves the social network, he clarifies one small point: “First, I’m not recommending to any of my companies that we leave facebook,” he writes. Last week ReadWriteWeb’s Dan Lyons kind of made it seem like Cuban planned to pull out altogether because of the way Facebook’s algorithm has affected the way people see his brands’s posts. The algorithm, Edgerank, controls brand posts so that not all fans are forced to see each one in their news feeds. Because of this, he quoted Cuban saying “We are moving far more aggressively into Twitter and reducing any and all emphasis on Facebook.” And later he had him talking about all the reasons he finds it horrible for businesses. Like, mainly, that it’s too expensive, a point that GigaOm’s Mathew Ingram called naive. “Really? That surprises you? What else did you think Facebook was going to do when it gave you a giant social platform for nothing?” Cuban now explains that he isn’t bailing on Facebook, just de-emphasizing it in favor of other Internet places, like Tumblr and Twitter. But, that does not mean that he does not hate Facebook as much as everyone has been saying he hates Facebook. He does.

RELATED: Shafted Facebook Founder Is Living Like a Kardashian in Singapore

You can read the laundry list of reasons over at his personal blog, but some highlights include:

RELATED: Eduardo Saverin May Be Barred from Returning to the U.S. After Renouncing Citizenship

• Its a time waster … FB doesn’t seem to want to accept that it’s best purpose in life is as a huge time suck. 


• IMHO, FB really risks screwing up something that is special in our lives as a time waster by thinking they have to make it more engaging and efficient.


• So by default you are not going to use your newsfeed as a primary source of information. It’s more like the township newspaper


• I also think that FB is making a big mistake by trying to play games with their original mission of connecting the world.  FB is a fascinating destination that is an amazing alternative to boredom which excels in its SIMPLICITY.  One of the threats in any business is that you outsmart yourself. FB has to be careful of just that.

Basically Mark Cuban thinks Facebook should stop trying to make money and stop trying to get too smart, which might work in the favor of Cuban who doesn’t want to spend too much money on something silly like social media. But,this doesn’t sound too appealing to Facebook, which as a public company needs to make money. Unless more join his cause, which could maybe happen. At least the Miami blog the 305 agrees with him. Anyone else? 

Social Media News Headlines – Yahoo! News

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Rock band AC/DC releases entire catalog on iTunes

NEW YORK (AP) — AC/DC is finally releasing its music digitally on iTunes.

Columbia Records and Apple announced Monday that the classic rock band’s music will be available at the iTunes Store worldwide. Sixteen studio albums will be released, including “High Voltage” and “Back in Black.”

AC/DC was one of the few acts that would not release music through the digital outlet. The Beatles and Kid Rock were also against selling music on iTunes, but have since jumped onboard. Country star Garth Brooks has yet to release his music on iTunes.

Four of AC/DC’s live albums and three compilation records are also available. The statement said the songs have been mastered for iTunes “with increased audio fidelity.”

Entertainment News Headlines – Yahoo! News

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Pre-ski fitness can protect against post-ski problems

NEW YORK (Reuters) – Skiing is a such a skill-based activity that if you don’t start learning until you are 20, it will take 20 years to learn.

But fitness experts say proper conditioning can make the difference between a fun weekend on the slopes and one waylaid by injury.

“Skiing first is technique,” said Robert Forster, a Los Angeles-based physical therapist and founder of Phase IV Scientific Health and Performance Center. “If your quads (muscles) are just burning up on the runs, then you’re not skiing right. That’s a good sign that you might need a lesson.”

To minimize fatigue and risk of injury, Forster, physical therapist to 42 Olympic medalists, suggests getting in ski-shape before hitting the slopes.

“All fitness begins with an aerobic base,” he said. “So six weeks before, start training with an elliptical trainer or stationary bike, or running or walking. Build up to 20 to 30 minutes three times a week.”

Aerobic training also strengthens muscles, Forster said, so any subsequent agility drills, such as running sideways or skipping, will be even more effective if you’ve established an aerobic base.

Stretch before skiing to protect against injury and enhance freedom of motion; stretch afterward to return the muscles to their normal length, said Forster.

He calls stretching the single most important thing people can do for body health maintenance.

“Connective tissue shortens with time,” he explained. “We stretch to maintain good alignment of the bones.”

If your skiing holiday lasts a week, limit your time on the slopes the first day, Forster suggests. And reconsider that dehydrating après-ski cocktail.

“We know that a glass of wine and a hot tub is not a good idea. Heat adds to inflammation. It will only increase swelling the next day,” he said.

Save that soak for the morning, and then not more than five minutes.

Ice down any sore spots or tight areas. “Ice is a great treatment for tightness,” he said.

Jessica Matthews, an exercise physiologist with the American Council on Exercise, suggests that even those already in good condition would benefit by integrating sports-specific pre-ski training into their workout.

“Prepare the body to move in short bursts,” said Matthews, who notes that skiing demands carving back and forth, rapid turns and sudden changes of direction.

She said it’s easy to set up fitness drills using plastic cones, which can be had at any sporting goods store.

“There’s great stuff you can do with cones,” she said. “Those newer to fitness can begin with stepovers, laterally, side to side. Those more seasoned can make them hops, or invent more intricate drills.”

For those who prefer to train in groups, the fitness company Equinox recently launched a class at its clubs called Core Values, which uses low parallel bars, called parallettes, and medicine balls to enhance mobility and stability skills.

“It’s geared to help sports people get in condition for their sport,” said Lisa Wheeler, who created the class to train across all ranges of motion.

“Even downhill, skiing is about rotation,” said Wheeler, an experienced skier. “Most people scoop right and left as they are going downhill.”

Falls account for 75 to 85 percent of all skiing injuries, according to the American College of Sports Medicine. Most common is damage to the knee.

Forster said even though more runners than skiers are injured every year, ski injuries tend to be more serious.

“Skiing has much more traumatic injuries that can have long-lasting effects,” he explained.

The National Areas Association, the trade association for ski area owners and operators, said U.S. ski areas tallied an estimated 51 million skier and snowboarder visits during the 2011-2012 season.

Forster advises skiers to assess themselves and the slopes before diving down the mountain.

“Is there fresh snow? Heavy, wet snow?” he said. “Be aware of conditions. Fatigue is a big factor. If I had a dollar for every client who got hurt on the last run …”

(Editing by Patricia Reaney and John Wallace)

Health News Headlines – Yahoo! News

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China approves Land Rover deal

18 November 2012 Last updated at 07:39 ET

Jaguar Land Rover is to make vehicles in China for the first time after Beijing approved a £1bn joint venture.

The West Midlands-based luxury carmaker agreed a “milestone” deal with Chery Automobile and will build a plant near Shanghai, which is due to open in 2015.

JLR said any cars produced would be in addition to its existing output, and it had no intention of moving its manufacturing base out of Britain.

Sales of JLR models in China have risen by 80% so far this year.

The company, owned by India’s Tata Motors, began talks with Chery months ago, but had been awaiting approval.

A joint statement released by the Chinese and British companies said: “We are delighted to have reached this milestone, achieved thanks to the understanding and foresight of the Chinese authorities and we want to thank them for recognising the potential of our joint venture in the fast-growing Chinese market.

“Together, we will now begin working in close collaboration on our partnership plans to harness the capabilities of our respective companies, to produce relevant, advanced models for Chinese consumers.”

JLR has not said officially which model would be built at the factory, although the company has said in the past that is likely to be either the Land Rover Freelander or Evoque.

A research and development facility and engine production plant will also built as part of the venture, with the main manufacturing plant expected to be completed during 2014, with production starting the following year.

With China now a crucial market for JLR, building vehicles in the country means it can avoid import duties.

However, JLR says that being in China will enable it to build vehicles designed specifically for the Chinese market.

BBC News – Business

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