Stock futures mixed on "cliff" optimism, fall in Apple

NEW YORK (Reuters) - Wall Street was set to open higher on Monday as investors were encouraged by signs of movement on "fiscal cliff" negotiations over the weekend.

Republican House Speaker John Boehner edged slightly closer to President Barack Obama's key demands as they try to avert the tax hikes and spending cuts that are set to take effect in the new year.

Sources familiar with the talks confirmed that Boehner proposed extending low tax rates for everyone who has earned less than $1 million, and rates would rise for wages above that. But Boehner's new positions were still far from those held by Obama.

"It does solidify that a deal is very close and it could be announced by the end of this week," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. "We could be surprised. We could actually have a Santa gift that a deal has been reached."

Uncertainty over when and if a federal budget deal will be done has kept investors cautious in what is already a normally quiet trading period heading into year-end.

Investors are worried the economy could slide back into recession if the full brunt of the tax and spending changes is allowed, though most expect a deal will eventually be reached.

Monday's economic data was less cheery as manufacturing activity in the New York region declined for a fifth month in a row in December.

S&P 500 futures rose 5.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures gained 33 points and Nasdaq 100 futures added 11 points.

If the S&P 500 sustains its gains through the session, the index would snap a two-day losing streak. Despite the uncertainty of fiscal cliff talks, the S&P has performed well in the last month, grinding higher in mostly light volume.

Clearwire Corp agreed to sell the rest of the company to Sprint Nextel Corp for a slightly sweeter $2.2 billion offer, days after minority shareholders criticized the previous bid as too low. Clearwire tumbled 8.6 percent to $3.08, while Sprint was up 1.8 percent at $5.65.

Apple Inc reversed earlier losses in premarket action and was up 0.5 percent at $512.23 even as Citigroup cut its rating to 'neutral' from 'buy' and slashed its price target to $575 from $675.

Apple shares have tumbled nearly 30 percent in about three months, losing 3.8 percent on Friday alone and helping lead the overall market lower.

The tech giant said it sold more than 2 million of its new iPhone 5 smartphones in China during the three days after its launch there on Friday, but the figures did not ease worries about stiffer competition.

American International Group Inc may raise as much as $6.5 billion from the sale of its remaining stake in AIA Group Ltd, exiting a business the U.S. insurer started nearly 100 years ago. AIG was up 1.7 percent at $34.44.

Networking equipment company Cisco Systems Inc has hired Barclays to sell its Linksys home router unit, a report said on Sunday.

(Editing by Kenneth Barry)

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10 Afghan Girls Killed in Old Mine Blast; Car Bomb Kills One in Kabul

Parwiz/Reuters

Afghan villagers gathered around the bodies of girls who were killed by an explosion on Monday.

KABUL, Afghanistan — A suicide bomber driving a car packed with explosives targeted the compound of a private military contractor on the eastern outskirts of Kabul on Monday, killing at least one person and injuring at least 15 others, including foreigners, the police said.

In a separate episode, 10 girls were killed in a rural district of eastern Afghanistan on Monday when a roadside bomb exploded while they were collecting firewood, the Afghan police said. The office of the governor of Nangarhar Province said the girls were all between 9 and 11 years old. The Ministry of Education said some were as young as 6.

The Kabul explosion sent a large plume of smoke above the capital on the Jalalabad road, a main thoroughfare leading east out of the city lined with shops, yards and industrial units.

The target was a company called Contrack International, said Gen. Mohammed Dawood Amin, Kabul’s deputy chief of police. Officials said Contrack was a construction maintenance company that provided logistics services for the Afghan Army and police and NATO coalition bases.

“There was a blast, a boom and a wall fell down,” said Roheen Fedai, 19, who said he worked in the company’s call center. Shortly after the blast, he was wandering close to the compound with his hand in a bandage and blood on his face from an eye injury.

The car exploded in a small lane between the company and another compound housing a carton-making factory, blasting down walls and destroying a two-story office.

Barialyia, a security official for Contrack, said the company’s country director was wounded in the explosion. He said five American and South African citizens were among the injured.

Mr. Fedai said Contrack was an American-owned supplier to the Afghan military. Officials here also said the company was American-owned, but the company could not be reached to confirm this or other details about the attack. Its Web site says its headquarters are in McLean, Va., and shows that it has provided services for the United States military in the past.

The compound is close to a NATO base, Camp Phoenix, and other NATO installations. The Taliban claimed responsibility, but a coalition spokesman in Kabul, Lt. Col. Hagen Messer, said the attack did not affect the NATO bases, and there were no coalition casualties.

In the blast in eastern Afghanistan, Hazarat Hussain Masharaqiwal, a spokesman for the police chief of Nangarhar Province, said that the children discovered the unexploded bomb near their village, and that it went off when they hit it with an ax. The explosion also injured a boy who was with them.

The local police said the bomb probably dated from the civil war or even the Soviet occupation of the country.

The United States-led International Security Assistance Force in Afghanistan said the explosion was caused by the accidental triggering of an old land mine, quoting the governor of Chaparhar District in Nangarhar.

In a statement, Gen. John R. Allen, the commander of American and international forces in Afghanistan, said he was saddened by the girls’ deaths. “Over three decades of conflict, Afghanistan became one of the most heavily mined countries on earth,” he said.

Sharifullah Sahak contributed reporting from Kabul, Afghanistan, and Khalid Alokozai from Nangarhar.

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Modern Etiquette: A bit of netiquette will keep Christmas real

LONDON (Reuters) – Christmas is a convivial time of year when people get together for celebrations and conversation. It’s all about human contact so it’s important that you’re discriminating about how you use your digital devices.

It’s fine if they’re used to facilitate get-togethers and spread seasonal cheer. But Christmas is a real, not a virtual event, so it’s important to discard the phones, tablets and computers and enjoy festive celebrations in the real world.

Christmas cards are still an invaluable and personal way of keeping in touch with far-flung friends and relations.

In these straitened times, however, you might want to cut down the number of cards you send, so it’s fine to explain to your nearest and dearest that you won’t be sending them cards – a personalized seasonal message by text, phone call or email, sent out to individuals, is quite acceptable.

Avoid sending out generic e-cards. They’re lazy and impersonal, and many people will find them lacking in Christmas spirit or just baffling.

If you’re emailing instead of sending a Christmas card, make sure that you send out unique – and individual – messages to each of your recipients. Group emails, like round robins, are to be avoided.

It’s fine to put general seasonal messages on social networking sites, but avoid posting compromising photos.

This is the time of year when we all let our hair down, but not everyone will appreciate the evidence being posted for all to see in cyberspace.

Don’t get too carried away with seasonal cyber-cheer. Spamming your friends and followers with endless Christmas wishes and updates will soon get tedious.

Christmas Day is all about socializing with family and friends, and enjoying good food and good conversation. So don’t spend the big day glued to your phone, rather than interacting with your family.

Ban all phones from the Christmas table.

Eating together is all about sociability and it’s a real insult to the host and/or cook to be transfixed by your texts rather than the turkey and table talk.

Be a good digital host.

Technology is part of our everyday life and Christmas is no exception. If you have friends or family staying in your home, make sure that you have your WiFi password to hand. Offer them access to your network, and hope that everyone adheres to good festive netiquette.

Christmas is the perfect time to make a video call, but choose your timing carefully. Nobody wants to be talking to virtual visitors during lunch or present opening.

Remember the power of the written word.

If you are the lucky recipient of a generous present or lavish hospitality, then hand-writing a proper thank you letter is a much more elegant gesture than texting or emailing, and will be noted and appreciated. It is fine to email or text your thanks for small presents.

(This story has been refiled to fix dateline)

(Jo Bryant is an etiquette advisor and editor at Debrett’s, the UK authority on etiquette and modern manners (www.debretts.com). Any opinions expressed are her own. Debrett’s “Netiquette” is a definitive guide to digital dilemmas and outlines a code of manners for modern communication.)

(Editing by Paul Casciato)

Internet News Headlines – Yahoo! News

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Hillary Clinton Recovering at Home from Concussion

By Andrea Billups

12/17/2012 at 08:35 AM EST

Feel better, Hillary!

Secretary of State Hillary Clinton continues to recover from a concussion she suffered after falling early last week in her Washington, D.C., home.

She was alone at the time she passed out and her concussion was not diagnosed until days later.

The concussion was not severe, her doctors said, reports and was due to dehydration suffered after a trip the former first lady took to Europe, NBC News.

Her fall will keep Clinton, who continues to be discussed as a possible presidential contender for 2016, from testifying before Congress on the attack in September in Benghazi, Libya, that killed U.S. Ambassador Chris Stevens and two Navy Seals.

"She has been recovering at home and will continue to be monitored regularly by her doctors," the State Department said in a statement this weekend. "At their recommendation, she will continue to work from home next week, staying in regular contact with Department and other officials."

Clinton, 65, who last week was named one of Barbara Walters's 10 most-fascinating people, plans to step down from her secretary post early next year. U.S. Senator John Kerry, a Democrat from Massachusetts, will reportedly be named by the Obama administration as her replacement.

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Experts: No link between Asperger's, violence

NEW YORK (AP) — While an official has said that the 20-year-old gunman in the Connecticut school shooting had Asperger's syndrome, experts say there is no connection between the disorder and violence.

Asperger's is a mild form of autism often characterized by social awkwardness.

"There really is no clear association between Asperger's and violent behavior," said psychologist Elizabeth Laugeson, an assistant clinical professor at the University of California, Los Angeles.

Little is known about Adam Lanza, identified by police as the shooter in the Friday massacre at a Newtown, Conn., elementary school. He fatally shot his mother before going to the school and killing 20 young children, six adults and himself, authorities said.

A law enforcement official, speaking on condition of anonymity because the person was not authorized to discuss the unfolding investigation, said Lanza had been diagnosed with Asperger's.

High school classmates and others have described him as bright but painfully shy, anxious and a loner. Those kinds of symptoms are consistent with Asperger's, said psychologist Eric Butter of Nationwide Children's Hospital in Columbus, Ohio, who treats autism, including Asperger's, but has no knowledge of Lanza's case.

Research suggests people with autism do have a higher rate of aggressive behavior — outbursts, shoving or pushing or angry shouting — than the general population, he said.

"But we are not talking about the kind of planned and intentional type of violence we have seen at Newtown," he said in an email.

"These types of tragedies have occurred at the hands of individuals with many different types of personalities and psychological profiles," he added.

Autism is a developmental disorder that can range from mild to severe. Asperger's generally is thought of as a mild form. Both autism and Asperger's can be characterized by poor social skills, repetitive behavior or interests and problems communicating. Unlike classic autism, Asperger's does not typically involve delays in mental development or speech.

Experts say those with autism and related disorders are sometimes diagnosed with other mental health problems, such as depression, anxiety, bipolar disorder or obsessive-compulsive disorder.

"I think it's far more likely that what happened may have more to do with some other kind of mental health condition like depression or anxiety rather than Asperger's," Laugeson said.

She said those with Asperger's tend to focus on rules and be very law-abiding.

"There's something more to this," she said. "We just don't know what that is yet."

After much debate, the term Asperger's is being dropped from the diagnostic manual used by the nation's psychiatrists. In changes approved earlier this month, Asperger's will be incorporated under the umbrella term "autism spectrum disorder" for all the ranges of autism.

__

AP Writer Matt Apuzzo contributed to this report.

___

Online:

Asperger's information: http://1.usa.gov/3tGSp5

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Wall Street Week Ahead: Holiday "on standby" as clock ticks on cliff

NEW YORK (Reuters) - The last two weeks of December are traditionally quiet for stocks, but traders accustomed to a bit of time off are staying close to their mobile devices, thanks to the "fiscal cliff."

Last-minute negotiations in Washington on the so-called fiscal cliff - nearly $600 billion of tax increases and spending cuts set to take effect in January that could cause a sharp slowdown in growth or even a recession - are keeping some traders and analysts from taking Christmas holidays because any deal could have a big impact on markets.

"A lot of firms are saying to their trading desks, 'You can take days off for Christmas, but you are on standby to come in if anything happens.' This is certainly different from previous years, especially around this time of the year when things are supposed to be slowing down," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade in Chicago.

"Next week is going to be a Capitol Hill-driven market."

With talks between President Barack Obama and House Speaker John Boehner at an apparent standstill, it was increasingly likely that Washington will not come up with a deal before January 1.

Gordon Charlop, managing director at Rosenblatt Securities in New York, will also be on standby for the holiday season.

"It's a 'Look guys, let's just rotate and be sensible" type of situation going on," Charlop said.

"We are hopeful there is some resolution down there, but it seems to me they continue to walk that political tightrope... rather than coming up with something."

Despite concerns that the deadline will pass without a deal, the S&P 500 has held its ground with a 12.4 percent gain for the year. For this week, though, the S&P 500 fell 0.3 percent.

BEWARE OF THE WITCH

This coming Friday will mark the last so-called "quadruple witching" day of the year, when contracts for stock options, single stock futures, stock index options and stock index futures all expire. This could make trading more volatile.

"We could see some heavy selling as there is going to be a lot of re-establishing of positions, reallocation of assets before the year-end," Kinahan said.

RETHINKING APPLE

Higher tax rates on capital gains and dividends are part of the automatic tax increases that will go into effect next year, if Congress and the White House don't come up with a solution to avert the fiscal cliff. That possibility could give investors an incentive to unload certain stocks in some tax-related selling by December 31.

Some market participants said tax-related selling may be behind the weaker trend in the stock price of market leader Apple . Apple's stock has lost a quarter of its value since it hit a lifetime high of $705.07 on September 21.

On Friday, the stock fell 3.8 percent to $509.79 after the iPhone 5 got a chilly reception at its debut in China and two analysts cut shipment forecasts. But the stock is still up nearly 26 percent for the year.

"If you owned Apple for a long time, you should be thinking about reallocation as there will be changes in taxes and other regulations next year, although we don't really know which rules to play by yet," Kinahan said.

But one indicator of the market's reduced concern about the fiscal cliff compared with a few weeks ago, is the defense sector, which will be hit hard if the spending cuts take effect. The PHLX Defense Sector Index <.dfx> is up nearly 13 percent for the year, and sits just a few points from its 2012 high.

(Reporting by Angela Moon; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

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IHT Rendezvous: IHT Quick Read: Dec. 15

NEWS A 20-year-old man wearing combat gear and armed with pistols and a rifle killed 26 people — 20 of them children — in an attack in an elementary school in Newtown, Connecticut, before committing suicide on Friday. It was America’s second-deadliest school shooting, exceeded only by the 2007 Virginia Tech massacre. James Barron reports.

European Union leaders pledged on Friday to take further steps to set up common banking rules for the bloc, but they delayed plans for a shared budget for the euro zone nations as pressure appeared to be easing on the single currency. James Kanter reports from Brussels.

The lesson of Japan’s last major election, which ousted the long-dominant Liberal Democrats, was that a growing hunger for change had seemed to reach a threshold. But voters look ready to return that party to power Sunday, determined to punish the governing Democratic Party for failing to rein in bureaucracies and mishandling the 2011 nuclear crisis. Martin Fackler reports from Kanazawa, Japan.

At the global treaty conference on telecommunications in Dubai, the United States got most of what it wanted. But then it refused to sign the document and left in a huff. What was that all about, and what does it say about the future of the Internet? Eric Pfanner reports from Dubai.

The U.S. defense secretary, Leon E. Panetta, signed a deployment order on Friday to send 400 American military personnel and two Patriot air defense batteries to Turkey as its tensions intensify with neighboring Syria. Germany and the Netherlands will also send Patriot batteries. Thom Shanker and Michael R. Gordon report.

Xi Jinping, the new Communist Party chief and civilian commander of the Chinese military, is moving quickly to make strengthening the country’s armed forces a centerpiece of what he calls the “Chinese dream” of national rejuvenation. Edward Wong reports from Guangzhou.

Nearly a decade after the German government embarrassingly failed in an attempt to ban the country’s leading extreme-right political party, the upper house of Parliament on Friday voted to initiate a new effort to have the National Democratic Party deemed unconstitutional. Melissa Eddy reports from Berlin.

SPORTS It’s tough to find a place where this Olympic year didn’t leave a trace, from hermetic Saudi Arabia to tiny Grenada. But for Britain, 2012 was a true annus mirabilis, and the London Games were not the only force behind it. Christopher Clarey looks back.

ARTS Increasing scarcity of Old Masters continues to drive up prices, even in hard economic times, but some bargains of rare beauty can still be had. Souren Melikian writes from London.

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The Surface might be even more overpriced than the iPad

Everyone knows that Apple (AAPL) gets away with charging a premium for its wares because its fans have shown they’re willing to pay more money for their favorite products than fans of, say, Samsung (005930) and Amazon (AMZN) are willing to pay. This practice has led to enormous gross margins for Apple products but has not spawned many imitators because few companies command the sort of loyalty that Apple does. But Microsoft (MSFT) apparently believes it can pull off the trick with its Surface tablet, which is actually priced higher relative to its component costs than Apple’s iPad.

[More from BGR: Has the iPhone peaked? Apple’s iPhone 4S seen outselling iPhone 5]

Fortune uses some data from IHS iSuppli to show that the 32GB Surface’s screen, processor, battery, RAM and storage cost $ 271, or $ 22 less than the same components of a 32GB version of the new iPad. What this means is that based solely on the cost of its components, the Surface would haul in a profit of $ 315 for every 32GB Surface sold while Apple would make $ 296 for every new iPad sold. This doesn’t take into account manufacturing and marketing costs, of course, so we can’t look at it as a definitive count of each tablet’s gross margin.

[More from BGR: Sony’s PlayStation 4 could lose to the next Xbox before it’s even released]

All the same, Microsoft’s belief that it can grab iPad-like margins for the Surface stands in stark contrast with Amazon and Google (GOOG), who are making little if any money selling the Kindle Fire HD and the Nexus 7, respectively.

This article was originally published by BGR

Gadgets News Headlines – Yahoo! News

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Donald Faison Marries Cacee Cobb

By Lesley Messer

12/15/2012 at 08:25 PM EST

Cacee Cobb and Donald Faison

Dr. Billy Ingram/WireImage

It's official!

After six years together, Donald Faison and Cacee Cobb were married Saturday night at the Los Angeles home of his Scrubs costar Zach Braff.

Cobb's friend Jessica Simpson was a bridesmaid. Sister Ashlee Simpson also attended.

"What a happy day," Tweeted groomsman Joshua Radin, a singer, who posted a photo of himself with Faison and Braff in their tuxedos.

The couple got engaged in August 2011. At the time, Faison Tweeted, "If you like it then you better put a Ring on it," and Cobb replied, "If she likes it then she better say YES!!"

Since then, the couple had been hard at work planning their wedding. On Nov. 12, Faison, who currently stars on The Exes, Tweeted that they were tasting cocktails to be served on the big day.

"Alcohol tasting for the wedding!" he wrote, adding a photo of the drinks. "The [sic] Ain't Say It Was Going To Be Like This!!!"

This is the first marriage for Cobb. Faison was previously married to Lisa Askey, with whom he has three children. (He also has a son from a previous relationship.)

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Experts: No link between Asperger's, violence

NEW YORK (AP) — While an official has said that the 20-year-old gunman in the Connecticut school shooting had Asperger's syndrome, experts say there is no connection between the disorder and violence.

Asperger's is a mild form of autism often characterized by social awkwardness.

"There really is no clear association between Asperger's and violent behavior," said psychologist Elizabeth Laugeson, an assistant clinical professor at the University of California, Los Angeles.

Little is known about Adam Lanza, identified by police as the shooter in the Friday massacre at a Newtown, Conn., elementary school. He fatally shot his mother before going to the school and killing 20 young children, six adults and himself, authorities said.

A law enforcement official, speaking on condition of anonymity because the person was not authorized to discuss the unfolding investigation, said Lanza had been diagnosed with Asperger's.

High school classmates and others have described him as bright but painfully shy, anxious and a loner. Those kinds of symptoms are consistent with Asperger's, said psychologist Eric Butter of Nationwide Children's Hospital in Columbus, Ohio, who treats autism, including Asperger's, but has no knowledge of Lanza's case.

Research suggests people with autism do have a higher rate of aggressive behavior — outbursts, shoving or pushing or angry shouting — than the general population, he said.

"But we are not talking about the kind of planned and intentional type of violence we have seen at Newtown," he said in an email.

"These types of tragedies have occurred at the hands of individuals with many different types of personalities and psychological profiles," he added.

Autism is a developmental disorder that can range from mild to severe. Asperger's generally is thought of as a mild form. Both autism and Asperger's can be characterized by poor social skills, repetitive behavior or interests and problems communicating. Unlike classic autism, Asperger's does not typically involve delays in mental development or speech.

Experts say those with autism and related disorders are sometimes diagnosed with other mental health problems, such as depression, anxiety, bipolar disorder or obsessive-compulsive disorder.

"I think it's far more likely that what happened may have more to do with some other kind of mental health condition like depression or anxiety rather than Asperger's," Laugeson said.

She said those with Asperger's tend to focus on rules and be very law-abiding.

"There's something more to this," she said. "We just don't know what that is yet."

After much debate, the term Asperger's is being dropped from the diagnostic manual used by the nation's psychiatrists. In changes approved earlier this month, Asperger's will be incorporated under the umbrella term "autism spectrum disorder" for all the ranges of autism.

__

AP Writer Matt Apuzzo contributed to this report.

___

Online:

Asperger's information: http://1.usa.gov/3tGSp5

Read More..