Stock futures point to higher open after payrolls data

NEW YORK (Reuters) - Stock futures were poised to open higher Friday as a slight disappointment in the January payroll report was offset by a strong upward revision for jobs in December.

Employment grew modestly in January, with 157,000 added in the month, slightly below expectations for 160,000. Still, the December report was revised upward to 196,000 from 155,000, supporting views the U.S. economic recovery remained on track despite a surprise contraction in fourth-quarter gross domestic product.

"Nice revision upward, and this month came in right at the sweet spot where job growth is picking up, but not at the point where the Fed's quantitative easing program is threatened," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

The market may be vulnerable to a pullback at recent levels, and may see the S&P 500 coming off its best monthly performance since October 2011. However, declines may be limited, with investors having bought on dips over the past four weeks; the biggest daily drop on the S&P so far this year was just 0.39 percent.

"The market may be at something of a top here, but we are rising on improved economic fundamentals so the rally has been rational," said Luschini, who helps oversee $55 billion in assets.

Corporate earnings were also a focus for investors, with a trio of Dow components reporting profits that beat expectations.

Exxon Mobil Corp rose 0.7 percent to $90.60 in premarket trading after its results, and drugmaker Merck & Co fell 2.9 percent to $42. While Merck's profit was ahead of forecasts it gave a cautious outlook on 2013.

Chevron Corp rose 3 cents to $115.18 before the bell as its profit beat expectations.

S&P 500 futures rose 10.7 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 116 points and Nasdaq 100 futures rose 21.5 points.

The S&P advanced 5.1 percent in January, with gains driven by a sturdy start to the earnings season and a compromise in Washington that postponed the impact of a "fiscal cliff" of automatic spending cuts and tax hikes that were due to take effect early this year.

Of the 231 companies in the S&P 500 reporting earnings so far, 69.3 percent have exceeded expectations, according to Thomson Reuters data through Thursday morning. That is a higher proportion than over the past four quarters and above average since 1994.

Overall, S&P 500 fourth-quarter earnings rose 3.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season but well below a 9.9 percent profit growth forecast on October 1.

Other data due Friday include consumer sentiment, U.S. manufacturing, construction spending and car sales. January sentiment is seen edging slightly higher in the month while construction spending rises 0.6 percent in December.

U.S. stocks closed lower on Thursday amid investor caution ahead of the payroll report.

(Editing by Bernadette Baum)

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IHT Rendezvous: What's in a Name, Hurricane?

LONDON — Congratulations are in order for Blær Bjarkardóttir, the 15-year-old Icelandic girl who this week won the legal right to keep her given name in defiance of the despotic-sounding Icelandic Naming Committee.

Blær — its means “light breeze” in Icelandic — had sued authorities who refused to register her name because it was not on an approved list of 1,853 names that parents are allowed to give their female children.

The Reykjavík District Court found in her favor on Thursday, although it turned down her appeal for the equivalent of $4,000 in damages.

“I am very happy,” she said. “Finally, I’ll have the name ‘Blær’ in my passport.”

Iceland is among those states that keep a tight rein on naming conventions, in part to protect children from bearing a lifetime burden as the result of fanciful choices made in the first flush of parenthood.

How many Excels and Hurricanes are there who wish there had been an authoritarian Naming Committee around when they needed it?

In Germany, as in Iceland, unisex names are banned, while a first given name must not negatively affect the well-being of the child.

Danish parents can pick from an approved list of 7,000 male and female names, and any unusual choice is likely to be rejected. That has mercifully spared intended victims from ending up as Pluto and Monkey, according to David K. Israel at the Mental Floss website.

A Swedish couple once attempted to strike a blow for parents’ rights by naming their son Brfxxccxxmnpcccclllmmnprxvclmnckssqlbb11116 (pronounced “Albin”). Their appeal to the law was rejected and instead they received a $750 fine for not registering the boy before his fifth birthday.

“What’s in a name?” as Shakespeare’s Juliet asked. “That which we call a rose/By any other name would smell as sweet.”

Maybe. But would she have felt the same if her parents had called her Moxie CrimeFighter, like the daughter of Penn Jillette, the American magician?

Celebrity children appear to be particularly vulnerable. Bob Geldof, the Irish music star, charity fundraiser and father of four daughters, has a Peaches, a Pixie, a Fifi Trixibelle and a Heavenly Hiraani Tiger Lily Hutchence.

Parents in the United States are allowed to name their children pretty much what they like.

However, as Lisa Belkin wrote at the Motherlode parenting blog last year, Child Protective Services were called in when a couple in Easton, Pennsylvania, ordered a birthday cake for their little Adolf Hitler Campbell, brother of JoyceLynn Aryan Nation Campbell and Honszlynn Himmler Jeannie Campbell.

Annual lists of favorite names indicate most parents remain conservative in their choices. Lisa Belkin wrote that Emma, Isabella and Emily, and Jacob, Michael and Ethan, topped the U.S. list in 2011.

If you’re about to choose a name for your newborn, keep in mind a handy rule of thumb for naming cats: Never pick a name that you would be embarrassed to yell out of the window at midnight.

Let us know what you think: Should the state have a right to veto what a parent names a child? Is the banning of outlandish names an act of mercy? And if you have an unusual given name, is it a burden or a benefit?

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3 Things That Still Worry Me About BlackBerry

BlackBerry put on a pretty good show on Wednesday when it revealed the Z10 and the Q10, its first new smartphones in a year and a half. The demos were crisp, and the new BlackBerry 10 software looked clever. At the very least, it seems that BlackBerry has finally joined the modern smartphone era.

But despite my interest in BlackBerry’s new phones, I’m still worried about the future of the platform, and not merely because it’s been off the radar for a while. Looking at what BlackBerry did and didn’t announce, and what reviewers are saying about the product, gives me a few big reasons for concern:

Apps, Both Present and Future

BlackBerry deserves credit for having lots of apps out of the gate–more than 70,000, the company says–including some important ones like Twitter, Facebook, Angry Birds and The New York Times. Still, there are some big names missing from the list, including Netflix, YouTube, Spotify and Instagram. You can’t expect a new platform to have everything right away, though, so I don’t want to judge BlackBerry’s current app count too harshly.

It’s the future that I’m really worried about. What happens when the next Instagram comes out, and becomes a sensation on the iPhone and Android? Will BlackBerry be like Windows Phone–that is, just an afterthought in the minds of up-and-coming app developers? The good news is that Android apps are relatively easy to port to BlackBerry 10 (in fact, roughly 40 percent of those 70,000 launch apps are simple ports, ReadWrite notes), so RIM just has to convince developers to make a relatively small effort. We’ll see if they do.

Never Neglect Maps

The consensus among BlackBerry Z10 reviews is that its Maps app is subpar. The Verge complained about inaccurate data, and said the software couldn’t reliably find local businesses. CNet bemoaned a lack of features, such as walking directions, transit maps and street views. Apparently the software doesn’t even let you jump into the Maps app by tapping on an address or map in the web browser. That’s just basic stuff. At least the Maps app includes voice-guided turn-by-turn directions.

In any case, having a good mapping service isn’t just about telling you where to go. It’s about using your location to deliver useful information. Google Now, for instance, can warn you about traffic before your commute home, and Apple‘s Passbook can call up a boarding pass when you get to the airport. These days, a really good standalone Maps app is only part of the equation, and BlackBerry doesn’t even have that yet.

Voice Commands and Virtual Assistants

BlackBerry has added voice commands in its new phones, but the list of supported actions is paltry compared to what Android and the iPhone offer. You can’t ask for movie times, the weather forecast, directions, or things to do. You can’t tell the phone to start playing music, answer a trivia question, calculate numbers or set reminders.

You may argue that it doesn’t matter, that most people don’t rely too heavily on voice commands to begin with. I think that will change as these virtual assistants become faster and support more types of queries. They’ll also become more useful in automobiles–in fact, some car makers are now starting to integrate Siri–and they may some day play a big role in wearable computing, allowing you to communicate by voice when your phone is just out of reach. It’s still early days for this kind of technology, but Apple and Google already have a huge head start. BlackBerry, by comparison, is just getting started.

I’m not saying the new BlackBerry phones are no good, or that no one should use them. Like I said before, the software has some clever ideas, such as the Hub that combines all communications into one area, and the Balance feature that acts as a separate login for business use. But the smartphone industry moves quickly, and BlackBerry’s period of rebuilding has taken its toll in a few key areas. As with before, it’s going to be hard for the company to catch up.

MORE: Check out a video about the new hardware and features

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Drew Barrymore Wears Sweatpants She Finds on the Floor

Stylewatch
Style News Now

01/31/2013 at 09:00 AM ET

Daniel Jackson for Harper’s BAZAAR

If you take away the fact that she’s a multi-talented movie star, producer, former CoverGirl and current cosmetics mogul who got married in Chanel, we really have a ton in common with Drew Barrymore.

For instance, we share the same life motto. “I live for makeup and I like wine. These are my truths!” she says in the March issue of Harper’s Bazaar of the decision to start Flower Cosmetics and Barrymore Wines while pregnant with daughter Olive.

More revelations that we’re totally on board with? “I wear sweatpants than I find on the floor” (on why she didn’t want to start a fashion line, like many celebs) and “It’s my crusade to help women feel good about themselves” — something that we at PEOPLE StyleWatch fully relate to.

It’s to fulfill that mission that she started Flower in the first place, and why she’s been so involved in everything from the formula to the packaging: “It’s about … a girl watching her mom at a vanity table,” she says. “I wanted warmth and acceptance and self-love.” And if she achieves that with Flower while wearing homemade tie-dye yoga pants (you’ve got to read it to believe it), well, we’ll love her even more.

To read more on Drew Barrymore’s next big steps, click here and pick up the biggest-ever March issue of Harper’s Bazaar, on stands Feb. 12.

–Alex Apatoff

PHOTO: SHOP STAR LOOKS — FOR LESS!

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Hedgehog Alert! Prickly pets can carry salmonella

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

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

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

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

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

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

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

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

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

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

___

Online:

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

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Stock futures flat as earnings roll in; data on tap

NEW YORK (Reuters) - Stock futures were little changed on Thursday ahead of data on the labor market and a slew of corporate earnings reports.

Facebook Inc shares lost 4.6 percent to $29.83 in premarket trading. The company doubled its mobile advertising revenue in the fourth quarter but that growth trailed some of Wall Street's most aggressive estimates.

Qualcomm Inc gained 6.3 percent to $67.55 in premarket trading after the world's leading supplier of chips for cellphones beat analysts' expectations for quarterly profit and revenue and raised its financial targets for 2013.

Investors will look to weekly initial jobless claims data at 8:30 a.m. ET (1330 GMT) for clues on the health of the labor market ahead of the payrolls report on Friday. Economists in a Reuters survey forecast a total of 350,000 new filings compared with 330,000 in the prior week.

The S&P 500 <.spx> is up 5.3 percent for the month, as legislators in Washington temporarily sidestepped a "fiscal cliff" of automatic tax increases and spending cuts that could have derailed the economic recovery, and amid improving economic data and better-than-expected corporate earnings.

But the benchmark index has stalled recently and is virtually flat for the week, hovering near the 1,500 mark, as investors look for more catalysts to justify further gains.

"We've got a handful of economic data today that might move the needle for the market and we've got plenty to contemplate as we continue to get through a plethora of earnings reports as well, so I'm not surprised to see us sideways," said Art Hogan, managing director of Lazard Capital Markets in New York.

"Whether you look at the fears over sequestration (broad government spending cuts set to take effect March 1) which is next month's business, or you consider the jackrabbit start to the year that is not sustainable, or you start to contemplate the weak patches in the economic data stream that we have seen in pieces - all of that combines for a wall of worry for this market to climb and it's building."

Also at 8:30 a.m. (1330 GMT), the Commerce Department will release December personal income and spending data; economists expect a 0.8 percent rise in income and a 0.3 percent increase in spending.

United Parcel Service Inc lost 2.1 percent to $79.49 in premarket trading after the world's largest parcel delivery company reported a net loss in the fourth quarter after a $3 billion one-time charge from pension accounting, and forecast that 2013 earnings would rise 6 percent to 12 percent.

Later in the session at 9:45 a.m. (1445 GMT), the Institute for Supply Management Chicago releases January index of manufacturing activity. Economists in a Reuters survey forecast a reading of 50.5 compared with 50.0 in December.

S&P 500 futures fell 0.5 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 rose 5 points, and Nasdaq 100 futures lost 7 points.

Thomson Reuters data through Wednesday morning shows that of the 192 companies in the S&P 500 that have reported earnings this season, 68.8 percent have exceeded expectations, a higher proportion than over the past four quarters and above the average since 1994.

Overall, S&P 500 fourth-quarter earnings are forecast to have risen 3.8 percent. That's above the 1.9 percent forecast from the start of the earnings season, but well below a 9.9 percent fourth-quarter earnings growth forecast on October 1, the data showed.

WMS Industries Inc surged 56.2 percent to $25.57 in premarket after the company agreed to be acquired by Scientific Games Corp for $26 per share in cash. Scientific Games advanced 1.8 percent to $9.09.

(Editing by Bernadette Baum)

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U.N. Panel Says Israeli Settlement Policy Violates Law

GENEVA — Israel has used the expansion of Jewish settlements to pursue a creeping annexation of the occupied Palestinian territories and committed multiple violations of international law in its treatment of Palestinians, the United Nations Human Rights Council said in a report on Thursday that called for an immediate halt to all settlement activity.

Presenting its findings after a nearly six-month investigation, the panel of three women jurists led by a French judge, Christine Chanet, said Israel’s settlements had clearly violated the Geneva Conventions which prohibit a state from transferring its own civilian population into territory it has occupied.

Israel “must cease all settlement activities without preconditions” and begin the withdrawal of all settlers from the occupied territories, the jurists said their report, which is to be debated at the Human Rights Council in March.

The panel examined 67 submissions from academics, diplomats, Israeli civil society and Palestinians, Ms. Chanet said, but Israel refused to cooperate with the mission which was unable to visit the West Bank and instead went to the Jordanian capital, Amman, to hear testimony.

The Human Rights Council voted a year ago to investigate the impact of settlements on Palestinian rights, which prompted Israel to break off cooperation and castigate the panel as a political platform used “to bash and demonize Israel.” The report came two days after Israel boycotted the council’s review of Israel’s human rights record, becoming the first country to withhold cooperation from a process in which all 193 United Nations member states have previously engaged.

The United States also opposed creating the fact-finding mission on the grounds that “it does not advance the cause of peace and will distract the parties from efforts to resolve the issues that divide them.”

Washington has opposed Israel’s creation of further settlements and construction in East Jerusalem as “unhelpful” and an obstacle to a two-state solution of the Palestinian issue.

Reviewing Israel’s settlements policy since 1967, the panel said that Israel, with the full knowledge and compliance of successive governments, had established some 250 settlements in the West Bank and East Jerusalem since 1967 which now have an estimated 520,000 settlers and are growing much faster than the population of Israel. The result is “a mesh of construction and infrastructure leading to a creeping annexation that prevents the establishment of a contiguous and viable Palestinian state and undermines the right of the Palestinian people to self-determination,” the report said.

These actions fall under the jurisdiction of the International Criminal Court, the panel said, and if Palestine ratified the Rome Statute that created the court, Israel could be called to account for “gross violations of human rights law and serious violations of international humanitarian law,” the report said.

The settlements are maintained through “a system of total segregation” between the settlers, who enjoy a preferential legal status, and the rest of the population, the report said. It found Palestinian rights to freedom of movement, equality, due process of law and access to education, water, housing and natural resources “are being violated consistently and on a daily basis.”

The panel reported that violence and intimidation by “a small minority” of settlers continued with impunity and expressed grave concern at the high number of children who are detained. They were “invariably mistreated, denied due process and fair trial,” the report said and many were transferred to detention centers in Israel, also a violation of international law.

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Facebook slumps as mobile ad growth fails to impress

(Reuters) – Shares of Facebook Inc were set to open 7 percent lower on Thursday as a surge in fourth-quarter mobile advertising revenue failed to live up to Wall Street’s high expectations.

Three brokerages downgraded the stock of the No. 1 social network, which has struggled to develop a full-fledged mobile advertising business.

Facebook has long established itself as one of the most important websites, but investors have worried that until the company’s mobile advertising strategy takes off, revenue growth will remain shaky.

The company reported a better-than-expected fourth-quarter profit on Wednesday and said its mobile advertising revenue doubled to $ 306 million, suggesting it was making inroads into handheld devices such as smartphones and tablets.

Investors were looking for at least $ 350 million in mobile advertising revenue, Piper Jaffray analyst Gene Munster said in a note to clients.

“While the trajectory of mobile growth may not be as steep as some investors were hoping, the theme of mobile as the future of Facebook remains intact,” he said.

BMO Capital Markets analyst Daniel Salmon, who downgraded the stock to “market perform” from “outperform”, however said Facebook’s 2013 stock performance would not be dictated by its ability to generate mobile ad dollars.

He said new catalysts were necessary to drive Facebook’s stock price up.

Facebook’s stock, which has lost over a quarter of its value since its botched debut in May, were down at $ 29.08 in premarket trading. The shares closed at $ 31.24 on the Nasdaq on Wednesday.

(Reporting by Neha Alawadhi in Bangalore; Editing by Saumyadeb Chakrabarty)

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Kendra Wilkinson Fondly Remembers Hugh Hefner's Late Secretary

By Tim Nudd

01/31/2013 at 08:30 AM EST

Kendra Wilkinson and (inset) Mary O'Connor

Jason LaVeris/FilmMagic; Inset: Elayne Lodge

A friend, a confidante, a shoulder to cry on. Someone who brought a welcome dose of levity when things got heavy.

Mary O'Connor was many things to Kendra Wilkinson.

Now, the former star of The Girls Next Door has written down her fond memories of Playboy founder Hugh Hefner's longtime secretary – who died last weekend – in a heartfelt post on her website.

"I'm devastated to hear about the passing of Mary O'Connor," she writes. "She was almost like a therapist because we could talk to her about anything. When I lived at the mansion I was very close with her. Over the years, she helped me through a lot and was always there for me."

Wilkinson, 27, was particularly touched when O'Connor invited her along to her favorite place far from Los Angeles – Branson, Mo. "I felt so special that she invited me to her getaway with her and it was so nice to see where she went away to," Wilkinson says.

One of Wilkinson's favorite memories shows O'Connor's fun-loving side. "She showed up at my bridal shower wearing a shower cap, while all of my friends were in risqué outfits," Wilkinson recalls. "She also held my baby shower for [now 3-year-old son] Lil' Hank which is something I will always be thankful for."

Wilkinson adds: "She was a wonderful person and I wouldn't be the person I am without her."

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Sex to burn calories? Authors expose obesity myths

Fact or fiction? Sex burns a lot of calories. Snacking or skipping breakfast is bad. School gym classes make a big difference in kids' weight.

All are myths or at least presumptions that may not be true, say researchers who reviewed the science behind some widely held obesity beliefs and found it lacking.

Their report in Thursday's New England Journal of Medicine says dogma and fallacies are detracting from real solutions to the nation's weight problems.

"The evidence is what matters," and many feel-good ideas repeated by well-meaning health experts just don't have it, said the lead author, David Allison, a biostatistician at the University of Alabama at Birmingham.

Independent researchers say the authors have some valid points. But many of the report's authors also have deep financial ties to food, beverage and weight-loss product makers — the disclosures take up half a page of fine print in the journal.

"It raises questions about what the purpose of this paper is" and whether it's aimed at promoting drugs, meal replacement products and bariatric surgery as solutions, said Marion Nestle, a New York University professor of nutrition and food studies.

"The big issues in weight loss are how you change the food environment in order for people to make healthy choices," such as limits on soda sizes and marketing junk food to children, she said. Some of the myths they cite are "straw men" issues, she said.

But some are pretty interesting.

Sex, for instance. Not that people do it to try to lose weight, but claims that it burns 100 to 300 calories are common, Allison said. Yet the only study that scientifically measured the energy output found that sex lasted six minutes on average — "disappointing, isn't it?" — and burned a mere 21 calories, about as much as walking, he said.

That's for a man. The study was done in 1984 and didn't measure the women's experience.

Among the other myths or assumptions the authors cite, based on their review of the most rigorous studies on each topic:

—Small changes in diet or exercise lead to large, long-term weight changes. Fact: The body adapts to changes, so small steps to cut calories don't have the same effect over time, studies suggest. At least one outside expert agrees with the authors that the "small changes" concept is based on an "oversimplified" 3,500-calorie rule, that adding or cutting that many calories alters weight by one pound.

—School gym classes have a big impact on kids' weight. Fact: Classes typically are not long, often or intense enough to make much difference.

—Losing a lot of weight quickly is worse than losing a little slowly over the long term. Fact: Although many dieters regain weight, those who lose a lot to start with often end up at a lower weight than people who drop more modest amounts.

—Snacking leads to weight gain. Fact: No high quality studies support that, the authors say.

—Regularly eating breakfast helps prevent obesity. Fact: Two studies found no effect on weight and one suggested that the effect depended on whether people were used to skipping breakfast or not.

—Setting overly ambitious goals leads to frustration and less weight loss. Fact: Some studies suggest people do better with high goals.

Some things may not have the strongest evidence for preventing obesity but are good for other reasons, such as breastfeeding and eating plenty of fruits and vegetables, the authors write. And exercise helps prevent a host of health problems regardless of whether it helps a person shed weight.

"I agree with most of the points" except the authors' conclusions that meal replacement products and diet drugs work for battling obesity, said Dr. David Ludwig, a prominent obesity research with Boston Children's Hospital who has no industry ties. Most weight-loss drugs sold over the last century had to be recalled because of serious side effects, so "there's much more evidence of failure than success," he said.

___

Online:

Obesity info: http://www.cdc.gov/obesity/data/trends.html

New England Journal: http://www.nejm.org

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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