RIM shares dive as fee changes catch market off guard

(Reuters) – Shares of BlackBerry maker Research In Motion Ltd dropped 20 percent on Friday on fears that a new fee structure for its high-margin services segment could put pressure on the business that has set the company apart from its competitors.

The shares were still more than 80 percent above the year’s low, which was hit in September. They started to rally in November as investors began to bet that RIM’s long-awaited new BlackBerry 10 phones, to be launched in January, would turn the company around.

The services segment has long been RIM’s most profitable and accounts for about a third of total revenue. Some analysts said there was a risk that the fee changes could endanger its service ecosystem and leave the Canadian company as just another handset maker.

The fee changes, which RIM announced on Thursday after the close, overshadowed stronger-than-expected quarterly results. The company said the new pricing structure would be introduced with the BlackBerry 10 launch, expected on January 30.

RIM said some subscribers would continue to pay for enhanced services such as advanced security. But under the new structure, some other services would account for less revenue, or even none at all.

Chief Executive Thorsten Heins tried to reassure investors in a television interview with CNBC on Friday, saying RIM’s “service revenue isn’t going away”.

He added: “We’re not stopping. We’re not halting. We’re transitioning.”

Since taking over at RIM in January, Heins has focused on shrinking the company and getting it ready to introduce its new BB10 devices, which RIM says will help it claw back ground it has lost to competitors such as Apple Inc and Samsung Electronics.

But the news of the new services pricing strategy came as a shock to markets, and some analysts cut their price targets on RIM stock.

RIM will not be able to sustain profitability by relying on its hardware business alone, said National Bank Financial analyst Kris Thompson, whom Thomson Reuters StarMine has rated the top RIM analyst based on the accuracy of his estimates of the company’s earnings.

Thompson downgraded RIM’s stock to “underperform” from “sector perform” and cut his price target to $ 10 from $ 15.

Forrester Research analyst Charles Golvin said the move was likely about stabilizing market share: “At the moment, they need to stem the bleeding.”

He said the tiered pricing might line up better with RIM’s subscriber base as it expands in emerging economies.

RIM’s Nasdaq-listed shares were down 19.8 percent at $ 11.32 on Friday afternoon. The stock was down 19.6 percent to C$ 11.21 on the Toronto Stock Exchange.

COUNTDOWN TO LAUNCH

The success of the BB10 will be crucial to the future of RIM, which on Thursday posted its first-ever decline in total subscribers. Heins said on CNBC that the company expected to ship millions of the new devices.

He cautioned that this will require heavy investment, which will reduce RIM’s cash position in its fourth and first quarters from $ 2.9 billion in its fiscal third quarter. He said, however, it would not go below $ 2 billion.

Still, doubts remain about whether RIM can pull off the transformation. Needham analyst Charlie Wolf said the BB10 would have to look meaningfully superior to its competitors for RIM to stage a comeback.

Canaccord Genuity analyst Michael Walkley said it was highly unlikely that the market would support RIM’s new mobile computing ecosystem, and he remained skeptical about the company’s ability to survive on its own.

“We believe RIM will eventually need to sell the company,” said Walkley, who cut his price target on RIM shares to $ 9 from $ 10.

Baird Equity Research analysts said BB10 faced a daunting uphill battle against products from Apple, as well as those using Google Inc’s Android operating system, and, increasingly, phones with Microsoft Corp’s Windows 8 operating system.

Baird maintained its “underperform” rating on the stock, while Paradigm Capital downgraded the shares to “hold” from “buy” on uncertainty around the services revenue model.

“RIM has gone from having one major aspect of uncertainty – BlackBerry 10 adoption – to two, given an uncertain floor on services revenue,” William Blair analyst Anil Doradla said.

RIM will have to discount BB10 devices significantly to maintain demand, Bernstein analyst Pierre Ferragu said.

The BlackBerry, however, still offers the security features that helped it build its reputation with big business and government, a selling point with some key customers.

Credit Suisse maintained its “neutral” rating on the stock, but not because it expected BB10 to be a big success.

“Only the potential for an outright sale of the company or a breakup keeps us at a neutral,” Credit Suisse analysts said.

Separately on Friday, ailing Finnish mobile phone maker Nokia said it had settled its patent dispute with RIM in return for payments. Nokia did not disclose detailed terms, but said the deal included a one-time payment to be booked in the fourth quarter, as well as ongoing fees, all to be paid by RIM. [ID:nL5E8NL22K]

($ 1=$ 0.98 Canadian)

(Reporting by Chandni Doulatramani in Bangalore and Allison Martell in Toronto. Additional reporting by Sinead Carew in New York; Editing by Ted Kerr, Dale Hudson, Janet Guttsman,; Lisa Von Ahn and Peter Galloway)

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Zoë Saldana's Early Christmas Gift: A New Rescue Dog!

People Pets

By Amy Jamieson

12/21/2012 at 02:30 PM EST

Zoe Saldana and her new dog Mugsy

Courtesy Zoe Saldana. Inset: Tony DiMaio/startraks

Christmas has come a few days early for Zoë Saldana.

The actress has received a gift in the form of a little white rescue pup that she adopted just days before the holiday.

"Meet Mugsy!!! Rescued her last week – my best friend named her – ha! She's adorable and super smart," Saldana Tweeted Thursday, with a photo of the wiry-haired pooch sitting in the passenger's seat of a car.

Perhaps spending timing with her boyfriend Bradley Cooper's dog Charlotte is what persuaded the The Words star to adopt a furry friend of her own. Saldana spent Thanksgiving walking outdoors with the white chow/retriever mix, who is definitely one of the leading ladies in Cooper's life.

"She has to like my dogs," The Hangover star told PEOPLE in 2009 of what he looks for in a potential girlfriend. "My dogs and I come in a package."

Here's hoping Charlotte and Mugsy have already hit it off!

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AP IMPACT: Big Pharma cashes in on HGH abuse

A federal crackdown on illicit foreign supplies of human growth hormone has failed to stop rampant misuse, and instead has driven record sales of the drug by some of the world's biggest pharmaceutical companies, an Associated Press investigation shows.

The crackdown, which began in 2006, reduced the illegal flow of unregulated supplies from China, India and Mexico.

But since then, Big Pharma has been satisfying the steady desires of U.S. users and abusers, including many who take the drug in the false hope of delaying the effects of aging.

From 2005 to 2011, inflation-adjusted sales of HGH were up 69 percent, according to an AP analysis of pharmaceutical company data collected by the research firm IMS Health. Sales of the average prescription drug rose just 12 percent in that same period.

___

EDITOR'S NOTE — Whether for athletics or age, Americans from teenagers to baby boomers are trying to get an edge by illegally using anabolic steroids and human growth hormone, despite well-documented risks. This is the second of a two-part series.

___

Unlike other prescription drugs, HGH may be prescribed only for specific uses. U.S. sales are limited by law to treat a rare growth defect in children and a handful of uncommon conditions like short bowel syndrome or Prader-Willi syndrome, a congenital disease that causes reduced muscle tone and a lack of hormones in sex glands.

The AP analysis, supplemented by interviews with experts, shows too many sales and too many prescriptions for the number of people known to be suffering from those ailments. At least half of last year's sales likely went to patients not legally allowed to get the drug. And U.S. pharmacies processed nearly double the expected number of prescriptions.

Peddled as an elixir of life capable of turning middle-aged bodies into lean machines, HGH — a synthesized form of the growth hormone made naturally by the human pituitary gland — winds up in the eager hands of affluent, aging users who hope to slow or even reverse the aging process.

Experts say these folks don't need the drug, and may be harmed by it. The supposed fountain-of-youth medicine can cause enlargement of breast tissue, carpal tunnel syndrome and swelling of hands and feet. Ironically, it also can contribute to aging ailments like heart disease and Type 2 diabetes.

Others in the medical establishment also are taking a fat piece of the profits — doctors who fudge prescriptions, as well as pharmacists and distributors who are content to look the other way. HGH also is sold directly without prescriptions, as new-age snake oil, to patients at anti-aging clinics that operate more like automated drug mills.

Years of raids, sports scandals and media attention haven't stopped major drugmakers from selling a whopping $1.4 billion worth of HGH in the U.S. last year. That's more than industry-wide annual gross sales for penicillin or prescription allergy medicine. Anti-aging HGH regimens vary greatly, with a yearly cost typically ranging from $6,000 to $12,000 for three to six self-injections per week.

Across the U.S., the medication is often dispensed through prescriptions based on improper diagnoses, carefully crafted to exploit wiggle room in the law restricting use of HGH, the AP found.

HGH is often promoted on the Internet with the same kind of before-and-after photos found in miracle diet ads, along with wildly hyped claims of rapid muscle growth, loss of fat, greater vigor, and other exaggerated benefits to adults far beyond their physical prime. Sales also are driven by the personal endorsement of celebrities such as actress Suzanne Somers.

Pharmacies that once risked prosecution for using unauthorized, foreign HGH — improperly labeled as raw pharmaceutical ingredients and smuggled across the border — now simply dispense name brands, often for the same banned uses. And usually with impunity.

Eight companies have been granted permission to market HGH by the U.S. Food and Drug Administration, which reviews the benefits and risks of new drug products. By contrast, three companies are approved for the diabetes drug insulin.

The No. 1 maker, Roche subsidiary Genentech, had nearly $400 million in HGH sales in the U.S. last year, up an inflation-adjusted two-thirds from 2005. Pfizer and Eli Lilly were second and third with $300 million and $220 million in sales, respectively, according to IMS Health. Pfizer now gets more revenue from its HGH brand, Genotropin, than from Zoloft, its well-known depression medicine that lost patent protection.

On their face, the numbers make no sense to the recognized hormone doctors known as endocrinologists who provide legitimate HGH treatment to a small number of patients.

Endocrinologists estimate there are fewer than 45,000 U.S. patients who might legitimately take HGH. They would be expected to use roughly 180,000 prescriptions or refills each year, given that typical patients get three months' worth of HGH at a time, according to doctors and distributors.

Yet U.S. pharmacies last year supplied almost twice that much HGH — 340,000 orders — according to AP's analysis of IMS Health data.

While doctors say more than 90 percent of legitimate patients are children with stunted growth, 40 percent of 442 U.S. side-effect cases tied to HGH over the last year involved people age 18 or older, according to an AP analysis of FDA data. The average adult's age in those cases was 53, far beyond the prime age for sports. The oldest patients were in their 80s.

Some of these medical records even give explicit hints of use to combat aging, justifying treatment with reasons like fatigue, bone thinning and "off-label," which means treatment of an unapproved condition

Even Medicare, the government health program for older Americans, allowed 22,169 HGH prescriptions in 2010, a five-year increase of 78 percent, according to data released by the Centers for Medicare and Medicaid Services in response to an AP public records request.

"There's no question: a lot gets out," said hormone specialist Dr. Mark Molitch of Northwestern University, who helped write medical standards meant to limit HGH treatment to legitimate patients.

And those figures don't include HGH sold directly by doctors without prescriptions at scores of anti-aging medical practices and clinics around the country. Those numbers could only be tallied by drug makers, who have declined to say how many patients they supply and for what conditions.

First marketed in 1985 for children with stunted growth, HGH was soon misappropriated by adults intent on exploiting its modest muscle- and bone-building qualities. Congress limited HGH distribution to the handful of rare conditions in an extraordinary 1990 law, overriding the generally unrestricted right of doctors to prescribe medicines as they see fit.

Despite the law, illicit HGH spread around the sports world in the 1990s, making deep inroads into bodybuilding, college athletics, and professional leagues from baseball to cycling. The even larger banned market among older adults has flourished more recently.

FDA regulations ban the sale of HGH as an anti-aging drug. In fact, since 1990, prescribing it for things like weight loss and strength conditioning has been punishable by 5 to 10 years in prison.

Steve Kleppe, of Scottsdale, Ariz., a restaurant entrepreneur who has taken HGH for almost 15 years to keep feeling young, said he noticed a price jump of about 25 percent after the block on imports. He now buys HGH directly from a doctor at an annual cost of about $8,000 for himself and the same amount for his wife.

Many older patients go for HGH treatment to scores of anti-aging practices and clinics heavily concentrated in retirement states like Florida, Nevada, Arizona and California.

These sites are affiliated with hundreds of doctors who are rarely endocrinologists. Instead, many tout certification by the American Board of Anti-Aging and Regenerative Medicine, though the medical establishment does not recognize the group's bona fides.

The clinics offer personalized programs of "age management" to business executives, affluent retirees, and other patients of means, sometimes coupled with the amenities of a vacation resort. The operations insist there are few, if any, side effects from HGH. Mainstream medical authorities say otherwise.

A 2007 review of 31 medical studies showed swelling in half of HGH patients, with joint pain or diabetes in more than a fifth. A French study of about 7,000 people who took HGH as children found a 30 percent higher risk of death from causes like bone tumors and stroke, stirring a health advisory from U.S. authorities.

For proof that the drug works, marketers turn to images like the memorable one of pot-bellied septuagenarian Dr. Jeffry Life, supposedly transformed into a ripped hulk of himself by his own program available at the upscale Las Vegas-based Cenegenics Elite Health. (He declined to be interviewed.)

These promoters of HGH say there is a connection between the drop-off in growth hormone levels through adulthood and the physical decline that begins in late middle age. Replace the hormone, they say, and the aging process slows.

"It's an easy ruse. People equate hormones with youth," said Dr. Tom Perls, a leading industry critic who does aging research at Boston University. "It's a marketing dream come true."

___

Associated Press Writer David B. Caruso reported from New York and AP National Writer Jeff Donn reported from Plymouth, Mass. AP Writer Troy Thibodeaux provided data analysis assistance from New Orleans.

___

AP's interactive on the HGH investigation: http://hosted.ap.org/interactives/2012/hgh

___

The AP National Investigative Team can be reached at investigate(at)ap.org

EDITOR'S NOTE _ Whether for athletics or age, Americans from teenagers to baby boomers are trying to get an edge by illegally using anabolic steroids and human growth hormone, despite well-documented risks. This is the second of a two-part series.

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Wall Street sinks as "fiscal cliff" fears escalate

NEW YORK (Reuters) - U.S. stocks slid on Friday after a Republican plan to avoid the "fiscal cliff" failed to gain support on Thursday night, shrinking hopes that a deal would be reached before the new year.

Trading was volatile as investors lost confidence in the prospect of a deal between the White House and Republicans. Lower volume ahead of the Christmas and New Year's holidays exaggerated market swings. The CBOE Volatility Index <.vix> or VIX, the market's favored anxiety measure, rose 5 percent to 18.56, but was off the day's high.

Republican House Speaker John Boehner failed to garner enough votes even from his own party to pass his "Plan B" tax bill late on Thursday. This was the latest setback in negotiations to avoid $600 billion in tax hikes and spending cuts that some say could tip the U.S. economy into recession.

"The failure with Plan B was disappointing, if not terribly surprising, but now there's a real lack of clarity about what will happen, and markets hate that," said Mike Hennessy, managing director of investments for Morgan Creek in Chapel Hill, North Carolina.

The day's biggest loser on the New York Stock Exchange was Herbalife , which dropped for an eighth straight session. Investor Bill Ackman recently ramped up his campaign against the company. Herbalife skidded 19 percent to $27.25 and has lost more than 35 percent this week.

Plan B, which called for tax increases on those who earn $1 million or more a year, was not going to pass the Democratic-led Senate or win acceptance from the White House anyway. But it exposed the reality that it will be difficult to get Republican support for the more expansive tax increases that President Barack Obama has urged.

Still, the declines of about 1 percent in the three major U.S. stock indexes suggest that investors do not believe the economy will be unduly damaged by the absence of a deal, said Mark Lehmann, president of JMP Securities, in San Francisco.

"You could have easily woken up today and seen the market down 300 or 400 points, and everyone would have said, 'That's telling you this is really dire,'" Lehmann said.

"I think if you get into mid-January and (the talks) keep going like this, you get worried, but I don't think we're going to get there."

Banking shares, which outperform in times of economic expansion and have led the market on signs of progress with resolving the fiscal impasse, led declines. Citigroup Inc fell 2 percent to $39.35, while Bank of America slid 2.3 percent to $11.25. The KBW Banks index <.bkx> lost 1.4 percent.

The Dow Jones industrial average <.dji> dropped 142.29 points, or 1.07 percent, to 13,169.43. The Standard & Poor's 500 Index <.spx> dropped 15.69 points, or 1.09 percent, to 1,428.00. The Nasdaq Composite Index <.ixic> dropped 39.23 points, or 1.29 percent, to 3,011.15.

Even with the day's declines, the S&P 500 is up nearly 1 percent for the week and about 13 percent for the year.

The day's round of data indicated the economy was surprisingly resilient in November; consumer spending rose by the most in three years and a gauge of business investment jumped.

But separate data showed consumer sentiment slumped in December. The S&P Retail Index <.spxrt> fell 1.4 percent.

U.S.-listed shares of Research in Motion sank 21 percent to $11.09 after the Canadian company, known as the BlackBerry maker, reported its first-ever decline in its subscriber numbers on Thursday alongside a new fee structure for its high-margin services segment.

(Additional reporting by Ryan Vlastelica and Leah Schnurr; Editing by Bernadette Baum and Jan Paschal)

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Syrian rebels fight for strategic town in Hama province

BEIRUT (Reuters) - Rebels began to push into a strategic town in Syria's central Hama province on Thursday and laid siege to at least one town dominated by President Bashar al-Assad's minority sect, activists said.

The operation risks inflaming already raw sectarian tensions as the 21-month-old revolt against four decades of Assad family rule - during which the president's Alawite sect has dominated leadership of the Sunni Muslim majority - rumbles on.

Opposition sources said rebels had won some territory in the strategic southern town of Morek and were surrounding the Alawite town of al-Tleisia.

They were also planning to take the town of Maan, arguing that the army was present there and in al-Tleisia and was hindering their advance on nearby Morek, a town on the highway that runs from Damascus north to Aleppo, Syria's largest city and another battleground in the conflict.

"The rockets are being fired from there, they are being fired from Maan and al-Tleisia, we have taken two checkpoints in the southern town of Morek. If we want to control it then we need to take Maan," said a rebel captain in Hama rural area, who asked not to be named.

Activists said heavy army shelling had targeted the town of Halfaya, captured by rebels two days earlier. Seven people were killed, 30 were wounded, and dozens of homes were destroyed, said activist Safi al-Hamawi.

Hama is home to dozens of Alawite and Christian villages among Sunni towns, and activists said it may be necessary to lay siege to many minority areas to seize Morek. Rebels want to capture Morek to cut off army supply lines into northern Idlib, a province on the northern border with Turkey where rebels hold swathes of territory.

From an offshoot of Shi'ite Islam, Alawites have largely stood behind Assad, many out of fear of revenge attacks. Christians and some other minorities have claimed neutrality, with a few joining the rebels and a more sizeable portion of them supporting the government out of fear of hardline Islamism that has taken root in some rebel groups.

Activists in Hama said rebels were also surrounding the Christian town of al-Suqeilabiya and might enter the city to take out army positions as well as those of "shabbiha" - pro-Assad militias, the bulk of whom are usually Alawite but can also include Christians and even Sunnis.

"We have been in touch with Christian opposition activists in al-Suqeilabiya and we have told them to stay downstairs or on the lowest floor of their building as possible, and not to go outside. The rebels have promised not to hurt anyone who stays at home," said activist Mousab al-Hamdee, speaking by Skype.

He said he was optimistic that potential sectarian tensions with Christians could be resolved but that Sunni-Alawite strife may be harder to suppress.

SECTARIAN FEARS

U.N. human rights investigators said on Thursday that Syria's conflict was becoming more "overtly sectarian", with more civilians seeking to arm themselves and foreign fighters - mostly Sunnis - flocking in from 29 countries.

"They come from all over, Europe and America, and especially the neighboring countries," said Karen Abuzayd, one of the U.N. investigators, told a news conference in Brussels.

Deeper sectarian divisions may diminish prospects for post-conflict reconciliation even if Assad is ousted, and the influx of foreigners raises the risk of fighting spilling into neighboring countries riven by similar communal fault lines.

Some activists privately voiced concerns of sectarian violence, but the rebel commander in Hama said fighters had been told "violations" would not be tolerated and argued that the move to attack the towns was purely strategic.

"If we are fired at from a Sunni village that is loyal to the regime we go in and we liberate it and clean it," he said. "So should we not do the same when it comes to an Alawite village just because there is a fear of an all-out sectarian war? We respond to the source of fire."

President Vladimir Putin of Russia, Assad's main ally and arms supplier, warned that any solution to the conflict must ensure government and rebel forces do not merely swap roles and fight on forever. It appeared to be his first direct comment on the possibility of a post-Assad Syria.

The West and some Arab states accuse Russia of shielding Assad after Moscow blocked three U.N. Security Council resolutions intended to increase pressure on Damascus to end the violence, which has killed more than 40,000 people. Putin said the Syrian people would ultimately decide their own fate.

Assad's forces have been hitting back at rebel advances with heavy shelling, particularly along the eastern ring of suburbs outside Damascus, where rebels are dominant.

A Syrian security source said the army was planning heavy offensives in northern and central Syria to stem rebel advances, but there was no clear sign of such operations yet.

Rebels seized the Palestinian refugee district of Yarmouk earlier this week, which put them within 3 km (2 miles) of downtown Damascus. Heavy shelling and fighting forced thousands of Palestinian and Syrian residents to flee the Yarmouk area.

Rebels said on Thursday they had negotiated to put the camp - actually a densely packed urban district - back into the hands of pro-opposition Palestinian fighters. There are some 500,000 Palestinian refugees and their descendants living in Syria, and they have been divided by the uprising.

Palestinian factions, some backed by the government and others by the rebels, had begun fighting last week, a development that allowed Syrian insurgents to take the camp.

A resident in Damascus said dozens of families were returning to the camp but that the army had erected checkpoints. Many families were still hesitant to return.

LEBANON BORDER POST TAKEN

Elsewhere, Syrian insurgents took over an isolated border post on the western frontier with Lebanon earlier this week, local residents told Reuters on Thursday.

The rebels already hold much of the terrain along Syria's northern and eastern borders with Turkey and Iraq respectively.

They said around 20 rebels from the Qadissiyah Brigade overran the post at Rankus, which is linked by road to the remote Lebanese village of Tufail.

Video footage downloaded on the Internet on Thursday, dated December 16, showed a handful of fighters dressed in khaki fatigues and wielding rifles as they kicked down a stone barricade around a small, single-storey army checkpoint.

Syrian Interior Minister Ibrahim al-Shaar arrived in Lebanon on Wednesday for treatment of wounds sustained in a bomb attack on his ministry in Damascus a week ago.

Lebanese medical sources said Shaar had shrapnel wounds in his shoulder, stomach and legs but they were not critical.

The Syrian opposition has tried to peel off defectors from the government as well as from the army, though only a handful of high-ranking officials have abandoned Assad.

The conflict has divided many Syrian families. Security forces on Thursday arrested an opposition activist who is also the relative of Vice President Farouq al-Sharaa, the Syrian Observatory said. The man was arrested along with five other activists who are considered pacifists, it said.

Sharaa, a Sunni Muslim who has few powers in Assad's Alawite-dominated power structure, said earlier this week that neither side could win the war in Syria. He called for the formation of a national unity government.

(Reporting by Erika Solomon; Editing by Andrew Osborn)

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Acer will beat Google to market with its own $99 tablet

Title Post: Acer will beat Google to market with its own $99 tablet
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The Best Viral Videos of 2012

By Cara Lynn Shultz

12/20/2012 at 02:05 PM EST

Everybody danced like a galloping horse, thanks to "Gangnam Style."

Everyone sang "Call Me Maybe" – even Barack Obama. (Well, sort of.)

And everyone wondered why Zooey Deschanel asked, "Siri, is that rain?" when she was standing by a window in an iPhone commercial.

These and more were the viral videos of the year – the clips you posted on Facebook, shared on Twitter and clustered around your coworker's computer to watch over and over.

Want to watch them all again? Ain't nobody got time for that (as Sweet Brown said this year).

Thanks to Videogum, you can watch the best of the best, this retrospective mash-up of the funniest, creepiest, weirdest Internet videos of the year.

And yes, there are news anchors embarrassing themselves. It wouldn't be the Internet if there weren't!

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Wall Street advances on 'fiscal cliff' talks

NEW YORK (Reuters) - U.S. stocks edged up in a thinly traded session on Thursday after Republican House Speaker John Boehner pledged to keep working on a solution to the "fiscal cliff" while still criticizing President Barack Obama's approach to budget talks.

NYSE Euronext was the day's biggest gainer, surging 33.5 percent to $32.12 as the S&P 500's top percentage gainer, after IntercontinentalExchange Inc said it would buy the operator of the New York Stock Exchange for $8.2 billion.

ICE shares were last down 0.7 percent at $127.40.

Republicans in the U.S. House of Representatives pushed ahead with their own fiscal plan, complicating negotiations with the White House over a way to avoid a series of steep tax hikes and spending cuts due in early 2013. Obama has vowed to veto the plan.

Investors have hoped for an agreement soon between policymakers, but progress has been slow. Boehner said he expected to continue to work with Obama to find a solution, but repeated his charge that Obama and the Democrats were trying to "slow walk" the country over the fiscal cliff.

"Speaker Boehner went on the air and basically told us he doesn't like what the president's doing or not doing, and the markets rallied on that, which was kind of weird. But we have very light volume," said Stephen Guilfoyle, a trader at Meridian Equity Partners in New York.

About 4 billion shares had changed hands on major U.S. exchanges, a typically light day of trading for late December.

The Dow Jones industrial average <.dji> advanced 27.94 points, or 0.21 percent, to 13,279.91. The Standard & Poor's 500 Index <.spx> gained 5.51 points, or 0.38 percent, to 1,441.32. The Nasdaq Composite Index <.ixic> rose 5.44 points, or 0.18 percent, to 3,049.80.

Stocks rallied earlier in the week on signs of progress in the fiscal cliff negotiations, but with the S&P 500 up 14.6 percent so far this year, investors are taking the opportunity to engage in some hedging as 2012 comes to a close.

Herbalife lost 10.2 percent to $33.54 following news that hedge fund manager Bill Ackman was betting against the company as part of his big end-of-the-year short.

The S&P Financial Index <.gspf> gained 1.04 percent.

The U.S. economy grew 3.1 percent in the third quarter, faster than previously estimated, while the number of Americans filing new claims for jobless benefits rose more than expected in the latest week.

Existing home sales jumped 5.9 percent in November, more than expected, and by the fastest monthly pace in three years. An index of housing shares <.hgx> gained 0.43 percent.

But KB Home slid 7 percent to $15.49 as the company reported higher homebuilding costs and expenses in the fourth quarter.

(Additional reporting by Ryan Vlastelica and Leah Schnurr; Editing by Bernadette Baum, Nick Zieminski and Jan Paschal)

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U.S. soldier referred to court martial over Afghan slayings

SEATTLE (Reuters) - A U.S. soldier accused of killing 16 Afghan villagers in two forays from his remote military camp has been referred to a court martial over the slayings and could face the death penalty, the military said on Wednesday.

The trial of Army Staff Sergeant Robert Bales is scheduled to take place at Joint Base Lewis-McChord in Washington state, but no date has been set, military officials said in a statement.

Military prosecutors are seeking the death penalty for Bales. They accuse him of gunning down the villagers - mostly women and children - over a five-hour period in March.

His lawyers have not set out an alternative theory to the prosecution's case, but have pointed out inconsistencies in pretrial testimony and highlighted incidents before the shooting where Bales lost his temper easily, possibly setting up an argument that he was suffering from post-traumatic stress disorder.

The shootings in Afghanistan's Kandahar province mark one of the deadliest civilian slaughters that the military has blamed on an individual U.S. soldier since the Vietnam War. The killings damaged already strained U.S.-Afghan relations.

The charges against Bales include 16 specifications of premeditated murder, six specifications of attempted murder and seven specifications of assault, the military said.

Bales is being held at Joint Base Lewis-McChord.

(Reporting by Laura L. Myers; Writing by Alex Dobuzinskis; Editing by Cynthia Johnston, Gary Hill)

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Wii U finally gets Nintendo’s TVii service on December 20th

After a month-long delay, Nintendo (NTDOY) will launch its Nintendo TVii service for the Wii U on December 20th in the U.S. and Canada. Nintendo TVii is the company’s take on organizing all of the various video streaming and DVR services a user might subscribe to and then displaying them in an easy-to-navigate touchscreen-based interface on the Wii U GamePad. With Nintendo TVii, Nintendo hopes to make content discovery an easier task, rather than a chore. At the same time, Nintendo TVii will offer new “second-screen” experiences (similar to Xbox SmartGlass) with built-in social sharing options to Facebook (FB), Twitter and the Wii U console’s Miiverse.

[More from BGR: BlackBerry 10 browser smokes iOS 6 and Windows Phone 8 in comparison test [video]]

[More from BGR: LG’s woeful comeback attempt]

Nintendo TVii will support Amazon (AMZN) Instant Video, Hulu Plus and cable and satellite providers on Thursday, but Netflix (NFLX) and TiVo (TIVO) support won’t hit the U.S. until “early 2013.” Nintendo didn’t state when TVii support for the latter two will hit Canada.

For the consumer’s sake, we hope the download for Nintendo TVii doesn’t take as long as past system updates.

Nintendo’s press release follows below.

Nintendo Makes TV Smart and Social – Nintendo TVii Launches Dec. 20

New Wii U Service Gives Every Member of the Family His or Her Own Personalized, Easy-to-Use Second-Screen Viewing Experience

REDMOND, Wash.–(BUSINESS WIRE)–The company that changed how we play is about to change how we watch. On Dec. 20, Nintendo will introduce Nintendo TVii, a free, integrated service for the recently launched Wii U console that combines what you watch and how you watch into one seamless, second-screen experience on the revolutionary new Wii U GamePad controller.

The rapid increase in both the quality and availability of video entertainment content – hundreds of satellite and cable channels, a seemingly endless amount of video-on-demand options – has made finding something to watch a complex and occasionally frustrating process. The solution to this problem is coming from perhaps an unexpected place: a video game console.

“After Dec. 20, you’ll never look at your TV the same way again,” said Nintendo of America President and COO Reggie Fils-Aime. “Wii U owners have already experienced the transformative effect that the GamePad has on game play and social interaction. Nintendo TVii shows how the integrated second screen of the GamePad can also transform and enhance the TV viewing experience. Welcome to the new world of TVii.”

Nintendo TVii maximizes Wii U owners’ current cable, satellite and video-on-demand services by pulling all of their available content sources – such as a Comcast cable package or Hulu Plus subscription – into one place. This empowers Wii U owners to focus on whatthey want to watch and not how they want to watch. And once users find the show, sporting event or movie they want, they press an icon and Nintendo TVii does the rest.

In addition to greatly simplifying finding and watching video content, Nintendo TVii also includes a series of social features that enable Wii U owners to share experiences and exciting moments with friends as they are happening on live TV. People can engage with others by commenting and sharing on Miiverse, Facebook and Twitter. Or they can comment, post or tweet about an incredible touchdown, a remarkable performance or a shocking plot twist, all using the personal screen of the Wii U GamePad.

Nintendo TVii requires no additional equipment and can be enjoyed with very little setup, demonstrating what’s possible when the second screen is truly integrated with the TV. Wii U owners can also discover more information about what they’re watching by easily accessing information on the GamePad via an Internet connection, including cast details, movie reviews from Rotten Tomatoes and sports data such as live stats and scores.

Nintendo TVii launches in the United States and Canada on Dec. 20. At launch, the service will support cable and satellite providers in both regions, as well as direct integration with Amazon Instant Video and Hulu Plus subscriptions in the United States. Further integration with Netflix subscriptions and TiVo are expected in early 2013 in the United States. Wii U owners with a Netflix subscription can still access the Netflix application from the Wii U system’s main menu and enjoy their favorite content accordingly.

All elements of the Nintendo TVii service are included in the purchase price of the Wii U system. Users will define which services they currently subscribe to – including the channel lineup in their cable package and video-on-demand service subscriptions – as part of the setup process.

Nintendo TVii observes the Wii U system parental controls, and additional options specific to the Nintendo TVii features can be chosen in the Nintendo TVii settings. Every member of the family can create a different viewing profile. For more information about this and other features, visit http://www.nintendo.com/wiiu.

This article was originally published by BGR

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