Wall Street opens higher on data, HP earnings

NEW YORK (Reuters) - Stocks opened higher Friday after two days of losses, lifted by better-than-expected earnings from Hewlett-Packard Co and positive economic data from Europe.

HP, a Dow component, jumped 7.4 percent to $18.34 in early trading.

The Dow Jones industrial average <.dji> was up 45.85 points, or 0.33 percent, at 13,926.47. The Standard & Poor's 500 Index <.spx> was up 6.06 points, or 0.40 percent, at 1,508.48. The Nasdaq Composite Index <.ixic> was up 18.48 points, or 0.59 percent, at 3,149.98.

(Reporting by Ryan Vlastelica; Editing by Bernadette Baum)

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The Lede: Reporters in Syria See No End in Sight

It has been nearly two years since Syria’s president, Bashar al-Assad, deployed troops to clear the streets of first peaceful protesters and then armed rebels intent on overthrowing him.

The ensuing war, a mix of the sectarian, political and personal, has turned bustling streets, workplaces and homes across the country into rubble-strewn battlegrounds, contested bitterly for the smallest strategic value. On the front lines in two of the country’s largest cities, Damascus, the capital, and Aleppo, reporters have suggested in recent days that there is no end in sight.

Goran Tomasevic of Reuters, a photographer who has produced some of the conflict’s most telling images, spent a month in what were once suburbs of Damascus. Writing on the Reuters Web site on Wednesday, he described what he called “bloody stalemate.”

I watched both sides mount assaults, some trying to gain just a house or two, others for bigger prizes, only to be forced back by sharpshooters, mortars or sprays of machinegun fire.

As in the ruins of Beirut, Sarajevo or Stalingrad, it is a sniper’s war; men stalk their fellow man down telescopic sights, hunting a glimpse of flesh, an eyeball peering from a crack, use lures and decoys to draw their prey into giving themselves away.

Fighting is at such close quarters that on one occasion a rebel patrol stumbled into an army unit inside a building; hand grenades deafened us and shrapnel shredded plaster, a sudden clatter of Kalashnikov cartridges and bullets coming across the cramped space gave way in seconds to the groans of the wounded.

The division between religious groups, Mr. Tomasevic wrote, has become more distinct:

Days are punctuated by regular halts for prayer in a conflict, now 23 months old, that has become increasingly one pitting Syria’s Sunni Muslim majority, stiffened by Islamist radicals, against Alawites led by Assad; they have support from Iran, from whose Shi’ite Islam their faith is derived.

Typical of the frontline routine was an attack that a couple of dozen men of the brigade Tahrir al-Sham — roughly “Syrian Freedom” — mounted in Ain Tarma on January 30, aiming to take over or at least damage an army checkpoint further up the lane.

I photographed one two-man fire team crouch against a breeze-block garden wall, about 50 meters from their target.

In blue jeans, sneakers and muffled against a morning chill, their role was to wait for comrades to hit the army position with rocket-propelled grenades then rake the soldiers with their AK-47 automatic rifles as they were flushed out into the open.

There was little to make a sound in the abandoned streets. The attackers whispered to each other under their breath.

Then two shots rang out. One of the two riflemen, heavy set and balding, screamed in pain and collapsed back on the tarmac.

The day’s assault was going wrong before it even started.

Ian Pannell of the BBC reported on a similar deadlock, outside Aleppo. “Too much has been lost to talk of winners and losers,” Mr. Pannell said. “But make no mistake. The rebellion is advancing.” The rebel forces’ next targets, he said, include a base said to house some of Syria’s reported chemical weapon stockpile, and the city’s airport. Victory in either fight, it seems, would most likely serve only to lengthen and complicate the fight.

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Michelle Williams 'Really Working' on Growing Out Her Hair

Stylewatch
Style News Now

02/20/2013 at 06:00 PM ET

Lionel Hahn/Abaca; Christopher Peterson/Splash New

Anne Hathaway and Miley Cyrus may be totally committed to their short haircuts, but one famously gamine star is ready to ditch her pixie: Michelle Williams.

“I think I’m ready,” Williams, 32, told E! News at a press junket for her film Oz: The Great and Powerful. “It’s on its way, slowly but surely.”

Don’t expect rapid change from the star, who’s had her signature platinum short cut since debuting the look at Cannes in 2010: “I might want it now, but I’ll have it in three years,” she joked of the slow growing-out time.

In fact, that in-between stage is why she’s waited so long to start the transition. “The mid-stage is insufferable,” she said. “It’s really hard on your self-esteem.”

We have to say, she’s managing it quite nicely, showing off a punky asymmetrical look Wednesday outside Late Night With David Letterman. And since her moviemaking schedule is clear for a bit, she joked that she’s ready to devote herself to the new length. “I’m really happy to not have anything looming — except my hair,” she told E! “I’m really working on growing my hair out!”

Tell us: Are you looking forward to seeing Williams with longer hair (here’s a refresher pic) or do you prefer her pixie?

–Alex Apatoff

PHOTOS: VOTE ON MORE CELEB HAIR MAKEOVERS HERE!

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Adults get 11 percent of calories from fast food

ATLANTA (AP) — On an average day, U.S. adults get roughly 11 percent of their calories from fast food, a government study shows.

That's down slightly from the 13 percent reported the last time the government tried to pin down how much of the American diet is coming from fast food. Eating fast food too frequently has been seen as a driver of America's obesity problem.

For the research, about 11,000 adults were asked extensive questions about what they ate and drank over the previous 24 hours to come up with the results.

Among the findings:

— Young adults eat more fast food than their elders; 15 percent of calories for ages 20 to 39 and dropping to 6 percent for those 60 and older.

— Blacks get more of their calories from fast-food, 15 percent compared to 11 percent for whites and Hispanics.

— Young black adults got a whopping 21 percent from the likes of Wendy's, Taco Bell and KFC.

The figures are averages. Included in the calculations are some people who almost never eat fast food, as well as others who eat a lot of it.

The survey covers the years 2007 through 2010 and was released Thursday by the Centers for Disease Control and Prevention. The authors couldn't explain why the proportion of calories from fast food dropped from the 13 percent found in a survey for 2003 through 2006.

One nutrition professor cast doubts on the latest results, saying 11 percent seemed implausibly low. New York University's Marion Nestle said it wouldn't be surprising if some people under-reported their hamburgers, fries and milkshakes since eating too much fast food is increasingly seen as something of a no-no.

"If I were a fast-food company, I'd say 'See, we have nothing to do with obesity! Americans are getting 90 percent of their calories somewhere else!'" she said.

The study didn't include the total number of fast-food calories, just the percentage. Previous government research suggests that the average U.S. adult each day consumes about 270 calories of fast food — the equivalent of a small McDonald's hamburger and a few fries.

The new CDC study found that obese people get about 13 percent of daily calories from fast food, compared with less than 10 percent for skinny and normal-weight people.

There was no difference seen by household income, except for young adults. The poorest — those with an annual household income of less than $30,000 — got 17 percent of their calories from fast food, while the figure was under 14 percent for the most affluent 20- and 30-somethings with a household income of more than $50,000.

That's not surprising since there are disproportionately higher numbers of fast-food restaurants in low-income neighborhoods, Nestle said.

Fast food is accessible and "it's cheap," she said.

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Wall Street opens lower after jobless data

TORONTO, Feb 20 (Reuters) - Canada's Rebecca Marino, a rising star in women's tennis, stepped away from the sport in search of a normal life on Wednesday, weary of battling depression and cyber-bullies. Ranked number 38 in the world two years ago, the 22-year-old admitted she had long suffered from depression and was no longer willing to make the sacrifices necessary to reach the top. "After thinking long and hard, I do not have the passion or enjoyment to drive myself to the level I would like to be at in professional tennis," Marino explained in a conference call. ...

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The Lede: North Korean Video Shows Obama in Flames

North Korea has released a new propaganda video that shows President Obama and United States troops in flames and credits Washington with leading the impoverished country to become a proud nuclear power.

Songs, operas and novels that stoke hatred against the United States and belittle South Korea are daily fare for North Koreans living under a leadership that uses propaganda as a critical tool of governing. In the last several years, the country has taken its campaign to the Internet, posting thousands of videos onto YouTube that provide outsiders with rare glimpses into the world of North Korean propaganda.

More recently, the country’s propagandists have been busy trumpeting the successful launch of a satellite in December and a Feb. 12 nuclear test, telling North Koreans that their country was becoming a high-tech nuclear power under its young leader, Kim Jong-un.

“Thanks to the Americans,” the latest work by the propagandists, is a 90-second video that was uploaded on YouTube by the North’s official Uriminzokkiri Web site on Sunday.

“It is not incorrect to say that the United States’ gangster-like policy of hostility prompted us to become a most strong military power,” says the text that scrolls across the screen. “Thus it can be said that it was ‘thanks to’ the Americans that we conducted a nuclear test.”

In the video, flames are superimposed on footage of Mr. Obama in Congress, American troops and screen shots of a South Korean television station reporting the North’s nuclear test. It ends with an animated simulation of a nuclear device exploding in an underground test site.

The scorching of the United States in “nuclear flames” or a “nuclear holocaust” is a recurring theme in North Korean statements. A ubiquitous propaganda poster in North Korean towns calls for a “score-settling war” against the Americans.

While North Korea has faced chronic food shortages and growing trade sanctions, its propaganda strives to inspire nationalistic pride among its people, portraying their country as a small nation prospering despite the constant bullying of the “imperialist” Americans.

Part of another video, posted on YouTube by the country’s Korean Central Television on Feb. 12, showed a boy wearing a red scarf singing a song against the backdrop of rockets flying into space and satellites circling the Earth.

“We will fill the space with satellites,” the boy sang. “We will grow to be conquerors of the space.”

Another video posted early this month showed a North Korean man dreaming about circling Earth on a homemade spacecraft and looking down to see the Korean Peninsula unified and Manhattan being attacked by missiles and going up in smoke.

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Downton Abbey Cast Covers One Direction's 'What Makes You Beautiful'

TV Watch

By Maggie Coughlan

02/20/2013 at 09:45 AM EST

You don't know you're beautiful, Downton Abbey. But comedian Richard Sandling does!

Sandling is the brains behind a video mashup of the Crawley crew performing One Direction's "What Makes You Beautiful." Using footage from seasons 1 through 3 (and both Christmas specials), cast members of Downton lend their dramatic dialogue to the hit song.

And after Sunday's shocking season 3 finale, a little Downton humor is just what the Dowager Countess ordered.

Originally created for Richard Sandling's Perfect Movie, a monthly live show created by the comedian, the cast of Downton manages to utter every lyric – with one exception. Rather than crooning "the way that you flip your hair gets me overwhelmed," Lord Gratham and gang opts for "the way that you flip your hair gets me flabbergasted."

This isn't the first fun mashup Sandling has created – his website, That Awesome Movie Guy, also combined Mad Men with Rick Astley's "Never Gonna Give You Up" for a viral video that's reached over 1.2 million views.

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Future science: Using 3D worlds to visualize data

CHICAGO (AP) — Take a walk through a human brain? Fly over the surface of Mars? Computer scientists at the University of Illinois at Chicago are pushing science fiction closer to reality with a wraparound virtual world where a researcher wearing 3D glasses can do all that and more.

In the system, known as CAVE2, an 8-foot-high screen encircles the viewer 320 degrees. A panorama of images springs from 72 stereoscopic liquid crystal display panels, conveying a dizzying sense of being able to touch what's not really there.

As far back as 1950, sci-fi author Ray Bradbury imagined a children's nursery that could make bedtime stories disturbingly real. "Star Trek" fans might remember the holodeck as the virtual playground where the fictional Enterprise crew relaxed in fantasy worlds.

The Illinois computer scientists have more serious matters in mind when they hand visitors 3D glasses and a controller called a "wand." Scientists in many fields today share a common challenge: How to truly understand overwhelming amounts of data. Jason Leigh, co-inventor of the CAVE2 virtual reality system, believes this technology answers that challenge.

"In the next five years, we anticipate using the CAVE to look at really large-scale data to help scientists make sense of that information. CAVEs are essentially fantastic lenses for bringing data into focus," Leigh said.

The CAVE2 virtual world could change the way doctors are trained and improve patient care, Leigh said. Pharmaceutical researchers could use it to model the way new drugs bind to proteins in the human body. Car designers could virtually "drive" their new vehicle designs.

Imagine turning massive amounts of data — the forces behind a hurricane, for example — into a simulation that a weather researcher could enlarge and explore from the inside. Architects could walk through their skyscrapers before they are built. Surgeons could rehearse a procedure using data from an individual patient.

But the size and expense of room-based virtual reality systems may prove insurmountable barriers to widespread use, said Henry Fuchs, a computer science professor at the University of North Carolina at Chapel Hill, who is familiar with the CAVE technology but wasn't involved in its development.

While he calls the CAVE2 "a national treasure," Fuchs predicts a smaller technology such as Google's Internet-connected eyeglasses will do more to revolutionize medicine than the CAVE. Still, he says large displays are the best way today for people to interact and collaborate.

Believers include the people at Marshalltown, Iowa-based Mechdyne Corp., which has licensed the CAVE2 technology for three years and plans to market it to hospitals, the military and in the oil and gas industry, said Kurt Hoffmeister of Mechdyne.

In Chicago, researchers and graduate students are creating virtual scenarios for testing in the CAVE2. The Mars flyover is created from real NASA data. The brain tour is based on the layout of blood vessels in a real patient.

Brain surgeon Ali Alaraj remembered the first time he viewed the brain using the CAVE2.

"You can walk between the blood vessels," said the University of Illinois College of Medicine neurosurgeon. "You can look at the arteries from below. You can look at the arteries from the side.... That was science fiction for me."

Would doctors process information faster with fewer errors using CAVE2? That's the question behind a proposed study that would compare CAVE2 to conventional methods of detecting brain aneurysms and determining proper treatment, said Andreas Linninger, UIC professor of bioengineering, chemical engineering and computer science.

But it's not all serious business at the lab.

In his spare time during the past two years, research assistant Arthur Nishimoto has been programming the CAVE2 computer with the specifications for the fictional Starship Enterprise. He now can walk around his life-size recreation of the TV spacecraft.

The original technology, introduced in the early 1990s, was called CAVE, which stood for Cave Automatic Virtual Environment and also cleverly referred to Plato's cave, the philosopher's analogy about shadows and reality. It was named by former lab co-directors Tom DeFanti and Dan Sandin.

The second generation of the CAVE, invented by Leigh and his collaborator Andy Johnson, has higher resolution. The project was funded by the National Science Foundation and the Department of Energy.

"It's fantastic to come to work. Every day is like getting to live a science fiction dream," Leigh said. "To do science in this kind of environment is absolutely amazing."

___

AP Medical Writer Carla K. Johnson can be reached at http://www.twitter.com/CarlaKJohnson.

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Wall Street set for flat open after data, Fed minutes on tap

NEW YORK (Reuters) - Stocks were little changed on Wednesday after housing and inflation data pointed to a continuation of modest economic improvement and ahead of the minutes from the Federal Open Market Committee's January meeting later in the session.

Groundbreaking to build new U.S. homes fell 8.5 percent in January but new permits for construction rose to a 4 1/2-year high while producer prices rose in January for the first time in four months.

The data should enable the Fed to maintain its easy monetary policy in its efforts to stimulate the economy.

Later in the session, investors will look to the minutes from the Fed's January meeting for any indication as to how long the current monetary policy will remain in effect.

"It's hard in any given data point to take a strong conclusion that we are moving dramatically forward, but over time, clearly things are getting better," said Robert Lutts, chief investment officer at Cabot Money Management in Salem, Massachusetts.

Lutts described an economy that was addicted to stimulus.

"The bottom line is the economy is on heroin today and we will at one time move to a diluted form of heroin, but it's very important for people to remember we are still on an unbelievably aggressive, never-seen-before accommodative policy and this economy is going to improve."

The S&P 500 <.spx> is up more than 7 percent for the year, fueled by legislators' ability to sidestep an automatic implementation of spending cuts on tax hikes on January 1, better-than-expected corporate earnings and modestly improving economic data that has been tepid enough for the Fed to maintain its stimulus policy.

The Dow Jones industrial average <.dji> dropped 5.99 points, or 0.04 percent, to 14,029.68. The Standard & Poor's 500 Index <.spx> lost 2.60 points, or 0.17 percent, to 1,528.34. The Nasdaq Composite Index <.ixic> shed 3.12 points, or 0.10 percent, to 3,210.48.

U.S. oil and gas producer Devon Energy Corp reported a fourth-quarter loss as it wrote down the value of its assets by $896 million due to weak gas prices. Shares dipped 1.6 percent to $59.60.

OfficeMax Inc and Office Depot Inc shares were halted as the companies announced a merger agreement. An earlier online statement of the deal was pulled down as an agreement had not yet been struck.

Toll Brothers Inc lost 4 percent to $35.43 after the largest luxury homebuilder in the United States, reported first-quarter results well below analysts' estimates.

SodaStream dropped 3.2 percent to $50.79 after the seller of home carbonated drink maker machines posted fourth-quarter earnings and provided a 2013 outlook.

According to Thomson Reuters data through Tuesday morning, of the 391 companies in the S&P 500 that have reported results, 70.1 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.

Fourth-quarter earnings for S&P 500 companies are estimated to have risen 5.6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama and Nick Zieminski)

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IHT Rendezvous: As Europe Moves to Cap Bonuses, Britain Hesitates

LONDON — It is hard to imagine any European politician losing votes these days by promising to curb bankers’ pay, which may explain why members of the European Parliament are enthusiastically pushing for the toughest restrictions on bank bonuses since the 2008 financial crisis.

Representatives of the Parliament and of the 27 European Union governments were meeting on Tuesday to finalize a deal on banking law that would include pegging bankers’ bonuses at no more than their annual salaries.

The Parliament’s demands for a bonus cap reflect public outrage at continued revelations of huge payouts to bankers. But a side effect has been to hold up enactment of global banking regulations designed to strengthen the capacity of banks to withstand a future crisis.

A majority of member states have come around to supporting the bonus cap. Germany, a late convert to the idea, is prepared to compromise on the issue in order to ensure the wider banking changes are adopted by the elected European Parliament.

The debate has left the British government out on a limb, as it fights a possibly doomed rearguard action to protect the interests of the City of London, Europe’s biggest financial center.

The Conservative-led government believes the bonus cap could have the perverse effect of increasing bankers’ fixed pay, while allowing less opportunity to claw back variable bonuses in the event of poor performance.

Boris Johnson, the outspoken Conservative mayor of London, was quoted on Tuesday as saying, “we don’t need Europe butting in on bonuses,” as he attacked the European proposals as a threat to the City’s international competitiveness.

In the light of popular anti-banker sentiment, however, the British government has been relying on quiet diplomacy to argue its case with European partners in order to avoid the perception that it pushing the agenda of “fat cat” bankers.

It has been left largely to the business media to press the case against a bonus cap. Allister Heath, writing at the City A.M. Web site on Tuesday, suggested that a cap would be a “disaster for London.”

In an editorial this week, which said adoption of the bonus cap would be a defeat for common sense, the Financial Times wrote: “The parliamentarians’ pet idea is a result of populism mixed with ignorance of how banking works.”

“A cap on the ratio of variable to fixed pay will do little to lower total compensation (which is what outrages voters sick of bailing out failed banks),” according to the Financial Times. “It will just encourage higher fixed salaries to compensate for the lack of bonuses that tend to be far larger.”

Mr. Heath, in his City A.M. column, suggested that George Osborne, the British finance minister, was “seemingly too frightened by anti-City sentiment” to block the Brussels proposals.

“The cap will lead to further boosts to base pay, increasing fixed costs and risk,” Mr. Heath wrote. “When business volumes drop, the only answer will be to sack people, rather than cutting bonuses.”

“The fact is U.K. regulators have already created a bonus framework that is tough but fair,” according to Nick Goodway, writing in the London Evening Standard. “Europe is trying to bring in one that could have dire consequences for London’s status as one of the world’s top three financial centers.”

Does this all amount to special pleading on behalf of overpaid bankers? Or do the opponents of the bonus cap have a point? Is the European Parliament guilty of populism, or simply displaying good sense with its proposals to outlaw excessive bonuses?

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