Friday, February 8, 2013

Moody's shares slide despite strong earns

NEW YORK (AP) -- Moody's fourth-quarter net income jumped 66 percent and revenue blew away expectations, but shares slid with many expecting the ratings agency will be the next target of the Justice Department, which filed a suit against a rival for its actions before the housing market collapse.

The Obama administration accused Standard & Poor's on Tuesday of refusing to warn investors that the housing market was collapsing in 2006 because it would be bad for business.

In the days since S&P announced that the lawsuit would be filed, Moody's shares have tumbled 15 percent, falling another 6 percent Friday.

CEO Raymond McDaniel said that he had no knowledge of any pending action against the company during a conference call with investors Friday.

For the quarter ended Dec. 31, the New York company earned $160.1 million, or 70 cents per share, up from $96.2 million, or 43 cents per share, in the same quarter last year.

Revenue jumped 33 percent to $754.2 million, easily topping Wall Street expectations for revenue of $687.1 million in revenue, according to FactSet.

U.S. revenue rose 40 percent to $400.9 million, while overseas revenue increased 26 percent to $353.3 million.

Revenue from Moody's Investors Service, its credit rating arm, rose 42 percent to $519.4 million, as global corporate finance revenue jumped 73 percent to $244.9 million on higher demand for credit ratings.

Why Moody's was not included in the Justice Department action was debated all week, though the direction of the company's stock suggests that most believe that is only a matter of time. And experts said the lawsuit could serve as a template for future action against Fitch and Moody's, the other two major credit rating agencies.

According to the lawsuit, S&P gave high marks to the investments because it wanted to earn more business from the banks that issued them. S&P has denied any wrongdoing, and it has vowed to fight the civil charges filed by the Justice Department.

For the full year, Moody's earned $690 million, or $3.05 per share, up from $571.4 million, or $2.49 per share, in 2011. Revenue rose to $2.73 billion from $2.28 billion.

The company said that despite the continued economic uncertainty, it expects market conditions to remain favorable this year and projected a 2013 profit of $3.45 to $3.55 per share. Analysts expect $3.25 per share.

But it projected a slow-down in revenue growth at Moody's Investors Service, predicting a revenue increase in the "high-single-digit percent range," down from the 20 percent increase it posted in 2012.

In afternoon trading, Moody's shares fell $2.94, or 6 percent, to $44.05, after dropping as low as $43.89 earlier in the day.

Source: http://news.yahoo.com/moodys-shares-slide-despite-strong-162603145.html

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Mountain manhunt for alleged cop killer

More than 100 police officers were going door-to-door and searching for new tracks in the snow in hopes of catching suspected cop-killer Christopher Dorner overnight in Big Bear Lake, Calif., before he strikes again, as laid out in his rambling online manifesto.

Police late Thursday night alerted the residents near Big Bear Lake that Dorner was still on the loose after finding his truck burning earlier in the day.

San Bernardino County Sheriff's spokeswoman Cindy Bachman said authorities can't say for certain that he's not in the area. More than half of the 400 homes in the area had been searched by police as of late Thursday. Police traveled in two-man teams.

Bachman urged people in the area not to answer the door, unless they know the person or see a law enforcement officer in uniform.

After discovering Dorner's burning truck near a Bear Mountain ski resort, police discovered tracks in the snow leading away from the vehicle. The truck has been taken to the San Bernardino County Sheriffs' crime lab.

Read More About Chris Dorner's Allegations Against the LAPD

Bachman would not comment on Dorner's motive for leaving the car or its contents, citing the ongoing investigation. Police are not aware of Dorner's having any ties to others in the area.

She added that the search in the area would continue as long as the weather cooperates. About three choppers were being used overnight, but weather conditions were deteriorating, according to Bachman.

"He could be anywhere at this point," said San Bernardino County Sheriff John McMahon, who is expected to address the media later this morning.

Dorner, 33, a former Los Angeles police officer and Navy reservist, is suspected of killing one police officer and injured two others Thursday morning in Riverside, Calif. He was also accused of killing two civilians Sunday. And he allegedly released an angry "manifesto" airing grievances against police and warning of coming violence toward cops.

In the manifesto Dorner published online, he threatened at least 12 people by name, along with their families. "Your lack of ethics and conspiring to wrong a just individual are over. Suppressing the truth will leave to deadly consequences for you and your family," Dorner wrote in his manifesto.

One passage from the manifesto read, "I will bring unconventional and asymmetrical warfare to those in LAPD uniform whether on or off duty."

"I never had the opportunity to have a family of my own," it read. "I'm terminating yours."

Hours after the extensive manhunt dragged police to Big Bear Lake, CNN's Anderson Cooper said Dorner had sent him a package at his New York office that arrived Feb. 1, although Cooper said he never knew about the package until Thursday. It contained a DVD of court testimony, with a Post-It note signed by Dorner claiming, "I never lied! Here is my vindication."

PHOTOS: Former LAPD Officer Suspected in Shootings

It also contained a keepsake coin bearing the name of former Los Angeles Police Chief William J. Bratton that came wrapped in duct tape, Cooper said. The duct tape bore the note, "Thanks, but no thanks Will Bratton."

Bratton told Cooper on his program, "Anderson Cooper 360," that he believed he gave Dorner the coin as he was headed overseas for the Navy, Bratton's practice when officers got deployed abroad. Though a picture has surfaced of Bratton, in uniform, and Dorner, in fatigues, shaking hands, Bratton told Cooper he didn't recall Dorner or the meeting.

Police say Dorner began his killing spree over the weekend, when a popular assistant women's college basketball coach, Monica Quan, 28, and her fianc?, Keith Lawrence, 27, were found dead in their car in Irvine, Calif., Sunday.

Police identified Dorner as a suspect in those slayings late Wednesday night after discovering the online manifesto allegedly written by the suspect.

"A particular interest at this point in the investigation is a multi-page manifesto in which the suspect has implicated himself in the slayings," Irvine police Chief David L. Maggard said at a news conference Wednesday.

Police say Dorner bore a grudge against Quan's father, retired LAPD Capt. Randy Quan, for his firing from the department.

Dorner was with the department from 2005 until 2008, when he was fired for making false statements.

Randy Quan, who became a lawyer in retirement, represented Dorner in front of the Board of Rights, a tribunal that ruled against Dorner at the time of his dismissal.

Dorner allegedly went to a yacht club near San Diego at approximately 10 p.m. local time Wednesday, where police say he attempted to steal a boat and flee to Mexico.

He aborted the attempted theft when the boat's propeller became entangled in a rope, law enforcement officials said.

"He pointed a handgun at the victim [at the yacht club] and demanded the boat," said Lt. David Rohowits of the San Diego Police Department.

A badge and identification belonging to Dorner have been found in San Diego, according to San Diego Police Sgt. Ray Battrick.

Two LAPD officers were in Corona on special detail to check on one of the individuals named in Dorner's manifesto exchanged gunfire with a man believed to be Dorner at 1:25 a.m. Thursday. Dorner allegedly grazed one of them but missed the other.

Approximately 20 minutes later, After Dorner allegedly shot at LAPD officers in Corona, he fled and encountered two Riverside police officers stopped at a red light in their police car. Dorner used a rifle to shoot through their windshield, killing one officer and injuring the other, police said.

The deceased officer was a 34-year-old, 11-year veteran of the police department. The injured officer, age 27, was expected to make a full recovery.

"They were on routine patrol stopped at a stop light when they were ambushed," Lt. Guy Toussant of the Riverside Police Department said.

By sunrise, jittery police officers in Los Angeles opened fired on a blue truck in Torrance, similar to the suspects, but the people inside were innocent bystanders.

Dorner just finished his military career as a lieutenant last Friday. His only overseas deployment was to a Navy base in Bahrain. He also received a Rifle Marksman Ribbon and Pistol Expert Medal, meaning he received superior scores when he tested at the range.

Police described Dorner as black, 6-feet tall and weighing 270 pounds. He has black hair and brown eyes.

Also Read

Source: http://gma.yahoo.com/christopher-dorner-manhunt-police-search-suspected-cop-killer-073506775--abc-news-topstories.html

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Jillian Michaels at the Red Dress Fashion Show - Shape

It's that time of year again! Fashionistas, designers, celebrities, and everyone in between descend on New York City every September and February for New York Fashion Week. Last night NYFW 2013 kicked off with?The Heart Truth Red Dress Collection Fashion Show. For more than a decade the National Heart, Lung, and Blood Institute has sponsored the show as part of a campaign to encourage women to protect their hearts and take action against heart disease in their communities.

The show always features a mixture of celebrities and non-celebs alike who share their personal stories about how heart disease has touched them, and this year was no different! While all the lovely ladies on the red carpet looked red hot, we couldn't wait to talk to fitness expert Jillian Michaels, who looked super fab and fierce in Cushnie Et Ochs. We caught up with her a few minutes to talk about why she's strutting the runway for heart health.

SHAPE: What's it like to be walking the red carpet in this fashion show?
Jillian Michaels (JM): Exciting! This is a bit out of my element, as I'm sure everyone knows. I'm certainly unfamiliar with this territory, so it's a bit nerve-wracking, but I'm honored to be asked and thrilled to be participating.

RELATED: Ready to make some big changes in your life? Get Jillian Michaels' top advice on how to meet all your goals.

SHAPE: How did you pick the dress you're wearing tonight?
JM: I wish I could take credit for it, but it was selected for me.

SHAPE: How does it feel to be modeling a dress instead of fitness clothes?
JM: It's very refreshing! It's a change.

SHAPE: Why is The Heart Truth campaign so important to you?
JM: Because heart disease is the No. 1 killer of women, and 80 percent of those deaths are completely preventable. It's simply a matter of awareness and education, so to be a part of this is event is right up my alley.

SHAPE: You look gorgeous in a dress or gym clothes. What are the beauty products you would never leave the house without?
JM: That'd have to be Zuii Organics powder, Yes to Carrots lip balm, Wisps, and Jane Iredal So Bronze bronzer.

SHAPE: You always seem so sure of yourself. What's your No. 1 stay-confident secret?
JM: Work out! It's great for your physical strength, self-esteem, and brain chemistry.

SHAPE: On those days you just don't want to work out, how do you convince yourself to get out of bed and do it?
JM: I play mind games. I tell myself how grumpy ill be if I don't work out and think about how lethargic I'll feel the next day. I promise myself that I will just do 15 minutes and if I am still miserable I'll stop. There hasn't been one time I didn't stay to finish at least 30. Once you are there and the endorphins kick you, you find the strength to power through.

RELATED: Power through Michaels' Fast Track to Fit workout, and you'll see results in as little as two weeks!

SHAPE: What's on your workout playlist?
JM: Lots of David Guetta, Nervo, Skrillex, and Avici.

SHAPE: What are your go-to healthy snacks when you're on the road?
JM: Popchips are my favorite chemical-free guilty pleasure. I also always have Oikos vanilla Greek yogurt or lemon chili almonds from the farmers' market near me.

SHAPE: What advice would you give to a reader to help her feel confident at the weight she is at, even if it's not her ideal or goal weight?
JM: Life doesn't begin 10 pounds from now. There is absolutely nothing wrong with you. You are just as good as everyone else. Start giving yourself all the affection and attention that you give others, and I promise that not only will your attitude and self worth change, but your waistline as well.

Source: http://www.shape.com/blogs/fit-famous/jillian-michaels-red-dress-fashion-show

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Wednesday, February 6, 2013

2012 global temperatures 10th highest on record

Feb. 6, 2013 ? The globally-averaged temperature for 2012 marked the 10th warmest year since record keeping began in 1880. It also marked the 36th consecutive year with a global temperature above the 20th century average. The last below-average annual temperature was 1976. Including 2012, all 12 years to date in the 21st century (2001-2012) rank among the 14 warmest in the 133-year period of record. Only one year during the 20st century -- 1998 -- was warmer than 2012.

Most areas of the world experienced higher-than-average annual temperatures, including most of North and South America, most of Europe and Africa, and western, southern, and far northeastern Asia. Meanwhile, most of Alaska, far western Canada, central Asia, parts of the eastern and equatorial Pacific, southern Atlantic, and parts of the Southern Ocean were notably cooler than average. Additionally, the Arctic experienced a record-breaking ice melt season while the Antarctic ice extent was above average.

2012 Global temperature highlights

  • 2012 was the 10th warmest year since records began in 1880. The globally-averaged annual combined land and ocean surface temperature was 0.57?C (1.03?F) above the 20th century average of 13.9?C (57.0?F). The margin of error is ? 0.08?C (0.14?F).
  • 2012 also marked the 36th consecutive year with a global temperature above the 20th century average. The last colder-than-average year was 1976.
  • Record to near-record warm land surface temperatures in the Northern Hemisphere from April to September and overall warmer-than-average ocean surface temperatures made the first 11 months of the year the eighth warmest on record. However, extreme cold across much of the Northern Hemisphere land during December helped lower the year-to-date temperature departure from average by 0.02?C (0.04?F) compared with the previous month.
  • The global annual temperature has increased at an average rate of 0.06?C (0.11?F) per decade sine 1880 and at an average rate of 0.16?C (0.28?F) per decade since 1970.
  • The 2012 worldwide land surface temperature was 0.90?C (1.62?F) above the 20th century average, making it the seventh warmest such period on record. The margin of error is ? 0.18?C (0.32?F).
  • Some national highlights are included below:
    • The contiguous United States had its warmest year since national records began in 1895, surpassing the previous record set in 1998 by 0.6?C (1.0?F).
    • Austria experienced its seventh warmest year since national records began in 1767, at 1.0?C (1.8?F) above the long-term average.
    • With the first half of 2012 cooler than average and the second half warmer than average, on balance the annual 2012 temperature across Australia was 0.06?C (0.11?F) above the 1961-1990 average. Only the year 2011 has been below average in the past decade.
    • The 2012 temperature across the United Kingdom was 0.1?C (0.2?F) below the 1981-2010 average. This is in part attributed to the UK's coolest summer since 1998 and coolest autumn since 1993.
    • Norway had its 45th warmest year since record began in 1900, at 0.4?C (0.7?F) above average.

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The above story is reprinted from materials provided by National Oceanic and Atmospheric Administration.

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Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_environment/~3/-QE0EZ-d8-A/130206141250.htm

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Video: Dow 14k & Beyond

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Source: http://video.msnbc.msn.com/cnbc/50696017/

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A look at BlackBerry maker Research in Motion

Research In Motion Ltd. is changing its name to BlackBerry as the Canadian company develops two new phones with a modern operating system called BlackBerry 10. RIM is counting on the new system to help with a turnaround. Here's a look at recent developments as the company struggles to regain market share lost to Apple's iPhone and devices running Google's Android operating software.

Sept. 15, 2011: RIM says it has sold far fewer PlayBook tablet computers than it expected, as the company reports a sharp drop in net income and revenue in the fiscal second quarter.

Oct. 25: RIM says it is delaying the launch of an upgraded operating system for the PlayBook until February, saying it isn't up to its standards yet. The company also says the new version initially won't have the popular messaging service BlackBerry Messenger. It's the third delay announced since the features were promised in April.

Dec. 2: RIM says it is writing off much of its inventory of PlayBook tablets after it had to sell them at a deep discount. The model originally priced at $500 now costs $200. The company says it's taking a pre-tax charge of $485 million in the just-ended quarter. RIM also says it will sell fewer BlackBerrys in the holiday quarter than in the one that just ended. It also says it won't meet full-year earnings guidance of $5.25 to $6 per share, the third cut in a row.

Dec. 6: RIM says "BlackBerry 10" will be the new name for its next-generation system after the company loses a trademark ruling on its previous name, BBX.

Dec. 15: RIM says new phones deemed critical to the company's future won't be out until late 2012. The company says the BlackBerry 10 phones will need a highly integrated chipset that won't be available until mid-2012, so the company can now expect the new phones to ship late in the year. The company also says BlackBerry sales will fall sharply in the holiday quarter compared with the three months that ended Nov. 26. RIM says it would only ship between 11 million and 12 million BlackBerrys in the fourth quarter, down from 14.1 million in the third quarter.

Jan. 22, 2012: RIM founder Mike Lazaridis and long-time executive Jim Balsillie announce they will step down as co-CEOs. Thorsten Heins, a chief operating officer who joined RIM four years ago from Siemens AG, was named as their replacement. Lazaridis and Balsillie remain on the board.

Feb. 21: RIM finally releases an upgraded operating system for its PlayBook. The free upgrade allows for built-in email, calendar and contacts on the tablet ? features promised within 60 days after the PlayBook's launch last April. The PlayBook had received negative reviews because it launched without an email program and the popular messaging service BlackBerry Messenger. The new version still doesn't include the messaging service.

March 29: RIM says Balsillie has resigned from its board, and two top executives are leaving. RIM also writes down the value of its product inventory again as the company reports a loss of $125 million, its first quarterly loss since fiscal 2005. Heins doesn't rule out a sale, but he says it is not the main direction of the strategic review he's overseeing.

April 26: Newest board member of RIM says a turnaround could take three to five years. Prem Watsa, RIM's third-largest investor, says he sees his investment in the company as a long-term one, adding that RIM's fortunes won't be reversed soon.

May 1: RIM unveils a newly designed smartphone prototype powered by its upcoming BlackBerry 10 system. The prototype BlackBerry has a touch screen, but no physical keyboard like most BlackBerry models. No update was given on the new system's launch date.

May 2: Company stresses that while the prototype has no physical keyboard, RIM will continue to make some models with one.

May 8: RIM announces hiring of two senior executives from struggling tech companies. Frank Boulben, the new chief marketing officer, comes from LightSquared. Kristian Tear, the new chief operating officer, is from Sony Mobile Communications.

May 29: RIM says it will have an operating loss in the current quarter and significant layoffs. The company says it has hired J.P. Morgan and RBC Capital Markets to help evaluate various strategies, including opportunities to partner with other companies and to license software.

June 20: RIM says it has started laying off employees as part of a restructuring plan aimed at saving about $1 billion in 2012.

June 21: Company says the first BlackBerry device running BlackBerry 10 will not have a physical keyboard, only a touch-screen one. Ones with hard keyboards will eventually be made, but the company declines to say when.

June 28: RIM says it's cutting 5,000 jobs, or about 30 percent of its workforce, and delaying the launch of BlackBerry 10 yet again, to the first quarter of 2013. It also reported worse results for its latest quarter, which ended June 2, than analysts had expected.

June 29: Stock hits nine-year low on day after earnings announcements.

July 10: At RIM's annual shareholders meeting, Heins asks disgruntled investors for patience as the company develops new devices to rival the iPhone and Android smartphones. He says the past year has been very difficult for RIM, and he says the company is "around the clock" to get BlackBerry 10 out.

Nov. 12: RIM says it will hold an official launch event for BlackBerry 10 smartphones on Jan. 30.

Nov. 28: Nokia Corp. says that it is suing RIM for breach of contract in Britain, the United States and Canada over cellular patents the two companies agreed on nine years ago. RIM says it "will respond to Nokia's petitions in due course."

Nov. 29: RIM's stock rises after Goldman Sachs upgraded the company's shares, saying there's a "30 percent chance" that BlackBerry 10 smartphones will be a success.

Dec. 20: RIM announces that it lost subscribers for the first time in the latest quarter, as the global number of BlackBerry users dipped to 79 million. RIM also says it is changing the way it charges service fees, putting an important source of revenue at risk. Only subscribers who want enhanced security will pay fees under the new system.

Jan. 30, 2013: RIM announces it will change its name to BlackBerry and trade under the ticker symbol "BBRY" on the Nasdaq Stock Market. It comes as RIM unveils its first two phones with the new BlackBerry 10 system after lengthy delays. The Q10 will have a physical keyboard, while the Z10 has only a touch-screen keyboard. U.S. availability isn't expected until March for the Z10 and at least April for the Q10.

Jan. 31: The Z10 model goes on sale in the U.K.

Monday: New ticker symbol takes effect, though name change isn't official until shareholders vote on it.

Tuesday: The Z10 model goes on sale in Canada.

Source: http://news.yahoo.com/look-blackberry-maker-research-motion-202621544.html

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Rivera says Yankees will support Rodriguez

NEW YORK (AP) ? Sitting on a stage with their manager and GM during a fundraiser, Mariano Rivera and Mark Teixeira vowed to welcome Alex Rodriguez back to the New York Yankees following the latest drug allegations against the New York Yankees star.

Rodriguez is recovering from hip surgery expected to sideline him until at least the All-Star break. The Miami New Times reported last week that Rodriguez is included in records the paper claims show he bought performance-enhancing drugs from a defunct Florida anti-aging clinic. Rodriguez denied the charges.

"We have to embrace him. He's our teammate," Rivera said.

Yankees general manager Brian Cashman said the team will wait for Major League Baseball to determine the truthfullness of the allegations, and manager Joe Girardi said there's no way to tell whether the All-Star third baseman will regain his offensive production following him surgery.

"This involves some very nasty facts," Cashman told about 150 fans at the Hard Rock Cafe in Times Square. "There needs to patience here as they thoroughly investigate this to determine the accuracy or inaccuracy, or where are there accuracies or inaccuracies in the story, and see if we can come up with what is fact and what are provable facts."

"Everybody, they deserve due process and right now you have just a very nasty story," Cashman added. "We'll just have to wait and let it all play out."

Rodriguez was among a half-dozen major leaguers accused in the report by the alternative weekly and could face a 50-game suspension. He admitted four years ago that he used PEDs while with the Texas Rangers from 2001-03, before MLB and the union started their joint drug program. He has denied using PEDs since.

"He wears that uniform, that New York Yankees uniform, and I have to go out and be there for him," Rivera said. "Besides, he's my friend and I will respect and wait for him to give you the answer that you want."

Teixeira echoed Rivera's thoughts.

"Just like Mo said, you support your family," the first baseman said.

Teixeira spoke out against PEDs when asked about the rejection of all candidates in this year's Hall of Fame vote, a group that included seven-time MVP Barry Bonds and seven-time Cy Young Award winner Roger Clemens.

"As a sport, we've stood up and said enough is enough because there is no place for steroids in sports," Teixeira said to applause. "It's a little bit embarrassing to go up to somebody and have people talk about baseball, and the first thing they talk about is steroids. And I'm tired of it, frankly. So for the Hall of Fame, the No. 1 highlight of anyone's career and what we all strive to become, for Hall of Fame voters to stand up and make a stand, I think that is a positive thing."

Even before last week's report, Rodriguez had lived through a tumultuous offseason following his repeated benching for lack of production during last year's playoffs. A-Rod, who turns 38 in July, has not played a full season since 2007 because of injuries. It's not clear whether he will report to spring training with the Yankees in Tampa, Fla.

"I'm not sure exactly where he'll be from a rehab standpoint and where they feel the best place for him to be," Girardi said.

He will watch Rodriguez's progress from surgery but won't predict whether A-Rod will regain the offensive form that led to three AL MVP awards and 647 home runs ? 115 shy of tying Barry Bonds' career record.

"We're hopeful and we're confident that he's going to come back healthy but you've got to find out," Girardi said. "There's no guarantees when they cut you."

Rivera, the career saves leader, missed most of last season after tearing the anterior cruciate ligament in his right knee while tracking down a fly ball during batting practice in Kansas City on May 3. Now 43, he expects to be on his normal spring training routine. He joked about his disdain for exhibition road games in Florida.

"For me it's a challenge, but I can't wait to get there," he said. "I'm going to start sweating and running and doing all that stuff, getting in the outfield. You won't see the last of me there."

NOTES: Working out at the Yankees' minor league complex in Tampa, Fla., captain Derek Jeter deferred on publicly discussing the charges against Rodriguez. "I don't comment on anyone until they speak first," Jeter said. "Let him address his situation before I comment on it. Let him speak first and then we'll talk about that." ... Girardi has not ruled out moving Brett Gardner to center and Curtis Granderson to left, but says for now he hasn't decided to make a switch. ... Girardi and Cashman said Chris Stewart and Francisco Cervelli are likely to compete for the starting catcher's job. After missing most of last season because of a back injury, Austin Romine has only an outside chance. ... An auction raised money for Carlos Silva, a producer and engineer for Yankees games on WCBS radio since 2006, who is fighting esophageal and stomach cancer.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-02-04-Yankees-Rodriguez/id-80c696ad04cb4a2fa5c8bbc4db0dca2d

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