Wall Street climbs 1 percent on results; Dow above 14,000

NEW YORK (Reuters) - Stocks climbed on Tuesday, pushing the Dow above 14,000 a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture.


All 10 S&P sectors were higher, and the S&P 500 and Nasdaq gained more than 1 percent.


Dell Inc's stock rose after the world's No. 3 computer maker agreed to be taken private in a $24.4 billion deal, the largest leveraged buyout since the 2008-2009 financial crisis. The stock gained 1.3 percent to $13.44 after a delayed open.


The market's bounce follows a sell-off on Monday that gave the S&P 500 its biggest percentage decline since mid-November. Still, the benchmark is up about 5 percent since the start of the year and is less than 5 percent away from its all-time intraday high of 1,576.09 in October 2011.


Analysts said fourth-quarter results have been among the positives for the market. On Tuesday, Archer Daniels Midland reported revenue and adjusted fourth-quarter earnings that beat expectations, boosted by strong global demand for oilseeds. Shares rose 3.4 percent to $29.40.


"This quarter was one that had relatively low expectations coming into it, but the beats on the earnings and on the revenue side have been pretty good, particularly on the revenue side," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.


"And in the aggregate so far, the earnings growth is just under 5 percent, and that's relieved those who thought maybe the earnings picture was deteriorating to the point where we would see surprisingly poor earnings."


The Dow Jones industrial average <.dji> was up 121.49 points, or 0.88 percent, at 14,001.57. The Standard & Poor's 500 Index <.spx> was up 16.95 points, or 1.13 percent, at 1,512.66. The Nasdaq Composite Index <.ixic> was up 40.79 points, or 1.30 percent, at 3,171.96.


Also in earnings, Estée Lauder Cos Inc reported a higher quarterly profit and raised its full-year profit forecast. The stock rose 5.7 percent to $64.52.


With results in for more than half of the S&P 500 companies, 69 percent have beaten profit expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.


Fourth-quarter earnings for S&P 500 companies are expected to rise 4.5 percent, according to the data, above the 1.9 percent forecast at the start of earnings season.


On the down side, McGraw-Hill shares slumped 7.5 percent to $46.51 after the Justice Department filed a civil lawsuit against it seeking $5 billion over mortgage bond ratings. Standard & Poor's, a McGraw Hill unit, was accused of inflated ratings and understated risks out of a desire to gain more business from investment banks.


On Monday, the stock market suffered its worst one-day decline since the 1987 market crash.


(Additional reporting By Angela Moon; Editing by Kenneth Barry)



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North Korea nuclear test would face "firm" U.N. action: South Korea


UNITED NATIONS (Reuters) - The U.N. Security Council is united on North Korea's nuclear arms program and will undoubtedly approve tough measures against Pyongyang if it carries out a new atomic test as expected, South Korean U.N. Ambassador Kim Sook said on Monday.


"The North Korean nuclear test seems to be imminent," Kim, who is president of the Security Council this month, told reporters. "Obviously there are very busy activities going on at the (North Korean) nuclear test site, and everybody's watching."


"Everybody is unified and they are firm and resolute," he said. "I would expect very firm and strong measures to be taken ... once they go ahead with such provocation."


(Reporting By Louis Charbonneau; Editing by Sandra Maler)



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Kuwait says backs free speech but must protect ruling emir






KUWAIT (Reuters) – Kuwait supports free speech but must act against illegal comments made about the Gulf state’s ruler, the government said on Monday, after a Twitter user was jailed for five years.


A Kuwaiti court sentenced a man to prison on Sunday for insulting the emir on the social networking site, a rights lawyer and news websites said, in the latest prosecution for criticism of authorities via social media.






“Kuwait has a longstanding proud tradition of open debate and free speech,” the Ministry of Information, which regulates the media, said in a statement to Reuters addressing the case.


“We are a country led by the rule of law and our constitution holds our Emir to be inviolable. If our citizens wish to amend the constitution there is a straightforward legal way to do this, but we will not selectively enforce our laws.”


In recent months Kuwait has penalized several Twitter users for criticizing the emir, who is described as “immune and inviolable” in the constitution.


Kuwait allows the most dissent in the Gulf Arab region and boasts a lively press and critical political debate. But the U.S. ally and OPEC member has been clamping down on politically sensitive comments aired on the internet in recent months.


Twitter is extremely popular in the country of 3.7 million inhabitants and well-known figures can have hundreds of thousands of followers.


In January, a court sentenced two men in separate cases to jail time for insulting the emir on Twitter.


In June last year, a man was sentenced to 10 years in prison after he was convicted of endangering state security by insulting the Prophet Mohammad and the Sunni Muslim rulers of Saudi Arabia and Bahrain on social media.


Two months later, authorities detained a member of the ruling family over remarks on Twitter in which he accused authorities of corruption and called for political reform.


Kuwait has avoided the kind of mass unrest that has spread across the Arab region in the past two years but in 2012 tension escalated between authorities and opposition groups ahead of a parliamentary election.


(Reporting by Sylvia Westall; Editing by Mark Heinrich)


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Kim Richards: 'My Whole Life Today Is Amazing' Because I'm Sober



Kim Richards is in a good place.

Following a stint in rehab about a year ago, the Real Housewives of Beverly Hills star, 48, tells PEOPLE, "It hasn't been easy, but my whole life today is amazing, and I owe it all to my sobriety."

Part of what has contributed to her new outlook is her newly mended relationship with her sister, Kyle.

"When I came home from treatment, I thought it was going to be great," Kim says. "I just didn’t expect the response I wasn't getting from Kyle. You'll see [this season], my sister and I have these moments, these bonding moments. And then they go away and then you see more. It's so up and down the whole season for Kyle and I. And then Kyle and I really were able to put it together this Christmas."

Adds the reality star, "I haven't had a drink since – it was a year in December. I feel so strong, determined, healthy and happy. I have a great relationship with my children [and] with both of my sisters."

Thanks to her role on Housewives, Richards's progress has been acknowledged by more than just her family.

"You have no idea how many people out there have said, 'You have saved me. Because of you, I have 30 days [of sobriety],' " she says. "I cry. It makes me smile. It makes me cry-smile. I smile-cry. It's so rewarding."

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Bullying study: It does get better for gay teens


CHICAGO (AP) — It really does get better for gay and bisexual teens when it comes to being bullied, although young gay men have it worse than their lesbian peers, according to the first long-term scientific evidence on how the problem changes over time.


The seven-year study involved more than 4,000 teens in England who were questioned yearly through 2010, until they were 19 and 20 years old. At the start, just over half of the 187 gay, lesbian and bisexual teens said they had been bullied; by 2010 that dropped to 9 percent of gay and bisexual boys and 6 percent of lesbian and bisexual girls.


The researchers said the same results likely would be found in the United States.


In both countries, a "sea change" in cultural acceptance of gays and growing intolerance for bullying occurred during the study years, which partly explains the results, said study co-author Ian Rivers, a psychologist and professor of human development at Brunel University in London.


That includes a government mandate in England that schools work to prevent bullying, and changes in the United States permitting same-sex marriage in several states.


In 2010, syndicated columnist Dan Savage launched the "It Gets Better" video project to encourage bullied gay teens. It was prompted by widely publicized suicides of young gays, and includes videos from politicians and celebrities.


"Bullying tends to decline with age regardless of sexual orientation and gender," and the study confirms that, said co-author Joseph Robinson, a researcher and assistant professor of educational psychology at the University of Illinois in Urbana-Champaign. "In absolute terms, this would suggest that yes, it gets better."


The study appears online Monday in the journal Pediatrics.


Eliza Byard, executive director of the Gay, Lesbian & Straight Education Network, said the results mirror surveys by her anti-bullying advocacy group that show bullying is more common in U.S. middle schools than in high schools.


But the researchers said their results show the situation is more nuanced for young gay men.


In the first years of the study, gay boys and girls were almost twice as likely to be bullied as their straight peers. By the last year, bullying dropped overall and was at about the same level for lesbians and straight girls. But the difference between men got worse by ages 19 and 20, with gay young men almost four times more likely than their straight peers to be bullied.


The mixed results for young gay men may reflect the fact that masculine tendencies in girls and women are more culturally acceptable than femininity in boys and men, Robinson said.


Savage, who was not involved in the study, agreed.


"A lot of the disgust that people feel when you bring up homosexuality ... centers around gay male sexuality," Savage said. "There's more of a comfort level" around gay women, he said.


Kendall Johnson, 21, a junior theater major at the University of Illinois, said he was bullied for being gay in high school, mostly when he brought boyfriends to school dances or football games.


"One year at prom, I had a guy tell us that we were disgusting and he didn't want to see us dancing anymore," Johnson said. A football player and the president of the drama club intervened on his behalf, he recalled.


Johnson hasn't been bullied in college, but he said that's partly because he hangs out with the theater crowd and avoids the fraternity scene. Still, he agreed, that it generally gets better for gays as they mature.


"As you grow older, you become more accepting of yourself," Johnson said.


___


Online:


Pediatrics: http://www.pediatrics.org


It Gets Better: http://www.itgetsbetter.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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Wall Street pulls back after recent gain; data disappoints

NEW YORK (Reuters) - Stocks dropped on Monday, pulling back from gains in the prior session that left the S&P 500 at a five-year high and the Dow above 14,000, as factory orders data disappointed and worries about the euro zone crisis resurfaced.


The S&P 500 was on track for its biggest daily percentage decline since December 28. Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades.


"The market is due for a pullback. That's not really a surprise. I think people are looking for an excuse to make sales," said Michael James, senior trader at Wedbush Morgan in Los Angeles.


Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.


Data from the Commerce Department showed overall factory orders for December were below economists' expectations.


The Dow Jones industrial average <.dji> was down 120.19 points, or 0.86 percent, at 13,889.60. The Standard & Poor's 500 Index <.spx> was down 14.65 points, or 0.97 percent, at 1,498.52. The Nasdaq Composite Index <.ixic> was down 40.53 points, or 1.27 percent, at 3,138.57.


The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.


The S&P index <.spx> is up 5.5 percent for the year, with nearly half of the gains coming after U.S. legislators temporarily sidestepped the "fiscal cliff" of automatic tax increases and spending cuts.


The CBOE Volatility index VIX <.vix>, Wall Street's so-called fear gauge, jumped more than 10 percent to 14.48 by afternoon trade.


Chevron Corp dipped 0.9 percent to $115.50 after UBS cut its rating to neutral, while Wal-Mart Stores Inc shed 1.1 percent to $69.69 after JP Morgan lowered its rating on the world's largest retailer and reduced its price target.


Shares of household products company Clorox rose 1.3 percent to $80.23 after quarterly profit beat analysts' estimates as a severe flu season boosted sales of disinfecting wipes.


According to Thomson Reuters data, of the 256 companies in the S&P 500 that have reported earnings through Monday morning, 68.4 percent have reported earnings above analyst expectations compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.


S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent fourth-quarter earnings forecast on October 1.


Herbalife Ltd slumped 2.5 percent to $34.16 after the New York Post newspaper reported the seller of weight loss products is facing a probe by the Federal Trade Commission.


(Additional reporting by Angela Moon; Editing by Kenneth Barry and Nick Zieminski)



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Iran hedges on nuclear talks with six powers or U.S.


MUNICH (Reuters) - Iran said on Sunday it was open to a U.S. offer of direct talks on its nuclear program and that six world powers had suggested a new round of nuclear negotiations this month, but without committing itself to either proposal.


Diplomatic efforts to resolve a dispute over Iran's nuclear program, which Tehran says is peaceful but the West suspects is intended to give Iran the capability to build a nuclear bomb, have been all but deadlocked for years, while Iran has continued to announce advances in the program.


Iranian Foreign Minister Ali Akbar Salehi said a suggestion on Saturday by U.S. Vice President Joe Biden that Washington was ready for direct talks with Iran if Tehran was serious about negotiations was a "step forward".


"We take these statements with positive consideration. I think this is a step forward but ... each time we have come and negotiated it was the other side unfortunately who did not heed ... its commitment," Salehi said at the Munich Security Conference where Biden made his overture a day earlier.


He also complained to Iran's English-language Press TV of "other contradictory signals", pointing to the rhetoric of "keeping all options on the table" used by U.S. officials to indicate they are willing to use force to keep Iran from obtaining a nuclear weapon.


"This does not go along with this gesture (of talks) so we will have to wait a little bit longer and see if they are really faithful this time," Salehi said.


Iran is under a tightening web of sanctions. Israel has also hinted it may strike if diplomacy and international sanctions fail to curb Iran's nuclear drive.


In Washington, Army General Martin Dempsey, the top U.S. military officer, said in an interview broadcast on Sunday that the United States has the capability to stop any Iranian effort to build nuclear weapons, but Iranian "intentions have to be influenced through other means."


Dempsey, chairman of the Joint Chiefs of Staff, made his comments on NBC's program "Meet the Press," speaking alongside outgoing Defense Secretary Leon Panetta.


Panetta said current U.S. intelligence indicated that Iranian leaders have not made a decision to proceed with the development of a nuclear weapon.


"But every indication is they want to continue to increase their nuclear capability," he said. "And that's a concern. And that's what we're asking them to stop doing."


The new U.S. secretary of state, John Kerry, has said he will give diplomacy every chance of solving the Iran standoff.


THE BEST CHANCE


With six-power talks making little progress, some experts say talks between Tehran and Washington could be the best chance, perhaps after Iran has elected a new president in June.


Negotiations between Iran and the six powers - Russia, China, the United States, Britain, France and Germany - have been deadlocked since a meeting last June.


EU officials have accused Iran of dragging its feet in weeks of haggling over the date and venue for new talks.


Salehi said he had "good news", having heard that the six powers would meet in Kazakhstan on February 25.


A spokesman for EU foreign policy chief Catherine Ashton, who coordinates the efforts of the six powers, confirmed that she had proposed talks in the week of February 25 but noted that Iran had not yet accepted.


Kazakhstan said it was ready to host the talks in either Astana or Almaty.


Salehi said Iran had "never pulled back" from the stuttering negotiations with the six powers. "We still are very hopeful. There are two packages, one package from Iran with five steps and the other package from the (six powers) with three steps."


Iran raised international concern last week by announcing plans to install and operate advanced uranium enrichment machines. The EU said the move, potentially shortening the path to weapons-grade material, could deepen doubts about the peaceful nature of Iran's nuclear program.


Prime Minister Benjamin Netanyahu said on Sunday that Israel's mission to stop its arch-enemy from acquiring nuclear weapons was "becoming more complex, since the Iranians are equipping themselves with cutting-edge centrifuges that shorten the time of (uranium) enrichment".


"We must not accept this process," said Netanyahu, who is trying to form a new government after winning an election last month. Israel is generally believed to be the only country in the Middle East with nuclear weapons.


(Additional reporting by Myra MacDonald and Stephen Brown in Munich, Dmitry Solovyov in Almaty, Yeganeh Torbati in Dubai and Jim Wolf in Washington; Editing by Kevin Liffey and Will Dunham)



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Kuwaiti gets five years for insulting ruler






KUWAIT (Reuters) – A Kuwaiti court sentenced a man to five years in prison on Sunday for insulting the emir on Twitter, a rights lawyer and news websites said, in the latest prosecution for criticism of authorities via social media in the Gulf Arab state.


The court gave Kuwaiti Mohammad Eid al-Ajmi the maximum sentence for the comments, news websites al-Rai and alaan.cc reported.






In recent months Kuwait has penalized several Twitter users for criticizing the emir, who is described as “immune and inviolable” in the constitution.


“We call on the government to expand freedoms and adhere to the international (human rights) conventions it has signed,” said lawyer Mohammad al-Humaidi, director of the Kuwait Society for Human Rights, commenting on the case.


Courts in Kuwait generally do not comment to the media.


Amnesty International said in November Kuwait had increased restrictions on freedom of expression and assembly.


It urged Kuwait to ensure protection for users of social media, whether they supported or opposed the government, as long as they did not incite racial hatred or violence.


Kuwait, a U.S. ally and major oil producer, has been taking a firmer line on politically sensitive comments aired on the internet. Twitter is extremely popular in the country of 3.7 million.


In January, a court sentenced two men in separate cases to jail time for insulting the emir on Twitter.


In June 2012, a man was sentenced to 10 years in prison after he was convicted of endangering state security by insulting the Prophet Mohammad and the Sunni Muslim rulers of Saudi Arabia and Bahrain on social media.


Two months later, authorities detained Sheikh Meshaal al-Malik Al-Sabah, a member of the ruling family, over remarks on Twitter in which he accused authorities of corruption and called for political reform.


The recent Twitter cases have been carried out under the state security law and penal code. Last year Kuwait passed new legislation aimed at regulating social media.


Public demonstrations and debates about local issues are common in a state that allows the most dissent in the Gulf, but Kuwait has avoided the kind of mass unrest that unseated four heads of Arab states in 2011.


But tensions intensified between authorities and opposition groups last year ahead of a parliamentary election deemed unfair by opposition politicians and activists.


The opposition movement said new voting rules introduced by Sheikh Sabah by emergency decree in October would skew the December 1 election in favor of pro-government candidates. The emir said the old voting system was flawed and that his changes were constitutional and necessary for Kuwait’s “security and stability”.


(Reporting by Ahmed Hagagy, Writing by Sylvia Westall; editing by Sami Aboudi and Andrew Roche)


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Justin Timberlake Kicks Off Super Bowl Weekend By Returning to the Stage















02/03/2013 at 02:30 PM EST



stippled-photo

Justin Timberlake is bringing music back in a major way.

The singer – who says he'll release a new album this year – marked his return to the stage at DirecTV's Super Saturday Night event in New Orleans.

And for those lucky enough to attend, Timberlake, 32, performed his single "Suit & Tie" with Jay-Z.

Paul McCartney and wife Nancy Shevell, Nashville's Hayden Panettiere, Sofia Vergara, David Arquette, Kate Upton, Will Ferrell, Aaron Paul and more were just a few of the A-listers enjoying the show.

John Legend and fiancé Chrissy Teigen posed for photos with Jay-Z and Timbaland and showed them off on Twitter.

Questlove of The Roots also shared his two cents on Timberlake's return by posting on Instagram. "Dude is KILLLIINNNNGGG it," he wrote, sharing a photo of Timberlake at the mic.

But Timberlake wasn't the only one to take the stage – Katy Perry, The Fray performed and Questlove, Jersey Shore's Paul "Pauly D" DelVecchio and Tom Cruise's son, Connor, all played deejay sets.

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New rules aim to get rid of junk foods in schools


WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.


For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.


Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.


The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.


Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.


"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.


Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.


The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.


The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.


Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.


"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.


Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.


The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.


Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.


Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.


"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.


The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.


A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.


___


Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick


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