Amazon’s spending spree to hurt margins now, boost profit later: analysts
















(Reuters) – Amazon.com Inc‘s spending spree will hurt margins in the near term but boost profit in the long run, analysts said, after the world’s No.1 internet retailer posted a loss on heavy spending on technology, infrastructure and digital content.


Amazon shares were set to open about 2 percent higher on Friday even though the company forecast weak sales ahead of the crucial holiday shopping quarter.












Analysts remained largely optimistic about Amazon‘s ability to post strong growth in its e-commerce and international business despite the economic slowdown in Europe that also contributed to the company’s third-quarter loss.


“The low 4Q12 revenue growth guidance presents an upside opportunity particularly given the continued solid customer and unit increases and the strong third-party business,” said Needham & Co analyst Kerry Rice, who has a “hold” rating on the stock.


Amazon’s current quarter could also benefit from strong e-commerce trends as more consumers shift online to make their holiday purchases, he added.


Barclays Capital Inc analyst Anthony DiClemente cut his target on the stock to $ 220 from $ 230, but said Amazon has regularly shown a tendency to set low expectations.


Susquehanna International, while cutting its price target on the stock to $ 255 from $ 275, said it was positive on Amazon’s growing presence in third-party retail, its digital business leading the transformation of books, music and videos, and its unrivaled network of distribution centers and web service.


RBC Capital Markets raised its price target to $ 250 from $ 245, and said it remained bullish on Amazon’s opportunities in worldwide retail as it expands in geographies and categories.


International sales rose 20 percent to $ 5.92 billion in the quarter from a year earlier.


(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian)


Internet News Headlines – Yahoo! News



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Jill Scott to star in Fox Searchlight’s ‘Baggage Claim’
















NEW YORK (TheWrap.com) – Jill Scott, the Grammy-winning neo soul singer-songwriter, will star in “Baggage Claim” for Fox Searchlight, the studio announced on Thursday.


She will appear alongside Paula Patton and Derek Luke in this romantic comedy from writer/director David E. Talbert.












Patton will play Montana Moore, a flight attendant who tries to find a man before her sister’s upcoming wedding. Scott will play Gail Best, Moore’s blunt best friend and coworker.


The film is set to begin production this fall and is tentatively scheduled to open in theaters next year.


Scott, who has won three Grammys and garnered 13 nominations, just took to the small screen in Lifetime’s “Steel Magnolias.” She has also had roles in a variety of movies, including Tyler Perry’s “Why Did I Get Married.”


Movies News Headlines – Yahoo! News



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First Person: A Supportive Partner Makes All the Difference when Fighting Breast Cancer
















To mark Breast Cancer Awareness Month, Yahoo News asked women who have had breast cancer or are going through treatment to write about the people in their lives who stood by them and cared for them. Here’s one story.


FIRST PERSON | It was Feb. 19, 2007, when I was told I had breast cancer.












I was just 32, with two children, Adam, 4, and Kaitlyn, 14, and a marriage that was close to ending after 15 years. We were living in Hillsborough, N.C., and moving to Efland.


Little did we know that move was a blessing in disguise for our whole family.


My husband, Kenny, and I had been having a lot of issues for a few years, most of them financial. We had started renting to own a home from a “friend,” and things were going well until he unexpectedly re-financed the house and our payment went up almost $ 400 a month. We tried to keep up, but we couldn’t, so we moved into a smaller home. This caused a lot more tension in between us, and it was almost the straw that broke up the marriage.


One day after moving, I was putting a box in the top of the closet and felt something “out of place” on the outside of my left breast. I mentioned it to my husband, and he told me to make a doctor’s appointment. Well, I brushed it aside but then Kaitlyn wanted to play soccer and had to have a physical so I figured I’d make myself an appointment too just to see what our doctor thought.


On my 32nd birthday, I went to see our family doctor. As soon as he felt it, he sent me for a mammogram the next day–Valentine’s Day. Kenny, Adam and I went to the imaging center at Duke. I thought it would be a cyst or something less severe, so why not bring my son along instead of finding a babysitter? Based on the imaging from the mammogram and ultrasound they all but said, “It’s cancer.” I was sent the next day to have a biopsy.


We got the call Monday afternoon. My husband answered, our family doc had called, and was told it was stage II intraductal carcinoma. I was in complete shock. My husband held me and let me cry. Starting that day, our relationship changed for the better. I always joked that cancer saved my marriage. But, in all reality, it did.


Kenny never missed a doctor’s appointment, which is one of the greatest things about having a good partner during this time. With chemotherapy, you will develop something called chemo brain. Yes, it is real! He remembered all the details from the appointments.


In March, I started chemotherapy. I would go every other week over an 18-week period, nine total rounds. A lot of those doctor’s appointments, especially chemo days, were very long days and if he weren’t there to keep me company I would’ve gone insane. We laughed, we talked, we spent a lot of time together, and got to know each other again. We learned to love again because you never know when tragedy can strike. And if he weren’t there, I don’t know who would’ve gone to get me french fries. He really was my rock. When I doubted I could do anymore or just needed to cry, he was always there and always telling me we would get through this. July 11, 2007, was my last day of chemo. I was so happy to have that part of it behind us but there was still more to go.


I am a stay-at-home mom, so my job is to cook, clean and take care of my family. I just didn’t have the energy to do that. But thanks to my wonderful husband and completely awesome daughter, I didn’t have to worry about that stuff at all. Another perk to having a supportive partner is that they understand you just can’t do a lot of what you are used to doing when you’re so exhausted from fighting cancer. And if ever you need to take time for yourself, it is during this time! My house got cleaned, food got served and kids got taken care of and that took a lot off of my worried mind!


After I had my bilateral mastectomy on Aug. 9, I thought I was a freak. I couldn’t do reconstruction right away, so here I was, a 32-year-old woman walking around with no breasts. I thought, “That’s a big part of what makes me a woman, now what?” But I was so wrong about that and Kenny let me know how wrong I was. I tell everyone if I had any doubt about how much he loved me this is when it all went away. I couldn’t take a shower or a bath for a few days after and I had these drain tubes that had to be emptied twice a day, which I couldn’t do on my own. My wonderfully supportive husband emptied my drains, measured the drainage and basically bathed me. If he didn’t love me I don’t think that would have ever happened. Today, we have been married almost 19 years and are happier than we’ve ever been. I know that sounds cliché, but it’s the truth. We let the little things go now and just love each other. It’s not always sunshine and lollipops. But we’re together, and we’re living and loving every day.


So I guess what I am saying here is there are so many areas in your life where you will need that supportive partner to help you fight cancer and to keep you going. Whether it’s keeping up with appointments, remembering what the doctor says, making you laugh, getting you french fries or just holding you, you need a supportive partner. It could be a sibling, a parent, even an adult child but you need someone. No one should go through this difficult, terrible journey on her own; it’s just too much for one person. I really like the term co-survivor because that is what you are doing: You are surviving this together.


Diseases/Conditions News Headlines – Yahoo! News



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Moody’s warns may downgrade five big Canadian banks
















NEW YORK/TORONTO (Reuters) – Moody’s Investors Service warned on Friday it could cut its ratings on five top Canadian banks on concerns about a softening economy and volatile capital markets, a blow to a banking system named the soundest in the world four years in a row.


But the outlook for the sector is no longer as rosy, Moody’s said, because of the risks presented by the macroeconomic environment and a business mix that leans heavily on domestic mortgages and other consumer lending.












Canadian consumer debt has risen to record highs in recent months, a situation reminiscent of the United States before its 2008 housing crisis. The household debt-to-income ratio jumped to 163.4 percent in the second quarter from 161.8 percent in the first quarter, Statistics Canada said a week ago.


Meanwhile, Canada’s housing market appears to be cooling after several years of red-hot gains.


“Domestically, we’re concerned about the high and increasing levels of consumer indebtedness and elevated housing prices, and we feel that they may tend to leave the Canadian banks more vulnerable to downside risks to the economy than they have been in the past,” David Beattie, Moody’s vice president and senior credit officer, told Reuters.


The warning applies to long-term debt ratings for Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada. It also applies to Caisse Centrale Desjardins, Canada‘s largest association of credit unions.


The ratings agency said any cuts would likely be only one notch. The sector’s ratings are still among the highest in the world.


“We continue to believe that the Canadian banks rank among the strongest in the world, and this review is based on concerns about system-wide and bank-specific risks that aren’t fully captured in their current ratings,” said Beattie.


The only bank not put on credit watch on Friday was Royal Bank of Canada, the country’s largest. That’s because Moody’s lowered RBC’s ratings by two notches in June as part of a review of 17 global banks.


Moody’s did place RBC’s supported subordinated debt ratings on review for downgrade, while affirming its other ratings.


CAPITAL MARKETS EXPOSURE


Moody’s also cited the sizable capital markets exposure of Scotiabank, BMO, CIBC and National Bank as reasons for the warning. Exposure to capital markets was the main reason behind RBC’s ratings cut earlier this year.


For TD, the highest-rated Canadian bank, Moody’s cited concern with its “less-strong” U.S. subsidiary. TD has about 1,300 branches in the United States, outnumbering its branch count in Canada.


TD’s long-term credit rating is currently Aaa, which is the highest rating. Scotiabank and Desjardins are rated Aa1, the next level down, while BMO, CIBC, and National Bank are rated Aa2.


Desjardins was cited because of its more “concentrated” franchise than its Canadian peers, which Moody’s said leaves it less flexibility to respond to profit pressures.


Desjardins has a dominant retail bank presence in the province of Quebec, but lacks the geographic diversity and business mix of the big banks.


Canada’s banks, which had held up much better than their peers during the global economic crisis, were named soundest in the world for four straight years by the World Economic Forum.


The second major debt rating agency, Standard & Poor’s, made a similar move in July, putting RBC, TD, Scotiabank and National Bank on “negative outlook” citing rising consumer debt and elevated housing prices.


Shares of the Canadian banks did not appear to be affected by the Moody’s report, which was released about an hour before markets closed on Friday.


Of the banks placed on review, only TD declined, slipping 0.1 percent to C$ 81.17 on the Toronto Stock Exchange.


CIBC would not comment on the review, while a TD spokesman said the bank “continues to be well capitalized and remains one of the safest and strongest banks in the world.”


The other lenders did not immediately respond to a request for comment.


(Additional reporting by Daniel Bases and Caryn Trokie; Editing by Leslie Adler and Tim Dobbyn)


Economy News Headlines – Yahoo! News



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Amnesty Int: Ivory Coast torturing detainees
















ABIDJAN, Ivory Coast (AP) — Ivory Coast security officials are torturing dozens of detainees by administering electric shocks and other forms of abuse, Amnesty International alleged Friday.


The victims include people charged with endangering state security in the wake of a recent spate of attacks targeting military installations. Since early August, unknown gunmen have carried out roughly 10 attacks at checkpoints, military bases and other installations throughout the country, including in the commercial capital of Abidjan.












United Nations officials have said that more than 200 people have been detained on suspicion of involvement in the attacks, and that torture has been documented at multiple detention facilities.


Gaetan Mootoo, West Africa researcher for Amnesty, said an investigation team received reports of a range of abuses during a recent month-long visit.


“We were able to meet dozens of detainees who told us how they have been tortured by electricity or had molten plastic poured on their bodies,” Mootoo said. “Two of them have been sexually abused. Some have been held for many months denied contact with their families and access to lawyers.”


Army spokesman Cherif Moussa denied the torture allegations Friday. “Our camps are not concentration camps,” he said.


However, he acknowledged the possibility that individual soldiers may occasionally “go beyond what they are allowed to do” when dealing with inmates.


He added that the government tried to ensure that inmates’ rights were respected. “We want to prove that we are not abusing people’s rights,” he said. “We’re working for the state’s security. We’re working for the people’s security.”


Earlier this month, the Associated Press interviewed former detainees at a military camp in the southwestern port town of San Pedro who described widespread beatings as well as the use of electric shocks. A guard at the camp corroborated most of the claims, though camp commanders denied them.


In its statement Friday, Amnesty described how one detainee, a police officer, had died as a result of the torture he endured at the San Pedro camp.


“Serge Herve Kribie was arrested in San Pedro on August 21 by the national army and interrogated about recent attacks,” Amnesty said. “He was stripped naked, tied to a pole, had water poured on his body, and was then subjected to electric shocks. He died a few hours later.”


Amnesty said that some detainees were only released after ransoms were paid. One detainee told the rights group: “My parents first paid 50,000 CFA (a little under US $ 100) and then after my release, my jailers went at my house and demanded a higher sum. I told them that I couldn’t pay such an amount and they agreed to receive 20,000 CFA more (about US$ 40).”


The government has blamed the attacks on allies of former President Laurent Gbagbo, who was arrested in April 2011. Gbagbo’s refusal to cede office after losing the November 2010 election to now-President Alassane Ouattara sparked six months of violence in which at least 3,000 were killed.


Amnesty researchers also met with some of the more than 100 Gbagbo allies – including his wife, Simone – who are being detained on charges stemming from the post-election violence.


“Some of them told us that despite the fact that they have been held since April 2011, they only saw an investigating judge twice for less than a few hours,” Mootoo said.


Despite widespread evidence that forces loyal to Ouattara also committed atrocities during the violence, none have been arrested or credibly investigated, sparking allegations of victor’s justice.


Also Friday, in Amsterdam, judges at the International Criminal Court rejected a request for release by former president Gbagbo, who is being detained on suspicion of crimes against humanity.


Africa News Headlines – Yahoo! News



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Management: Lil Wayne hospitalized and released
















NEW YORK (AP) — Lil Wayne‘s management team says the rapper is on “mandated rest” after a severe migraine and dehydration caused him to be hospitalized.


In a statement released Friday, the Blueprint Group says Lil Wayne was released from the hospital treatment and will return to work soon. They added that the New Orleans-based rapper appreciates his fans’ support and love.












No further details were released.


The 30-year-old multiplatinum performer is working on a follow up to his last album, 2011′s “Tha Carter IV.”


___


Online:


http://www.lilwayne-online.com


Entertainment News Headlines – Yahoo! News



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Bayer cancels diabetes device unit sale: paper
















FRANKFURT (Reuters) – Bayer AG has called off the sale of its blood glucose meters business for now, Financial Times Deutschland reported, citing industry and financial sources.


According to the paper, Germany‘s largest drugmaker could not find a buyer who was willing to pay the asking price.












The unit has annual sales of about 1 billion euros ($ 1.3 billion), which would value it at 1-2 billion euros, based on current multiples, the paper said.


Sources told Reuters in May Bayer was considering the sale of the unit, because it offers few synergies with its other healthcare activities.


($ 1 = 0.7716 euros)


(Reporting by Harro ten Wolde)


Health News Headlines – Yahoo! News



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Gazans blast Israel with rockets, draws airstrikes
















JERUSALEM (AP) — Hamas militants in the Gaza Strip fired dozens of rockets and mortar shells into southern Israel on Wednesday in the heaviest bombardment on the area in months, drawing ominous Israeli threats of retaliation and dangers of escalation.


The violence came a day after a landmark visit to Gaza by the emir of Qatar. Israeli officials suggested the visit, the first by a head of state to the Hamas-ruled territory, emboldened the militant group.












The rocket fire began shortly after the emir left Gaza late Tuesday and continued through the night. Israeli officials said more than 80 projectiles were fired, and Hamas claimed responsibility for many of the attacks.


Israel responded with a series of airstrikes on rocket launchers, killing two Palestinian militants, according to Gaza medical officials.


Three Thai laborers working on an Israeli farm were wounded, two seriously, when a rocket hit a chicken coop. Other rockets badly damaged five houses and broke car windows. Schools in the area were closed.


Many people spent the day indoors, while others stayed in close proximity to the makeshift cement shelters found in the streets of southern Israeli towns. In one farming community, shrapnel covered trees and a children’s playhouse in a backyard.


“Sometimes it feels like a scene out of the movie ‘Platoon,’ something out of the Vietnam war. We can stay at home and just hear the noise of the war,” said Tamara Cohen, a resident of the border community of Ein Habesor whose children, ages 9 and 5, spent the night in a fortified “safe room” in their home.


A video issued by Hamas’ military wing showed six rockets peeling off in rapid succession, then later, from what appears to be a different location, eight rockets shoot off, leaving plumes of black smoke behind them. Hamas said the video was made earlier in the day, though it provided no proof.


Hamas officials shuttered schools in border areas. Residents said they worried an escalation of fighting would ruin the upcoming Muslim celebration of Eid al-Adha, when Gaza residents feast, visit families, dress their children in new clothes and take them out to play.


Despite the violence, streets in Gaza City were crowded with residents snapping up clothes and food ahead of Friday’s start of the holiday. Traffic jams blocked main roads, and prayer leaders chanted songs for the feast.


Israeli leaders threatened tougher action against the rocket fire.


“We didn’t ask for this escalation and didn’t initiate it,” Prime Minister Benjamin Netanyahu said after touring a missile defense battery. “But if it continues, we are prepared to embark on a far more extensive and penetrating operation.” The army said the “Iron Dome” defense system intercepted at least eight rockets.


Defense Minister Ehud Barak told Israel Radio that “if we need a ground operation, there will be a ground operation. We will do whatever necessary to stop this wave” of violence.


Israel carried out a broad military offensive in Gaza nearly four years ago in response to years of rocket fire. Salvos from Gaza have largely subsided since then, though sporadic violence persists.


The territory is home to numerous militant groups, including murky al-Qaida-inspired organizations that do not answer to Hamas. Gaza has also been flooded with weapons in recent years, many of them believed to have been smuggled from northern Africa and into Gaza through tunnels under the Egyptian border.


On Wednesday, the African country of Sudan accused Israel of carrying out airstrikes that blew up a weapons factory in the capital, Khartoum. Israeli officials did not comment, but analysts said that if the reports were true, the airstrike might have attacked a weapons smuggling route. Sudan has accused Israel of being behind a similar attack on an arms convoy in 2009.


Hostilities in Gaza have been simmering for weeks, with militants sporadically firing rockets into Israel and the Israeli air force responding with airstrikes.


Hamas, which has killed hundreds of Israelis in suicide bombings and other attacks, has largely avoided attacks since a devastating Israeli military offensive nearly four years ago. Instead, smaller groups have been behind most rocket fire, sometimes with Hamas’ tacit blessing and sometimes against its wishes.


While Hamas remains virulently anti-Israel, it has sought to keep things quiet as it consolidates its control of Gaza. The group violently seized the territory from the rival, Western-backed Fatah movement five years ago.


Tuesday’s visit by Qatar’s emir, Sheik Hamad bin Khalifa Al Thani, gave a powerful boost of legitimacy to Hamas rule, which is not internationally recognized.


Hamas officials said the emir urged Hamas to do everything possible to avoid violence with Israel. Israel’s foreign minister, Avigdor Lieberman, suggested the visit had the opposite effect.


“I think what we see, especially yesterday, the visit of the emir of Qatar in Gaza, it’s clear support for terror and terrorist activity,” he said at a news conference with the visiting EU foreign policy chief, Catherine Ashton.


In his meeting with Ashton, Israeli President Shimon Peres charged that Qatari money is funding Hamas attacks. “No one in the world could agree to the current situation” of repeated rocket salvos, Peres said.


Hamas spokesman Fawzi Barhoum accused Israel of trying to raise tensions. He said Israel was upset about the “political and economic gains” reaped from the emir’s visit, and wanted to “disrupt the atmosphere ahead of the holiday.”


Mukheimar Abu Sada, an independent analyst in Gaza, said Hamas had no interest in clashing with Israel now but likely felt pressured after two of its men were killed in an Israeli strike late Tuesday.


“Hamas is under pressure from the people: ‘Where is the resistance that you speak of?’ Hamas needed to save face,” Abu Sada said.


___


Associated Press writers Ibrahim Barzak and Diaa Hadid in Gaza City, Gaza Strip, and Lauren E. Bohn in Jerusalem contributed to this report.


Middle East News Headlines – Yahoo! News



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Academy broadens reach with Nicholl screenwriting fellowships
















LOS ANGELES (TheWrap.com) – This year’s Academy of Motion Picture Arts and SciencesNicholl Fellowship for Screenwriting saw a record 7,197 scripts boiled down to five winners.


Each of the five writers – four Americans and one South African – will receive a $ 35,000, the first installment of which will be given at a gala in Beverly Hills on November 8. It was the first time entries from South Africa and Louisiana won.












In recent years, four of five winners have typically come from California. This year, only one from Los Angeles won.


The 27-year-old program allows fellows to complete a feature-length script during their tenure. The Academy does not take rights to the screenplay or help shop it commercially but the awards attract industry attention.


Last week, producers Rick Gitelson and Jeff Wynne optioned Jeffrey R. Field‘s script “Pop Hit,” which was one of 129 semifinalists.


Here are the winners:


>> Nikole Beckwith, Brooklyn, N.Y., “Stockholm, Pennsylvania”


>> Sean Robert Daniels, Laezonia, Gauteng, South Africa, “Killers”


>> James DiLapo, New York, N.Y., “Devils at Play”


>> Allan Durand, Lafayette, La., “Willie Francis Must Die Again”


>> Michael Werwie, Los Angeles, Calif., “Extremely Wicked, Shockingly Evil, and Vile”


Movies News Headlines – Yahoo! News



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Facebook wins back friends on Wall Street, shares soar
















(Reuters) – Facebook Inc’s shares headed towards their biggest one-day jump on Wednesday after the company reported a surprising rise in mobile advertising, easing concerns it was having trouble capitalizing on soaring use of smartphones and tablets.


Facebook shares were up 21 percent at $ 23.55 in afternoon trade. They were sold for $ 38 each in their initial public offering in May but slumped to a low of $ 17.55 in September as investors fretted about the company’s slowing growth.












Several brokerages raised their price targets on Facebook shares. Barclays Capital raised its target to $ 26 from $ 23, Jefferies & Co to $ 32 from $ 30 and Macquarie Equities Research to $ 24 from $ 21.


Citi Investment Research upgraded the stock to “buy” from “neutral”.


Facebook, which reported third-quarter results on Tuesday, said it now gets 14 percent of its advertising revenue from mobile ads, a far bigger increase than mostly skeptical analysts had expected.


Mobile advertising has been a key investor concern hanging over Facebook, shaving more than $ 50 billion off its market value since its IPO. The world’s largest social network passed 1 billion active users in September but failed to dispel doubts about its mobile strategy.


Chief Executive Mark Zuckerberg, who has himself lost billions of dollars on paper since Facebook’s market debut, said on Tuesday that the mobile opportunity was “the most misunderstood” aspect of Facebook’s business.


“In baseball parlance, Facebook hit two doubles; advertising revenue growth accelerated for the first time in at least six quarters (maybe more), and mobile revenues are moving the needle positively following the launch of new ad formats,” Robert W. Baird & Co analyst Colin Sebastian wrote in a note.


Zuckerberg hinted in September that the company was “halfway through” a cycle to “retool” and offer new advertising products.


Analysts said new products, most of which are in nascent stages, could help the company deliver stronger growth as they come online and start adding to revenue.


Over time, Facebook’s growing expertise in mobile advertising, combined with more user data, will drive mobile monetization for the company, said Sebastian, who has an “outperform” rating on the stock and a price target of $ 32.


Rivals such as Google Inc are also struggling with a shift in consumer preference to mobiles from PCs.


Marissa Mayer, chief executive of struggling internet pioneer Yahoo Inc, said on Monday her top priority was to fashion a coherent strategy to manage the industry’s transition to mobile devices.


SYNCING WITH ADVERTISERS


“Facebook has the potential to utilize user data to better match its users with advertisers,” Wedbush Securities Inc analyst Michael Pachter, who has an “outperform” rating on the stock with a $ 35 price target, wrote in a note.


Needham & Co analyst Laura Martin said Facebook had opportunities to increase branded advertising revenue as top brands increase their association with the company in some form.


Facebook’s advertising revenue increased by 36 percent to $ 1.09 billion in the third quarter.


“The stock has seen its lows and should be able to withstand the coming share lockups,” Wells Fargo Securities analyst Jason Maynard said in a note to clients.


Facebook shares suffered a blow in August after early investors got the green light to sell for the first time since the company went public, starting a string of insider lockup expirations that will pressure the stock for months.


On November 14, more than 1.2 billion shares will be available for trading. Zuckerberg will not be able to sell his shares until then.


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


Social Media News Headlines – Yahoo! News



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