Apple falls on lower shipment forecasts, muted China debut






(Reuters) – Apple Inc shares fell 3.9 percent on Friday after the iPhone 5 debuted in China to a cool reception and two analysts cut shipment forecasts.


Jefferies analyst Peter Misek trimmed his iPhone shipment estimates for the Jan-March quarter, saying that the technology company had started cutting orders to suppliers to balance excess inventory.






Shares of Apple suppliers Jabil Circuit Inc, Qualcomm Inc, Skyworks Solutions Inc, TriQuint Semiconductor Inc, Avago Technologies Ltd, and Cirrus Logic Inc also fell in early trading.


Apple shares have lost a quarter of their value since they hit a life high of $ 705.07 on September 21, as it faces increasing competition from phones using Google Inc’s Android operating system.


Misek cut his first-quarter iPhone sales estimate to 48 million from 52 million and gross margin expectations for the company by 2 percentage points to 40 percent.


UBS Investment Research cut its price target on Apple stock to $ 700 from $ 780 on lower expected iPhone and iPad shipments for the March quarter.


The brokerage said it was modeling more conservative growth for the world’s biggest technology company after making supply chain checks that revealed that fewer iPhones were being built.


“Some of our Chinese sources do not expect the iPhone 5 to do as well as the iPhone 4S,” UBS analyst Steven Milunovich wrote in a note to clients.


Apple launched the iPhone 5 in China on Friday, a move widely expected to bring the Cupertino-based company some respite from a recent slide in market share in China, but early reports indicated that demand may not be as great as expected.


“The iPhone 5 China launch has been surprisingly muted but (we) are unsure how much weather (snow) or the required pre-ordering (to prevent riots) are factors,” Misek said.


Apple shares fell as low as $ 508.50 in morning trading on the Nasdaq on Friday.


(Editing by Supriya Kurane)


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TLC’s “Best Funeral Ever” runs Reality TV into the ground






LOS ANGELES (TheWrap.com – TLC, which brought the world “Here Comes Honey Boo Boo” and “Sister Wives,” has hit new depths: The new one-hour special “Best Funeral Ever” will follow dead people’s journey to the grave.


The network announced Thursday that “Best Funeral Ever” will focus on the Golden Gate Funeral Home in Dallas, which prides itself on its unique theme funerals – or as Golden Gate calls them, “home-going celebrations.”






“A home-going is much different than a funeral, it’s a celebration,” Golden Gate CEO John Beckwith Jr. says of his company’s approach. “The Golden Gate experience is our version of the traditional African American home-going celebration. We do not produce generic funerals; everybody’s experience has to be different.”


In the case of “Best Funeral Ever,” that includes a Christmas-inspired funeral complete with elves, reindeer and snow and a barbecue-themed sendoff for a doo-wop singer who was well-known for a rib sauce jingle. A State Fair-themed funeral will allow a man whose disabilities prevented him from riding roller coasters to finally, um, experience the thrill rides, games and attractions he missed out on in life. (Sounds like a great sequel to “Weekend at Bernie’s.”)


“Best Funeral Ever,” which is produced by Park Slope Productions, will premiere December 26 at 8 p.m. – just in case you’re experiencing any residual Christmas cheer and need a reminder of your mortality.


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APNewsBreak: Texas cancer probe draws NCI scrutiny






AUSTIN, Texas (AP) — The federal National Cancer Institute says it’s taking a fresh look at a troubled $ 3 billion cancer-fighting effort already being scrutinized by prosecutors and lawmakers in Texas.


The U.S. government’s cancer research agency confirmed Friday that upheaval within the Cancer Prevention and Research Institute of Texas caught its attention. NCI spokeswoman Aleea Farrakh Khan told The Associated Press that officials are “evaluating recent events” at CPRIT.






CPRIT is on an exclusive list of NCI-approved funding entities, which includes the American Cancer Society. The designation is a federal seal-of-approval that signals high peer review standards and conflict of interest policies.


Khan says NCI has made no decisions about CPRIT or contacted the agency directly.


Prosecutors are investigating CPRIT following an $ 11 million award to a private company that bypassed review.


Diseases/Conditions News Headlines – Yahoo! News


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Report: Children shot, killed at Conn. elementary school


NEWTOWN, Connecticut (Reuters) - At least 27 people, including children, were killed on Friday when at least one shooter opened fire at an elementary school in Newtown, Connecticut, CBS News reported, citing unnamed officials.


The shooter, the father of a student there, was also killed, CBS News reported. The principal and school psychologist were among the dead, CNN said.


There were unconfirmed reports of a second shooter after witnesses reported hearing dozens of shots fired.


Sandy Hook Elementary School teaches children from kindergarten through fourth grade - roughly ages 5 to 10.


"It was horrendous," said parent Brenda Lebinski, who rushed to the school where her daughter is in the third grade. "Everyone was in hysterics - parents, students. There were kids coming out of the school bloodied. I don't know if they were shot, but they were bloodied."


Television images showed police and ambulances at the scene, and parents rushing toward the school. Parents were seen reuniting with their children and taking them home.


(Additional reporting by Dan Burns, Chris Francescani and Paul Thomasch; Editing by Daniel Trotta and Jackie Frank)



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UPDATE 3-Cricket-Hughes shines as Australia reach 299-4






* Hughes falls just short of century


* Clarke and Hussey combine for 101






* Welegedera takes 3-99 (Adds quotes)


HOBART, Dec 14 (Reuters) – Phil Hughes made a solid 86 on his return to test cricket before Michael Clarke and Mike Hussey took up the running and steered Australia to 299 for four at close of play on the first day of the first test against Sri Lanka on Friday.


Hughes was the only batsmen to fall in the final session, lasting only a couple of overs after lunch before being bowled through the gate by Chanaka Welegedera, giving the Sri Lankan seamer his third wicket of the day.


Clarke, who had made 70 not out, and Hussey, unbeaten on 37, batted through the remainder of the day and if the evidence of their prolific partnerships in the recent series against South Africa is anything to go by, will take some shifting.


“Overall, 299 for four puts the ball in our court,” said Hughes. “I thought we were outstanding today. It really gives us momentum going into tomorrow.”


Sri Lanka’s bowlers, dubbed this week as the worst pace attack ever to tour Australia by former test bowler Rodney Hogg, made life uncomfortable for the batsmen at times but struggled for any real penetration under cloudy skies at Bellerive Oval.


“I think we showed we can put Australia under pressure and hopefully the bowlers will be fresh in the morning and we can get them out for less than 100 additional runs,” said Welegedera, who finished with 3-99 on his return after nine months out injured.


Clarke, who passed 1,400 runs for the year, has now put on 731 runs in partnerships with Hussey in the last four tests and will be looking to plunder a few more on Saturday despite taking a couple of painful knocks to his legs.


Friday, however, belonged to Hughes.


The lefthander was recalled to the side on the back of good domestic form following the retirement of Ricky Ponting at the end of the series against the Proteas.


The 24-year-old reached his fourth test half century with a square drive for three runs and then initially accelerated towards a century, most notably with an ugly but effective slog for six off spinner Rangana Herath.


CALAMITOUS RUNOUT


On the ground where his second spell as a test batsman ended amid questions about his technique after two failures against New Zealand last year, Hughes scored eight fours and one six in his 166-ball knock before Welegedera struck with a superb ball.


“It was nice to get a few,” he said. “It would have been nice to get a few more and get into three figures.”


Australia had lost openers Ed Cowan (four) and David Warner in the opening session, the latter run out for 57 on the stroke of lunch after a calamitous misunderstanding with Hughes.


Shane Watson, dropping down to fourth in the batting order to allow Hughes to come in at number three, followed them to the pavilion for 30 shortly before tea, the victim of an exceptional diving catch in the slips by skipper Mahela Jayawardene.


That was a second wicket for Welegedera and a measure of redemption for the bowler after he had Hughes caught behind for 77 only for the umpire to call a no ball.


Welegedera had also made the early breakthrough for the tourists when Cowan tried to pull a short delivery only for the ball to catch him high on the bat and carry to mid-on where Shaminda Eranga took a simple catch.


It could have been even better for the Sri Lankans, who were only centimetres away from the perfect start to the morning after Clarke had won the toss and elected to bat.


Cowan edged the second delivery of the day from Nuwan Kulasekara to the slips but Angelo Mathews was just unable to get his hands to it, despite an athletic dive. (Editing by Peter Rutherford)


Australia / Antarctica News Headlines – Yahoo! News


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Home invasion victim gets help over Xbox headset






NORTH APOLLO, Pa. (AP) — Police say a Pennsylvania man used his Xbox headphones to call for help after being bound with duct tape and menaced with a gun during a home invasion.


Investigators say the 22-year-old suburban Pittsburgh man was playing video games in an upstairs bedroom when he heard his front door open. The man initially thought it was a family member but saw an armed man wearing a ski mask when he looked downstairs.






Authorities say the intruder bound Derick Shaffer and led him around the North Apollo home to locate valuables, then fled in Shaffer’s car. Shaffer reached a friend over his Xbox Live headset and had him call police.


The missing car was located about an hour later. Police questioned three people but are still trying to identify a suspect.


Gaming News Headlines – Yahoo! News


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Roche wins EU nod for breast cancer drug Perjeta






ZURICH (Reuters) – European health regulators recommended Roche‘s breast cancer drug Perjeta for approval on Friday, cementing the company’s hopes that the drug will become the standard of care for an aggressive, incurable form of cancer.


Roche is hoping that combining Perjeta with its older drug Herceptin will become the standard treatment for women with a form of cancer known as HER2-positive, which makes up about a quarter of all breast cancers and has no cure.






Breast cancer is the most common cancer among women worldwide, with about 1.4 million new cases diagnosed each year and more than 450,000 women dying of the disease annually, according to the World Health Organization’s International Agency for Research on Cancer.


U.S. health regulators already granted the drug approval in June. Recommendations from the European Medicine’s Agency (EMA) are normally endorsed by the European Commission within a couple of months.


Perjeta is an effective but costly drug. A typical 18-month course of Perjeta plus Herceptin costing approximately $ 188,000.


Vontobel analyst Andrew Weiss forecasts peak sales of 2 billion Swiss francs ($ 2.15 billion) for the drug.


Roche is also developing an “armed antibody” known as TDM-1 as a treatment for HER2-positive breast cancer. TDM-1 combines Herceptin with a derivative of a powerful type of chemotherapy and is designed to reduce unpleasant side effects.


(Reporting by Caroline Copley; Editing by Hans-Juergen Peters)


Diseases/Conditions News Headlines – Yahoo! News


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Shooting reported in Newtown, Conn., elementary school; Shooter reported dead

Driving in the rural town of Veazie, Maine, after midnight, a woman accidentally hits what she thinks is an oversized cat. She puts the unconscious animal in her car and drives several miles. In the town of Bangor, Maine, the cat regains consciousness. That’s when the...
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Shawn Levy’s 21 Laps signs new first look deal with Fox






NEW YORK (TheWrap.com) – Fox has signed a new three-year first look deal with director/producer Shawn Levy‘s 21 Laps, the production company behind “Night at the Museum” and “The Watch,” the companies announced on Wednesday.


21 Laps is already based at Fox, having supplied the studio with several comedy titles over the past few years. While its most recent, “The Watch,” disappointed at the box office, the company has otherwise provided a steady supply of hits.






The original “Night at the Museum leads the pack with $ 570 million at the global box office, while the sequel surpassed $ 400 million.


“Shawn’s boundless energy, ambition and effortless creativity make him the perfect partner,” Emma Watts, Fox’s president of production, said in a statement. “We are lucky he continues to call Fox his home.”


21 Laps has a couple of projects due for release in 2013 – “The Internship,” starring Vince Vaughn and Owen Wilson, and “The Spectacular Now,” starring Miles Teller and Shailene Woodley.


Levy directed “The Internship,” his first job since “Real Steel,” which Disney released. That film debuts June 7.


21 Laps also has several projects in development, including a third installment of “Night at the Museum” and “Project Aloha,” which Levy plans to direct from a script by Nick Stoller. It is also at work on projects beyond Fox, such as “Story of Your Life,” a sci-fi thriller that Nic Mathieu will direct.


In signing a new deal with Fox, 21 Laps also announced a series of promotions. Billy Rosenberg moves up to the Senior Vice President level from Vice President while Dan Cohen rejoins the company from Mandeville as VP.


TV News Headlines – Yahoo! News


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Aides: Chavez in tough fight, may miss swearing-in






CARACAS, Venezuela (AP) — Somber confidants of President Hugo Chavez say he is going through a difficult recovery after cancer surgery in Cuba, and one close ally is warning Venezuelans that their leader may not make it back for his swearing-in next month.


Information Minister Ernesto Villegas said Wednesday night that Chavez was in “stable condition” and was with close relatives in Havana. Reading a statement, he said the government invites people to “accompany President Chavez in this new test with their prayers.”






Villegas expressed hope about the president returning home for his Jan. 10 swearing-in for a new six-year term, but said in a written message on a government website that if Chavez doesn’t make it, “our people should be prepared to understand it.”


Villegas said it would be irresponsible to hide news about the “delicateness of the current moment and the days to come.” He asked Venezuelans to see Chavez’s condition as “when we have a sick father, in a delicate situation after four surgeries in a year and a half.”


Moving to prepare the public for the possibility of more bad news, Vice President Nicolas Maduro looked grim when he acknowledged that Chavez faced a “complex and hard” process after his latest surgery.


At the same time, officials sought to show a united front amid the growing worries about Chavez’s health and Venezuela’s future. Key leaders of Chavez’s party and military officers appeared together on television as Maduro gave updates on Chavez’s condition.


“We’re more united than ever,” said Maduro, who was flanked by National Assembly President Diosdado Cabello and Oil Minister Rafael Ramirez, both key members of Chavez’s inner circle. “We’re united in loyalty to Chavez.”


Analysts say Maduro could eventually face challenges in trying to hold together the president’s diverse “Chavismo” movement, which includes groups from radical leftists to moderates, as well as military factions.


Tapped by the 58-year-old president over the weekend as his chosen political heir, Maduro is considered to be a member of radical left wing of Chavez’s movement that is closely aligned with Cuba’s communist government.


Cabello, a former military officer who also wields power within Chavez’s movement, shared the spotlight with Maduro by speaking at a Mass for Chavez’s health at a military base.


Just returned from being with Chavez for the operation, Cabello called the president “invincible” but said “that man who is in Havana … is fighting a battle for his life.”


After Chavez’s six-hour operation Tuesday, Venezuelan television broadcast religious services where people prayed for Chavez, interspersed with campaign rallies for upcoming gubernatorial elections.


On the streets of Caracas, people on both sides of the country’s deep political divide voiced concerns about Chavez’s condition and what might happen if he died.


At campaign rallies ahead of Sunday’s gubernatorial elections, Chavez’s candidates urged Venezuelans to vote for pro-government candidates while they also called for the president to get well.


“Onward, Commander!” gubernatorial candidate Elias Jaua shouted to a crowd of supporters at a rally Wednesday. Many observers said it was likely Chavez’s candidates could get a boost from their supporters’ outpouring of sympathy for Chavez.


Opposition leader Henrique Capriles, who lost to Chavez in the October presidential election and is running against Jaua, complained Wednesday that Chavez’s allies are taking advantage of the president’s health problems to try to rally support. He took issue with Jaua’s statement to supporters that “we have to vote so that the president recovers.”


Maduro looked sad as he spoke on television, his voice hoarse and cracked at times after meeting in the pre-dawn hours with Cabello and Ramirez. The pair returned to Venezuela about 3 a.m. after accompanying Chavez to Cuba for his surgery.


“It was a complex, difficult, delicate operation,” Maduro said. “The post-operative process is also going to be a complex and hard process.”


Without giving details, Maduro reiterated Chavez’s recent remarks that the surgery presented risks and that people should be prepared for any “difficult scenarios.”


The constitution says presidents should be sworn in before the National Assembly, and if that’s not possible then before the Supreme Court.


Former Supreme Court magistrate Roman Duque Corredor said a president cannot delegate the swearing-in to anyone else and cannot take the oath of office outside Venezuela. A president could still be sworn in even if temporarily incapacitated, but would need to be conscious and in Venezuela, Duque told The Associated Press.


If a president-elect is declared incapacitated by lawmakers and is unable to be sworn in, the National Assembly president would temporarily take charge of the government and a new presidential vote must be held within 30 days, Duque said.


Chavez said Saturday that if an election had to be held, Maduro should be elected president.


The dramatic events of this week, with Chavez suddenly taking a turn for the worse, had some Venezuelans wondering whether they were being told the truth because just a few months ago the president was running for his fourth presidential term and had said he was free of cancer.


Lawyer Maria Alicia Altuve, who was out in bustling crowds in a shopping district of downtown Caracas, said it seemed odd how Maduro wept at a political rally while talking about Chavez.


“He cries on television to set up a drama, so that people go vote for poor Chavez,” Altuve said. “So we don’t know if this illness is for that, or if it’s that this man is truly sick.”


Some Chavez supporters said they found it hard to think about losing the president and worried about the future. His admirers held prayer vigils in Caracas and other cities this week, holding pictures and singing hymns.


Chavez has undergone four cancer-related surgeries since June 2011. He has also undergone months of chemotherapy and radiation treatments. Throughout his treatments, Chavez has kept secret some details of his illness, including the exact location and type of the tumors.


Ecuadorean President Rafael Correa wished his close ally the best, while also acknowledging the possibility that cancer might end his presidency. “Chavez is very important for Latin America, but if he can’t continue at the head of Venezuela, the processes of change have to continue,” Correa said at a news conference in Quito.


___


Associated Press writer Christopher Toothaker contributed to this report.


Latin America News Headlines – Yahoo! News


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