Game not over: Zynga, Take-Two Interactive up






NEW YORK (AP) — Battered shares of Zynga Inc. showed some improvement on Wednesday after the “FarmVille” maker’s fourth-quarter earnings surpassed muted expectations. Old-school video game maker Take-Two Interactive Software Inc., the maker of “Grand Theft Auto,” also saw its stock rise after strong quarterly results.


GameStop Corp., meanwhile, fell nearly 7 percent after new rumors surfaced on the gaming blog Edge that the new Xbox won’t play used games. GameStop, the world’s largest video game retailer, relies on used games for some of its revenue so if the report is true, it would hurt its business.






Wedbush Securities analyst Michael Pachter said while it is possible that Microsoft could include some type of validation in the console that could limit used game sales, “they have no incentive to do so.”


“If they do it alone, they would alienate gamers and Sony would gain share,” he said in an email. “If Sony does it alone, the same thing happens. If they act in concert, there is arguably an antitrust suit in the making.”


Microsoft Corp., the maker of the Xbox, declined to comment. It has not announced plans about the next version of the Xbox. Sony is expected to unveil the next PlayStation at an event in New York City later this month.


Shares of Grapevine, Texas-based GameStop dropped $ 1.82, or 6.8 percent, to $ 24.99 in midday trading. The stock has traded in a 52-week range of $ 15.32 to $ 28.35.


Zynga, meanwhile, added 27 cents, or 9.7 percent, to $ 3.01. The San Francisco-based online game maker reported a smaller loss and flat revenue that nonetheless exceeded analysts’ expectations. The company also indicated that it’s doubling down on mobile games. Zynga’s games are mostly played on Facebook’s web site, but Facebook’s users are mostly checking in to the social network on smartphones and tablet computers.


After a promising initial public offering in December 2011, Zynga’s stock lost 75 percent of its value in 2012 as demand for its games faded. It’s up about 29 percent year-to-date compared with 6 percent gain for the Standard & Poor’s 500 index.


Shares of Take-Two jumped $ 1.51, or 11.9 percent, to $ 14.17, closer to the high end of its 52-week trading range of $ 7.37 and $ 16.35. The New York-based company said strong sales of “NBA 2K3″ and “Borderlands 2″ helped push the quarter’s results ahead of expectations. Investors dismissed guidance that fell short of estimates for the current quarter. That’s because Take-Two is launching the next installment of its biggest game, “Grand Theft Auto,” in September.


Gaming News Headlines – Yahoo! News





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Minka Kelly: 'I'm Not Worthy' of Acting with Oprah















02/08/2013 at 07:40 PM EST







Minka Kelly as Jacqueline Kennedy Onassis


Pacific Coast News


It's intimidating enough to play Jackie O, but Minka Kelly felt even more pressure to perform when she found out who was joining the cast of her latest film, The Butler.

"I'm not worthy. I feel so lucky and grateful. I was like, 'What am I doing here?!' " Kelly tells PEOPLE of starring alongside Robin Williams, Forest Whitaker, John Cusack, Vanessa Redgrave, Jane Fonda and more in the upcoming film, which tells the story of a butler who served eight presidents.

The movie also features another major star: the one and only Oprah Winfrey. "I didn't get to meet Oprah because our shooting schedules were different, but she's a pretty loved lady," Kelly says. "I have yet to hear a bad thing about her!"

Kelly found that the most difficult part of playing Jackie Kennedy was nailing the former first lady's distinct accent. "I think she spoke in a way she thought she should speak, so getting that down was hard. There's a musicality and rhythm to the way she speaks," Kelly explains. "I went to sleep listening to her."

Another tough task? Slipping into the retro costumes. "My body is so different from her because I have curves, so fitting into those vintage clothes was actually really hard," she shares. "Also it was hot – and there was a lot of wool!"

Minka Kelly: 'I'm Not Worthy' of Acting with Oprah| Minka Kelly, Oprah Winfrey

Jennifer Graylock / Getty

But Kelly had no issue slipping into the stunning Oscar de la Renta gown (left) she strutted down the runway in at the Red Dress Collection fashion show in N.Y.C. on Wednesday night. The actress walked for the second year in a row in honor of The Heart Truth campaign, which encourages women to monitor their heart health.

For the month of February, Diet Coke will donate $1 for every person who uploads a heart-inspired photo to Twitter or Instagram using the hashtag #showyourheart. Visit to dietcoke.com/showyourheart for more information.

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After early start, worst of flu season may be over


NEW YORK (AP) — The worst of the flu season appears to be over.


The number of states reporting intense or widespread illnesses dropped again last week, and in a few states there was very little flu going around, U.S. health officials said Friday.


The season started earlier than normal, first in the Southeast and then spreading. But now, by some measures, flu activity has been ebbing for at least four weeks in much of the country. Flu and pneumonia deaths also dropped the last two weeks, the Centers for Disease Control and Prevention reported.


"It's likely that the worst of the current flu season is over," CDC spokesman Tom Skinner said.


But flu is hard to predict, he and others stressed, and there have been spikes late in the season in the past.


For now, states like Georgia and New York — where doctor's offices were jammed a few weeks ago — are reporting low flu activity. The hot spots are now the West Coast and the Southwest.


Among the places that have seen a drop: Lehigh Valley Hospital-Cedar Crest in Allentown, Pa., which put up a tent outside its emergency room last month to help deal with the steady stream of patients. There were about 100 patients each day back then. Now it's down to 25 and the hospital may pack up its tent next week, said Terry Burger, director of infection control and prevention for the hospital.


"There's no question that we're seeing a decline," she said.


In early December, CDC officials announced flu season had arrived, a month earlier than usual. They were worried, saying it had been nine years since a winter flu season started like this one. That was 2003-04 — one of the deadliest seasons in the past 35 years, with more than 48,000 deaths.


Like this year, the major flu strain was one that tends to make people sicker, especially the elderly, who are most vulnerable to flu and its complications


But back then, that year's flu vaccine wasn't made to protect against that bug, and fewer people got flu shots. The vaccine is reformulated almost every year, and the CDC has said this year's vaccine is a good match to the types that are circulating. A preliminary CDC study showed it is about 60 percent effective, which is close to the average.


So far, the season has been labeled moderately severe.


Like others, Lehigh Valley's Burger was cautious about making predictions. "I'm not certain we're completely out of the woods," with more wintry weather ahead and people likely to be packed indoors where flu can spread around, she said.


The government does not keep a running tally of flu-related deaths in adults, but has received reports of 59 deaths in children. The most — nine — were in Texas, where flu activity was still high last week. Roughly 100 children die in an average flu season, the CDC says


On average, about 24,000 Americans die each flu season, according to the CDC.


According to the CDC report, the number of states with intense activity is down to 19, from 24 the previous week, and flu is widespread in 38 states, down from 42.


Flu is now minimal in Florida, Kentucky, Maine, Montana, New Hampshire and South Carolina.


___


Online:


CDC: http://www.cdc.gov/flu/


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Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.


The S&P 500 also posted a sixth straight week of gains for the first time since August.


The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.


Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.


AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.


Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.


"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.


Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.


The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.


"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.


The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.


For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.


Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.


Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.


Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.


Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.


The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.


"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."


Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.


(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)



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China, Japan engage in new invective over disputed isles


BEIJING (Reuters) - China and Japan engaged on Friday in a fresh round of invective over military movements near a disputed group of uninhabited islands, fuelling tension that for months has bedeviled relations between the Asian powers.


An increasingly muscular China has been repeatedly at odds with others in the region over rival claims to small clusters of islands, most recently with fellow economic giant Japan which accused a Chinese navy vessel of locking radar normally used to aim weapons on a Japanese naval ship in the East China Sea.


China's Defence Ministry rejected Japan's complaint about the radar, its first comment on the January 30 incident. It said Japan's intrusive tracking of Chinese vessels was the "root cause" of the renewed tension.


A Japanese official dismissed the Chinese explanation for incident saying China's actions could be dangerous in the waters around the islets, known as Diaoyu in China and Senkaku in Japan, believed to be rich in oil and gas.


Japanese Prime Minister Shinzo Abe led his conservative party to a landslide election victory in December, promising to beef up the military and stand tough in territorial disputes.


On Thursday, another border problem was brought into focus when Japan said two Russian fighter jets briefly entered its air space near long-disputed northern islands, prompting Japan to scramble combat fighters. Russia denied the accusation.


The commander of U.S. forces in the Asia-Pacific said the squabble between Japan and China underlined the pressing need for rules to prevent such incidents turning into serious conflict.


"What we need in the South China Sea is a mechanism that prevents us turning our diplomacy over to young majors and young (naval) commanders ... to make decisions at sea that cause a problem (that escalates) into a military conflict that we might not be able to control," Admiral Samuel Locklear told a conference in the Indonesian capital.


China is in dispute with several Southeast Asian countries including the Philippines and Vietnam over parts of the South China Sea, which is potentially rich in natural resources.


Locklear said governments and their leaders had to understand the potential for things to get out of hand.


"In this case, I think that point has been made pretty clear," he said in reference to international reaction to the dispute between China and Japan.


"IRRESPONSIBLE"


China's Defence Ministry, in a faxed statement late on Thursday, said Japan's complaints did not "match the facts". The Chinese ship's radar, it said, had maintained regular alerting operations and the ship "did not use fire control radar".


The ministry said the Chinese ship was tracked by a Japanese destroyer during routine training exercises. Fire control radar pinpoints the location of a target for missiles or shells and its use can be considered a step short of actual firing.


Japan, the ministry said, had "made irresponsible remarks that hyped up a so-called China threat, recklessly created tension and misled international public opinion".


"Japanese warships and airplanes have often conducted long periods of close-range tracking and surveillance of China's naval ships and airplanes," the Chinese Defence Ministry said.


"This is the root cause of air and maritime security issues between China and Japan."


In Tokyo, Japan's Chief Cabinet Secretary Yoshihide Suga told a news conference Japan could not accept China's explanation and Japan's accusation came after careful analysis.


"We urge China to take sincere measures to prevent dangerous actions which could cause a contingency situation," Suga said.


Japanese Defence Minister Itsunori Onodera said this week that the radar incident could have become very dangerous very quickly, and it could have been seen as a threat of military force under U.N. rules.


Hopes had been rising recently for an easing of the tension, which was sparked, in part, by Japan's nationalization of three of the privately owned islets last September.


Fears that encounters between aircraft and ships could bring an unintended clash have given impetus to efforts to improve links, including a possible summit between Abe and Chinese leader Xi Jinping, who takes over as head of state in March.


(Additional reporting by Linda Sieg in TOKYO, Joathan Thatcher in JAKARTA; Editing by Ron Popeski and Robert Birsel)



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Google’s Schmidt to sell roughly 42 percent of stake






SAN FRANCISCO (Reuters) – Google Inc Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the Internet search company, a move that could potentially net the former chief executive a $ 2.51 billion windfall.


Schmidt, 57, will sell 3.2 million shares of Class A common stock through a stock trading plan, Google said in a filing with the U.S. Securities and Exchange Commission on Friday.






The plan, which Google said would give Schmidt “individual asset diversification and liquidity,” allows Schmidt to spread trades out over a period of one year to reduce the market impact.


Shares of Google were down $ 4.11 at $ 781.26 in after-hours trading on Friday.


A Google spokeswoman would not comment on why Schmidt is selling the shares at this time.


Wedbush Securities analyst James Dix said Schmidt’s stock sales did not worry him or signal a loss of confidence in the company by Schmidt.


“I’d be more worried if the current CEO or CFO sold a lot of their stake,” said Dix.


Schmidt, who served as Google’s chief executive until 2011, currently owns roughly 7.6 million shares of Class A and Class B common stock. The shares represent 2.3 percent of Google’s outstanding stock and roughly 8.2 percent of the voting power of Google’s stock.


The fact that Schmidt will still own a significant amount of shares after the sales means he’ll have a good deal of “skin in the Google game,” said Needham & Co analyst Kerry Rice. But he said it could hint at Schmidt playing a less central role within the company going forward.


“My speculation is that Eric’s relationship with Google is evolving,” said Rice. “I would assume that as he decides he wants to diversify away from Google – both his career and financially – he’s got ideas of what he would like to do with some of his funds.”


Schmidt, who helped turn Google into the world’s No.1 search engine during his decade as CEO, handed the reins to Google co-founder Larry Page in April 2011.


As executive chairman, Schmidt has been particularly involved in government relations, taking a leading role in the company’s discussions with antitrust regulators in the United States and the European Union. The U.S. Federal Trade Commission ended its investigation into Google last month without any action. Google has offered to change some of its business practices to appease European competition regulators.


“As Google moves to maybe more tactical battles, as opposed to the strategic battles it’s been waging with the government, once those are concluded, maybe his role can be lessened,” said Needham & Co’s Rice.


Schmidt has also made headlines apart from Google. In January, Schmidt traveled to North Korea with former New Mexico Governor Bill Richardson for a “personal” trip. The trip was criticized by the U.S. State Department as ill-timed – coming weeks after North Korea conducted a rocket launch in violation of U.N. Security Council sanctions.


Shares of Google are trading at all-time highs, finishing Friday’s regular session at a record closing price of $ 785.37. At that price, Schmidt’s share sales would be worth $ 2.51 billion.


Google said that Schmidt entered into the stock trading plan in November.


Schmidt was ranked 138 on the Forbes list of global billionaires with a net worth of $ 6.9 billion in March 2012.


Given Schmidt’s changed role at the company and the amount of his wealth tied up in Google’s stock, it was not unreasonable for him to diversify his holdings, said Wedbush Securities analyst Dix.


“As good as Google stock is, it isn’t as good as cash if you actually want to buy something,” he said.


(Reporting by Alexei Oreskovic; Editing by Tim Dobbyn and Lisa Shumaker)


Tech News Headlines – Yahoo! News





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Kris Humphries: Why He Won't Divorce Kim Kardashian















02/07/2013 at 07:00 PM EST



Despite Kim Kardashian's pressing for a divorce, Kris Humphries deeply believes their 72-day marriage should be annulled and he won't give up the fight, a source tells PEOPLE.

"Kris only wants an annulment," says the source close to Humphries. "He never wanted to be married more than once and he feels like she cheated him out of the chance to have a real, loving marriage."

The Brooklyn Nets forward is also not sympathetic to Kardashian's pleas to end the battle for the sake of the baby she's having with boyfriend Kanye West, adds the source.

"He feels that even if she's pregnant, she still has to deal with the mess she made," the source says. "He thinks their entire marriage was a fraud, and he's not going to just give up because of the situation."

Kardashian, who says she's due to deliver in early July, is asking a judge to start a divorce trial as soon as possible or at the very least to have their marriage legally dissolved while they litigate other issues.

"There was no fraud on my part," she says in papers filed last month in L.A. Superior Court. "I wish this issue to be tried immediately so that this false claim can be put to rest and I can move on with my life."

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Southern diet, fried foods, may raise stroke risk


Deep-fried foods may be causing trouble in the Deep South. People whose diets are heavy on them and sugary drinks like sweet tea and soda were more likely to suffer a stroke, a new study finds.


It's the first big look at diet and strokes, and researchers say it might help explain why blacks in the Southeast — the nation's "stroke belt" — suffer more of them.


Blacks were five times more likely than whites to have the Southern dietary pattern linked with the highest stroke risk. And blacks and whites who live in the South were more likely to eat this way than people in other parts of the country were. Diet might explain as much as two-thirds of the excess stroke risk seen in blacks versus whites, researchers concluded.


"We're talking about fried foods, french fries, hamburgers, processed meats, hot dogs," bacon, ham, liver, gizzards and sugary drinks, said the study's leader, Suzanne Judd of the University of Alabama in Birmingham.


People who ate about six meals a week featuring these sorts of foods had a 41 percent higher stroke risk than people who ate that way about once a month, researchers found.


In contrast, people whose diets were high in fruits, vegetables, whole grains and fish had a 29 percent lower stroke risk.


"It's a very big difference," Judd said. "The message for people in the middle is there's a graded risk" — the likelihood of suffering a stroke rises in proportion to each Southern meal in a week.


Results were reported Thursday at an American Stroke Association conference in Honolulu.


The federally funded study was launched in 2002 to explore regional variations in stroke risks and reasons for them. More than 20,000 people 45 or older — half of them black — from all 48 mainland states filled out food surveys and were sorted into one of five diet styles:


Southern: Fried foods, processed meats (lunchmeat, jerky), red meat, eggs, sweet drinks and whole milk.


—Convenience: Mexican and Chinese food, pizza, pasta.


—Plant-based: Fruits, vegetables, juice, cereal, fish, poultry, yogurt, nuts and whole-grain bread.


—Sweets: Added fats, breads, chocolate, desserts, sweet breakfast foods.


—Alcohol: Beer, wine, liquor, green leafy vegetables, salad dressings, nuts and seeds, coffee.


"They're not mutually exclusive" — for example, hamburgers fall into both convenience and Southern diets, Judd said. Each person got a score for each diet, depending on how many meals leaned that way.


Over more than five years of follow-up, nearly 500 strokes occurred. Researchers saw clear patterns with the Southern and plant-based diets; the other three didn't seem to affect stroke risk.


There were 138 strokes among the 4,977 who ate the most Southern food, compared to 109 strokes among the 5,156 people eating the least of it.


There were 122 strokes among the 5,076 who ate the most plant-based meals, compared to 135 strokes among the 5,056 people who seldom ate that way.


The trends held up after researchers took into account other factors such as age, income, smoking, education, exercise and total calories consumed.


Fried foods tend to be eaten with lots of salt, which raises blood pressure — a known stroke risk factor, Judd said. And sweet drinks can contribute to diabetes, the disease that celebrity chef Paula Deen — the queen of Southern cuisine — revealed she had a year ago.


The National Institute of Neurological Disorders and Stroke, drugmaker Amgen Inc. and General Mills Inc. funded the study.


"This study does strongly suggest that food does have an influence and people should be trying to avoid these kinds of fatty foods and high sugar content," said an independent expert, Dr. Brian Silver, a Brown University neurologist and stroke center director at Rhode Island Hospital.


"I don't mean to sound like an ogre. I know when I'm in New Orleans I certainly enjoy the food there. But you don't have to make a regular habit of eating all this stuff."


___


Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP


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Wall Street ends lower on renewed euro zone fears

NEW YORK (Reuters) - Stocks declined on Thursday, taking a step back from their recent advance, prompted by comments by the ECB president on the euro and Europe's outlook.


The euro currency dropped against the safe-haven dollar and yen, spurring a retreat from risky assets such as stocks, after European Central Bank President Mario Draghi said the exchange rate was important to growth and price stability. Investors took that as a sign the bank is concerned about the euro's advance and its effect on the region's economy.


Growth sectors were among the weakest performers on the S&P 500: the S&P 500 materials index <.splrcma> was down 0.6 percent while the S&P energy index <.spny> was down 0.5 percent. Housing stocks also declined, with a housing sector index <.hgx> off 1.4 percent.


Despite the day's decline and weakness earlier this week, the stock market has been in an almost uninterrupted up trend for most of the year, with the S&P 500 up 5.8 percent so far for 2013.


Many analysts say some weakness at this point is no surprise.


"Given the amount the market moved in January, having a little bit of a pullback and some consolidation where the market goes sideways for a little while, we think would be a healthy sign," said Eric Marshall, director of research at Hodges Capital Management in Dallas.


Top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.


The Dow Jones industrial average <.dji> was down 42.47 points, or 0.30 percent, at 13,944.05. The Standard & Poor's 500 Index <.spx> was down 2.73 points, or 0.18 percent, at 1,509.39. The Nasdaq Composite Index <.ixic> was down 3.34 points, or 0.11 percent, at 3,165.13.


Shares of Apple helped to limit losses on the Nasdaq, the stock ending up 3 percent at $468.22. Fund manager David Einhorn's Greenlight Capital said it has sued Apple Inc and said the company needs to do more to unlock value for shareholders.


Though the earnings season is winding down, results continue to boost growth estimates for the fourth quarter. According to Thomson Reuters data through Thursday morning, of 317 companies in the S&P 500 that have reported earnings, 69 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies rose 5 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


Akamai Technologies Inc lost 15.2 percent to $35.26 as the worst percentage performer on the S&P 500 after the Internet content delivery company forecast current-quarter revenue below analysts' expectations.


Among retailers, Macy's Inc rose 2 percent to $40.27 after reporting January same store sales rose 11.7 percent.


But Ann Inc dropped 8 percent to $30.20 after forecasting fourth-quarter sales below analysts' expectations.


Economic data was mixed. Initial jobless claims dipped last week, with the four-week moving average falling to its lowest level since March 2008, signaling the economy continues to recover slowly.


A separate report said fourth-quarter productivity registered its biggest drop in nearly two years, while unit labor costs jumped 4.5 percent, more than economists expected.


Roughly 6.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Decliners outpaced advancers on the NYSE by nearly 4 to 3 and on the Nasdaq by about 5 to 3.


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



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Iran's Khamenei rebuffs U.S. offer of direct talks


DUBAI (Reuters) - Iran's highest authority, Ayatollah Ali Khamenei, on Thursday slapped down an offer of direct talks made by U.S. Vice President Joe Biden last week, saying they would not solve the problem between them.


"Some naive people like the idea of negotiating with America, however, negotiations will not solve the problem," Khamenei said in a speech to officials and members of Iran's air force carried on his official website.


"If some people want American rule to be established again in Iran, the nation will rise up to face them," he said.


"American policy in the Middle East has been destroyed and Americans now need to play a new card. That card is dragging Iran into negotiations."


Khamenei made his comments just days after Biden said the United States was prepared to meet bilaterally with the Iranian leadership. "That offer stands but it must be real and tangible," Biden said in Munich on Saturday.


With traditional fiery rhetoric, Khamenei lambasted Biden's offer, saying that since the 1979 revolution the United States had gravely insulted Iran and continued to do so with its threat of military action.


"You take up arms against the nation of Iran and say: 'negotiate or we fire'. But you should know that pressure and negotiations are not compatible and our nation will not be intimidated by these actions," he added.


Relations between Iran and the United States were severed after the overthrow of Iran's pro-Western monarchy in 1979 and diplomatic meetings between officials have since been very rare.


ALL OPTIONS STILL 'ON THE TABLE'


Currently U.S.-Iran contact is limited to talks between Tehran and a so-called P5+1 group of powers on Iran's disputed nuclear program which are to resume on February 26 in Kazakhstan.


In Washington, U.S. State Department spokeswoman Victoria Nuland brushed off Khamenei's remarks and urged Iran to show up in Almaty "prepared to discuss real substance" either in a group setting or in bilateral talks.


"As the Iranians well know, the ball is in the Iranians' own court," she told reporters.


"We've always said that action on the Iranian side would be matched by action on our side, so it's really up to Iran to engage if it wants to see sanctions eased," said Nuland, adding that failure to address the nuclear concerns would bring more pressure on Tehran.


Israel's Deputy Prime Minister Dan Meridor said he was skeptical the negotiations in Almaty could yield a result, telling Israel Radio that the United States needed to demonstrate to Iran that "all options were still on the table".


Israel, widely recognized to be the only nuclear power in the Middle East, has warned it could mount a pre-emptive strike on Iranian atomic sites. Israel says the prospect of a nuclear-armed Iran threatens its existence, given Tehran's refusal to recognize the Jewish state.


"The final option, this is the phrasing we have used, should remain in place and be serious," said Meridor.


"The fact that the Iranians have not yet come down from the path they are on means that talks ... are liable to bring about only a stalling for time," he said.


Iran maintains its nuclear program is entirely peaceful but Western powers are concerned it is intent on developing a weapons program.


Many believe a deal on settling the nuclear issue is impossible without a U.S.-Iranian thaw. But any rapprochement would require direct talks addressing many sources of mutual mistrust that have lingered since Iran's 1979 Islamic Revolution and the subsequent U.S. embassy hostage crisis in Tehran.


Moreover, although his November re-election may give President Barack Obama a freer hand to pursue direct negotiations, analysts say Iran's own presidential election in June may prove an additional obstacle to progress being made.


(Additional reporting by Dan Williams, and Paul Eckert in Washington; Editing by William Maclean, Jon Boyle and Mohammad Zargham)



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