Facebook jumps on biggest lock-up expiration day

NEW YORK (AP) — Facebook‘s stock is up more than 7 percent despite expectations that it would fall because more than 850 million additional shares in the company are being freed up for sale.

Shares of Facebook Inc. are up $ 1.48, or 7.5 percent, at $ 21.34. Facebook went public in May at $ 38 in a much-hyped initial public offering of stock that turned out to be a letdown for investors. Its stock price hasn’t hit $ 38 since.

Wednesday marked the expiration of Facebook’s biggest lock-up period, which is a time following an IPO that prevents insiders from selling stock. In all, 773 million shares became eligible for sale, along with 31 million restricted stock units. And about 48 million shares held by former Facebook employees also became eligible for sale, bringing the total to 852 million. These shares would be on top of what’s already been available for trading, increasing the supply and potentially lowering the overall price.

Lock-ups are common after initial public stock offerings and are designed to prevent a stock from experiencing the kind of volatility that might occur if too many shareholders decide to sell all at once.

The previous lock-up expired on Oct. 29, when U.S. stock markets were closed because of Superstorm Sandy. Facebook’s stock fell nearly 4 percent two days later, when the stock market reopened.

Cantor Fitzgerald analyst Youssef Squali believes a potential increase in the capital gains tax on Jan. 1, when Bush-era tax cuts would expire unless Congress acts, could pressure Facebook’s stock. That said, he called the Menlo Park, Calif.-based social media company a “long-term winner.”

Facebook’s stock saw its biggest one-day gain on Oct. 24, the day after the company reported stronger-than-expected third-quarter results and detailed for the first time how much money it made from mobile ads. The stock, which added 19 percent that day, closed at $ 23.23. Even with Wednesday’s gain, it is still 8 percent below that price.

Social Media News Headlines – Yahoo! News

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Bradley Cooper & Jennifer Lawrence Dance in Silver Linings Playbook (Video)

With impressive performances from Bradley Cooper and Jennifer Lawrence, Silver Linings Playbook may already be an Oscar contender before it even hits theaters.

For Pat (played by Cooper), a former teacher who has just been released from a mental hospital, things get interesting when he gets involved with Tiffany (played by Lawrence), a neighborhood girl with problems of her own.

But with Danny (Chris Tucker) leading the way, Tiffany and Pat unwind as they learn to dance to Stevie Wonder's "Don't You Worry 'Bout a Thing."

The film has been earning praise since it premiered at the Toronto International Film Festival in September.

"They're amazing together, with Lawrence showing incredible range and comic timing in her award-worthy performance," PEOPLE's movie critic Alynda Wheat wrote at the time.

Silver Linings Playbook opens in theaters Wednesday, Nov. 21.

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British medical journal slams Roche on Tamiflu

LONDON (AP) — A leading British medical journal is asking the drug maker Roche to release all its data on Tamiflu, claiming there is no evidence the drug can actually stop the flu.

The drug has been stockpiled by dozens of governments worldwide in case of a global flu outbreak and was widely used during the 2009 swine flu pandemic.

On Monday, one of the researchers linked to the BMJ journal called for European governments to sue Roche.

"I suggest we boycott Roche's products until they publish missing Tamiflu data," wrote Peter Gotzsche, leader of the Nordic Cochrane Centre in Copenhagen. He said governments should take legal action against Roche to get the money back that was "needlessly" spent on stockpiling Tamiflu.

Last year, Tamiflu was included in a list of "essential medicines" by the World Health Organization, a list that often prompts governments or donor agencies to buy the drug.

Tamiflu is used to treat both seasonal flu and new flu viruses like bird flu or swine flu. WHO spokesman Gregory Hartl said the agency had enough proof to warrant its use for unusual influenza viruses, like bird flu.

"We do have substantive evidence it can stop or hinder progression to severe disease like pneumonia," he said.

In the U.S., the Centers for Disease Control and Prevention recommends Tamiflu as one of two medications for treating regular flu. The other is GlaxoSmithKline's Relenza. The CDC says such antivirals can shorten the duration of symptoms and reduce the risk of complications and hospitalization.

In 2009, the BMJ and researchers at the Nordic Cochrane Centre asked Roche to make all its Tamiflu data available. At the time, Cochrane Centre scientists were commissioned by Britain to evaluate flu drugs. They found no proof that Tamiflu reduced the number of complications in people with influenza.

"Despite a public promise to release (internal company reports) for each (Tamiflu) trial...Roche has stonewalled," BMJ editor Fiona Godlee wrote in an editorial last month.

In a statement, Roche said it had complied with all legal requirements on publishing data and provided Gotzsche and his colleagues with 3,200 pages of information to answer their questions.

"Roche has made full clinical study data ... available to national health authorities according to their various requirements, so they can conduct their own analyses," the company said.

Roche says it doesn't usually release patient-level data available due to legal or confidentiality constraints. It said it did not provide the requested data to the scientists because they refused to sign a confidentiality agreement.

Roche is also being investigated by the European Medicines Agency for not properly reporting side effects, including possible deaths, for 19 drugs including Tamiflu that were used in about 80,000 patients in the U.S.

____

Online:

www.bmj.com.tamiflu/

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Retailers curb Wall Street's loss as "fiscal cliff" weighs

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France recognizes new Syria opposition

CAIRO/PARIS (Reuters) - France became the first European power to recognize Syria's new opposition coalition as the sole representative of its people and said on Tuesday it would look into arming rebels against President Bashar al-Assad once they form a government.

Twenty months into their bloody uprising against Assad, fragmented Syrian opposition groups struck a deal in Qatar on Sunday to form a broad coalition and their leader immediately appealed for European backing.

"I announce today that France recognizes the Syrian National Council as the sole legitimate representative of the Syrian people and as future government of a democratic Syria making it possible to bring an end to Bashar al-Assad's regime," French President Francois Hollande said, breaking ranks with European allies. Six Gulf Arab states took a similar step on Monday.

The question of arming the rebels would be looked at as soon as the rebel coalition formed a transitional government, Hollande told a news conference in Paris.

Arab League and EU foreign ministers meeting in Cairo on Tuesday welcomed the formation of the coalition as an important step forward, although their communiqué showed they had not reached a unanimous decision to recognize it as Syria's sole authority.

The French announcement came just hours after Syria's newly installed opposition leader urged European states to back the opposition so it could buy weapons.

Paris, one of Assad's harshest critics, had previously ruled out arming rebel forces, concerned that weapons could get into the hands of radical Islamists.

Speaking to Reuters as Arab and European ministers met to discuss Syria at the Arab League in Cairo, Mouaz Alkhatib, the Damascus preacher elected unopposed on Sunday to lead the new group, had asked for diplomatic backing.

"I request European states to grant political recognition to the coalition as the legitimate representative of the Syrian people and to give it financial support," he said.

"When we get political recognition, this will allow the coalition to act as a government and hence acquire weapons and this will solve our problems," added Alkhatib, who has been described by supporters as a moderate noted for his embrace of Syria's religious and ethnic minorities.

So far, concerted action on Syria has been thwarted by divisions within the opposition, as well as by big power rivalries and a regional divide between Sunni Muslim foes of Assad and his Shi'ite allies in Iran and Lebanon.

Russia and China, which have lent Assad diplomatic support since the uprising erupted in March last year, have shown no sign of warming towards his Western- and Arab-backed opponents.

"STEP FORWARD"

Cajoled by Qatar and the United States, the ineffectual Syrian National Council, previously the main opposition body based abroad, agreed to join a wider coalition on Sunday.

Britain's foreign minister, William Hague, said the coalition must show it had support within Syria before London would acknowledge it as the rightful government.

"If they have this, yes, we will then recognize them as the legitimate representative of the Syrian people," he told reporters at the Arab-European meeting in Cairo.

The opposition had hoped its new-found unity would clear the way for outside powers to arm the rebels, but Western nations fear such weapons could reach the hands of Islamist militants.

Western concern has also been heightened by documented reports of atrocities by ill-disciplined insurgents.

"Syria's newly created opposition front should send a clear message to opposition fighters that they must adhere to the laws of war and human rights law, and that violators will be held accountable," New York-based Human Rights Watch said.

BORDER VIOLENCE

Assad, whose family has ruled Syria for 42 years, has vowed to fight to the death in a conflict that has already killed an estimated 38,000 people and risks sucking in other countries.

His warplanes again struck homes in Ras al-Ain, a town on the northern border seized by rebels last week. Civilians fled over the border dividing it from the Turkish town of Ceylanpinar and thick plumes of smoke billowed upwards.

Syrian jets and artillery hit the town of Albu Kamal on the frontier with Iraq, where rebels have seized some areas, according to the mayor of the Iraqi border town of Qaim.

Tension also remained high on the Golan Heights, where Israeli gunners have retaliated against stray Syrian mortar fire landing on the occupied plateau in the previous two days.

Twenty months of conflict have created a vast humanitarian crisis, with more than 408,000 Syrians fleeing to neighboring countries and up to four million expected to need aid by early next year, according to the United Nations.

Fighting has also displaced 2.5 million civilians inside Syria, the Syrian Arab Red Crescent estimates.

"If anything, they believe it could be more; this is a very conservative estimate," Melissa Fleming, chief spokeswoman of the U.N. High Commissioner for Refugees, said in Geneva.

"So people are moving, really on the run, hiding," she told a news briefing. "They are difficult to count and access."

In Cairo, Arab League chief Nabil Elaraby urged opposition factions to join Alkhatib's group, formally known as the Syrian National Coalition for Opposition and Revolutionary Forces.

But although six Gulf Arab nations recognized the coalition as Syria's only legitimate representative on Monday, Iraq, Algeria and Lebanon prevented the League from following suit.

Iraq and Lebanon, with influential Shi'ite populations, have generally maintained better relations with Iran and with Assad, whose minority Alawite sect is an offshoot of Shi'ite Islam.

(Additional reporting by Shaimaa Fayed in Cairo and Jonathon Burch in Ceylanpinar, Turkey; Writing by Giles Elgood; Editing by Peter Graff)

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Verizon and HTC’s latest twist: The $199 Droid DNA

Verizon and HTC unveiled a new device that the two hope will appeal to customers during the holiday season, while helping to reverse HTC’s floundering fortunes.

The phone, the Droid DNA, sports a 5-inch screen, putting it more in the “phablet” category with Samsung‘s Galaxy Note. It runs on Android 4.1.1 Jelly Bean and includes a boatload of powerful features, including a Super LCD 3 display with 440 pixels per inch, capable of playing 1080p HD video.

HTC noted the screen rivals traditional HDTVs, while the pixel density is among the highest available on any smartphone. The iPhone 5′s Retina display, for example, is 326 pixels per inch.

The device runs on a quad-core, 1.5Ghz Snapdragon processor from Qualcomm, with 4G LTE integrated on the same piece of silicon as the application processor. Having one chip instead of two improves battery life.

The phone is also capable of wireless charging and full HD video chat. The device has an 8-megapixel rear-facing camera and a 2.1-megapixel camera in the front. HTC noted its phone features HTC ImageSense and HTC ImageChip to create faster image processing and better quality photos, as well as a quick-launch camera option.

The Droid DNA also has Beats audio and two amplifiers, one for headphone and one for speaker. And it’s equipped with near-field communications technology to share music and other content by tapping other NFC-enabled devices.

Droid DNA goes on sale on November 21 for $ 199.99 with a two-year contract. Pre-sales begin today. The phone is available exclusively through Verizon.

The hefty specs should appeal to customers looking for alternatives to the latest gadgets from Samsung and Apple during the holiday season. For HTC, it’s pretty important that they do.

The Taiwanese handset maker really needs a hit phone. Previously the darling of the smartphone world, HTC has been having a tough time lately. Samsung and Apple are dominating the industry’s profits and market share, leaving little for HTC, Motorola, Nokia, and other handset vendors. HTC also has faced litigation, though it reached a settlement with Apple a few days ago.

The company has said it plans to go bolder with its messaging to consumers and the media, relying less on joint marketing campaigns with the carriers and standing more independently to tell the HTC story. It also has said it would try to generate buzz through social media and by seeing out influential celebrities and “superfans” for endorsements. So far, it’s unclear whether such steps are paying off.

Related stories:

Wireless News Headlines – Yahoo! News

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S&P 500 and Nasdaq inch higher, fiscal cliff a concern

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Syria's new opposition coalition seeks recognition

DOHA (Reuters) - Syria's new opposition leadership, painfully forged under Arab and Western pressure, set out on Monday to gather recognition and wider backing for the struggle to take over the country from President Bashar al-Assad.

Violence flared again on the Turkish border and the line separating Syria from the Israeli-occupied Golan Heights, underscoring how the conflict is spilling into the region.

Reformist Damascus cleric Mouaz Alkhatib flew to Cairo to seek the Arab League's blessing for the new assembly that unanimously elected him as its leader the day before.

Alkhatib, 50, jailed several times for criticizing Assad, fled into exile this year. He has long promoted a liberal Islam tolerant of Syria's Christian, Alawite and other minorities.

"The first step towards recognition will take place at the Arab League," he told a news conference in Doha. The body would then seek endorsement from Assad's Arab and Western foes in the "Friends of Syria" group and from the U.N. General Assembly.

Russia, which with China has foiled U.N. action on Syria and views Assad's opponents as pawns of the West, urged the new body to negotiate and to reject outside meddling.

Asked if China recognized the new coalition, Foreign Ministry spokesman Hong Lei called on all parties to initiate "a political transition process guided by the Syrian people".

Egypt, Saudi Arabia and most Arab League members want Assad removed, although some, such as Iraq, Lebanon and Algeria, take a more neutral stance on Syria, where violence raged on.

BORDER BOMBING

Israeli tanks fired shells into Syria and scored "direct hits" in response to a Syrian mortar round that struck the Golan Heights, the Israeli military said.

It was the second time in two days that Israel has responded to what it said was errant Syrian fire. On Sunday the military said it had a fired a "warning shot" across the disengagement line, while on Monday it said it had fired back at "the source".

Syria and Israel have not fought over the Golan since the 1973 Middle East conflict, but are still formally at war.

At the northern end of the country, Syrian jets and helicopters attacked the rebel-held town of Ras al-Ain, with some bombs landing just meters (yards) from the Turkish border, sending scores of civilians fleeing into Turkey.

A Reuters reporter on the border said one warplane flew right along the border and appeared to stray across it at one point, as bombs sent up plumes of black smoke.

The Syrian Observatory for Human Rights said 12 people, including seven Islamist militants, had been killed in the air strikes on Ras al-Ain, which fell to rebels on Thursday during an advance into Syria's mixed Arab and Kurdish northeast.

Another opposition group put the Ras al-Ain death toll at 16. The pro-opposition Observatory, which tracks the violence from Britain, said 140 people were killed in Syria on Sunday. More than 38,000 people have been killed since March last year.

Turkey, whose border security worries were heightened by a sudden influx of 9,000 refugees within 24 hours last week, has consulted its NATO allies about possibly deploying Patriot surface-to-air missiles to deter Syria's air force.

Such a move could be a prelude to enforcing a no-fly zone in Syria, although Western powers have fought shy of this.

Riad Seif, a respected Syrian dissident who proposed the new opposition body, said no such military intervention was needed.

"We will protect ourselves by owning developed weapons and networks of defence missiles," he said, citing what he said was a promise by the Friends of Syria to provide "methods" to counter shelling and air strikes by Assad's forces.

NATO chief Anders Fogh Rasmussen said in Prague that the alliance would "do what it takes to defend Turkey", without referring specifically to Patriot missiles.

After days of wrangling in Qatar, Syrian politicians, rebels and representatives of ethnic and religious minorities finally laid aside their disputes and, under U.S. and Qatari pressure, agreed to form the Syrian National Coalition for Opposition and Revolutionary Forces, as a prelude to a government-in-exile.

INCLUSIVE APPROACH

Alkhatib, the former imam of the Umayyad Mosque in Damascus, called on Syrian soldiers to desert and all sects to unite.

"We demand freedom for every Sunni, Alawi, Ismaili, Christian, Druze, Assyrian ... and rights for all parts of the harmonious Syrian people," the soft-spoken preacher said.

It is unclear whether the Coalition can succeed where the exile Syrian National Council (SNC) failed in overcoming the mutual suspicions and in-fighting that have weakened the nearly 20-month-old drive to end four decades of Assad family rule.

"This is a significant step forward, because they finally seem to be forging a more broadly-based platform that includes the SNC but without the SNC taking the lion's share," said Salman Shaikh, director of the Doha Brookings Center.

He said military councils fighting inside Syria should be plugged into the new political structure as a way of encouraging coordinated international support for the uprising.

"We need a unified channel of support," he said. "The United States still seems hesitant about training and arming the opposition, and I believe this is a mistake, because the U.S. has the capacity to do it more so than anyone else."

Qatar said recognition for a temporary Syrian government would allow it to seek weapons from abroad.

Washington, which promoted the Doha unity talks, hailed the outcome, promising to support the Syrian National Coalition "as it charts a course toward the end of Assad's bloody rule and the start of the peaceful, just, democratic future...".

Assad, whose Alawite minority is rooted in Shi'ite Islam, has support from Shi'ite Iran and its Lebanese Shi'ite allies, but has few friends among the region's Sunni-led nations.

With Syria enduring a bloody military stalemate almost 20 months after peaceful protests first erupted, Assad's opponents hope a more cohesive opposition can turn the tide, winning more military and diplomatic support from allies wary of the growing role of Islamist militants, some of them linked to al Qaeda.

"For the first time, there are credible multinational pledges to support the Syrian revolution, politically and logistically," said London-based Syria analyst Rima Allaf.

"With the promise of real weapons, the different groups of the Free Syrian Army are more likely to regroup under a unified opposition and command, as it is to their benefit."

She said success for the new opposition body could make the position of Russia and China irrelevant. "Their direct support of Assad may continue, perhaps until the stakes change and they see no more benefit to holding on to a losing side."

(Additional reporting by Andrew Hammond in Doha, Khaled Yacoub Oweis in Amman, Jonathon Burch in Ceylanpinar, Crispian Balmer in Jerusalem, Arshad Mohammed in Washington, Michael Martina in Beijing and Steve Gutterman in Moscow; Writing by Alistair Lyon; Editing by Giles Elgood)

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RIM to unveil new BlackBerry phones on Jan. 30.

TORONTO (AP) — Research In Motion said Monday that it will hold an official launch event for its new BlackBerry 10 smartphones on Jan. 30. The new phones are seen as critical to RIM’s survival.

The Waterloo, Ontario-based company said Monday details on the much-delayed smartphones and their availability will be announced at the event.

The announcement comes as the company struggles in North America to hold onto customers who are abandoning BlackBerrys for flashier iPhones and Android phones.

RIM’s current software is still focused on email and messaging, and is less user-friendly, agile and robust than iPhone or Android. Its attempt at touch screens was a flop, and it lacks the apps that power other smartphones. RIM is hanging its hopes on the BlackBerry 10 software. It is thoroughly redesigned for the touchscreen, Internet browsing and apps experience that customers now expect. The Canadian company said the launch event will happen simultaneously in multiple countries.

Jefferies analyst Peter Misek called it a make-or-break product release and said the date of the launch event suggests a release date in mid- to late February or in March.

A full touchscreen device is expected to be released first followed shortly after by a physical keyboard version.

BGC Financial Partners analyst Colin Gillis said the new phones won’t be dead on arrival as some analysts have said because RIM hasn’t lost the corporate market completely.

“Is 10 going to be the solution to retain that marketplace? We’ll have to wait and see,” Gillis said. “It’s great they set a date, but the challenges are still formidable. It’s not an issue of initial demand. It’s an issue of sustained demand.”

Gillis noted that RIM’s launch of a tablet initially went OK but then demand fell sharply. RIM’s tablet, the Playbook, uses software on which the BlackBerry 10 will be based.

RIM said last month the new BlackBerrys are being tested by 50 wireless carriers around the world.

Thorsten Heins, who took over as CEO in January after the company lost tens of billions in market value, had vowed to do everything he could to release BlackBerry 10 this year but said in June that the timetable wasn’t realistic. Heins says he can turn things around with BlackBerry 10.

The new BlackBerrys will be released after the holiday shopping season and well after Apple’s launch of the iPhone 5, expected to be Apple’s biggest product introduction yet.

RIM’s platform transition is also happening under a new management team and as RIM lays off 5,000 employees as part of a bid to save $ 1 billion.

RIM was once Canada‘s most valuable company with a market value of more than $ 80 billion in 2008, but the stock has plummeted since, from over $ 140 per share to around $ 8. Its decline evokes memories of Nortel, another former Canadian tech giant, which declared bankruptcy in 2009.

Shares of RIM rose 20 cents, or 2.3 percent, to $ 8.74 in midday trading in New York after rising as high as $ 9.07 earlier.

Gadgets News Headlines – Yahoo! News

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