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Tuesday, October 16, 2012

Instant View: Intel fourth-quarter signals PC woes, IBM falls short on revenue

Instant View: Intel fourth-quarter signals PC woes, IBM falls short on revenue

Instant View: Intel fourth-quarter signals PC woes, IBM falls short on revenue

Posted: 16 Oct 2012 01:43 PM PDT

(Reuters) - Intel Corp forecast fourth-quarter revenue and margins below Wall Street's expectations, as the personal computer industry weathers a shaky global economy and a persistent shift by consumers toward tablets. International Business Machines reported revenues below analysts' targets with technology spending held back by a waning global economy, helping send its shares lower. Commentary Intel: STACY RASGON, ANALYST, SANFORD C. BERNSTEIN & CO "I'm always amazed that they can preannounce and still beat it. ...

IBM's 3Q earnings flat, revenue slides 5 percent

Posted: 16 Oct 2012 01:39 PM PDT

IBM says its third-quarter earnings remained unchanged from a year ago despite an unexpected charge and a steeper drop in revenue than analysts anticipated.

Baggage handler at NYC airport gets life in prison

Posted: 16 Oct 2012 01:39 PM PDT

The testimony at a federal drug trafficking trial was chilling: Jurors heard how bribed baggage handlers at John F. Kennedy International Airport concealed cocaine on commercial jets inside sensitive wing assembly compartments.

Gay man sues Ky. jail, says inmate bit his nose

Posted: 16 Oct 2012 01:37 PM PDT

An incarcerated gay man is suing a southern Kentucky jail and a fellow inmate, claiming the prisoner bit off part of his nose after days of harassment.

Citi's CEO Pandit exits abruptly after board clash

Posted: 16 Oct 2012 01:35 PM PDT

File photograph of Citigroup's CEO Vikram Pandit giving an interview on the floor of the New York Stock Exchange(Reuters) - Citigroup Inc's Vikram Pandit quit as chief executive on Tuesday after months of simmering tensions with the board - an abrupt change that surprised investors and employees of the third-largest U.S. bank. The bank's board of directors named Michael Corbat as Citigroup's new CEO. Pandit told Reuters the decision to leave was his own and that he had been contemplating the move for some time. ...

Yemeni intelligence officer killed in shooting

Posted: 16 Oct 2012 01:34 PM PDT

A senior Yemeni intelligence officer was shot dead in the capital, Sanaa, when a speeding gunman on a motorcycle opened fire Tuesday, the latest episode in an assassination campaign aimed at security officials as government forces wage a crackdown on al-Qaida suspects.

UK charges Briton with taking hostages in Syria

Posted: 16 Oct 2012 01:34 PM PDT

A British man has been charged in the kidnapping of two Western journalists in Syria, police said Tuesday, adding to growing concerns about foreign extremists traveling to the civil war-stricken Arab state and posing a future threat to the West.

Vikram Pandit steps down as Citigroup CEO

Posted: 16 Oct 2012 01:32 PM PDT

FILE - In this June 15, 2009, file photo, Citigroup CEO Vikram S. Pandit speaks at the National Summit in Detroit. Pandit abruptly severed his ties with Citigroup on Tuesday, Oct. 16, 2012, stepping down as CEO and a director, after steering the bank through the 2008 financial crisis and the choppy years that followed. (AP Photo/Carlos Osorio)Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director.

Earnings propel Dow to its biggest jump in a month

Posted: 16 Oct 2012 01:32 PM PDT

FILE - In this Monday, Oct. 15, 2012 file photo, specialists Edward Zelles, left, and Patrick Murphy work on the floor of the New York Stock Exchange. U.S. stock futures rose Tuesday for a second day as the earnings season kicked into high gear, with major players in the health care, banking and consumer industries reporting quarterly results. (AP Photo/Richard Drew, File)Inflation is low, earnings are high, investors are happy.

Release of names in prostitution case stirs debate

Posted: 16 Oct 2012 01:29 PM PDT

Retired sheriff's deputy Paul Main poses in his shop at his home Tuesday, Oct. 16, 2012 in Alfred, Maine. Main's phone has been ringing off the hook since a person with his same name, accused of visiting a prostitute in Kennebunk, was released on Monday. (AP Photo/Jim Cole)Paul Main's quiet evening was shattered by a phone ringing off the hook and a half-dozen TV crews showing up on his porch. Everyone wanted to know: Was he the same Paul Main who's been accused of visiting a prostitute in Kennebunk?

Factbox: Obama, Romney positions on energy future

Posted: 16 Oct 2012 01:28 PM PDT

WASHINGTON (Reuters) - President Barack Obama and Republican challenger Mitt Romney have vastly different strategies on how to regulate the newfound U.S. oil and natural gas bounty and the development of alternative energy sources. Ahead of Tuesday night's debate, advanced car battery maker A123 Systems filed for bankruptcy protection. The company was awarded a $249 million grant through Obama's 2009 stimulus program. Romney's campaign quickly seized on the bankruptcy, saying it was another failure of Obama's "disastrous" energy policy. ...

Pressure rises on Obama in debate rematch

Posted: 16 Oct 2012 01:28 PM PDT

U.S. President Obama calls local campaign volunteers to thank them from his campaign office in WilliamsburgHEMPSTEAD, New York (Reuters) - President Barack Obama's camp promised that the American public would see a more energized and visionary incumbent on Tuesday night as Obama tries to keep Republican challenger Mitt Romney at bay. Romney's campaign got a much-needed shot in the arm two weeks ago when the Republican came out swinging in the first matchup between the two candidates, while Obama appeared passive and tongue-tied at times. ...

Intel's outlook falls short of expectations

Posted: 16 Oct 2012 01:44 PM PDT

An Intel logo is seen at the company's offices in Petah Tikva, near Tel AvivSAN FRANCISCO (Reuters) - Intel forecast gross margins for the current quarter below expectations in a PC industry fighting a weak global economy and a shift by consumers toward tablets and smartphones. Intel's third-quarter report on Tuesday followed a warning by the top chipmaker in September that demand was weaker than expected and that revenue would fall far short of its forecast. With economic growth slowing in China and struggling in Europe and the United States, global PC shipments are expected by analysts to decline slightly this year, the first annual drop since 2001. ...

Intel 3Q profit down 14 pct, sees slow 4Q

Posted: 16 Oct 2012 01:25 PM PDT

Intel, the world's largest chipmaker, says its net income fell 14 percent from last year, and it's looking at tough conditions in the new quarter.

IBM third-quarter earnings rise, revenue hurt by strong dollar

Posted: 16 Oct 2012 01:25 PM PDT

File of a man visiting a stand of US firm IBM at CeBIT computer fair in Hanover(Reuters) - IBM reported third-quarter revenue of $24.7 billion and net earnings of $3.9 billion as demand for its software services and tight cost management offset the effect of a stronger dollar on the technology and consulting company. International Business Machines Corp, which has shifted its focus to higher-margin software and services from tech products, said on Tuesday that earnings per share, excluding items, were $3.62, just beating average analysts' estimate of $3.61. Revenue eased 5 percent due to a negative currency impact of almost $1 billion. ...

Bin Laden driver's conviction reversed by U.S. court

Posted: 16 Oct 2012 01:24 PM PDT

File courtroom drawing of Salim Hamdan in Guantanamo Bay(Reuters) - A U.S. appeals court on Tuesday overturned the conviction of Osama bin Laden's former driver and bodyguard, Salim Hamdan, on charges of supporting terrorism, in a long-running case emerging from the American military trials at Guantanamo Bay, Cuba. The U.S. Court of Appeals for the District of Columbia Circuit concluded that providing support for terrorism was not a war crime at the time of Hamdan's alleged conduct from 1996 to 2001 and therefore could not support a conviction. Human rights activists hailed the ruling as a blow to the legitimacy of the U.S. ...

Social Security benefits get a 1.7 percent bump

Posted: 16 Oct 2012 01:22 PM PDT

FILE - This Feb. 2005 file photo shows trays of printed social security checks, in Philadelphia, waiting to be mailed from the U.S. Treasury. More than 56 million Social Security recipients will see their monthly payments go up by 1.7 percent next year. The increase, which starts in January, is tied to a measure of inflation released Tuesday. It shows that inflation has been relatively low over the past year _ despite the recent surge in gas prices _ resulting in one of the smallest increases in Social Security payments since automatic adjustments were adopted in 1975. (AP Photo/Bradley C. Bower, File)More than 56 million Americans on Social Security will get raises averaging $19 a month come January, one of the smallest hikes since automatic adjustments for inflation were adopted in 1975, the government announced Tuesday.

High court won't block early voting in Ohio

Posted: 16 Oct 2012 01:18 PM PDT

FILE - In this Oct. 2, 2012 file photo, voters stand in line outside the Hamilton County Board of Elections just before it opened for early voting, in Cincinnati. The Supreme Court is siding with Democrats in refusing to block early voting in the battleground state of Ohio. The court on Tuesday refused a Republican request to get involved in a dispute over early voting in the state on the three days before Election Day. (AP Photo/Al Behrman, File)The Supreme Court on Tuesday cleared the way for voters in the battleground state of Ohio to cast ballots on the three days before Election Day, giving Democrats and President Barack Obama's campaign a victory three weeks before the election.

Warlick embraces challenge of replacing Summitt

Posted: 16 Oct 2012 01:17 PM PDT

Tennessee's Holly Warlick insists she doesn't feel much pressure replacing one of the greatest figures in the history of women's basketball.

Justice seeks dismissal of Fast & Furious suit

Posted: 16 Oct 2012 01:15 PM PDT

The Justice Department says federal courts should stay out of a political dispute between the Obama administration and Congress over documents in a botched law enforcement probe of gun trafficking.

Key moments in Cuban emigration

Posted: 16 Oct 2012 01:12 PM PDT

More than 1 million people of Cuban descent live in the United States and thousands more make their homes in Europe or Latin America. The elimination of exit visas announced Tuesday could swell those numbers. Some key moments in Cuban emigration:

EU sanctions target Iran oil, gas, tanker companies

Posted: 16 Oct 2012 01:11 PM PDT

The European flag flies amongst EU member countries' national flags in front of the European Parliament in StrasbourgBRUSSELS (Reuters) - European Union governments imposed sanctions on Tuesday against major Iranian state companies in the oil and gas industry, and strengthened restrictions on the central bank, cranking up financial pressure over Tehran's nuclear program. More than 30 firms and institutions were listed in the EU's Official Journal as targets for asset freezes in the EU, including the National Iranian Oil Company (NIOC), a large crude exporter, and the National Iranian Tanker Company (NITC). Both are vital to the Iranian oil industry, the main source of revenue for the government. ...

NY students satirize Rihanna assault in blackface

Posted: 16 Oct 2012 01:10 PM PDT

A pep rally skit by three white high school students who wore blackface and parodied Chris Brown's arrest for assaulting Rihanna has officials in the largely white New York district vowing to set clearer expectations for school events.

Pac-12 filled with surprises at season midpoint

Posted: 16 Oct 2012 01:04 PM PDT

Second-ranked Oregon is rolling, which is nothing new.

Miller's Heisman chase could be Ohio State's bowl

Posted: 16 Oct 2012 01:03 PM PDT

Ohio State quarterback Braxton Miller runs for a first down during the first half of an NCAA college football game against Indiana in Bloomington, Ind., Saturday, Oct. 13, 2012. (AP Photo/Sam Riche)For Braxton Miller and No. 7 Ohio State, the Heisman could be their championship trophy.

Hurricane Paul races toward Baja peninsula

Posted: 16 Oct 2012 01:02 PM PDT

This NOAA satellite image taken Tuesday, October 16, 2012 at 10:45 AM EDT shows Hurricane Rafael with maximum sustained winds of 85 mph. A low pressure system over the Northeast with cloudy conditions and showers. Farther west, rain showers and cloudy conditions are over Texas. Farther north, showers and cloudy conditions are moving into the Great Lakes. (AP PHOTO/WEATHER UNDERGROUND)Hurricane Paul weakened to a Category 1 storm as it raced toward landfall Tuesday on a sparsely populated stretch of Mexico's southern Baja peninsula.

Falcons soar to top of AP Pro32 NFL power rankings

Posted: 16 Oct 2012 01:02 PM PDT

Atlanta Falcons quarterback Matt Ryan (2) drops back to pass against the Oakland Raiders during the second half of an NFL football game, Sunday, Oct. 14, 2012, in Atlanta. (AP Photo/John Bazemore)The Atlanta Falcons have soared to the top of the AP Pro32 NFL power rankings after another close win left them as the NFL's only unbeaten team.

Democrats criticize legal spending to defend DOMA

Posted: 16 Oct 2012 12:55 PM PDT

The House's top two Democrats are criticizing Republicans for spending nearly $1.5 million over the past 15 months on outside lawyers to defend the Defense of Marriage Act that defines marriage as a union of a man and a woman.

Karadzic denies Bosnia war crimes as he starts defense

Posted: 16 Oct 2012 12:54 PM PDT

Former Bosnian Serb leader Karadzic talks to member of his legal team Sladojevic in the courtroom in The HagueTHE HAGUE (Reuters) - Former Bosnian Serb leader Radovan Karadzic, accused of some of the worst atrocities in Europe since World War Two, told judges he should be praised for promoting peace, not charged with war crimes, an assertion hotly denied by victims watching the trial. Beginning his defense, Karadzic accused Bosnian Muslims of deliberately staging some of the atrocities against their own people to win international support, drawing gasps of disbelief from Muslim survivors in the gallery of the court on Tuesday. ...

McCaskill waits tables, gets targeted by new ad

Posted: 16 Oct 2012 12:52 PM PDT

United States Sen. Claire McCaskill, D-Mo., brings the checks to University of Missouri-Columbia students Mitchell Perne, left, and Brady Finn on Tuesday Oct. 16, 2012 at Flat Branch Pub & Brewing in Columbia, Mo. McCaskill worked as a waitress while in college to help pay for tuition at the University of Missouri's law school. A camera crew and a throng of media witnessed the event. (AP Photo/Columbia Daily Tribune, Don Shrubshell)Missouri Sen. Claire McCaskill donned a waitressing apron and dished out hamburgers and pizza Tuesday to illustrate her support for federal student aid as her Republican challenger Todd Akin picked up some important advertising help from a political group affiliated with Kentucky Sen. Rand Paul.

Shotgun wedding? Jeweler offers rifles with rings

Posted: 16 Oct 2012 12:49 PM PDT

Have you spent your life hunting for the perfect wife? Maybe you have met the one but are feeling gun shy?

Earnhardt visits concussion specialist in Pa.

Posted: 16 Oct 2012 12:49 PM PDT

Dale Earnhardt Jr pauses as he talks about missing the next two races with his second concussion in the past six weeks during a news conference prior to practice for Saturday's NASCAR Bank of America 500 NASCAR Sprint Cup series auto race in Concord, N.C., Thursday, Oct. 11, 2012. (AP Photo/Chuck Burton)Dale Earnhardt Jr. visited a noted concussion specialist in Pittsburgh on Tuesday as part of the planned rehabilitation program to get NASCAR's most popular driver back in a car.

Govt to let Cubans travel freely

Posted: 16 Oct 2012 12:41 PM PDT

A woman shows her passport and that of her son to reporters as she leaves an immigration office in Havana, Cuba, Tuesday, Oct 16, 2012. The Cuban government announced Tuesday that it will no longer require islanders to apply for an exit visa, eliminating a much-loathed bureaucratic procedure that has been a major impediment for many seeking to travel overseas for more than a half-century. (AP Photo/Ramon Espinosa)The Cuban government announced Tuesday that it will eliminate a half-century-old restriction that requires citizens to get an exit visa to leave the country.

Clinton: I'm responsible for consulate security

Posted: 16 Oct 2012 12:40 PM PDT

U.S. Secretary of State Hillary Rodham Clinton pauses while delivering a speech after meeting Peru's President Ollanta Humala in Lima, Peru, Monday, Oct. 15, 2012. Taking responsibility for security at the U.S. consulate in Libya where an attack by extremists last month killed the U.S. ambassador and three other Americans, Clinton said Monday in Lima, that security at all of America's diplomatic missions abroad is her job, not that of the White House. (AP Photo/Karel Navarro)U.S. Secretary of State Hillary Rodham Clinton repeated on Tuesday her statement taking sole responsibility for security at all of America's diplomatic missions, an attempt to clear a political obstacle for her boss, President Barack Obama ahead of his second debate with Republican Mitt Romney.

Bettman, NHL make new offer in hope of full season

Posted: 16 Oct 2012 12:37 PM PDT

NHL commissioner Gary Bettman, center, arrives with deputy commissioner Bill Daly, right, as the NHL and its locked-out player resume negotiations in Toronto on Wednesday Oct. 16, 2012. (AP Photo/The Canadian Press, Chris Young)The NHL has made a new offer to the players' association that proposes a 50-50 split of hockey-related revenue and a full 82-game season starting Nov. 2.

Obama out to seize momentum from Romney in debate

Posted: 16 Oct 2012 12:36 PM PDT

President Barack Obama greets people as he arrives at John F. Kennedy International Airport, Tuesday, Oct. 16, 2012, in New York, en rout to Hempstead, N.Y. and a presidential debate. (AP Photo/Carolyn Kaster)President Barack Obama was looking to rebound in a White House debate rematch Tuesday, promising a more aggressive charge against rival Mitt Romney to stop the Republican's gains since their first face-off two weeks ago.

Analysis: Obama's crucial 2nd chance for 2nd term

Posted: 16 Oct 2012 12:33 PM PDT

A worker walks past a sign in the media filing center before Tuesday's presidential debate between President Barack Obama and Republican presidential candidate, former Massachusetts Gov. Mitt Romney, Monday, Oct. 15, 2012, at Hofstra University in Hempstead, N.Y. (AP Photo/Charlie Neibergall)Suddenly, the second presidential debate is Barack Obama's second chance.

Stocks higher on 3Q profits; Mattel jumps

Posted: 16 Oct 2012 12:29 PM PDT

FILE - In this Monday, Oct. 15, 2012 file photo, specialists Edward Zelles, left, and Patrick Murphy work on the floor of the New York Stock Exchange. U.S. stock futures rose Tuesday for a second day as the earnings season kicked into high gear, with major players in the health care, banking and consumer industries reporting quarterly results. (AP Photo/Richard Drew, File)Inflation is low, earnings are high, investors are happy.

Battery maker A123 files for bankruptcy protection

Posted: 16 Oct 2012 12:25 PM PDT

FILE - In this Feb. 23, 2007, file photo, President Bush, center, listens to Dave Vieau, President and CEO of A123 Systems, right, as he is shown a Toyota Prius plug-in hybrid car utilizing a lithium power battery during a demonstration of alternative fuel automobiles on the South Lawn of the White House. Short of cash and hurting from slow sales of electric cars, battery maker A123 Systems Inc. sent its U.S. operations into bankruptcy protection on Tuesday, Oct. 16, 2012, and quickly sold its automotive assets. The filing is likely to stoke the debate in Washington over the Obama administration's funding of alternative energy companies. In 2009, A123 got a $249 million Department of Energy grant to help it build U.S. factories. Republicans have accused Obama of wasting stimulus money on the companies after the failure of politically connected and now-bankrupt solar power company Solyndra LLC, which left taxpayers on the hook for $528 million. (AP Photo/Charles Dharapak, File)The U.S. operations of electric car battery maker A123 Systems filed for bankruptcy protection and its automotive assets are being acquired by Johnson Controls for $125 million.

Browns sale to Haslam approved; Holmgren to leave

Posted: 16 Oct 2012 12:19 PM PDT

FILE - This Aug. 3, 2012 file photo shows Jimmy Haslam III during a news conference in Berea, Ohio. The sale of the Cleveland Browns to Haslam III was unanimously approved by NFL owners Tuesday, Oct. 16, 2012, and team President Mike Holmgren will be leaving the Browns at the end of the season. (AP Photo/Jay LaPrete, File)Mike Holmgren won't be finishing the job he went to do in Cleveland.
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