Budget talk optimism spurs Wall Street rally

NEW YORK (Reuters) - Stocks bounced higher for a second consecutive session on Monday as investors were encouraged by the early atmosphere surrounding talks to tackle the nation's fiscal crunch.

Stronger-than-expected earnings from Lowe's and Tyson Foods, as well as encouraging housing data, also contributed to the market's advance. Tyson and Lowe's were the top two percentage gainers on the S&P 500.

The S&P 500 is up more than 2 percent in the last two sessions as rhetoric from legislators over the weekend suggests a deal could be reached to stave off the looming "fiscal cliff," a series of tax and spending changes that will begin to take effect in the new year. The two sides are still far apart in negotiations, however.

The benchmark S&P index had fallen 5.3 percent between Election Day and Friday's rebound, as investors took the opportunity to sell stocks - including some of the year's best performers - just in case Washington cannot come to an agreement and taxes on dividends and capital gains rise in 2013.

"Everyone is quietly breathing a sigh of relief, because frankly, we are no longer looking over the edge of a cliff, we are looking at an opportunity to step back and recalibrate," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

However, the rebound could be a short-lived reprieve from the sharp declines and market volatility could still rise, depending on progress in negotiations. A number of sectors were considered oversold on a technical basis - suggesting a buying opportunity.

"There is no question, what lit the fuse was constructive conversation, constructive talking points out of Washington that has done far more to help the market than anything else - the backdrop is the oversold" market, Kenny said.

Monday's advance marked the biggest percentage gain for the S&P 500 since November 6, when the European Central Bank announced a new bond-buying program aimed at containing the region's debt crisis.

Shares of Lowe's Cos Inc , the world's No. 2 home improvement chain, jumped 6.2 percent to $33.96 to hit a 52-week high after the company reported higher-than-expected quarterly profit and raised its full-year sales forecast.

Home improvement chains tend to benefit as housing strengthens. U.S. home resales unexpectedly increased in October, while separate data showed homebuilder sentiment rose to its highest level in over six years in November.

The PHLX Housing Index <.hgx> rose 1.8 percent.

The Dow Jones industrial average <.dji> gained 207.65 points, or 1.65 percent, at 12,795.96. The Standard & Poor's 500 Index <.spx> was up 27.01 points, or 1.99 percent, at 1,386.89. The Nasdaq Composite Index <.ixic> was up 62.94 points, or 2.21 percent, at 2,916.07.

The S&P edged above its 200-day moving average at around 1,382, which has acted as a resistance level since a drop below the technically significant mark on November 8.

Tyson Foods Inc beat expectations and gave an upbeat forecast, sending its stock up 10.9 percent to $18.72.

Intel shares edged higher, up 0.3 percent to $20.25 after the company said its chief executive will retire in May.

Commodities prices surged, boosting shares of resource companies. Freeport-McMoRan rose 4.1 percent to $38.28, while U.S. Steel rose 5.3 percent to $21.15. The S&P materials sector <.gspm> advanced 2.9 percent as the best performing of the 10 major S&P sectors.

Volume was light and is expected to remain so throughout the Thanksgiving Day holiday-shortened trading week, with about 6.14 billion shares traded on the New York Stock Exchange, NYSE MKT and Nasdaq, below the daily average of 6.49 billion.

Advancing stocks outnumbered declines on the NYSE by 2,678 to 350, while on the Nasdaq, advancers beat decliners 1,949 to 521.

(Reporting by Chuck Mikolajczak; Editing by Dan Grebler)

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Hamas Leader Dares Israel to Invade Amid Gaza Airstrikes

GAZA CITY — The top leader of Hamas dared Israel on Monday to launch a ground invasion of Gaza and dismissed diplomatic efforts to broker a cease-fire in the six-day-old conflict, as the Israeli military conducted a new wave of deadly airstrikes on the besieged Palestinian enclave, including a second hit on a 15-story building that houses media outlets. A volley of rockets fired from Gaza into southern Israel included one that hit a vacant school.

Speaking at a news conference in Cairo, where the diplomatic efforts were under way, the Hamas leader, Khaled Meshal, suggested that the Israeli infantry mobilization on the border with Gaza was a bluff on the part of Prime Minister Benjamin Netanyahu of Israel.

“If you wanted to launch it, you would have done it,” Mr. Meshal told reporters. He accused Israel of using the invasion threat as an attempt to “dictate its own terms and force us into silence.”

Rejecting Israel’s contention that Hamas had precipitated the conflict, Mr. Meshal said the burden was on the Israelis. “The demand of the people of Gaza is meeting their legimitate demands — for Israel to be restrained from its aggression, assassinations and invasions, and for the siege over Gaza to be ended,” he said.

The Hamas Health Ministry said Monday evening that a total of 107 people had been killed since Wednesday morning, when Israeli airstrikes began, following months of Palestinian rocket fire into Israel. A spokeswoman for the Israeli military said she believed that a majority of these were militants, though it is difficult to know because Hamas’s own fighting brigade and the other factional groups are secretive.

The Hamas ministry said that the dead included at least 26 children, 10 women and 12 men over 50, who were presumably not involved in combat. Of the remainder, at least 36 are known militants. Hamas officials said more than 860 have been wounded, 260 of them children, 140 of them women and 55 men over 50.

Three people have been killed so far in Israel, all civilians, in a rocket strike that hit an apartment house in the southern Israeli town of Kiryat Malachi on Thursday morning. The Israelis have said that at least 79 Israelis have been wounded and that Gaza rockets have reached as far north as Tel Aviv.

The latest Gaza casualties — 22 people reported killed since midnight local time — included Palestinians killed in strikes by warplanes, a drone attack on two men on a motorcycle, and a father and two toddler sons in their bombed northern Gaza home, witnesses and medical sources said. Another Israeli drone attack killed the driver of a taxi hired by journalists and displaying “Press” signs, although it was not clear which journalists had hired it, Palestinian officials said.

On Sunday, Israeli forces attacked two buildings housing local broadcasters and production companies used by foreign outlets. Israeli officials denied targeting journalists, but on Monday Israeli forces again blasted the Al Sharouk block, a multiuse building where many local broadcasters, as well as Sky News of Britain and the channel Al Arabiya, had offices.

That attack, which struck a computer shop on the third floor, sparked a blaze that sent plumes of dark smoke creeping up the sides of the building. Video footage showed clouds of smoke billowing.

An Israeli bomb pummeled a home deep into the ground here on Sunday, killing 11 people, including nine in three generations of a single family, in the deadliest single strike since the latest conflict began. Members of the family were buried Monday in a rite that turned into a gesture of defiance and became a rally supporting Gaza’s militant Hamas rulers.

A militant leader said Tel Aviv, in the Israeli heartland, would be hit “over and over” and warned Israelis that their leaders were misleading them and would “take them to hell.”

Israel says its onslaught is designed to stop Hamas from launching the rockets, but, after an apparent lull overnight, more missiles hurtled toward targets in Israel, some of them intercepted by Israel’s Iron Dome defense system. Of five rockets fired on Monday at the southern Israeli city of Ashkelon, four were intercepted but one smashed through the concrete roof at the entrance to an empty school. There were no reports of casualties. Other rockets rained on areas along the border with Gaza.

Later a second salvo struck Ashkelon. Several rockets were intercepted, but one crashed down onto a house, causing damage but no casualties.

Israeli officials said 135 rockets were fired from Gaza at Israel on Monday, of which 42 were intercepted by Iron Dome, Most of the others landed in open areas.

On Sunday, a new volley of Palestinian rockets totaled nearly 100 by nightfall, including two that soared toward Tel Aviv but were knocked out of the sky by Israeli defenses.

Fares Akram and Jodi Rudoren reported from Gaza City, and Alan Cowell from London. Reporting was contributed by Isabel Kershner from Ashkelon, Israel; Ethan Bronner, Myra Noveck and Irit Pazner Garshowitz from Jerusalem; Rina Castelnuovo from Ashdod, Israel; Peter Baker from Bangkok; and David D. Kirkpatrick from Cairo.

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Wii U: New console launches in a sea of gadgets

NEW YORK (AP) — In the six years since the last major video game system launched, Apple unveiled the iPhone and the iPad, “Angry Birds” invaded smartphones and Facebook reached a billion users. In the process, scores of video game consoles were left to languish in living rooms alongside dusty VCRs and disc players.

On Sunday, Nintendo Co. is launching the Wii U, a game machine designed to appeal both to the original Wii’s casual audience and the hardcore gamers who skip work to be among the first to play the latest “Call of Duty” release. Just like the Wii U’s predecessor, the Wii, which has sold nearly 100 million units worldwide since 2006, the new console’s intended audience “truly is 5 to 95,” says Reggie Fils-Aime, the president of Nintendo of America, the Japanese company’s U.S. arm.

But the Wii U arrives in a new world. Video game console sales have been falling, largely because it’s been so long since a new system has launched. Most people who wanted an Xbox 360, PlayStation 3 or a Wii already have one. Another reason: People in the broad 5-to-95 age range have shifted their attention to games on Facebook, tablet computers and mobile phones.

U.S. video game sales last month, including hardware, software and accessories, totaled $ 755.5 million, according to the research firm NPD Group. In October 2007, the figure stood at $ 1.1 billion.

The Wii U is likely to do well during the holiday shopping season, analysts believe —so well that shoppers may see shortages. But the surge could peter out in 2013. The Wii U is not expected to be the juggernaut that the Wii was in its heyday, according to research firm IHS iSuppli. The Wii outsold its competitors, the Xbox 360 and the PlayStation 3, in its first four years on sale, logging some 79 million units by the end of 2010. By comparison, IHS expects the Wii U to sell 56.7 million in its first four years.

In the age of a million gadgets and lean wallets, the storied game company faces a new challenge: convincing people that they need a new video game system rather than, say, a new iPad.

The Wii U, which starts at $ 300, isn’t lacking in appeal. It allows for “asymmetrical game play,” meaning two people playing the same game can have entirely different experiences depending on whether they use a new tablet-like controller called the GamePad or the traditional Wii remote. The GamePad can also be used to play games without using a TV set, as you would on a regular tablet. And it serves as a fancy remote controller to navigate a TV-watching feature called TVii, which will be available in December.

Nintendo, known for iconic game characters such as Mario, Donkey Kong and Zelda, is expected to sell the consoles quickly in the weeks leading up to the holidays. After all, it’s been six long years and sons, daughters, brothers and sisters are demanding presents. GameStop Corp., the world’s No. 1 video game retailer, said last week that advance orders sold out and it has nearly 500,000 people on its Wii U waitlist.

Even so, it’s a “very, very crowded space in consumer electronics” this holiday season, notes Ben Bajarin, a principal analyst at Creative Strategies who covers gaming.

Apple‘s duo of iPads, the full-size model and a smaller version called the Mini, will be competing for shoppers’ attention. Not to be outdone, Amazon.com Inc. has launched a trove of Kindle tablets and e-readers in time for the holidays. These range from the Paperwhite, a touch-screen e-reader, to the Kindle Fire HD, which features a color screen and can work with a cellular data plan. Then there are the new laptops and cheaper, thinner “ultrabooks” featuring Microsoft’s new Windows 8 operating system —not to mention smartphones from Apple Inc., Samsung and other manufacturers.

“Nintendo has to be a cut above the noise here,” Bajarin says.

The Wii U is the first major game console to launch in years, but in some ways Nintendo is merely catching up with the HD trend. Sony Corp. and Microsoft Corp. began selling their own powerful, high-definition consoles six and seven years ago, respectively. Both Sony and Microsoft are expected to unveil new game consoles in 2013.

Baird analyst Colin Sebastian thinks the question is not how well the Wii U will do during the holidays, but how it will fare three and six months later.

Gaming has changed significantly in the past six years, especially when it comes to the type of mass-audience experiences that serve as Nintendo‘s bread and butter. Zynga Inc., the online game company behind Facebook games such as “FarmVille” and “Texas HoldEm Poker,” was founded in 2007. The first “Angry Birds” game, that addictive, quirky distraction that has players flinging cartoon birds at structures hiding smug green pigs launched in late 2009. The first iPad, of course, came out in 2010 —three years after the first iPhone.

Fils-Aime acknowledges that Nintendo competes in the broad entertainment landscape, “minute-by-minute,” for consumers’ time.

“That’s true today and that was true 20 years ago,” he says, adding that Nintendo‘s challenge is communicating to people “what is so fun and appealing about the new system.”

Analysts expect Wii U sales to be brisk over the holidays. Nintendo‘s loyal —some would say, fanatical— fan base has been placing advance orders and will likely keep the systems flying off store shelves well into next year. The classic Mario and Zelda games are a huge part of the appeal, since they can’t be played on any gaming system but Nintendo‘s.

Research firm IHS iSuppli estimates that by the end of the year, people will have snapped up 3.5 million Wii U consoles worldwide, compared with 3.1 million Wii units in the same period through the end of 2006.

After the Wii went on sale, shortages persisted for months. Stores were met with long lines of shoppers trying to get their hands on a Wii as late as July 2007, more than seven months after the system’s launch.

Though supply constraints are expected this time around, Fils-Aime says Nintendo will have more hardware available in the Americas than it had for the Wii’s initial months on the market. The company says it will also replenish retailers more frequently than it did six years ago.

An initial sell-out doesn’t mean the Wii U will be successful over the long term, IHS notes, citing its estimate that the Wii U won’t match the Wii’s sales over time.

Bajarin believes it’s going to take “a little bit of time” for the Wii U’s dual-screen gaming concept to sink in with people. If it proves popular, Nintendo could see even more competition at its hands.

“Technologically, it’s not a leap of the imagination to see Apple, Google, Microsoft do something like this,” he says.

____

Follow Barbara Ortutay on Twitter at https://twitter.com/BarbaraOrtutay

Gadgets News Headlines – Yahoo! News

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American Music Awards: Watch the Red Carpet Live!

11/18/2012 at 05:00 PM EST

Video streaming by Ustream

The 40th Anniversary American Music Awards is on tonight, but before stars like Justin Bieber and Taylor Swift take to the stage, celebs will be strutting their stuff on the red carpet – and PEOPLE will bring you live coverage.

Watch the above stream at 5 p.m. ET/2 p.m. PT for live footage from the Coca-Cola Red Carpet LIVE show.

For this year's special 40th anniversary AMAs ceremony, stars from Carrie Underwood to Nicki Minaj to Linkin Park will perform. Plus, Stevie Wonder will offer up a tribute to late radio legend Dick Clark.

Among the special performances, Bieber and Minaj will take the stage together, as will Ludacris, Chris Brown, and Swizz Beatz.

Catch all the coverage of the carpet live on People.com before the show airs tonight on ABC at 8 p.m.

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EU drug regulator OKs Novartis' meningitis B shot

LONDON (AP) — Europe's top drug regulator has recommended approval for the first vaccine against meningitis B, made by Novartis AG.

There are five types of bacterial meningitis. While vaccines exist to protect against the other four, none has previously been licensed for type B meningitis. In Europe, type B is the most common, causing 3,000 to 5,000 cases every year.

Meningitis mainly affects infants and children. It kills about 8 percent of patients and leaves others with lifelong consequences such as brain damage.

In a statement on Friday, Andrin Oswald of Novartis said he is "proud of the major advance" the company has made in developing its vaccine Bexsero. It is aimed at children over two months of age, and Novartis is hoping countries will include the shot among the routine ones for childhood diseases such as measles.

Novartis said the immunization has had side effects such as fever and redness at the injection site.

Recommendations from the European Medicines Agency are usually adopted by the European Commission. Novartis also is seeking to test the vaccine in the U.S.

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Gaza Violence Is Unabating as Outsiders Push for a Truce

GAZA CITY — Israeli forces killed at least 11 people, including several children, in a single airstrike that destroyed a home here on Sunday, as Israel pressed its bombardment of the Gaza Strip for a fifth day, deploying warplanes and naval vessels to pummel the coastal enclave.

The airstrike, which the Israeli military said was meant to kill a Palestinian militant involved in the recent rocket attacks, was the deadliest operation to date and would no doubt weigh on negotiations for a possible cease-fire. Among the dead were five women and four small children, The Associated Press reported, citing a Palestinian health official.

Two media offices were also hit on Sunday, and Prime Minister Benjamin Netanyahu of Israel warned of a “significant” expansion in the onslaught, which has already killed over 50 people, many of them civilians.

Speaking on Sunday from Bangkok, President Obama condemned missile attacks by Palestinian fighters in Gaza and defended Israel’s right to protect itself.

“There’s no country on earth that would tolerate missiles raining down on its citizens from outside its borders,” Mr. Obama said in his first public comments since the violence broke out. “We are fully supportive of Israel’s right to defend itself.”

The president also said that efforts were under way to address Israel’s security concerns and end the violence. “We’re going to have to see what kind of progress we can make in the next 24, 36, 48 hours,” Mr. Obama said.

Even as the diplomacy intensified on Sunday, the attacks continued in Gaza and Israel.

Mr. Netanyahu made his warning as militants in Gaza aimed at least one rocket at Tel Aviv, a day after Israeli forces broadened the attack beyond military targets, bombing centers of government infrastructure in Gaza, including the four-story headquarters of the Hamas prime minister.

“We are exacting a heavy price from Hamas and the terrorist organizations, and the Israel Defense Forces are prepared for a significant expansion of the operation,” Mr. Netanyahu told his cabinet at its routine Sunday meeting, referring directly to the of thousands of reservists who have been called up and the massing of armor on the Gaza border that many analysts have interpreted as preparations for a possible invasion.

“I appreciate the rapid and impressive mobilization of the reservists who have come from all over the country and turned out for the mission at hand,” Mr. Netanyahu said. “Reservist and conscript soldiers are ready for any order they might receive.”

His remarks were reported shortly after a battery of Israel’s Iron Dome defense shield, hastily deployed near Tel Aviv on Saturday in response to the threat of longer-range rockets, intercepted at least one aimed at the city on Sunday, Israeli officials said. It was the latest of several salvos that have illustrated Hamas’s ability to extend the reach of its rocket attacks.

Since Wednesday, when the escalation of the conflict began, Iron Dome has knocked 245 rockets out of the sky, the military said Saturday, while 500 have struck Israel.

The American-financed system is designed to intercept only rockets streaking toward towns and cities and to ignore those likely to strike open ground. But on Sunday a rocket fired from Gaza plowed through the roof of an apartment building in the southern Israeli city of Ashkelon. There were no immediate reports of casualties there.

In Gaza City, the crash of explosions pierced the quiet several times throughout the early morning.

Before the latest deadly strike involving civilians on Sunday, Hamas health officials had said the Palestinian death toll had risen to 53. One of the latest victims was a 52-year-old woman whose house in the eastern part of Gaza City was bombed around lunchtime.

A few hours earlier, a Hamas militant was killed and seven people were wounded in an attack on the Beach Refugee Camp, where Ismail Haniya, the Hamas prime minister, has a home. Those killed on Sunday included three children ages 1 through 5, the health officials said.

In Israel, 3 civilians have died and 63 have been injured. Four soldiers were wounded on Saturday.

The onslaught continued despite talks in Cairo that President Mohamed Morsi of Egypt said Saturday night could soon result in a cease-fire. Mr. Netanyahu said he would consider a comprehensive cease-fire if the launchings from Gaza stopped.

The attack on Mr. Haniya’s office, one of several on government installations, came a day after he hosted his Egyptian counterpart in the same building, a sign of Hamas’s new legitimacy in a radically redrawn Arab world.

Jodi Rudoren and Fares Akram reported from Gaza City. Reporting was contributed by Isabel Kershner, Carol Sutherland and Iritz Pazner Garshowitz from Jerusalem; Tyler Hicks from Gaza, Peter Baker from Bangkok, Alan Cowell from London, Michael Schwirtz from New York and David D. Kirkpatrick and Mayy El Sheikh from Cairo.

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How new Kindle Fire compares with rivals

Amazon.com Inc. started shipping a larger version of its Kindle Fire HD tablet computer on Thursday. Here’s a look at how it compares with the iPad and other tablets with similar screens.

Amazon.com Inc.‘s Kindle Fire HD 8.9″:

— Price: $ 299 for 16 gigabytes of storage, $ 369 for 32 GB.

— Screen size: 8.9 inches diagonally

— Screen resolution: 1920 by 1200 pixels, at 254 pixels per inch.

— Weight: 1.25 pounds.

— Cameras: Front-facing camera.

— Battery life: 10 hours.

— Operating system: Modified version of Google‘s Android

Pros: Cheap and portable. Convenient access to Amazon store. Dolby audio. Available with access to fast 4G wireless broadband networks, for $ 499 (starts shipping next Tuesday).

Cons: Small selection of third-party applications available from Amazon. No rear camera for taking video and photos.

Apple Inc.‘s iPad:

— Price: Starts at $ 499 for 16 gigabytes of storage, goes up to $ 699 for 64 gigabytes, more for versions with cellular data access. (Apple still sells the older, iPad 2 for $ 399.)

— Screen size: 9.7 inches diagonally

— Screen resolution: 2048 by 1536 pixels, at 264 pixels per inch.

— Weight: 1.44 pounds

— Cameras: 5-megapixel camera on back and a low-resolution camera on front, for videoconferencing

— Battery life: 10 hours.

— Operating system: Apple’s iOS

Pros: Unmatched access to third-party applications, high-quality Apple software and the iTunes store. Widest range of cases and accessories available. Available with access to fast 4G wireless broadband networks, starting at $ 629.

Cons: Data storage cannot be expanded with memory cards.

Google Inc.’s Nexus 10

— Price: $ 399 for 16 gigabytes of storage, $ 499 for 32 GB

— Screen size: 10.1 inches diagonally

— Screen resolution: 2560 by 1600 pixels, at 300 pixels per inch.

— Weight: 1.33 pounds.

— Cameras: 5-megapixel camera on back and a low-resolution camera on front, for videoconferencing

— Battery life: 9 hours for video playback, 7 hours for Web browsing.

— Operating system: Google‘s Android

Pros: Access to a variety of games, utilities and other software for Android devices, though not as extensive as apps available for iPad. Longer, narrower screen better suited to movies. Cheaper than newest full-size iPad.

Cons: Integrates with Google Play store, which is still new and isn’t as robust as Apple or Amazon’s stores. Data storage cannot be expanded with memory cards. No option for cellular wireless broadband.

Samsung Electronic Co.’s Galaxy Tab 2 10.1:

— Price: $ 399 for 16 gigabytes of storage

— Screen size: 10.1 inches diagonally

— Screen resolution: 1280 by 800 pixels, 149 pixels per inch

— Weight: 1.24 pounds

— Cameras: low-resolution front camera, 3-megapixel back.

— Battery life: 11 hours.

— Operating system: Google‘s Android

Pros: Storage is expandable with microSD memory cards. Can act as a universal remote control for an entertainment center. Option for wireless broadband starting in November.

Cons: Selection of third-party applications not as good as iPad’s, but wider than Kindle. Screen resolution lower than iPad’s.

Samsung Electronic Co.’s Galaxy Note 10.1:

— Price: $ 499 for 16 gigabytes of storage, $ 549 for 32 GB

— Screen size: 10.1 inches diagonally

— Screen resolution: 1280 by 800 pixels, 149 pixels per inch

— Weight: 1.3 pounds

— Cameras: low-resolution front camera, 5-megapixel back.

— Battery life: 9 hours.

— Operating system: Google‘s Android

Pros: Comes with a pen, for jotting notes and drawing on the screen. Slightly thinner and lighter than an iPad. Longer, narrower screen better suited to movies. Storage is expandable with microSD memory cards. Can act as a universal remote control for an entertainment center.

Cons: Selection of third-party applications not as good as iPad’s, but wider than Kindle. Screen resolution lower than iPad’s. No option for wireless broadband. Pen sensor slightly shortens battery life.

Barnes & Noble Inc.’s Nook HD+

— Price: $ 269 for 16 gigabytes of storage; $ 299 for 32 GB

— Screen size: 9 inches diagonally

— Screen resolution: 1920 x 1280 pixels, 256 pixels per inch

— Weight: 1.14 pounds

— Cameras: None.

— Battery life: 10 hours of reading, 9 hours of video

— Operating system: Modified version of Google‘s Android

Pros: Cheap and portable. Storage is expandable with microSD memory cards. Easy access to Barnes & Noble book store.

Cons: Selection of third-party applications is small. Barnes & Noble lacks wide range of content. Lacks cameras and option for wireless broadband.

Microsoft Corp.’s Surface:

— Price: $ 499 for 32 gigabytes of storage, $ 100 extra for keyboard cover. $ 699 for 64 GB version, includes keyboard cover.

— Screen size: 10.6 inches diagonally

— Screen resolution: 1366 by 768 pixels, 148 pixels per inch

— Weight: 1.5 pounds.

— Cameras: Front and back cameras

— Battery life: 8 hours.

— Operating system: Microsoft’s Windows RT.

Pros: Storage can be expanded with microSD memory cards. Comes with free Microsoft Office software. Models running full version of Windows 8 coming soon, offering compatibility with programs available for traditional Windows computers.

Cons: Operating system lacks good track record on tablets. Selection of tablet-adapted third-party applications small. No option for wireless broadband.

Gadgets News Headlines – Yahoo! News

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President Obama Perfects the McKayla Maroney Scowl

By Kristen Mascia

11/17/2012 at 01:45 PM EST

Pete Souza/The White House/Getty

Heads up, America: the President is not impressed.

During the U.S. women's gymnastics team's visit to the White House on Thursday, president Barack Obama posed with McKayla Maroney, pulling the apathetic expression that made Maroney an Internet sensation during the Summer Games in London.

Afterwards, the gold medalist, 16 – who's been mimicked by everyone from Maria Menounos to, perhaps inadvertently, Prince William – seemed uncharacteristically, well, impressed.

She Tweeted: "Did I just do the Not Impressed face with the President?"

For those who don't recall, the scowl that sparked a thousand memes originated after Maroney's faulty landing during the individual women's gymnastics vault event in London.

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EU drug regulator OKs Novartis' meningitis B shot

LONDON (AP) — Europe's top drug regulator has recommended approval for the first vaccine against meningitis B, made by Novartis AG.

There are five types of bacterial meningitis. While vaccines exist to protect against the other four, none has previously been licensed for type B meningitis. In Europe, type B is the most common, causing 3,000 to 5,000 cases every year.

Meningitis mainly affects infants and children. It kills about 8 percent of patients and leaves others with lifelong consequences such as brain damage.

In a statement on Friday, Andrin Oswald of Novartis said he is "proud of the major advance" the company has made in developing its vaccine Bexsero. It is aimed at children over two months of age, and Novartis is hoping countries will include the shot among the routine ones for childhood diseases such as measles.

Novartis said the immunization has had side effects such as fever and redness at the injection site.

Recommendations from the European Medicines Agency are usually adopted by the European Commission. Novartis also is seeking to test the vaccine in the U.S.

Read More..

Wall Street Week Ahead: Going off "cliff" with a bungee cord

NEW YORK (Reuters) - The 1987 crash. The Y2K bug. The debt ceiling debacle of 2011.

All these events, in the end, turned out to be buying opportunities for stocks. So will the "fiscal cliff," some investors say as they watch favorite stocks tumble during the political give-and-take happening in Washington.

The first round of talks aimed at avoiding the "fiscal cliff" caused a temporary rise in equities on Friday, signaling Wall Street's recent declines could be a buying opportunity. The gains were small and sentiment remains weak, but it suggests hope for market bulls.

Though shares ended moderately higher on Friday, it was not enough to offset losses for the week. The S&P was down 1.5 percent, while both the Dow and the Nasdaq fell 1.8 percent.

The S&P 500 is down more than 5 percent in the seven sessions that followed President Barack Obama's re-election. Uncertainty arose as attention turned to Washington's task of dealing with mandated tax hikes and spending cuts that could take the U.S. economy back into recession.

Some see the market's move as an overreaction to hyperbolic headlines about policy gridlock in Washington, believing stocks may start to rebound in what should be a quiet few days ahead of the Thanksgiving holiday next Thursday.

"It just doesn't seem to make any sense that you suddenly wake up the day after the election and realize we've got a fiscal cliff," said Krishna Kumar, partner at New York hedge fund Goose Hollow Alpha Advisors.

Not long ago the S&P was on target for its second-best year in the last 10, riding a 17 percent advance in 2012. That's been halved to about 8 percent, which isn't bad but disappointing compared with just a month ago.

Investors have been selling the year's winners. Apple is down 25 percent from its peak above $700. General Electric is down 14 percent; Google has lost 16 percent. Overall, the stocks that make up the top 10 percent of performers in the month prior to Election Day have been the worst performers since, according to Bespoke Investment Group of Harrison, New York.

"I think it's a good opportunity to be long stocks at these levels," said Kumar.

Hikes on capital gains and dividend taxes are on the line, and Obama has dug in his heels on what he sees as a mandate to make the tax code more progressive.

He seems to have the upper hand in dealings with Congress because Republican lawmakers don't want to see tax rates increase, which is what will happen if no solution is found by the beginning of 2013. Republicans don't want to take the blame for driving the economy over the cliff.

The current crisis is similar to last year's fight to raise the U.S. debt ceiling, which led to the downgrade of the United States' top credit rating in early August 2011.

During the dealings, the S&P 500 lost 18.8 percent between its peak in July 2011 and its bottom in August. As the market slid, the political standoff badly hurt investors' confidence in Washington, setting off a spike in volatility.

In the end a deal was announced that raised the ceiling and put off longer-term fiscal decisions until January 1, 2013, setting the stage for today's "fiscal cliff" crisis.

After staying flat through September 2011, the S&P 500 jumped 31 percent between its October low and the end of March.

BUY THE DIP?

Gridlock in Washington and all that could possibly go wrong with the economy if a deal is not reached have grabbed the headlines, but the negotiations leave room for stock market gains. Congressional leaders said Friday they will work through the Thanksgiving holiday recess to find a solution.

"The debate over how to solve (the fiscal cliff) may be more productive than is commonly recognized," said Brad Lipsig, senior portfolio manager at UBS Financial Services in New York.

"The U.S. is facing a major debt overhang, and serious steps toward addressing it might ultimately be viewed as a positive for future growth," he said. "The market may recognize this and, after a time of hand wringing, recover from the concerns with a renewed sense of optimism."

The recent selling took the S&P 500's relative strength index - a technical measure of internal strength - below 30 this week, indicating the benchmark is oversold and due for a rebound.

The RSI in four of the 10 S&P sectors - utilities, telecoms, consumer staples and technology - is below 30 and the highest RSI reading, for the consumer discretionary sector, is below 40, suggesting a bounce is in store.

"What I want to do is what we did during the decline following the budget negotiations in the summer of 2011: The lower the stock market goes, the more I want to own stock," said Brian Reynolds, chief market strategist at New York-based Rosenblatt Securities.

"If we go off the cliff it will be with a bungee cord attached," he said.

KEEP CALM AND HEDGE

Volatility is expected to rise through the end of November and to spike in late December if no agreement on the fiscal cliff is reached in Congress. Alongside comes opportunity for those with high risk tolerance.

"Recently, volatility has increased in the market overall. You can't really pick it up in the VIX yet, but I think as we get through November, I think you're likely to see the VIX be at a relatively higher level," said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston.

In 2011, the VIX averaged 19.2 in July and 35 in August. So far this month the average is 17.8 and it is expected to spike if negotiations on the cliff drag into late next month.

"Looking at the range of possibilities, I would say any of them would be better than sitting here waiting. I would even put going off the fiscal cliff in that category," said Jill Cuniff, president of Seattle-based Edge Asset Management Inc, which manages about $20 billion.

"But we don't believe Congress will let that happen; there's going to be some middle ground here."

(Reporting by Rodrigo Campos and Jonathan Spincer, additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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