Zynga shares slide after privileged status with Facebook ends












(Reuters) – Shares of gaming company Zynga Inc fell as much as 10 percent, a day after the “Farmville” creator reached an agreement with Facebook Inc that reduces its dependence on the social networking giant.


The companies reported in regulatory filings on Thursday that they have reached an agreement to amend a 2010 deal that was widely seen as giving Zynga privileged status on the world’s No.1 social network.












Zynga gets a freer hand to operate a standalone gaming website, but gives up its ability to promote its site on Facebook and to draw from the thriving social network of about 1 billion users.


“Although Zynga investors have reacted negatively to Thursday’s announcements so far, we view them as a long-term positive for both companies,” Wedbush Securities analyst Michael Pachter said in a note to clients.


“Zynga now has an advantage to offer more payment options which could result in additional subscribers who are not Facebook users,” he said, maintaining his “outperform” rating and price target of $ 4 on the stock.


Both internet companies have been trying to reduce their interdependence, with Zynga starting up its own Zynga.com platform, and Facebook wooing other games developers.


In recent quarters, fees from Zynga contributed 15 percent of Facebook’s revenue, while Zynga relies on Facebook for roughly 80 percent of its revenue.


Francisco-based Zynga’s shares were down 7 percent at $ 2.44 in morning trading on the New York Stock Exchange on Friday.


Facebook shares were down more than 1 percent at $ 26.98.


(Reporting By Aurindom Mukherjee in Bangalore; Editing by Don Sebastian)


Tech News Headlines – Yahoo! News


Read More..

Zynga shares slide after privileged status with Facebook ends












(Reuters) – Shares of gaming company Zynga Inc fell as much as 10 percent, a day after the “Farmville” creator reached an agreement with Facebook Inc that reduces its dependence on the social networking giant.


The companies reported in regulatory filings on Thursday that they have reached an agreement to amend a 2010 deal that was widely seen as giving Zynga privileged status on the world’s No.1 social network.












Zynga gets a freer hand to operate a standalone gaming website, but gives up its ability to promote its site on Facebook and to draw from the thriving social network of about 1 billion users.


“Although Zynga investors have reacted negatively to Thursday’s announcements so far, we view them as a long-term positive for both companies,” Wedbush Securities analyst Michael Pachter said in a note to clients.


“Zynga now has an advantage to offer more payment options which could result in additional subscribers who are not Facebook users,” he said, maintaining his “outperform” rating and price target of $ 4 on the stock.


Both internet companies have been trying to reduce their interdependence, with Zynga starting up its own Zynga.com platform, and Facebook wooing other games developers.


In recent quarters, fees from Zynga contributed 15 percent of Facebook’s revenue, while Zynga relies on Facebook for roughly 80 percent of its revenue.


Francisco-based Zynga’s shares were down 7 percent at $ 2.44 in morning trading on the New York Stock Exchange on Friday.


Facebook shares were down more than 1 percent at $ 26.98.


(Reporting By Aurindom Mukherjee in Bangalore; Editing by Don Sebastian)


Tech News Headlines – Yahoo! News


Read More..

Dolly Parton talks dreams, love, plastic surgery












NEW YORK (Reuters) – Although Dolly Parton has cemented her place in country and popular music, pop culture, and as an entrepreneur and philanthropist, she still, on occasion, gets nervous.


Her new book, “Dream More: Celebrate the Dreamer in You” encourages readers to overcome their fears, believe in their passions and keep taking risks.












The “I Will Always Love You” singer/songwriter, 66, who has written more than 3,000 songs and sold more than 100 million records, talked to Reuters about the message of the book, which was published this week.


Q. You say you put off writing this book?


A. “It’s just a simple little book. It’s not meant to save the world, or it’s not a complete book of how to be successful, but I think there is enough stuff in it for people to see kinda how I conduct my business and kinda what my thoughts are. And the good part is that all the money, if it sells good, goes to Imagination Library.”


Q. Right – your nonprofit quest to get kids to read?


A. “It’s one of the reasons I wanted to write this too, because I usually do concerts every year, for the foundation to make money to afford a lot of books, but I am not on tour now.”


Q. Talk about your 2009 commencement address at the University of Tennessee. Were you nervous?


A. “Well, yes, when I am out of my element doing things. I am not that educated and I didn’t go that far in school and I thought, ‘What am I going to say to these educated people, not just these kids who have just graduated college and are probably brilliant, but all these professionals and all these teachers?’ And I thought, ‘Oh, I am not smart enough’, but I thought, ‘Well, at least I am a hometown girl. At least they can see that in America, you can start from humble beginnings, that everybody can make it.”


Q. Which is one of the book’s messages, overcoming fears?


A. “Any time I am in a situation where I am just not comfortable, I am uneasy, but that doesn’t mean I won’t go on with it, just like the speech. And that I won’t be good at it, but there are just some things I would prefer not to do!”


Q. Success doesn’t equal happiness, yet you seem so hopeful and modest?


A. “I am always hopeful as a person, I have been since I was little…I really want things to be good. As I mention in the book, I wake up everyday expecting it to be good, and if it is not, then I try to set about changing it before I go to sleep at night.”


Q. Would you describe yourself as religious or spiritual?


A. “Just spiritual, I am not religious. Although I grew up in a very religious family, but…I am no fanatic by any stretch of the word, and I am no angel, believe me. I wrote a song called ‘The Seeker’ many, many years ago, and it says ‘I am a seeker, just a poor sinful creature, there is no one weaker than I am.’


“People say, ‘What do you regret?’ I say, ‘I can’t say that I regret anything because at the time I was doing it, whatever it was, it seemed to be the thing to be doing at the time.’


“I have a good friend base, I have a good husband. So I have a lot of things and people who help me and guide me. I have never had to go to a psychiatrist, but I would if I thought that I needed to.


Q. But we are in New York, Dolly! No psychiatrist?


A. “Well yes (laughs), I guess not. But I do that in my songs, I write my feelings out and then I have such a strong faith and then I have such good friends. I am very close to several of my sisters, and we just talk about everything and anything….And my best friend Judy, there is nothing I can’t tell her, even if it is the awful-est thing in the world.”


Q. You recently had to deny gay rumors. Who is your greatest love?


“My husband is my greatest love, I have been with him 48 years…He is my best buddy.”


Q. Why do you think people always wonder about him?


A. “They don’t think he really exists! When I was doing my show, we were thinking about having a different guy knock on the door every night, as my husband, and then one night he would be a midget, and one night he would be a black man, and one night he would be like a boxer or a wrestler, all these different things that people imagine what my husband looks like.”


Q. You say that looking so artificial works for you, as it lets you prove how real you are. Why all the plastic surgery?


A. “Because I need it. Why does anybody get it?”


Q. Why do you think you need it?


A. “Because I am in show business. I am not a natural beauty. And I am on camera all the time. And I just always see, like if I need – Oh take one of my chins off, at least! – Or whatever. I mean, I don’t go to extremes with it. I just do little bits and pieces, just to try and keep things touched up, just tweaking.”


(Reporting by Christine Kearney, editing by Jill Serjeant and Carol Bishopric)


Music News Headlines – Yahoo! News


Read More..

Little apparent progress in U.S. “fiscal cliff” talks












HATFIELD, Pennsylvania (Reuters) – With barely a month left before the “fiscal cliff,” Republicans and Democrats remained far apart on Friday in talks to avoid the across-the-board tax hikes and spending cuts that threaten to throw the country back into recession.


While President Barack Obama visited a Pennsylvania toy factory to muster public support for tax hikes on the rich, portraying Republicans as scrooges at Christmas time, his primary adversary in negotiations, Republican House Speaker John Boehner, continued to describe the situation as a stalemate.












The argument will resume on Sunday when Boehner, along with Obama’s Treasury secretary, Timothy Geithner, and others, take to weekly political talk shows and pick up further steam next week with a possible confrontation in the House of Representatives between Democrats and Republicans over the timing of a vote on tax hikes.


Lawmakers are nervously eyeing the markets as the deadline approaches, with gyrations likely to intensify pressure to bring the drama to a close.


The markets, in turn watching the politicians, fell as Boehner spoke, but recovered afterward. It was a repeat of the pattern earlier in the week when the speaker offered a similarly gloomy assessment.


The latest round of high-stakes gamesmanship focuses on whether to extend the temporary tax cuts that originated under former President George W. Bush beyond their December 31 expiration date for all taxpayers, as Republicans want, or just for those with incomes under $ 250,000, as Obama and his fellow Democrats want.


After five days of increasingly confrontational exchanges, the work week drew to a close with an announcement by Democrats of a long-shot effort next week to force an early tax-hike vote in the Republican-controlled U.S. House to break the deadlock.


MEDICARE, SOCIAL SECURITY


House Minority Leader Nancy Pelosi said she would undertake the rarely successful effort unless Boehner agreed by Tuesday to bring a bill to the floor allowing taxes on the wealthy to rise, something Boehner is highly unlikely to do until he is ready.


“The clock is ticking,” Pelosi said at a news conference. “The year is ending. It’s really important with tax legislation for it to happen now. We’re calling upon the Republican leadership in the House to bring this legislation to the floor next week.”


While Boehner offered no immediate response to Pelosi’s threat, Cathy McMorris Rodgers of Washington state, recently elected by Republicans to be the fourth-ranking party leader in the House, told Fox News in an interview not to expect any tax vote next week.


Amid the competing statements from the two sides, there were some actual, albeit modest, signs of potential movement.


Senate Minority Leader Mitch McConnell threw Republican proposals into the mix for reform of Medicare, the government health insurance program for seniors, which has exploded in cost in recent years and is a major contributor to the country’s soaring deficit.


McConnell of Kentucky told the Wall Street Journal in an interview that Republicans would agree to more revenue – although not higher tax rates – if Democrats agreed to such changes as raising the eligibility age for Medicare and slowing cost-of-living increases in the Social Security retirement program.


Rodgers, in her Fox News interview, declined to completely rule out a much-discussed potential compromise in which Republicans would accept some increase in tax rates on the rich, but not to the level desired by Obama.


‘A LUMP OF COAL’


More House Republicans – although still just a handful -expressed flexibility beyond that of their party leaders about considering an increase in tax rates for the wealthy, as long as they are accompanied by significant spending cuts.


Most House Republicans refuse to back higher rates, preferring to raise revenue through tax reform.


Obama, speaking in Pennsylvania, said he was encouraged by the shifting views of some Republicans, and urged House approval of a bill that has already cleared the Democratic-controlled Senate that would lock in the middle-class tax cuts and raise the rates for the rich.


“If we can get a few House Republicans on board, we can pass the bill. … I’m ready to sign it,” Obama said.


But neither he nor the other principals in the debate budged from their basic positions.


Instead, Obama turned up the pressure on Friday, hitting the road to drum up support for his drive to raise taxes on the wealthy and warning Americans that Republicans were offering them “a lump of coal” for Christmas.


In a visit to the Pennsylvania toy factory, Obama portrayed congressional Republicans as scrooges who risked sending the country over the fiscal cliff rather than strike a deal to avert the tax increases and spending cuts that begin in January unless Congress intervenes.


“We already all agree, we say, on making sure middle-class taxes don’t go up. So let’s get that done. Let’s go ahead and take the fear out for the vast majority of American families so they don’t have to worry,” Obama said at the Rodon Group factory, which makes K’NEX building toy systems as well as Tinkertoys and consumer products.


In Washington, Boehner said Obama’s plan to raise taxes on the rich was the wrong approach.


“There is a stalemate. Let’s not kid ourselves,” the Ohio Republican said. “Right now we are almost nowhere.”


(Additional reporting by Richard Cowan, Thomas Ferraro, Kim Dixon, Edward Krudy; Writing by John Whitesides; Editing by Fred Barbash and Todd Eastham)


Seniors/Aging News Headlines – Yahoo! News


Read More..

Lawmakers unveil new round of Iran sanctions












WASHINGTON (AP) — Senators pressed ahead Thursday on a new set of tough sanctions against Iran‘s domestic industries as it seeks to cripple the Islamic republic’s economy and thwart its nuclear ambitions.


Sens. Bob Menendez, D-N.J., and Mark Kirk, R-Ill., unveiled a package of penalties that would designate Iran‘s energy, port, shipping and ship-building sectors as entities of proliferation and sanction transactions with these areas. The legislation also would penalize individuals selling or supplying commodities such as graphite, aluminum and steel to Iran.












The punitive measures build on the sanctions on Tehran’s oil industry that the two lawmakers have shepherded through Congress in the past year.


“Yes, our sanctions are having a significant impact, but Iran continues their work to develop nuclear weapons,” Menendez said in a statement, adding that with the new penalties, “We will send a message to Iran that they can’t just try to wait us out.”


Kirk said the measure “will greatly increase the economic pressure on the Iranian regime and send a clear message of support to the Iranian people.”


The sanctions are contained in an amendment the two lawmakers hope to add to a far-reaching defense policy bill that the Senate was debating and could wrap up by week’s end. Congress has overwhelmingly backed previous efforts by Menendez and Kirk.


The legislation also would designate the Islamic Republic of Iran Broadcasting and its president as human rights abusers for broadcasting forced televised confessions and show trials.


The United States and European Union have imposed tough sanctions on Iran that have weakened its economy. But Tehran has found ways to bypass the penalties, such as Turkey’s use of gold to pay for Iranian natural gas imports.


The Menendez-Kirk measure would allow the president to impose sanctions in cases of the sale or transfer of precious metals, targeting efforts by Iran to circumvent the penalties.


Iran maintains that its nuclear program is for peaceful purposes only.


Mark Dubowitz, a sanctions expert and executive director of the Foundation for Defense of Democracies, said there is strong bipartisan support for intense sanctions, with the goal of pushing the Iranian economy to the brink of economic collapse.


Only then “can the central thesis of the administration’s sanctions policy be fairly tested: That crippling economic pressure will break the nuclear will of Iran’s supreme leader and his Revolutionary Guards and lead them to meet their obligations under international law,” Dubowitz said.


The president has 90 days from the legislation’s enactment to act. The bill does include the authority to waive the sanctions based on national security.


Economy News Headlines – Yahoo! News


Read More..

Taking a page from Louis C.K., Chill launches online store for films, comedy specials












NEW YORK (TheWrap.com) – Chill, a social video platform with close to 20 million users, has launched Chill Direct, a new store for creatives like Maria Bamford and Michael Urie to sell their movies, specials and documentaries directly to fans.


Comedian Louis C.K. sent shockwaves through the entertainment industry this summer by selling a comedy special directly online rather than making a distribution deal with a television network or online service. He made millions, and various others have followed suit, including Jim Gaffigan and Aziz Ansari.












Chill sees an opportunity to enter this emerging market, empowering artists and offering them an opportunity to control the distribution and monetization of their ongoing projects.


“The community gives filmmakers and comedians the ability to distribute premium video directly to fans,” CEO Brian Norgard told TheWrap. “The common analogy is to Louis C.K. and his ‘Live at Beacon Theater.‘ That was a seminal moment in the entertainment business and a lot of things now allow direct-to-fan to become a viable model.”


Artists who choose to sell through Chill also can sell their videos elsewhere, but Chill Direct launches with eight videos exclusive to the site. That slate includes “Maria Bamford: the Special Special Special!,” an hour-long comedy special starring Bamford, “Thank You For Judging,” a documentary from “Ugly Betty” actor Urie about high school speech and debate and “Unknown Sender,” a suspense series from “48 Hrs” and “Die Hard” scribe Stephen E. de Souza.


Starting Thursday, any artist can create a page for a project and has complete creative control over the page, from information about the project to trailers to pricing. Meanwhile, Chill handles distribution across devices as well as payments.


Artists retain rights to their own intellectual property while Chill takes a 30 percent cut of any transaction.


“What Chill does is let anyone build out socially integrated marketing pages – we call them story pages – beautiful, high-resolution tantalizing receptacles of premium videos,” Norgard said.


Chill, funded by WME and Kleiner Perkins Caulfield & Byers and others, has previously enabled frictionless uploading, consumption and sharing of the web’s most popular videos. This maintains a social layer, allowing for commenting and offering bundles that combine the video with other perks like merchandise or meeting the creator.


“The land of premium video is still a very closed marketplace,” Norgard said. “If you have tremendous business development skills or connections to sell a film to Netflix or Hulu, you’re lucky. The ad-supported model doesn’t fit every type of content. There is plenty of stuff out there like documentary films and comedy specials where creators are between a rock and a hard place and wan to get it out there, distribute it, own the right but not put it on a free streaming site like YouTube.”


Selling direct to fans also offers a new revenue stream to a company that until now was mostly luring people a few times a day for videos.


Internet News Headlines – Yahoo! News


Read More..

Taking a page from Louis C.K., Chill launches online store for films, comedy specials












NEW YORK (TheWrap.com) – Chill, a social video platform with close to 20 million users, has launched Chill Direct, a new store for creatives like Maria Bamford and Michael Urie to sell their movies, specials and documentaries directly to fans.


Comedian Louis C.K. sent shockwaves through the entertainment industry this summer by selling a comedy special directly online rather than making a distribution deal with a television network or online service. He made millions, and various others have followed suit, including Jim Gaffigan and Aziz Ansari.












Chill sees an opportunity to enter this emerging market, empowering artists and offering them an opportunity to control the distribution and monetization of their ongoing projects.


“The community gives filmmakers and comedians the ability to distribute premium video directly to fans,” CEO Brian Norgard told TheWrap. “The common analogy is to Louis C.K. and his ‘Live at Beacon Theater.‘ That was a seminal moment in the entertainment business and a lot of things now allow direct-to-fan to become a viable model.”


Artists who choose to sell through Chill also can sell their videos elsewhere, but Chill Direct launches with eight videos exclusive to the site. That slate includes “Maria Bamford: the Special Special Special!,” an hour-long comedy special starring Bamford, “Thank You For Judging,” a documentary from “Ugly Betty” actor Urie about high school speech and debate and “Unknown Sender,” a suspense series from “48 Hrs” and “Die Hard” scribe Stephen E. de Souza.


Starting Thursday, any artist can create a page for a project and has complete creative control over the page, from information about the project to trailers to pricing. Meanwhile, Chill handles distribution across devices as well as payments.


Artists retain rights to their own intellectual property while Chill takes a 30 percent cut of any transaction.


“What Chill does is let anyone build out socially integrated marketing pages – we call them story pages – beautiful, high-resolution tantalizing receptacles of premium videos,” Norgard said.


Chill, funded by WME and Kleiner Perkins Caulfield & Byers and others, has previously enabled frictionless uploading, consumption and sharing of the web’s most popular videos. This maintains a social layer, allowing for commenting and offering bundles that combine the video with other perks like merchandise or meeting the creator.


“The land of premium video is still a very closed marketplace,” Norgard said. “If you have tremendous business development skills or connections to sell a film to Netflix or Hulu, you’re lucky. The ad-supported model doesn’t fit every type of content. There is plenty of stuff out there like documentary films and comedy specials where creators are between a rock and a hard place and wan to get it out there, distribute it, own the right but not put it on a free streaming site like YouTube.”


Selling direct to fans also offers a new revenue stream to a company that until now was mostly luring people a few times a day for videos.


Internet News Headlines – Yahoo! News


Read More..

Adkins explains Confederate flag earpiece












NEW YORK (AP) — Trace Adkins wore an earpiece decorated like the Confederate flag when he performed for the Rockefeller Center Christmas Tree Lighting but says he meant no offense by it.


Adkins appeared with the earpiece on a nationally televised special for the lighting on Wednesday. Some regard the flag as a racist symbol and criticized Adkins in Twitter postings.












But in a statement released Thursday, the Louisiana native called himself a proud American who objects to any oppression and says the flag represents his Southern heritage.


He noted he’s a descendant of Confederate soldiers and says he did not intend offense by wearing it.


Adkins — on a USO tour in Japan — also called for the preservation of America’s battlefields and an “honest conversation about the country’s history.”


___


Online:


http://www.traceadkins.com


Entertainment News Headlines – Yahoo! News


Read More..

Man Wins Suit Over Sex Addiction












A French man who claimed a Parkinson’s drug turned him into a gambling and gay sex addict has been awarded 197,000 euros in damages, the French Press Agency reported.


Didier Jambart, 52, of Nantes, France, sued the pharmaceutical giant GlaxoSmithKline in 2011, claiming the drug, Requip, caused him to lose 82,000 euros gambling on the Internet. He said he also became addicted to gay sex and risky sexual encounters. He said he was raped after starting the drug in 2003 and attempted suicide eight times.












“It’s a great day,” Jambart, who was accompanied by his wife during the emotional ruling, told the French Press Agency. “It’s been a seven-year battle with our limited means for recognition of the fact that GSK lied to us and shattered our lives.”


Parkinson’s disease destroys neurons deep within the brain that release the “feel-good” neurotransmitter dopamine. Requip belongs to a class of drugs called dopamine agonists that relieve Parkinson’s symptoms — such as shaking, stiffness, slowness and trouble balancing — by activating dopamine receptors. But the drugs have side effects that, while rare, can be serious.


“There are plenty of reports of people developing side effects from Parkinson’s drugs, such as hypersexuality, gambling and excessive shopping,” Dr. David Standaert of the Center for Neurodegeneration and Experimental Therapeutics at the University of Alabama at Birmingham told ABC News when the lawsuit was filed. “It’s uncommon, but very dramatic when it happens.”


Up to 17 percent of people with Parkinson’s disease who take dopamine agonists exhibit an impulse control disorder, according to a 2010 study published in the Archives of Neurology.


“It can be devastating for those people,” said Dr. Mark Stacy, the Duke University neurologist who first linked the drugs to gambling in 2000. “And I think that because of the embarrassing nature of the complaint, it’s a bit amplified.”


Jambart is not the first Parkinson’s patient to sue a drug maker over these symptoms. In 2008, a court in Minneapolis awarded Gary Charbonneau $ 8.2 million in a suit against the makers of Mirapex, Pfizer and Boehringer Ingelheim. And in 2010, more than 100 patients in Australia sued Pfizer and Aspen Pharmacare — the makers of Cabaser and Permax respectively — over sex and gambling addictions.


“Dopamine is a reward signal,” Standaert said, adding that certain illicit drugs, such as cocaine and methamphetamine, act on dopamine receptors. Standaert said he has met patients who have gambled or shopped away hundreds of thousands of dollars. “In certain individuals who seem sensitive to this, these dopamine agonists really make them overcome their normal inhibitions… They lose their moral compass.”


Compulsive behaviors such as pathological gambling and hypersexuality are now listed as side effects on the drugs’ package inserts. But Jambart claimed this wasn’t the case when he starting taking Requip in 2003. By the time he stopped taking Requip in 2005, he had already been demoted at work and suffered psychological trauma because of his addictions, his lawyers told the French Press Agency.


In the United States, GSK added warnings about unusual behaviors to the Requip package insert in July 2005 and expanded them in 2006, company spokeswoman Mary Anne Rhyne told ABC News at the time the lawsuit was filed.


“We urge patients to talk to their doctor before deciding to stop or start taking any medicine,” she said. “Anyone receiving treatment with dopamine agonists who notices unusual behaviors, such as new or increased gambling urges, increased sexual urges or other intense urges should talk to their doctor.”


Standaert stressed that while the drug’s side effects are “colorful and serious,” they’re very rare.


“These are very useful medications,” he said. “People shouldn’t be frightened, they should just know about the risks.”


Also Read
Seniors/Aging News Headlines – Yahoo! News


Read More..

Wall Street jumps in another “fiscal cliff” swing












NEW YORK (Reuters) – Stocks rallied on Wednesday after comments from House Speaker John Boehner, the top Republican in Congress, on a possible compromise to avoid the “fiscal cliff” turned the market around.


The S&P 500 rebounded from a 1 percent decline, gaining more than 20 points from its low after Boehner, an Ohio Republican, said he was optimistic that a budget deal to avoid big spending cuts and tax hikes can be worked out. President Barack Obama added to the good feelings, saying he hoped to get a deal done in the next four weeks.












Whether or not those remarks reflect the reality of negotiations is another story.


“The fiscal cliff is dominating the discussion, and short term, we’re a little bit too optimistic on it being fixed right away,” said John Manley, chief equity strategist for Wells Fargo Advantage Funds in New York.


In expectation of higher dividend tax rates in 2013, companies have been shifting dividends or announcing special payouts to shareholders.


Costco Wholesale Corp , up 6.3 percent at $ 102.58, was the S&P 500′s biggest percentage gainer after it became the latest company to announce a special dividend.


The market’s move marked the second straight day where a leading legislator dictated trading action. On Tuesday, stocks fell on pessimistic remarks from Senate Majority Leader Harry Reid, a Democrat from Nevada.


The market has been swinging for weeks now on headlines from Washington, with Wednesday’s gyrations once again highlighting the importance that Wall Street is giving to finding a solution to avoid the series of tax increases and spending cuts that could push the U.S. economy into recession.


The Dow Jones industrial average <.DJI> rose 106.98 points, or 0.83 percent, to 12,985.11 at the close. The S&P 500 <.SPX> gained 10.99 points, or 0.79 percent, to 1,409.93. The Nasdaq Composite <.IXIC> added 23.99 points, or 0.81 percent, to close at 2,991.78.


The S&P 500 bounced off a strong support area near 1,385 that includes both its 200- and 14-day moving averages. It closed above 1,400 for the third session in four – an optimistic sign for stock bulls.


Knight Capital Group Inc shares jumped 15.2 percent to $ 3.42 on news that Getco Holding proposed a $ 1.4 billion merger with Knight, while Virtu Financial offered to buy Knight for at least $ 1.1 billion.


Apparel retailer Express Inc rose 8.9 percent to $ 14.15 after it forecast strong earnings for the current quarter as lower prices and easy-to-understand discounts led to robust Black Friday sales.


The S&P retail index <.SPXRT> gained 1.4 percent.


Green Mountain Coffee Roasters surged 27.3 percent to $ 36.86 a day after it forecast quarterly and full-year earnings well ahead of analysts’ expectations.


Nearly 6.1 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average so far this year of about 6.48 billion shares.


On the NYSE, roughly seven stocks rose for every three that fell, and on Nasdaq, five issues rose for every three that fell.


(Reporting by Rodrigo Campos; Editing by Jan Paschal)


Business News Headlines – Yahoo! News


Read More..