M&A deals lift Wall Street shares nearer a record high

NEW YORK (Reuters) - U.S. stocks rose on Tuesday as this year's ongoing surge in merger activity suggested investors were still finding value in the market even as indexes closed in on all-time highs.

Office Depot Inc surged 9.4 percent to $5.02 after a person familiar with the matter said the No. 2 U.S. office supply retailer was in advanced talks to merge with smaller rival OfficeMax Inc , which jumped more than 20 percent.

News of the potential move came just days after Berkshire Hathaway and a partner agreed to acquire H.J. Heinz Co for $23 billion, and following a revised $20 billion takeover of Mexican brewer Grupo Modelo by Anheuser-Busch InBev .

Deal activity has helped equities resist a pullback as investors use dips in stocks as buying opportunities. The S&P is up about 7 percent so far in 2013 and has climbed for the past seven weeks in its longest weekly winning streak since January 2011, though most of the weekly gains have been slim.

The Dow industrials closed 0.9 percent away from their record high while S&P 500 was 2.2 percent off its peak.

"Deals are good for the market," said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago. "The fact that they're being done is a positive."

More than $158 billion in deals has been announced so far in 2013, more than double the activity in the same period last year and accounting for 57 percent of global deal volumes, according to Thomson Reuters Deals Intelligence.

The Dow Jones industrial average <.dji> gained 53.91 points, or 0.39 percent, to 14,035.67. The Standard & Poor's 500 Index <.spx> gained 11.15 points, or 0.73 percent, to 1,530.94. The Nasdaq Composite Index <.ixic> gained 21.56 points, or 0.68 percent, to 3,213.59.

Other stocks in the office supplies sector also rose. Larger rival Staples Inc shot up 13.1 percent to $14.65 as the best performer on the S&P 500.

"Equity investors have to be encouraged by M&A since, if the number crunchers are offering large premiums, that shows how much value is still in the market," said Mike Gibbs, co-head of the equity advisory group at Raymond James in Memphis, Tennessee.

On the downside, health insurance stocks tumbled, led by a 6.4 percent drop in Humana Inc to $73.01. The company said the government's proposed 2014 payment rates for Medicare Advantage participants were lower than expected and would hurt its profit outlook.

UnitedHealth Group lost 1.2 percent to $56.66. The Morgan Stanley healthcare payor index <.hmo> dropped 1.2 percent.

Wall Street's strong start to the year was fueled by better-than-expected corporate earnings, as well as a compromise in Washington that temporarily averted automatic spending cuts and tax hikes that are predicted to damage the economy.

The compromise on across-the-board spending cuts postponed the matter until March 1, at which point the cuts take effect. Ahead of the debate over the cuts, known as sequestration, further gains for stocks may be difficult to come by.

Some investors say the debate could be the catalyst for a long anticipated sell-off after the market's recent strong run.

Carter Worth, a technical analyst at Oppenheimer, pointed to the "especially complacent action of the past six weeks," noting that, as of Friday, stocks have gone 33 sessions without a dip of more than 1.5 percent.

"We would be selling aggressively into the market's current strength," he said in a research note.

Economic data showed the NAHB/Wells Fargo Housing Market index unexpectedly edged down to 46 in February from 47 in the prior month as builders faced higher material costs.

According to the Thomson Reuters data through Monday morning, of the 391 companies in the S&P 500 that have reported results, 70.1 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.

Fourth-quarter earnings for S&P 500 companies have risen 5.6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

Express Scripts rose 2.5 percent to $56.98 after the pharmacy benefits manager posted fourth-quarter earnings.

About two stocks rose for everyone that fell on the New York Stock Exchange and Nasdaq. About 6.48 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, in line with the daily average so far this year.

(Additional reporting by Chuck Mikolajczak Ryan Vlastelica and Rodrigo Campos; Editing by Chizu Nomiyama, Kenneth Barry and Nick Zieminski)

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Oslo Journal: In Norway, TV Program on Firewood Elicits Passions

Kyrre Lien for The New York Times

Lars Mytting at his home in Elverum, Norway. His best-selling book, “Solid Wood: All About Chopping, Drying and Stacking Wood — and the Soul of Wood-Burning” inspired a TV program about cutting, stacking and burning firewood.

OSLO — The TV program, on the topic of firewood, consisted mostly of people in parkas chatting and chopping in the woods and then eight hours of a fire burning in a fireplace. Yet no sooner had it begun, on prime time on Friday night, than the angry responses came pouring in.

“We received about 60 text messages from people complaining about the stacking in the program,” said Lars Mytting, whose best-selling book “Solid Wood: All About Chopping, Drying and Stacking Wood — and the Soul of Wood-Burning” inspired the broadcast. “Fifty percent complained that the bark was facing up, and the rest complained that the bark was facing down.”

He explained, “One thing that really divides Norway is bark.”

One thing that does not divide Norway, apparently, is its love of discussing Norwegian wood. Nearly a million people, or 20 percent of the population, tuned in at some point to the program, which was shown on the state broadcaster, NRK.

In a country where 1.2 million households have fireplaces or wood stoves, said Rune Moeklebust, NRK’s head of programs in the west coast city of Bergen, the subject naturally lends itself to television.

“My first thought was, ‘Well, why not make a TV series about firewood?’” Mr. Moeklebust said in an interview. “And that eventually cut down to a 12-hour show, with four hours of ordinary produced television, and then eight hours of showing a fireplace live.”

There is no question that it is a popular topic. “Solid Wood” spent more than a year on the nonfiction best-seller list in Norway. Sales so far have exceeded 150,000 copies — the equivalent, as a percentage of the population, to 9.5 million in the United States. — not far below the figures for E. L. James’s Norwegian hit “Fifty Shades Fanget,” proof that thrills come in many forms.

“National Firewood Night,” as Friday’s program was called, opened with the host, Rebecca Nedregotten Strand, promising to “try to get to the core of Norwegian firewood culture — because firewood is the foundation of our lives.” Various people discussed its historical and personal significance. “We’ll be sawing, we’ll be splitting, we’ll be stacking and we’ll be burning,” Ms. Nedregotten Strand said.

But the real excitement came when the action moved, four hours later, to a fireplace in a Bergen farmhouse.

Perhaps you have seen a log fire burning on television before. But it would be very foolish to confuse Norway’s eight-hour fireplace extravaganza on Friday with the Yule log broadcast in the United States at Christmastime.

While the Yule log fire plays on a constant repeating loop, the fire on “National Firewood Night” burned all night long, in suspensefully unscripted configurations. Fresh wood was added through the hours by an NRK photographer named Ingrid Tangstad Hatlevoll, aided by viewers who sent advice via Facebook on where exactly to place it.

For most of the time, the only sound came from the fire. Ms. Hatlevoll’s face never appeared on screen, but occasionally her hands could be seen putting logs in the fireplace, or cooking sausages and marshmallows on sticks.

“I couldn’t go to bed because I was so excited,” a viewer called niesa36 said on the Dagbladet newspaper Web site. “When will they add new logs? Just before I managed to tear myself away, they must have opened the flue a little, because just then the flames shot a little higher.

“I’m not being ironic,” the viewer continued. “For some reason, this broadcast was very calming and very exciting at the same time.”

To be fair, the program was not universally acclaimed. On Twitter, a viewer named Andre Ulveseter said: “Went to throw a log on the fire, got mixed up, and smashed it right into the TV.”

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Sony slashes PS Vita pricing in Japan ahead of PlayStation 4 unveiling

As Sony’s (SNE) struggles continue in the portable gaming market, the consumer electronics giant announced on Monday that it will slash the price of its PlayStation Vita console in Japan. Beginning late next week, both the Wi-Fi-only and 3G-connected versions of the Vita will drop to 19,980 yen including taxes, or $ 215.42 USD at Monday’s exchange rate. The Wi-Fi model currently costs 24,980 yen ($ 269.33 USD) and the 3G model is priced at 29,980 yen ($ 323.24 USD) until February 28th when the price drops take effect. Sony hasn’t said anything about cutting the cost of the portable console outside of Japan, but it may make some announcements during its PlayStation 4 event on Wednesday. The company’s full press release follows below.

PlayStation ® Vita price revision
February 28, 2013 (Thursday) retail price of 19,980 yen (tax included)

[More from BGR: BlackBerry 10 browser smokes iOS 6 and Windows Phone 8 in comparison test [video]]

February 28, 2013 (Thursday), ¥ 29,980 traditional Sony Computer Entertainment Japan ※ 1 (SCEJ) is, 3G/Wi-Fi model (including tax, the retail price of the PlayStation ® Vita (PS Vita below) to 19,980 yen including tax) (, Wi-Fi model will be revised (including tax) from 19,980 yen (including tax) from 24,980 yen).

By addition to the GPU and the CPU, high-performance display and a beautiful that, with such dual analog stick and the multi-touch pad on the rear panel, PS Vita, which was launched in December 2011, to deliver an immersive experience of the ultimate I will continue to provide the gaming experience. In addition to the expansion of an attractive color variations such as sapphire Cosmic Red and Blue, by the system of free software updates, such as service response to PlayStation ® Plus ※ 2 software and standard flat-rate “PlayStation” first, PS Vita users meet the needs of everyone in, I’m constantly evolving. In addition to the methods existing Wi-Fi, by which supports access to the 3G network a new, PS Vita has realized the connection of new and everyone other users in everyday life. To enjoy the PS Vita to everyone more users, we will begin offering at a price of ¥ 19,980 revision both models. As a result, the user’s everyone, you can feel free to choose the model that is appropriate for the game play style of your choice is available.

In addition, we received strong support from companies like software maker, dedicated software is PS Vita PS Vita interactive content that can be enjoyed by more than 100, you can download from the PlayStation ® Store has reached more than 1,500 ※ 3 at the end of January 2013 You had to. Our company and our future than software manufacturers, “Den 討鬼” (SEGA) “Phantasy Star Online 2″, “SOUL SACRIFICE (Soul Sacrifice)” (TECMO KOEI GAMES CO., LTD.) Sony Corporation (- from hunting action game to enjoy cooperative play, such as Computer Entertainment), the player taking the communication meeting, “Kagura 閃乱 SHINOVI VERSUS – proof of the girls” – “Oboro Muramasa”, Marvelous AQL), ​​”Tales Inc. ( Obuhatsu Pirate Musou 2 R “,” One Piece Baseball Spirits 2013 “(NAMCO BANDAI Games Inc.)” “to work, such as the long-awaited game fans (Konami Digital Entertainment Co., Ltd.), is expected to be released one after another title is scheduled.

(Thursday), the set body and PS Vita special edition with the motif of the peripherals, the same title, and a variety of breaking down the common sense of the multi-Hunting Action “(Soul Sacrifice) SOUL SACRIFICE” March 7, 2013 change (including tax) 24,980 yen, will be released in limited quantities from (tax included) for a suggested retail price of 29,980 yen originally planned, did the “PlayStation ® Vita SOUL SACRIFICE PREMIUM EDITION”.

We will carry out a variety of campaigns to suit this price revision, to everyone in the user’s enjoy PS Vita. Please refer to the following for the campaign details.

So that you can enjoy the world of entertainment unique PS Vita to more customers in the future, SCEJ will continue to strongly promote and expand further spread of the PS Vita platform.

Gaming News Headlines – Yahoo! News

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Mindy McCready: Under Police Scrutiny at Time of Suicide?

By Steve Helling and Mike Fleeman

02/18/2013 at 06:00 PM EST

Mindy McCready and David Wilson

Courtesy Mindy McCready

When Mindy McCready talked to police in recent weeks, her account of how her boyfriend came to be found with a fatal gunshot wound to the head concerned police, a law enforcement source tells PEOPLE.

"At first, she said she hadn't heard the gunshot because the TV was too loud. Then she said she had heard the gunshot," the source says. "So obviously there were a lot of questions, and the Sheriff was asking for clarification."

But before investigators could re-interview her, the long-troubled country singer also would die under eerily similar circumstances, her body discovered at the same Heber Springs, Ark., house just feet away from where David Wilson died.

McCready's death was blamed on what "appears to be a single self-inflicted gunshot wound," the Cleburne County Sheriff's Office said in a statement.

This differed from how the sheriff characterized Wilson's case. His cause and manner of death still have not been established by the coroner. It was McCready's publicist, and not a law enforcement official, who announced that Wilson had died of a self-inflicted gunshot wound.

After Wilson's death, McCready, 37, spoke to investigators three times, but they didn't feel as if they were through with her.

"At no point did [police] tell her she was a suspect, and she wasn't officially one," says the source. "But she knew that some of her answers didn't stand up to questioning. She was very cooperative, but she just wasn't making a lot of sense."

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Hip implants a bit more likely to fail in women

CHICAGO (AP) — Hip replacements are slightly more likely to fail in women than in men, according to one of the largest studies of its kind in U.S. patients. The risk of the implants failing is low, but women were 29 percent more likely than men to need a repeat surgery within the first three years.

The message for women considering hip replacement surgery remains unclear. It's not known which models of hip implants perform best in women, even though women make up the majority of the more than 400,000 Americans who have full or partial hip replacements each year to ease the pain and loss of mobility caused by arthritis or injuries.

"This is the first step in what has to be a much longer-term research strategy to figure out why women have worse experiences," said Diana Zuckerman, president of the nonprofit National Research Center for Women & Families. "Research in this area could save billions of dollars" and prevent patients from experiencing the pain and inconvenience of surgeries to fix hip implants that go wrong.

Researchers looked at more than 35,000 surgeries at 46 hospitals in the Kaiser Permanente health system. The research, published Monday in JAMA Internal Medicine, was funded by the U.S. Food and Drug Administration.

After an average of three years, 2.3 percent of the women and 1.9 percent of the men had undergone revision surgery to fix a problem with the original hip replacement. Problems included instability, infection, broken bones and loosening.

"There is an increased risk of failure in women compared to men," said lead author Maria Inacio, an epidemiologist at Southern California Permanente Medical Group in San Diego. "This is still a very small number of failures."

Women tend to have smaller joints and bones than men, and so they tend to need smaller artificial hips. Devices with smaller femoral heads — the ball-shaped part of the ball-and-socket joint in an artificial hip — are more likely to dislocate and require a surgical repair.

That explained some, but not all, of the difference between women and men in the study. It's not clear what else may have contributed to the gap. Co-author Dr. Monti Khatod, an orthopedic surgeon in Los Angeles, speculated that one factor may be a greater loss of bone density in women.

The failure of metal-on-metal hips was almost twice as high for women than in men. The once-popular models were promoted by manufacturers as being more durable than standard plastic or ceramic joints, but several high-profile recalls have led to a decrease in their use in recent years.

"Don't be fooled by hype about a new hip product," said Zuckerman, who wrote an accompanying commentary in the medical journal. "I would not choose the latest, greatest hip implant if I were a woman patient. ... At least if it's been for sale for a few years, there's more evidence for how well it's working."

___

Online:

Journal: http://www.jamainternalmed.com

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Yen firmer but near lows, Asian shares capped

TOKYO (Reuters) - The yen remained near recent lows on Tuesday, as attention turned to the appointment of a new Bank of Japan governor.

Regional share markets held to tight ranges as the absence of catalysts and a holiday in the U.S. overnight capped demand.

The yen, which has dropped 20 percent against the dollar since mid-November, fell further at the start of the week after financial leaders from the G20 promised not to devalue their currencies to boost exports and avoided singling out Japan for any direct criticism.

The choice of the next BOJ governor and two deputies has drawn market attention as a gauge to how strongly Prime Minister Shinzo Abe is committed to reflating the economy. The G20's message was that as long as Japan pursues aggressive monetary easing to achieve that goal, a weaker yen as a result of such domestic monetary policy will be tolerated, analysts say.

"But that means that some other economy's monetary conditions have been tightened," said Barclays Capital in a note.

"Japan hasn't even changed its policy stance thus far, and the effect of expectations of a looser setting have led to limited moves in domestic interest rates, but the sell-off of the JPY has been marked and has clearly caused unease in other economies."

Market reaction was muted to the release of the minutes of the BOJ's January 21-22 meeting, when the bank set a 2 percent inflation target and pledged to an open-ended quantitative easing from 2014, but the yen was bought when Finance Minister Taro Aso told reporters Japan has no plans to buy foreign currency bonds as part of monetary easing, a trader said.

The dollar was down 0.2 percent to 93.75 yen, but remained near its highest since May 2010 of 94.465 hit on February 11. The euro also eased 0.3 percent to 125.05 yen, below its peak since April 2010 of 127.71 yen touched on February 6.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was nearly flat.

The Nikkei stock average <.n225> opened down 0.6 percent, after closing up 2.1 percent on Monday to approach its highest level since September 2008 of 11,498.42 tapped on February 6. <.t/>

Australian shares <.axjo> inched down 0.1 percent on the back of weakness in metals prices, with investors focusing on local corporate earnings for direction after a three-month rally that has taken the market to 4-1/2 year highs.

Seoul shares <.ks11> opened little changed, and were expected to struggle to find momentum on worries about the weak yen.

"The market has been taking a breather recently after staging a recovery earlier this month," said Lee Jae-man, an analyst at Tong Yang Securities in Seoul. "The weaker yen has been priced in to some extent, and the pace of its fall is expected to slow down."

Disappointing earnings pushed European shares lower on Monday for a third straight session of losses while U.S. markets were closed for the President's Day holiday.

The euro was steady around $1.3348. The currency eased slightly on Monday after European Central Bank President Mario Draghi said in a speech at the European Parliament that "the exchange rate is not a policy target but is important for growth and price stability" and that its rise is "a risk."

The risk of an inconclusive outcome in Italy's election this weekend added to investor concerns.

Sterling hovered near a seven-month low against the dollar touched on Monday after a key policymaker made comments about the need for further weakness, while recent poor data has spurred worries of another British recession.

U.S. crude fell 0.4 percent to $95.47 a barrel.

(Additional reporting by Hyunjoo Jin and Miyoung Kim in Seoul; Editing by Shri Navaratnam)

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Seeking Direction in Yemen

Yemenis gathered in Change Square in the capital, Sana, this month. Two years after the start of the country’s uprising, the square is almost empty of protesters. 

Yemen, having pulled back from the brink of war in 2011, is slowly embarking on a national dialogue aimed at reconciling its rancorous political factions, under the watchful eyes of Arab and Western monitors.

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Justin Bieber Feud With Patrick Carney Heats Up As Black Keys Drummer Imitates Pop Star On Twitter

The Twitter war between Justin Bieber and Black Keys drummer Patrick Carney rages on.

After the pair got into a verbal tussle on the social networking site on Tuesday, thousands of Beliebers have bombarded Patrick’s page with threats and insults.

PLAY IT NOW: Justin Bieber Opens Up On Split From Selena Gomez

The musician initially seemed to have fun with the attack from Justin‘s fans (re-Tweeting their oft-misspelled rants) but took the bizarre feud to a new level when he changed his Twitter name to Justin Bieber, and replaced his own photo with a picture of the “Beauty and the Beat” singer rocking hipster frames (similar to his own).

Patrick also began Tweeting using the 18-year-old singer’s catchphrase, “Swag,” when replying to hundreds of angry pro-Justin Tweets.

VIEW THE PHOTOS: Grammys 2013: The Winners

“In order 2 give u guys full swag I have changed my stage name to Justin Bieber,” the 32-year-old drummer Tweeted on Saturday.

“I luv all u! I need to get my beauty swag. Swag you guyz later! – Justin,” he later added.

Carney even Tweeted a photo of a Justin Bieber toothbrush with the caption, “Bout to swag my teeth.”

VIEW THE PHOTOS: The Boy Who Makes The Tweens Swoon — Justin Bieber

See the photo HERE.

On Sunday, however, Patrick seemed to have abandoned his “swag,” as he reverted back to his own name and Tweeted, “Justin is gone now. DNA recombo unsuccessful. I will try again soon though!”

VIEW THE PHOTOS: Hollywood’s Infamous Celeb Feuds

Justin, who is currently on tour in Ireland, has yet to respond to Patrick’s Twitter name change.

As previously on AccessHollywood.com, the fight began after Justin Tweeted, “The black keys drummer should be slapped around haha,” to his 34 million followers on Tuesday night.

The Canadian pop star was up in arms over comments Patrick made to a TMZ paparazzo on Monday night, who asked if Justin should feel snubbed by the Recording Academy’s lack of Grammy nominations.

“He’s rich, right? Grammys are for like music, not for money … and he’s making a lot of money,” the drummer — whose band took home four awards at Sunday’s Grammys — told TMZ. “He should be happy.”

VOTE: Whose side are you on?

– Erin O’Sullivan

Copyright 2013 by NBC Universal, Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Social Media News Headlines – Yahoo! News

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Mindy McCready Is Dead in Apparent Suicide

Breaking News

By Steve Helling

02/17/2013 at 09:30 PM EST

Country singer Mindy McCready has committed suicide, multiple sources close to her tell PEOPLE. She was 37.

Professionally, McCready was best known for her multi-platinum debut album Ten Thousand Angels. In recent years, it's been the singer's personal troubles making headlines, though she was attempting to reestablish her music career. In 2010, McCready released a new album titled I'm Still Here.

She is survived by her son Zander, 6, with ex Billy McKnight, and Zayne, 10 months.

In January, McCready's life partner and Zayne's father, singer-songwriter David Wilson died of a self-inflicted gunshot wound. Just three weeks later, a judge ordered McCready to be committed to a treatment facility to cope with mental health and alcohol issues and her sons were placed in foster care.

Story developing …

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UN warns risk of hepatitis E in S. Sudan grows

GENEVA (AP) — The United Nations says an outbreak of hepatitis E has killed 111 refugees in camps in South Sudan since July, and has become endemic in the region.

U.N. refugee agency spokesman Adrian Edwards says the influx of people to the camps from neighboring Sudan is believed to be one of the factors in the rapid spread of the contagious, life-threatening inflammatory viral disease of the liver.

Edwards said Friday that the camps have been hit by 6,017 cases of hepatitis E, which is spread through contaminated food and water.

He says the largest number of cases and suspected cases is in the Yusuf Batil camp in Upper Nile state, which houses 37,229 refugees fleeing fighting between rebels and the Sudanese government.

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