Facebook beats Wall Street expectations but shares fall anyway

Facebook Inc. reported fourth-quarter financial results that beat Wall Street expectations, but it shares are falling anyway.

Revenue rose 40% to nearly $1.6 billion in the fourth quarter, above analyst estimates. That marked the first growth acceleration since Facebook started selling shares to the public in May.

Facebook said it earned $64 million, or 3 cents a share, compared with $302 million, or 14 cents a share, a year earlier.

"In 2012, we connected over a billion people and became a mobile company," Chief Executive Mark Zuckerberg said in a written statement that accompanied the fourth-quarter financial results. "We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company."

Since Facebook's overhyped initial public offering landed on Wall Street with a big thud, the company has had a tough time winning friends there.

"I don't think any investors are going to unfriend Facebook for these numbers. I think the stock is trading down a bit because people were expecting a blowout quarter, and what they got was a good-but-not-great quarter," said Bill Burnham with hedge fund Inductive Capital.

Facebook shares fell 3% in after-hours trading after the fourth-quarter results were released.

Investors will be listening for clues this afternoon whether Facebook has made progress in reinventing itself as a mobile business. It's a challenge it must meet to retain users and regain its luster on Wall Street.

How successful the company has been in that quest became clearer in its fourth-quarter earnings report. Mobile advertising accounted for about 23% of ad revenue in the quarter, up from 14% in the third quarter, Facebook said. The figure was in the ballpark of what analysts had expected.

Mobile ads have become increasingly important for Facebook as more of its users check their News Feed on their smartphones and tablets rather than on personal computers.

Signs that mobile ads were starting to gain traction have pushed up Facebook shares, which reached rock bottom in early September.

Facebook has also rolled out new applications for the iPhone and mobile phones powered by Android software. But not everything has a mobile focus. There is no mobile version of Graph Search, which Facebook rolled out this month.

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Senate overwhelmingly approves John Kerry for secretary of State

WASHINGTON — The Senate voted overwhelmingly Tuesday to confirm Sen. John F. Kerry (D-Mass.) as the next secretary of State, filling a crucial national security spot in President Obama’s second-term Cabinet.

The 94-3 vote clears the way for Kerry to replace Hillary Rodham Clinton after she steps down Friday.

Kerry, who will become America’s 68th top diplomat, failed to win only three Republican votes — Sens. John Cornyn and Rafael “Ted” Cruz, both of Texas, and Sen. James M. Inhofe of Oklahoma. 

A spokesman for Cornyn said Kerry supported liberal positions that most Texans oppose. Cruz has criticized Kerry, who fought in the Vietnam War, as anti-military.

Earlier Wednesday, Kerry received the unanimous endorsement of the Senate Foreign Relations Committee in a voice vote. He served on the committee for 28 years and chaired it for the last four.

Sen. Bob Corker (R-Tenn.), the ranking Republican on the committee, praised Kerry as a “realist” on foreign affairs issues, and said he was always “open to discussion” with colleagues of the opposite party.

Corker, noting that Kerry’s father was a foreign service officer, said he knew of no one “who’s lived a life that’s been ultimately more oriented toward being secretary of State.”

Leading Republican senators had promoted Kerry as an alternative to Susan Rice, the U.S. ambassador to the United Nations, for the job. Rice withdrew her name from consideration after Republicans criticized her for statements she made on TV talk shows after the deadly Sept. 11 attack on the U.S. mission in Benghazi, Libya.

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Survey shows strong consumer interest in BlackBerry 10, but few are willing to buy just yet

The good news for RIM (RIMM): Lots of people are interested in checking out its upcoming BlackBerry 10 platform. The bad news: Few are willing to commit to buying a BlackBerry 10 device at the moment. According to a new online survey of more than 1,100 Americans commissioned by mobile application specialist BiTE interactive and conducted by reputable pollster YouGov, 47% of Americans find “at least one of BlackBerry’s new features appealing,” although only around 13% say they’ll consider buying a BlackBerry 10 device.

[More from BGR: Apple’s 128GB iPad shows the world exactly what Apple does best]

[More from BGR: Apple unveils new 128GB iPad]

The survey found that the new Time Shift Camera, which lets users rapid-shoot multiple pictures of the same subject and then choose the best one from the bunch, was the most popular new BlackBerry feature, followed by BlackBerry 10′s new predictive keyboard. But as BiTE operations executive vice president Joseph Farrell notes, there’s a big difference between interest in new features and a commitment to spend money acquiring them. Farrell also thinks that RIM will still struggle to be relevant as long as app developers neglect BlackBerry in favor of iOS and Android.

“RIM’s much anticipated BB10 launch is a major, and much needed overhaul for the one-time smartphone leader and all indications are that it has, at very least succeeded in convincing Americans to give BlackBerry a second look,” he says. “However, it is clear that while all the new features can catch the interest of Android and iOS owners, the key chink in RIM’s armor remains its apps ecosystem. RIM has made great efforts to catch up with iOS and Android in this regard, but it, like Microsoft, is likely to find this far easier said than done.”

BiTE’s full press release is posted below.

BlackBerry 10 Captures Attention of One in Two Americans

But only one in eight will actually consider buying a BB10 device

Los Angeles, January 29, 2013 – Ahead of the launch of Research in Motion’s long-anticipated BlackBerry 10 operating system and two new smartphones this week, nearly one in two Americans online (47 percent) finds at least one of BlackBerry’s new features appealing.

Despite interest in the new features only one in eight Americans (13 percent) will consider buying a BB10 device, and only one in 100 plans to get one immediately. The findings are according to a report from BiTE interactive, the native mobile application specialist for Fortune 1000 brands, which commissioned YouGov to poll the views of a representative sample of 1,127 American adults online.

Time Shift Camera wins most American hearts, especially with Android owners

RIM’s Time Shift Camera is the most compelling new BB10 feature for 16 percent of Americans. The Time Shift Camera takes multiple shots of a subject in a single picture and lets you choose the best composite image. 46 percent more women than men identify it as the most attractive new feature of BB10, while it is most appealing for one in five (21 percent) 18-34 year olds. The same age group is also the most likely to find one of the BlackBerry 10’s features appealing (66 percent). RIM’s new predictive keyboard feature is the most compelling new feature for only six percent of Americans while only one in 100 picked the new ‘flow’ interface.

The new BB10 features appeal to more Android (65 percent) than iPhone owners (56 percent).

“RIM’s much anticipated BB10 launch is a major, and much needed overhaul for the one-time smartphone leader and all indications are that it has, at very least succeeded in convincing Americans to give BlackBerry a second look,” said Joseph Farrell, EVP Operations, BiTE interactive. “However, it is clear that while all the new features can catch the interest of Android and iOS owners, the key chink in RIM’s armor remains its apps ecosystem. RIM has made great efforts to catch up with iOS and Android in this regard, but it, like Microsoft, is likely to find this far easier said than done. A lot of eyes will be on the new BlackBerry World from day one, as its success is pivotal to that of the BB10 devices as viable mainstream consumer handsets.”

iPhone owners least likely to jump to BlackBerry

According to BiTE interactive’s report, iPhone owners are the least likely to buy into BB10. Only around one in 10 (11 percent) have any interest in owning one of RIM’s new phones compared with around one in five (21 percent) Android owners. Overall, almost one in two (44 percent) Americans definitely will not get a BB10 device while a further one in four (27 percent) say they will likely not get one.

Joseph Farrell added, “RIM’s challenge is compounded by the fact that Google and Apple have already built up huge mobile user bases who, for the most part, have invested lots of time and money learning and using their platform of choice. To switch to any new platform, even between the two, means a new investment of time and resources that many do not wish to spend, let alone taking a perceived risk on the new BB10 platform, no matter how impressive some of the new technology is.”

Research methodology

BiTE interactive commissioned YouGov to poll the views of a representative sample of 1,127 US adults. Fieldwork was undertaken between January 23-25, 2013. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+).

This article was originally published on BGR.com

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Man detained by Taye Diggs charged with burglary

LOS ANGELES (AP) — Prosecutors say a man who was detained by Taye Diggs after the actor found him at his home has been charged with felony burglary.

Hassan Omar Juma faces up to six years in prison if he is convicted and is scheduled to be arraigned in a Los Angeles courtroom Wednesday afternoon.

Diggs detained the 20-year-old after he and his wife found him in their garage on Sunday night. The "Private Practice" star was returning from the Screen Actors Guild Awards, where he was a presenter.

Juma was charged Wednesday with first-degree felony residential burglary. He's jailed in lieu of $50,000 bail.

Police say Diggs caught Juma after chasing him and neither man was hurt in the incident.

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Well: Ask Well: Squats for Aging Knees

You are already doing many things right, in terms of taking care of your aging knees. In particular, it sounds as if you are keeping your weight under control. Carrying extra pounds undoubtedly strains knees and contributes to pain and eventually arthritis.

You mention weight training, too, which is also valuable. Sturdy leg muscles, particularly those at the front and back of the thighs, stabilize the knee, says Joseph Hart, an assistant professor of kinesiology and certified athletic trainer at the University of Virginia, who often works with patients with knee pain.

An easy exercise to target those muscles is the squat. Although many of us have heard that squats harm knees, the exercise is actually “quite good for the knees, if you do the squats correctly,” Dr. Hart says. Simply stand with your legs shoulder-width apart and bend your legs until your thighs are almost, but not completely, parallel to the ground. Keep your upper body straight. Don’t bend forward, he says, since that movement can strain the knees. Try to complete 20 squats, using no weight at first. When that becomes easy, Dr. Hart suggests, hold a barbell with weights attached. Or simply clutch a full milk carton, which is my cheapskate’s squats routine.

Straight leg lifts are also useful for knee health. Sit on the floor with your back straight and one leg extended and the other bent toward your chest. In this position, lift the straight leg slightly off the ground and hold for 10 seconds. Repeat 10 to 20 times and then switch legs.

You can also find other exercises that target the knees in this video, “Increasing Knee Stability.”

Of course, before starting any exercise program, consult a physician, especially, Dr. Hart says, if your knees often ache, feel stiff or emit a strange, clicking noise, which could be symptoms of arthritis.

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Amazon revenue up 22% to $21.3 billion during holiday quarter

Amazon.com Inc. saw big sales during the holiday season, reporting Tuesday that fourth-quarter revenue rose 22% to $21.27 billion from the same quarter a year earlier.

But the Internet retail giant's sales and earnings missed Wall Street's estimates. Profit for the three months ended Dec. 31 declined 45% to $97 million, or 21 cents a share, compared with $177 million, or 38 cents, in the year-ago quarter.

Analysts had expected the e-commerce company to post revenue of $22.26 billion and earnings of 27 cents a share.

Nonetheless, Amazon shares surged in after-hours trading, rising more than 9% to $284.11 at 1:50 p.m. Pacific time. During regular trading before earnings were released, shares closed down $15.69, or 5.7%, at  $260.35.

For the current quarter, Amazon expects sales to be between $15 billion and $16.6 billion, representing a 14% to 26% growth from the first quarter of 2012.

Amazon said that for the second year in a row, its tablet was the most popular item for customers, with the Kindle Fire HD the "No. 1 best-selling, most gifted and most wished-for product" across the company's merchandise lineup.

"At year-end, Kindle Fire HD, Kindle Fire, Kindle Paperwhite and Kindle held the top four spots on the Amazon worldwide bestseller charts since launch," the company said.

The Seattle-based company is holding an earnings call with analysts at 2 p.m. Pacific time.

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'Argo' producer scours for the next stranger-than-fiction story

Hunched over a desk in his spartan Westwood apartment, David Klawans squints at his computer monitor and knits his brow in concentration. "I'm perusing," he says.

His eyes dart between headlines almost indecipherable on a Web page displaying about 800 stamp-sized images of newspapers from 90 different countries.

"Two kids running? What's that?" he exclaims before clicking on a photo. "Oh, it's refugees. Whatever. Moving on."

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Nearly every day, for upward of 10-hour stretches, the independent film producer speed-reads police blogs, articles from RSS feeds and niche-interest journals in dogged pursuit of an elusive prize: a story on which to base his next movie.

His biggest hit to date is "Argo." Before the film landed seven Oscar nominations (including one for best picture) and two Golden Globes (including best drama picture), before it generated more than $180 million in worldwide grosses, "Argo" existed as a declassified story in the quarterly CIA journal Studies in Intelligence, which Klawans happens to have been perusing one day in 1998.

"It's like going on the beach with a metal detector," the self-described news junkie says of his process. "Like Kanye West looks through records to sample on his songs, I'm looking for stories to turn into films."

Klawans, 44, has established himself as Hollywood's least likely movie macher by heeding the advice of his mentor, the old-school producer David Brown ("Jaws," "A Few Good Men"): "Read everything you can get your hands on."

Indefatigable in his quest to root out oddball, overlooked true-life stories, Klawans spins material most others ignore into cinematic gold.

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"Argo" took nearly 14 years to reach the big screen after Klawans read about CIA exfiltration expert Tony Mendez's rescue of six American diplomats hiding in Tehran during the 1979 Iran hostage crisis. Mendez (portrayed in the movie by "Argo's" director, Ben Affleck) posed the group as Canadian filmmakers scouting locations for a science-fiction film, created a fictitious production company and planted articles about the bogus project in Hollywood trade papers.

Throughout the '90s Klawans was scraping by as a production assistant for an L.A.-based Japanese TV commercial firm. He didn't own a car, so he bicycled to UCLA's magazine archive to check the story. In microfiche files, he came across the CIA's planted articles in the Hollywood Reporter and Variety from January 1980. "My jaw dropped," he says.

Problem was, Mendez already had representation at Creative Artists Agency and was preparing to publish a memoir, "The Master of Disguise." Even so, Klawans persuaded Mendez to let him attempt to set up a movie project. He eventually bought the rights to Mendez's life story as well.

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"I'm cycling to pitch meetings wearing a backpack with a change of clothes. It's summertime and I'm sweating. And I'm getting to know studio security. They call me 'bike boy,'" remembers Klawans, who would switch from bike to business attire outside the studio gates. "I would basically throw my backpack behind a bush — I was embarrassed to look like a messenger guy."

The New York University film school graduate was born in Chicago. His family moved to Belgium when he was 2 and he grew up in Europe and the U.S. consuming a steady diet of sci-fi and fantasy films including "Star Wars."

He came close to setting up the "Argo" project as a cable TV movie. But when that deal fell through, Klawans says, "it hit me that Tony had planted stories in Variety and Hollywood Reporter as a cover. For the CIA, it's all about illusions and perception. I thought, 'That's what I'm going to do. I'm going to plant an "Argo" story in a magazine.'"

The producer had met former L.A. Weekly staff writer and "This American Life" contributor Joshuah Bearman through friends who thought the two shared an appreciation for offbeat material. Bearman also had experience turning a magazine story into a movie; an article he reported for Harper's became the 2007 documentary "The King of Kong: A Fistful of Quarters," about two die-hard video game players vying for the world's highest score in the vintage arcade game "Donkey Kong."

Klawans handed over his research and contacts to Bearman and proposed that the journalist write "Argo" as a magazine article that would entice movie backers.

Bearman landed an assignment from Wired magazine, then interviewed everyone he could: Mendez, officials in the State Department with knowledge of the exfiltration and Ken Taylor, the Canadian ambassador to Iran who housed some of the fugitive American diplomats, as well as the six embassy "houseguests."

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TSX little changed, RIM positioning offsets banks

TORONTO (Reuters) – Canada‘s main stock index finished little changed on Monday, as gains in the financial group were partially offset by Research In Motion Ltd shares, which sagged ahead of its critical BlackBerry 10 launch this week.

The Toronto Stock Exchange‘s S&P/TSX composite index <.gsptse> was down 0.72 of a point at 12,815.91. Half of the index’s 10 key sectors climbed higher.</.gsptse>

(Reporting by Solarina Ho)

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Lucasfilm pushes pause on 3-D 'Star Wars' prequels

LOS ANGELES (AP) — The force isn't with the 3-D versions of the "Star Wars" prequels.

Lucasfilm said in a statement Monday that it's postponing the scheduled 3-D releases of "Star Wars: Episode II — Attack Of The Clones" and "Episode III — Revenge of the Sith" this fall to instead focus its efforts on "Star Wars: Episode VII."

The Walt Disney Co. confirmed Friday that J.J. Abrams, creator of the TV series "Lost" and director of 2009's "Star Trek" movie, will direct the seventh installment of the franchise, set for a 2014 release.

Disney bought "Star Wars" maker Lucasfilm last month for $4.06 billion.

"Episode I — The Phantom Menace" was released in 3-D last February and earned $22.4 million domestically its opening weekend.

The original prequels were released from 1999 to 2005.

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Observatory: Viagra as Diet Pill?

New evidence suggests that the erectile-dysfunction drug Viagra might have another use: helping burn away excess fat.

The drug, generically known as sildenafil, helped convert undesirable white fat cells to energy-burning beige fat cells in laboratory mice, researchers at the University of Bonn in Germany report in The Journal of the Federation of American Societies for Experimental Biology.

It was already known that mice fed Viagra became less prone to obesity when fed a high-fat diet. What was not clear was why.

Dr. Alexander Pfeifer, director of the university’s Institute for Pharmacology and Toxicology, said he already had some clues: Viagra works by preventing the degradation of the intercellular messenger cGMP. Dr. Pfeifer has long been testing the effects of cGMP on fat cells.

So he fed the drug to mice for seven days and monitored their fat cells. As it turned out, the troublesome white fat cells, which are associated with human problems like the dreaded spare tire, were being converted to the beneficial type of fat cells at a higher rate than usual. Dr. Pfeifer called the results “very promising.”

Still, he cautions against taking the drug purely for dieting purposes. “The idea to have one pill and then obesity goes away, that is a dream, but not easy to come by,” he said. “What we are up to is basic research in mice. This pill is approved by the F.D.A. for a particular purpose for a reason.” 

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