Hitting a high Note: 'phablets', chips to drive Samsung fourth quarter profit

SEOUL (Reuters) - Samsung Electronics, the world leader in mobiles and memory chips, likely earned a quarterly profit of $8.1 billion, as it sold close to 500 handsets every minute and as demand picked up for the flat screens it makes for mobile devices, including those for rival Apple Inc products.

That run of five straight record quarters may end in January-March on weak seasonal demand, though a strong pipeline of smartphones - the South Korean group's biggest earner - and improving chip prices have eased concerns that earnings growth could slow this year, powering Samsung shares to record levels.

"Guidance is unlikely to disappoint given new product launches and a further upturn in cyclical parts of the business," said Morgan Stanley analyst Shawn Kim. "Smartphone momentum has not decelerated, despite Apple's new iPhone, and the business continues to be driven by its flagship products.

"This time, it's the Galaxy Note II ... with the upside in unit shipments mainly from the U.S. We expect strong momentum to continue in the first quarter."

While Apple rolled out just a single new smartphone, the iPhone 5, last year globally, Samsung bombarded the market with 37 variants tweaked for regional and consumer tastes, from high-end smartphones to cheaper low-end models. By comparison, Taiwan's HTC Corp released 18 models, Nokia 9 and LG Electronics 24.

Samsung, valued at close to $230 billion, gives its October-December earnings guidance on Tuesday before the market opens. The full earnings release is expected by January 25.

A HIGH NOTE

Shipments of Samsung's flagship Galaxy S III, which overtook the iPhone 4S in the third quarter to become the world's best-selling smartphone, are likely to have slipped to around 15 million in the last quarter from 18 million in July-September. But estimated sales of around 8 million Galaxy Note II phone-cum-tablets, or 'phablets', should more than make up for that - pushing overall smartphone shipments to around 63 million, analysts estimate.

There has been increased speculation that Samsung will launch the next version of its Galaxy S in the first quarter, possibly with an unbreakable screen and full high-definition quality resolution boasting 440 pixels per inch, as well as a better camera and a more powerful processor.

"Samsung's smartphone shipments are likely to grow even in a seasonally weak first quarter. The early launch of the Galaxy S IV would drive second-quarter growth momentum," said BNP Paribas Securities analyst Peter Yu, who predicts Samsung's 2013 operating profit will grow 25 percent to almost $35 billion.

Samsung is forecast to raise its smartphone sales by 35 percent and widen its lead over Apple this year, driven by its diversified product line-up, said Neil Mawston, Executive Director at market researcher Strategy Analytics, which forecasts Samsung will sell 290 million smartphones this year, up from a projected 215 million in 2012.

Apple's smartphone sales are projected to reach 180 million this year, up by a third from last year's 135 million.

STRONG NUMBERS

Samsung is likely to say on Tuesday that its October-December operating profit increased 65 percent to 8.7 trillion won from a year ago, a Reuters survey of 16 analysts showed. That would be 7 percent higher than its previous record of 8.1 trillion won in July-September.

Profits from the mobile division are seen slightly higher, at around 5.8 trillion won, than the previous quarter's 5.63 trillion won - and more than double last year's level. A recovery in chip prices and flat screens may have also boosted its component earnings, propelled by booming sales of mobiles carrying Samsung's chips, micro-processors and flat screens.

Reflecting the upbeat outlook, shares in Samsung, Asia's most valuable technology stock, last week hit a life high of 1.584 million won ($1,500). The stock gained 44 percent in 2012, easily outpacing a 9 percent rise on the broader Korean market and topping Apple's 31 percent increase.

The shares eased a third of one percent on Monday.

Samsung, LG Electronics and four Taiwan companies were last week fined millions of dollars for allegedly manipulating liquid crystal display panel prices in China in 2001-06, the state-run news agency Xinhua reported.

(Editing by Ian Geoghegan)

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RG3 defends himself as Redskins await knee results

ASHBURN, Va. (AP) — As the Washington Redskins awaited word on Robert Griffin III's health, teammates defended the rookie quarterback's decision to keep playing after reinjuring his right knee.

Griffin also chimed in. He did not appear in the locker room during the two hours it was open to reporters Monday morning, but offered some thoughts on Twitter.

"Many may question, criticize & think they have all the right answers. But few have been in the line of fire in battle," Griffin tweeted.

The Redskins were expected to announce results of Griffin's MRI later Monday.

Already playing with a heavy black brace in his third game since spraining a ligament in his knee, Griffin hurt the knee again when he fell awkwardly while throwing a pass in the first quarter of Sunday's 24-14 playoff loss to the Seattle Seahawks.

Griffin stayed in the game, but he was far from his usual self, clearly favoring the knee and unable to run with the world-class speed that helped define his play early in the season.

Then, in the fourth quarter with the Redskins trailing by seven, the knee buckled the wrong way when Griffin tried to field a bad snap. The Seahawks recovered the fumble deep in Washington territory, setting up a short field goal that helped put the game out of reach. Griffin was done for the night.

If Griffin had been pulled earlier, the critical turnover might not have happened. And, of course, his knee probably wouldn't be hurt as badly as it is.

"I thank God for perspective and because of that I appreciate the support from everyone. I also appreciate the criticism," Griffin tweeted.

Coach Mike Shanahan said after the game he essentially left the decision for Griffin to keep playing in Griffin's hands, and Griffin said he would probably have defied his coach if ordered to the bench.

"It's a slippery slope, I guess you can say, because you want to help the team," said receiver Pierre Garcon, who faced similar questions this season while dealing with a painful toe injury. "But you want to help yourself in the long run and your career.

"You want to look out for all sides, but it's hard to really know exactly if you're doing the right thing because if you sit out and the team losses, it's like 'I could probably have helped.' If you go out there and don't help the team, it's like, 'I probably should've sat out.' You've just got to make a decision and live with it."

Shanahan was scheduled to address reporters Monday afternoon, but said after the game that he perhaps should have pulled Griffin sooner.

"It's a very tough decision," Shanahan said Sunday. "You have to go with your gut. You have to go with your gut and I did. I'm not saying my gut is always right, but I've been there before. In different situations, I get to know Robert better as time goes on and I'll know how stubborn he is — probably more so as time goes on. He's a competitor and I'll probably second guess myself. ... In the second half, should you have done it earlier? I think you always do that, especially after you don't win."

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Follow Joseph White on Twitter: http://twitter.com/JGWhiteAP

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Women dominate UK film’s “rising star” shortlist

LONDON (Reuters) – Actresses dominated the shortlist for the British Academy of Film and Television Arts‘ Rising Star awards on Monday, taking four of the five places.

Juno Temple, who appeared in the 2007 drama “Atonement”, and Andrea Riseborough, best known for her leading role in Madonna‘s biopic of Wallis Simpson “W.E.”, represent British interests on the list.

They are up against U.S. actress Elizabeth Olsen of the acclaimed 2011 drama “Martha Marcy May Marlene“, and Sweden’s Alicia Vikander, who starred in Danish period drama “A Royal Affair” and last year’s adaptation of the novel “Anna Karenina”.

Suraj Sharma is the youngest on the list at 19 and the sole male representative, having been picked from 3,000 hopefuls to star in Ang Lee’s recent 3D picture “Life of Pi” despite no previous acting experience.

The Rising Star Award is handed out on February 10 at the main BAFTA prize ceremony, Britain’s top film accolades. It is the only category voted for by the public, who can cast their votes at ee.co.uk/bafta.

Previous winners of the award aimed at spotting stars of the future include James McAvoy, Eva Green, Shia LaBeouf and Kristen Stewart.

(This story has been refiled to change word in headline to “women” from “females”)

(Reporting by Mike Collett-White, editing by Paul Casciato)

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Your medical chart could include exercise minutes

CHICAGO (AP) — Roll up a sleeve for the blood pressure cuff. Stick out a wrist for the pulse-taking. Lift your tongue for the thermometer. Report how many minutes you are active or getting exercise.

Wait, what?

If the last item isn't part of the usual drill at your doctor's office, a movement is afoot to change that. One recent national survey indicated only a third of Americans said their doctors asked about or prescribed physical activity.

Kaiser Permanente, one of the nation's largest nonprofit health insurance plans, made a big push a few years ago to get its southern California doctors to ask patients about exercise. Since then, Kaiser has expanded the program across California and to several other states. Now almost 9 million patients are asked at every visit, and some other medical systems are doing it, too.

Here's how it works: During any routine check of vital signs, a nurse or medical assistant asks how many days a week the patient exercises and for how long. The number of minutes per week is posted along with other vitals at the top the medical chart. So it's among the first things the doctor sees.

"All we ask our physicians to do is to make a comment on it, like, 'Hey, good job,' or 'I noticed today that your blood pressure is too high and you're not doing any exercise. There's a connection there. We really need to start you walking 30 minutes a day,'" said Dr. Robert Sallis, a Kaiser family doctor. He hatched the vital sign idea as part of a larger initiative by doctors groups.

He said Kaiser doctors generally prescribe exercise first, instead of medication, and for many patients who follow through that's often all it takes.

It's a challenge to make progress. A study looking at the first year of Kaiser's effort showed more than a third of patients said they never exercise.

Sallis said some patients may not be aware that research shows physical inactivity is riskier than high blood pressure, obesity and other health risks people know they should avoid. As recently as November a government-led study concluded that people who routinely exercise live longer than others, even if they're overweight.

Zendi Solano, who works for Kaiser as a research assistant in Pasadena, Calif., says she always knew exercise was a good thing. But until about a year ago, when her Kaiser doctor started routinely measuring it, she "really didn't take it seriously."

She was obese, and in a family of diabetics, had elevated blood sugar. She sometimes did push-ups and other strength training but not anything very sustained or strenuous.

Solano, 34, decided to take up running and after a couple of months she was doing three miles. Then she began training for a half marathon — and ran that 13-mile race in May in less than three hours. She formed a running club with co-workers and now runs several miles a week. She also started eating smaller portions and buying more fruits and vegetables.

She is still overweight but has lost 30 pounds and her blood sugar is normal.

Her doctor praised the improvement at her last physical in June and Solano says the routine exercise checks are "a great reminder."

Kaiser began the program about three years ago after 2008 government guidelines recommended at least 2 1/2 hours of moderately vigorous exercise each week. That includes brisk walking, cycling, lawn-mowing — anything that gets you breathing a little harder than normal for at least 10 minutes at a time.

A recently published study of nearly 2 million people in Kaiser's southern California network found that less than a third met physical activity guidelines during the program's first year ending in March 2011. That's worse than results from national studies. But promoters of the vital signs effort think Kaiser's numbers are more realistic because people are more likely to tell their own doctors the truth.

Dr. Elizabeth Joy of Salt Lake City has created a nearly identical program and she expects 300 physicians in her Intermountain Healthcare network to be involved early this year.

"There are some real opportunities there to kind of shift patients' expectations about the value of physical activity on health," Joy said.

NorthShore University HealthSystem in Chicago's northern suburbs plans to start an exercise vital sign program this month, eventually involving about 200 primary care doctors.

Dr. Carrie Jaworski, a NorthShore family and sports medicine specialist, already asks patients about exercise. She said some of her diabetic patients have been able to cut back on their medicines after getting active.

Dr. William Dietz, an obesity expert who retired last year from the Centers for Disease Control and Prevention, said measuring a patient's exercise regardless of method is essential, but that "naming it as a vital sign kind of elevates it."

Figuring out how to get people to be more active is the important next step, he said, and could have a big effect in reducing medical costs.

___

Online:

Exercise: http://1.usa.gov/b6AkMa

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Oscar host Seth MacFarlane to announce nominations

LOS ANGELES (AP) — For the first time in 40 years, the host of the Academy Awards will help announce the Oscar nominations.

Academy officials say Oscar host Seth MacFarlane will join actress Emma Stone to reveal the nominees for the 85th annual Academy Awards. This is the first time since 1972 that an Oscar host has participated in the nominations announcement. Charlton Heston was the only other show host to announce Oscar nominees.

MacFarlane and Stone will reveal the contenders early Thursday morning from the Academy of Motion Picture Arts and Sciences' headquarters in Beverly Hills, Calif. The Academy Awards will be presented Feb. 24 at the Dolby Theatre in Los Angeles.

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BofA to pay $3.6B to Fannie Mae

CBS MoneyWatch's Alexis Christoforous reports for CBS2. (1/7/2013)

Reuters

9:44 a.m. CST, January 7, 2013

Bank of America on Monday announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans, in a series of deals meant to help the bank move past its disastrous 2008 purchase of Countrywide Financial Corp.

The settlements and transactions and other charges will result in Bank of America posting only a small profit for 2012's fourth quarter. The bank is due to report results Jan. 17.

Bank of America is paying $3.6 billion to Fannie Mae and buying back $6.75 billion of bad loans from the mortgage company to clear up all claims that government-owned Fannie Mae had made against the bank.

Fannie Mae and its sibling, Freddie Mac, have been pushing banks to buy back loans they sold to the two companies that never should have been sold to them because the loans did not meet the companies' criteria for purchasing.

Bank of America said most of the settlement would be covered by reserves, and another $2.5 billion, before taxes, that it set aside in the fourth quarter.

A separate settlement over foreclosure delays will result in Bank of America paying $1.3 billion to Fannie Mae, the mortgage company said. Bank of America had already set aside money to cover most of that, but took another $260 million charge in the fourth quarter to cover the balance.

Bank of America also sold the rights to collect payments on about $306 billion of loans to Nationstar Mortgage Holdings and Walter Investment Management Corp. Nationstar is paying $1.3 billion for the right to service some $215 billion of loans, while Walter Investment is paying $519 million for the right to service about $93 billion of mortgages.

Reuters first reported that Bank of America was talking to Nationstar and Walter Investment on Friday.

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Man killed in I-94 shooting

There is one person dead and another injured after a fatal shooting on the Dan Ryan.

Staff report

11:41 a.m. CST, January 6, 2013

An early morning shooting on Interstate 94 near Canalport Avenue left a 22-year-old man dead and another man injured, authorities said.

Both men were traveling northbound in a Nissan Sentra when shots rang out about 2:35 a.m., Trooper Ivan Bukaczyk of the Illinois State Police said.

Following the shooting, the damaged car pulled up to Rush University Medical Center, with two of its occupants bleeding from gunshot wounds.

The driver was not hurt in the shooting, according to a police spokeswoman. A fourth person, who was sitting next to the driver at the time of the shooting, fled from the vehicle at some point, according to the spokeswoman.

Police said they believe the shots came from another vehicle but they have been unable to come up with a description of the other vehicle.

The two men who had been shot were rear-seat passengers. The deceased man was sitting directly behind the driver as bullets hit the body and shattered the windows of the vehicle, the spokeswoman said.

Lavonshay Cooper, of the 4200 block of West Cortez Street. was pronounced dead at 3:05 a.m., according to the Cook County medical examiner's office.

The other man who was shot was transferred to John H. Stroger, Jr. Hospital of Cook County, where he was treated and later released, police said. Reports had earlier listed him in critical condition, the spokeswoman said.

State Police officers located the scene of the shooting and were able to collect evidence, Bukaczyk said.

chicagobreaking@tribune.com

Twitter: @ChicagoBreaking

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Cars, homes smarten up at Vegas tech extravaganza

SAN FRANCISCO/NEW YORK (Reuters) - At the world's largest technology conference that kicks off on Monday, the most intriguing innovations showcased may be gadgets and technology that turn everyday items into connected, smarter machines.

This year's Consumer Electronics Show in Las Vegas promises a new generation of "smart" gadgets, some controlled by voice and gestures, and technology advancements in cars, some of which already let you dictate emails or check real-time gas prices.

Pundits have long predicted that home appliances like refrigerators and stoves will be networked, creating an "Internet of things." With advancements in chips and the ubiquity of smartphones and tablets, it's now happening.

"We've been talking about this convergence of consumer electronics and computers and content for 20 years. It will actually be somewhat of a reality here, in that your phone, your tablet, your PC, your TV, your car, have a capability to all be connected," said Patrick Moorhead, principal analyst at Moor Insights & Strategy.

Despite the absence of tech heavyweights Apple Inc and Microsoft Corp, CES still draws thousands of exhibitors, from giants like Intel Corp and Samsung Electronics Co Ltd to startups hungry for funding.

Wireless chip maker Qualcomm Inc's CEO, Paul Jacobs, opens the festivities with a keynote speech on Monday, taking a spot traditionally reserved for Microsoft, which decided last year to sever ties with the show.

Jacobs said in a recent interview on PBS that he will show how wireless technology will be pushed way beyond smartphones into homes, cars and healthcare.

SMARTER SMARTPHONES

With venues spanning over 32 football fields across Las Vegas -- more than 1.9 million sq. ft. (176,516 sq. meters) -- CES is an annual rite for those keen to glimpse the newest gadgets before they hit store shelves. The show, which started in 1967 in New York, was the launch pad for the VCR, camcorder, DVD and HDTV.

While retailers prowl for products to fill their shelves, Wall Street investors look for products that are the next hit.

Intel and Qualcomm are expected to highlight improvements in "perceptual computing," which involves using cameras, GPS, sensors and microphones to make devices detect and respond to user activity.

"The idea is that if your devices are so smart, they should be able to know you better and anticipate and react to your requirements," said IDC analyst John Jackson.

This year, snazzier TVs will again dominate show space, with "ultra high-definition" screens that have resolutions some four times sharper than that of current displays. The best smartphones will likely be reserved for launch at Mobile World Congress in February.

There will also be a record number of auto makers showing the latest in-vehicle navigation, entertainment and safety systems, from Toyota's Audi to Ford, General Motors and Hyundai. The Consumer Electronics Association has forecast the market for factory-installed tech features in cars growing 11 percent this year to $8.7 billion.

BMW, for one, already provides speech recognition that is processed instantly through datacenters, converted into text and emailed without drivers taking their hands off the wheel. The luxury carmaker also offers data about weather, fuel prices and other items.

"Automotive has been this backwater of technology for a long time. Suddenly, we're seeing a lot of real innovation in automotive technology," Scott McGregor, CEO of chipmaker Broadcom, told Reuters ahead of the show.

(Editing by Edwin Chan and Leslie Gevirtz)

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AP Sources: Syracuse's Marrone to take over Bills

ORCHARD PARK, N.Y. (AP) — The Buffalo Bills have reached an agreement to hire Syracuse's Doug Marrone as their next coach, two people familiar with talks told The Associated Press on Sunday.

Marrone will replace Chan Gailey, who was fired last Monday, a day after the Bills closed their second consecutive season with a 6-10 record. The 48-year-old Marrone went 25-25 in four seasons at Syracuse.

One person told the AP that the deal is done. The person spoke on condition of anonymity because there has not been an official announcement. A second person confirmed that the Bills were set on hiring Marrone, who was identified as the team's leading candidate Saturday night.

ESPN.com, citing league sources, first reported early Sunday that Marrone would be the Bills' next coach. Messages left with Syracuse officials and Marrone's agent, Jimmy Sexton, have not been returned.

Syracuse was 26-57 over a seven-year period before Marrone took over at his alma mater. The Orange finished this season 8-5, winning six of their last seven games, including a 38-14 win over West Virginia in the Pinstripe Bowl.

Now, he's set for another challenge two hours down the New York State Thruway.

Marrone takes over a Bills team that has not had a winning record since 2004, when it finished 9-7, and has missed the playoffs for 13 straight seasons. That's the NFL's longest active streak.

The Syracuse job was Marrone's first as a head coach. He has seven years of NFL experience. Marrone spent 2006-08 as the New Orleans Saints' offensive coordinator and was the New York Jets' offensive line coach from 2002-05.

The Bills' decision to go with Marrone came on a day they were scheduled to interview Broncos offensive coordinator Mike McCoy. The meeting, however, was postponed by McCoy, according to a person familiar with the coach's plans. The person said McCoy asked that the Bills reschedule the meeting because he was already interviewing for several other coaching vacancies this weekend.

The person spoke on the condition of anonymity because the Bills and McCoy have not revealed their plans.

As the AFC's top seed, the Broncos are off until opening the playoffs Jan. 12. They allotted time for interested teams to interview McCoy in Denver this weekend. McCoy is a candidate for jobs in Philadelphia, Arizona and Chicago.

The Bills opened their coaching search Tuesday, when newly promoted President Russ Brandon and several executives traveled to Arizona, where they interviewed candidates. They met with former Cardinals coach Ken Whisenhunt and current Cardinals defensive coordinator Ray Horton. The Bills also interviewed Oregon coach Chip Kelly and former Bears coach Lovie Smith.

On Friday, the Bills confirmed they had interviewed Marrone, but they did not reveal when or where that meeting took place.

Marrone had also interviewed with the Cleveland Browns for their vacancy.

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Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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French actor Depardieu meets Putin, picks up Russian passport

MOSCOW (Reuters) – French film star Gerard Depardieu met Russian President Vladimir Putin in the Black Sea town of Sochi and obtained his Russian passport, the Kremlin said on Sunday, after he left his homeland to avoid a new tax rate for millionaires.

Putin signed a decree on Thursday granting Russian citizenship to Depardieu, who objected to French Socialist president Francois Hollande‘s plan to impose the 75 percent tax rate. His decision to quit France had prompted accusations of national betrayal.

The Russian president and Depardieu were shown on state-run Channel One shaking hands and hugging each other early on Sunday during what the Kremlin said was a private visit by the actor to Russia.

“A brief meeting between the president and Depardieu took place,” Kremlin spokesman Dmitry Peskov said. “On the occasion of his visit to Russia, he was handed a Russian passport.”

Peskov did not say whether Putin personally gave Depardieu the passport or if he picked it up through standard procedures. He said the actor also told Putin about his career plans.

Depardieu, star of the movies “Cyrano de Bergerac” and “Green Card”, is a popular figure in Russia, where he has appeared in many advertising campaigns, including for ketchup. He also worked there in 2011 on a film about the eccentric Russian monk Grigory Rasputin.

Putin asked Depardieu whether he was pleased with his work in the movie, TV footage of their meeting showed, with the French actor saying he had already sent Putin some excerpts from it.

Depardieu bought a house in Belgium last year to avoid the French income tax increase. French Prime Minister Jean-Marc Ayrault called Depardieu’s decision to seek Belgian residency “pathetic” and unpatriotic, prompting an angry response from the actor.

Putin said last month that Depardieu would be welcome in Russia, which has a flat income tax rate of 13 percent, compared to the 75 percent on income over 1 million euros ($ 1.30 million) that Hollande wants to levy in France.

He offered Depardieu a Russian passport, saying he had a close, special relationship with France and had developed warm ties with the actor, even though they had rarely met.

Some of Putin’s critics said the passport move was a stunt and pointed out that the president announced last month a campaign to prevent rich Russians keeping their money offshore.

($ 1 = 0.7666 euros)

(Reporting By Alexei Anishchuk; Editing by Pravin Char)

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