Samsung Says It's Making More Money Than Apple, Now

Riding the wave of gadget goodness from the Consumer Electronics Show in Las Vegas, Samsung released a pretty impressive set of fourth quarter earnings estimates, including a record high profit. The South Korean electronics manufacturer says that it will make $8.3 billion in profits on $52.7 billion in revenue. That's a shade better than Apple's own record high profit of $8.2 billion on just $32 billion. Now, we could all day about the devilish details in the earnings reports and differences between the two companies revenue streams, but one things is brutally clear: Samsung is making more money than Apple, now. At least if its estimates are correct, they are.
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Tim Cook and company can't be thrilled about this news. Apple's very publicly struggled with Samsung's roaring success in the smartphone business, so much so that it has peppered its competitor with patent litigation lawsuits around the world in an attempt to get its products pulled from shelves. Though Apple won a big decision in the United States last fall, Samsung's been doing pretty well in the appeals process, and it's increasingly looking like Apple will not have its ban.
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Meanwhile, Samsung is still knocking the socks off of consumers. Just hours before releasing the glowing Q4 earnings estimates, the company pulled back the curtain on some pretty mind-boggling new TVs that will probably cost as much as a car but also shows that they're on the right side of the innovation curve. That would be the lucrative side.

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Wall Street rises after Alcoa reports earnings

NEW YORK (Reuters) - U.S. stocks rose on Wednesday, rebounding from two days of losses, as investors turned their focus to the first prominent results of the earnings season.
Stocks had retreated at the start of the week from the S&P 500's highest point in five years, hit last Friday, on worries about possible earnings weakness.
Shares of Alcoa Inc were down 0.5 percent to $9.08 after early gains, following the company's earnings release after the bell on Tuesday. The largest U.S. aluminum producer said it expects global demand for aluminum to grow in 2013.
Herbalife Ltd stock rose 4.2 percent to $39.95 in its most active day of trading in the company's history after hedge fund manager Dan Loeb took a large stake in the nutritional supplements seller. Prominent short-seller Bill Ackman had previously accused the company of being a "pyramid scheme," which Herbalife has denied.
Traders have been cautious as the current quarter shaped up like the previous one, with companies recently lowering expectations, said James Dailey, portfolio manager of Team Asset Strategy Fund in Harrisburg, Pennsylvania. Lower expectations leave room for companies to surprise investors even if their results are not particularly strong.
"The big question and focus is on revenue, and Alcoa had better-than-expected revenue," which calmed the market a little, Dailey said.
Overall, corporate profits were expected to beat the previous quarter's meager 0.1 percent rise. Both earnings and revenues in the fourth quarter are expected to have grown by 1.9 percent, according to Thomson Reuters data.
The Dow Jones industrial average gained 61.66 points, or 0.46 percent, to 13,390.51. The Standard & Poor's 500 Index rose 3.87 points, or 0.27 percent, to 1,461.02. The Nasdaq Composite Index gained 14.00 points, or 0.45 percent, to 3,105.81.
Facebook Inc shares rose above $30 for the first time since July 2012, trading up 5.3 percent at $30.59. Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its headquarters next week.
Clearwire Corp shares jumped 7.2 percent to $3.13 after Dish Network bid $2.28 billion for the company, beating out a previous Sprint offer and setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.
Apollo Group Inc slid after heavier early losses, a day after it reported lower student sign-ups for the third straight quarter and cut its operating profit outlook for 2013. Apollo's shares were last off 7.8 percent at $19.32.
Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.10 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.
Advancing stocks outnumbered declining ones on the NYSE by 2,014 to 963, while on the Nasdaq advancers beat decliners 1,603 to 859.

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News Summary: Report says SEC probes Herbalife

SEC SEEKERS: The Wall Street Journal reports that the Securities and Exchange Commission has launched a probe into Herbalife Ltd. The newspaper cited an unnamed person close to the inquiry.
TIP OF THE PYRAMID? Herbalife has been facing investor questions about its business model. Last month, Pershing Square Capital Management's William Ackman said he was shorting the stock for several months after concluding that the company is a pyramid scheme.
APPEAL TO ANALYSTS: Herbalife vehemently denies that it is a pyramid scheme. It plans to meet with analysts and investors Thursday to discuss its business model.

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Asia stocks rise on positive start to US earnings

BANGKOK (AP) — A positive start to U.S. corporate earnings season helped boost Asian stock markets Thursday.
Major regional benchmarks rose on the heels of a handful of better-than-expected results that also lifted Wall Street.
Consumer products maker Helen of Troy, whose brands include Dr. Scholl's and Vidal Sassoon, reported a 15 percent profit increase. Electronic payments processor Global Payments said its fiscal second-quarter earnings rose nearly 15 percent, beating Wall Street expectations.
After markets closed Tuesday, Alcoa Inc. predicted rising demand for its aluminum this year and topped revenue expectations for the fourth quarter. Earlier in the day, agricultural products giant Monsanto said its profit tripled and raised its guidance for 2013.
Japan's Nikkei 225 index rose 0.9 percent to 10,677.74. Hong Kong's Hang Seng gained 1 percent to 23,439.46. South Korea's Kospi added 0.7 percent to 2,005.39 and Australia's S&P/ASX 200 advanced 0.4 percent to 4,725.80.
The European Central Bank will meet later Thursday to set monetary policy for the 17 countries that use the euro. It is expected to keep its benchmark interest rate unchanged at the record low of 0.75 percent even though the eurozone economy as a whole is back in recession. Investors are also awaiting the release in the U.S. of weekly jobless claims.
On Wall Street, the Dow Jones industrial average rose 0.5 percent to close at 13,390.51 on Wednesday. The Standard & Poor's 500 rose 0.3 percent to 1,461.02. The Nasdaq composite index rose 0.5 percent to 3,105.81.
Benchmark crude oil contract for February delivery was up 33 cents to $93.44 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 5 cents to close at $93.10 per barrel on the Nymex on Wednesday.
In currencies, the euro fell to $1.3047 from $1.3053 while the dollar rose to 88.05 yen from 87.75 yen.

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Play or Sit: the coaches' quandary

FL wild card playoff football game …more
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Washington Redskins quarterback …
NEW YORK (AP) — At some point, an injured player, even a star like Robert Griffin III, is too hampered to help a team. Deciding when enough is enough is the problem.
Redskins coach Mike Shanahan became the target of widespread criticism after Griffin reinjured his right knee in Sunday's 24-14 wild-card loss to Seattle. The questions have ranged from whether Shanahan made his sensational rookie's health his No. 1 priority to whether the protocol for dealing with injuries was followed.
Coaches who have been in such tricky situations say the solutions aren't complicated.
"You have to rely on the doctors, the health always has to come first," said Super Bowl-winning coach Tony Dungy. "If the doctor says he can go or he can't go, you don't argue, there's not even a discussion.
"If the doctors say, 'Here are the limitations, he can go,' then you have to judge for yourself. How is he mentally? How limited is he physically?"
Dungy recalls many times when players wanted to go and he had to say no. While coaching the Buccaneers, Dungy told Warren Sapp he wouldn't be suiting up for a national TV game against Miami because Sapp had cracked a bone in his hand.
Sapp wanted to wear a splint, but team doctors said it was too soon for him to play.
"Warren was upset," Dungy said.
"If you ask the player, it means nothing. It's rare a player will tell you he can't do this or this or that."
Shanahan said Monday that Griffin will see renowned orthopedist James Andrews for more examinations on the knee, leaving open the possibility the quarterback will be sidelined for a lengthy period.
Shanahan added he thought he made the "right decisions" and it would be "crazy" to think he would purposely sacrifice Griffin's career to win a game.
But Shanahan admitted he did not talk to team doctors initially after Griffin was hurt in the first quarter.
"I went up to Robert. I said, 'You OK?'" Shanahan said. "And he said, 'I'm fine.'"
Not exactly the way some coaches would have handled it.
"You never put a player in harm's way," said Herm Edwards, who defended how Shanahan handled the situation during his ESPN show.
"It starts with the medical staff on the sideline. They advise you if a player is able to go back in. If they say, 'Yea,' you put him back in. If he can play, you keep him on the field."
Players don't ever want to come out, and Dungy says some will even try to hide medical problems. Or at least minimize them.
San Francisco tight end Vernon Davis suffered a concussion on Dec. 23 at Seattle and returned to play in the season finale against Arizona. He admits to being a little "woozy" during his limited reps, but insists sitting should not have been the first option.
"You trust the player. A player knows his body better than anyone," Davis said. "If he's feeling a certain way, then I don't think you can go against that. He knows he can play."
But he could be placing himself in greater jeopardy, whether in the short term or for his entire career. For every Adrian Peterson and Jamaal Charles who makes a stunningly quick recovery, there are dozens of players who are never the same.
Some don't even get back in uniform again.
Or they come back too quickly, as Griffin's teammate, cornerback DeAngelo Hall, did in 2010.
Hall missed practice leading up to a game against the Colts. Usually, Shanahan bars players from suiting up when that happens, but Hall was allowed to play.
"I gave up a couple of touchdown passes," Hall said. "And Mike was just like, 'That's my fault, you shouldn't have been out there. I respect you wanted to be out there, but I could tell you just couldn't go.'
"You always want to be out there. It's nothing against the guys behind you, but just that competitiveness in you. You want to compete, you want to be a part of it, especially this run we've had.
"Man, it would have been hard for that guy (RG3) to say, 'Nah, coach I can't go' or 'pull me.' Everything was going so special, he wanted to be a part of it."
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Colts' Arians returns to Indy after hospital stay

INDIANAPOLIS (AP) — Colts offensive coordinator Bruce Arians returned to Indianapolis on Monday night after being released from a Baltimore hospital following a 36-hour stay for an undisclosed illness.
Team owner Jim Irsay told The Associated Press in a text message that Arians was accompanied by two team doctors, had been medicated and appeared to be on the mend.
"He was in good spirits (and) is trending (in) right direction," Irsay wrote.
Arians was admitted to the hospital Sunday morning after complaining he felt ill at the team breakfast. Without Arians, quarterbacks coach Clyde Christensen called the plays in the 24-9 season-ending loss to the Ravens.
Doctors ran a series of tests. Head coach Chuck Pagano acknowledged earlier Monday that although each of the tests was negative, the doctors decided to keep Arians in the hospital until his blood pressure stabilized.
"Whatever he's dealing with, they would have let him come home early this morning, but whatever he's dealing with affected his blood pressure and they're not going to release him until they get the blood pressure under control, which they will," Pagano said during a regularly-scheduled afternoon news conference.
The Colts couldn't wait to get Arians back in town.
They're next task is keeping him in the locker room — though players and coaches believe Arians has done enough to warrant getting a head coaching job. It's a delicate balancing act for the Colts, who have given permission to at least two teams, Chicago and Philadelphia, to speak with Arians about their coaching vacancies.
There has been speculation that Cleveland and San Diego are also interested in Arians.
Teams seeking a younger, more image-conscious coach may not be interested in the 60-year-old Arians, who has a penchant for telling it like it is and in a folksy way. His only previous head-coaching experience came during a six-year tenure at Temple in the 1980s.
But it's hard to argue with the rest of his resume.
After Pagano was diagnosed with leukemia in September, Arians became the interim coach and guided the Colts to a 9-3 mark. That tied the NFL record for most victories after a midseason coaching change.
He mentored Peyton Manning, Tim Couch, Ben Roethlisberger and now Andrew Luck. He won two Super Bowls as an assistant in Pittsburgh, served on Paul "Bear" Bryant's staff at Alabama and has had a big part in two of the biggest turnarounds in NFL history — the 10-game improvement of the 1999 Colts and Indy's nine-game improvement this year.
Clearly, the Colts (11-6) want him to come back, but they also understand why he's a hot commodity on the coaching carousel only one year after he was nearly forced into retirement.
"We do not want to lose Bruce," Pagano said. "He is so valuable to this organization and what he means to this organization and what he's done. You want the best for Bruce. I want the best for Bruce. I want the best for his family. I want him to achieve and reach any goals that he has for himself throughout his coaching years, things like that. It's a hard spot. Again, people are going to go after good people and this is just a byproduct of the success that we've had here."
Luck said he wants Arians back, too.
"Selfishly, I hope he doesn't go anywhere," Luck said before jokingly reiterating what he said last week — that if teams asked him for a recommendation he would say terrible things about Arians to keep him in Indy.
He's not the only one at the team complex trying to do that.
"We will just use social media. We will get on the Internet, just like they do around draft time with all the players, all the baggage starts to come out," Pagano said, drawing laughter. "We won't do it here. We will just wait until later this evening, the next couple of weeks and start putting all that stuff out if it gets serious."
The likelihood is that those talks will get serious.
Arians has repeatedly told reporters in Indy that he will only leave for the right fit and that wherever he lands, he still wants to call the plays — even if that means staying in Indy, where the entire offense would like to have him back for Year 2 of the Colts' reconstruction project.
"I want to be selfish but I can't," tight end Dwayne Allen said. "Bruce is such a great guy and what he did for us this year, the job as a head coach and an offensive coordinator was just unbelievable and he deserves an opportunity if he wants to. Hopefully he decides to stay with us because we'd love to have him but if we have to part ways, then so be it."

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UPDATE 2-American Football-Alabama crush Notre Dame to win championship

MIAMI, Jan 7 (Reuters) - Alabama's 'Crimson Tide' swept aside Notre Dame in the BCS Championship game on Monday, dominating the 'Fighting Irish' 42-14 to win their third college football title in four years.
Notre Dame, 12-0 in the regular season, had been looking for their first national title since 1988 but were all at sea against irresistible Alabama, who set the tone of the game with an utterly one-sided 28-0 first half.
Alabama quarterback AJ McCarron threw four touchdown passes and finished with 264 yards through the air, while running back Eddie Lacy and receiver Amari Cooper had two scores each as the Crimson Tide claimed back-to-back titles.
The victory confirmed Nick Saban as the most successful active coach in college football with four national titles, taking him within two of Alabama great Bear Bryant.
The one-sided nature of a game featuring the top ranked Notre Dame will inevitably lead to further criticism of the ranking system, though a new system is to be introduced in 2014 that will see four teams battle it out for the crown at the end of the regular season.
Regardless of the system, few would argue that Alabama, beaten only by Texas A&M in the regular season, are worthy national champions - a status acknowledged before the game by Las Vegas bookmakers if not the rankings.
The matchup had been described as a return to the pinnacle of college football for Notre Dame but it ended in embarrassment for the team in shiny golden helmets, who have won 11 'consensus' national titles but endured some lean years of late.
The chance of a first title since the introduction of the BCS championship game in 1998 drew a huge Notre Dame following to Miami where they made up the bulk of the record 80,120 crowd at the Dolphins' Sun Life stadium.
PULSATING ATMOSPHERE
After marching bands had whipped up the atmosphere, it was quickly apparent that the smaller but wildly enthusiastic Alabama support would be heading home happy.
Alabama's first drive ended in a 20 yard touchdown run from the powerful Lacy, ably assisted by an imposing offensive line that swiftly establish supremacy.
McCarron then found tight-end Michael Williams with a three yard pass as Alabama took a 14-0 first quarter lead.
The second quarter saw a one yard rushing score from T.J. Yeldon and then Lacy collected a pass from McCarron and ran into the end-zone for an 11 yard score.
Alabama's power in the running game was evident in the yards put up by their two main backs - Lacy rushed for 140 yards and Yeldon 108.
Receiver Amari Cooper was left wide-open to score on a 34 yard McCarron pass in the third before Notre Dame gave their fans something to cheer with quarterback Everett Golson running the ball in from two yards out.
McCarron and Cooper combined again for a fourth quarter score before Notre Dame's Golson found Theo Riddick with a six yard pass to make the final score 42-14.
With the game already won and three minutes left on the clock, Saban sent out back-up quarterback Blake Sims and other reserves to get a taste of the glory. (Editing by Peter Rutherford)

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ING Bank may cut more costs as bad loans weigh

Dutch banking and insurance group ING said it may need to cut more costs to cope with new regulations and high provisions for bad loans, highlighting the pressures on banks to shrink their businesses.
Banks globally are facing higher capital requirements to satisfy regulators at a time when a weak economy is reducing demand for investment banking and credit services, forcing them to reduce costs by cutting operations and jobs.
Deutsche Bank in September announced a plan to cut bonuses, axe more jobs and sell assets to meet tougher capital rules, while Swiss bank UBS is cutting 10,000 jobs as it winds down its fixed-income division.
Nomura Holdings Inc , Japan's biggest brokerage, will make cuts in its equities and investment banking businesses, with its loss-making European operations taking the biggest hit.
ING, which is dismantling its banking and insurance model after needing 10 billion euros ($13 billion) of state aid in 2008, said on Monday the weak economy would continue to have an impact on operations.
"Risk costs for the bank have been increasing amid the economic downturn, and we don't foresee an immediate improvement," Chief Executive Jan Hommen said in a New Year's speech to his employees.
Risk costs are provisions for loans that are not expected to be repaid or not repaid fully because borrowers are in financial trouble or are going bankrupt.
"While we have initiated steps to reduce expenses, we are also confronted with headwinds including higher regulatory costs and the Dutch bank tax, and we must continue to align our cost structure to a leaner operating environment," Hommen said.
In November, ING announced a second round of job cuts, axing 2,350 mostly European jobs. That followed a plan in 2011 to cut 2,700 Dutch jobs to cope with deteriorating markets.
ING employed 86,881 people at the end of September.
ING shares were up 2.9 percent at 7.60 euros by 1010 GMT, in line with increases in the share prices of other European banks after regulators eased global bank liquidity rules to enable lenders to issue more credit to help struggling economies grow.

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Japan to compile 12 trillion yen extra budget: sources

TOKYO (Reuters) - Japan's government will compile a 12 trillion yen ($136.30 billion) extra budget with up to 10 trillion yen set aside for economic stimulus, several sources told Reuters on Monday.
The government will sell more than 5 trillion in new bonds to fund the budget, the sources said. The remaining funds will come from unspent money from last fiscal year's budget and money originally allocated to servicing existing debt, the sources said.

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Canada leading indicator edges up 0.1 percent in November

OTTAWA (Reuters) - The composite leading indicator for Canada rose 0.1 percent in November, slowing down from October on a housing market downturn and weak manufacturing as the economy hits a soft patch.
The index rose 0.2 percent in October and was up every month in 2012 except July, said a report on Monday by the Macdonald-Laurier Institute. The think tank developed the modified indicator last year to replace the one discontinued by the country's official statistics agency.
"The marginal gains in the leading indicator augur slow economic growth into early 2013, although the manufacturing sector turned down as uncertainty grew about the global economy," the institute said in a release.
The housing index fell 3.3 percent in November, the fifth consecutive decline as housing starts and existing home sales weakened.
In manufacturing, new orders fell 0.7 percent and the average workweek shrank by 0.3 percent.
Employment insurance claims rose for the first time in eight months in spite of strong employment data in the fourth quarter.
The stock market and commodity prices were the main areas of strength offsetting the weakness elsewhere.

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