Nintendo says it won’t cut Wii U price despite slumping sales

Nintendo (NTDOY) has a lot riding on its latest video game console, but sales have been slow thus far. Gamers have not responded to the bulky new GamePad controller, which could be considered the biggest point of differentiation on the Wii U. As a result, Nintendo recently slashed its sales outlook on Wii U consoles for the March quarter. Following some speculation that Nintendo might cut the price of the Wii U in an effort to bolster sales, the company confirmed alongside its third-quarter results that dropping the console’s price is not an option.

[More from BGR: BlackBerry doesn’t need to catch up with Android and iOS overnight, it needs to live to fight another day]

“With Wii U, we have taken a rather resolute stance in pricing it below its manufacturing cost, so we are not planning to perform a markdown,” the company said. “I would like to make this point absolutely clear. We are putting our lessons from Nintendo 3DS to good use, as I have already publicly stated. However, given that it has now become clear that we have not yet fully communicated the value of our product, we will try to do so before the software lineup is enhanced and at the same time work to enrich the software lineup which could make consumers understand the appeal of Wii U.”

[More from BGR: Mark Cuban unloads on American patent system, says bad patents are ‘crushing small businesses’]

Nintendo stands firm behind its new console, and the company says it will gain traction once consumers become more familiar with the new GamePad controller and other Wii U features.

This article was originally published on BGR.com

Gaming News Headlines – Yahoo! News

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Actress Kerry Washington wins big at NAACP Image Awards

LOS ANGELES (Reuters) – Actress Kerry Washington was the big winner at the NAACP Image Awards on Friday, picking up awards for her roles in the slavery-era Western film “Django Unchained” and television drama “Scandal,” as well as a special honor for professional achievement and public service.

But on a night that celebrated the successes of artists of color, actor and activist Harry Belafonte struck a somber note when he admonished the black community for failing to speak out in favor of gun control, saying “the group most devastated by America’s obsession with the gun is African-Americans.”

Washington received the best supporting actress in a movie award for her role as a slave in Quentin Tarantino‘s “Django Unchained” and best actress in a television drama for “Scandal,” in which she plays a crisis-management expert.

“This award does not belong to me. It belongs to our ancestors,” Washington said in accepting her award for “Django Unchained,” which has received a mixed reaction from the black community for its portrayal of slavery and its violence.

Both Washington and “Django” co-star Jamie Foxx, who received the entertainer of the year award, thanked Tarantino for making the film.

“‘Django’ was an absolute blessing of a movie,” Foxx said. “Thank you Quentin Tarantino for having the courage to do it.”

“Django” failed to pick up the image award for best movie, losing to “Red Tails,” a film about African-American wartime pilots.

The NAACP also honored Washington with a special award for both her political activism, including her work on President Barack Obama’s re-election campaign, and for being the first black woman in 40 years to star in a prime-time drama on network television.

“I stand here tonight on the shoulders of those who have blazed a path of art and activism,” Washington said, mentioning Belafonte specifically.

Belafonte took the stage later to accept his own special award for his decades of political activism. He used his speech to implore the black community to support gun control, an issue that has received heightened attention since a December shooting at a Connecticut school killed 20 children and six adults.

“In the gun game, we are the most hunted. The river of blood that washes the streets of our nation flows mostly from the bodies of our black children,” Belafonte said. “Where is the raised voice of black America? Why are we mute?”

The night’s other winners included Denzel Washington, who won the best actor in a movie award for his role as an alcoholic pilot in “Flight,” and LL Cool J, who picked up best actor in a TV drama for “NCIS: Los Angeles.”

The NAACP Image Awards celebrate the accomplishments of people of color in the fields of film, television, music and literature, and also honor individuals or groups who promote social justice.

The National Association for the Advancement of Colored People, founded in 1909, is the oldest and largest civil rights organization in the United States.

(Reporting By Nichola Groom; Editing by Eric Beech)

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Ferrol Sams, Doctor Turned Novelist, Dies at 90

Ferrol Sams, a country doctor who started writing fiction in his late 50s and went on to win critical praise and a devoted readership for his humorous and perceptive novels and stories that drew on his medical practice and his rural Southern roots, died on Tuesday at his home in Lafayette, Ga. He was 90.

The cause, said his son Ferrol Sams III, also a doctor, was that he was “slap wore out.”

“He lived a full life,” his son said. “He didn’t leave anything in the tank.”

Dr. Sams grew up on a farm in the rural Piedmont area of Georgia, seven mud-road miles from the nearest town. He was a boy during the Depression; books meant escape and discovery. He read “Robinson Crusoe,” then Mark Twain and Charles Dickens. One of his English professors at Mercer University, in Macon, suggested he consider a career in writing, but he chose another route to examining the human condition: medical school.

When he was 58 — after he had served in World War II, started a medical practice with his wife, raised his four children and stopped devoting so much of his mornings to preparing lessons for Sunday school at the Methodist church — he began writing “Run With the Horsemen,” a novel based on his youth. It was published in 1982.

“In the beginning was the land,” the book begins. “Shortly thereafter was the father.”

In The New York Times Book Review, the novelist Robert Miner wrote, “Mr. Sams’s approach to his hero’s experiences is nicely signaled in these two opening sentences.”

He added: “I couldn’t help associating the gentility, good-humored common sense and pace of this novel with my image of a country doctor spinning yarns. The writing is elegant, reflective and amused. Mr. Sams is a storyteller sure of his audience, in no particular hurry, and gifted with perfect timing.”

Dr. Sams modeled the lead character in “Run With the Horsemen,” Porter Osborne Jr., on himself, and featured him in two more novels, “The Whisper of the River” and “When All the World Was Young,” which followed him into World War II.

Dr. Sams also wrote thinly disguised stories about his life as a physician. In “Epiphany,” he captures the friendship that develops between a literary-minded doctor frustrated by bureaucracy and a patient angry over past racism and injustice.

Ferrol Sams Jr. was born Sept. 26, 1922, in Woolsey, Ga. He received a bachelor’s degree from Mercer in 1942 and his medical degree from Emory University in 1949. In his addition to his namesake, survivors include his wife, Dr. Helen Fletcher Sams; his sons Jim and Fletcher; a daughter, Ellen Nichol; eight grandchildren; and nine great-grandchildren.

Some critics tired of what they called the “folksiness” in Dr. Sams’s books. But he did not write for the critics, he said. In an interview with the Georgia Writers Hall of Fame, Dr. Sams was asked what audience he wrote for. Himself, he said.

“If you lose your sense of awe, or if you lose your sense of the ridiculous, you’ve fallen into a terrible pit,” he added. “The only thing that’s worse is never to have had either.”

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Chicago beer firm Crown Imports is caught in antitrust fight

An antitrust brouhaha in Washington has thrown the future of Crown Imports, a Chicago-based beer importer, into question.

The company, which ranks third in U.S. beer sales volume, is a joint venture between New York-based Constellation Brands Inc. and Mexico's Grupo Modelo, which makes Corona Extra, the leading imported beer in the U.S., and other brands. Crown sells Modelo brands as well as China's Tsingtao.

As part of its proposed sale to Anheuser-Busch InBev, Grupo Modelo agreed to sell its 50 percent stake in Crown to Constellation Brands for $1.85 billion. The separate transaction was meant to ease possible antitrust concerns that the merger would eliminate Crown Imports as a competitor.

But on Thursday the U.S. Department of Justice filed an antitrust suit against AB InBev to block its acquisition of Grupo Modelo. Antitrust officials said the merger would further increase the concentration of the U.S. beer market, leading to higher prices for American consumers.

The lawsuit said the sale of Modelo's interest in Crown Imports to its partner would only create "a facade of competition" between AB InBev and the importer.

"In reality, Defendants' proposed 'remedy' eliminates from the market Modelo — a particularly aggressive competitor — and replaces it with an entity wholly dependent on ABI," the Justice Department said in the lawsuit.

The suits cites as evidence part of an internal memo that Crown's chief executive, Bill Hackett, wrote to employees after the transactions were announced in June. According to the suit, Hackett wrote, "Our #1 competitor will now be our supplier ... it is not currently or will not, going forward, be 'business as usual.'"

Under the terms of the proposed merger with Modelo, AB InBev also had the option to terminate its agreement with Crown Imports after 10 years, giving it full control of Corona distribution.

Constellation Brands on Friday attacked the Justice Department, saying in a statement that the suit "demonstrates its incomplete understanding" of the proposed merger. Constellation and AB InBev have indicated that they plan to challenge the suit.

In a detailed defense, Constellation said its full control of Crown would improve competition, not harm it. According to the lawsuit, Modelo controls about 7 percent of U.S. beer sales, far behind AB InBev's market-leading 39 percent.

Constellation attempted to ease concerns that AB InBev's merger with Modelo would lead to higher prices. Hackett said in a statement: "Our Crown team independently develops, implements and refines pricing, promotional and sales strategies for each of our brands in the U.S."

The proposed beer merger had reduced uncertainty hanging over Crown Imports because the Modelo-Constellation joint venture was set to expire at the end of 2016. The Justice Department action creates a new level of uncertainty, said Benj Steinman, president of Beer Marketer's Insights, a beer industry trade publication.

"Crown's fate is hanging in the balance," Steinman said.

asachdev@tribune.com

Twitter@ameetsachdev

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Hadiya Pendleton's 'twin' describes death of best friend

The best friend of Hadiya Pendleton talks about the moments before her friend was shot in Chicago on January 31, 2013. (Heather Charles, Chicago Tribune)

As she and her high school classmates fled from the gunfire, Hadiya Pendleton screamed that she had been shot, fell to the ground, struggled to get up and fell again, according to her best friend.

The best friend and another girl scrambled to Pendleton's side, cradling her in their arms as others ran for help.

"I was holding her hand trying to talk her through it," her best friend told the Tribune on Thursday. "I was like, 'You're going to be fine, you're going to be OK.'"

But Hadiya, 15, died shortly after a bullet pierced her back Tuesday, igniting outrage over the senseless loss of another young victim of Chicago's out-of-control gun violence and leaving her friends staggered by the horrifying chain of events on what had been a carefree afternoon.

In the account that follows, the Tribune is not naming those who witnessed the shooting and its aftermath because the gunman is still at large.

On Tuesday afternoon, the mood outside King College Prep in North Kenwood was jubilant. The students at the elite high school had just finished final exams, classes had let out early and the winter weather was spectacular, tipping into the low 60s.

Hadiya and her best friend, both sophomores, headed toward a nearby Potbelly's, one of their favorite places to eat, the friend said. But on their way, at about 1:30 p.m., they ran into friends who invited them to Harsh Park, just a few blocks away from the school.

"We were like, 'OK, sure, who doesn't want to walk around outside when it's nice?'" Hadiya's best friend said.

As they walked, the group of about a dozen teens discussed which tests had been easy and which had been hard. Some were volleyball players from King and others went to another high school, Hadiya's friends said.

Once they reached the small, residential park, Hadiya and others headed to a playground where they swung in the warm air while chatting about their plans for the summer and their 16th birthdays. Hadiya's best friend said she and Hadiya had talked about a joint sweet 16 party and possibly wearing matching gold heels and colorful outfits to celebrate the occasion.

But then a sudden downpour drove the teens beneath a metal awning where Hadiya played "Misery Business" by the band Paramore on her cellphone and others tweeted and texted as they waited out the rain.

Minutes later, however, Hadiya's best friend said she saw a gun-wielding male scale the park fence and approach the group. She yelled a warning to her friends, but the gunman opened fire, spraying the teens with bullets as they ran.

Hadiya was struck in the back about 2:20 p.m. One teen suffered a graze wound to an ankle. And a 17-year-old junior at King was hit in the left leg below the calf, according to his mother, who said he was trying to protect his girlfriend.

The teen's mother said that her son, an Eagle Scout, didn't realize he had been shot. He felt a little sting in his leg before he looked down and saw blood.

A nurse who lived in the area and was leaving her home at the time of the shooting ran to the group, applied a makeshift tourniquet to the teen shot in the leg and called 911. The nurse instructed the others on how to take care of Hadiya.

In the meantime, another friend of Hadiya's ran to a nearby Subway restaurant, burst through the door and asked to borrow a man's phone to call 911.

But by then wailing police cars whizzed by toward the park, so she called her mom.

"I told her to stay put," her mother told the Tribune. "I can't even tell you, as a mother, what it's like to get that phone call. My goal was to get to my child."

The friend said that she and Hadiya met freshman year at a high school dance camp. The friend joined poms, while Hadiya became a majorette, traveling to Washington last month to perform in a competition with her squad during President Barack Obama's inauguration weekend.

The girls were nicknamed "twins" by classmates and teachers because of their similar appearance, the friend said. From haircut to smile to skin tone to personalities, the two were hard to tell apart, she said.

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BlackBerry World is off to a decent start, but it’s missing some big-name apps

When BlackBerry (RIMM) announced that more than 70,000 BlackBerry 10 applications would be available when its new platform launched, users were ecstatic. That big number was too good to be true, unfortunately, as we and many others noticed in our time spent with the BlackBerry Z10. While the app store includes some big names such as Rovio’s Angry Birds and various titles from Electronic Arts (EA) and Gameloft, it still leaves much to be desired. The company is said to be “in talks” to bring popular apps such as Netflix (NFLX) and Instagram to the platform but nothing is certain. Despite all of this, BlackBerry has announced that more than 1,000 of the top app developers are developing for BlackBerry 10.

“Being able to announce 1000 of the top app partners is a testament to the strength of BlackBerry 10, the ease of developing for this powerful new platform, and the remarkable opportunity that it represents for developers and brands alike,” said Martyn Mallick, BlackBerry’s VP of global alliances and business development. “We have focused on bringing the most relevant apps to BlackBerry 10 – whether they are global leaders in their categories, or whether they are regional must-have apps. We are thrilled and want to thank all the developers that have shown such strong support of a platform before it has commercially launched. We share in their excitement and belief in BlackBerry 10.”

Some of the big-name apps that aren’t available on BlackBerry 10 include YouTube, Pandora, Spotify, Hulu and perhaps most importantly, Google Maps.

BlackBerry’s press release follows below.

BlackBerry 10 Customers Will Have a Great Selection of Top Apps in Every Category
BlackBerry welcomes more than 1000 of the top app partners with relevant, local content from every region of the globe

WATERLOO, ONTARIO–(Marketwire – Jan. 31, 2013) – A phenomenal lineup of top brands and applications have committed to the BlackBerry(R) 10 platform, giving the new platform the strongest content offering of any first generation mobile platform at launch. Yesterday at the BlackBerry 10 launch event in New York, BlackBerry(R) (NASDAQ:RIMM)(TSX:RIM) announced that 1,000 of the top app partners will be making their applications available on the BlackBerry(R) World(TM) storefront. The partners range from leaders in social media to the top games, sports, productivity, lifestyle apps, and more.

BlackBerry Vice President of Global Alliances and Business Development, Martyn Mallick took to the stage yesterday to showcase some of applications committed to BlackBerry 10, and attendees were able to play with some of the applications for the new platform.

“Being able to announce 1000 of the top app partners is a testament to the strength of BlackBerry 10, the ease of developing for this powerful new platform, and the remarkable opportunity that it represents for developers and brands alike,” said Mallick. “We have focused on bringing the most relevant apps to BlackBerry 10 – whether they are global leaders in their categories, or whether they are regional must-have apps. We are thrilled and want to thank all the developers that have shown such strong support of a platform before it has commercially launched. We share in their excitement and belief in BlackBerry 10.”

Here are just some of the apps and games committed to BlackBerry 10. Many of these apps will be available at launch with others to follow:

Business and Productivity
– Bloomberg, BMC Service Desk & Remedy, Box, Cisco WebEx Meetings, Citrix Podio, CNBC, Dictionary.com, Emirates NBD, Harmon.ie, IBM Notes, Traveler, ING DIRECT Canada, Nat West, RBC, RBS, SAP, TD Bank Group and Thomson Reuters

Gaming
- 10tons: Sparkle, Joining Hands, Azkend, King Oddball, Azkend2, Ironworm, Dragon Portal and Boom Brigade 2
- Disney Mobile Games: Where’s My Water? and Where’s My Perry?
– Electronic Arts: A great selection of their top games including, Mass Effect(TM) Infiltrator, Flight Control Rocket, The Sims(TM) FreePlay and MONOPOLY Millionaire
– Fishlabs: Galaxy on Fire
– Funkoi: Alpha Zero
– Gameloft: A great selection of their top games, including Asphalt 7:Heat, The Amazing Spider-Man(TM), Modern Combat 4: Zero Hour, The Dark Knight Rises(TM)
– Halfbrick: Jetpack Joyride, Fruit Ninja
– JoyBits: Doodle God & Doodle Devil
– Rovio: Angry Birds Classic, Angry Birds Star Wars, Angry Bids Space and Angry Birds Seasons
– Square One Games: Square One and InXile
– SEGA: Sonic4(TM) Episode 1
– ZeptoLab- Cut the Rope, Cut the Rope: Experiments
Lifestyle
– AccuWeather, Air Canada, Air France, DStv Mobile, Dr. Oetker Rezeptideen, Easyjet, FlightAware, Flixster, KLM, Manulife Financial, President’s Choice Recipe Box, SkyScanner, Spotcast, StubHub, The Weather Channel, The Weather Network, Tim Hortons TimmyMe(TM), United Airlines, Wikitude, WisePilot, Yellow Pages Group and Zara

Multimedia
– Absolute Radio, Al Jazeera, Allocine, Astral Radio, BBC Worldwide- Top Gear, BubblePix, Channel 4, Corus Entertainment- Radio, Deezer, E! Online, eMusic, Europe 1, Kiss Kube, MTV Italia, Nobex Radio, NOS, N-TV Nachrichten, Occipital 360 Panorama, OxygenLive, Pacemaker, PaperCamera, Rdio, Shahid.net, SiriusXM, Slacker, Songza, SoundHound, TuneIn, and Volu.me
Published Media
– AFP News, Amazon Kindle, CBC (News, Radio, Music, Hockey Night in Canada), Economist, elmundo.es, El Pais, Grazia Italy, Handlesbaltt, kicker, Leo Dictionary, MailOnline, Maxim, News24, New York Times, NU.nl, PressReader, The Globe and Mail, The Guardian, The Independent, The London Evening Standard, USA Today, The Wall Street Journal and Wirtschaftswoche
Social
– Badoo, Facebook, Foursquare, LinkedIn, ooVoo, Skype, Tuenti Social Messenger, Twitter, Viber, Whatsapp and Xing
Sports
CBSSports.com, ESPN ScoreCenter, Goal.com, L’equipe, Maple Leaf Sports & Entertainment’s Maple Leafs Mobile App and Raptors Mobile App, MLB.com At Bat(R), NHL GameCenter, PGA Tour, Runtastic, Sports Tracker and UFC

Continuing to build out a rich and robust content offering for BlackBerry 10 customers, on January 28, BlackBerry announced content partnerships with leading music labels, movie studios and TV broadcasters making BlackBerry World a one stop shop for all app, games and multimedia content for BlackBerry 10.

Gadgets News Headlines – Yahoo! News

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Amazon Orders 5 Children’s Shows to Pilot

LOS ANGELES (TheWrap.com) – Amazon is continuing to beef up its original programming, ordering five potential children’s series to pilot, including shows from the creators of “Blue Clues” and “Rugrats,” the company announced on Thursday.

“Creative Galaxy,” “Oz Adventures,” “Teeny Tiny Dogs,” “Tumbleaf” and an untitled J.J. Johnson project will join six other comedy pilots on Amazon Instant Video. Viewers can watch for free and give their feedback – after which Amazon will decide what shows get series orders.

No launch date has yet been scheduled for the pilots.

“Creative Galaxy,” from “Blue Clues” creator Angela Santomero, is an animated interactive art adventure series that hopes inspire kids’ creative thinking through crafts, story, music and dance.

The “Wizard of Oz”-inspired “Oz Adventures” will follow Dorothy’s daughter, Dot, on daily learning excursions down the yellow-brick road with other offspring from Dorothy’s old pals.

“Teeny Tiny Dogs” hails from “Rugrats” creator Howard Baker, is produced by the Jim Henson Company. As the title suggests, the show follows teeny tiny dogs as they overcome their size to navigate the big, large world.

“Tumbleaf,” created by Drew Hodges and Big Pix Studios, hopes to entertain preschoolers with a small, blue fox named Fig who has a knack for finding learning adventures down every path it wanders.

J.J. Johnson‘s project introduces kids to science and technology through Anne, a young scientist and her three robot helpers assisting her experiments carried out in her dad’s junkyard.

“We think parents – and our very youngest customers – are going to love the magical combination of entertainment and learning that they’ll discover in these children’s series,” Roy Price, Director of Amazon Studios, said in a statement.

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Former Peregrine CEO Wasendorf gets 50 years in prison

A U.S. judge on Thursday sentenced the founder of Peregrine Financial Group to 50 years in prison for looting hundreds of millions of dollars from the brokerage, saying his customers would probably never recover the money they lost.

Russell Wasendorf Sr., who had tried to kill himself just before the fraud was uncovered, received the maximum sentence allowed by law and was ordered to pay $215.5 million in restitution for his nearly 20-year scheme.

Wasendorf's fraud was revealed in 2012, triggering the collapse of the brokerage and further shaking investors' confidence in the U.S. futures industry, already rattled by the failure of larger rival M.F. Global.

"I'm very sorry for the financial and emotional damage I've caused to investors and employees of Peregrine Financial Group," Wasendorf said in a feeble voice at a sentencing hearing in Cedar Rapids, Iowa. "I feel I fully deserve whatever sentence I am given… My guilt is such I will accept that sentence."

Chief Judge Linda Reade of the U.S. District Court of the Northern District of Iowa said former Peregrine customers will probably never get all their money back.

Wasendorf, 64, admitted last July that he had bilked tens of thousands of clients over a period of nearly 20 years, faking bank statements and lying to federal regulators, employees and his closest family members.

As regulators closed in on the fraud, Wasendorf made a botched suicide attempt outside his $24-million headquarters in Cedar Falls, Iowa, which investigators say was financed with money siphoned from customers.

Peregrine Financial, known as PFGBest, quickly collapsed, and 24,000 former customers are still missing most of the money they had invested with the firm.

Wasendorf pleaded guilty in September to embezzling more than $100 million. Prosecutors said the amount stolen was more like $215 million.

"The lengthy prison sentence imposed today is just punishment for a con man who built a business on smoke and mirrors," said Acting U.S. Attorney Sean Berry.

PLEAS FOR LENIENCY

Supporters of the disgraced executive had asked Reade for leniency, arguing that Wasendorf is in frail health and that he had helped others even in the midst of his 20-year fraud.

Wasendorf, wearing an orange sweatshirt, looked gaunt in court after spending six months in isolation in a county jail.

He has been sick in jail, and doctors found a tumor on or near his pancreas, according to testimony from his pastor, Linda Livingston of Ascension Lutheran Church. Wasendorf's mother died of pancreatic cancer, but it is unknown whether Wasendorf's tumor is cancerous, she said.

U.S. prosecutors said the large loss, the sophisticated nature of the crime, and the sheer number of victims justified Wasendorf spending the rest of his life behind bars.

"The defendant spent like he was the richest man in the world," Assistant U.S. Attorney Peter Deegan said in court.

Peregrine's collapse dealt a blow to confidence in the U.S futures industry, already reeling from $1.6 billion hole in customer pockets left when giant brokerage MF Global failed nine months earlier.

Futures traders had never before suffered such large losses as a result of a brokerage failure.

Despite his misdeeds, Wasendorf "did do some positive things for the community," said former U.S. Congressman David Nagle from Iowa, who spoke up for the fallen CEO in court.

Nagle, who helped Wasendorf win zoning approval for Peregrine's environmentally-friendly headquarters, asked the judge for leniency.

"Who wants to defend the magnitude of the crimes Mr. Wasendorf committed?" he said. "But good people do bad things."

Wasendorf was well known for donating to local charities before his empire came crashing down.

However, he built his reputation for generosity using money stolen from his customers, Judge Reade said, adding that the donations likely lessened Wasendorf's feelings of guilt.

Peregrine customers "unwittingly funded the charities, but it was Mr. Wasendorf who took the credit," she said.

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Facebook’s mobile ad revenue doubles in fourth quarter

SAN FRANCISCO (Reuters) – Facebook Inc doubled its mobile advertising revenue in the fourth quarter, a sign that the No.1 social network is seeing early success in expanding onto handheld devices as more of its users migrate to smartphones and tablets.

Investors want to see evidence that CEO Mark Zuckerberg‘s 8-year-old company is delivering on promises to develop a full-fledged mobile advertising business, a challenge facing many of today’s technology leaders including Google Inc.

But the growth trailed some of Wall Street‘s most aggressive estimates. Shares of Facebook were down roughly 3 percent at $ 30.21 in after-hours trading on Wednesday, regaining ground after falling more than 8 percent immediately after the numbers were released.

Mobile revenue estimates among some analysts and investors were unreasonably high, said Sterne, Agee & Leach analyst Arvind Bhatia.

“As a result the stock was set up for disappointment,” he said. Overall, he said, Facebook’s results were encouraging.

The company’s overall advertising business grew at its fastest clip since before its May initial public offering, helping the company’s revenue expand 40 percent and surpass Wall Street targets.

Facebook has rolled out a wide variety of new services in recent months as the company seeks to stay ahead in the fast-moving Web market and to convince Wall Street that it can turn its audience of more than 1 billion users into a sustainable business.

Zuckerberg said the company plans to spend heavily to recruit talent in 2013 as the company pushes forward with new product development, particularly “mobile-first” services.

“We aren’t operating to maximize our profit this year but we’re doing what we think will build the best service and business over the long term,” Zuckerberg said during a conference call with analysts on Wednesday.

The strategy makes sense for an Internet company, said Stifel Nicolaus Jordan Rohan. But it will force Wall Street analysts to “ratchet down” their profit expectations.

“The conference call was a bit of a sobering event,” said Rohan. “The company advised analysts and investors to expect lower margins, and downplayed the near-term opportunity for revenues from Gifts,” Facebook’s recently-launched online commerce service.

FUTURE OPPORTUNITIES

Facebook shares, which lost more than half their value following a rocky IPO, have regained ground in recent months as concerns about its mobile ad business and insider selling have eased. Shares have surged roughly 60 percent since mid-November.

Zuckerberg said that recently introduced products such as Gifts, which allows Facebook users to purchase retail goods for their friends, as well as its new social search tool could become important businesses in the future. But in the near term he said that Facebook’s advertising efforts will be the core of its business.

The number of monthly active users on the social network reached 1.06 billion at the end of last year, with 618 million daily active users, Facebook said. But much of that growth again came from emerging markets like Asia, rather than the United States or Europe, where revenue per user is several times higher. For instance, average revenue per user is $ 13.58 for the United States and Canada, but just $ 2.35 in Asia.

Overall fourth-quarter revenue came to $ 1.585 billion, up 40 percent versus $ 1.131 billion a year earlier. Analysts were looking for revenue of $ 1.53 billion.

Executives said some revenue from its payments business dating back to September 2012 had been booked in the October-December quarter, inflating the number somewhat. Excluding those deferred sales, overall revenue would have been up just 34 percent in the quarter.

But it was the fledgling mobile business that dominated Wednesday’s discussion on the call. Finance Chief David Ebersman said Facebook had “basically doubled” mobile ad revenue from the third quarter to the fourth quarter.

“Two quarters ago we really had no mobile revenue,” Ebersman told Reuters in an interview. “In the course of a pretty short period of time, we’ve dramatically ramped up our ability to monetize mobile.”

Facebook said net income in the fourth quarter was $ 64 million, or 3 cents a share, compared to $ 302 million, or 14 cents a share a year earlier.

Excluding certain items, Facebook said it earned 17 cents a share, compared to the 15 cents a share expected by analysts polled by Thomson Reuters I/B/E/S.

Facebook expects expenses — excluding stock-based compensation for employees — to jump 50 percent in 2013, likely outpacing revenue growth. Capital investments may climb to $ 1.8 billion, up 14 percent from last year’s $ 1.575 billion.

“They’re going to have to continue to develop new products, which will cost them,” said Bhatia of Sterne, Agee & Leach.

But he said, “the market would be less happy if they were not finding enough opportunities.”

(Reporting by Alexei Oreskovic; Editing by Phil Berlowitz and Ryan Woo)

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“Sin City 2″ casts Eva Green and Julia Garner

LOS ANGELES (TheWrap.com) – “Sin City: A Dame to Kill For” has cast Eva Green as a femme fatale and Julia Garner to portray yet another stripper struggling to make a dime in the gritty comic-book metropolis.

Green (“Casino Royale”) will appear in the sequel to the 2005 hit, “Sin City,” as a deadly muse named Ava Lord. Garner (“The Perks of Being a Wallflower”) plays a stripper who appears in scenes with Johnny, a cocky young gambler played by Joseph Gordon-Levitt.

Like the first film, “A Dame to Kill For” is adapted from Frank Miller‘s graphic novels.

Miller, who is co-directing with Robert Rodriguez, says Green’s character is “every man’s most glorious dreams come true, she’s also every man’s darkest nightmares.”

“Ava Lord is one of the most deadly and fascinating residents of ‘Sin City.’ From the start, we knew that the actor would need to be able to embody the multifaceted characteristics of this femme fatale and we found that in Eva Green,” Miller and Rodriguez added in a statement. “We are ecstatic that Eva is joining us.”

Green and Garner are newcomers to the sequel, along with Gordon-Levitt, Jaime King, Josh Brolin, Dennis Haysbert, Michael Madsen, Christopher Meloni, Jeremy Piven, Ray Liotta, Juno Temple and Jamie Chung.

Returning from the first “Sin City” are Mickey Rourke, Jessica Alba, Bruce Willis and Rosario Dawson.

The sequel is currently filming at Rodriguez’s Troublemaker Studios in Austin, Texas and is scheduled for an October 4 theatrical release.

Movies News Headlines – Yahoo! News

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