Facebook search to generate revenue, no rival to Google: analysts

(Reuters) – Facebook Inc’s new search tool has strong potential to generate revenue for the social networking company, though it is unlikely to challenge Google Inc as the world’s dominant search engine, Wall Street analysts said on Wednesday.

Facebook’s “graph search” tool, rolled out on Tuesday, lets its more than 1 billion users trawl their network of friends to find everything from restaurants to movie recommendations and is the company’s biggest foray into online search.

Graph search contains some category suggestions that can be easily monetized, BofA Merrill Lynch analysts said in a note.

“It should be easy to incorporate commercial search results via Facebook’s partnership with Bing,” they added.

Facebook currently has a partnership with Microsoft Corp, whose Bing search engine provides search results for external websites. Microsoft also integrates certain Facebook results into its Bing search results.

BofA Merrill Lynch analysts estimated Facebook could add $ 500 million in annual revenue if it can generate just one paid click per user per year, and raised its price target on the stock by $ 4 to $ 35.

Facebook’s shares were flat at $ 30.10 in early trading on Wednesday. They have jumped about 50 percent since November to Tuesday’s close after months of weakness following its bungled Nasdaq listing in May.

However, analysts at J.P. Morgan Securities said the lack of a timeline for the possible launch of graph search on mobile devices may weigh on the tool’s prospects.

The success of the graph search, which will rely heavily on local information, depends on Facebook launching a mobile product, the analysts said. Half of all searches on mobile devices seek local information, according to Google.

Graph search also lacks the depth of review content of Yelp Inc, the analysts added.

Pivotal Research Group analyst Brian Wieser said monetization potential would be largely determined by Facebook’s ability to generate a significant portion of search query share volumes and he expects that quantity to be relatively low.

“Consumers are likely to continue prioritizing other sources, i.e. Google. Advertisers would consequently only use search if they can, or are perceived to, satisfy their goals efficiently with Facebook,” Wieser said.

NO GOOGLE KILLER

Analysts mostly agreed that Facebook’s search tool was unlikely to challenge Google’s dominance in web search at least in the near term.

“As of now, we do not see Graph Search as a threat to Google Web search. Looking forward, Facebook Graph searches could be competitive with certain categories of Google searches, such as Places and Maps,” BofA Merrill said.

Internet search, social networking tools and e-commerce are among the biggest weapons that companies such as Facebook, Google and Amazon.com Inc have in their battle for supremacy. A successful combination of the three could win the day for them.

Google has been trying to combine social networking and search for more than a year by integrating Google+ into its search engine.

“Overall, Graph Search offers users a unique view to information not available on Google, but does not replace Google. We view the relationship between Facebook Graph Search and Google as both competitive and complementary,” Piper Jaffray & Co analysts said.

The brokerage said users looking to buy a cellphone, for example, could search for friends’ reviews on Facebook and expert reviews on Google.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Sriraj Kalluvila)

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Woman held captive in Nordstrom Rack raped 'multiple times'

Prosecutors said one of the five people charged in connection with the take-over robbery at a Nordstrom Rack department store in Westchester raped one of the female hostages.

Prosecutors offered no details. But a district attorney's office spokeswoman said the victim was sexually assaulted "multiple times."

Five charged in Nordstrom Rack take-over robbery

Raymond Sherman Jr., 34, who authorities said was the most violent in the group, was charged with two counts of forcible rape, one count of oral copulation, one count of kidnapping for rape, one count of assault with a deadly weapon and 14 counts of second-degree robbery.

Troy Marsay Hammock, 29, and Everett Oneal Allen, 24, face 14 counts each of second-degree robbery and one count each of assault with a deadly weapon, identified as a knife, according to the Los Angeles County district attorney's office.

Rochelle Monique Sherman, 33; and Paula Roneshia Bradley, 29, were charged with one count each of accessory after the fact.

The complaint also alleges Sherman, who is awaiting extradition from Phoenix, where he was arrested Saturday, used a handgun in the commission of the crimes.

Police have not detailed the roles of the suspects in the robbery and hostage situation. But those in law enforcement familiar with the investigation said there is strong evidence linking the crimes to those charged, including physical evidence and security video.

The incident began about 11 p.m. Thursday at the Promenade at Howard Hughes Center, near the 405 Freeway. Sherman, Hammock and Allen allegedly confronted the employees as they were leaving the store, which had just closed.

As the incident was unfolding, one of the employees called her husband and told him to call 911. The LAPD called a tactical alert and closed off the area around the shopping center. When the police department's SWAT officers arrived, they surrounded the store.

At one point, one of the suspected burglars exited, saw the police and ran back inside. A second suspected burglar walked out with an unidentified woman, saw police and also headed back inside. The officers entered the store at 3:30 a.m. and freed the captives.

At least three of the employees were injured, including at least one woman who was sexually assaulted. Another woman was stabbed in the neck and sustained non-life-threatening injuries, and a third employee was pistol-whipped, police said. LAPD Chief Charlie Beck praised the employees for their bravery and composure.

Beck would not discuss whether the robbers hid in the store or gained entrance after it closed. Nor would he say how long they remained in the store before fleeing in a white SUV, or discuss how much cash was taken in the robbery.

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Cotillard named Hasty Pudding Woman of the Year

CAMBRIDGE, Mass. (AP) — Academy Award-winning actress Marion Cotillard (koh-tee-YAR') has been named the 2013 Harvard University Hasty Pudding Theatricals Woman of the Year.

The French actress, who won the 2007 best actress Oscar for her role in "La Vie En Rose," will be honored with a parade and roast, and given her ceremonial pudding pot, at Harvard on Jan. 31.

The 37-year-old Cotillard has appeared more recently in "Inception," ''Contagion" and "The Dark Knight Rises."

Claire Danes was the woman of the year last year.

The man of the year will be announced at a later date and honored on Feb. 8.

Hasty Pudding Theatricals is the nation's oldest undergraduate drama troupe. The awards are presented annually to performers who have made a lasting and impressive contribution to entertainment.

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Well: Ask Well: Do I Need a Flu Shot if I've Had the Flu?

First, how do you know you had the flu? There are more than 100 viruses that can cause “colds and flu” symptoms — though a bad flu is worse than most of them. Doctors often describe it as “high fever, aches and the feeling that you’ve been hit by a truck.” The country is having an early flu season, plus a big wave of norovirus (sometimes called “stomach flu” or “winter vomiting flu”), plus its worst whooping cough outbreak in 50 years, plus the usual spate of winter colds. Unless a doctor took a nasal swab, you can’t be sure that what you had was flu — and unless it was sent on to a top state laboratory or to the Centers for Disease Control and Prevention lab for sequencing (which is not routine), even your doctor wouldn’t be able to say for sure exactly which flu virus it was.

Second, even if you had the flu, you presumably had only one strain, which you now have antibodies against. There are at least four strains circulating this year: H3N2, H1N1, and two different B strains. The flu shot contains vaccines against three of them (it only has one of the B’s). By next year, some flu shots will have four vaccines. So a shot would still offer protection against flus you have not had. I suppose your chances of getting flu twice in one season aren’t huge — but some people just get unlucky. And if you have any reason to particularly fear flu, like a depressed immune system, serious obesity or diabetes, or if you are pregnant, you should definitely talk to a medical professional about this.

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Bad timing: Polish airline to debut Dreamliner service in U.S.

All Nippon Airways and Japan Airlines said they were grounding their fleets of the Boeing 787 Dreamliner after one of the jets made an emergency landing Wednesday. (Bloomberg)

By David Colker

January 16, 2013, 11:09 a.m.

Talk about a bad time to launch a new airline service.

The Polish airline, LOT, is scheduled Wednesday night to debut its Boeing 787 Dreamliner service in the U.S. with a nonstop flight from Chicago to Warsaw.

The high-tech Dreamliner, introduced with much hype by Boeing last year, has had a number of recent problems, including fires and fuel spills. And on Wednesday airlines in Japan said they were grounding their Dreamliner fleets due to a technical scare.

But so far the Polish flight is still on. "According to our best knowledge," said an email from LOT's home office in Warsaw, "the flight from Chicago to Warsaw will be operated with the Dreamliner as scheduled."

A ceremony is planned for Wednesday night at Chicago's O'Hare International Airport, with Mayor Rahm Emanuel in attendance, to mark the start of the service. 

It's not known whether any passengers planning to take the flight have canceled their reservations. LOT representatives in Warsaw declined to be interviewed and did not answer emailed questions about any cancellations.

"We conducted preventively a series of reviews of all systems in both Boeing 787 we have in our fleet," the airline said in an emailed statement. "All the tests were completed positively."

LOT was the first European airline to put the Dreamliner in service, flying the aircraft Dec. 14 from Warsaw to Prague.

Japan Airlines and All Nippon Airways said that they were suspending their Dreamliner flights after a Dreamliner flown by All Nippon made an emergency landing Wednesday because of a battery warning light. Passengers exited via emergency slides. No one was reported injured. 

ALSO:

Inside airlines' Boeing 787 Dreamliners

Dreamliner gets a big rollout in Long Beach.

All Boeing 787 Dreamliner jets in Japan grounded

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Apple supplier sees big Q4 boost, likely a good sign for iPhone 5 demand

Shares of Apple (AAPL) have been hit hard over the last few days. Investors continue to worry about the company’s profit margins, demand for its popular line of smartphones and tablets, and its future endeavors. With upcoming competition from Research in Motion (RIMM) and Microsoft (MSFT), and an ongoing battle with Google’s (GOOG) Android operating system, analysts fear that Apple’s mobile dominance may be a thing of the past. While we won’t officially know anything until the company reports its holiday earnings on January 23rd, a small German company has painted a calming picture for Apple shareholders.

[More from BGR: HTC One SV review]

Dialog Semiconductor announced last week that it expects to report a significant increase in sales for its December quarter. The company noted that the increase was due to “a stronger than anticipated end of year, underpinned by a strong late surge in demand for smartphone and tablet products.” Dialog Semiconductor now expects to report revenues of $ 268 million, an increase from between $ 215 million and $ 235 million.

[More from BGR: Extensive BlackBerry Z10 demo video posted by German website [video]]

The important thing to note is that, as of this past fall, Apple is Dialog’s largest customer and accounts for 60% of its total revenue.

Logic dictates that solid demand for Apple’s iPhone and iPad during the holidays helped boost Dialog’s performance. This could also mean that the iPhone-maker will report not only a strong December quarter, but a better-than-expected March quarter as well.

It looks like all this talk about customers losing interest in Apple may indeed be premature.

This article was originally published on BGR.com

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L.A. City Council drops $3-billion bond measure for this year

The Los Angeles City Council scrapped plans Tuesday for placing a $3-billion bond measure on the May 21 ballot, opting instead to consider it in a future election year.

Councilmen Mitchell Englander and Joe Buscaino, who had proposed the bond, said they would spend more time communicating with the public about the proposal before trying to send it to voters. "We're going to continue working on this, obviously," said Buscaino, whose district stretches from San Pedro to Watts.

The proposal, which would have increased property taxes for 20 years, had signatures from seven of the council's 15 members only two weeks ago. But in recent days, some on the council complained there hadn’t been enough outreach to the public.

Some neighborhood activists had warned that a protracted debate over the bond measure would doom passage of a proposed half-cent sales tax hike, which is on the March 5 ballot and being promoted as a way to eliminate potholes. The sales tax, known as Proposition A, is seen as a way of erasing a $220-million budget shortfall.

The search for street repair money is being driven, in part, by a fear that major sources of funding for road work are disappearing. Money from Proposition 1B, a state measure that provided $87 million for streets over a three-year period, runs out in June. Funding from President Obama’s stimulus package was depleted in summer.

A 2011 survey found that nearly one-third of the city’s streets are in D or F condition, the worst rating possible. With the current funding available, repairing those streets will take 60 years, city officials said.

The general fund, which pays for basic services, provides less than 1% of the money allocated by the city for street maintenance and repairs. Nevertheless, city officials have managed to increase the amount it spends on road work anyway, by tapping state and federal funding and special transportation taxes.

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'American Idol' returns betting big on new judges

LOS ANGELES (AP) — "American Idol" is facing a $36 million-plus question: Will that combined paycheck lavished on superstar judges Mariah Carey, Nicki Minaj and Keith Urban pay off in ratings?

The newcomers have their work cut out for them whether they earn it with colorful feuding — ladies, you know who we're talking about — or by discovering a singer who can charm America.

The talent show, a TV groundbreaker when it debuted in 2002 despite a starless panel with Simon Cowell, Randy Jackson and Paula Abdul, needs every edge as its audience erodes and other contests emerge as challengers.

"I think it's actually a renewal (of 'Idol') every couple of years, and what you're seeing now is this panel has reinvigorated the show," said Mike Darnell, Fox president of alternative entertainment.

NBC's "The Voice," one of the newcomers, enjoyed immediate success with brand-name panelists Christina Aguilera, Blake Shelton, Cee Lo Green and Adam Levine. But famous faces don't guarantee a return, as Cowell's "The X Factor" most recently proved.

Britney Spears, whose lackluster performance failed to capitalize on buzz about her intriguing foray into live TV, split from the show last week. It was a $15 million lesson for all interested parties.

But "American Idol," returning Wednesday (8 p.m. EST) with host Ryan Seacrest, has to make noise as it hits relative old age for a TV series, with its ratings still hefty but on a steady downward spiral.

Last season, "Idol" lost its status as the most-watched TV program for the first time since 2003, eclipsed by NBC's "Sunday Night Football," and pegged its lowest-rated season since it debuted in summer 2002.

An open-wallet approach worked for "Idol" before, with Jennifer Lopez validating her $12 million paycheck by helping (with Steven Tyler) to boost the show's ratings in 2011. That allowed Ellen DeGeneres' short-lived and genially unimpressive judging stint that ended in 2010 to fade into memory.

The result: Carey is raking in close to $18 million, Minaj is getting $12 million and Urban's take is a reported $6 million for the season.

Add in mainstay Jackson's share (in the reported single-digit millions) and that's a platinum-plated group. But it's potentially money well spent for a show that, en route to living up to its title of finding new pop stars, has to keep viewers firmly engaged.

Finding a breakout star like Kelly Clarkson or Carrie Underwood or Jennifer Hudson is one way to do it, but the odds are long. So it's up to the professionals to step in.

"It's more of an entertainment show than anything else, and if judges can supply the entertainment that's an ingredient for success," said analyst Brad Adgate of Horizon Media. "With 'X Factor' that didn't happen and the show didn't get into the fabric of pop culture."

Carey and Minaj already are demonstrating their potential. Their feud, whether real or fabricated, has produced such head-shaking, headline-making moments as Carey alleging that Minaj threatened to shoot her after a taping. The rapper responded with dismissive tweets.

At a news conference, Minaj tried to downplay the squabble.

"We're professionals. Have you ever had an argument with someone you've worked with?" she said after repeated questions about her working relationship with Carey.

"This was sort of one-sided," interjected Carey.

"No, it wasn't," snapped back Minaj.

Executive producer Nigel Lythgoe said the judges won't disappoint, including Urban, whom he calls a sweetheart who "sticks up for himself." The singer is expected to reinforce the show's country fan base that has boosted the fortunes of contestants including Southern crooner Scotty McCreey.

Jackson is proving tougher on contestants than in the past, Lythgoe said.

Then there are the divas.

"Nicki can get into it with anybody. She's one of the best judges ever. ... She finds an angle and drives it home," Lythgoe said. As for Carey, she's a "true legand" who is the first "to put her arms out if someone's not going through or she's happy with someone."

In an interview, Minaj described giving the show her all.

"I didn't expect to cry on 'American Idol.' I always said, 'Why do they (judges) cry on those shows? That's so stupid. Get a life.' But now I take that back," Minaj said. "When you're looking into someone's eyes and they gave their all and you know their journey ends here, it's a tough pill to swallow.

"Then you have to join the machine again and keep on judging," she added.

Fox executive Darnell expressed optimism that "Idol," an especially critical part of the network's schedule after a rough start to the season for Fox, remains TV royalty.

He conceded the talent show marketplace is overcrowded and "they're all taking each other down a little bit," each losing up to 20 percent in viewers.

But "American Idol" remains "the king of the shows. This is the one and the only one that makes stars, period," Darnell said. "And I think people will keep coming back to it for that reason."

___

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Vital Signs: Nutrition: Vitamin D Doesn’t Reduce Knee Pain

About 27 million people in the United States have osteoarthritis, an incurable condition with few effective treatments beyond pain control. Some observational evidence suggests that vitamin D supplements might slow progression of the disease.

But a two-year randomized placebo-controlled study found that vitamin D did not reduce knee pain or restore cartilage.

In an article published in The Journal of the American Medical Association last week, researchers described a study of 146 men and women with painful knee arthritis who were randomly assigned to take vitamin D supplements or placebos. Vitamin D was given in quantities sufficient to raise blood levels to 36 nanograms per milliliter, a level considered sufficient for good health.

Knee pain decreased slightly in both groups, but there were no differences in the amount of cartilage lost, bone mineral density or joint deterioration as measured by X-rays and M.R.I. scans.

The lead author, Dr. Timothy McAlindon, chief of the division of rheumatology at Tufts Medical Center, said taking vitamin D in higher doses or for longer periods might make a difference, but he’s not hopeful.

“Although there were lots of promising observational data, we find no efficacy of vitamin D for knee osteoarthritis,” he said. “There may be reasons to take vitamin D supplements, but knee osteoarthritis is not one of them.”

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Stocks edge lower; Apple extends decline

Stocks edged lower on Wall Street Tuesday as tensions flared in Washington over increasing the country's borrowing limit.

Treasury Secretary Timothy Geithner told congressional leaders in a letter late Monday that the U.S. government will reach its borrowing limit as soon as mid-February, earlier than expected. Federal Reserve Chairman Ben Bernanke also commented on the issue Monday, saying it was one of the “critical fiscal watersheds” for the government in coming weeks.

The Dow Jones industrial average fell 11 points to 13,495 as of 1:52 p.m. EST, having been down as much as 61 points in early trading. The Standard and Poor's 500 dropped two points to 1,468, the Nasdaq composite index fell 13 points to 3,105.

President Barack Obama has criticized congressional Republicans for linking talks over raising the debt ceiling to ongoing budget negotiations. Obama said the consequences of the U.S. government defaulting on its debt would be disastrous and shouldn't be used as a bargaining chip to extract concessions on spending cuts.

“We are very concerned how the market is going to respond to all the news events that will be coming out of Washington over the next few months,” said Eric Wiegand, a senior portfolio manager at U.S. Bank Wealth Management. “It really comes down to the uncertainty and the risk of a further downgrade of our debt.”

Markets were roiled in the summer of 2011 as lawmakers haggled over an increase to the debt limit. The dispute cost the U.S. its AAA ranking from the credit-rating firm Standard and Poor's.

The U.S. fiscal crisis is still the biggest single individual risk facing investors, with 37 percent of investors naming it as the biggest worry, according to a survey of fund managers published by Bank of America Merrill Lynch Tuesday. The European debt crisis was cited as the biggest concern by 23 percent of those polled and a “hard landing” for the Chinese economy was third on the list with 12 percent.

Apple fell $14 to $487.50, its third daily drop. The stock hasn't closed below $500 in almost a year. Apple slumped 3.6 percent Monday on concern that demand for its iPhone 5 is slowing. Nomura analysts today lowered their target price for the stock to $530 from $660 and cut their estimates for iPhone sales this year.

Stocks dropped Tuesday despite a report that retail sales increased in December. Consumers bought more autos, furniture and clothing, despite worries about potential tax increases. Sales rose 0.5 percent in December from November, slightly better than November's 0.4 percent increase and the best showing since September, the Commerce Department said Tuesday.

Investors may be more concerned about January's retail figures now that the increase in the Social Security payroll tax has come into effect, said Doug Cote, chief market strategist at ING Investment Management.

The tax jumped back to 6.2 percent earlier this month after President Barack Obama failed to win renewal of the temporary 2 percentage point payroll tax cut that's been in place for two years, as part of a deal that stopped the U.S. going over the “fiscal cliff.”

“The market is kind of looking past it because of the change in the tax regime,” said ING's Cote. “Are consumers going to be able to spend like they did in December and in earlier years? … I think not.”

The outlook for manufacturing in New York state worsened in January, according to survey by the Federal Reserve Bank of New York. The bank's Empire State Manufacturing Survey produced a reading of minus 7.8 for the month, indicating contraction.

Both the S&P 500 and the Dow are up on the year, having surged in the first week of January after lawmakers reached a last-minute budget deal to stop the economy going over the “cliff.” The agreement prevented a series of tax increases and spending cuts that would probably have pushed the U.S. economy back into recession, according to economists.

Optimism about the outlook for global growth has also boosted stocks.

The S&P 500 is up 2.9 percent this year and closed at a five -year high of 1,472 last week. The 30-member Dow is up 3 percent since the start of 2013.

The yield on the 10-year Treasury price, which moves inversely to its price, fell 1 basis point to 1.83 percent.

Among other stocks making big moves;

— United Continental Holdings, the airline operator, fell 10 cents to $25.89 after JPMorgan cut its rating on the company to “neutral” from “overweight” to reflect the fact that the stock has already risen 40 percent in the past 12 months.

— Lululemon Athletica, a maker of yoga apparel, dropped $3.15 to $69.17 after its revenue forecast fell short of analysts' estimates.

— Given Imaging Ltd. fell $2.16 to $16 after the medical equipment company said it was no longer considering a sale. Also one of its largest shareholders plans to sell its stake.

— Facebook fell 51 cents to $30.42, paring its gains for the year to 14 percent, after the company unveiled a new search feature on Tuesday that lets users search their social connections for information about people, interests, photos and places.

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