Stock futures tick higher in low volume, volatility eyed


NEW YORK (Reuters) - Stock index futures edged higher on Monday, suggesting equities will extend their multi-year closing highs from Friday, but low volume and the absence of economic indicators on tap could make trading volatile.


Upbeat U.S. and Chinese data last week helped extend the weekly winning streak of the S&P 500 to six weeks. The benchmark is up 6.4 percent so far this year after a steep rally in January that has dwindled as earnings season winds down.


S&P 500 futures rose 3.4 points but were slightly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 37 points, and Nasdaq 100 futures added 7.5 points.


Google shares dipped 0.8 percent in premarket trading after news Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the company, a move that could potentially net the former chief executive $2.51 billion.


Celgene Corp shares rose 1.5 percent premarket to $101.60 after U.S. regulators approved its new drug for patients with multiple myeloma whose disease has worsened after being treated with other cancer drugs.


US Airways shares gained 2.9 percent to $15.18 as it nears an $11 billion merger with AMR Corp that would create the world's largest airline.


Three of Dell Inc's largest investors joined Southeastern Asset Management on Friday in objecting to a $24.4 billion buyout of the No. 3 PC maker led by Chief Executive Michael Dell, as opposition grows to the buyout, the largest since the start of the financial crisis. Dell considered many strategic options before opting to go private, the company said in a regulatory filing.


(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama)



Read More..

Snedeker on the rise with Pebble win


PEBBLE BEACH, Calif. (AP) — Everything about Brandt Snedeker moves at warp speed, including his rapid rise into golf's elite.


He talks so fast that he always seems to be a few words short of a complete sentence. He plays fast, giving his hips a quick swivel to set his position before pulling the trigger. Even his putts go into the hole quickly, most of them struck with purpose instead of hope.


But when he reached the 18th tee box at Pebble Beach, he had to wait for the fairway to clear before taking a victory stroll up one of the prettiest closing holes in golf.


And that was OK with him.


"There's not much better place to be on the planet with a three-shot lead on that tee box," Snedeker said Sunday. "It felt pretty special there."


Indeed, Snedeker is in a special place.


With his 10th consecutive round in the 60s, Snedeker finally had a trophy to show for his astounding start to the 2013 season. He knew the opening seven holes were critical, and he made an eagle and three birdies to build a quick lead. He realized a late birdie would give him a cushion, and he fired at the flag on the par-3 17th to 10 feet below the cup and holed the putt. He closed with a 7-under 65 for a two-shot win over Chris Kirk in the Pebble Beach National Pro-Am.


It was the fifth win of his career, and his fourth in the last 22 months. But it's the last six months that have really turned heads.


He captured the $10 million FedEx Cup prize with a win at the Tour Championship, where he held off the likes of Rory McIlroy, Tiger Woods and Luke Donald going into the final round. He played in his first Ryder Cup. He started this year with a third-place at Kapalua, and runner-up finishes in consecutive weeks to Woods and Phil Mickelson, both of whom had big leads going into the final round.


Go back to the start of the FedEx Cup playoffs last August and Snedeker now has six top 3s in his last nine starts. Since missing the cut at the PGA Championship, he has broken par in 33 out of 37 rounds. No wonder he now is No. 4 in the world, the best ranking of his career.


"Just hard to put into words, to have a stretch of golf like I had the last couple of months," Snedeker said. "Something you dream about. Something you think that you can do, but you don't really know until you actually put it together. And I have.


"I'm really enjoying this, and hopefully can parlay this into the best year of my career."


Snedeker set the tournament record at 19-under 267, one shot better than Mickelson (2007) and Mark O'Meara (1997), who each had a 20-under 268 when Poppy Hills (par 72) was part of the rotation. It has been replaced by Monterey Peninsula, which is a par 70.


Chris Kirk closed with a 66 to finish alone in second, though he was never closer than two shots of the lead on the back nine and finished with a birdie. Kirk finished on 269, a score that would have been good enough to win all but four times at Pebble Beach since this tournament began in 1937.


"We've had a lot of tournaments like that on tour this year where somebody has really just kind of blitzed the field," Kirk said. "I felt like I played well enough to win a golf tournament and came up a little bit short."


Snedeker could have said the same thing — except for Woods at Torrey Pines, and Mickelson going obscenely low to win the Phoenix Open.


He wasn't about to take a back seat to anyone at Pebble Beach.


Snedeker started the final round tied with James Hahn, a 31-year-old rookie from the Bay Area, with Kirk one shot behind. He set the tone early with a 4-iron into the par-5 second hole that was on the edge of the left green. It hit the collar and kicked slightly to the right, rolling toward the pin until it settled 4 feet behind the cup.


"Kind of lucky, but it was a good shot, and to end up where it did was a great way to start the day," he said.


Hahn hit his approach high and pure, and it nearly hit Snedeker's ball before stopping 6 feet away. Hahn missed. Snedeker made. It was like that over the front nine.


Snedeker started to pull away with a 3-wood that came off the edge of the green, ran by the cup and stopped 20 feet away for a two-putt birdie. Then, he holed a 15-foot birdie putt on the seventh and was on his way.


Most impressive about Snedeker this week was bouncing back from bogey. He made five bogeys for the entire week, and four times made birdie on the next hole. On Sunday, his lone mistake was knocking an 18-foot birdie off the green and three-putting for bogey at No. 9.


The answer, like everything else about him, was fast and furious.


He knocked in a 25-foot birdie putt on the 10th, and then holed from 15 feet for birdie on the 12th. Right when it looked as though he would make another bogey on the par-3 12th, he made par from just short of 10 feet.


There's a reason Snedeker led the PGA Tour in putting last year, though it's his driving that has vastly improved. Snedeker studied some statistics last year that showed his odds of hitting the green go way up when he starts in the fairway. And once he's on the green, he's tough to beat.


Hahn, who shot 70 and tied for third, was looking forward to learning something from his debut in the final group, and he saw Snedeker put on a clinic.


"I learned that he is a better guy than he is a golfer. The dude is world class," Hahn said. "He's obviously one of the best, if not the best golfer right now, and possibly for the last year. But how he conducts himself as a person on an off the golf course, that's also world class. He deserved to win today. ... I'm sure if you ask him, it was never a doubt that he was going to win the golf tournament."


Snedeker concurred.


"I definitely didn't want to do anything but win today," he said. "I was out there for one purpose and one purpose only, and I was extremely focused all day. I did a great job of staying patient and I did a great job of playing the golf course the way you're supposed to play it."


And the outcome was just what he expected. The way he has been playing, it shouldn't have been any surprise to anyone.


Read More..

What beats Grammy? Immortality













Legends beyond their own time


Legends beyond their own time


Legends beyond their own time


Legends beyond their own time


Legends beyond their own time


Legends beyond their own time








STORY HIGHLIGHTS


  • Bob Greene: Grammy nominated acts should remember the real prize comes later in life

  • He says at a hotel he ran into a group of singing stars from an earlier era, in town for a show

  • He says the world of post-fame touring less glamorous for acts, but meaningful

  • Greene: Acts grow old, but their hits never will and to fans, the songs are time-machine




Editor's note: CNN Contributor Bob Greene is a best-selling author whose 25 books include "When We Get to Surf City: A Journey Through America in Pursuit of Rock and Roll, Friendship, and Dreams"; "Late Edition: A Love Story"; and "Once Upon a Town: The Miracle of the North Platte Canteen."


(CNN) -- Memo to Carly Rae Jepsen, Frank Ocean, Hunter Hayes, Mumford & Sons, Miguel, the Alabama Shakes and all the other young singers and bands who are nominated for Sunday night's Grammy Awards:


Your real prize -- the most valuable and sustaining award of all -- may not become evident to you until 30 or so years have passed.


You will be much older.


But -- if you are lucky -- you will still get to be out on the road making music.



Bob Greene

Bob Greene



Many of Sunday's Grammy nominees are enjoying the first wave of big success. It is understandable if they take for granted the packed concert venues and eye-popping paychecks.


Those may go away -- the newness of fame, the sold-out houses, the big money.


But the joy of being allowed to do what they do will go on.


I've been doing some work while staying at a small hotel off a highway in southwestern Florida. One winter day I was reading out on the pool deck, and there were some other people sitting around talking.


They weren't young, by anyone's definition. They did not seem like conventional businessmen or businesswomen on the road, or like retirees. There was a sense of nascent energy and contented anticipation in their bearing, of something good waiting for them straight ahead. A look completely devoid of grimness or fretfulness, an afternoon look that said the best part of the day was still to come.


I would almost have bet what line of work they were in. I'd seen that look before, many times.


I could hear them talking.


Yep.


The Tokens ("The Lion Sleeps Tonight," a No. 1 hit in 1961).




Little Peggy March ("I Will Follow Him," a No. 1 hit in 1963).


Little Anthony and the Imperials ("Tears on My Pillow," a top 10 hit in 1958).


Major singing stars from an earlier era of popular music, in town for a multi-act show that evening.


It is the one sales job worth yearning for -- carrying that battered sample case of memorable music around the country, to unpack in front of a different appreciative audience every night.


It's quite a world. I was fortunate enough to learn its ins and outs during the 15 deliriously unlikely years I spent touring the United States singing backup with Jan and Dean ("Surf City," a No. 1 hit in 1963) and all the other great performers with whom we shared stages and dressing rooms and backstage buffets:


Chuck Berry, Martha and the Vandellas, Jerry Lee Lewis, Little Richard, the Everly Brothers, James Brown, Lesley Gore, Freddy "Boom Boom" Cannon, the Kingsmen, the Drifters, Fabian, the Coasters, Little Eva, the Ventures, Sam the Sham. ...


Jukebox names whose fame was once as fresh and electric as that now being savored by Sunday's young Grammy nominees.


Decades after that fame is new, the road may not be quite as glamorous, the crowds may not be quite as large. The hours of killing time before riding over to the hall, the putrid vending-machine meals on the run, the way-too-early-in-the-morning vans to the airport -- the dreary parts all become more than worth it when, for an hour or so, the singers can once again personally deliver a bit of happiness to the audiences who still adore their music.


Greene: Super Bowl ad revives iconic voice


As the years go by, the whole thing may grow complicated -- band members come and go, they fight and feud, some quit, some die. There are times when it seems you can't tell the players without a scorecard -- the Tokens at the highway hotel were, technically and contractually, Jay Siegel's Tokens (you don't want to know the details). One of their singers (not Jay Siegel -- Jay Traynor) was once Jay of Jay and the Americans, a group that itself is still out on the road in a different configuration with a different Jay (you don't want to know).


But overriding all of this is a splendid truism:


Sometimes, if you have one big hit, it can take care of you for the rest of your life. It can be your life.


Sunday's young Grammy nominees may not imagine, 30 years down the line, still being on tour. But they -- the fortunate ones -- will come to learn something:


They will grow old, but their hits never will -- once people first fall in love with those songs, the songs will mean something powerful and evocative to them for the rest of their lives.


And as long as there are fairground grandstands on summer nights, as long as there are small-town ballparks with stages where the pitcher's mound should be, the singers will get to keep delivering the goods.


That is the hopeful news waiting, off in the distance, for those who will win Grammys Sunday, and for those who won't be chosen.


On the morning after that pool-deck encounter in Florida I headed out for a walk, and in the parking lot of the hotel I saw one of the Tokens loading his stage clothes into his car.


His license plate read:


SHE CRYD


I said to him:


"You sing lead on 'She Cried,' right?"


"Every night," he said, and drove off toward the next show.


The next show.


That's the prize.


That's the trophy, right there.


Follow @CNNOpinion on Twitter.


Join us at Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of Bob Greene.






Read More..

Pope Benedict to resign at month's end, cites deteriorating strength








ROME -- Pope Benedict surprised the world on Monday by saying he no longer had the mental and physical strength to cope with the demands of his ministry, becoming the first pontiff to step down since the Middle Ages and leaving his aides "incredulous".

The 85-year-old German-born Pope, hailed as a hero by conservative Catholics and viewed with suspicion by liberals, said he had noticed that his strength had deteriorated over recent months.

A Vatican spokesman said the Pope had not resigned because of "difficulties in the papacy" and the decision had been a surprise, indicating that even his closest aides were unaware that he was about to quit. The Pope does not fear schism in the Church after his resignation, the spokesman said.

The Pope's leadership of 1.2 billion Catholics has been beset by a child sexual abuse crisis that tarnished the Church, one address in which he upset Muslims and a scandal over the leaking of his private papers by his personal butler.

In a statement, the pope said in order to govern "...both strength of mind and body are necessary, strength which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfill the ministry entrusted to me.

"For this reason, and well aware of the seriousness of this act, with full freedom I declare that I renounce the ministry of Bishop of Rome, Successor of Saint Peter."

Before he was elected Pope, the former Cardinal Joseph Ratzinger was known by such critical epithets as "God's rottweiler" because of his stern stand on theological issues.

But after several years into his new job he showed that he not only did not bite but barely even barked.

In recent months, the Pope has looked increasingly frail in public sometimes being helped to walk by those around him.

A Vatican spokesman said the pontiff would step down from 1 p.m. CST on Feb. 28, leaving the office vacant until a successor was chosen to Benedict who succeeded John Paul, one of history's most popular pontiffs.

MEEK DEMEANOUR, STEELY INTELLECT

A spokesman for the German government said he was "moved" by the news while Israel's chief rabbi praised Benedict's inter-faith outreach and wished him good health.

Elected to the papacy on April 19, 2005 when he was 78 -- 20 years older than John Paul was when he was elected -- he ruled over a slower-paced, more cerebral and less impulsive Vatican.

But while conservatives cheered him for trying to reaffirm traditional Catholic identity, his critics accused him of turning back the clock on reforms by nearly half a century and hurting dialogue with Muslims, Jews and other Christians.

Under the German's meek demeanor lay a steely intellect ready to dissect theological works for their dogmatic purity and debate fiercely against dissenters.

After appearing uncomfortable in the limelight at the start, he began feeling at home with his new job and showed that he intended to be Pope in his way.

Despite great reverence for his charismatic, globe-trotting predecessor -- whom he put on the fast track to sainthood and whom he beatified in 2011 -- aides said he was determined not to change his quiet manner to imitate John Paul's style.

A quiet, professorial type who relaxed by playing the piano, he managed to show the world the gentle side of the man who was the Vatican's chief doctrinal enforcer for nearly a quarter of a century.

The first German pope for some 1,000 years and the second non-Italian in a row, he traveled regularly, making about four foreign trips a year, but never managed to draw the oceanic crowds of his predecessor.

STRING OF SCANDALS

The child abuse scandals hounded most of his papacy. He ordered an official inquiry into abuse in Ireland, which led to the resignation of several bishops.

Scandal from a source much closer to home hit in 2012 when the pontiff's butler, responsible for dressing him and bringing him meals, was found to be the source of leaked documents alleging corruption in the Vatican's business dealings, causing an international furor.

He confronted his own country's past when he visited the Nazi death camp at Auschwitz.

Calling himself "a son of Germany", he prayed and asked why God was silent when 1.5 million victims, most of them Jews, died there during World War Two.

Ratzinger served in the Hitler Youth during World War Two when membership was compulsory. He was never a member of the Nazi party and his family opposed Adolf Hitler's regime.

But his trip to Germany also prompted the first major crisis of his pontificate. In a university lecture he quoted a 14th century Byzantine emperor as saying Islam had only brought evil to the world and that it was spread by the sword.

After protests that included attacks on churches in the Middle East and the killing of a nun in Somalia, the Pope later said he regretted any misunderstanding the speech caused.

In a move that was widely seen as conciliatory, in late 2006 he made a historic trip to predominantly Muslim Turkey and prayed in Istanbul's Blue Mosque with a Turkish Mufti.

But months later, former Iranian President Mohammad Khatami met the Pope and said wounds between Christians and Muslims were still "very deep" as a result of the Regensburg speech.

Reuters






Read More..

Pope Benedict surprises world, steps down citing frailty


ROME (Reuters) - Pope Benedict surprised the world on Monday by saying he no longer had the mental and physical strength to cope with the demands of his ministry, becoming the first pontiff to step down since the Middle Ages and leaving his aides "incredulous".


The 85-year-old German-born Pope, hailed as a hero by conservative Catholics and viewed with suspicion by liberals, said he had noticed that his strength had deteriorated over recent months.


A Vatican spokesman said the Pope had not resigned because of "difficulties in the papacy" and the decision had been a surprise, indicating that even his closest aides were unaware that he was about to quit. The Pope does not fear schism in the Church after his resignation, the spokesman said.


The Pope's leadership of 1.2 billion Catholics has been beset by a child sexual abuse crisis that tarnished the Church, one address in which he upset Muslims and a scandal over the leaking of his private papers by his personal butler.


In a statement, the pope said in order to govern "...both strength of mind and body are necessary, strength which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfill the ministry entrusted to me.


"For this reason, and well aware of the seriousness of this act, with full freedom I declare that I renounce the ministry of Bishop of Rome, Successor of Saint Peter."


Before he was elected Pope, the former Cardinal Joseph Ratzinger was known by such critical epithets as "God's rottweiler" because of his stern stand on theological issues.


But after several years into his new job he showed that he not only did not bite but barely even barked.


In recent months, the Pope has looked increasingly frail in public sometimes being helped to walk by those around him.


A Vatican spokesman said the pontiff would step down from 2 p.m. ET on February 28, leaving the office vacant until a successor was chosen to Benedict who succeeded John Paul, one of history's most popular pontiffs.


MEEK DEMEANOUR, STEELY INTELLECT


A spokesman for the German government said he was "moved" by the news while Israel's chief rabbi praised Benedict's inter-faith outreach and wished him good health.


Elected to the papacy on April 19, 2005 when he was 78 -- 20 years older than John Paul was when he was elected -- he ruled over a slower-paced, more cerebral and less impulsive Vatican.


But while conservatives cheered him for trying to reaffirm traditional Catholic identity, his critics accused him of turning back the clock on reforms by nearly half a century and hurting dialogue with Muslims, Jews and other Christians.


Under the German's meek demeanor lay a steely intellect ready to dissect theological works for their dogmatic purity and debate fiercely against dissenters.


After appearing uncomfortable in the limelight at the start, he began feeling at home with his new job and showed that he intended to be Pope in his way.


Despite great reverence for his charismatic, globe-trotting predecessor -- whom he put on the fast track to sainthood and whom he beatified in 2011 -- aides said he was determined not to change his quiet manner to imitate John Paul's style.


A quiet, professorial type who relaxed by playing the piano, he managed to show the world the gentle side of the man who was the Vatican's chief doctrinal enforcer for nearly a quarter of a century.


The first German pope for some 1,000 years and the second non-Italian in a row, he traveled regularly, making about four foreign trips a year, but never managed to draw the oceanic crowds of his predecessor.


STRING OF SCANDALS


The child abuse scandals hounded most of his papacy. He ordered an official inquiry into abuse in Ireland, which led to the resignation of several bishops.


Scandal from a source much closer to home hit in 2012 when the pontiff's butler, responsible for dressing him and bringing him meals, was found to be the source of leaked documents alleging corruption in the Vatican's business dealings, causing an international furor.


He confronted his own country's past when he visited the Nazi death camp at Auschwitz.


Calling himself "a son of Germany", he prayed and asked why God was silent when 1.5 million victims, most of them Jews, died there during World War Two.


Ratzinger served in the Hitler Youth during World War Two when membership was compulsory. He was never a member of the Nazi party and his family opposed Adolf Hitler's regime.


But his trip to Germany also prompted the first major crisis of his pontificate. In a university lecture he quoted a 14th century Byzantine emperor as saying Islam had only brought evil to the world and that it was spread by the sword.


After protests that included attacks on churches in the Middle East and the killing of a nun in Somalia, the Pope later said he regretted any misunderstanding the speech caused.


In a move that was widely seen as conciliatory, in late 2006 he made a historic trip to predominantly Muslim Turkey and prayed in Istanbul's Blue Mosque with a Turkish Mufti.


But months later, former Iranian President Mohammad Khatami met the Pope and said wounds between Christians and Muslims were still "very deep" as a result of the Regensburg speech.


(Editing by Ralph Boulton)


(Writing by Peter Millership,; editing by Janet McBride)



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Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.


The S&P 500 also posted a sixth straight week of gains for the first time since August.


The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.


Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.


AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.


Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.


"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.


Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.


The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.


"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.


The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.


For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.


Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.


Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.


Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.


Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.


The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.


"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."


Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.


(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)



Read More..

21-year-old Chicago woman killed in Tri-State crash













Photo: Scene of crash


Photo: Scene of crash
(February 10, 2013)


























































A Chicago woman died after she was thrown from a car in an accident along the Tri-State Tollway in Glenview, authorities said.

Danielle M. Pisterzi, 21, of the 5700 block of North Nina Avenue, died about an hour after the crash near Willow Road, according to Illinois State Police Master Sgt. Brian McKinney.

Two cars collided around 10:45 p.m., McKinney said. Pisterzi was taken to Advocate Lutheran General Hospital, where she was pronounced dead at 11:52 p.m.

No one else was taken to the hospital, McKinney said.

The southbound lanes of the tollway was closed for hours as police investigated, but by 4 a.m. all four southbound lanes had been reopened.

chicagobreaking@tribune.com


Twitter: @ChicagoBreaking






Read More..

Netanyahu to discuss Iran, Syria, Palestinians with Obama


JERUSALEM (Reuters) - Iran's nuclear ambitions, the civil war in Syria and stalled Israeli-Palestinian peace efforts will top the agenda of U.S. President Barack Obama's visit to Israel, Prime Minister Benjamin Netanyahu said on Sunday.


"It is a very important visit that will emphasize the strong alliance between Israel and the United States," Netanyahu, who has had a testy relationship with Obama, told his cabinet.


The White House announced on Tuesday that Obama plans to visit Israel, the West Bank and Jordan this spring, raising prospects of a new U.S. push to restart Israeli-Palestinian peace efforts frozen for the past two years.


The White House gave no exact dates for the trip, Obama's first to Israel since taking office. Israel's Channel 10 television station cited unnamed sources in Washington last week saying the visit to Israel would start on March 20.


In public remarks at the cabinet session, Netanyahu put Iran at the top of his list of talking points with Obama and referred only in general terms to peace efforts with the Palestinians, stopping short of setting a revival of bilateral negotiations as a specific goal of the visit.


"The president and I spoke about this visit and agreed that we would discuss three main issues ... Iran's attempt to arm itself with nuclear weapons, the unstable situation in Syria ... and the efforts to advance the diplomatic process of peace between the Palestinians and us," Netanyahu said.


U.S.-hosted negotiations between Israel and the Palestinians collapsed in September 2010 in a dispute over Israeli settlement-building in the occupied West Bank, land captured in a 1967 war and which Palestinians seek as part of a future state that includes Gaza and East Jerusalem.


Obama and Netanyahu discussed the coming trip in a January 28 telephone call.


COALITION TALKS


The visit will take place only after Netanyahu puts together a new governing coalition following his narrower-than-expected victory in Israel's January 22 election.


Netanyahu, who heads the right-wing Likud party, has begun talks with prospective political partners and still has up to five weeks to complete the process.


Citing the dangers Israel faces from the "earthquake that is happening around us", a reference to Arab upheaval in the region and the prospect of a nuclear-armed Iran, Netanyahu said Obama's visit now was particularly important.


Obama's tensions with Netanyahu have been aggravated by the Israeli leader's demands for U.S. "red lines" on Iran's nuclear program - something the president has resisted, though he has said military options are on the table if sanctions and diplomacy fail.


Iranian President Mahmoud Ahmadinejad said on Sunday that Tehran would not negotiate about its nuclear program under pressure, and would talk to its adversaries only if they stopped "pointing the gun".


Iran dismisses Western suspicions that its nuclear program is aimed at building weapons. Israel is widely believed to have the Middle East's only nuclear arsenal.


Netanyahu has insisted he will stick to the red line laid down in September, when he told the United Nations that Iran should not have enough enriched uranium to make even a single warhead.


He gave a rough deadline of summer 2013, and Israeli political commentators have speculated that Obama had opted to visit Israel before that date to caution Netanyahu against any go-it-alone attack against Iran's nuclear facilities.


Obama visited Israel as a presidential candidate in 2008 but drew Republican criticism for not travelling there in his first term. His Republican predecessor, former President George W. Bush, also waited until his second term to go to Israel.


(Editing by Matthew Tostevin)



Read More..

Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.


The S&P 500 also posted a sixth straight week of gains for the first time since August.


The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.


Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.


AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.


Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.


"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.


Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.


The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.


"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.


The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.


For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.


Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.


Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.


Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.


Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.


The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.


"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."


Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.


(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)



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Norway's Svindal wins downhill at Alpine worlds


SCHLADMING, Austria (AP) — Aksel Lund Svindal of Norway won the men's downhill title at the Alpine skiing world championships Saturday after a powerful run down the Planai course that no one came close to matching.


Watched by 33,000 spectators, Svindal kept a near-perfect line down the icy and bumpy 3.33-kilometer course despite foggy conditions that caused problems for several other skiers.


The Norwegian finished in 2 minutes, 1.32 seconds to win by nearly half a second and secure his second world downhill title, after also winning the marquee event in 2007. It was his fifth world title overall, to go with an Olympic gold in super-G.


Dominik Paris of Italy, who leads this season's World Cup downhill standings, trailed Svindal by 0.46 in second. David Poisson of France finished third, 0.97 behind.


"I knew I could not have skied better here," said Svindal, who raised both arms in the air and shouted out in celebration immediately after his run. "I took a lot of risks. It was a tough race. Visibility wasn't good and the course was difficult. At the finish, I was exhausted, in my head as well."


The rest of the field, led by Klaus Kroell of Austria in fourth, finished more than a second off Svindal's winning time.


The Norwegian had to settle for bronze in Wednesday's super-G, a discipline he has dominated on the World Cup this season, and said that gave him extra motivation for the downhill.


"Winning bronze was nice but I was also a bit frustrated," Svindal said. "I really pushed hard today and avoided major mistakes."


He was about the only one to do so, as most of his rivals struggled to maintain their racing line on the turning and icy bottom section.


The low final right turn seemed to cause the most problems, as many skiers had to slow down to make the final gate before the finish.


Andreas Romar of Finland, who started seventh, became the first to master that section flawlessly and was in the lead until Poisson came down.


When it was Svindal's turn, the Norwegian stretched his lead at every split time and was also near-perfect in the finish section.


Paris, who won the downhill races in Bormio and Kitzbuehel this season, lost time to the Norwegian toward the end but said he had "a great race."


"I tried to go for a medal but I didn't think I could do it," Paris said. "I saved energy in the upper part because I knew I needed it for that difficult finish section."


Poisson had never been on the podium on the World Cup or at a major championship before earning France a second medal this week, following Gauthier De Tessieres' silver in the super-G.


"This is really perfect. Gauthier started the week well for us," Poisson said. "I am proud of my run, I was fast and I went to my limits."


Kroell's fourth place left the home nation without a gold medal in a speed event of any major championship since the 2003 worlds, when Michael Walchhofer won the downhill and Stephan Eberharter the super-G.


Walchhofer's silver medal at the 2006 Turin Olympics downhill was the last speed medal for Austria.


"I am very disappointed," said Kroell, last season's World Cup downhill champion. "I had a big mistake early on and I didn't find my flow because of all the bumps. I just couldn't keep the line."


The women's downhill is Sunday.


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