Wall Street rises after Alcoa reports earnings

NEW YORK (Reuters) - Stocks rose on Wednesday, rebounding from two days of losses, as investors turned their focus to the first prominent results of the earnings season.

Stocks had retreated at the start of the week from the S&P 500's highest point in five years, hit last Friday, on worries about possible earnings weakness.

Shares of Alcoa Inc were down 0.5 percent to $9.08 after early gains, following the company's earnings release after the bell on Tuesday. The largest U.S. aluminum producer said it expects global demand for aluminum to grow in 2013.

Herbalife Ltd stock rose 4.2 percent to $39.95 in its most active day of trading in the company's history after hedge fund manager Dan Loeb took a large stake in the nutritional supplements seller. Prominent short-seller Bill Ackman had previously accused the company of being a "pyramid scheme," which Herbalife has denied.

Traders have been cautious as the current quarter shaped up like the previous one, with companies recently lowering expectations, said James Dailey, portfolio manager of Team Asset Strategy Fund in Harrisburg, Pennsylvania. Lower expectations leave room for companies to surprise investors even if their results are not particularly strong.

"The big question and focus is on revenue, and Alcoa had better-than-expected revenue," which calmed the market a little, Dailey said.

Overall, corporate profits were expected to beat the previous quarter's meager 0.1 percent rise. Both earnings and revenues in the fourth quarter are expected to have grown by 1.9 percent, according to Thomson Reuters data.

The Dow Jones industrial average <.dji> gained 61.66 points, or 0.46 percent, to 13,390.51. The Standard & Poor's 500 Index <.spx> rose 3.87 points, or 0.27 percent, to 1,461.02. The Nasdaq Composite Index <.ixic> gained 14.00 points, or 0.45 percent, to 3,105.81.

Facebook Inc shares rose above $30 for the first time since July 2012, trading up 5.3 percent at $30.59. Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its headquarters next week.

Clearwire Corp shares jumped 7.2 percent to $3.13 after Dish Network bid $2.28 billion for the company, beating out a previous Sprint offer and setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.

Apollo Group Inc slid after heavier early losses, a day after it reported lower student sign-ups for the third straight quarter and cut its operating profit outlook for 2013. Apollo's shares were last off 7.8 percent at $19.32.

Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.10 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.

Advancing stocks outnumbered declining ones on the NYSE by 2,014 to 963, while on the Nasdaq advancers beat decliners 1,603 to 859.

(Reporting by Gabriel Debenedetti; additional reporting by Angela Moon; Editing by Nick Zieminski)

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Venezuela court endorses Chavez inauguration delay

CARACAS (Reuters) - Venezuela's top court endorsed the postponement of Hugo Chavez's inauguration this week and ruled on Wednesday that the cancer-stricken president and his deputy would continue in their roles, despite a cacophony of opposition complaints.

Critics had argued the 58-year-old's absence from his own swearing-in ceremony on January 10 meant a caretaker president must be appointed. Chavez has not been seen in public nor heard from in almost a month following surgery in Cuba.

"Right now we cannot say when, how or where the president will be sworn in," Supreme Court Chief Judge Luisa Morales told a news conference.

"As president re-elect there is no interruption of performance of duties ... The inauguration can be carried out at a later date before the Supreme Court."

The decision opens the door in theory for Chavez to remain in office for weeks or months more from a Cuban hospital bed - though there is no evidence he is even conscious.

It leaves the South American country in the hands of Vice President Nicolas Maduro, as de facto leader of the government.

The opposition say that is a brazen violation of the constitution, and that Maduro should leave office on Thursday when the current presidential term had been due to expire.

They say National Assembly boss Diosdado Cabello, another powerful Chavez ally, should take over the running of the country while new elections would be organized within 30 days.

Maduro would be the ruling Socialist Party's candidate.

Government leaders insist Chavez, 58, is fulfilling his duties as head of state, even though official medical bulletins say he suffered complications after the surgery, including a severe lung infection, and has had trouble breathing.

His resignation or death would transform politics in the OPEC nation, where he is revered by poor supporters thankful for his social largesse, but denounced by opponents as a dictator.

RALLY PLANNED FOR THURSDAY

Moody's Investors Service warned on Wednesday that Venezuela's sovereign credit rating, already at junk status, faces short-term risks over any political transition.

Prices of Venezuela's widely traded bonds have soared lately on Chavez's health woes, but dipped this week as investors' expectations of a quick government change apparently dimmed.

The president has undergone four operations, as well as weeks of chemotherapy and radiation treatment, since being diagnosed with an undisclosed type of cancer in his pelvic area in June 2011.

He looked to have staged a remarkable recovery from the illness last year, winning a new six-year term at a hard-fought election in October. But within weeks of his victory he had to return to Havana for more treatment.

The government has called for a huge rally outside the Miraflores presidential palace in Caracas on Thursday, and allied leaders including Uruguay's Jose Mujica and Bolivia's Evo Morales have said they will visit - despite Chavez's absence.

Argentine President Cristina Fernandez, a close friend, has announced plans to visit Chavez in Cuba on Friday.

The unprecedented silence by Chavez, who is well known for his hours-long rambling speeches, has convinced many Venezuelans that his 14 years in power may be coming to an end.

Unlike after his previous operations in Cuba, no photographs have been published of him recuperating, and social media in Venezuela is buzzing with rumors he is on life support.

Cabello, the pugnacious head of the National Assembly, has repeatedly ruled out taking over as caretaker president to order a new presidential election, saying Chavez remains in charge.

"Tomorrow we will all go to the Miraflores palace," he told a televised Socialist Party meeting on Wednesday. "The people will be invested as president. We are all Chavez!"

(Additional reporting by Marianna Parraga and Diego Ore; Editing by Andrew Cawthorne)

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Men and Women of (Limited) Letters: Must-Follow Twitter Accounts of 2013

Scientific American editors voted in recent weeks on the 20 most informative Twitter accounts to stay abreast of the latest ideas, issues and developments in science and technology. We weeded through hundreds of lists and feeds to select the most brilliant and engaging, as well as the quirkiest of the bunch.Our picks are often witty, sometimes eccentric and occasionally silly, but each brings valuable insights to his or her area of expertise. For the latest, greatest tweets on science, technology, journalism, astronomy, physics, mathematics and more, check out these top 20 Twitter accounts of 2013, listed here in alphabetical order.

Must-Follow Twitter Accounts of 2013

Next » BBC Science @BBCscience

 Pay attention to BBC Science for breaking science and environmental news from a global perspective. Tweets are most often serious, with the occasional story about whether a toilet seat really is the dirtiest item in the house. The BBC offers variety suitable to both the casual consumer and the diehard nerd.

« Previous Intro

Must-Follow Twitter Accounts of 2013

Next » Deborah Blum @DeborahBlum

Deborah Blum’s tweets about poison, murder and other interesting articles and quips aren’t all that make her Twitter feed unique. It also stands out for her insights into science journalism. Blum often posts jobs, tips and tricks of the trade that will motivate any aspiring science blogger to break out the laptop and start posting.
By day, Sean Carroll is a theoretical physicist. By night he’s a “truth vigilante.” The Caltech researcher writes lofty pieces about eternity and dark matter, and tweets fascinating facts about his field.

 This NASA Twitter account gained notoriety when the car-size rover Curiosity landed on Mars in August 2012. With its witty persona, pop culture references and updates on its forays across the surface of the Red Planet, @MarsCuriosity is a must-follow for 2013—and the rest of its multiyear tour. Also check out the “Curiosity Explorer” badge on Foursquare and watch the rover’s New Year’s Eve message on YouTube
David Dobbs is an accomplished science journalist who is big on audience engagement in the new media milieu. His Twitter feed is punctuated with responses to readers weighing in on a wide variety of topics, especially cognitive science. Dobbs also tweets sporadically about his personal life and his work for Wired. He’s working on his fifth book.
Maryn McKenna, a specialist on food policy, public health and infectious disease, has built and cultivated a dedicated online following. Her tweets and posts are smart, quirky and highly informative. A seasoned science journalist, she uses social media to nerd out on a daily basis, so join in the geeky fun.
Former Scientific American special projects guru Christopher Mims isn’t shy. Opinionated and straightforward, the technology and sustainability journalist, now at QuartzNews, stays ahead of the pack. Mims frequently engages with his audience and uses crowd-sourcing to gather material for many of his stories.
Scientific American editors enjoy checking in on Nature News‘s hard-nosed, clever twitter feed.  One might suspect that our favor for it derives from the fact that Scientific American is also part of Nature Publishing Group, but we actually operate as editorially independent units. Follow Nature News especially for investigative reporting on science scandals and international science policy, as well as the latest important biomedical and physics news.

 Founder and CEO of O’Reilly Media Tim O’Reilly reports technology trends and comments on advocacy issues. His Twitter feed is dominated by references to Silicon Valley and e-book deals. Follow his tweets for insightful coverage of the technical world.
John Allen Paulos is a PhD with character. He’s wearing a bow tie in his profile picture, and his favored emoticon is a winking smiley face. Paulos’s tweets can be a tad cryptic for the layperson, but the mathematician has such a great sense of humor that you’re sure to laugh out loud at some point—even if you don’t quite understand the joke.
Accomplished blogger Phil Plait has just migrated his popular “Bad Astronomy” blog to Slate. The author, skeptic, father and punster primarily covers the ins and outs of the solar system. The best part about Plait’s Twitter feed is his daily #BAFact, wherein he throws strange-but-true scraps of science to his curious followers.

 Veteran science journalist Paul Raeburn has turned his eye in recent years to good-natured meta-media, covering science reporting itself for the Knight Science Journalism Tracker while also covering reseach on fatherhood. Raeburn takes reporters to task for sloppy thinking, points out inaccuracies and addresses ethical dilemmas. Follow his account just to read the back-and-forth between him and his targets.
Andy Revkin is a leader in the environmental reporting field, covering everything from fracking to global warming. Check out Revkin’s DotEarth blog in The New York Times too for his breaking news coverage—it’s all the environmental news that’s fit to cover.

 Science Friday, part of National Public Radio’s Talk of the Nation radio program, packs its Twitter feed with tantalizing links that just beg to be clicked on. @SciFri looks at daily news through a scientific lens, including live tweets to provide context during the weekly broadcast. The result is an entertaining bundle of scientific discoveries, intrigues and debunkings.
Scientific American‘s contributors are a brilliant group of reporters, bloggers and commentators, if you’ll pardon this moment of pride. Creativity, skepticism and authoritative context are a big part of what makes our coverage so engaging and worthwhile. Check out this Twitter list and follow your favorites.
Nate Silver, the most celebrated political statistician of the 2012 election, started out as a forecaster of baseball player performance. When he turned his attention to U.S. presidential elections, using statistical models to accurately predict what was thought to be unpredictable, he became a sensation. Although this past year’s electoral frenzy is behind us, Silver is still at work making predictions we’d be foolish to ignore.
Steven Strogatz holds the esteem of math wunderkinds as well as those who are iffy on formulas. He’s hardly a typical numbers-cruncher. The Cornell University professor has a knack for taking on complex topics and making them interesting, even to full-on mathphobes. In his recent book, The Joy of X, discussions range from the number of people one should date before settling down to how HBO’s The Sopranos can help us understand calculus. His Twitter account is similarly entertaining.
Not following Neil DeGrasse Tyson on Twitter? Beware: science nerds who don’t wake up each morning to the rational witticisms of NGT in their feed risk losing all geek cred. If you fit this description, please remedy that situation—now.
Blogger Ed Yong diligantly weaves a love of data into his prose, while still managing to craft posts that are accessible to readers with little to no science background. By covering new findings skeptically and tweeting prolifically, he has built a readership that relies on him for science news. Join the club.
A self-described “champion of underappreciated life-forms,” Carl Zimmer tends to tackle stories about parasites, viruses and quantum earthworms. Follow his feed, probably the most followed of any science writer, for solid reporting and captivating writing.

« Previous Ed Yong @EdYong209

Must-Follow Twitter Accounts of 2013

Restart the list » Introduction

Follow Scientific American on Twitter @SciAm and @SciamBlogs.Visit ScientificAmerican.com for the latest in science, health and technology news.
© 2013 ScientificAmerican.com. All rights reserved.
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David Bowie's New Single Is No Splashy Comeback

By Chuck Arnold

01/09/2013 at 05:00 PM EST

"Where Are We Now?" ponders a plaintive David Bowie on his comeback single after seemingly retiring from music. Indeed, this august, atmospheric ballad previews his first album in 10 years, The Next Day, due out March 12.

Out of nowhere the song was dropped in the middle of the night on Jan. 8 – which just happens to be Bowie's birthday (he turned 66). The low-key release certainly suits the understated tone of the tune, which is hardly the splashy comeback one might have expected from the glam god who was once Ziggy Stardust.

Instead, Bowie plays the reflective elder statesman dispensing some existential lyrics: "The moment you know, you know you know."

While the track – produced by Tony Visconti, who also worked on the star's Berlin Trilogy from 1977 to 1979 – ultimately doesn't give many answers, it at least tells us where Bowie has been lately. And it's a welcome return from one of our great rock heroes.

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Report: Death rates from cancer still inching down

WASHINGTON (AP) — Death rates from cancer are continuing to inch down, researchers reported Monday.

Now the question is how to hold onto those gains, and do even better, even as the population gets older and fatter, both risks for developing cancer.

"There has been clear progress," said Dr. Otis Brawley of the American Cancer Society, which compiled the annual cancer report with government and cancer advocacy groups.

But bad diets, lack of physical activity and obesity together wield "incredible forces against this decline in mortality," Brawley said. He warned that over the next decade, that trio could surpass tobacco as the leading cause of cancer in the U.S.

Overall, deaths from cancer began slowly dropping in the 1990s, and Monday's report shows the trend holding. Among men, cancer death rates dropped by 1.8 percent a year between 2000 and 2009, and by 1.4 percent a year among women. The drops are thanks mostly to gains against some of the leading types — lung, colorectal, breast and prostate cancers — because of treatment advances and better screening.

The news isn't all good. Deaths still are rising for certain cancer types including liver, pancreatic and, among men, melanoma, the most serious kind of skin cancer.

Preventing cancer is better than treating it, but when it comes to new cases of cancer, the picture is more complicated.

Cancer incidence is dropping slightly among men, by just over half a percent a year, said the report published by the Journal of the National Cancer Institute. Prostate, lung and colorectal cancers all saw declines.

But for women, earlier drops have leveled off, the report found. That may be due in part to breast cancer. There were decreases in new breast cancer cases about a decade ago, as many women quit using hormone therapy after menopause. Since then, overall breast cancer incidence has plateaued, and rates have increased among black women.

Another problem area: Oral and anal cancers caused by HPV, the sexually transmitted human papillomavirus, are on the rise among both genders. HPV is better known for causing cervical cancer, and a protective vaccine is available. Government figures show just 32 percent of teen girls have received all three doses, fewer than in Canada, Britain and Australia. The vaccine was recommended for U.S. boys about a year ago.

Among children, overall cancer death rates are dropping by 1.8 percent a year, but incidence is continuing to increase by just over half a percent a year. Brawley said it's not clear why.

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Wall Street slips as earnings season gets under way

NEW YORK (Reuters) - Stocks fell on Tuesday, retreating from last week's rally on the "fiscal cliff" deal in Washington, as companies started to report results for the fourth quarter.

After a 4.3 percent jump in the two sessions around the close of the fiscal cliff negotiations, the S&P has declined a bit, with investors finding few catalysts to extend the rally that took the benchmark to five-year highs.

"We had a brief respite, courtesy of what happened on the fiscal cliff deal and the flip of the calendar with new money coming into the market," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

Shares of AT&T Inc dropped 1.7 percent to $34.35, making it one of the biggest drags on the S&P 500, after the company said it sold more than 10 million smartphones in the quarter.

This figure beat the same quarter in 2011, but also means increased costs for the wireless service provider. Providers like AT&T pay hefty subsidies to handset makers so that they can offer discounts to customers who commit to two-year contracts.

Fourth-quarter profits are expected to beat the previous quarter's lackluster results, but analyst estimates are down sharply from October. Quarterly earnings are expected to grow by 2.7 percent, according to Thomson Reuters data. Dow component Alcoa, the largest U.S. aluminum producer, reported results after the closing bell.

The Dow Jones industrial average <.dji> dropped 55.44 points, or 0.41 percent, to 13,328.85. The Standard & Poor's 500 Index <.spx> fell 4.74 points, or 0.32 percent, to 1,457.15. The Nasdaq Composite Index <.ixic> lost 7.01 points, or 0.23 percent, to 3,091.81.

"The stark reality of uncertainty with regard to earnings, plus the negotiations on the debt ceiling, are there and that doesn't give investors a lot of reason to take bets on the long side," Hellwig said.

With AT&T's fall, the S&P telecom services index <.gspl> was the worst performer of the 10 major S&P sectors, down 2.7 percent.

Sears Holdings shares dropped 6.4 percent to $40.16 a day after the company said Chairman Edward Lampert would take over as CEO from Louis D'Ambrosio, who is stepping down due to a family member's health issue. The U.S. retailer also reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.

Markets went lower as some of the first reported earnings were weak.

"It doesn't seem to be bouncing back, it might stay here or sell off a little further," said Stephen Carl, head of U.S. equity trading at The Williams Capital Group in New York.

Shares of restaurant-chain operator Yum Brands Inc fell 4.2 percent to $65.04 a day after the KFC parent warned sales in China, its largest market, shrank more than expected in the fourth quarter.

GameStop was one of the worst performers on the S&P 500 as shares slumped 6.3 percent to $23.19 after the video game retailer reported low customer traffic for the holiday season and cut its guidance.

Shares of Monsanto Co gained 2.5 percent to $98.42 after reaching a more than four-year high at $99.99. The world's largest seed company raised its earnings outlook for fiscal year 2013 and posted strong first-quarter results.

Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.19 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.

Declining stocks outnumbered advancing ones on the NYSE by 1,495 to 1,458, while on the Nasdaq decliners beat advancers 1,305 to 1,158.

(Reporting by Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)

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U.S. does not rule out complete pullout from Afghanistan after 2014

WASHINGTON (Reuters) - The Obama administration does not rule out a complete withdrawal of U.S. troops from Afghanistan after 2014, the White House said on Tuesday, just days before President Barack Obama is due to meet Afghan President Hamid Karzai.

The comments by U.S. Deputy National Security Adviser Ben Rhodes were the first signal that, despite initial recommendations by the top military commander in Afghanistan to keep as many as 15,000 troops in the country, the final decision may be to remove everyone, as happened in Iraq in 2011.

Asked about consideration of a so-called zero-option once the NATO combat mission ends at the end of 2014, Rhodes said: "That would be an option that we would consider."

"Because again, the president does not view these negotiations as having a goal of keeping U.S. troops in Afghanistan," he added, saying the objective was to ensure the training and equipping of Afghan forces and combating al Qaeda.

Rhodes, lowering expectations of any breakthrough in the talks with Karzai at the White House on Friday, said it would be months before a final decision is made on troop levels.

In Iraq, Obama decided to pull out all U.S. forces after failing in negotiations with the Iraqi government to secure immunity for any U.S. troops who would remain behind.

The Obama administration is also insisting on immunity for any U.S. troops that remain in Afghanistan, and that unsettled question will figure in this week's talks between Obama and Karzai and their aides.

Jeffrey Dressler, an Afghanistan expert at the Washington-based Institute for the Study of War who favors keeping a larger presence in Afghanistan, questioned what battlefield conditions would allow for a complete U.S. pullout.

"I can't tell that they're doing that as a negotiating position ... or if it is a no-kidding option," Dressler said. "If you ask me, I don't see how zero troops is in the national security interest of the United States."

U.S. officials have said privately that the White House had asked for options to be developed for keeping between 3,000 and 9,000 troops in the country, a lower range than was put forward initially by General John Allen, the top U.S. and NATO commander in Afghanistan.

Allen suggested keeping between 6,000 and 15,000 troops in Afghanistan.

(Reporting By Matt Spetalnick and Phil Stewart; Editing by Eric Beech)

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Google offers New York City neighborhood free WiFi

(Reuters) – Google Inc and a New York redevelopment organization are providing a Manhattan neighborhood with free public WiFi Internet access, making it the largest area of coverage in New York City.

The search giant and the non-profit Chelsea Improvement Co are making Internet access available outdoors in Chelsea, which is home to Google’s New York offices and several technology start-ups.

The neighborhood is also home to many students, as well as residents of one of the city’s public housing developments.

Google does not plan to extend the program, a company spokesman said on Tuesday.

The company also provides free Internet access to the city of Mountain View, California, where its main campus is located.

New York City Mayor Michael Bloomberg and U.S. Senator Charles Schumer helped unveil the initiative.

(Reporting by Jennifer Saba in New York; Editing by Dan Grebler)

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Organ donations fall in Germany after scandal

BERLIN (AP) — Organ donations have dropped sharply in Germany following a scandal over alleged corruption at several transplant clinics.

The German Foundation for Organ Transplantation says the number of organs donated fell almost 13 percent to 3,917 last year, the lowest figure in a decade.

Several German clinics are being investigated over allegations that doctors manipulated waiting lists to help some patients appear sicker than they were and so receive transplants sooner.

The foundation said Monday that the scandal had "massively shaken" the public's faith in the transplant system.

Some 12,000 people in Germany require organ transplants each year.

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Wall Street edges off five-year high, awaits earnings

NEW YORK (Reuters) - Stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits.

Shares of financial companies dipped after a group of major U.S. banks agreed to pay a total of $8.5 billion to end a government inquiry into faulty mortgage foreclosures. The KBW bank index <.bkx>, a gauge of U.S. bank stocks, was down 0.3 percent.

Other sectors were hit as well, most notably energy and utilities. The S&P 500 energy sector index <.gspe> fell 0.8 percent and the utilities sector <.gspu> was off 1.1 percent.

The day's decline came a session after the S&P 500 finished at a five-year high, boosted by a budget deal and strong economic data. The S&P 500 rose 4.6 percent last week, the best weekly gain in more than a year.

"It's a little bit of taking some risk off the table ahead of profit season, you're not going to see anything all that great" on earnings, said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.

Earnings are expected to be only slightly better than the third-quarter's lackluster results, and analysts' current estimates are down sharply from where they were in October. Fourth-quarter earnings growth is expected to come in at 2.8 percent, according to Thomson Reuters data.

Aluminum company Alcoa Inc begins the reporting season by announcing its results after Tuesday's market close. Alcoa shares fell 1.7 percent at $9.10.

The Dow Jones industrial average <.dji> dropped 50.92 points, or 0.38 percent, to 13,384.29. The Standard & Poor's 500 Index <.spx> fell 4.58 points, or 0.31 percent, to 1,461.89. The Nasdaq Composite Index <.ixic> lost 2.84 points, or 0.09 percent, to 3,098.81.

Ten mortgage servicers - including Bank of America , Citigroup , JPMorgan , and Wells Fargo - agreed on Monday to pay $8.5 billion to end a case-by-case review of foreclosures required by U.S. regulators.

In a separate case, Bank of America also announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans.

The bank also entered into agreements with Nationstar Mortgage Holdings and Walter Investment Management to sell about $306 billion of residential mortgage servicing rights.

Bank of America shares lost 0.2 percent at $12.09 while Nationstar Mortgage Holdings jumped 16.8 percent to $38.83.

Citigroup shares were up 0.09 percent to $42.47, and Wells Fargo shares fell 0.5 percent to $34.77.

"The financials probably have the wind behind them now with a lot of the regulations coming out ... the market has to absorb a lot of the gains, and for that reason there's a pullback from this level," said Warren West, principal at Greentree Brokerage Services in Philadelphia.

Shares of U.S. jet maker Boeing Co dropped 2 percent after a Boeing 787 Dreamliner aircraft with no passengers on board caught fire at Boston's Logan International Airport on Monday morning.

Amazon.com shares hit their highest price ever at $269.22 after Morgan Stanley raised is rating on the stock. Shares were up 3.6 percent at $268.46.

Video-streaming service Netflix Inc shares gained 3.4 percent to $99.20 after it said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.

Walt Disney Co stock fell 2.3 percent to $50.97. The company started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.

Volume was lower than average, as 4.78 billion shares were traded on the New York Stock Exchange, NYSE MKT and Nasdaq. This is well below the 2012 average of 6.42 billion per session.

Declining stocks outnumbered advancing ones on the NYSE by 1,629 to 1,363, while on the Nasdaq decliners beat advancers 1,438 to 1,066.

(Reporting By Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)

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