Sina banks on Weibo but weak fourth quarter guidance spooks investors

(Reuters) – Chinese Internet company Sina Corp said its fourth quarter will be hit by a softer economy and posted weaker-than-expected sales guidance, despite a stronger revenue contribution from its hot microblogging platform Weibo.

Shares in Sina fell 7 percent after it forecast adjusted net revenue of $ 132 million to $ 136 million in the current quarter, below analysts’ expectations for $ 151.9 million according to Thomson Reuters I/B/E/S.

Sina, which makes most of its revenue from online advertising both on its website and Weibo, is facing stiff headwinds as firms slash advertising budgets due to a worsening economic outlook.

“We are going to see a weaker quarter for advertising overall in the fourth quarter,” said Charles Chao, Sina’s chief executive on an earnings conference call. The firm forecast Q4 advertising revenues would rise 6-8 percent from a year earlier.

Chao said Weibo contributed 16 percent to total revenue in the third quarter, up from 10 percent in the previous quarter. The platform, which is very popular with white-collar workers, university students and celebrities, had 424 million registered users at the end of the quarter, up from 368 million three months earlier.

Advertisers, like luxury brands, that traditionally don’t advertise with Sina’s main portal website flocked to Weibo to test out the social platform, Chao said.

There were about 230,000 Weibo advertising accounts in the quarter, and Sina was in the process of rolling out a online payment system and new Weibo advertising product to increase monetization at the end of the fourth quarter.

“We believe a ‘promoted feed advertising’ will become one of the major forms of (Weibo) advertising going forward,” said Chao, adding that the product will be effective also on mobile platforms, allowing Sina to tap into Weibo’s growth on mobile devices.

Q3 PROFIT BEAT

For the third quarter, Sina’s net profit was $ 9.9 million compared with a loss of $ 336.3 million a year earlier, and slighly ahead of analysts’ expectations of $ 7.5 million.

Sina’s quarterly advertising revenue rose 19 percent to $ 120.6 million, while non-advertising revenue rose 9 percent to $ 31.8 million.

The company started monetizing Weibo by offering special services to business accounts and selling VIP memberships to regular users earlier this year.

For its mobile-value-added-services business, Sina said it expects revenue to continue to decline due to new regulatory policies.

The company was also affected by a spat between Japan and China over islands in the East China Sea as Japanese automakers cut back on advertising in China. Chao said he expected the impact to last into the fourth quarter.

“It did have an impact on our third quarter as well as our fourth quarter. We did see cancellations from customers related to Japanese automobiles in the month of September and it impacted the fourth quarter (too),” Chao said.

Sina shares fell 6.74 percent to $ 49.52 in extended trading. They closed at $ 53.10 on the Nasdaq on Thursday.

(Additional reporting by Aurindom Mukherjee in Bangalore; Editing by Sriraj Kalluvila and Richard Pullin)

Internet News Headlines – Yahoo! News

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Matthew McConaughey Is Dreaming of the Perfect Cheeseburger

By Andrea Billups

11/16/2012 at 09:40 AM EST

Matthew McConaughey has dieted himself down to skin and bones for an upcoming movie, but when the five-week shoot is over, he's gunning for one thing: a po boy sandwich.

But if that can't be found, McConaughey, 43, says that he'll settle on a perfect cheeseburger, describing his decadent post-weight-loss meal down to the condiments.

“I will have some 70 percent beef, 30 percent fat ground beef, maybe a half pound cheeseburger with another three types of cheese," McConaughey, who is starring in the independent film, The Dallas Buyer's Club, tells Hitfix.com. "I'll prepare it all and I'll make sure that it takes three hours just to prepare."

The Texan also envisions just how he'll dress the long-awaited burger, and he plans to spare no calories.

"I'm going to have buns with butter on both sides, toasted and grilled," he said. "I'm going to melt the cheese on the top bun, Hellmann's Real Mayonnaise. I want kosher dill pickles sliced nice and thin, diced white onions, slightly grilled until they get almost hard, and some thin jalapeno slices. And then I'm just going to sit back and let the [expletive] just drop on the ground."

For now, though, the Magic Mike star reveals that he has gone from 170 to 143 pounds in his physical transformation. He is famous for his fitness and says while he's still doing some cardio, the trick to dropping the pounds at his age is all about diet. He's lost so much now, however, that he says he's not so hungry.

"Your organs and muscles shrink, your organs shrink and my stomach has shrunk as well," he reveals. "So, as much as I can't wait to have that cheeseburger on the day [shooting ends], it'll probably be damn hard to eat the whole thing."

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Migration officials say cholera in Haiti on rise

GENEVA (AP) — The world's largest agency that deals with global migration says cholera is again on the rise in Haiti.

The International Organization for Migration says Haitian officials have confirmed 3,593 cholera cases and another 837 suspected cases since Hurricane Sandy's passage.

IOM spokesman Jumbe Omari Jumbe told reporters Friday in Geneva "the numbers are going up" particularly in camps around the capital, Port-au-Prince.

He said his organization has responded by handing out about 10,000 cholera kits in 31 camps this week "badly hit by cholera in the area."

Cholera is a bacterial infection that spreads through water, and Haiti's lack of proper sanitation and sewage systems makes the country more vulnerable.

Haiti was spared a direct hit from Hurricane Sandy on Oct. 24, but received heavy rain for several days.

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Counselor forced girl, 15, into prostitution, DA says

A San Bernardino family counselor responsible for providing services to children and families also coerced a 15-year-old girl into prostitution and sold sexual services on the Internet, the San Bernardino County district attorney's office said Thursday.

Daron Lamar Whitworth, 42, worked for EMQ FamiliesFirst, a nonprofit that provides social services, mental-health and foster care for young children and families in San Bernardino County, authorities said. He was arrested without incident Thursday and booked into Central Detention Center in San Bernardino. 

Police have issued arrest warrants for two alleged accomplices: Whitworth's uncle Jacory C. Williams, 30, and Charmaine Williams, 24, both of San Bernardino. Charmaine Williams is in Los Angeles County Jail for unrelated reasons. 

Whitworth faces 44 charges, including felony counts of human trafficking, pimping and pandering a minor under 16, and unlawful sexual intercourse with a minor, according to court records. 

Investigators from the Riverside County Sheriff's Department began to gather evidence in August after the arrest of a juvenile for street prostitution in Hemet. The investigation gradually revealed that most of the unlawful activity had taken place in San Bernardino County, according to the release. 

Anyone with additional information or who believes they have been a victim is encouraged to contact Sgt. John Sawyer with the Riverside County Sheriff's Department at (951) 544-7000.

ALSO:

Cal State Chico suspends Greek life after student's death

Former O.C. Sheriff Carona wants prison sentence cut in half

Councilman wants more LAFD firehouses after Times investigation

-- Frank Shyong

twitter.com/frankshyong

Photo: Booking photo of Daron Lamar Whitworth, 42, of San Bernardino. Credit: San Bernardino County district attorney's office.

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Attacks Resume After Israeli Assault Kills Hamas Leader

KIRYAT MALACHI, Israel — Israel and Hamas widened their increasingly deadly conflict over Gaza on Thursday, as a militant rocket killed three civilians in an apartment block in this small southern town. The deaths are likely to lead Israel to intensify its military offensive on Gaza, now in its second day of airstrikes.

In Gaza, the Palestinian death toll rose to 11 as Israel struck what the military described as medium- and long-range rocket and infrastructure sites and rocket-launching squads. The military said it had dispersed leaflets over Gaza warning residents to stay away from Hamas operatives and facilities, suggesting that more was to come.

The regional perils of the situation sharpened, meanwhile, as President Mohamed Morsi of Egypt warned on Thursday that his country stood by the Palestinians against what he termed Israeli aggression, echoing similar condemnation on Wednesday.

“The Egyptian people, the Egyptian leadership, the Egyptian government, and all of Egypt is standing with all its resources to stop this assault, to prevent the killing and the bloodshed of Palestinians,” Mr. Morsi said in nationally televised remarks before a crisis meeting of senior ministers. He also said he had contacted President Obama to discuss strategies to “stop these acts and doings and the bloodshed and aggression.”

In language that reflected the upheaval in the political dynamics of the Middle East since the overthrow of Hosni Mubarak last year, Mr. Morsi said: “Israelis must realize that we don’t accept this aggression and it could only lead to instability in the region and has a major negative impact on stability and security in the region.”

The thrust of Mr. Morsi’s words seemed confined to diplomatic maneuvers, including calls to the United Nations secretary general, Ban Ki-moon, the head of the Arab League and President Obama.

In his conversation with Mr. Obama, Mr. Morsi said, he “clarified Egypt’s role and Egypt’s position; our care for the relations with the United States of America and the world; and at the same time our complete rejection of this assault and our rejection of these actions, of the bloodshed, and of the siege on Palestinians and their suffering.”

Mr. Obama had agreed to speak with Israeli leaders, Mr. Morsi said. Thursday’s deaths in Kiryat Malachi were the first casualties on the Israeli side since Israel launched its assault on Gaza, the most ferocious in four years, in response to persistent Palestinian rocket fire.

Southern Israel has been struck by more than 750 rockets fired from Gaza this year that have hit homes and caused injuries. On Thursday, a rocket smashed into the top floor of an apartment building in Kiryat Malachi, about 15 miles north of Gaza. Two women and a man were killed, according to rescue officials and Army Radio. A baby was among the injured and several Israelis were hospitalized with shrapnel wounds after rockets hit other southern cities and towns, they said.

The apartment house was close to a field in a blue-collar neighborhood and the rocket tore open top-floor apartments, leaving twisted metal window frames and bloodstains.

Nava Chayoun, 40, who lives on the second floor, said her husband, Yitzhak, ran up the stairs immediately after the rocket struck and saw the body of a woman on the floor. He rescued two children from the same apartment and afterward, she said, she and her family “read psalms.”

It was the first time that a building in Kiryat Malachi had been struck and the farthest north a projectile had landed in the current violence. With schools closed after Wednesday’s turmoil, residents said, many people had stayed home with their children.

Residents said people living on the lower floors of the apartment house had taken cover in stairwells, as the police urged residents to do when they heard warning sirens, but those on the top floor apparently had not. The police said 180 rockets had been fired at southern Israel since Wednesday.

Isabel Kershner reported from Kiryat Malachi, Israel, and Fares Akram from Gaza. Reporting was contributed by Rina Castelnuovo from Kiryat Malachi; Mayy El Sheikh and David D. Kirkpatrick from Cairo; Gabby Sobelman from Jerusalem; Rick Gladstone from New York; and Alan Cowell from Paris.

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Texas Instruments cuts 1,700 jobs, winds down tablet chips

NEW YORK/SAN FRANCISCO (Reuters) – Texas Instruments is eliminating 1,700 jobs, as it winds down its mobile processor business to focus on chips for more profitable markets like cars and home appliances.

Texas Instruments said in September it would halt costly investments in the increasingly competitive smartphone and tablet chip business, leading Wall Street to speculate that part of the company’s processor unit, called OMAP, could be sold.

The layoffs are equivalent to nearly 5 percent of the Austin, Texas-based company’s global workforce.

“A sale would have been better than a restructuring but a restructuring is certainly better than nothing,” Sanford Bernstein analyst Stacy Rasgon said.

TI has been under pressure in mobile processors, where it has lost ground to rival Qualcomm Inc. Leading smartphone makers Apple Inc and Samsung Electronics Co Ltd have been developing their own chips instead of buying them from suppliers like TI.

Instead of competing in phones and tablets, TI wants to sell its OMAP processors in markets that require less investment, like industrial clients like carmakers.

TI is expected to continue selling existing tablet and phone processors for products like Amazon.Com Inc‘s Kindle tablets for as long as demand remains, but stop developing new chips.

“This year, the Kindle runs on the OMAP 4 and next year’s Kindle is slated, we believe, for OMAP 5. We believe that program is well along to completion and do not expect that the termination of OMAP will disrupt those plans,” said Longbow Research analyst JoAnne Feeney.

Amazon had reportedly been in talks to buy the mobile part of OMAP.

TI said it expects to take charges of about $ 325 million related to the job cuts and other cost reduction measures, most of which will be accounted for in the current quarter. Its previously announced financial targets for the fourth quarter do not include these costs, TI said.

The company, which has 35,000 employees around the world, expects annualized savings of about $ 450 million by the end of 2013 from the action.

TI shares rose to $ 29 in after-hours trading after closing at $ 28.76, down 2 percent on Nasdaq.

(Reporting By Sinead Carew in New York and Noel Randewich in San Francisco; editing by Carol Bishopric)

Tech News Headlines – Yahoo! News

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Guy Fieri Defends Restaurant After New York Times Attack

By Stephen M. Silverman

11/15/2012 at 08:15 AM EST

After being fricasseed by The New York Times in a blistering restaurant review that a chef wouldn't wish upon his worst enemy, Guy Fieri says he's not canceling his subscription to the paper.

But the Food Network's Diners, Drive-Ins and Dives host – the 10th highest-paid chef in the country – is not taking the Times attack by food critic Pete Wells lying down, either.

"I just thought it was ridiculous," Fieri said on Thursday's Today show, after flying all night to appear on the program to defend his 2-month-old Guy's American Kitchen & Bar in Times Square, the target of Wells's scathing attack.

"I've read reviews. There's good and there's bad in the restaurant business," Fieri said. "That one went overboard."

The review lit up Facebook and Twitter as Wells skewered the service, food and drinks – one of which, a blue concoction (a margarita, actually), was likened to nuclear waste.

"And when we hear the words Donkey Sauce," Wells asked in his critique, written after four visits to the establishment, "which part of the donkey are we supposed to think about?"

"I've been in the restaurant business 25 years. Do we do it perfect? No. Do we strive to do it perfect? Yes," said Fieri, adding that Wells "came in with a different agenda."

Interviewer Savannah Guthrie pointed out that reviews of Guy's American Kitchen & Bar on Yelp were only mediocre at best, averaging two and a half stars out of a possible five. But Fieri replied, "People see me as a TV guy. I'm really a chef," and said of his restaurant, "I think that will change. It's two months now. Let's see where it is in six months."

Insisting that the restaurant – all 500 seats of it – is his heart and soul, Fieri went on say, "Do I think I've fallen short? By no means. [But] do we make mistakes? Absolutely."

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California backs a 'fiscal cliff' compromise — sort of, poll says

As America careens toward the year-end "fiscal cliff" with Democrats pressing for tax hikes and Republicans demanding budget cuts, California voters have one firm word for their elected officials:

Compromise.

By that they mean: Make the other side compromise.

In a survey that confirms the difficulty of coming up with popular ways to do unpopular things, a USC Dornsife/Los Angeles Times poll found that 3 in 5 Californians want their elected officials to "compromise with the opposite party, even if that means giving up some long-held positions."

But things foundered on the details.

When Democrats were asked whether cuts in Medicare and Social Security benefits should be offered to get Republican agreement on some tax hikes, or whether all reductions were off the table, they strongly opposed any benefit cuts.

When Republicans were asked whether some revenue hikes should be accepted to get Democrats to agree to benefit cuts, they just as firmly opposed any tax increases.

The independent voters in the middle sided with Democrats in saying that benefits should not be sacrificed for tax hikes. Only narrowly did they say that Republicans should agree to raise taxes as part of a budget deal that would also slice benefits.

In short, the state that is often cast as far out on the fringe of the nation's political thought demonstrated that it has at least this in common with everywhere else: defining compromise as a one-way street.

"People are in favor of compromise as long as other people are doing the compromising," said David Kanevsky of the Republican firm American Viewpoint, half of a bipartisan duo that conducted the poll for The Times and the USC Dornsife College of Letters, Arts and Sciences.

The poll also confirmed the outcome of last week's election, in which President Obama won a second romping victory in California. There was broad support for the president and his campaign proposal to raise taxes on incomes over $250,000 a year.

Given a choice of three options loudly debated in the campaign, 51% of Californians said the George W. Bush administration tax cuts set to expire at the end of the year should be left in place for those making less than that amount. Only 28% took the position espoused by Republican leaders that all of the tax cuts should remain in place. A smaller group still, 17%, said everyone's taxes should be raised to help cut the nation's deficit.

"This is a difficult problem to solve, but the president's agenda came out of this in a strong position in California," said Drew Lieberman of Greenberg Quinlan Rosner Research, the Democratic poll partner of American Viewpoint.

When budget options for the fight now brewing in Washington were proposed separately, California was generally in line with voters elsewhere in the nation. Voters took a measured approach to taxes, weren't keen on cutting the defense budget and objected strenuously to cuts in social programs, Medicare and Social Security. Essentially, they endorsed the stalemate that has blocked both parties from attacking the federal deficit.

Asked whether taxes should be raised wholesale, Californians objected, 54% to 43%. Anti-tax feelings were shared by unusual bedfellows: 79% of Republicans, 65% of Latinos, 60% of those making less than $50,000 a year.

Sentiment flipped when it came to raising taxes on those making more than $250,000 a year, an option supported by 67% of respondents; 31% opposed it. Most major demographic and ideological groups, except for Republicans, strongly backed such a move. Even those most directly affected — those making more than $100,000 — favored a tax hike by a 24-percentage-point margin.

When it came to budget cuts, Californians were split on whether to cut defense spending by $600 billion, as required in the budget deal agreed to by Obama and Republicans last year. Democrats backed the cuts by almost 2 to 1, while independent voters gave it narrow support and Republicans strongly objected.

No substitute cuts passed muster, however. Seventy percent of Californians rejected replacing the defense cuts with ones to spending on education and healthcare. All major groups but Republicans shared that view; Republicans were split on domestic cuts.

Objections ran even stronger to proposed reductions in Medicare and Social Security benefits, part of the turf on which the presidential campaign was fought. At least 4 in 5 white voters, Latinos and Democrats rejected such cuts, as did 75% of Republicans and independent voters.

"You have to feel bad for voters," said poll director Dan Schnur of the Jesse M. Unruh School of Politics at USC. "After a yearlong presidential campaign, no one has bothered to tell them that raising taxes on people making over $250,000 does not balance the federal budget. No one on either side.

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Ordering More Airstrikes, Syria Calls French Recognition of Rebels ‘Immoral’

Javier Manzano/Agence France-Presse — Getty Images

Smoke billowed from burning tires as a Syria rebel fired towards regime forces during clashes in the Al-Amariya district of Aleppo in Syria on Tuesday.

PARIS — Syrian authorities ordered airstrikes for a third consecutive day close to the tense Turkish border on Wednesday, and said a French decision to recognize and consider arming a newly formed Syrian rebel coalition was an “immoral” act “encouraging the destruction of Syria.”

The French move was depicted by analysts as an attempt to inject momentum into a broad Western and Arab effort to build a viable and effective opposition to hasten the end of a stalemated civil war which has further destabilized the Middle East. For its part, the United States on Wednesday signaled a reluctance to go beyond its characterization of the rebel alliance as a legitimate representative of the Syrian people, rather than as their sole representative.

Speaking in Perth, Australia, Secretary of State Hillary Rodham Clinton said Washington first wanted to see the coalition influencing events on the ground.

“As the Syrian opposition takes these steps and demonstrates its effectiveness in advancing the cause of a unified, democratic, pluralistic Syria, we will be prepared to work with them to deliver assistance to the Syrian people,” news reports quoted her saying.

At the same time, she announced $30 million in American humanitarian aid to feed people affected by the civil war, bringing the total American assistance to almost $200 million.

The airstrikes on Wednesday underscored the urgency of the diplomatic maneuvers. Journalists along the 550-mile border between Turkey and Syria near the Turkish border town of Ceylanpinar said they witnessed a Syrian airstrike in the adjacent Syrian town of Ras al-Ain, where rebels say they have ousted troops loyal to Mr. Assad. It was the third such strike there in as many days.

In response, Reuters reported, Turkey scrambled fighter jets to its southeastern border with Syria, recalling Turkey’s insistence that it will not refrain from a tougher reaction against Syria.

The official SANA news agency in Syria made no direct reference to the Western moves. But the deputy foreign minister, Faisal Muqdad, told the Agence France-Presse news agency that the establishment of the opposition coalition in Doha, Qatar, was a “ declaration of war.” "We read the Doha document and they reject any dialogue with the government."

Referring to the French recognition of the alliance, he said: “Allow me to use the word, this is an immoral position. They are supporting killers, terrorists and they are encouraging the destruction of Syria.”The announcement by President François Hollande on Tuesday made France the first Western country to fully embrace the new coalition, which came together this past weekend under Western pressure after days of difficult negotiations in Doha, Qatar.

The goal was to make an opposition leadership — both inside and outside the country — representative of the array of Syrian groups pressing for the downfall of President Bashar al-Assad. Although Mr. Assad is increasingly isolated as his country descends further into mayhem and despair after 20 months of conflict, he has survived partly because of the disagreements and lack of unity among his opponents. Throughout the conflict, the West has taken half measures and been reluctant to back an aggressive effort to oust Mr. Assad. This appears to be the first time that Western nations, with Arab allies, are determined to build a viable opposition leadership that can ultimately function as a government. Whether it can succeed remains unclear.

Mr. Hollande went beyond other Western pledges of support for the new Syrian umbrella rebel group, which calls itself the National Coalition of Syrian Revolutionary and Opposition Forces. But Mr. Hollande’s announcement clearly signaled expectations that if the group can establish political legitimacy and an operational structure inside Syria, creating an alternative to the Assad family’s four decades in power, it will be rewarded with further recognition, money and possibly weapons.

“I announce that France recognizes the Syrian National Coalition as the sole representative of the Syrian people and thus as the future provisional government of a democratic Syria and to bring an end to Bashar al-Assad’s regime,” said Mr. Hollande, who has been one of the Syrian president’s harshest critics.

As for weapons, Mr. Hollande said, France had not supported arming the rebels up to now, but “with the coalition, as soon as it is a legitimate government of Syria, this question will be looked at by France, but also by all countries that recognize this government.”

The six Arab countries of the Gulf Cooperation Council, including key opposition supporters Qatar and Saudi Arabia, recognized the rebel coalition on Monday as the legitimate Syrian government. Political analysts called Mr. Hollande’s announcement an important moment in the Syrian conflict, which began as a peaceful Arab Spring uprising in March 2011. It was harshly suppressed by Mr. Assad, turned into a civil war and has left nearly 40,000 Syrians dead, displaced about 2.5 million and forced more than 400,000 to flee to neighboring countries, according to international relief agencies.

Steven Erlanger reported from Paris, Rick Gladstone from New York, and Alan Cowell from Paris. Reporting was contributed by Neil MacFarquhar and Hwaida Saad from Beirut, Lebanon and Nick Cumming-Bruce from Geneva.

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James Van Der Beek Exposes What It's Like to Ride a Horse Bottomless

By Andrea Billups

11/14/2012 at 09:50 AM EST

The horse didn't seem to mind, but for the actor, climbing aboard and posing naked was a bit awkward.

"I’m not going to lie. I’ve never ridden bareback on a horse, let alone without pants, so that was new," James Van Der Beek – referring to Tuesday's special Sexiest Man Alive episode of his ABC sitcom Don't Trust the B–– in Apt. 23 – told PEOPLE at Tuesday's GQ magazine's 2012 Men of the Year Party, held at Hollywood's Chateau Marmont.

The episode, in which Van Der Beek ends up as PEOPLE's sexy cover guy after a prank is pulled on the magazine staff by the character Chloe (Krysten Ritter), featured a photo layout of the actor wearing only a shirt as he rides a horse.

"One shower later, it all was good," said the real Van Der Beek.

As the camera captured the moment, the actor's wife Kimberly Van Der Beek watched the nearly naked shoot – and described it as "surreal."

As for the photo subject himself, Van Der Beek, 35, said: "It was a lot of fun to do something that is tied to something so culturally relevant. "And just to ... drag PEOPLE into our own demented world on the show, and have you guys be such great sports about it, was a lot of fun."

So did his wife find it at all sexy, a nude ride on horseback? Not exactly, she said. She was more worried about his safety.

"I don't how sexy it is when there's, like, 30 people around," said Kimberly. "You have to be careful about how you're getting on that horse! I was more concerned."

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