Clashes Erupt in Damascus, Shattering Lull, as Prospects for Talks Dim


Goran Tomasevic/Reuters


A building in the Damascus suburb of Zamalka was hit by a mortar shell fired by the Syrian Army on Wednesday.







BEIRUT, Lebanon — Syrian insurgents attacked military checkpoints and other targets in parts of central Damascus on Wednesday, antigovernment activist groups reported. The fighting shattered a lull there as prospects for any talks between the antagonists appeared to dim, a week after the opposition coalition leader first proposed the surprise idea of a dialogue aimed at ending the war.




Some antigovernment activists described the resumption of fighting, which had lapsed for the past few weeks, as part of a renewed effort by rebels to seize control of central Damascus, the Syrian capital, although that depiction seemed highly exaggerated. Witness accounts said many people were going about their business, while others noted that previous rebel claims of territorial gains in Damascus had almost always turned out to be embellished or unfounded.


Representatives of the Military Council of Damascus, an insurgent group, said that at least 33 members of President Bashar al-Assad’s security forces in Damascus had surrendered, while others had fled central Al Abasiyeen Square, and that other forces had erected roadblocks on all access streets to the area to thwart the movement of rebel fighters.


Salam Mohammed, an activist in Damascus, described Al Abasiyeen Square as “on fire,” and a video clip uploaded on YouTube showed a thick column of black smoke spiraling over the area while the sound of shelling could be heard. A voice is heard saying the shelling had started a fire. The Local Coordination Committees, an anti-Assad activist network in Syria, also reported gunfire in nearby streets.


Firas al-Horani, a military council spokesman, said fighters of the Free Syrian Army, the main armed opposition group, were in control of Al Abasiyeen Square. He also said, “The capital, Damascus, is in a state of paralysis at the moment, and clashes are in full force in the streets.”


It was impossible to confirm Mr. Horani’s assertions or the extent of the fighting because of Syrian government restrictions on foreign news organizations. But Syria’s state-run media said insurgent claims of combat success in Damascus were false. “Those are miserable attempts to raise the morale of terrorists who are fleeing our valiant armed forces,” said SANA, the official news agency.


Deadly violence also was reported in the Homs Province town of Palmyra, the site of a notorious prison where Mr. Assad’s father, Hafez, ordered the summary execution of about 1,000 prisoners during an uprising against his family’s grip on power in the 1980s.


The Syrian Observatory for Human Rights, a Britain-based group with a network of contacts inside Syria, said two booby-trapped cars exploded near the military intelligence and state security branches, killing at least 12 members of the security forces and wounding more than 20. The observatory said government forces deployed throughout Palmyra afterward, engaging in gun battles with insurgents that left at least eight civilians wounded in the cross-fire.


SANA also reported an attack but said it was caused by two suicide bombers who had targeted a residential part of the town, killing an unspecified number of civilians.


The new mayhem came as discord appeared to grow within the National Coalition of Syrian Revolutionary and Opposition Forces, the umbrella anti-Assad group, over a proposal made on Jan. 30 by Sheik Ahmad Moaz al-Khatib, its leader, to engage in talks with Mr. Assad’s government aimed at ending the nearly two-year-old conflict, which has left more than 60,000 people dead. Although Sheik Khatib’s proposal contained a number of conditions, it broke a longstanding principle that Mr. Assad must relinquish power before any talks can begin.


Many of Sheik Khatib’s colleagues grudgingly agreed to go along with the proposal after it had been made, but critical voices have been rising, especially among the coalition’s more militant elements.


In a new video uploaded on YouTube, a cleric from the Nusra Front, an anti-Assad Islamist militant group that the Obama administration has classified as a terrorist organization, said in a prayer speech that brute force against Mr. Assad and his disciples was the only solution.


“We will cut their heads, we swear to kill them all, and they will see our worst war,” said the cleric, who spoke in Libyan-accented Arabic at a mosque in the contested northern city of Aleppo, holding a sword in his right hand. “No for the negotiations, no for the talks, no retreat in a jihad for God’s sake.”


Hania Mourtada reported from Beirut, and Rick Gladstone from New York. Karam Shoumali contributed reporting from Antakya, Turkey.



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Harley Pasternak Blogs About the Surprising Ways Alcohol Can Hurt Your Diet






Celebrity Blog










02/06/2013 at 02:00 PM EST







Harley Pasternak


Courtesy Harley Pasternak


Last week, country singer Tim McGraw made a splash when PEOPLE magazine featured an article about his complete physique transformation.

What I found most interesting about Tim's turn around was his revelation that drinking had been the primary roadblock. Tim realized that his alcohol intake not only added more girth to his gut, but it led to his poor dietary decisions, and sapped his desire to work out.

Tim also went on to explain how his family was the main reason behind his decision to give up drinking, get healthy, and be a positive/healthy role model. And he looks better than he ever has at 45!

There is a lot of conflicting information and opinion out there about alcohol and its role in weight gain. If I had a penny for every person who's told me about all the research showing how a glass of wine a day can actually be heart healthy (but that same person goes on to drink four beers with their glass of wine a day), I'd have a lot of pennies!

Believe it or not, the extra calories from alcohol is not the primary reason people gain weight when the drink too much or too often. In fact, it's a distant third.

I don't want to be a total killjoy and say that you can never have a drink again, but I don't want you to sabotage all your hard work to be healthier with alcohol, either. Let's take a look at how alcohol can undermine your weight-loss efforts.

1. ALCOHOL DIMINISHES YOUR BODY'S ABILITY TO BURN FAT
When you drink alcohol, it's broken down into acetate, which your body burns for energy first – before any other calorie source or stored fat. So the energy that we expend when we have alcohol in our system is coming from the alcohol, not the other carbohydrates or fats which have to be stored if they're not burned.

In plain English? Alcohol squashes our ability to burn fat. In fact, a study published in the American Journal of Clinical Nutrition found subjects who consumed less than an ounce of alcohol over a 30-minute time period decreased their body's ability to burn fat by 73 percent!

2. ALCOHOL WEAKENS OUR INHIBITIONS
Many of my clients tell me that they find themselves straying from their healthy eating habits when they've had a couple of drinks. When we drink alcohol, the functions our bodies use to tell us when we're full and when to stop eating are dulled. So not only are we more likely to give into temptation, we're also less likely to be able to tell when we've had enough.

In a UK Study that looked at alcohol's effect on calorie consumption, those who had the equivalent of two drinks ate up to 30% more. Building on that same principle, a Dutch study found that it took subjects longer to feel full when they drank alcohol before a meal, when compared to those who had a non-alcoholic beverage prior to eating. To put it simply, when we drink alcohol, we're more likely to eat too much of the wrong things.

3. ALCOHOL IS LOADED WITH CALORIES
Alcohol has nearly twice as many calories per gram as protein or carbohydrates. We've all read about the surprising calorie counts of our favorite alcoholic beverages – 740 calories in a margarita! 210 in a cosmopolitan! But even if you cut out the sugary mixers and liqueurs used in your favorite cocktails, you're still consuming a lot of empty calories. Remember: alcohol is not an essential nutrient. Any calorie we consume from alcohol is completely valueless.

4. ALCOHOL PREVENTS ABSORPTION OF VITAL NUTRIENTS
When we drink alcohol, the body shifts gears and focuses its energies on expelling the alcohol, which leaves little time for it to perform its other necessary functions, like processing vitamins and minerals and maintaining blood glucose levels, which are integral to maintaining a healthy metabolism. So not only does alcohol not have any nutrient value of its own, it also makes your body less able absorb and process nutrients that are valuable to you. So when we drink, those superfoods that we're trying to include in our diets become a whole lot less super.

5. ALCOHOL PREVENTS US FROM GETTING A GOOD NIGHT'S SLEEP
If you read my blog post on sleep's impact on our weight and bodies as a whole, you understand how important sleep is to our weight and overall health. Alcohol affects the quality of our sleep in a number of ways, from increased waking to shallower sleep, to pain due to heartburn caused by inflammation of your digestive system.

Not only that, but you can develop a dependence on alcohol to fall asleep, which actually works against you because it may help you fall asleep, but it won't help you get good quality sleep.

Has alcohol affected your diet efforts? Tweet me @harleypasternak – and let me know.

Check back every Wednesday for more insider tips from celebrity trainer Harley Pasternak on Hollywood's hottest bodies – and learn how to get one yourself! Plus: Follow Harley on Twitter at @harleypasternak

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Critics seek to delay NYC sugary drinks size limit


NEW YORK (AP) — Opponents are pressing to delay enforcement of the city's novel plan to crack down on supersized, sugary drinks, saying businesses shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.


With the rule set to take effect March 12, beverage industry, restaurant and other business groups have asked a judge to put it on hold at least until there's a ruling on their lawsuit seeking to block it altogether. The measure would bar many eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces.


"It would be a tremendous waste of expense, time, and effort for our members to incur all of the harm and costs associated with the ban if this court decides that the ban is illegal," Chong Sik Le, president of the New York Korean-American Grocers Association, said in court papers filed Friday.


City lawyers are fighting the lawsuit and oppose postponing the restriction, which the city Board of Health approved in September. They said Tuesday they expect to prevail.


"The obesity epidemic kills nearly 6,000 New Yorkers each year. We see no reason to delay the Board of Health's reasonable and legal actions to combat this major, growing problem," Mark Muschenheim, a city attorney, said in a statement.


Another city lawyer, Thomas Merrill, has said officials believe businesses have had enough time to get ready for the new rule. He has noted that the city doesn't plan to seek fines until June.


Mayor Michael Bloomberg and other city officials see the first-of-its-kind limit as a coup for public health. The city's obesity rate is rising, and studies have linked sugary drinks to weight gain, they note.


"This is the biggest step a city has taken to curb obesity," Bloomberg said when the measure passed.


Soda makers and other critics view the rule as an unwarranted intrusion into people's dietary choices and an unfair, uneven burden on business. The restriction won't apply at supermarkets and many convenience stores because the city doesn't regulate them.


While the dispute plays out in court, "the impacted businesses would like some more certainty on when and how they might need to adjust operations," American Beverage Industry spokesman Christopher Gindlesperger said Tuesday.


Those adjustments are expected to cost the association's members about $600,000 in labeling and other expenses for bottles, Vice President Mike Redman said in court papers. Reconfiguring "16-ounce" cups that are actually made slightly bigger, to leave room at the top, is expected to take cup manufacturers three months to a year and cost them anywhere from more than $100,000 to several millions of dollars, Foodservice Packaging Institute President Lynn Dyer said in court documents.


Movie theaters, meanwhile, are concerned because beverages account for more than 20 percent of their overall profits and about 98 percent of soda sales are in containers greater than 16 ounces, according to Robert Sunshine, executive director of the National Association of Theatre Owners of New York State.


___


Follow Jennifer Peltz at http://twitter.com/jennpeltz


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Wall Street stymied as investors lack catalysts to trade

NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as investors, without any major economic reports to guide them, awaited fresh incentives to trade after rallies took the S&P 500 to five-year highs.


Transportation stocks were among the worst performers, weighed down by a 10 percent drop in CH Robinson Worldwide to $60.40 after the freight transport company posted a lower-than-expected adjusted quarterly profit.


The Dow Jones Transportation index <.djt> shed 0.3 percent after closing at a record high Tuesday for a gain of more than 10 percent in 2013.


The benchmark S&P 500 index has advanced 6 percent this year, climbing to its highest since December 2007. The Dow industrials <.dji> have risen above 14,000 recently, making it a challenge for investors to push stocks higher in the absence of strong positive catalysts.


"Overall, we believe that the next near-term market dip should provide an opportunity to buy stocks ahead of rallies higher in the coming months, but we are skeptical about the long-term sustainability of these gains due to the maturing age of the bull market," said Ari Wald, equity research analyst at C&Co\PrinceRidge in New York.


The Dow Jones industrial average <.dji> was up 5.28 points, or 0.04 percent, at 13,984.58. The Standard & Poor's 500 Index <.spx> was up 0.56 point, or 0.04 percent, at 1,511.85. The Nasdaq Composite Index <.ixic> was up 1.67 points, or 0.05 percent, at 3,173.25.


The tech-heavy Nasdaq index was supported by Apple Inc , which rose 1.1 percent to $462.62.


Walt Disney Co was among the bright spots, up 1.1 percent at $60.31, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.


According to Thomson Reuters data through Wednesday morning, of 301 companies in the S&P 500 <.spx> that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.


Looking ahead, fourth-quarter earnings for S&P 500 companies are expected to grow 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


The benchmark S&P index rose 1.04 percent Tuesday, its biggest percentage gain since a 2.5-percent advance on January 2 after lawmakers agreed on a temporary delay of the "fiscal cliff."


Ralph Lauren Corp climbed 8 percent to $178.15 as the best performer on the S&P 500 after reporting renewed momentum in its holiday-quarter sales and profits.


Time Warner Inc jumped 4.4 percent to $52.15 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in its film, TV entertainment and publishing units.


Visa , the world's largest credit and debit card network, is expected to report earnings per share of $1.79 for its first quarter, up from $1.49 a year earlier. Smaller rival MasterCard MA.N recently reported better-than-expected results but said its revenue growth could slow in the first half of the year due to economic uncertainty.


(Editing by Bernadette Baum and Kenneth Barry)



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The Lede Blog: North Korean Propaganda Video Uses 'Call of Duty' and 'We Are the World' to Imagine a Brighter World, Without Manhattan

When aliens strike, the climate goes berserk, the Russians invade, an asteroid threatens the Earth, New York City is often the first place to be destroyed. Hollywood has long used the city’s skyline to demonstrate what destruction looks like in action movies and video games. It seems as if North Korea, in seeking to show how an assault on America would play out, also has Manhattan squarely in its cross hairs.

A new propaganda video, posted Sunday on a Web site and a YouTube channel that serve as outlets for North Korean state media, shows a computer-animated representation of Lower Manhattan in flames as bombs rain down.

A video posted on a North Korean YouTube channel this week features images of Manhattan in flames.

As a blogger for Kotaku reports, the attack on Manhattan is lifted straight from the video game “Call of Duty: Modern Warfare 3,” and unfolds as a sweeping instrumental version of “We Are the World” plays in the background.

The cartoonish propaganda clip is one of a slew of recent videos that have been released by North Korea to promote the country’s missile program. Although the video might make some observers laugh, the tension over North Korea’s nuclear ambitions and missile program is deadly serious.

The United Nations Security Council voted on Jan. 22 to tighten sanctions against North Korea as punishment for a Dec. 12 rocket launch. In response, the North vowed to expand its nuclear program “both quantitatively and qualitatively” and conduct a third nuclear test at a “higher level.”

As our colleagues David Sanger and William Broad reported after December’s successful missile launch by North Korea, there is no evidence that the country currently has technology that can threaten the continental United States – much less New York.

Administration officials said that while the launching was successful — and advanced the North’s missile program — it was hardly a threat to the United States, despite a warning by Robert M. Gates in 2011, when he was secretary of defense, that the North would have a missile capable of reaching the United States by 2016.

The video begins with an image of a man in blue pajamas sleeping. He recounts a dream in words that appear on the screen. “I had a dream last night, a dream of soaring into space on board our Unha-9 rocket,” the man says.

Unha, Korean for galaxy, is the name of the North Korean rocket series. The latest one, launched in December, was the Unha-3. So the dreamer is imagining a future, more advanced version of the rocket. After first showing footage of a real rocket launch, the video shifts to animation.

“Our Kwangmyongsong-21 spacecraft got separated from the rocket and traveled through space,” he says.

Once again, the dream appears to show the advances North Korea hopes to make in the years to come. In December, the satellite launched by the North was rocket number 3. By the time the series reaches 21 in the man’s dream, the rocket looks like the American space shuttle. The animation at that point shows the spacecraft circling the globe in search of its target, the music from “We are the World” building as it moves closer to the United States.

“I see stars and the green Earth. I also see a unified Korea.” These words appear on screen as the video moves from animation back to real footage of people waving flags, in particular, a “Korea-is-one” flag. The video shows a unified, not divided, Korean Peninsula in blue, a symbol of Korean reunification.

Then the video shows an overhead image of New York draped in the American flag. “Meanwhile, I see black smoke rising somewhere in America,” the dreaming man says. “It appears that the headquarters of evil, which has had a habit of using force and unilateralism and committing wars of aggression, is going up in flames it itself has ignited.”

At this point in the video, the computer-animated scene copied from “Call of Duty” show Lower Manhattan in flames.

“Just imagine riding in a Korean spaceship. One day, my dream will come true,” the narrator says. “No matter how hard the imperialists try to isolate and stifle us, they will not stop our people’s path toward our final victory of achieving a unified, strong and prosperous Korea.”

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Tim McGraw Visits The Ellen DeGeneres Show - Sans Underwear!















02/05/2013 at 01:45 PM EST



TMI, Tim McGraw!

Ellen DeGeneres has been known to hand out underwear with her show's name on it to her famous guests. And McGraw, who makes an appearance on Tuesday's episode, is seen wearing them in a photo taken while he was out for a jog.

"Are you wearing them right now?" DeGeneres asked the sexy country star, 45, who appeared on the latest issue of PEOPLE.

"No," McGraw answered.

"Why not?" DeGeneres asked.

"These pants were too tight to put underwear on," he explained. "Now I've really embarrassed my daughters ... what was I supposed to say?"

"It's always good to be honest around here," DeGeneres said. "Well, you look good."

McGraw – who has three daughters (Gracie Katherine, 15, Maggie Elizabeth, 14, and Audrey Caroline, 11) with wife Faith Hill – also spoke on his decision to get sober.

"When it gets to the point where you think it’s affecting you adversely and it’s affecting your relationships adversely, it’s time to make a change and I thought it was," he said. "I also thought my girls are getting older and I certainly wanted to have some good solid ground to stand on when I started talking to them about their situations."

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Critics seek to delay NYC sugary drinks size limit


NEW YORK (AP) — Opponents are pressing to delay enforcement of the city's novel plan to crack down on supersized, sugary drinks, saying businesses shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.


With the rule set to take effect March 12, beverage industry, restaurant and other business groups have asked a judge to put it on hold at least until there's a ruling on their lawsuit seeking to block it altogether. The measure would bar many eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces.


"It would be a tremendous waste of expense, time, and effort for our members to incur all of the harm and costs associated with the ban if this court decides that the ban is illegal," Chong Sik Le, president of the New York Korean-American Grocers Association, said in court papers filed Friday.


City lawyers are fighting the lawsuit and oppose postponing the restriction, which the city Board of Health approved in September. They said Tuesday they expect to prevail.


"The obesity epidemic kills nearly 6,000 New Yorkers each year. We see no reason to delay the Board of Health's reasonable and legal actions to combat this major, growing problem," Mark Muschenheim, a city attorney, said in a statement.


Another city lawyer, Thomas Merrill, has said officials believe businesses have had enough time to get ready for the new rule. He has noted that the city doesn't plan to seek fines until June.


Mayor Michael Bloomberg and other city officials see the first-of-its-kind limit as a coup for public health. The city's obesity rate is rising, and studies have linked sugary drinks to weight gain, they note.


"This is the biggest step a city has taken to curb obesity," Bloomberg said when the measure passed.


Soda makers and other critics view the rule as an unwarranted intrusion into people's dietary choices and an unfair, uneven burden on business. The restriction won't apply at supermarkets and many convenience stores because the city doesn't regulate them.


While the dispute plays out in court, "the impacted businesses would like some more certainty on when and how they might need to adjust operations," American Beverage Industry spokesman Christopher Gindlesperger said Tuesday.


Those adjustments are expected to cost the association's members about $600,000 in labeling and other expenses for bottles, Vice President Mike Redman said in court papers. Reconfiguring "16-ounce" cups that are actually made slightly bigger, to leave room at the top, is expected to take cup manufacturers three months to a year and cost them anywhere from more than $100,000 to several millions of dollars, Foodservice Packaging Institute President Lynn Dyer said in court documents.


Movie theaters, meanwhile, are concerned because beverages account for more than 20 percent of their overall profits and about 98 percent of soda sales are in containers greater than 16 ounces, according to Robert Sunshine, executive director of the National Association of Theatre Owners of New York State.


___


Follow Jennifer Peltz at http://twitter.com/jennpeltz


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S&P 500 gains more than 1 percent


NEW YORK (Reuters) - The S&P 500 rose more than 1 percent on Tuesday as stronger-than-expected earnings helped the outlook for profit growth while the Nasdaq also traded more than 1 percent higher.


The Dow Jones industrial average <.dji> was up 121.55 points, or 0.88 percent, at 14,001.63. The Standard & Poor's 500 Index <.spx> was up 16.25 points, or 1.09 percent, at 1,511.96. The Nasdaq Composite Index <.ixic> was up 38.08 points, or 1.22 percent, at 3,169.25.


(Reporting By Caroline Valetkevitch; Editing by Chizu Nomiyama)



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Europol Investigation Shows Fixing Is Suspected in 680 Soccer Matches





Soccer is known throughout much of the world as the beautiful game. But the sport’s ugliest side — the scourge of match-fixing — will not go away.




With next summer’s World Cup in Brazil drawing closer, a European police intelligence agency said Monday that a 19-month investigation revealed widespread occurrences of match-fixing in recent years, with nearly 700 games globally deemed suspicious. The list of matches is staggering and encompasses about 380 games in Europe, covering World Cup and European championship qualifiers, as well as Champions League games, including one match played in England.


Officials of Europol, an agency that works with countries across the continent, offered details that strike at the sport’s core: nearly $11 million in profits and nearly $3 million in bribes were discovered during the investigation, which uncovered “match-fixing activity on a scale we have not seen before,” said Rob Wainwright, the director of Europol.


Fixers typically seek to dictate a game’s result by corrupting the players or the on-field officials, and officials said Monday that roughly 425 people were under suspicion because of the investigation, with 50 people having been arrested. The scope of the investigation covered games from 2008 to 2011.


An organized crime syndicate based in Asia is believed to be the driving force behind the fixing activity, which stretches across at least 15 countries, officials said. Individual bribes were, in some instances, upward of $136,000, and fixers would place bets on the tainted matches through bookmakers in Asia. Various matches in Africa, Asia and South and Central America were identified as suspicious, though the European element of the investigation is the most significant.


“This is a sad day for European football,” Wainwright said at a news conference in the Netherlands, adding: “It is clear to us this is the biggest-ever investigation into suspected match-fixing in Europe. It has yielded major results, which we think have uncovered a big problem for the integrity of football in Europe.”


But officials at the news conference repeatedly dodged questions from reporters on how many of the 680 matches cited were previously known and how many were newly discovered.


Nor would they identify any of the teams and individuals newly linked to match-fixing, citing the need to guard the confidentiality of police procedures.


Still, the breadth of the investigation was significant, and it inspired strong reactions from global fans. Even as the news conference continued, fans took to social media to speculate on which matches might have been fixed, with a particular fascination as to what English Champions League contest drew the investigators’ scrutiny. Indeed, the notion that corruption has been identified in British soccer, home of the English Premier League, the world’s most popular grouping, will reverberate globally.


“It would be naïve and complacent of those in the U.K. to think such a criminal conspiracy does not involve the English game and all the football in Europe,” Wainwright said.


Europol and Interpol officials said an international arrest warrant had been issued for the ringleader of the Asian syndicate so that he can be extradited to Europe to face fraud and bribery charges.


Europol did not publicly identify the ringleader, but several knowledgeable law enforcement officials later said on condition of anonymity that it was a man based in Singapore known as Dan Tan. They said Tan had been implicated in match-fixing cases dating to 1999.


The conclusion of Europol’s investigation comes after a slew of high-profile incidents. Last month FIFA, the sport’s governing body, barred 41 players for fixing matches in South Korea; in December 2012 the president of the South African Football Association was suspended after FIFA determined that four exhibition matches before the 2010 World Cup had been fixed; and last summer a complex match-fixing network was discovered in Italy, rocking that country’s high-profile professional leagues.


David Jolly contributed reporting from The Hague.



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BlackBerry shares jump after Bernstein upgrades stock






TORONTO (Reuters) – Shares of BlackBerry rose more than 8 percent in on Monday after Bernstein Research said it was upgrading the stock to “outperform” after last week’s launch of the company’s new line of BlackBerry 10 smartphones.


The brokerage firm, which has not had an “outperform” rating on the stock for more than three years, also lifted its price target to $ 22 from $ 12, saying it has grown much more confident about the success of the smartphones, powered by the new BlackBerry 10 operating system.






Shares of BlackBerry, which is in the process of changing its legal name from Research In Motion, rose 8.9 percent to $ 14.18 in early Nasdaq trading. BlackBerry’s Toronto-listed shares were up 9.1 percent at C$ 14.21 at 10:30 EST.


The stock began trading under the “BBRY” symbol on Nasdaq on Monday and under the “BB” symbol on the Toronto Stock Exchange. The stock used to trade as “RIMM” on the Nasdaq and “RIM” on the TSX.


“We upgrade BlackBerry to outperform today as we believe BB 10 is set for a strong launch,” Bernstein analyst Pierre Ferragu said in a note to clients. “Even if the long-term prospects for the platform are very uncertain, we believe all is in place for BlackBerry 10 to enjoy a great debut.”


BlackBerry, a one-time pioneer in the smartphone industry, has ceded market share in recent years to the likes of Apple’s iPhone, Samsung’s Galaxy line and a slew of devices powered by Google Inc’s market-leading Android operating system.


In a make-or-break move to regain market share and return to profit, BlackBerry introduced its new line of smartphones to much fanfare on Wednesday. However, its stock fell more than 10 percent following the launch as investors were disappointed that the new smartphones will only go on sale in mid-March in the crucial U.S. market.


“The strength of this launch is overlooked by investors, creating strong opportunity to buy BlackBerry,” said Ferragu, adding that he expects strong initial corporate demand for the new devices.


“We believe BlackBerry should trade in the $ 20-$ 25 range once a decent launch for Blackberry 10 and a stabilized trajectory for fiscal year 2014 are priced in,” he said.


BlackBerry unveiled both a touch-screen device and a physical-keyboard device last week. While the traditional keyboard model only goes on sale in April, the touch-screen device is already on sale in the United Kingdom and hits store shelves in Canada this week.


Waterloo, Ontario-based BlackBerry said the U.S. launch was delayed until mid-March because U.S. wireless carriers have a longer testing phase than carriers in other countries. The devices, which are set to retail for C$ 599 ($ 600) in Canada, are currently attracting bids of more than $ 1,000 each on auction site ebay.com.


(Reporting by Euan Rocha; Editing by Lisa Von Ahn; and Peter Galloway)


Wireless News Headlines – Yahoo! News





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