LinkedIn beats Street, outstrips social media rivals

SAN FRANCISCO (Reuters) – LinkedIn Corp extended its hot streak on Thursday, announcing both blow-out quarterly profits and a bullish forecast for the new year that exceeded Wall Street’s already lofty expectations.

The results reaffirmed the “professional” social network’s reputation as a fast-growing but sure-footed business — and the star exception in a mostly disappointing social media sector.

Excluding certain items, net income was $ 40.2 million, or 35 cents a share, well above the 19 cents expected by analysts polled by Thomson Reuters I/B/E/S.

The results meant LinkedIn beat analyst estimates for the seventh quarter in a row and sent shares of the company, which have doubled in the past 12 months, soaring 9 percent higher to $ 135 after hours.

Revenue rose a better-than-expected 81 percent from a year ago to $ 303.6 million, as millions of new job seekers and corporate recruiters around the world signed up with LinkedIn to post resumes or poach competitors’ employees.

The company offered bullish forecasts for the first quarter as well, projecting revenue between $ 305 million and $ 310 million, above analyst estimates of $ 301 million.

“You can pick out a lot of things that were great, from customer adds to accelerating revenue to growth in international,” said Kerry Rice, an analyst at Needham & Co. “On top of that, guidance is pretty outstanding. And from a historical perspective, they’ll likely beat those numbers too.”

TURBOCHARGED GROWTH

Founded by former PayPal employees in 2002, LinkedIn remains one of the most profitable Web companies, with gross margins approaching 90 percent.

At a time when Facebook Inc stock trades 25 percent below its initial public offering price and basic questions loom over the business models of online gaming group Zynga Inc and daily deals company Groupon Inc, LinkedIn has proved it can consistently make money by selling access to its 200 million users’ resumes since it went public in May 2011 at $ 45 a share.

The size of LinkedIn’s user base has reinforced its position against competitors, few of whom pose a serious challenge. Facebook only recently announced a “Jobs Board” tool in November. And on Thursday, shares of Monster Worldwide Inc fell 7 percent after the human resources company reported a quarterly loss and said it would pull out of several countries.

Analysts in recent months, however, have begun to question how long LinkedIn can sustain its turbocharged growth as it becomes saturated in some U.S. markets.

On Thursday’s earnings call, company executives said the majority of LinkedIn’s users are now based outside of the United States, and the company is aggressively targeting job markets in Hong Kong and Brazil.

Sales from international markets more than doubled over the past year to $ 114.6 million, or 38 percent of total revenue in the quarter, the company said.

In response to a slowdown in user growth and the slide in page views, LinkedIn has introduced some social media features to encourage visitors to click more on its site, as opposed to uploading their resumes and never coming back.

LinkedIn has introduced personal blogs by successful businesspeople like Sir Richard Branson, whom users can “follow” for updates.

Chief Executive Jeff Weiner told analysts on Thursday’s earnings call that the blog series, called “Influencers,” has exceeded expectations and now features contributions from business luminaries like GE Chairman Jeffrey Immelt and investor Mark Cuban.

Other social mechanics, such as a recent addition that encouraged users to endorse their colleagues for their professional skills, also helped keep users coming back to the site more frequently, Weiner said.

The endorsements feature had the effect of “creating the right kind of viral loops,” he said.

(Editing by Matthew Lewis and Richard Pullin)

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Clive Davis Is 'Feeling Keenly the Loss' of Whitney Houston

By Dahvi Shira

02/08/2013 at 07:55 AM EST

Clive Davis and Whitney Houston

Larry Busacca/WireImage

As the music community mourns Whitney Houston one year after her death at 48, her mentor and confidante, Clive Davis is "feeling keenly the loss" of the superstar, he told PEOPLE on Thursday at the Beverly Hilton Hotel.

Gearing up for his annual pre-Grammy gala that centered last year on Houston's memorial, Davis, 80, says at Saturday's big event, he is "going to do something to remind everybody that her talent lived among us and in so many people."

On the same night as his event, a special is airing on CBS, dedicated to the fallen diva.

"I wanted her special to be meaningful and touching," Davis says. "I wanted everyone to remember why she was the greatest in her generation. I'm a great believer in carrying the torch and making sure that her legacy is as glittering as it should be. I'm very involved in that, emotionally and musically."

Asked for his all-time favorite memories from the start of his galas to the present, Davis said without hesitation, "I think Whitney's performances stand out as being special."

And while he won't give away much else about the highly anticipated evening, he would say, teasingly, "It's a different kind of opening. The opening has never been done before, with the kind of music that's unprecedented."

The 55th annual Grammys will air Sunday, Feb. 10, on CBS at 8 p.m. ET/PT (7 p.m. CT) from the Staples Center in Los Angeles.

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Southern diet, fried foods, may raise stroke risk

Deep-fried foods may be causing trouble in the Deep South. People whose diets are heavy on them and sugary drinks like sweet tea and soda were more likely to suffer a stroke, a new study finds.

It's the first big look at diet and strokes, and researchers say it might help explain why blacks in the Southeast — the nation's "stroke belt" — suffer more of them.

Blacks were five times more likely than whites to have the Southern dietary pattern linked with the highest stroke risk. And blacks and whites who live in the South were more likely to eat this way than people in other parts of the country were. Diet might explain as much as two-thirds of the excess stroke risk seen in blacks versus whites, researchers concluded.

"We're talking about fried foods, french fries, hamburgers, processed meats, hot dogs," bacon, ham, liver, gizzards and sugary drinks, said the study's leader, Suzanne Judd of the University of Alabama in Birmingham.

People who ate about six meals a week featuring these sorts of foods had a 41 percent higher stroke risk than people who ate that way about once a month, researchers found.

In contrast, people whose diets were high in fruits, vegetables, whole grains and fish had a 29 percent lower stroke risk.

"It's a very big difference," Judd said. "The message for people in the middle is there's a graded risk" — the likelihood of suffering a stroke rises in proportion to each Southern meal in a week.

Results were reported Thursday at an American Stroke Association conference in Honolulu.

The federally funded study was launched in 2002 to explore regional variations in stroke risks and reasons for them. More than 20,000 people 45 or older — half of them black — from all 48 mainland states filled out food surveys and were sorted into one of five diet styles:

—Southern: Fried foods, processed meats (lunchmeat, jerky), red meat, eggs, sweet drinks and whole milk.

—Convenience: Mexican and Chinese food, pizza, pasta.

—Plant-based: Fruits, vegetables, juice, cereal, fish, poultry, yogurt, nuts and whole-grain bread.

—Sweets: Added fats, breads, chocolate, desserts, sweet breakfast foods.

—Alcohol: Beer, wine, liquor, green leafy vegetables, salad dressings, nuts and seeds, coffee.

"They're not mutually exclusive" — for example, hamburgers fall into both convenience and Southern diets, Judd said. Each person got a score for each diet, depending on how many meals leaned that way.

Over more than five years of follow-up, nearly 500 strokes occurred. Researchers saw clear patterns with the Southern and plant-based diets; the other three didn't seem to affect stroke risk.

There were 138 strokes among the 4,977 who ate the most Southern food, compared to 109 strokes among the 5,156 people eating the least of it.

There were 122 strokes among the 5,076 who ate the most plant-based meals, compared to 135 strokes among the 5,056 people who seldom ate that way.

The trends held up after researchers took into account other factors such as age, income, smoking, education, exercise and total calories consumed.

Fried foods tend to be eaten with lots of salt, which raises blood pressure — a known stroke risk factor, Judd said. And sweet drinks can contribute to diabetes, the disease that celebrity chef Paula Deen — the queen of Southern cuisine — revealed she had a year ago.

The National Institute of Neurological Disorders and Stroke, drugmaker Amgen Inc. and General Mills Inc. funded the study.

"This study does strongly suggest that food does have an influence and people should be trying to avoid these kinds of fatty foods and high sugar content," said an independent expert, Dr. Brian Silver, a Brown University neurologist and stroke center director at Rhode Island Hospital.

"I don't mean to sound like an ogre. I know when I'm in New Orleans I certainly enjoy the food there. But you don't have to make a regular habit of eating all this stuff."

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Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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Euro near two-week low, shares up on rekindled rate cut hopes

LONDON (Reuters) - European shares rose and the euro hovered near a two-week low on Friday after the European Central Bank rekindled expectations that it could cut interest rates again.

Strong Chinese trade data also helped lift optimism about global growth prospects, boosting oil, copper and Asian shares, while the yen rose sharply after Japan's finance minister said the currency's recent drop had been overdone.

The ECB left rates at a record low 0.75 percent on Thursday but the bank's President Mario Draghi levered the door to a cut back open by saying it would monitor whether the euro's rise over recent months could push inflation below its comfort zone.

European shares were enjoying their best session of an otherwise low-key week as midday approached, on the hopes lower borrowing rates -- or at least the threat of them -- would reverse some of the 8 percent trade-weighted rise in the euro since August.

"The ECB had quite an impact on the euro-dollar and the positive Chinese data we have had has helped shares," said ABN Amro economist Aline Schuiling.

"Draghi signaled quite clearly yesterday that with the rise in the euro, the risks to price stability are to the downside. We expect the dollar to continue to strengthen, but if that reverses then markets would price in a rate cut."

London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were up 0.5, 0.6 and 0.2 percent respectively by 1100 GMT pushing the pan-European FTSEurofirst 300 <.fteu3> up 0.5 percent, though it was still on course for its second consecutive weekly fall.

U.S. stock futures pointed to a steady start on Wall Street.<.n/>

Draghi said the euro's recent surge was a sign of a return of confidence, but cautioned: "We certainly want to see whether the appreciation is sustained and will alter our risk assessment as far as price stability is concerned."

The comments saw the currency tumble to $1.33705, the lowest since January 25, although a modest mid-morning rebound lifted it back to $1.3404. It had earlier also hit a two-week low against sterling and a one-week low versus the yen.

The yen, the other key focus of foreign exchange markets following the push by Japan's government to ease monetary policy, rose sharply after the country's finance minister said the currency's recent drop had been overdone.

The euro fell 1.5 percent against the yen to 123.54 yen with traders reporting selling by Asian funds. The dollar shed 1 percent to hit a session low of 92.17 yen as a U.S.-based investor sold the greenback.

HAPPY CHINESE NEW YEAR

Helping to bolster strengthening global growth hopes, China said its exports grew 25 percent in January from a year ago, the strongest showing since April 2011 and well ahead of market expectations, while imports also beat forecasts, surging 28.8 percent on the year.

It lifted commodities, including copper, which ended a four day losing streak. Brent crude oil edged towards $118 per barrel.

Brent has gained over the last three weeks as positive data suggested the global economy had turned a corner, which augurs well for fuel demand, while supply worries stemming from tensions in the Middle East have also supported prices.

Earlier MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.3 percent and Australian shares rallied 0.7 percent to 34-month highs. Chinese markets are closed next week for the Lunar New Year holiday, while Hong Kong will resume trading on Thursday. Despite Friday's rises, MSCI's world equity index <.miwd00000pus> was on course for a weekly fall of about one percent, which would be its biggest drop since November and the first weekly decline of 2013.

However, the global index is still up four percent for the year to date and is not far from its best levels since mid-2008.

"China's economic conditions are improving and the trade data confirms the continuation of a recovery trend. Not just the trade data but retail, production and investment flows clearly show that the economy bottomed out in the third quarter last year," said Hirokazu Yuihama, a senior strategist at Daiwa Securities in Tokyo.

BANK REPAYMENTS

Money markets rates reversed some of their recent gains following Draghi's insistence that the ECB's policy will remain accommodative.

The central bank also said on Friday that banks will return another 5 billion euros of its crisis loans next week, suggesting the initial flood of repayments has turned into a steady trickle.

In the bond market, benchmark German Bund futures continued to push higher as Draghi's cautious tone on the euro zone's economy underpinned demand for low risk assets.

Nagging concerns about political stability in Spain and Italy were piling pressure on higher-yielding peripheral bonds to the benefit of Bunds, overshadowing an Irish bank debt deal that will cut Dublin's borrowing costs over the next decade.

"On the 10-year Spanish bonds, we could go significantly above 5.50 percent and reach the 5.60 area and it can be quite fast and on the BTP 4.70-75 area could be reached as well," BNP Paribas strategist Patrick Jacq said.

But "On a longer-term view we still expect market friendly outcomes of the political issues and the setbacks offer some opportunities to enter long positions."

Spanish 10-year yields were last at 5.42 percent while equivalent Italian yields were about 1 basis point up at 4.58 percent.

(Additional reporting by Richard Hubbard and Emelia Sithole-Matarise; editing by Philippa Fletcher)

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Tens of thousands mourn slain Tunisian opposition leader

TUNIS (Reuters) - Tens of thousands of Tunisians took to the streets amid scattered violence on Friday to mourn secular opposition leader Chokri Belaid, whose assassination has plunged Tunisia deeper into political crisis.

Braving chilly rain, at least 50,000 people turned out for Belaid's funeral in his home district of Jebel al-Jaloud in the capital, chanting anti-Islamist and anti-government slogans.

It was Tunisia's biggest funeral since the death of Habib Bourguiba, independence leader and first president, in 2000.

Tunisia, cradle of the Arab uprisings, is riven by tensions between dominant Islamists and their secular opponents, and by frustration at the lack of social and economic progress since President Zine al-Abidine Ben Ali was ousted in January 2011.

"The people want a new revolution," shouted mourners in Tunis, who also sang the national anthem.

Crowds surged around an open army truck carrying Belaid's coffin, draped in a red and white Tunisian flag, from a cultural center in Jebel al-Jaloud towards the leafy Jallaz cemetery, as a security forces helicopter flew overhead.

Police fired teargas and shots in the air to disperse youths who were smashing cars near the cemetery, forcing some mourners to run from the choking clouds. Police also used teargas against demonstrators outside the Interior Ministry.

"Belaid, rest in peace, we will continue the struggle," mourners chanted, holding portraits of the politician killed near his home on Wednesday by a gunman who fled on a motorcycle.

Some demonstrators denounced Rachid Ghannouchi, leader of the ruling Islamist Ennahda party. "Ghannouchi, assassin, criminal," they chanted. "Tunisia is free, terrorism out."

Police fired teargas to disperse anti-government protesters throwing stones and petrol bombs in the southern mining town of Gafsa, a stronghold of support for Belaid, witnesses said.

Crowds there had chanted "The people want the fall of the regime", a slogan first used against Ben Ali.

CRADLE OF REVOLT

In Sidi Bouzid, the southern town where the revolt against the ousted strongman began, about 10,000 marched to mourn Belaid and shout slogans against Ennahda and the government.

Banks, factories and some shops were closed in Tunis and other cities in response to a strike called by unions in protest at Belaid's killing, but buses were running normally.

Tunis Air suspended all its flights because of the strikes, a spokesman for the national airline said, adding that flights operated by other airlines were not affected.

However, airport sources in Cairo said Egypt's national airline EgyptAir had canceled two flights to Tunisia after staff at Tunis airport joined the general strike.

After Belaid's assassination, Prime Minister Hamdi Jebali, an Islamist, said he would dissolve the government and form a cabinet of technocrats to rule until elections could be held.

But his own Ennahda party and its secular coalition partners complained they had not been consulted, casting doubt over the status of the government and compounding political uncertainty.

No one has claimed responsibility for the killing of Belaid, a lawyer and secular opposition figure.

His family have blamed Ennahda but the party has denied any hand in the shooting. Crowds have attacked several Ennahda party offices in Tunis and other cities in the past two days.

"Hope still exist in Tunisia," Fatma Saidan, a noted Tunisian actor, told Reuters at Belaid's funeral. "We will continue to struggle against extremism and political violence."

She called for national unity, saying: "We are ready to accept Islamists, but they don't accept us."

SECULAR SYMBOL

While Belaid had only a modest political following, his criticism of Ennahda policies spoke for many Tunisians who fear religious radicals are bent on snuffing out freedoms won in the first of the revolts that rippled through the Arab world.

Secular groups have accused the Islamist-led government of a lax response to attacks by ultra-orthodox Salafi Islamists on cinemas, theatres and bars in recent months.

The economic effect of political uncertainty and street unrest could be serious in a country which has yet to draft a new constitution and which relies heavily on the tourist trade.

Mohamed Ali Toumi, president of the Tunisian Federation of Travel Agencies, described the week's events as a catastrophe that would have a negative impact on tourism, but he told the national news agency TAP no cancellations had been reported yet.

France, which had already announced the closure of its schools in Tunis on Friday and Saturday, urged its nationals to stay clear of potential flashpoints in the capital.

"Unless unavoidable, it is best to stay away from the city center today, and steer clear of demonstrations and major road crossings or sensitive buildings," said Helene Conway-Mouret, minister in charge of French people living abroad.

The Austrian foreign ministry issued a similar warning.

The cost of insuring Tunisian government bonds against default rose to its highest level in more than four years on Thursday and ratings agency Fitch said it could further downgrade Tunisia if political instability continues or worsens.

(For an interactive look at Tunisia please click on http://link.reuters.com/tub85t )

(Additional reporting by Alexander Dziadosz in Cairo, Brian Love in Paris and Michael Shields in Vienna; Editing by Andrew Heavens)

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Tablets accounted for over a third of PC shipments in Q4

Tablets have continued to bleed the traditional PC market dry. The latest numbers from research firm Canalys revealed that tablets accounted for over a third of PC shipments in the fourth quarter of 2012. Worldwide PC shipments were found to have increased 12% year-over-year to 134 million units with 46.2 million units qualifying as tablets, a 75% year-over-year increase. Apple (AAPL) continued to lead the industry thanks to strong iPad sales, shipping 27 million units and taking a 20% share of the market for the first time. The iPad mini was a hit for the company and accounted for more than half of Apple’s total iPad shipments. Due to supply issues and cannibalization of the larger iPad, however, Apple’s tablet share dropped below 49% and for the first time the company did not control over half the tablet market.

[More from BGR: Microsoft Surface Pro review]

“Apple timed the launch of the iPad mini well,” said Pin-Chen Tang, a research analyst with Canalys. “Its success proves there is a clear demand for pads with smaller screens at a more affordable price. Without the launch, Apple would surely have lost more ground to its competitors.”

[More from BGR: Microsoft defends Surface Pro’s 4-hour battery life and low available storage]

Samsung (005930) also experienced strong tablet sales and found itself in a top five position for the first time in overall PC sales, sitting only behind Apple, HP (HPQ), and Lenovo (LNVGY). The company’s Galaxy tablet shipped 7.6 million units, a year-over-year increase of 226%, and its notebook computers shipped 4.1 million units for a 9% share of the PC market.

Amazon (AMZN) was found to have increased its worldwide shipments by 18% to 4.6 million units due to an expanded Kindle Fire lineup and sales in additional markets. Google’s (GOOG) Nexus 7 and Nexus 10 tablet also “performed relatively well” and shipped a combined 2.6 millin units in the fourth quarter.

It has now become a requirement for Android vendors to target low price points if they are interested in increasing their shipments. The success of Amazon, Samsung, and Google has helped Android’s tablet market share increase to 46%.

“The sub-$ 200 price bands now feature products from established players that do not rely on low-quality components,” said Tom Evans, a Canalys analyst. “Those who control ecosystems, such as Amazon and Google, can obtain revenue from content sales, but pure hardware OEMs must accept decreasing margins or exit.”

The research firm found that shipments of Microsoft’s (MSFT) Surface RT tablet are off to a shaky start with shipments of only 720,000 units in Q4.

“The outlook for Windows RT appears bleak. Hardware OEMs are ignoring it due, in part, to a pricing strategy that does not align with the economics of the pad market,” said Tim Coulling, a Canalys senior analyst.

The analyst added that he expects Microsoft to “rethink its pricing strategy for RT in the coming weeks,” and said that the company should drop the price of the operating system by 60% to get “OEMs back onside.” He believes that Microsoft will have a better chance of turning Windows RT around if it increases manufacturer support, and figures out a strategy to educate consumers and attract new developers.

This article was originally published on BGR.com

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Melissa McCarthy: It Was 'So Fun' to Look So Cheesy in Identity Thief

Stylewatch
Style News Now

02/05/2013 at 05:30 PM ET

Universal Pictures

What’s funnier than Melissa McCarthy? Melissa McCarthy in ridiculous hair and makeup. And lucky for us, the star dons some crazy-bad (or good, depending on how you look at it) crunchy curls and ’80s-inspired eye shadow, blush and lipstick in her new film, Identity Thief.

“It was so fun to put all that together,” McCarthy said of her character’s beauty choices at the film’s L.A. premiere on Tuesday. But it also was labor-intensive to look that (awesomely) cheesy. “[It took] maybe two hours — an hour and a half [to put it on everyday]. Good drag takes a while!”

To create her character Diana’s signature style, McCarthy started with her frizzy, teased and permed mane. “I’m obsessed with wigs, so I started there and once I sort of locked into [a hairstyle], it was kind of more is more [when it came to makeup],” she told reporters.

When it came to Diana’s over-the-top purple and blue eyeshadow, McCarthy looked to an old soap star for inspiration. “I kept saying, ‘Donna Mills’s eyes!’ So we just kept piling [makeup] on, and then one day [the character] appeared.”

McCarthy’s reaction when she finally saw herself as the identity thief? “I thought, I’d like to spend a couple of months with her!” Tell us: Are you excited to see McCarthy’s new movie?

–Jennifer Cress, reporting by Melody Chiu

PHOTOS: SEE MORE BOLD BEAUTY LOOKS IN ‘OBSESSED OR HOT MESS’

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New whooping cough strain in US raises questions

NEW YORK (AP) — Researchers have discovered the first U.S. cases of whooping cough caused by a germ that may be resistant to the vaccine.

Health officials are looking into whether cases like the dozen found in Philadelphia might be one reason the nation just had its worst year for whooping cough in six decades. The new bug was previously reported in Japan, France and Finland.

"It's quite intriguing. It's the first time we've seen this here," said Dr. Tom Clark of the Centers for Disease Control and Prevention.

The U.S. cases are detailed in a brief report from the CDC and other researchers in Thursday's New England Journal of Medicine.

Whooping cough is a highly contagious disease that can strike people of any age but is most dangerous to children. It was once common, but cases in the U.S. dropped after a vaccine was introduced in the 1940s.

An increase in illnesses in recent years has been partially blamed on a version of the vaccine used since the 1990s, which doesn't last as long. Last year, the CDC received reports of 41,880 cases, according to a preliminary count. That included 18 deaths.

The new study suggests that the new whooping cough strain may be why more people have been getting sick. Experts don't think it's more deadly, but the shots may not work as well against it.

In a small, soon-to-be published study, French researchers found the vaccine seemed to lower the risk of severe disease from the new strain in infants. But it didn't prevent illness completely, said Nicole Guiso of the Pasteur Institute, one of the researchers.

The new germ was first identified in France, where more extensive testing is routinely done for whooping cough. The strain now accounts for 14 percent of cases there, Guiso said.

In the United States, doctors usually rely on a rapid test to help make a diagnosis. The extra lab work isn't done often enough to give health officials a good idea how common the new type is here, experts said.

"We definitely need some more information about this before we can draw any conclusions," the CDC's Clark said.

The U.S. cases were found in the past two years in patients at St. Christopher's Hospital for Children in Philadelphia. One of the study's researchers works for a subsidiary of Johnson & Johnson, which makes a version of the old whooping cough vaccine that is sold in other countries.

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JournaL: http://www.nejm.org

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Stock futures climb ahead of ECB, claims data

NEW YORK (Reuters) - Stock index futures advanced on Thursday, indicating the S&P 500 may rise for a third straight session ahead of a European Central Bank rate decision and data on the U.S. labor market.

The central bank is expected to keep rates unchanged, and the market will give more attention to comments from ECB President Mario Draghi, who will give his views on the region's growth prospects and faces tough questions over the euro's sharp rise and his connection to an Italian banking scandal.

"The ECB will come out and talk about how they are going to have buying programs and all that stuff but this is a danger point for U.S. investors because sometimes traders do pay attention to the woes of Europe," said Kim Forrest, senior equity research analyst, Fort Pitt Capital Group in Pittsburgh.

Economic data due at 8:30 a.m. (1330 GMT) includes weekly jobless claims and preliminary fourth quarter productivity and unit labor costs. Initial claims are expected at 360,000 compared with 368,000 in the prior week. Estimates call for a 1.3 percent fall in productivity while unit labor costs are expected to rise 3.0 percent.

"The unemployment information, it has been interesting how much it's dropped off, but we could have a slowdown in firing, but that doesn't necessarily mean an uptick in hiring."

Recent data has pointed to a modest improvement in the economy, but one without enough strength to cause the Federal Reserve to back off it's easy monetary policy, helping the benchmark S&P index <.spx> climb 6 percent for the year.

S&P 500 futures rose 2.7 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 25 points, and Nasdaq 100 futures added 3.25 points.

Visa Inc's quarterly profit beat analysts' estimates for the ninth consecutive quarter as credit, debit and transactions grew at the world's largest payments network.

Green Mountain Coffee Roasters Inc stumbled 7.2 percent to $45.43 in premarket after forecasting sales growth for the current quarter that was slightly lower than analysts expected.

According to Thomson Reuters data through Wednesday morning, of 301 companies in the S&P 500 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 now expected to grow 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

Retailers will also be eyed as they report monthly sales results. Costco Wholesale Corp posted a 4 percent rise in comparable sales in January, marginally above analysts' estimates, despite the largest U.S. warehouse operator having one less sales day in the reporting period.

European shares were little changed after sharp falls the previous day, with any recovery capped by mixed earnings and concerns about economic and political developments in the euro zone. <.eu/>

Asian shares and the euro paused from recent gains as investors awaited the European Central Bank's policy meeting later in the day and Draghi's view on euro zone growth prospects.

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)

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Khamenei rebuffs U.S. offer of direct talks

DUBAI (Reuters) - Iran's highest authority, Ayatollah Ali Khamenei, on Thursday slapped down an offer of direct talks made by U.S. Vice President Joe Biden this week, saying they would not solve the problem between them.

"Some naive people like the idea of negotiating with America, however, negotiations will not solve the problem," Khamenei said in a speech to officials and members of Iran's air force carried on his official website.

"If some people want American rule to be established again in Iran, the nation will rise up to face them," he said.

"American policy in the Middle East has been destroyed and Americans now need to play a new card. That card is dragging Iran into negotiations."

Khamenei made his comments just days after Joe Biden said the United States was prepared to meet bilaterally with the Iranian leadership. "That offer stands but it must be real and tangible," Biden said in a speech in Munich.

With traditional fiery rhetoric, Khamenei lambasted Biden's offer, saying that since the 1979 revolution the United States had gravely insulted Iran and continued to do so with its threat of military action.

"You take up arms against the nation of Iran and say: 'negotiate or we fire'. But you should know that pressure and negotiations are not compatible and our nation will not be intimidated by these actions," he added.

Relations between Iran and the United States were severed in 1979 after the overthrow of Iran's pro-western monarchy and diplomatic meetings between officials have since been very rare.

ALL OPTIONS STILL "ON THE TABLE"

Currently U.S.-Iran contact is limited to talks between Tehran and a so-called P5+1 group of powers on Iran's disputed nuclear program which are to resume on February 26 in Kazakhstan.

Israel's Deputy Prime Minister Dan Meridor said he was skeptical the negotiations in Almaty could yield a result, telling Israel Radio that the United States needed to demonstrate to Iran that "all options were still on the table".

Israel, widely recognized to be the only nuclear power in the Middle East, has warned it could mount a pre-emptive strike on Iranian atomic sites. Israel sees its existence as directly threatened by the prospect of an nuclear-armed Iran, given Tehran's refusal to recognize the existence of the Jewish state.

"The final option, this is the phrasing we have used, should remain in place and be serious," said Meridor.

"The fact that the Iranians have not yet come down from the path they are on means that talks ...are liable to bring about only a stalling for time," he said.

Iran maintains its nuclear program is entirely peaceful but Western powers are concerned it is intent on developing a weapons program.

Many believe a deal on settling the nuclear issue is impossible without a U.S.-Iranian thaw. But any rapprochement would require direct talks addressing many sources of mutual mistrust that have lingered since Iran's 1979 Islamic Revolution and the subsequent U.S. embassy hostage crisis in Tehran.

Moreover, although his re-election last November may give President Barack Obama a freer hand to pursue direct negotiations, analysts say Iran's own presidential election in June may prove an additional obstacle to progress being made.

(Additional reporting by Dan Williams; Editing by William Maclean and Jon Boyle)

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