Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.

The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.

Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.

Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.

"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.

Major technology companies also report next week, but the bar for the sector has been lowered even further.

Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.

Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.

Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.

CASH POURING IN, HOUSING DATA COULD HELP

Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.

The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.

"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.

"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."

Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.

Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.

The new home sales report on Friday is expected to show a 2.1 percent increase.

The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.

Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.

The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.

"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.

"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."

(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)

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British Leader, David Cameron, Sees Wider Threat in Algeria Attack

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Prime Minister David Cameron en route to Parliament to deliver a statement on the Algeria hostage crisis.

LONDON — With more than 60 hostages still missing and many feared dead, Prime Minister David Cameron told Parliament on Friday that the Qaeda-linked attack on a remote Algerian gas installation demonstrated the need for Britain and its western allies, including the United States, to direct more of their diplomatic, military and intelligence resources to the intensifying threat emanating from “the ungoverned space” of the North African desert, treating it with as much concern as the terrorist challenge in Pakistan and Afghanistan.

Mr. Cameron offered little new information about the showdown at the In Amenas plant, 1,000 miles from Algiers in the oil-and-gas-rich emptiness of the Sahara, saying the information reaching London about what he described as a “continuing situation” remained sketchy. He added that Britain had learned overnight that its fears for British citizens caught up in the hostage-taking and the subsequent shootout now focused on “significantly” fewer than the 30 people feared on Thursday. As part of the effort to learn more, he said, a special plane had been assigned to carry Britain’s ambassador in Algiers and other British diplomats to the area of the gas plant on Friday.

But in an hourlong session in the House of Commons, Mr. Cameron pointed to the somber implications of underestimating recent events in Mali and Algeria as a regional problem for North Africa rather than an increasingly fertile arena for Islamic militants and their hostility to the West. He said he had discussed his concerns in a telephone conversation with President Obama on Thursday night.

The British leader said the growth of Islamic terrorist networks in the countries of the Sahel, the broad area of North Africa that runs more than 3,000 miles from Mauritania in the west to Sudan and Somalia in the east, should be a renewed focus of western counterterrorist concerns and resources. At one point, he cited the need for military assistance to the affected countries to be part of NATO military planning, though he again emphatically ruled out any British combat role in support of France’s campaign against militants in Mali.

Pointing to the leading role played in the Algerian attack by Mokhtar Belmohtar, a terrorist ringleader and smuggler with links to North Africa’s main Islamic terrorist group, Al Qaeda in the Islamic Maghreb, Mr. Cameron warned that the Algerian attack was symptomatic of a far broader threat.

“What we know is that the terrorist threat in the Sahel comes from Al Qaeda in the Islamic Maghreb, which aspires to establish Islamic law across the Sahel and northern Africa, and to attack Western interests in the region and frankly, wherever it can,” Mr. Cameron said. “Just as we have reduced the scale of the Al Qaeda threat in other parts of the world, including in Pakistan and Afghanistan, so it has grown in other parts of the world. We need to be equally concerned about that, and equally focused on it.”

To some British commentators, Mr. Cameron’s remarks sounded as though they may have been crafted as part of a British effort to prompt a deeper involvement in North African security matters by the United States. In last year’s Libyan conflict, the United States stepped back from the lead role it has traditionally taken in NATO military operations and left Britain, France and Italy to conduct the bulk of the bombing in support of the Libyan rebels’ successful campaign to topple Col. Muammar el-Qaddafi.

Since then, high-ranking British officials have voiced concerns that the Obama administration was stepping back from European political and security issues and turning its attentions increasingly to the nations of the Pacific.

With the approach of Mr. Obama’s second inauguration on Sunday, The Spectator, a London-based weekly that is influential in Mr. Cameron’s Conservative Party, devoted its cover this week to an article headlined “The Pacific President,” and an illustration showing Mr. Obama in a brightly colored Hawaiian shirt and shorts surfing off a palm-lined beach. “As Barack Obama is sworn in again as president, his allies in the West will ask themselves the same nervous question they posed four years ago: how much does he care about us,” the accompanying article asked.

White House officials said on Thursday that Mr. Obama had used his telephone conversation with Mr. Cameron to underscore American concerns that Britain remain a robust force within the 27-nation European Union, a hot-button issue for Mr. Cameron. The prime minister had planned — then canceled, amid the Algerian crisis — a landmark speech in Amsterdam on Friday in which he was to have outlined his plan to negotiate a much sparer role for Britain in the European bloc.

In his remarks to lawmakers on Friday, Mr. Cameron offered what could have been construed as an oblique riposte to Mr. Obama, or at least to officials in the Obama administration who have urged that Europe take greater responsibility for confronting terrorist and other security threats in its own region.  He may also have been addressing domestic critics in Britain, or other NATO countries that have been less active than Britain in counterterrorism efforts aimed at confronting the spread of Islamic militant groups.

“There is a great need for not just Britain but other countries to give a priority to understanding better, and working better, with the countries in this region,” he said. “Those who believe that there is a terrorist, extremist Al Qaeda problem in parts of North Africa, but that it is a problem for those places and we can somehow back off and ignore it, are profoundly wrong. That is a problem for those places, and for us.”

Mr. Cameron noted that Britain had been “the first country in the world” to offer France military assistance in its campaign in Mali, deploying one of the largest military transport aircraft it has, an American-made C-17 Globemaster, to ferry French troops and military equipment to Bamako, the Malian capital. He said it was time for Britain and France to move beyond their spheres of influence in Africa dating back to the colonial era, “and recognize that is in our interest to boost the capacity of all African states” confronted by the terrorist threat.

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With an air kiss or empty hug, Te’oing is Twitter craze

NEW YORK (Reuters) – Manti Te’o, the Notre Dame linebacker entangled in a girlfriend hoax that gives a whole new meaning to the term “air kiss,” is inspiring a new fad racing through social media: Te’oing.

An avalanche of pictures of people hugging empty chairs or puckering up to an otherwise empty room were posted to Twitter with the hashtag #Te’oing days after the college football star’s story about his girlfriend’s cancer death was exposed as a fraud. Not only did she never have leukemia, she never existed.

Notre Dame officials said Te’o told them he had been duped into believing he had an online relationship with the fictitious woman.

“Te’oing – Mile High Club edition” read one tweet with a photo of a man hugging the air in an airplane bathroom, an apparent reference to the whispered practice of having sex in mid-flight.

Clint Eastwood was hailed in several tweets as a “Te’oing” pioneer for the actor’s interlude with an empty chair at the 2012 Republican Convention. Other tweets showed Ronald McDonald Te’oing on his cozy bench and President Barack Obama spending quality time Te’oing with a vacant seat.

“Just some afternoon bubbly with my baby” said one Te’oing tweet with a photo of a man clinking his champagne flute against another that appeared to be suspended in mid-air.

The snarky social media frenzy recalled another similar trend called the “Tebowing,” named for New York Jets quarterback Tim Tebow, who frequently kneeled for on-field prayers and inspired copy-cat poses by people whose pictures flooded social media last year.

In its own riff on emptiness and romance, a Kentucky minor league baseball team, the Florence Freedom, has announced it will give away Manti Te’o Girlfriend Bobblehead dolls – actually empty boxes – to the first 1,000 fans at the May 23 game.

One section of the Florence, Kentucky, stadium has been reserved “for fans to sit with their imaginary friends, girlfriends/boyfriends or spouses” who may be caught on the “pretend kiss cam” and are invited to compete in an air guitar contest or an imaginary food fight.

(Writing by Barbara Goldberg; Editing by Paul Thomasch and Vicki Allen)

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7 Stunning Dresses You May Have Missed!

Sure, the Golden Globes fashion was predictably glam, but some of the best gowns that weekend never made it to your TV screen. Check out the looks you may have missed

Credit: Jon Kopaloff/FilmMagic

Updated: Thursday Jan 17, 2013 | 01:00 PM EST
By: Alex Apatoff

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Flu season 'bad one for the elderly,' CDC says

The number of older people hospitalized with the flu has risen sharply, prompting federal officials to take unusual steps to make more flu medicines available and to urge wider use of them as soon as symptoms appear.

The U.S. is about halfway through this flu season, and "it's shaping up to be a worse-than-average season" and a bad one for the elderly, said Dr. Thomas Frieden, director of the Centers for Disease Control and Prevention.

It's not too late to get a flu shot, and "if you have symptoms, please stay home from work, keep your children home from school" and don't spread the virus, he said.

New figures from the CDC show widespread flu activity in all states but Tennessee and Hawaii. Some parts of the country are seeing an increase in flu activity "while overall activity is beginning to go down," Frieden said. Flu activity is high in 30 states and New York City, up from 24 the previous week.

Nine more children or teens have died of the flu, bringing the nation's total this flu season to 29. That's close to the 34 pediatric deaths reported during all of the last flu season, although that one was unusually light. In a typical season, about 100 children die of the flu and officials said there is no way to know whether deaths this season will be higher or lower than usual.

The government doesn't keep a running tally of adult deaths from the flu, but estimates that it kills about 24,000 people most years.

So far, half of confirmed flu cases are in people 65 and older. Lab-confirmed flu hospitalizations totaled 19 for every 100,000 in the population, but 82 per 100,000 among those 65 and older, "which is really quite a high rate," Frieden said.

"We expect to see both the number and the rates of both hospitalizations and deaths rise further in the next week or so as the flu epidemic progresses,'" so prompt treatment is key to preventing deaths, he said.

About 90 percent of flu deaths are in the elderly; the very young and people with other health problems such as diabetes are also at higher risk.

If you're worried about how sick you are and are in one of these risk groups, see a doctor, Frieden urged. One third to one half of people are not getting prompt treatment with antiviral medicines, he said.

Two drugs — Tamiflu and Relenza — can cut the severity and risk of death from the flu but must be started within 48 hours of first symptoms to do much good. Tamiflu is available in a liquid form for use in children under 1, and pharmacists can reformulate capsules into a liquid if supplies are short in an area, said Dr. Margaret Hamburg, head of the Food and Drug Administration.

To help avoid a shortage, the FDA is letting Tamiflu's maker, Genentech, distribute 2 million additional doses of capsules that have an older version of package insert.

"It is fully approved, it is not outdated," just lacks information for pharmacists on how to mix it into a liquid if needed for young children, she said.

This year's flu season started about a month earlier than normal and the dominant flu strain is one that tends to make people sicker. Vaccinations are recommended for anyone 6 months or older. There's still plenty of vaccine — an update shows that 145 million doses have been produced, "twice the supply that was available only several years ago," Hamburg said.

About 129 million doses have been distributed already, and a million doses are given each day, Frieden said. The vaccine is not perfect but "it's by far the best tool we have to prevent influenza," he said.

Carlos Maisonet, 73, got a flu shot this week at New York's Brooklyn Hospital Center at the urging of his wife, who was vaccinated in August.

"This is his first time getting the flu shot," said his wife, Zulma Ramos.

Last week, the CDC said the flu again surpassed an "epidemic" threshold, based on monitoring of deaths from flu and a frequent complication, pneumonia. The flu epidemic happens every year and officials say this year's vaccine is a good match for strains that are going around.

___

Online:

Flu vaccine finder: http://www.flu.gov

CDC flu info: http://www.cdc.gov/flu/index.htm

___

AP Photographer Bebeto Matthews in New York contributed to this report.

___

Follow Marilynn Marchione's coverage at —http://twitter.com/MMarchioneAP

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Market flat on mixed earnings from Intel, Morgan Stanley

NEW YORK (Reuters) - Stocks were little changed on Friday as a weak outlook from tech heavyweight Intel offset a better-than-expected quarterly profit at Morgan Stanley.

Still, the S&P 500 was on track for a third week in a row of gains and remained near a five-year high.

Shares of Intel Corp slumped 6.7 percent to $21.17 a day after it forecast quarterly revenue below analysts' estimates and announced plans for increased capital spending amid slow demand for personal computers.

On a positive note, Morgan Stanley reported a fourth-quarter profit after a year-earlier loss, helped by higher revenue at the bank's institutional securities business. Its stock jumped 7.5 percent to $22.32.

"Intel earnings weren't that bad, although their revenue was weak. It sparks fears about not only the company but about the whole PC sector, and that's pressuring the market today," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

Heading into a three-day weekend, investors were cautious about the chances for settling of major differences in Congress about government debt and spending. U.S. markets will be closed on Monday for the Martin Luther King Jr. holiday

"Governmental policy, or lack thereof, is again pushing forth this wait-and-see attitude on the part of investors. So the market is flat and with low volume and low volatility because investors are waiting to see what happens with the debt ceiling and spending cuts," said Bryant Evans, investment adviser and portfolio manager at Cozad Asset Management, in Champaign, Illinois.

There were signs that the question of raising the U.S. debt limit would be put off for a while. House Republican leaders said they would seek to pass a three-month extension of federal borrowing authority next week to buy time for the Democratic-controlled Senate to pass a budget that shrinks deficits.

Overall, S&P 500 fourth-quarter earnings rose an estimated 2.5 percent, according to Thomson Reuters data.

The Dow Jones industrial average <.dji> was up 8.69 points, or 0.06 percent, at 13,604.71. The Standard & Poor's 500 Index <.spx> was up 0.17 points, or 0.01 percent, at 1,481.11. The Nasdaq Composite Index <.ixic> was down 8.61 points, or 0.27 percent, at 3,127.39.

On Thursday, the S&P 500 rose to its highest since late 2007, and that could prompt investors to lock in recent gains, analysts said.

Reflecting the complacency, the CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, fell 7.4 percent. The VIX usually moves inversely to the S&P 500 as it is used as a hedge tool against further market decline.

Economic data from China provided some support to the market, though the focus remained on U.S. corporate earnings. The country's economy grew at a modestly faster-than-expected 7.9 percent in the fourth quarter, the latest sign the world's second-biggest economy was pulling out of a post-global financial crisis slowdown which saw it grow in 2012 at its weakest pace since 1999.

General Electric reported a better-than-expected rise in earnings, spurred by robust demand in China and oil-producing countries. Shares were up 3.2 percent at $21.99.

Despite the gains by Morgan Stanley, financial stocks sagged as Capital One Financial reported disappointing profit. Capital One slumped 7.7 percent to $56.87, while the KBW bank index <.bkx> slipped 0.9 percent.

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

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IHT Rendezvous: Jihadist Kingpin Suspected in Hostage Seizure

LONDON — Mokhtar Belmokhtar, the one-eyed smuggler-jihadist said to be behind the seizure of foreign hostages at a gas plant in Algeria, has been a notorious kingpin of the Sahara for more than a decade.

As a successful kidnapper, cigarette smuggler — he is nicknamed “Mr. Marlboro” — and go-between for Al Qaeda, Mr. Belmokhtar has been a wanted man in his native Algeria after returning from training with jihadists in Afghanistan in 1993.

He returned at the height of a bloody decade-long civil war between the Algerian government and Islamist insurgents, acting as a channel between Al Qaeda leaders and local jihadist groups.

Raising money through kidnappings and smuggling, he has been a main supplier of weapons and equipment to insurgent groups and “has become increasingly integrated into the fabric of the Sahara and Sahel,” according to a 2009 Jamestown Foundation study that was based in part on Mr. Belmokhtar’s own account.

His activities led to him being included in a United Nations blacklist of wanted Qaeda associates.

Security agencies in Algeria and beyond might know who “Mr. Marlboro” is. But what is his motive in the operation to seize Western hostages?

In the past, he has staged kidnappings for money, negotiating the freedom of his captives in exchange for millions of dollars in ransom.

This time, the group he leads has linked the operation to events in Mali, where the French military has intervened to prevent an advance by Islamist forces that control the north of the country.

Mr. Belmokhtar, 40, is thought to be based in Mali in the rebel-held town of Gao, which has been attacked by French warplanes. Some believe he is masterminding the hostage operation from there.

The hostage-takers have demanded an end to the intervention and a reversal of Algeria’s decision to allow the French military to fly over its territory on the way to Mali.

Mr. Belmokhtar might also be seeking to reassert his role as a central player in the factionalized Islamist politics of the region after a recent move by the local Qaeda affiliate to push him aside.

He was removed from a military leadership role in Al Qaeda in the Islamic Maghreb in October, according to French broadcaster RFI, after falling out with the movement’s leaders.

He then announced the creation of his own brigade as part of a rapprochement with Mujao, a jihadist group that has broken with Al Qaeda.

He is also thought to be close to leaders of Mali’s Tuareg tribesmen, possibly through one of his many marriages. The Tuareg’s seizure of northern Mali last year was rapidly taken over by jihadists.

It is as yet unclear whether the Algerian hostage-taking was a rapid response to the French intervention in Mali or whether it was preplanned for other motives.

Mr. Belmokhtar, condemned in his absence to life imprisonment by Algerian courts, was already scheduled to be tried in absentia by the Algiers criminal tribunal next Monday on charges that include supplying weapons for attacks on Algerian soil.

Planned targets were said to include pipelines and oil company installations in southern Mali.

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Amazon holiday results to show sales tax impact

SAN FRANCISCO (Reuters) – Acting as a tax collector may have hurt Amazon.com, Inc’s holiday sales analysts and industry executives said, but they expect to know more when the internet retailer reports its fourth-quarter results on January 29.

Best Buy Co., an archrival of Amazon in consumer electronics, saw holiday online sales increase in three states where Amazon started collecting sales tax ahead of the period.

“There was a little softness in states where Amazon is now collecting sales tax,” said R.J. Hottovy, an equity analyst at Morningstar. “That isn’t surprising to me. It levels the playing field for brick-and-mortar retailers.”

Critics of Amazon argued it had an unfair advantage because most retailers have had to collect state sales tax on online sales for years because they have stores and other physical operations in these locations.

But many states, hungry for extra tax revenue in the wake of the 2008 financial crisis, introduced new laws requiring that Internet-only retailers also collect sales tax. Brick-and-mortar retailers hope the requirement will reduce Amazon’s price advantage and help them recoup lost sales.

CHANNELADVISOR DATA

Amazon, the world’s biggest Internet retailer, began collecting sales tax of 7.25 percent to 9.75 percent in California on Sept 15, about two weeks before the start of the fourth-quarter. Third-party sellers on Amazon.com saw a drop in sales during the quarter, compared to other states, according to an analysis by e-commerce firm ChannelAdvisor.

It also started collecting sales tax in Pennsylvania in September and in Texas in July.

Amazon’s fourth-quarter results should provide clues on whether consumers changed their shopping habits when faced with higher taxes on their purchases from the company’s website.

ChannelAdvisor, which helps merchants sell more online, analyzed its clients’ sales on Amazon.com in California, and compared them to other states before and after the sales tax kicked in.

Before Amazon began collecting the tax in California, ChannelAdvisor client sales were 5 percent to 10 percent above other states. The week before the September 15 start of the tax, sales spiked as high as 70 percent compared to other states.

“The surge before the tax went into effect was much larger than I thought it would be,” said Scot Wingo, chief executive of ChannelAdvisor. “Californians definitely bought a lot in the three or four days before the tax went into effect.”

After Amazon began collecting tax, its California sales leveled with other states. Then, in early November, they slipped as much as 10 percent below other states, ChannelAdvisor data showed.

During one of the busiest holiday periods, in late November and early December, sales dipped further in California vs other states. Toward the end of the holiday period, client sales in California recovered, the data showed.

“There was a sales impact of about 10 percent at the worst point of the dip,” Wingo said. EBay, another Amazon rival, is an investor in ChannelAdvisor. Wingo also owned Amazon shares, but sold them in the fourth quarter for personal tax-related reasons.

Amazon’s tax collection in California had the most impact on fourth-quarter sales of more expensive items priced at $ 200 to $ 250, Wingo said.

PRICES, PROFIT

Amazon probably lowered prices by 8 percent to 9 percent on items most affected by this, although it is tricky to separate such reductions from the usual holiday season promotions that were also happening, Wingo said.

The extra price competition may dent Amazon’s profitability in the fourth quarter, Morningstar’s Hottovy said.

Amazon is expected to make 52 cents a share in the fourth quarter, on revenue of $ 22.3 billion, according to Thomson Reuters I/B/E/S. In late October, the company forecast operating results ranging from a profit of $ 310 million to a loss of $ 490 million.

Hottovy expects $ 22.4 billion in revenue and an operating loss of $ 210 million, or a $ 135 million loss after excluding stock-based compensation and other operating expenses.

BEST BUY

In California, Texas and Pennsylvania, Best Buy said it saw a 4 percent to 6 percent increase in online sales during the holiday versus the rest of its chain.

The retailer also saw an increase of 6 percent to 9 percent in online orders that are picked up in its stores in those three states compared with the rest of its chain.

Overall, Best Buy reported better-than-expected holiday sales last week, sending its shares up more than 10 percent.

“This makes Amazon equal to everyone else. They no longer have that sales tax advantage,” said Anne Zybowski, vice president of retail insights at Kantar Retail. “If this had happened to Amazon when they were just a bookseller years ago, they may not be as big as they are now.

Despite the tax changes, Amazon’s consumer electronics prices were still at least 5 percent below Best Buy’s during the holiday season, Zybowski said. But Best Buy may have benefited from even a small change in this area.

“Particularly in consumer electronics, any narrowing of Amazon’s price advantage at the margin is important because Best Buy brings service and other shopper benefits to the category,” she said.

Best Buy will take away people’s old TVs when they buy a new one and the company’s Geek Squad service will install devices in shoppers’ homes, services Amazon does not provide, she noted.

An Amazon spokesman declined to comment when asked if the company saw an impact on fourth-quarter sales from the collection of sales taxes in the three states.

In the past, Amazon executives have said there was little or no impact from such changes in other regions.

Several analysts have argued that shoppers use Amazon for its vast product selection and convenient, fast shipping and returns, and not just its low prices.

“While not great for Amazon, it’s just one of many consumer benefits its service offers,” said Ken Sena, an analyst at Evercore Partners. “And while there may be early effects from this change, I still see usage trends remaining in Amazon’s favor.”

(Editing by Leslie Gevirtz)

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Uma Thurman: Why My Daughter Has Five Names

Mom & Babies
Celebrity Baby Blog

01/17/2013 at 11:00 AM ET

What’s in a name? Apparently every last one on Uma Thurman‘s list of favorites!

After the actress and her boyfriend Arpad Busson revealed they had decided on Rosalind Arusha Arkadina Altalune Florence for their baby girl born in July, it was Thurman’s 14-year-old daughter Maya who found reason in their multitude of monikers.

“[Maya] came up with the best excuse, [which] was that I probably wouldn’t get to have any more children, so I just put every name that I liked into [Luna's],” the Playing for Keeps star, 42, said during a Monday appearance on Late Night with Jimmy Fallon.

Joking that there is a bit of logic behind their “crazy” choice — “The last part makes sense, right?” she says of Luna’s surname –  Thurman admits she and Busson couldn’t compromise.

“We couldn’t quite agree on the name,” she shares. “We call her Luna, so she’s lucky that way.”

Lloyd Bishop/NBC

And, in the long run Thurman and Fallon agree that the “full Catholic” 6-month-old will have no problems brainstorming baby names for her future family.

“The rest she can just name her own children all these interesting names,” quips the proud mama. “Proper Catholic, observant!”

– Anya Leon

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Study: NYC better than LA at cutting kids' obesity

NEW YORK (AP) — A new study shows New York City is doing better than Los Angeles in the battle against childhood obesity, at least for low-income children.

From 2003 to 2011, obesity rates for poor children dropped in New York to around 16 percent. But they rose in Los Angeles and ended at about 20 percent.

The researchers focused on children ages 3 and 4 enrolled in a government program that provides food and other services to women and their young children.

The Centers for Disease Control and Prevention released the study Thursday.

The authors noted that the Los Angeles program has many more Mexican-American kids. Obesity is more common in Mexican-American boys than in white or black kids.

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