Verizon posts weak fourth-quarter, promises a better 2013

(Reuters) - Verizon Communications Inc posted a weaker-than-expected wireless operating profit margin due to hefty costs from smartphones like Apple's iPhone, but the U.S. telephone company promised a big improvement this year as it cuts costs.

While Verizon's fourth-quarter bottom line was weaker than anticipated, investors were encouraged when Chief Financial Officer Fran Shammo said on Tuesday that the company could be in a position to buy back shares sooner than expected and that wireless margins could rise this year to as high as 50 percent.

Shammo said the numbers will be helped by $2 billion in cost cuts at Verizon Wireless, Verizon's mobile venture with Vodafone Group Plc, on top of $5 billion in cuts there in the last three years.

The cuts at Verizon Wireless - the biggest U.S. mobile service provider - will not require extensive layoffs and will come in areas such as call center consolidation and increased efficiency in logistics, Shammo told Reuters.

Shammo also hinted that Verizon may not have to wait until the end of 2013 to buy back shares as he had previously indicated, thanks to the strength of its balance sheet.

"We could do share buybacks at any point in time right now," he told analysts, without giving a specific time frame.

Verizon shares were up 0.6 percent at $42.80 on Tuesday afternoon.

But while some analysts were impressed with the 2013 margin target, others questioned whether it is realistic, considering the prospect of stiffer competition from rivals. Pivotal Research Group analyst Steve Sweeney said the target is "aggressive."

Softbank Corp is seeking to buy 70 percent of No. 3 U.S. mobile service provider Sprint Nextel Corp, and Sprint is looking to buy out Clearwire Corp. Also, No. 4 U.S. mobile service T-Mobile USA, a Deutsche Telekom AG unit, is merging with rival MetroPCS Communications Inc.

"2013 will have a much different competitive landscape," Sweeney said in a research note. "Both new entities will be larger and better capitalized companies than they were in 2012 and represent incremental competition for both Verizon and AT&T."

Verizon Wireless reported a fourth-quarter service profit margin of 41.4 percent based on earnings before interest, taxes, depreciation and amortization, compared with analyst hopes for 42 percent, and with 42.2 percent in the year-ago quarter.

The lower fourth-quarter margin was due to higher-than-expected subsidies paid to smartphone makers such as Apple Inc so that Verizon Wireless could offer a phone discount to customers who sign a long-term contract. Rival AT&T Inc has also warned that high smartphone sales hurt its wireless profit margins because of subsidies.

While Shammo was bullish about the wireless business and Verizon's FiOS home Internet and television services, he warned that the best he could hope for in the company's enterprise business is that 2013 revenue and profit margins stay flat with 2012 because of a lack of clarity on U.S. economic issues.

"In Enterprise, we still see uncertainty around the debt ceiling, deficit reduction, and tax reform," Shammo told analysts on a quarterly earnings conference call where he also cited worries about international economic growth.

The company's fourth-quarter net loss widened to $4.23 billion, or $1.48 per share, from a loss of $2.02 billion, or 71 cents per share in the year-ago quarter.

Excluding unusual items such as the charge from Superstorm Sandy and pension liabilities, Verizon would have earned 45 cents per share, well below Wall Street expectations of 50 cents per share, according to Thomson Reuters I/B/E/S.

Operating revenue rose 4.5 percent to $30.05 billion, compared with expectations of $29.83 billion, according to Thomson Reuters I/B/E/S.

Capital spending for the year was $16.2 billion, including $135 million related to Sandy recovery efforts, and was in line with 2011 spending. Shammo said he expects 2013 capital spending to be flat with 2012.

Verizon said it added 144,000 net customers to its FiOS high-speed Internet service and 134,000 net FiOS TV customers in the quarter. It had already announced 2.1 million net additions of wireless contract customers in the fourth quarter.

AT&T, The No. 2 U.S. mobile service provider, is set to report results on January 24 and Sprint is due to report February 7.

(Additional reporting by Sayantani Ghosh in Bangalore; editing by Jeffrey Benkoe, Maureen Bavdek, Tim Dobbyn and Matthew Lewis)

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NFL lifts suspension of Saints coach Sean Payton

NEW YORK (AP) — Sean Payton is back as coach of the New Orleans Saints.

Payton's season-long suspension for his role in the Saints' bounty program was lifted by NFL Commissioner Roger Goodell on Tuesday, nearly two weeks earlier than expected.

The decision allows Payton to attend the Senior Bowl in Mobile, Ala., on Saturday, where some of the top college players available for the NFL draft will be competing.

Payton, along with assistant head coach Joe Vitt, general manager Mickey Loomis, and four players including Jonathan Vilma, was suspended after an investigation found the club had a performance pool offering cash rewards for key plays, including big hits. The player suspensions eventually were overturned.

"I clearly recognize that mistakes were made, which led to league violations," Payton said in a statement. "Furthermore, I have assured the commissioner a more diligent protocol will be followed."

The suspension was scheduled to end after the Super Bowl on Feb. 3, but was moved up after Payton and Goodell met on Monday.

"Coach Payton acknowledged in the meeting his responsibility for the actions of his coaching staff and players and pledged to uphold the highest standards of the NFL and ensure that his staff and players do so as well," Goodell said in a statement. "'Sean fully complied with all the requirements imposed on him during his suspension.

"More important, it is clear that Sean understands and accepts his responsibilities as a head coach and the vital role that coaches play in promoting player safety and setting an example for how the game should be played at all levels."

Saints owner Tom Benson welcomed back his coach.

"We are all thankful that Sean Payton has been reinstated," Benson said. "We have a lot of work to do and we are in the middle of it right now."

Payton also needs to fill a key position on his coaching staff following the departure last week of offensive line coach and running game coordinator Aaron Kromer, now the offensive coordinator in Chicago.

Loomis and Vitt are in Mobile evaluating players. Loomis said he was caught off guard by the news of Payton's return. But he said having Payton back sooner than expected will help the Saints.

"Every day makes a difference. We've certainly missed Sean in terms of the football team and all the things that go with our business and the game. But look, I miss his friendship. We all miss his friendship. We miss him as a person. I'm excited that he's going to be back here and fired up that he's back."

Vitt said he talked to Payton Tuesday morning and that he should join the Saints' contingent in Alabama on Wednesday.

"We just found out on the way to practice," Vitt said. "Mr. B called Mickey and we're all excited. Sean went and spent the day in New York (Monday). He just got back in Dallas. I talked to him on the phone about 5 o'clock this morning. He's packing his bags so we'll expect he'll be here some time" Wednesday.

Vitt agreed with Loomis that the timing of Payton's return is good for the team.

Payton is "going to hit the ground running with both feet. His jaw is going to be set. He'll have a note pad full of thoughts and ideas and he's going to have to get himself caught up with the evaluation process of our team and looking at film, which he'll do. This is perfect, getting him back now, because he's going to be here for the readings of our players. He's going to be here for the readings of these college seniors. We start handing out unrestricted free agent tape on Thursday and Friday of this week.

"This is where you're building the foundation of your football team, with the evaluation process of these draft eligible juniors and seniors and the free agents that are out there."

There remains one outstanding issue for the Saints stemming from the bounty probe: What will become of the Saints' second pick next spring. As part of the bounty punishment, Goodell fined the Saints $500,000 and took away second-round picks in 2012 and 2013. However, Goodell left open the possibility of restoring the 2013 second-rounder and instead docking the team a later-round pick if he is satisfied with the club's level of cooperation in the bounty matter.

What the Saints do know is that the 49-year-old Payton is set to return to New Orleans for the next five seasons. Earlier this month he signed a contract extension running through the 2017 season.

The coach is the last person punished in the bounty probe to return to work. Before Tuesday, Payton had not been at work since mid-April, when Goodell rejected the coach's appeal of his suspension.

Loomis was suspended for eight games, Vitt for six and former defensive coordinator Gregg Williams remains suspended indefinitely

Vilma and current Saints defensive lineman Will Smith, along with former Saints Scott Fujita and Anthony Hargrove, were given suspensions of various lengths, but never served a game. Their punishments were overturned after lengthy appeals which also coincided with exhaustive litigation in federal court.

The litigation included Vilma's defamation lawsuit against Goodell, which was dismissed by U.S. District Judge Ginger Berrigan last week.

Payton's reinstatement is one more step for the Saints to return to normalcy, but for Vitt, said it doesn't bring closure to the bounty scandal.

"It doesn't for me. You're going to have ask Sean that question, Mickey that question, Vilma that question. It certainly doesn't for me. I can forgive. I'm not going to forget. It is what it is."

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Walters expects to leave hospital soon

NEW YORK (AP) — Barbara Walters says she expects to be home from the hospital soon after taking a spill at a Saturday night party at the British ambassador’s home in Washington.

The veteran ABC newswoman thanked people who expressed concern in a statement read Monday on “The View.”

She says she’s running a low-grade fever and doctors don’t want to release her until her temperature is normal. She says things are going in the right direction and she expects to be home soon.

Her colleagues at “The View” wished her well on the air, although comic Joy Behar couldn’t resist a joke.

Behar urged Walters to get well and to “lay off the Grey Goose” vodka.

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Flu season fuels debate over paid sick time laws

NEW YORK (AP) — Sniffling, groggy and afraid she had caught the flu, Diana Zavala dragged herself in to work anyway for a day she felt she couldn't afford to miss.

A school speech therapist who works as an independent contractor, she doesn't have paid sick days. So the mother of two reported to work and hoped for the best — and was aching, shivering and coughing by the end of the day. She stayed home the next day, then loaded up on medicine and returned to work.

"It's a balancing act" between physical health and financial well-being, she said.

An unusually early and vigorous flu season is drawing attention to a cause that has scored victories but also hit roadblocks in recent years: mandatory paid sick leave for a third of civilian workers — more than 40 million people — who don't have it.

Supporters and opponents are particularly watching New York City, where lawmakers are weighing a sick leave proposal amid a competitive mayoral race.

Pointing to a flu outbreak that the governor has called a public health emergency, dozens of doctors, nurses, lawmakers and activists — some in surgical masks — rallied Friday on the City Hall steps to call for passage of the measure, which has awaited a City Council vote for nearly three years. Two likely mayoral contenders have also pressed the point.

The flu spike is making people more aware of the argument for sick pay, said Ellen Bravo, executive director of Family Values at Work, which promotes paid sick time initiatives around the country. "There's people who say, 'OK, I get it — you don't want your server coughing on your food,'" she said.

Advocates have cast paid sick time as both a workforce issue akin to parental leave and "living wage" laws, and a public health priority.

But to some business owners, paid sick leave is an impractical and unfair burden for small operations. Critics also say the timing is bad, given the choppy economy and the hardships inflicted by Superstorm Sandy.

Michael Sinensky, an owner of seven bars and restaurants around the city, was against the sick time proposal before Sandy. And after the storm shut down four of his restaurants for days or weeks, costing hundreds of thousands of dollars that his insurers have yet to pay, "we're in survival mode."

"We're at the point, right now, where we cannot afford additional social initiatives," said Sinensky, whose roughly 500 employees switch shifts if they can't work, an arrangement that some restaurateurs say benefits workers because paid sick time wouldn't include tips.

Employees without sick days are more likely to go to work with a contagious illness, send an ill child to school or day care and use hospital emergency rooms for care, according to a 2010 survey by the University of Chicago's National Opinion Research Center. A 2011 study in the American Journal of Public Health estimated that a lack of sick time helped spread 5 million cases of flu-like illness during the 2009 swine flu outbreak.

To be sure, many employees entitled to sick time go to work ill anyway, out of dedication or at least a desire to project it. But the work-through-it ethic is shifting somewhat amid growing awareness about spreading sickness.

"Right now, where companies' incentives lie is butting right up against this concern over people coming into the workplace, infecting others and bringing productivity of a whole company down," said John A. Challenger, CEO of employer consulting firm Challenger, Gray & Christmas.

Paid sick day requirements are often popular in polls, but only four places have them: San Francisco, Seattle, Washington, D.C., and the state of Connecticut. The specific provisions vary.

Milwaukee voters approved a sick time requirement in 2008, but the state Legislature passed a law blocking it. Philadelphia's mayor vetoed a sick leave measure in 2011; lawmakers have since instituted a sick time requirement for businesses with city contracts. Voters rejected a paid sick day measure in Denver in 2011.

In New York, City Councilwoman Gale Brewer's proposal would require up to five paid sick days a year at businesses with at least five employees. It wouldn't include independent contractors, such as Zavala, who supports the idea nonetheless.

The idea boasts such supporters as feminist Gloria Steinem and "Sex and the City" actress Cynthia Nixon, as well as a majority of City Council members and a coalition of unions, women's groups and public health advocates. But it also faces influential opponents, including business groups, Mayor Michael Bloomberg and City Council Speaker Christine Quinn, who has virtually complete control over what matters come to a vote.

Quinn, who is expected to run for mayor, said she considers paid sick leave a worthy goal but doesn't think it would be wise to implement it in a sluggish economy. Two of her likely opponents, Public Advocate Bill de Blasio and Comptroller John Liu, have reiterated calls for paid sick leave in light of the flu season.

While the debate plays out, Emilio Palaguachi is recovering from the flu and looking for a job. The father of four was abruptly fired without explanation earlier this month from his job at a deli after taking a day off to go to a doctor, he said. His former employer couldn't be reached by telephone.

"I needed work," Palaguachi said after Friday's City Hall rally, but "I needed to see the doctor because I'm sick."

___

Associated Press writer Susan Haigh in Hartford, Conn., contributed to this report.

___

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

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Band: Beyonce lip synced US anthem at inaugural

WASHINGTON (AP) — Beyonce lip-synced the national anthem during her rousing performance at President Barack Obama's inauguration, according to the U.S. Marine Band.

A band spokeswoman told news outlets Tuesday that the band was notified at the last minute that Beyonce would use a pre-recorded voice track. The band played their instruments live.

All inaugural music is pre-recorded in case weather conditions or other circumstances could interrupt the program.

A representative for Beyonce did not immediately respond to requests for comment. Kelly Clarkson's representative said she sang live to perform "My Country, 'Tis of Thee."

The use of a recording is typical in big events. In 2009, cellist Yo-Yo Ma was questioned about "hand-syncing" for Obama's first inauguration. Ma said instruments weren't functioning properly in 19-degree weather.

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Area home sales up 19% in December

More than 7,000 consumers in the Chicago-area bought themselves a home last month, the best finish for the year since December 2006, just before the local housing market's bubble burst.

December sales of existing homes in the nine-county area rose 19.2 percent from a year ago, to 7,372 single-family homes and condominiums sold, the Illinois Association of Realtors reported Tuesday. The median price of $151,500 recorded for the month rose 4.5 percent, from $145,000 in December 2011.

In terms of volume, it was the best monthly performance for the market since December 2006, when 7,530 homes were sold. Twelve months later, in December 2007, the number of homes sold locally had plunged to 5,033.

While it showed improvement, last month's $151,500 median price was far below the December 2007 market high of $247,800.

Pricing recovery was even more evident within the city of Chicago, which recorded a 14.6 percent year-over-year increase in sales, to 1,806 properties sold at a median price of $185,000, up 19.4 percent from December 2011's $155,000.

The pricing improvement is largely a result of the continued shrinking inventory of quality homes on the market, which for months has meant homes are going under contract faster than they have in the past. Sellers of choice properties, whether they are in the traditional market or foreclosures, are fielding multiple offers from potential buyers.

"The 18.9 percent decrease in market time from the same time in 2011 shows a continued clearing of inventory, of both single-family homes and condominiums, which should prompt action among buyers and sellers and continue to promote home price stabilization," said Zeke Morris, president of the Chicago Association of Realtors.

Sales of Chicago condos swelled to 1,037 units sold, up 17.7 percent from a year ago, and the median sales price of $235,000 for a unit was up 28.8 percent from last year.

The median price is the point at which half the homes are sold for more and half for less.

"I believe we're going to have the most promising spring market we've had in years," said Zeke Morris, president of the Chicago Association of Realtors. "We can give (sellers) a slightly more confident expectation."

The pricing improvement is largely a result of the slim pickings of properties listed for sale, which for months has meant homes are going under contract faster than they have in the past.

Compared to a year ago, inventory has plunged. For instance, in Chicago, there were 14,183 homes for sale in December 2011. Last month, there were 8,036 listed properties, or 43.3 percent less. As a result, the average number of days it took to sell a Chicago home fell almost 19 percent year-over-year, to 77 days last month.

Sellers of choice properties, whether they are in the traditional market or foreclosures, are fielding multiple offers from potential buyers, both owner-occupants and investors.

"We have a lot of pending deals out there," said Mabel Guzman, an @properties real estate agent. "Sellers are holding onto their price, knowing they're the only thing in the market. People are going to get frustrated if there isn't enough product to buy."

For the year, 90,365 homes were sold in the Chicago area, a 26.7 percent increase from 2011, while the median price slipped 1.5 percent, to $160,000. In the city, the annualized median price rose 5.7 percent, to $185,000, for the 22,333 homes sold, a gain of 22.4 percent in sales volume.

According to the Federal Home Loan Mortgage Corp., the average commitment rate for a 30-year, fixed-rate mortgage in the Chicago area was 3.32 percent in December, compared with 3.33 percent in November and 3.94 percent in December 2011.

mepodmolik@tribune.com | Twitter @mepodmolik

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Obama lays out 2nd-term agenda

In his inaugural address, President Barack Obama says enduring security and lasting peace do not require perpetual war. But he said the U.S. will defend itself through 'strengths of arms and rule of law.' (Jan. 21)

WASHINGTON - President Barack Obama and first lady Michelle Obama walked for several minutes along the inauguration parade route this afternoon to the cheers of thousands of people lining the sidewalks in the capital.

The first couple were flanked by security personnel as they walked the route toward the review stand where they will view the inaugural parade. The Obamas made the same gesture four years ago.

Earlier, Obama kicked off his second term with an impassioned call for a more inclusive America that rejects partisan rancor and embraces immigration reform, gay rights and the fight against climate change.

Obama's ceremonial swearing-in at the U.S. Capitol was filled with traditional pomp and pageantry, but it was a scaled-back inauguration compared to the historic start of his presidency in 2009 when he swept into office on a mantle of hope and change as America's first black president

Despite expectations tempered by lingering economic weakness and a divided Washington, Obama delivered a preview of the second-term priorities he intends to pursue, declaring Americans “are made for this moment” and must “seize it together.”

His hair visibly gray after four years in office, Obama called for an end to the political partisanship that marked much of his first term in the White House in bitter fights over the economy with Republicans.

“We cannot mistake absolutism for principle, or substitute spectacle for politics, or treat name-calling as reasoned debate,” Obama said from atop the Capitol steps overlooking the National Mall.

Looking out on a sea of flags, Obama addressed a crowd estimated to be up to 700,000 people - less than half the record 1.8 million who assembled four years ago.

Speaking in more specific terms than expected in a nearly 20-minute inaugural address, he promised “hard choices” to reduce the federal deficit and called for a revamping of the tax code and a remaking of government.

SPEECH TOUCHES ON GAY RIGHTS, CLIMATE CHANGE

"Progress does not compel us to settle centuries-long debates about the role of government for all time -- but it does require us to act in our time," Obama said, shortly after taking the oath from Chief Justice John G. Roberts Jr. 

For the first time ever, an inaugural address mentioned the rights of gay Americans, as Obama declared that America’s "journey is not complete until our gay brothers and sisters are treated like anyone else under the law -- for if we are truly created equal, then surely the love we commit to one another must be equal as well."

The president also insisted on the need to "respond to the threat of climate change," a subject he largely avoided after a stinging loss in Congress early in his first term.

"Some may still deny the overwhelming judgment of science, but none can avoid the devastating impact of raging fires, and crippling drought, and more powerful storms," he said. 

"The path towards sustainable energy sources will be long and sometimes difficult. But America cannot resist this transition; we must lead it.

"That is how we will preserve our planet, commanded to our care by God."

Obama wove those specific policy pledges, along with brief reminders of his proposals for gun control and immigration reform, into a text that, overall, amounted to a strong reaffirmation of the core of liberal, Democratic politics and its belief in the positive role that government can play in the nation’s life.

In a nod to those who do not share that outlook, he noted that Americans "have never relinquished our skepticism of central authority, nor have we succumbed to the fiction that all society’s ills can be cured through government alone."

But, he said, "preserving our individual freedoms ultimately requires collective action."

Obama's swearing-in fell on the same day as the national holiday honoring slain civil rights leader Martin Luther King Jr. -- and the president embraced the symbolism.

He took the oath with his hand on two Bibles: One from President Abraham Lincoln, who ended slavery, and the other from King. Myrlie Evers-Williams, widow of slain civil rights figure Medgar Evers, was given the honor of delivering the invocation at the ceremony.

DURBIN: PRIVATE PARTIES AND (MAYBE) BUDDY GUY

From dawn until dusk, Sen. Dick Durbin is scheduled to be among the constant companions of President Barack Obama, whom he joined starting with an early-morning church service near the White House.

After the swearing-in, Durbin, the No. 2 official at the Senate, said he found Obama's inaugural speech "beautiful."

"I thought he president really captured what the election was about, what the people were saying, we needed to come together -- 'We the People' and to really address the issues that are challenging our nation," said Durbin, a fellow Democrat.

After the inauguration speech, Obama and first lady Michelle Obama sat down as guests of honor at a traditional luncheon at the Capitol. Durbin was there, along with about other 200 high-level officials, including Supreme Court justices, Cabinet officials and congressional leaders.

At 9 o'clock tonight local time, Durbin said, he'll return to the White House to join the Obamas and a select group of friends, family and supporters at an exclusive celebration.

He indicated the timetable was fluid, since a similar party following the balls in 2009 didn't get going until about 11:30 p.m.

Will he make Chicago Mayor Rahm Emanuel's late-night blues party with guitarist Buddy Guy? That runs from 11 p.m. until 3 a.m. "Hope to stay awake long enough," the senator said.

Durbin, 69, a 30-year veteran of Congress, is up for re-election in 2014. He was an early supporter of Obama leading up to his 2008 run, when Democrats had to choose between candidates Obama and Hillary Rodham Clinton.

CHICAGOANS IN D.C. FEEL 'VESTED IN HIS SUCCESS'

Spencer Gould and his wife, Ardenia, of Chicago, arrived at the Capitol early enough to get seats on the front row of their section, directly center of where the president took the oath of office.

For about a minute, Gould said, he considered staying at home in Chicago’s Roseland neighborhood, but quickly realized that he could be no place else but here. Four years ago, he said, he wanted to be part of the historical moment. This time, he came to show his support.

CROWD MAKES LONG DRIVES, BRAVES THE COLD

Hundreds of thousands congregated on the National Mall on Monday, many bundled in gloves and scarves against the cold. Some stopped in front of street vendors to buy buttons with President Obama’s face on them, inaugural coffee mugs or wool hats with Obama spelled in glass beads.

Some had driven all night Sunday to make it to the ceremony by this morning.

FIRST FAMILY'S FASHION CLOSELY WATCHED BY SOME

The American fashion industry held its breath on Inauguration Day for a series of Big Reveals.

Word came within minutes that the navy check coat and dress Michelle Obama wore to the morning prayer service at St. John's church was by American designer Thom Browne, to which she added a belt for the ceremonial swearing-in. Her shoes and accessories were J.Crew. Her necklace was by Cathy Waterman.Former Obama pastor in town

FORMER PASTOR WRIGHT OFFERS ADVICE

The Rev. Jeremiah Wright, the president's former Chicago pastor whose sermons touched off a firestorm in the 2008 political campaign, urged today that Barack Obama heed the words of the late Rev. Martin Luther King Jr. and transform the country into the world's "No. 1 purveyor of peace."

Wright, in the capital today but skipping the inauguration, recalled a speech by King during the Vietnam war, when the civil rights leader denounced the U.S. as "the greatest purveyor of violence in the world."

Tribune reporters Dahleen Glanton, Katherine Skiba, Reuters and the Los Angeles Times contributed.

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RIM shares rise to 13-month high on strategic review hopes

TORONTO (Reuters) - Shares of Research In Motion surged to a 13-month high on Monday after its chief executive said the company may consider strategic alliances with other companies after the launch of devices powered by RIM's new BlackBerry 10 operating system.

In an interview with a German newspaper on Monday, Thorsten Heins, the chief executive, said RIM's ongoing review could potentially lead to the sale of its handset business or the licensing of its software to rival smartphone companies.

"The main thing for now is to successfully introduce Blackberry 10. Then we'll see," Heins was reported as saying.

The company, set to launch its new line of devices on January 30, played down the significance of the comments, saying that Heins's comments were in line with his prior statements.

"We do not have anything new to report on our strategic review at this time," said RIM spokesman Nick Manning.

The comments sent RIM's Toronto-listed shares up as much as 17.6 percent, with the shares up 15.3 percent at C$18.12 at 1400 ET. The company's typically more-active Nasdaq-listed shares were not being traded on Monday because U.S. financial markets were closed for a public holiday.

RIM announced a far-reaching strategic review last May in which it was widely expected to examine all options, from software licensing deals to an outright sale of the company.

The company virtually invented mobile email with its first BlackBerry devices more than a decade ago, but its market share has evaporated as consumers have flocked to Apple Inc's iPhone and devices based on Google's Android operating system. RIM now hopes its revamped line of touchscreen and keyboard devices will help it win back market share.

RIM shares are down almost 90 percent from an all-time high of over C$150 in 2008, but the stock has rallied in the last four months as the launch of the BlackBerry 10 devices nears. Its shares have nearly tripled in value since dipping as low as C$6.10 in late September.

The stock rose more than 6 percent on Friday alone, after an influential analyst raised his rating on the company and said that the BlackBerry 10 operating system performed as well or better than rivals in recent tests.

Byron Capital analyst Tom Astle on Monday raised his price target on RIM shares to C$18 from C$14.

"There are several emerging datapoints that suggest this may be a more successful product cycle than many expected," said Astle in a note to clients.

(Reporting by Euan Rocha; Editing by Frank McGurty and Leslie Adler)

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Harbaugh brothers take 49ers, Ravens to Super Bowl

This Super Bowl will be filled with firsts — and one significant last.

The Harbaughs, San Francisco's Jim and Baltimore's John, will be the first pair of brothers to coach against each other in the NFL title game.

Quarterbacks Colin Kaepernick of the 49ers and Joe Flacco of the Ravens each will be playing in his first Super Bowl — where success is the ultimate measure of elite QBs.

It'll be Baltimore's first crack at a championship in a dozen years, San Francisco's first in 18. They are a combined 6-0 in Super Bowls (the 49ers own five of those victories), so one club will lose the big game for the first time.

And middle linebacker Ray Lewis, Baltimore's emotional leader and top tackler, will be playing in the final game of his 17-year career before heading into retirement.

"This is our time," Lewis pronounced.

For all of those story lines, none is expected to command as much attention as Harbaugh vs. Harbaugh. The game in New Orleans on Feb. 3 was quickly given all manner of nicknames: The Brother Bowl. The Harbaugh Bowl. The Har-Bowl. The Super-Baugh.

The Harbaughs' sister, Joani Crean, wrote in a text to The Associated Press: "Overwhelmed with pride for John, Jim and their families! They deserve all that has come their way! Team Harbaugh!"

As John prepared to coach the Ravens in the AFC championship game Sunday night, he watched on the stadium's big video screen as Jim's 49ers wrapped up the NFC championship.

John looked into a nearby TV camera, smiled broadly and said: "Hey, Jim, congratulations. You did it. You're a great coach. Love you."

Less than four hours later, the Ravens won, too. Some siblings try to beat each other in backyard games. These guys will do it in the biggest game of all.

Who's a parent to cheer for?

During the 2011 regular season, the Harbaughs became the only brothers to coach against each other in any NFL game (the Ravens beat the 49ers 16-6 on Thanksgiving Day that year).

The NFC West champion 49ers (13-4-1) opened as 5-point favorites, seeking a record-tying sixth Super Bowl title to add to those won by Hall of Fame quarterbacks Joe Montana and Steve Young.

Lewis was the MVP when the AFC North champion Ravens (13-6) beat the New York Giants in 2001.

With Kaepernick's terrific passing — he was 16 of 21 for 233 yards and a touchdown in only his ninth career NFL start — and two TD runs by Frank Gore, San Francisco erased a 17-point deficit to beat the Atlanta Falcons 28-24 Sunday.

Baltimore then fashioned a comeback of its own, scoring the last 21 points to defeat the New England Patriots 28-13, thanks in large part to Flacco's three second-half touchdown tosses, two to Anquan Boldin. Lewis and the rest of Baltimore's defense limited the high-scoring Patriots to one touchdown.

In the often risk-averse NFL, each Harbaugh made a critical change late in the regular season in a bid to boost his team's postseason chances. Clearly, both moves worked.

After 49ers quarterback Alex Smith, the starter in last season's overtime NFC title game loss to the Giants, got a concussion, Jim switched to Kaepernick for Week 11 — and never switched back. Now San Francisco has its first three-game winning streak of the season, at precisely the right time.

Baltimore, meanwhile, was in the midst of a three-game losing streak when John fired offensive coordinator Cam Cameron and promoted quarterbacks coach Jim Caldwell to replace him.

The 50-year-old John is 15 months older than Jim and generally the less demonstrative of the pair, although John certainly did not lack intensity while making his case with officials a couple of times Sunday.

The ever-excitable Jim — who was treated for an irregular heartbeat in November — was up to his usual sideline antics in Atlanta.

He spun around and sent his headset flying when the original call stood after he threw his red challenge flag on a catch by the Falcons. He hopped and yelled at his defense to get off the field after their key fourth-down stop with less than 1½ minutes left. He made an emphatic-as-can-be timeout signal with 13 seconds remaining.

Expect CBS to fill plenty of time during its Super Bowl broadcast with shots of Jim, that trademark red pen dangling in front of his chest, and John, who usually wears a black Ravens hat. That is sure to be a focal point, right up until they meet for a postgame handshake in two weeks' time.

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AP Sports Writer Janie McCauley in San Francisco contributed to this report.

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Follow Howard Fendrich on Twitter at http://twitter.com/HowardFendrich

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Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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Joseph Gordon-Levitt mines the humor in porn for “Don Jon”

PARK CITY, Utah (Reuters) – After a remarkable run with leading roles in films such as “The Dark Knight Rises” and “Inception,” actor Joseph Gordon-Levitt stepped behind the camera to direct “Don Jon’s Addiction,” a raunchy comedy that premiered at the Sundance Film Festival.

“Don Jon’s Addiction,” which Gordon-Levitt also wrote and stars in, leads a slate of films about sex on this year’s Sundance roster.

The film follows the story of Jon, a handsome young man who is unable to maintain a relationship, due to his addiction to pornography.

When Jon meets Barbara (Scarlett Johansson), a beautiful but high-maintenance woman obsessed with Hollywood romantic comedies, and Esther (Julianne Moore), an emotionally fragile widow, he embarks on a journey of self-discovery.

Gordon-Levitt, 31, a former child star who has risen through the ranks of television and independent film to become one of Hollywood’s most bankable actors, said he thought it would be “hilarious” to pair a porn addict with a woman addicted to romance films.

“I wanted to tell a love story, and in my observations, what gets in the way of love most the time is how people objectify each other,” the actor told Reuters on Saturday.

While the story uses pornography as a device, Gordon-Levitt emphasized it was not meant as a commentary on porn addiction.

“I wasn’t really focused on porn or porn addiction. It was really, to me, more of a metaphor,” he said. “It is astonishing how prevalent it is in our culture today.”

Moore said the story reflected what is happening in modern society and culture.

“Both (characters) create expectations that people can’t authentically meet in a relationship,” Moore said. “We have so much of that in our lives right now in the world, with all the media influences, so people are growing up with this expectation that this is how you have a relationship.”

“Don Jon” and other festival films such as “The Look of Love,” “Lovelace,” “kink” and “Interior. Leather Bar,” explore the ways sex affects individuals and their ability to form relationships.

Actor Tony Danza, who worked with Gordon-Levitt in the 1994 film “Angels in the Outfield” and plays his father in “Don Jon,” said the film would spark conversation.

“It’s just an uncomfortable subject, which lights everyone’s fire,” Danza said. “It exposes human nature, albeit with a sometimes uncomfortable subject. But he exposes a real slice of human nature, and it’s really prevalent right now.”

MODERN DAY DON JUAN

Gordon-Levitt, who founded the HitRECord project that brings together an online community of creative artists, said he found inspiration for “Don Jon’s” humor on social media platforms.

“If you go on Twitter, Tumblr, Facebook, and you look at the humor on there, you might call it smutty, you might call it raunchy, but there’s also a sort of honesty to it,” he said.

Gordon-Levitt said he set out to shake up assumptions about porn addiction by playing his character “Jon” against type. Instead of playing a socially awkward guy who turns to porn because he cannot connect with women, “Jon” is a buff lothario. While he has plenty of female companions, Jon’s porn addiction warps his views and expectations of women and sabotages his relationships.

Jon is portrayed as an Italian-American, but Gordon-Levitt said the “archetype is beyond ethnicity.”

“I thought, ‘who is the current-day Don Juan,’ and the first thing I thought of was that guy with too much gel in his hair and a gym body … I loved it instantly and thought it would be so funny to play that part.”

Gordon-Levitt said he hoped audiences come away from the film “wanting to engage with each other.”

“I would hope people … examine each other as unique individuals as opposed to items on a checklist, and I hope they have a great time and laugh,” he said. “And I hope they go home and have transcendent sex.”

(Editing by Stacey Joyce)

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