Groupon Shares Crumple After Dismal Outlook, Take-Rate Cut

SAN FRANCISCO (Reuters) - Groupon Inc lost a quarter of its market value on Wednesday after the company revealed it began to take a smaller cut of revenue on daily deals during the holidays, sacrificing revenue and profits to attract and keep merchants.

The cut in its "take rate", which some analysts had said was needed to revive flagging interest among merchants in its Internet offers, was a blow to fourth-quarter results. And a sharper-than-expected post-holiday slowdown in its new e-commerce business contributed to a disappointing first-quarter sales forecast.

The stream of bad numbers, which included a surprise loss in the fourth quarter, drove Groupon's stock down 26 percent to $4.43 in after hours trade. Overall, the company has shed more than three-quarters of its value since debuting at $20 in November of 2011.

"This raises questions about how these guys are going to be able to scale the business," said Tom White, an analyst at Macquarie. "The forecast is underwhelming."

Groupon is among a group of consumer-focused Internet startups that went public to much fanfare in 2011 - before losing massive chunks of market value as investors realized they had over-rated their prospects.

Within a year, Groupon had run into problems dealing with European merchants and sustaining interest among users as deals fever receded. In 2012, analysts speculated that Chief Executive Andrew Mason, known for a quirky sense of humor, may have fallen out of favor with the board.

A company spokesman said Mason remained in charge and the CEO addressed analysts on Wednesday's post-results call.

Groupon reported fourth-quarter revenue rose 30 percent to $638.3 million from $492.2 million in the year-ago period. But it slid into the red with a 1 cent per share loss excluding items, versus expectations for a slim profit of 3 cents a share.

It forecast first-quarter revenue of $560 million to $610 million, sharply below the $650 million average estimate of analysts polled by Thomson Reuters I/B/E/S.

Chief Financial Officer Jason Child told Reuters that Groupon began sharing more money from its deals with merchants early in the fourth quarter, to persuade them to come onboard and run an offer for the first time, or work on another.

This was done selectively in the United States and in Europe, he added.

Historically, Groupon has kept about 40 percent of the money generated by daily deals. That declined to about 35 percent in the fourth quarter. Groupon then "fine tuned" take rates later in the quarter and Child said the company expects profitability to improve as a result.

"We are focused on driving growth," he said in an interview. "We will make the investments we feel we need to optimize for growth and merchant profitability."

THE GOODS ON EUROPE

Merchants have complained that Groupon takes too large a cut of online offers.

Groupon executives forecast long-term take rates of 30 percent to 40 percent for the daily deals business, during a conference call with analysts. One of the reasons Groupon reduced take rates was to create more daily deals for a new business called Local Marketplace, which launched in November.

Groupon has mostly focused on sending daily emails to customers offering vouchers for activities in their area. Local Marketplace relies instead on people searching for something to do or buy nearby, such as an oil change or a massage. By the end of the third quarter, before the launch, Groupon had amassed an online store of more than 27,000 deals for the new marketplace.

Analysts have said the move has potential because Groupon's deals may be more likely to show up in Google searches. By the end of 2012, Groupon claimed almost 37,000 active deals running in North America, and many were longer-term offers for Local Marketplace.

For now, Groupon Goods, the company's discounted product sales business, generated a lot of the fourth-quarter revenue growth, though it's seasonally volatile and generates lower margins than daily deals.

Groupon's limp outlook revived fears its business model may be in jeopardy. Chief among their concerns have been intensifying competition in e-commerce, and a struggling European division walloped by the recession there.

Executives warned a turnaround effort there would take time, and signaled that cost cuts are coming for the company's International business.

Groupon is trying to fix it by reducing the size of discounts on deals there and testing faster payments to higher-quality merchants. Technology used to automate its U.S. operations and sales efforts is being rolled out in Europe now.

Kal Raman, chief operating officer, said more than the twice the number of people are needed to handle and process an International division deal, than in the United States.

A Groupon spokesman said there are no "definite" plans for International job cuts, but there were staff reductions in the United States when the company automated.

"That is an enormous opportunity to organize Groupon's operations to be both more efficient," Raman told analysts during the conference call.

(Reporting by Alistair Barr; Editing by David Gregorio, Richard Chang and Tim Dobbyn)

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Tribune Co. hires advisors to explore sale of newspaper unit

Tribune Co. has hired investment bankers to advise the media company on the potential sale of its newspaper publishing unit.

The company announced that it has retained JPMorgan Chase & Co. and Evercore Partners to assess whether to sell the division that includes the Los Angeles Times, Chicago Tribune and six other daily newspapers.

The bankers will analyze bids from suitors, but their hiring does not necessarily mean that the assets would be sold.

"There is a lot of interest in our newspapers, which we haven't solicited," Gary Weitman, a Tribune spokesman, said in a statement. "Hiring outside financial advisors will help us determine whether that interest is credible, allow us to consider all of our options, and fulfill our fiduciary responsibility to our shareholders and employees."

Tribune hopes to sell the newspaper group intact instead of selling each paper individually, according to a person familiar with the matter.

The Chicago company has a healthy balance sheet and doesn't feel financial pressure to sell the properties, according to the person. It's unclear how long the process could take.

There has been widespread speculation that Tribune would attempt to unload the newspaper business to focus on its more promising television operations. Rupert Murdoch's News Corp. is among the possible bidders for the newspaper assets.

Tribune emerged from its four-year bankruptcy at the end of 2012 and appointed broadcasting veteran Peter Liguori as chief executive in January.

Evercore Partners, a boutique investment bank, also is working for the parent company of the New York Times on its planned divestiture of the Boston Globe.

walter.hamilton@latimes.com

andrew.tangel@latimes.com

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Cablevision Sues Viacom Over Bundled Channels

You pay too much for pay TV because your cable company is forced to purchase channels in bundles from media companies like Viacom — if it wants to offer MTV, it has to pay for CMT Pure Country and Teen Nick as well. Now one cable provider has had enough, and is suing for the right to purchase channels à la carte.

Cablevision, a New York-based cable TV provider, filed an antitrust lawsuit against Viacom on Tuesday in federal court hoping to stop the media conglomerate from forcing Cablevision to pay for channels its customers don’t watch. In order to secure rights to broadcast Nickelodeon, Comedy Central, and MTV, the company states that Viacom has unfairly bundled less-popular ancillary channels.

The pay-TV provider names 14 channels that it says Viacom coerced it into including in its lineup by threatening massive financial penalties. By forcing the company to buy all the channels, Cablevision says Viacom is unlawfully “block booking” — a form of tying that conditions of the sale of a package of rights on the purchaser’s taking of other rights.

The actual lawsuit isn’t available yet, but Cablevision released the following statement:

“The manner in which Viacom sells its programming is illegal, anti-consumer, and wrong. Viacom effectively forces Cablevision’s customers to pay for and receive little-watched channels in order to get the channels they actually want. Viacom’s abuse of its market power is not only illegal, but also prevents Cablevision from delivering the programming that its customers want and that competes with Viacom’s less popular channels.”

Viacom isn’t the only media company that forces pay-TV providers to purchase bundles of channels in order to secure high-value offerings. Disney’s ESPN network comes with a slew of ESPN channels that providers need to purchase.

The 14 channels Cablevision feels it shouldn’t have to carry are: Centric
, CMT,
 MTV Hits,
 MTV Tr3s,
 Nick Jr., 
Nicktoons, 
Palladia, 
Teen Nick, 
VH1 Classic, 
VH1 Soul, 
Logo, 
CMT Pure Country, 
Nick 2, and 
MTV Jams.

Cablevision is seeking a permanent injunction against Viacom making the licensing of ancillary channels part of the deal when licensing the channels people actually watch.

Viacom has responded to the legal action by Cablevision with the following statement:

“At the request of distributors, Viacom and other programmers have long offered discounts to those who agree to provide additional network distribution. Many distributors take advantage of these win-win and pro-consumer arrangements. Reflecting the highly competitive cable programming business, these arrangements have been upheld by a number of federal courts and on appeal. Viacom will vigorously defend this transparent attempt by Cablevision to use the courts to renegotiate our existing two month old agreement.”

This isn’t the first time bundled channels have been dragged into the courts. A group of pay-TV subscribers filed a class-action suit against programmers alleging that consumers were forced to accept bundled packages of channels. The suit was thrown out because the plaintiffs had failed to allege cognizable injury to competition.

If Cablevision’s lawsuit succeeds, it may be the end of unwatched channels filling your subscription lineup and could potentially lower your pay-TV bill. It’ll also be bad news for fans of Centric. Whatever that is.

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Advanced Breast Cancer May Be Rising Among Young Women, Study Finds

The incidence of advanced breast cancer among younger women, ages 25 to 39, may have increased slightly over the last three decades, according to a study released Tuesday.

But more research is needed to verify the finding, which was based on an analysis of statistics, the study’s authors said. They do not know what may have caused the apparent increase.

Some outside experts questioned whether the increase was real, and expressed concerns that the report would frighten women needlessly.

The study, published in The Journal of the American Medical Association, found that advanced cases climbed to 2.9 per 100,000 younger women in 2009, from 1.53 per 100,000 women in 1976 — an increase of 1.37 cases per 100,000 women in 34 years. The totals were about 250 such cases per year in the mid-1970s, and more than 800 per year in 2009.

Though small, the increase was statistically significant, and the researchers said it was worrisome because it involved cancer that had already spread to organs like the liver or lungs by the time it was diagnosed, which greatly diminishes the odds of survival.

For now, the only advice the researchers can offer to young women is to see a doctor quickly if they notice lumps, pain or other changes in the breast, and not to assume that they cannot have breast cancer because they are young and healthy, or have no family history of the disease.

“Breast cancer can and does occur in younger women,” said Dr. Rebecca H. Johnson, the first author of the study and medical director of the adolescent and young adult oncology program at Seattle Children’s Hospital.

But Dr. Johnson noted that there is no evidence that screening helps younger women who have an average risk for the disease and no symptoms. “We’re certainly not advocating that young women get mammography at an earlier age than is generally specified,” she said.

Expert groups differ about when screening should begin; some say at age 40, others 50.

Breast cancer is not common in younger women; only 1.8 percent of all cases are diagnosed in women from 20 to 34, and 10 percent in women from 35 to 44. However, when it does occur, the disease tends to be more deadly in younger women than in older ones. Researchers are not sure why.

The researchers analyzed data from SEER, a program run by the National Cancer Institute to collect cancer statistics on 28 percent of the population of the United States. The study also used data from the past when SEER was smaller.

The study is based on information from 936,497 women who had breast cancer from 1976 to 2009. Of those, 53,502 were 25 to 39 years old, including 3,438 who had advanced breast cancer, also called metastatic or distant disease.

Younger women were the only ones in whom metastatic disease seemed to have increased, the researchers found.

Dr. Archie Bleyer, a clinical research professor in radiation medicine at the Knight Cancer Institute at the Oregon Health and Science University in Portland who helped write the study, said scientists needed to verify the increase in advanced breast cancer in young women in the United States and find out whether it is occurring in other developed Western countries. “This is the first report of this kind,” he said, adding that researchers had already asked colleagues in Canada to analyze data there.

“We need this to be sure ourselves about this potentially concerning, almost alarming trend,” Dr. Bleyer said. “Then and only then are we really worried about what is the cause, because we’ve got to be sure it’s real.”

Dr. Johnson said her own experience led her to look into the statistics on the disease in young women. She had breast cancer when she was 27; she is now 44. Over the years, friends and colleagues often referred young women with the disease to her for advice.

“It just struck me how many of those people there were,” she said.

Dr. Donald A. Berry, an expert on breast cancer data and a professor of biostatistics at the University of Texas’ M. D. Anderson Cancer Center in Houston, said he was dubious about the finding, even though it was statistically significant, because the size of the apparent increase was so small — 1.37 cases per 100,000 women, over the course of 30 years.

More screening and more precise tests to identify the stage of cancer at the time of diagnosis might account for the increase, he said.

“Not many women aged 25 to 39 get screened, but some do, but it only takes a few to account for a notable increase from one in 100,000,” Dr. Berry said.

Dr. Silvia C. Formenti, a breast cancer expert and the chairwoman of radiation oncology at New York University Langone Medical Center, questioned the study in part because although it found an increased incidence of advanced disease, it did not find the accompanying increase in deaths that would be expected.

A spokeswoman for an advocacy group for young women with breast cancer, Young Survival Coalition, said the organization also wondered whether improved diagnostic and staging tests might explain all or part of the increase.

“We’re looking at this data with caution,” said the spokeswoman, Michelle Esser. “We don’t want to invite panic or alarm.”

She said it was important to note that the findings applied only to women who had metastatic disease at the time of diagnosis, and did not imply that women who already had early-stage cancer faced an increased risk of advanced disease.

Dr. J. Leonard Lichtenfeld
, deputy chief medical officer of the American Cancer Society, said he and an epidemiologist for the society thought the increase was real.

“We want to make sure this is not oversold or that people suddenly get very frightened that we have a huge problem,” Dr. Lichtenfeld said. “We don’t. But we are concerned that over time, we might have a more serious problem than we have today.”

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DealBook: Wall Street Pay Rises, for Those Who Still Have a Job

7:39 p.m. | Updated

Wall Street may be shrinking — cutting thousands of jobs over the last year — but for those who remain, the pay is still very lucrative.

The average cash bonus for those employed in the financial industry in New York last year rose roughly 9 percent, to $121,900, Thomas P. DiNapoli, New York State’s comptroller, said on Tuesday.

Cash bonuses in total are forecast to increase by roughly 8 percent, to $20 billion this year.

The total, however, is down from 2010, when it was $22.8 billion. Wall Street’s peak came in 2006, before the financial crisis, with a total $34.3 billion in bonuses. The year-end bonus can account for the bulk of a finance professional’s annual compensation.

The report from the state comptroller’s office gives estimates on the bonuses, based on tax withholding data, data from banks and conversations with industry experts. It came the same day that JPMorgan Chase, one of the country’s biggest banks, announced it was eliminating 17,000 jobs over the next two years through layoffs and attrition, adding its name to a string of large banks that continue to cut jobs to reduce expenses.

Wall Street has regained 30 percent of the 28,300 jobs lost during the financial crisis, Mr. DiNapoli said. And firms are continuing to streamline as they cope with a sluggish economic recovery, difficult markets and a heavier regulatory burden. While financial industry employment in New York City was steady in the first half of 2012, it was down slightly in the second half of the year, the comptroller’s office said.

“Wall Street is still in transition, but it is very slowly adjusting to changes in its economic and regulatory environment,” he said.

In an effort to hold down — albeit temporarily — compensation costs, a number of financial firms have deferred cash payments to employees in recent years. Mr. DiNapoli said on Tuesday that part of the increase in 2012 was cash promised in recent years but actually paid out last year. He said that it was difficult to break out what percentage of the total was deferrals, but he believed that it was still a small part of the total.

The ebbs and flows of Wall Street pay have a major impact on the economy of New York City, where 169,700 are employed in finance. Local businesses like restaurants, luxury goods retailers and the upper end of the real estate market pin their fortunes to the flood of cash from year-end bonuses.

Before the start of the financial crisis, business and personal income tax collections from finance-related activities accounted for up to 20 percent of New York State tax revenue. In 2012, that contribution fell to 14 percent.

Yet finance remains the best paying sector in New York City, Mr. DiNapoli told reporters during a conference call.

All told, the average pay package for securities industry employees in New York was $362,900 in 2011, the last year for which data is available, almost unchanged from 2010.

“Profits and bonuses rebounded in 2012, but the industry is still restructuring,” Mr. DiNapoli said. Despite its smaller size, the securities industry is still a very important part of the New York City and New York State economies.”

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A cosmic gift to L.A.

One night on Mt. Wilson about 1908, a short, powerfully built man with a handlebar mustache looked through the largest telescope in the world. What he saw transformed him, and would put Los Angeles at the forefront of a movement to make astronomy the people's science.

We may never know whether Col. Griffith J. Griffith saw the rings of Saturn or another celestial object with the then-new 60-inch reflector telescope, but we can be sure that it inspired his vision of a world-class observatory for the people of Los Angeles, allowing the masses a glimpse of the heavens.

"If all mankind could look through that telescope," he said that night, "it would change the world."

PHOTOS: Images of space

Griffith's contribution was not just his namesake observatory, but his rejection of the notion more common in his time that an observatory belonged on a remote mountaintop and should be restricted to scientists.

Griffith sought to make astronomy a public science — a notion embodied by Griffith Observatory, built near what is now the middle of the city, where it is accessible to anyone.

Or, as observatory Director Ed Krupp says: "Location, location, location."

The observatory has embraced this public-spirited view of science in other ways too: From its beginning in the 1930s, it was popularized by Hollywood, becoming a movie icon in its own right.

"Griffith had an inkling of the power of motion pictures and he wanted a motion picture theater of some kind incorporated into this public observatory," Krupp says. "The planetarium hadn't been invented at the time ... and so a movie theater was really the closest thing that he could imagine to an immersive experience in astronomy and in science."

The 1955 film "Rebel Without a Cause" made the observatory an international emblem of the city, but even before the building opened in 1935, it was used to film scenes in Gene Autry's bizarre cowboy-science fiction mash-up "The Phantom Empire," Krupp says. "At the time, the building seemed classic yet futuristic, and that made it a draw for science fiction," Krupp says. "It was, in fact, the palace of Ming the Merciless on the Planet Mongo in the Flash Gordon space opera."

Today, "its stardom attracts a steady stream of visitors from all over the planet," he says.

Griffith and the observatory were a main focus of a program titled "Making Astronomy Public, Los Angeles Style" held during the American Astronomical Society meeting held earlier this year in Long Beach.

Speakers at the meeting sought to expand the conventional view of Griffith, who donated about 3,000 acres for a city park in 1896, shot his wife in the head in 1903 and served two years in prison for assault with a deadly weapon.

He was a despised character in Los Angeles after the shooting, says Anthony Cook, an astronomer at the observatory who spoke at the conference. But although many have questioned whether the observatory was an attempt to buy back the goodwill of the city, Cook says the gift was sincere.

"He came out of San Quentin after two years really a reformed person. He stayed away from alcohol, he actually supported his ex-wife, any philanthropic enterprise that she wanted to do, helped his son maintain caring for her, and also turned his attentions to what he hoped would benefit everybody, which was by developing Griffith Park."

A onetime newspaper reporter who covered mining and became wealthy as an expert on the subject, Griffith remained a popularizer throughout his life. In drafting the observatory's detailed specifications, he had lengthy discussions with George Ellery Hale, who with Andrew Carnegie founded the first astrophysical telescope in Los Angeles, and Walter Adams, who later became director of the Mt. Wilson Observatory.

Although an observatory — or at least a tower with a telescope — had been suggested for the highest point in the park as early as 1897, it wasn't until Griffith's epiphany on Mt. Wilson that he broadened his vision into an ambitious plan for a large observatory and hall of science.

"Griffith was very civic-minded," Cook says. "He wanted to do things unifying the huge, diverse population settled in Los Angeles."

Before Griffith died in 1919, he established a generous trust fund to build an observatory in Griffith Park — when the time was right. Perhaps due to his lingering notoriety, nothing was done until the 1930s, when a handful of major U.S. cities began building the newly invented planetariums. But unlike those being constructed elsewhere, Los Angeles' planetarium would be a part of what is primarily an observatory.

A competition was held for the design of the building — Richard Neutra proposed a sleek Art Deco structure that raises tantalizing possibilities of what might have been — and prominent civic architects John C. Austin and Frederick M. Ashley were chosen.

The result was what the Smithsonian Institution's David DeVorkin — a former observatory tour guide — calls "the hood ornament of Los Angeles."

True to its public aspirations, the observatory emphasized showmanship. The facility's Hollywood connections meant it could tap skilled studio artists and technicians for exhibits and planetarium shows.

The philosophy from the beginning was to turn visitors into observers in a building full of scientific instruments, Krupp says. In fact, the $93-million renovation and expansion of the observatory in 2006 was guided by the concept that the entire building is an instrument.

Krupp returned to Griffith's famous quote on Mt. Wilson: "If all mankind could look through that telescope it would change the world."

It reflects Griffith's view that seeing into the cosmos could affect people personally, and perhaps transform society. That's what makes his observatory so special, Krupp says: "He wanted a place that would make the universe intelligible to the public through personal engagement with the sky."

larry.harnisch@latimes.com

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The First Kickstarter Film to Win an Oscar Takes Home Crowdsourced Gold

A great many notable things happened during Sunday night’s Oscars telecast: The First Lady announced the Best Picture winner, a movie based on a Wired story took home Best Picture, and William Shatner showed up to give some much-needed coaching to host Seth MacFarlane.

But the coolest, less talked-about bit of news from last night’s show is reserved for Inocente, the first Kickstarter-funded film to win an Oscar. The film, about a 15-year-old homeless girl and aspiring artist, won the little gold man in the Best Documentary (Short Subject) category during the ceremony. Surprisingly the film, which raised $52,527 on the crowdfunding site, wasn’t even the only film up for an award with origins on the site. Its competition in the short documentary category — Kings Point — was also a Kickstarter project, as was the live-action short Buzkashi Boys. Three Kickstarted films were nominated in previous years, although none of them won.

“We like seeing that these projects are not just getting funded but that they’re being recognized by curators and the powers-that-be — that’s meaningful,” Kickstarter co-founder Yancey Strickler told Wired. “I think within the independent film world the word is out about the power of Kickstarter.”

Inocente’s win is yet another indicator that the site is in the early stages of becoming a big player in the film world – sort of a crowd-funded version of the Weinstein Company. Just last month the company announced it had surpassed $100 million in donations to independent films, and funded 10 percent — 17 films total — of the Sundance Film Festival slate this year. In addition to raising cash, the platform also creates home-grown supporters in the form of each movie’s backers.

“It really helped galvanize a community,” Seth Fine, the co-director of Inocente told Mashable on Sunday. “It helped fund a bunch of the film and kept us going through post-production. It’s a great outlet for films especially for documentaries.”

The Academy wasn’t the only organization to recognize Kickstarter films over Oscar weekend, two crowd-backed films — Gimme the Loot and The Waiting Room also got honors at the Independent Spirit Awards on Saturday. Next month, a whole slew of Kickstarter-backed movies will be headed to South By Southwest, where the site’s films like Brooklyn Castle and Gimme the Loot did great in 2012. Proof positive that there’s more than one way to produce a good movie. “We’re excited when anyone uses the platform and when work is recognized it just shows that this method of creating art is a very valid one,” Strickler said. “And it’s one that can fit side-by-side with any other.”

Check out the trailer for Inocente below. The film is also available on iTunes for those who want to watch the whole thing.

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‘Identity Thief’ tops box office with $14 million

NEW YORK (AP) — A week after losing the box office title to Bruce Willis, Melissa McCarthy took it back again.

McCarthy’s road trip comedy “Identity Thief” topped the box office in its third week of release on Oscar weekend with $ 14 million for Universal. 20th Century Fox‘s “A Good Day to Die Hard,” starring Willis, slid to fifth with $ 10.1 million.

The top 20 movies at U.S. and Canadian theaters Friday through Sunday, followed by distribution studio, gross, number of theater locations, average receipts per location, total gross and number of weeks in release, as compiled Monday by Hollywood.com are:

1. “Identity Thief,” Universal, $ 14,017,085, 3,222 locations, $ 4,350 average, $ 93,619,615, three weeks.

2. “Snitch,” Lionsgate, $ 13,167,607, 2,511 locations, $ 5,244 average, $ 13,167,607, one week.

3. “Escape From Planet Earth,” Weinstein Co., $ 10,682,037, 3,353 locations, $ 3,186 average, $ 34,812,699, two weeks.

4. “Safe Haven,” Relativity Media, $ 10,454,713, 3,223 locations, $ 3,244 average, $ 47,916,356, two weeks.

5. “A Good Day to Die Hard,” Fox, $ 10,165,633, 3,555 locations, $ 2,860 average, $ 51,967,897, two weeks.

6. “Dark Skies,” Weinstein Co., $ 8,189,166, 2,313 locations, $ 3,540 average, $ 8,189,166, one week.

7. “Silver Linings Playbook,” Weinstein Co., $ 5,750,866, 2,012 locations, $ 2,858 average, $ 107,176,012, 15 weeks.

8. “Warm Bodies,” Lionsgate, $ 4,825,388, 2,644 locations, $ 1,825 average, $ 58,243,441, four weeks.

9. “Beautiful Creatures,” Warner Bros., $ 3,608,333, 2,950 locations, $ 1,223 average, $ 16,570,598, two weeks.

10. “Side Effects,” Open Road Films, $ 3,357,039, 2,070 locations, $ 1,622 average, $ 25,099,555, three weeks.

11. “Zero Dark Thirty,” Sony, $ 2,230,084, 1,197 locations, $ 1,863 average, $ 91,539,075, 10 weeks.

12. “Argo,” Warner Bros., $ 1,827,165, 802 locations, $ 2,278 average, $ 129,653,502, 20 weeks.

13. “Hansel and Gretel: Witch Hunters,” Paramount, $ 1,684,532, 1,425 locations, $ 1,182 average, $ 52,945,086, five weeks.

14. “Life of Pi,” Fox, $ 1,605,366, 572 locations, $ 2,807 average, $ 113,525,126, 14 weeks.

15. “Lincoln,” Disney, $ 1,481,081, 875 locations, $ 1,693 average, $ 178,603,571, 16 weeks.

16. “Mama,” Universal, $ 1,173,900, 1,163 locations, $ 1,009 average, $ 70,230,570, six weeks.

17. “Quartet,” Weinstein Co., $ 1,125,886, 356 locations, $ 3,163 average, $ 8,844,950, seven weeks.

18. “Django Unchained,” Weinstein Co., $ 971,655, 659 locations, $ 1,474 average, $ 158,783,430, nine weeks.

19. “Amour,” Sony Pictures Classics, $ 716,186, 328 locations, $ 2,183 average, $ 5,147,242, 10 weeks.

20. “Wreck-It Ralph,” Disney, $ 645,870, 402 locations, $ 1,607 average, $ 186,676,411, 17 weeks.

___

Universal and Focus are owned by NBC Universal, a unit of Comcast Corp.; Sony, Columbia, Sony Screen Gems and Sony Pictures Classics are units of Sony Corp.; Paramount is owned by Viacom Inc.; Disney, Pixar and Marvel are owned by The Walt Disney Co.; Miramax is owned by Filmyard Holdings LLC; 20th Century Fox and Fox Searchlight are owned by News Corp.; Warner Bros. and New Line are units of Time Warner Inc.; MGM is owned by a group of former creditors including Highland Capital, Anchorage Advisors and Carl Icahn; Lionsgate is owned by Lions Gate Entertainment Corp.; IFC is owned by AMC Networks Inc.; Rogue is owned by Relativity Media LLC.

___

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http://www.hollywood.com

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Global Health: After Measles Success, Rwanda to Get Rubella Vaccine

Rwanda has been so successful at fighting measles that next month it will be the first country to get donor support to move to the next stage — fighting rubella too.

On March 11, it will hold a nationwide three-day vaccination campaign with a combined measles-rubella vaccine, hoping to reach nearly five million children up to age 14. It will then integrate the dual vaccine into its national health service.

Rwanda can do so “because they’ve done such a good job on measles,” said Christine McNab, a spokeswoman for the Measles and Rubella Initiative, which will provide the vaccine and help pay for the campaign.

Rubella, also called German measles, causes a rash that is very similar to the measles rash, making it hard for health workers to tell the difference.

Rubella is generally mild, even in children, but in pregnant women, it can kill the fetus or cause serious birth defects, including blindness, deafness, mental retardation and chronic heart damage.

Ms. McNab said that Rwanda had proved that it can suppress measles and identify rubella, and it would benefit from the newer, more expensive vaccine.

The dual vaccine costs twice as much — 52 cents a dose at Unicef prices, compared with 24 cents for measles alone. (The MMR vaccine that American children get, which also contains a vaccine against mumps, costs Unicef $1.)

More than 90 percent of Rwandan children now are vaccinated twice against measles, and cases have been near zero since 2007.

The tiny country, which was convulsed by Hutu-Tutsi genocide in 1994, is now leading the way in Africa in delivering medical care to its citizens, Ms. McNab said. Three years ago, it was the first African country to introduce shots against human papilloma virus, or HPV, which causes cervical cancer.

In wealthy countries, measles kills a small number of children — usually those whose parents decline vaccination. But in poor countries, measles is a major killer of malnourished infants. Around the world, the initiative estimates, about 158,000 children die of it each year, or about 430 a day.

Every year, an estimated 112,000 children, mostly in Africa, South Asia and the Pacific islands, are born with handicaps caused by their mothers’ rubella infection.

Thanks in part to the initiative — which until last year was known just as the Measles Initiative — measles deaths among children have declined 71 percent since 2000. The initiative is a partnership of many health agencies, vaccine companies, donors and others, but is led by the American Red Cross, the United Nations Foundation, the Centers for Disease Control and Prevention, Unicef and the World Health Organization.

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Lowe’s Fourth-Quarter Earnings Beat Expectations

Richard Drew/Associated Press

Robert Niblock, chief executive of Lowe’s, said consumer spending was increasing.

The results are a sign that people are beginning to feel better about spending money on their homes as the housing market slowly recovers.

Lowe’s chief executive, Robert A. Niblock, said the company was seeing a pickup in spending even in areas of the country hit hardest by the housing slump, like Florida, Arizona and California.

“Rising home values have given homeowners additional confidence in spending on their homes,” Mr. Niblock said in an interview.

Lowe’s net income fell 11 percent from the previous year’s quarter, which included an extra week of revenue. Its earnings forecast for the year was below expectations but its revenue projection beat the consensus.

Lowe’s has revamped its pricing structure, offering what it says are permanent low prices on many items across the store instead of fleeting discounts. It has also focused on hiring more workers and improving its inventory.

In a call with analysts, Lowe’s chief customer officer, Gregory M. Bridgeford, said the pricing strategy helped spur strong sales of cabinets and countertops, tools and outdoor power equipment.

Lowe’s reported net income totaled $288 million, or 26 cents per share, for the three months ended Feb. 1. That was down from $322 million, or 26 cents a share, a year earlier. Analysts expected 23 cents a share in the latest quarter, according to FactSet.

There were 11 percent fewer shares outstanding in the latest quarter than a year ago. An extra week in the quarter last year had increased year-earlier earnings by 5 cents a share.

Revenue fell 5 percent to $11.05 billion from $11.63 billion a year earlier. Analysts had expected sales of $10.85 billion. Revenue in stores open at least one year rose 1.9 percent. The measure is an important gauge of a retailer’s fiscal health because it excludes stores that open or close during the year.

Lowe’s, which operates 1,754 stores in the United States, Canada and Mexico, expects fiscal 2013 net income of $2.05 a share. Analysts expect $2.10 a share.

The company expects revenue to rise 4 percent, implying revenue of $52.54 billion. Analysts expect $51.69 billion.

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