New rules aim to get rid of junk foods in schools

WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.

For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.

Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.

The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.

Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.

"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.

Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.

The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.

The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.

Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.

"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.

Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.

The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.

Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.

Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.

"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.

The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.

A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.

___

Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick

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"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.

That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.

Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.

Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.

"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."

The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.

Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.

Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .

But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.

Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.

During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.

MOM AND POP STILL WARY

Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.

This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.

Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.

"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.

Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.

He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.

Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.

On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.

Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.

Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.

Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.

(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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IHT Rendezvous: What's in a Name, Hurricane?

LONDON — Congratulations are in order for Blær Bjarkardóttir, the 15-year-old Icelandic girl who this week won the legal right to keep her given name in defiance of the despotic-sounding Icelandic Naming Committee.

Blær — its means “light breeze” in Icelandic — had sued authorities who refused to register her name because it was not on an approved list of 1,853 names that parents are allowed to give their female children.

The Reykjavík District Court found in her favor on Thursday, although it turned down her appeal for the equivalent of $4,000 in damages.

“I am very happy,” she said. “Finally, I’ll have the name ‘Blær’ in my passport.”

Iceland is among those states that keep a tight rein on naming conventions, in part to protect children from bearing a lifetime burden as the result of fanciful choices made in the first flush of parenthood.

How many Excels and Hurricanes are there who wish there had been an authoritarian Naming Committee around when they needed it?

In Germany, as in Iceland, unisex names are banned, while a first given name must not negatively affect the well-being of the child.

Danish parents can pick from an approved list of 7,000 male and female names, and any unusual choice is likely to be rejected. That has mercifully spared intended victims from ending up as Pluto and Monkey, according to David K. Israel at the Mental Floss website.

A Swedish couple once attempted to strike a blow for parents’ rights by naming their son Brfxxccxxmnpcccclllmmnprxvclmnckssqlbb11116 (pronounced “Albin”). Their appeal to the law was rejected and instead they received a $750 fine for not registering the boy before his fifth birthday.

“What’s in a name?” as Shakespeare’s Juliet asked. “That which we call a rose/By any other name would smell as sweet.”

Maybe. But would she have felt the same if her parents had called her Moxie CrimeFighter, like the daughter of Penn Jillette, the American magician?

Celebrity children appear to be particularly vulnerable. Bob Geldof, the Irish music star, charity fundraiser and father of four daughters, has a Peaches, a Pixie, a Fifi Trixibelle and a Heavenly Hiraani Tiger Lily Hutchence.

Parents in the United States are allowed to name their children pretty much what they like.

However, as Lisa Belkin wrote at the Motherlode parenting blog last year, Child Protective Services were called in when a couple in Easton, Pennsylvania, ordered a birthday cake for their little Adolf Hitler Campbell, brother of JoyceLynn Aryan Nation Campbell and Honszlynn Himmler Jeannie Campbell.

Annual lists of favorite names indicate most parents remain conservative in their choices. Lisa Belkin wrote that Emma, Isabella and Emily, and Jacob, Michael and Ethan, topped the U.S. list in 2011.

If you’re about to choose a name for your newborn, keep in mind a handy rule of thumb for naming cats: Never pick a name that you would be embarrassed to yell out of the window at midnight.

Let us know what you think: Should the state have a right to veto what a parent names a child? Is the banning of outlandish names an act of mercy? And if you have an unusual given name, is it a burden or a benefit?

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3 Things That Still Worry Me About BlackBerry

BlackBerry put on a pretty good show on Wednesday when it revealed the Z10 and the Q10, its first new smartphones in a year and a half. The demos were crisp, and the new BlackBerry 10 software looked clever. At the very least, it seems that BlackBerry has finally joined the modern smartphone era.

But despite my interest in BlackBerry’s new phones, I’m still worried about the future of the platform, and not merely because it’s been off the radar for a while. Looking at what BlackBerry did and didn’t announce, and what reviewers are saying about the product, gives me a few big reasons for concern:

Apps, Both Present and Future

BlackBerry deserves credit for having lots of apps out of the gate–more than 70,000, the company says–including some important ones like Twitter, Facebook, Angry Birds and The New York Times. Still, there are some big names missing from the list, including Netflix, YouTube, Spotify and Instagram. You can’t expect a new platform to have everything right away, though, so I don’t want to judge BlackBerry’s current app count too harshly.

It’s the future that I’m really worried about. What happens when the next Instagram comes out, and becomes a sensation on the iPhone and Android? Will BlackBerry be like Windows Phone–that is, just an afterthought in the minds of up-and-coming app developers? The good news is that Android apps are relatively easy to port to BlackBerry 10 (in fact, roughly 40 percent of those 70,000 launch apps are simple ports, ReadWrite notes), so RIM just has to convince developers to make a relatively small effort. We’ll see if they do.

Never Neglect Maps

The consensus among BlackBerry Z10 reviews is that its Maps app is subpar. The Verge complained about inaccurate data, and said the software couldn’t reliably find local businesses. CNet bemoaned a lack of features, such as walking directions, transit maps and street views. Apparently the software doesn’t even let you jump into the Maps app by tapping on an address or map in the web browser. That’s just basic stuff. At least the Maps app includes voice-guided turn-by-turn directions.

In any case, having a good mapping service isn’t just about telling you where to go. It’s about using your location to deliver useful information. Google Now, for instance, can warn you about traffic before your commute home, and Apple‘s Passbook can call up a boarding pass when you get to the airport. These days, a really good standalone Maps app is only part of the equation, and BlackBerry doesn’t even have that yet.

Voice Commands and Virtual Assistants

BlackBerry has added voice commands in its new phones, but the list of supported actions is paltry compared to what Android and the iPhone offer. You can’t ask for movie times, the weather forecast, directions, or things to do. You can’t tell the phone to start playing music, answer a trivia question, calculate numbers or set reminders.

You may argue that it doesn’t matter, that most people don’t rely too heavily on voice commands to begin with. I think that will change as these virtual assistants become faster and support more types of queries. They’ll also become more useful in automobiles–in fact, some car makers are now starting to integrate Siri–and they may some day play a big role in wearable computing, allowing you to communicate by voice when your phone is just out of reach. It’s still early days for this kind of technology, but Apple and Google already have a huge head start. BlackBerry, by comparison, is just getting started.

I’m not saying the new BlackBerry phones are no good, or that no one should use them. Like I said before, the software has some clever ideas, such as the Hub that combines all communications into one area, and the Balance feature that acts as a separate login for business use. But the smartphone industry moves quickly, and BlackBerry’s period of rebuilding has taken its toll in a few key areas. As with before, it’s going to be hard for the company to catch up.

MORE: Check out a video about the new hardware and features

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Drew Barrymore Wears Sweatpants She Finds on the Floor

Stylewatch
Style News Now

01/31/2013 at 09:00 AM ET

Daniel Jackson for Harper’s BAZAAR

If you take away the fact that she’s a multi-talented movie star, producer, former CoverGirl and current cosmetics mogul who got married in Chanel, we really have a ton in common with Drew Barrymore.

For instance, we share the same life motto. “I live for makeup and I like wine. These are my truths!” she says in the March issue of Harper’s Bazaar of the decision to start Flower Cosmetics and Barrymore Wines while pregnant with daughter Olive.

More revelations that we’re totally on board with? “I wear sweatpants than I find on the floor” (on why she didn’t want to start a fashion line, like many celebs) and “It’s my crusade to help women feel good about themselves” — something that we at PEOPLE StyleWatch fully relate to.

It’s to fulfill that mission that she started Flower in the first place, and why she’s been so involved in everything from the formula to the packaging: “It’s about … a girl watching her mom at a vanity table,” she says. “I wanted warmth and acceptance and self-love.” And if she achieves that with Flower while wearing homemade tie-dye yoga pants (you’ve got to read it to believe it), well, we’ll love her even more.

To read more on Drew Barrymore’s next big steps, click here and pick up the biggest-ever March issue of Harper’s Bazaar, on stands Feb. 12.

–Alex Apatoff

PHOTO: SHOP STAR LOOKS — FOR LESS!

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Hedgehog Alert! Prickly pets can carry salmonella

NEW YORK (AP) — Add those cute little hedgehogs to the list of pets that can make you sick.

In the last year, 20 people were infected by a rare but dangerous form of salmonella bacteria, and one person died in January. The illnesses were linked to contact with hedgehogs kept as pets, according to a report released Thursday by the Centers for Disease Control and Prevention.

Health officials on Thursday say such cases seem to be increasing.

The CDC recommends thoroughly washing your hands after handling hedgehogs and cleaning pet cages and other equipment outside.

Other pets that carry the salmonella bug are frogs, toads, turtles, snakes, lizards, chicks and ducklings.

Seven of the hedgehog illnesses were in Washington state, including the death — an elderly man from Spokane County who died in January. The other cases were in Alabama, Illinois, Indiana, Michigan, Minnesota, Ohio and Oregon.

In years past, only one or two illnesses from this salmonella strain have been reported annually, but the numbers rose to 14 in 2011, 18 last year, and two so far this year.

Children younger than five and the elderly are considered at highest risk for severe illness, CDC officials said.

Hedgehogs are small, insect-eating mammals with a coat of stiff quills. In nature, they sometimes live under hedges and defend themselves by rolling up into a spiky ball.

The critters linked to recent illnesses were purchased from various breeders, many of them licensed by the U.S. Department of Agriculture, CDC officials said. Hedgehogs are native to Western Europe, New Zealand and some other parts of the world, but are bred in the United States.

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Online:

CDC report: http://www.cdc.gov/mmwr

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Global shares gain, dollar dips as growth outlook brightens

LONDON (Reuters) - The dollar fell and world stocks gained on Friday as fresh economic data signaled that the euro zone's downturn has eased and China's growth was on track, but moves were limited as investors await a U.S. jobs report.

American employers are expected to have added 160,000 new jobs to their payrolls in January, a marginal rise on December's 155,000 gain, and a stronger number could knock the safe-haven dollar further as it would signal a strengthening recovery.

U.S. stock index futures pointed to a higher open on Wall Street on Friday <.n>, reflecting the hopes for jobs growth, while the dollar languished at a 3-1/2 month low against a basket of currencies <.dxy>.

MSCI's world equity index <.miwd00000pus> added 0.5 percent to stay close to its best level since May 2011.

Earlier, shares moved higher across Europe when euro zone factories recorded their best month in nearly a year during January although remaining mired in recession, according to the Markit Purchasing Managers' Index (PMI).

"Providing there are no further setbacks to the region's debt crisis, these data add to the expectation that the euro zone is on course to return to growth by mid-2013," said Chris Williamson, chief economist at data compiler Markit.

The euro hit a high of $1.3657 after the data came out, its highest level since November 2011, before settling to show a gain of 0.5 percent at $1.3643.

The common currency also hit a 33-month high against the yen, rising more than 1 percent to 125.96 yen.

The pan-European FTSEurofirst 300 index <.fteu3> extended its recent gains by 0.2 percent to 1,166.67 points, near a 23-month high after solid rally since the start of the year. London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were up between 0.5 and 0.8 percent.

Earlier, China's official PMI for January eased to 50.4, but held above the 50 mark which separates expansion from contraction, while a separate private survey showed growth in the manufacturing sector had hit a two-year high, underlining hopes the nation's economic recovery is slowly gaining momentum.

The mixed reading left MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> little changed.

A report from the Institute for Supply Management, due out at 10 a.m. ET, is likely to show that American factories joined in the modest global expansion in January.

EURO STRENGTH

Both the euro and European stocks trimmed some of their gains when the European Central Bank said the region's banks would return only 3.5 billion euros ($4.75 billion) of its emergency 3-year loans in a second repayment window next week.

The banks, which borrowed over one trillion euros of the cheap money at the height of the euro zone crisis, have another two years to pay it back if they want but took the opportunity this week to return a surprisingly large amount of the loans.

The quicker-than-expected repayments have triggered a rise in money market interest rates , effectively tightening monetary conditions, and rates could keep climbing if the money continues to drain from the system.

For Europe's struggling countries and the ECB this is not an ideal situation, effectively tightening monetary policy and creating unwanted stress just as economies are showing fragile signs of improvement.

It also comes as the Federal Reserve is undertaking a massive monetary stimulus in the United States and the Bank of Japan has come under strong pressure from the new government in Tokyo to add liquidity to boost its economy.

"The perception is that the ECB is being less supportive and is not providing as much liquidity as the other central banks are," said Andrew Milligan, head of Global Strategy at Standard Life Investments.

The approach of the U.S. jobs report was limiting moves in commodity markets which were generally supported by the rising confidence in the outlook for global growth.

Gold was up 0.2 percent at $1,665.91 an ounce, silver was up 0.1 percent at $31.43 an ounce and three month copper on the London Metal Exchange rose to $8,199 a tonne, up 0.4 percent.

Iron ore, which is particularly sensitive to economic growth, climbed to its highest level in more than two weeks to around $152.50 a tonne <.io62-cni> .

"The impression is that things are improving slowly on the macroeconomic front. The data seems to be moving in the right direction and we have had more positive surprises than negative surprises," said Robin Bhar, a metals analyst at Societe Generale.

In the oil market the rising economic optimism coupled with tension across the Middle East, the world's biggest oil producing region, has put Brent crude on track to its biggest weekly gain in two months, while U.S. crude is set to rise for an eighth straight week.

Brent oil was up 33 cents to $115.88, although U.S. crude futures slipped 27 cents to $97.22 a barrel.

(Additional reporting by Marc Jones,; editing by David Stamp)

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U.N. Panel Says Israeli Settlement Policy Violates Law

GENEVA — Israel has used the expansion of Jewish settlements to pursue a creeping annexation of the occupied Palestinian territories and committed multiple violations of international law in its treatment of Palestinians, the United Nations Human Rights Council said in a report on Thursday that called for an immediate halt to all settlement activity.

Presenting its findings after a nearly six-month investigation, the panel of three women jurists led by a French judge, Christine Chanet, said Israel’s settlements had clearly violated the Geneva Conventions which prohibit a state from transferring its own civilian population into territory it has occupied.

Israel “must cease all settlement activities without preconditions” and begin the withdrawal of all settlers from the occupied territories, the jurists said their report, which is to be debated at the Human Rights Council in March.

The panel examined 67 submissions from academics, diplomats, Israeli civil society and Palestinians, Ms. Chanet said, but Israel refused to cooperate with the mission which was unable to visit the West Bank and instead went to the Jordanian capital, Amman, to hear testimony.

The Human Rights Council voted a year ago to investigate the impact of settlements on Palestinian rights, which prompted Israel to break off cooperation and castigate the panel as a political platform used “to bash and demonize Israel.” The report came two days after Israel boycotted the council’s review of Israel’s human rights record, becoming the first country to withhold cooperation from a process in which all 193 United Nations member states have previously engaged.

The United States also opposed creating the fact-finding mission on the grounds that “it does not advance the cause of peace and will distract the parties from efforts to resolve the issues that divide them.”

Washington has opposed Israel’s creation of further settlements and construction in East Jerusalem as “unhelpful” and an obstacle to a two-state solution of the Palestinian issue.

Reviewing Israel’s settlements policy since 1967, the panel said that Israel, with the full knowledge and compliance of successive governments, had established some 250 settlements in the West Bank and East Jerusalem since 1967 which now have an estimated 520,000 settlers and are growing much faster than the population of Israel. The result is “a mesh of construction and infrastructure leading to a creeping annexation that prevents the establishment of a contiguous and viable Palestinian state and undermines the right of the Palestinian people to self-determination,” the report said.

These actions fall under the jurisdiction of the International Criminal Court, the panel said, and if Palestine ratified the Rome Statute that created the court, Israel could be called to account for “gross violations of human rights law and serious violations of international humanitarian law,” the report said.

The settlements are maintained through “a system of total segregation” between the settlers, who enjoy a preferential legal status, and the rest of the population, the report said. It found Palestinian rights to freedom of movement, equality, due process of law and access to education, water, housing and natural resources “are being violated consistently and on a daily basis.”

The panel reported that violence and intimidation by “a small minority” of settlers continued with impunity and expressed grave concern at the high number of children who are detained. They were “invariably mistreated, denied due process and fair trial,” the report said and many were transferred to detention centers in Israel, also a violation of international law.

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Facebook slumps as mobile ad growth fails to impress

(Reuters) – Shares of Facebook Inc were set to open 7 percent lower on Thursday as a surge in fourth-quarter mobile advertising revenue failed to live up to Wall Street’s high expectations.

Three brokerages downgraded the stock of the No. 1 social network, which has struggled to develop a full-fledged mobile advertising business.

Facebook has long established itself as one of the most important websites, but investors have worried that until the company’s mobile advertising strategy takes off, revenue growth will remain shaky.

The company reported a better-than-expected fourth-quarter profit on Wednesday and said its mobile advertising revenue doubled to $ 306 million, suggesting it was making inroads into handheld devices such as smartphones and tablets.

Investors were looking for at least $ 350 million in mobile advertising revenue, Piper Jaffray analyst Gene Munster said in a note to clients.

“While the trajectory of mobile growth may not be as steep as some investors were hoping, the theme of mobile as the future of Facebook remains intact,” he said.

BMO Capital Markets analyst Daniel Salmon, who downgraded the stock to “market perform” from “outperform”, however said Facebook’s 2013 stock performance would not be dictated by its ability to generate mobile ad dollars.

He said new catalysts were necessary to drive Facebook’s stock price up.

Facebook’s stock, which has lost over a quarter of its value since its botched debut in May, were down at $ 29.08 in premarket trading. The shares closed at $ 31.24 on the Nasdaq on Wednesday.

(Reporting by Neha Alawadhi in Bangalore; Editing by Saumyadeb Chakrabarty)

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Kendra Wilkinson Fondly Remembers Hugh Hefner's Late Secretary

By Tim Nudd

01/31/2013 at 08:30 AM EST

Kendra Wilkinson and (inset) Mary O'Connor

Jason LaVeris/FilmMagic; Inset: Elayne Lodge

A friend, a confidante, a shoulder to cry on. Someone who brought a welcome dose of levity when things got heavy.

Mary O'Connor was many things to Kendra Wilkinson.

Now, the former star of The Girls Next Door has written down her fond memories of Playboy founder Hugh Hefner's longtime secretary – who died last weekend – in a heartfelt post on her website.

"I'm devastated to hear about the passing of Mary O'Connor," she writes. "She was almost like a therapist because we could talk to her about anything. When I lived at the mansion I was very close with her. Over the years, she helped me through a lot and was always there for me."

Wilkinson, 27, was particularly touched when O'Connor invited her along to her favorite place far from Los Angeles – Branson, Mo. "I felt so special that she invited me to her getaway with her and it was so nice to see where she went away to," Wilkinson says.

One of Wilkinson's favorite memories shows O'Connor's fun-loving side. "She showed up at my bridal shower wearing a shower cap, while all of my friends were in risqué outfits," Wilkinson recalls. "She also held my baby shower for [now 3-year-old son] Lil' Hank which is something I will always be thankful for."

Wilkinson adds: "She was a wonderful person and I wouldn't be the person I am without her."

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