Stock index futures signal mixed open

LONDON (Reuters) - Stock index futures pointed to a mixed Wall Street open on Wednesday, with futures for the S&P 500 and Nasdaq 100 indexes slipping 0.1 percent, while futures for the Dow Jones rose 0.1 percent by 0933 GMT.


U.S. durables goods and homes data due out at 1330 and 1500 GMT respectively should provide further clues on the health of the world's largest economy.


The Pentagon program chief for the F-35 warplane slammed its commercial partners Lockheed Martin and Pratt & Whitney on Wednesday, accusing them of trying to "squeeze every nickel" out of the U.S. government and failing to see the long-term benefits of the project.


Pratt & Whitney is 99 percent sure the fan blade problem that grounded the Pentagon's 51 new F-35 fighter jets was not caused by high-cycle fatigue, which could force a costly design change, according to two sources familiar with an investigation by the enginemaker.


Airbus parent EADS predicted higher profit this year on the heels of stronger than expected 2012 earnings and a clampdown on costs, with the development of its A350 jet remaining the biggest wild card in its bid to match rival Boeing .


Partner Communications , Israel's second-largest mobile phone operator, reported weaker-than-expected quarterly profit and said it could have weak earnings throughout 2013 due to fierce competition that has slashed calling rates.


The pan-European FTSEurofirst 300 index <.fteu3> was up 0.1 percent at 1,151.69 points by 1010 GMT on Wednesday while the euro zone's Euro STOXX 50 index <.stoxx50e> also advanced 0.1 percent, although concerns over Italy's political stalemate were likely to cap gains.


The Dow Jones industrial average <.dji> gained 115.96 points, or 0.84 percent, to 13,900.13 at the close on Tuesday. The Standard & Poor's 500 Index <.spx> rose 9.09 points, or 0.61 percent, to 1,496.94. The Nasdaq Composite Index <.ixic> advanced 13.40 points, or 0.43 percent, to close at 3,129.65.


(Reporting by Sudip Kar-Gupta; Editing by Susan Fenton)



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India Ink: Narmada Devi, the Housewife from Uttar Pradesh

Why do millions of people, from entire Indian villages to urbane middle managers to foreign tourists, brave the crowds at the Kumbh Mela? During this year’s 55-day pilgrimage, to Allahabad, Uttar Pradesh, an estimated 100 million Hindus and others are expected to take a holy dip in the Ganges River to wash away their sins. India Ink interviewed some of them.

Narmada Devi, 45, a housewife from Varanasi, Uttar Pradesh, was one among them. This is what she had to say.

Why did you come to the Kumbh Mela this year? Is it your first time?

This is my fifth time. I came with family. We had a tough year last year. We wonder if it is because of the sins we have committed. We came here to wash them away.

How have you found it so far?

I love the excitement here. I am also fortunate that I am here on Mauni Amavasya, one of the main royal bathing days. They say that if we manage to take a dip today, we would be internally cleansed.

Describe your journey to the Kumbh. Did you travel alone? How long did it take?

We traveled in a horrible bus from Benaras. It took us longer than it should have. I don’t know how much time we spent on that bus, but it was an awful journey. I threw up the whole time.

Do you consider yourself a religious person?

We are Hindus. We follow Hinduism and worship Hindu gods. We have a pandit, or priest, in our town who we believe in, and we do whatever he asks us to – with respect to our profession, our future, etc. Apart from that, I don’t know what you mean by being religious.

Who do you think is going to win the 2014 election?

We don’t care if it is the Bahujan Samaj Party or the Samajwadi Party. We just want good governance. I can’t tell you how much we have suffered because of bad administration. Higher crime rates, not enough good education for my sons and my husband’s shop was also looted. No authorities came to our rescue.

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The Bachelor's Sean Lowe Reveals Final Two






The Bachelor










02/25/2013 at 10:30 PM EST







From left: AshLee, Lindsay and Catherine


Kevin Foley/ABC(3)


And then there were two.

After three incredible dates in Thailand with the remaining women, The Bachelor's Sean Lowe faced a difficult decision at the end of Monday's episode: Would he send home AshLee, Catherine or Lindsay?

Keep reading to find out who got a rose – and who was left heartbroken ...

Sean said goodbye to early favorite AshLee in a surprising elimination that left her virtually speechless.

Visibly upset, AshLee left Sean's side without saying goodbye. She even asked him to not walk her to the waiting car that would take her away.

But Sean did get to explain. "I thought it was you from the very beginning," he said. "This was honestly the hardest decision I've ever had to make ... I think the world of you. I did not want to hurt you."

"This wasn't a silly game for me," AshLee said as the car drove away. "This wasn't about a joy ride. It wasn't about laughing and joking and having fun."

She added: "It's hard to say goodbye to Sean because I let him in ... It's the ultimate [rejection]."

Check back Tuesday morning for Sean Lowe's blog post to read all about his Thailand dates and why he chose to send AshLee home

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Koop, who transformed surgeon general post, dies


With his striking beard and starched uniform, former Surgeon General Dr. C. Everett Koop became one of the most recognizable figures of the Reagan era — and one of the most unexpectedly enduring.


His nomination in 1981 met a wall of opposition from women's groups and liberal politicians, who complained President Ronald Reagan selected Koop, a pediatric surgeon and evangelical Christian from Philadelphia, only because of his conservative views, especially his staunch opposition to abortion.


Soon, though, he was a hero to AIDS activists, who chanted "Koop, Koop" at his appearances but booed other officials. And when he left his post in 1989, he left behind a landscape where AIDS was a top research and educational priority, smoking was considered a public health hazard, and access to abortion remained largely intact.


Koop, who turned his once-obscure post into a bully pulpit for seven years during the Reagan and George H.W. Bush administrations and who surprised both ends of the political spectrum by setting aside his conservative personal views on issues such as homosexuality and abortion to keep his focus sharply medical, died Monday at his home in Hanover, N.H. He was 96.


An assistant at Koop's Dartmouth College institute, Susan Wills, confirmed his death but didn't disclose its cause.


Dr. Richard Carmona, who served as surgeon general a decade ago under President George W. Bush, said Koop was a mentor to him and preached the importance of staying true to the science even if it made politicians uncomfortable.


"He set the bar high for all who followed in his footsteps," Carmona said.


Although the surgeon general has no real authority to set government policy, Koop described himself as "the health conscience of the country" and said modestly just before leaving his post that "my only influence was through moral suasion."


A former pipe smoker, Koop carried out a crusade to end smoking in the United States; his goal had been to do so by 2000. He said cigarettes were as addictive as heroin and cocaine. And he shocked his conservative supporters when he endorsed condoms and sex education to stop the spread of AIDS.


Chris Collins, a vice president of amFAR, the Foundation for AIDS Research, said many people don't realize what an important role Koop played in the beginning of the AIDS epidemic.


"At the time, he really changed the national conversation, and he showed real courage in pursuing the duties of his job," Collins said.


Even after leaving office, Koop continued to promote public health causes, from preventing childhood accidents to better training for doctors.


"I will use the written word, the spoken word and whatever I can in the electronic media to deliver health messages to this country as long as people will listen," he promised.


In 1996, he rapped Republican presidential hopeful Bob Dole for suggesting that tobacco was not invariably addictive, saying Dole's comments "either exposed his abysmal lack of knowledge of nicotine addiction or his blind support of the tobacco industry."


Although Koop eventually won wide respect with his blend of old-fashioned values, pragmatism and empathy, his nomination met staunch opposition.


Foes noted that Koop traveled the country in 1979 and 1980 giving speeches that predicted a progression "from liberalized abortion to infanticide to passive euthanasia to active euthanasia, indeed to the very beginnings of the political climate that led to Auschwitz, Dachau and Belsen."


But Koop, a devout Presbyterian, was confirmed after he told a Senate panel he would not use the surgeon general's post to promote his religious ideology. He kept his word.


In 1986, he issued a frank report on AIDS, urging the use of condoms for "safe sex" and advocating sex education as early as third grade.


He also maneuvered around uncooperative Reagan administration officials in 1988 to send an educational AIDS pamphlet to more than 100 million U.S. households, the largest public health mailing ever.


Koop personally opposed homosexuality and believed sex should be saved for marriage. But he insisted that Americans, especially young people, must not die because they were deprived of explicit information about how HIV was transmitted.


Koop further angered conservatives by refusing to issue a report requested by the Reagan White House, saying he could not find enough scientific evidence to determine whether abortion has harmful psychological effects on women.


Koop maintained his personal opposition to abortion, however. After he left office, he told medical students it violated their Hippocratic oath. In 2009, he wrote to Senate Majority Leader Harry Reid, urging that health care legislation include a provision to ensure doctors and medical students would not be forced to perform abortions. The letter briefly set off a security scare because it was hand delivered.


Koop served as chairman of the National Safe Kids Campaign and as an adviser to President Bill Clinton's health care reform plan.


At a congressional hearing in 2007, Koop spoke about political pressure on the surgeon general post. He said Reagan was pressed to fire him every day, but Reagan would not interfere.


Koop, worried that medicine had lost old-fashioned caring and personal relationships between doctors and patients, opened his institute at Dartmouth to teach medical students basic values and ethics. He also was a part-owner of a short-lived venture, drkoop.com, to provide consumer health care information via the Internet.


Koop was born in the New York City borough of Brooklyn, the only son of a Manhattan banker and the nephew of a doctor. He said by age 5 he knew he wanted to be a surgeon and at age 13 he practiced his skills on neighborhood cats.


He attended Dartmouth, where he received the nickname Chick, short for "chicken Koop." It stuck for life.


Koop received his medical degree at Cornell Medical College, choosing pediatric surgery because so few surgeons practiced it.


In 1938, he married Elizabeth Flanagan, the daughter of a Connecticut doctor. They had four children, one of whom died in a mountain climbing accident when he was 20.


Koop was appointed surgeon-in-chief at Children's Hospital in Philadelphia and served as a professor at the University of Pennsylvania School of Medicine.


He pioneered surgery on newborns and successfully separated three sets of conjoined twins. He won national acclaim by reconstructing the chest of a baby born with the heart outside the body.


Although raised as a Baptist, he was drawn to a Presbyterian church near the hospital, where he developed an abiding faith. He began praying at the bedside of his young patients — ignoring the snickers of some of his colleagues.


Koop's wife died in 2007, and he married Cora Hogue in 2010.


He was by far the best-known surgeon general and for decades afterward was still a recognized personality.


"I was walking down the street with him one time" about five years ago, recalled Dr. George Wohlreich, director of the College of Physicians of Philadelphia, a medical society with which Koop had longstanding ties. "People were yelling out, 'There goes Dr. Koop!' You'd have thought he was a rock star."


___


Ring reported from Montpelier, Vt. Cass reported from Washington. AP Medical Writers Lauran Neergaard in Washington and Mike Stobbe in New York contributed to this report.


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Stock index futures point to small rebound

LONDON (Reuters) - U.S. stock index futures pointed to a slightly higher open on Wall Street on Tuesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 0.3-0.4 percent at 0916 GMT.


U.S. stocks had suffered their biggest drop since November on Monday after later results pointed to a strong showing in Italian elections by groups opposed to the country's economic reforms. That triggered worry that Europe's debt problems could once again destabilize the global economy.


European markets were playing catchup with that move in early trade on Tuesday, falling sharply as a result.


Standard & Poor's releases its S&P Case/Shiller Home Price Index for December at 1400 GMT, expected to show a rise of 0.5 percent versus a 0.6 percent rise in the previous month.


One hour later, the Conference Board's February consumer confidence was forecast to come in at 61.0 compared with 58.6 in January.


Also at 1500 GMT, new home sales data for January were seen at 381,000 annualized units, compared with 369,000 in December.


Ben Bernanke delivers the first of two days of congressional testimony on the Federal Reserve's semi-annual monetary policy report. Investors will examine Bernanke's words before the Senate Banking Committee closely for any sign he is growing nervous that the potential costs of the U.S. central bank's bond buying might soon outweigh its benefits.


Goldman Sachs Group Inc will begin its annual job cutting process as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading.


JPMorgan Chase chief executive Jamie Dimon leads his new team of managers in an annual day of presentations to Wall Street about the outlook for businesses operated by the biggest U.S. bank. The firm named a new head of auto finance on Monday.


Intel Corp has agreed to make chips on behalf of Altera ALTR.O, a significant step toward opening its prized manufacturing technology to customers on a larger scale, potentially including Apple .


Fuelled by a 48 percent rise in fourth-quarter earnings, the top executive of securities firm Stifel Financial Corp's defended his aggressive acquisition spree on Monday.


Retailer Home Depot is expected to post a $0.14 rise in quarterly earnings per share, seen at of $0.64, one day after rival Lowe's reported better-than-expected profit and boosted its outlook for revenue this year.


The Dow Jones industrial average <.dji> dropped 216.40 points, or 1.55 percent, to 13,784.17 on Monday. The Standard & Poor's 500 Index <.spx> lost 27.75 points, or 1.83 percent, to 1,487.85. The Nasdaq Composite Index <.ixic> fell 45.57 points, or 1.44 percent, to 3,116.25.


(Reporting by Francesco Canepa; editing by Patrick Graham)



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India Ink: ‘Life of Pi’ Shines at the Oscars

While no Indian film was up for nomination in the 85th annual Academy Awards, held Sunday night in Los Angeles, Taiwan-born Ang Lee’s win in the Best Director category for “Life of Pi’’ ensured a national connection to this year’s Oscars.

The movie, based on the 2001 novel by Yann Martel, is set in the mid-1970s in the town of Pondicherry (now Puducherry), a former French colony in India. Mr. Lee shot the film in Puducherry, as well as the hill station of Munnar in Kerala state and in Taiwan. The movie had a large Indian cast, including Suraj Sharma as the 16-year-old protagonist, Pi; Irrfan Khan as an adult Pi; Tabu as Pi’s mother; and Adil Hussain as his father. Younger versions of Pi were played by Gautam Belur and Ayush Tandon, while Pi’s older brother was played by Ayan Khan, Mohamed Abbas Khaleeli and Vibish Sivakumar. Shravanthi Sainath plays Pi’s teenage girlfriend. The film also stars GĂ©rard Depardieu. 

“Life of Pi” was the highest-grossing Hollywood film in India in 2012, pulling in $17 million, according to The Hollywood Reporter. Worldwide, it grossed more than $583 million at the box office as of February 24.

“Life of Pi” also won for Original Score. Michael Dynna accepted the award and thanked his Indian-born wife, Aparna, and their two boys. Aparna Dynna wore a blue-and-silver Indian lehenga, or skirt, blouse and  dupatta, or scarf, to the Oscars.

The movie also took home Oscars for both Cinematography and Visual Effects. Some of the visual effects for the film were done in Mumbai and Hyderabad, at the offices of Rhythm & Hues Studios, which is headquartered in California.

“Pi’s Lullaby,” sung by Jayashri Ramnath, a Carnatic music singer popularly known as Bombay Jayashree, was up for Best Song, but it lost to Adele Atkins for the James Bond theme song, “Skyfall.” Bombay Jayashree looked resplendent in a red silk sari and pearls on the red carpet.

Centered around the adventures of Pi, short for Piscine Molitor Patel, “Life of Pi” brings together fantasy and mysticism as an older Pi (Khan) recounts two alternate versions of his time on a boat with a tiger, named Richard Parker. The young Pi’s family owns a zoo in Pondicherry, but upon selling it to the local government, decides to migrate to Canada. The family and the animals from the zoo embark on their journey to Canada but meet with disaster on the ocean. The story is a retelling of that fateful journey, based on the older Pi’s recollections of what transpired. There is a strong spiritual undercurrent to the story, with the idea of God a central theme.

“Life of Pi” wasn’t immune to controversies, with Bombay Jayashri accused of borrowing from a well-known Malayalam lullaby in composing her song for the film. Ms. Jayashri has denied the allegations.

Although Mr. Khan and Ms. Tabu are well known in India, Mr. Sharma, who played the teenage Pi, had never acted before. Mr. Lee, in his acceptance speech at the Academy Awards, called him a “miracle,” before signing off in both Mandarin and Sanskrit: “Xie, xie” and “namaste.”

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Relive the Best One-Liners and Tweets from the Oscars!









02/25/2013 at 12:00 AM EST



Jennifer Lawrence tumbled – to a standing ovation. Ben Affleck tearfully won Best Picure for Argo. And you all loved – or loved to hate – Oscar host Seth MacFarlane.

Yep, the Oscars are over, but it doesn't mean we're done talking about it! You can relive the best of the night! Check out what celebs, readers (and you!) had to say about the musical numbers, speeches – and a certain reigning Sexiest Man Alive! – on Twitter last night.

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FDA approves new targeted breast cancer drug


WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.


The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.


Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.


"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."


Cobleigh helped conduct the key studies of the drug at the Chicago facility.


The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.


The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.


Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.


FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.


Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.


FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer


Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.


Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.


Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.


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Insurgents Launch 4 Attacks in Afghanistan







KABUL — Afghan intelligence agents on Sunday shot and killed a man in a sport utility vehicle that officials said had been packed with explosives, foiling what they described as an attempt to set off a massive explosion in a neighborhood of narrow streets lined with foreign embassies.




At about the same time, Taliban suicide attackers set off three separate car bombs in two provinces near the capital. But the bombs did minimal damage,  officials said, and the toll from the Sunday violence was low. In addition to the two attackers and the suspect, two security guards and a police officer were also killed and five other people wounded, including one attacker who managed to flee.


A spokesman for the Taliban, Zabiullah Mujahid, said the insurgents were behind the three successful bombings. But he disavowed knowledge of the attempt in Kabul, saying Taliban commanders in the city had no plans for an attack on Sunday.


While it is not unusual for the Taliban to deny having a hand in a failed attack, much about the attempted bombing Sunday remained murky, with officials hailing Afghan security forces for acting quickly but offering only the barest details about how the man identified as a bomber was spotted.


The police chief of Kabul, Gen. Mohammed Ayoub Salangi, said the suspect was in a Toyota sport utility vehicle and was trying to pass through a checkpoint when he was recognized by agents from the country’s intelligence service, the National Directorate of Security.


The man “was gunned down,” General Salangi said. The agents had to act quickly, he added, saying that there was no time to inspect the vehicle or question the suspect because that would have given him the chance to detonate the explosives.


General Salangi, who in an earlier statement said there were two men in the car, did not say how or why the agents recognized the man. But he added that the car bomb was quickly defused and carted away.


The bombing attempt, in the Wazir Akbar Khan neighborhood, led some embassies to did briefly lock down the streets on which they are located and on which they control security. The spot where the man was shot were was less than a mile from the United States Embassy and the headquarters of the American-led coalition, neither of which offered any comment.


Earlier in the day, in Jalalabad, a city in eastern Afghanistan, a single bomber in a Toyota Corolla directly targeted the Security Directorate, officials said, detonating his explosive-laden vehicle outside a building used by the intelligence agency. Two guards were killed and a third was wounded, said Hazrat Mohammad Mashraqiwal, a police spokesman in Jalalabad.


Later on Sunday, two people in another car laden with explosives tried to enter the district governor’s compound in Baraki Barak district of Logar Province, south of Kabul. But they were stopped by police officers guarding the compound, prompting one man to jump and make a run for it and the other to set off the car bomb, said Abdul Rahim Amin, the governor.


One police officer was wounded in the attack, along with the man who fled.


Earlier in Logar, around dawn, a minivan packed with explosives was set off at a police post near the provincial capital, Pul-e-Alam. One officer was killed and two others wounded, an official said.


Sharifullah Sahak contributed reporting.


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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.


Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.


Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.


"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.


Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.


But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.


National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.


"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


OPTIONS BULLS TARGET GAINS


The spending cuts, if they go ahead, could hit the defense industry particularly hard.


Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.


Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.


"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.


The stock ended up 0.6 percent at $88.12 on Friday.


If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.


General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.


EYES ON GDP DATA, APPLE


The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.


U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.


Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.


Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.


On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.


(Additional reporting by Doris Frankel; Editing by Kenneth Barry)



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