Zynga Wants to Get into the Gambling Business












Zynga recently filed a preliminary application for a gambling license in Nevada. We’re not talking about gambling with Farmville credits, either. We’re talking cold hard cash.


RELATED: Irish Olympic Athlete Accused of Betting on an Opponent












Getting a gaming license is no easy task in Nevada. The paperwork that Zynga filed this week is just the beginning of a process that the company’s executives expect to take between a year and 18 months. During that time, the state will review Zynga’s financial records and decide whether or not its fit to hold a license. Even then, it’s unclear exactly what the world of real money online gambling will hold. Only this year did the Justice Department lift its ban on online gambling, and so far, Nevada is the first and only state to begin issuing licenses to companies offering online poker games. And even then, the license is only good inside the state of Nevada, where there’s more sand than people.


RELATED: It’s Official: The Maker of Farmville Is Worth $ 8.9 Billion


Zynga’s willing to take its chances. A lot could happen in the next year or so, and there’s been talk of some sort of agreement between states that would open up the market significantly. And new openings in the market is exactly what Zynga really wants. “As we’ve said previously, the broader U.S. market is an opportunity that’s further out on the horizon based on legislative developments, but we are preparing for a regulated market,” said Zynga Chief Revenue Officer Barry Cottle in a statement.


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This could be really good for Zynga. The five-year-old company has been on a bit of downward spiral, lately. With its earnings per user on a steady decline, Zynga’s stock price has plummeted by more than 75 percent, and a number of key executives have left this year. It’s hard to say exactly why people have cooled on Zynga’s games, most of which live in the Facebook ecosystem, but if the company didn’t do something soon, there was a chance that it could be in real trouble, real soon. And what’s the best way to get out of financial trouble? Gambling. At least if you’re on the right side of the table, it does.


Gaming News Headlines – Yahoo! News


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British News Media Agree to More Powerful Regulator





LONDON — The editors of Britain’s principal national newspapers met Wednesday under pressure from Prime Minister David Cameron and agreed to the establishment of an independent newspaper regulator with far greater powers than those available to the existing watchdog.




But the editors, meeting over breakfast at a London restaurant, steered a careful course, embracing most but not all of the measures recommended in a report last week by a high-ranking judge, Lord Justice Sir Brian Leveson. They rejected the judge’s most contentious proposal, for a new law that would put teeth into a state-sanctioned system of oversight.


That placed the editors broadly in line with the approach taken by Mr. Cameron, who has courted political opprobrium, particularly on the left, by saying that writing any part of a new regulatory system into law would risk eroding 300 years of press freedom in Britain. Reacting to the Leveson report last Thursday, the prime minister warned that once such a law existed, politicians would be tempted to broaden it, and start the country down the road to state control of the news media.


Lord Justice Leveson led a nine-month inquiry into a scandal surrounding abusive and illegal newspaper practices, including hacking into private computers and voice mail and bribing police officers and other public officials to obtain confidential information — practices that appeared to have been rife in some newsrooms.


The Leveson inquiry and the parallel investigations by the police have focused especially on two mass-circulation tabloids that anchored Rupert Murdoch’s newspaper empire in Britain, The Sun and The News of the World. The company shut down The News of the World in July 2011, at the height of the scandal.


In effect, some analysts said, the editors’ agreement reflects the price that Britain’s famously freewheeling newspapers are now paying for the tabloid papers’ excesses.


Though Britain has no formal equivalent of the First Amendment, its tabloid newspapers in particular have prided themselves on being the scourge of the establishment, of privilege and of claims to a right of privacy by celebrities and others in the news. That attitude could now be curbed, perhaps even radically, by a new regulatory body responding to the public outrage stirred by the recent scandals, these analysts said.


The newspaper The Guardian reported on its Web site on Wednesday that the editors — including representatives of the sensationalist “red top” tabloids like The Sun, the country’s most lucrative daily — had endorsed 40 of the 47 principal recommendations made in Lord Justice Leveson’s 2,000-page report.


They agreed to scrap the weak and widely discredited Press Complaints Commission, set up by newspaper barons 20 years ago, and replace it with a new body appointed from outside the newspaper industry and the government. It would have a much larger budget, a strong investigative staff, and the power to order errant newspapers to publish prominent apologies and pay fines up to £1 million, or $1.6 million, or 1 percent of a publication’s annual revenue, whichever is less. Effectively, subscribing to the new system would be compulsory, since failure to sign up would deny newspapers access to a new system for arbitrating libel suits that could be far cheaper than fighting suits in the courts.


“We endorsed virtually all the report, barring the clauses that dealt with statutory underpinning,” one of the editors who attended Wednesday’s meeting said. He spoke on the condition of anonymity, citing an agreement among the roughly 20 editors not to comment individually on the record while details of a new system are being worked out.


Newspapers represented at the meeting included broadsheets like The Guardian, The Observer, The Daily Telegraph, The Independent and two Murdoch-owned titles, The Times and The Sunday Times; two weekly journals, The Spectator and The Economist; and mass-market tabloids like The Daily Mirror, The Daily Express and Mr. Murdoch’s Sun, with readerships in the millions.


The editor who spoke said that the group voted clause by clause on the 47 Leveson recommendations in a 90-minute meeting marked by a sense of urgency because of the mounting political pressure for tougher measures to rein in the news media. “There was a feeling that if we were to avoid something nasty, we had to do something quickly,” he said.


On the political left and center-left, the Labour Party and the Liberal Democrats are pressing for a statute that would put the newspapers on notice that they would defy the new system at their peril. With his own Conservative Party deeply split on the issue, Mr. Cameron told the editors at a meeting on Tuesday that they should endorse the principles behind the Leveson proposals, and that if they did not, they would “get a statute,” an editor who was present said.


With the editors now in line, senior aides to Mr. Cameron have said they will try to defuse the situation with a more detailed blueprint for an oversight system that would be independent but not depend on statutory backing, perhaps with a senior judge to act as a referee on appointments to the new regulatory body and on contested findings.


The editors’ action put newspapers with a combined daily and weekend circulation of more than eight million copies — said to be read by more than one-third of Britain’s population of 62 million — on record in favor of substantially toughening the system of self-regulation by the newspapers that has been in place since 1953.


In its current form, set up in 1991 after an earlier threat of government regulation, a voluntary body passes judgment on accusations of wrongdoing by the newspapers that participate. But critics who testified before the Leveson inquiry, including victims of the tabloid excesses, said the commission has been too pliant, especially in dealing with rambunctious tabloids like The Sun, which have had little to fear from the commission’s reproaches.


This article has been revised to reflect the following correction:

Correction: December 6, 2012

An earlier version of this article referred incorrectly to the jurisdiction of a proposed independent regulator in Britain. The new regulator would be charged with oversight of newspapers, not of the broader news media.



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Frank Ocean, Taylor Swift Collect Grammy Nominations















12/06/2012 at 01:00 AM EST



How FUN!

The Grammys handed out their nominations Wednesday night at a concert in Nashville and there was a decidedly youthful feel: Taylor Swift earned a nod for record of the year and the band FUN joined Frank Ocean with the trifecta of album and record of the year and best new artist.

In the country categories, Blake Shelton is up against Carrie Underwood for best solo performance and Miranda Lambert was nominated for best album.

Here are some of the major nominations. For a complete list go to Grammy.com:

Album of the Year:
El Camino – The Black Keys
Some Nights– FUN.
Babel – Mumford & Sons
Channel Orange – Frank Ocean
Blunderbuss – Jack White

Record of the Year:
Lonely Boy – The Black Keys
Stronger (What Doesn't Kill You) – Kelly Clarkson
We Are Young – FUN. featuring Janelle Monáe
Somebody That I Used To Know – Gotye Featuring Kimbra
Thinkin Bout You – Frank Ocean
We Are Never Ever Getting Back Together – Taylor Swift

Best New Artist:
Alabama Shakes
FUN
Hunter Hayes
The Lumineers
Frank Ocean

Song Of The Year:
"The A Team" – Ed Sheeran, songwriter (Ed Sheeran)
"Adorn" – Miguel Pimentel, songwriter (Miguel)
"Call Me Maybe" – Tavish Crowe, Carly Rae Jepsen & Josh Ramsay, songwriters (Carly Rae Jepsen)
"Stronger (What Doesn't Kill You)" – Jörgen Elofsson, David Gamson, Greg Kurstin & Ali Tamposi, songwriters (Kelly Clarkson)
"We Are Young" – Jack Antonoff, Jeff Bhasker, Andrew Dost & Nate Ruess, songwriters (FUN. featuring Janelle Monáe)

Best Country Solo Performance:
"Home" – Dierks Bentley
"Springsteen" – Eric Church
"Cost Of Livin'" – Ronnie Dunn
"Wanted" – Hunter Hayes
"Over" – Blake Shelton
"Blown Away" – Carrie Underwood

Best Country Album:
Uncaged – Zac Brown Band
Hunter Hayes – Hunter Hayes
Living For A Song: A Tribute To Hank Cochran – Jamey Johnson
Four The Record– Miranda Lambert
The Time Jumpers – The Time Jumpers

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Celebrations planned as Wash. legalizes marijuana


SEATTLE (AP) — Legal marijuana possession becomes a reality under Washington state law on Thursday, and some people planned to celebrate the new law by breaking it.


Voters in Washington and Colorado last month made those the first states to decriminalize and regulate the recreational use of marijuana. Washington's law takes effect Thursday and allows adults to have up to an ounce of pot — but it bans public use of marijuana, which is punishable by a fine, just like drinking in public.


Nevertheless, some people planned to gather at 12:01 a.m. PST Thursday to smoke in public beneath Seattle's Space Needle. Others planned a midnight party outside the Seattle headquarters of Hempfest, the 21-year-old festival that attracts tens of thousands of pot fans every summer.


"This is a big day because all our lives we've been living under the iron curtain of prohibition," said Hempfest director Vivian McPeak. "The whole world sees that prohibition just took a body blow."


In another sweeping change for Washington, Gov. Chris Gregoire on Wednesday signed into law a measure that legalizes same-sex marriage. The state joins several others that allow gay and lesbian couples to wed.


That law also takes effect Thursday, when gay and lesbian couples can start picking up their wedding certificates and licenses at county auditors' offices. Those offices in King County, the state's largest and home to Seattle, and Thurston County, home to the state capital of Olympia, planned to open the earliest, at 12:01 a.m. Thursday, to start issuing marriage licenses. Because the state has a three-day waiting period, the earliest that weddings can take place is Sunday.


The Seattle Police Department provided this public marijuana use enforcement guidance to its officers via email Wednesday night: "Until further notice, officers shall not take any enforcement action — other than to issue a verbal warning — for a violation of Initiative 502."


Thanks to a 2003 law, marijuana enforcement remains the department's lowest priority. Even before I-502 passed on Nov. 6, police rarely busted people at Hempfest, despite widespread pot use, and the city attorney here doesn't prosecute people for having small amounts of marijuana.


Officers will be advising people to take their weed inside, police spokesman Jonah Spangenthal-Lee wrote on the SPD Blotter. "The police department believes that, under state law, you may responsibly get baked, order some pizzas and enjoy a 'Lord of the Rings' marathon in the privacy of your own home, if you want to."


Washington's new law decriminalizes possession of up to an ounce for those over 21, but for now selling marijuana remains illegal. I-502 gives the state a year to come up with a system of state-licensed growers, processors and retail stores, with the marijuana taxed 25 percent at each stage. Analysts have estimated that a legal pot market could bring Washington hundreds of millions of dollars a year in new tax revenue for schools, health care and basic government functions.


But marijuana remains illegal under federal law. That means federal agents can still arrest people for it, and it's banned from federal properties, including military bases and national parks.


The Justice Department has not said whether it will sue to try to block the regulatory schemes in Washington and Colorado from taking effect.


"The department's responsibility to enforce the Controlled Substances Act remains unchanged," said a statement issued Wednesday by the Seattle U.S. attorney's office. "Neither states nor the executive branch can nullify a statute passed by Congress" — a non-issue, since the measures passed in Washington and Colorado don't "nullify" federal law, which federal agents remain free to enforce.


The legal question is whether the establishment of a regulated marijuana market would "frustrate the purpose" of the federal pot prohibition, and many constitutional law scholars say it very likely would.


That leaves the political question of whether the administration wants to try to block the regulatory system, even though it would remain legal to possess up to an ounce of marijuana.


Colorado's measure, as far as decriminalizing possession goes, is set to take effect by Jan. 5. That state's regulatory scheme is due to be up and running by October 2013.


___(equals)


Johnson can be reached at https://twitter.com/GeneAPseattle


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Stock futures signal early gains

PARIS (Reuters) - Stock futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.1 percent, Dow Jones futures up 0.2 percent and Nasdaq 100 futures up 0.1 percent at 5:20 a.m. EDT.


* European stocks were up on Thursday morning, with a number of benchmark indexes hitting their highs for the year, boosted by hopes a U.S. budget deal will be reached before the year-end and that the worst of Europe's debt crisis might be over.


* Investors will keep a close eye on the European Central Bank on Thursday, which is expected to keep interest rates on hold but may offer clues on its policy path for next year with updated forecasts likely to present a grim outlook for the euro zone economy in 2013.


* Chevron Corp added $15 billion to the cost of the Gorgon liquefied natural gas (LNG) export complex, as the U.S. oil company's largest single development joins a growing list of Australian LNG projects to run over budget.


* U.S. securities regulators charged a Wells Fargo investment banker and nine others with fraud on Wednesday in connection with their alleged role in an insider-trading ring that earned more than $11 million by trading on tips about impending mergers.


* CME Group Inc , the biggest operator of U.S. futures exchanges, on Wednesday joined a number of companies moving 2013 dividend payouts to this month to shield shareholders from expected tax increases.


* Starbucks Corp plans to increase the number of its cafes in the Americas by more than 20 percent by opening more than 3,000 new shops there in the next five years as it looks to rely on tea and juice as much as coffee, it said on Wednesday.


* Apple Inc's rank in China's smartphone market, which is set to become the world's largest this year, fell to No.6 in the third quarter as it faces tougher competition from Chinese brands, research firm IDC said on Thursday.


* Research In Motion outlined a step-by-step program on Thursday to help its large base of enterprise clients transition across to its soon to be launched new BlackBerry 10 platform.


* U.S. tax preparer H&R Block Inc reported a lower quarterly loss, helped by higher savings from cost reduction measures aimed at narrowing its focus to its core tax business.


* On the macro front, investors awaited weekly jobless claims, due at 8:30 a.m. EDT. Economists in a Reuters survey forecast a total of 380,000 new filings compared with 393,000 in the prior week.


* A volatile trading session ended with U.S. stocks mostly higher on Wednesday, even as Apple, the most valuable company in the United States, suffered its worst day of losses in almost four years.


In a strange occurrence, Apple accounted for the entirety of the Nasdaq 100's <.ndx> fall of 1.1 percent, while the Dow industrials - which do not include Apple as a component - enjoyed the best day since November 28.


(Reporting by Blaise Robinson; Editing by Toby Chopra)



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Software guru McAfee says to seek asylum in Guatemala












GUATEMALA CITY (Reuters) – U.S. anti-virus software guru John McAfee, who is on the run from police in Belize seeking to question him in a murder probe, has crossed into Guatemala and said on Tuesday he will seek political asylum there.


McAfee has been in hiding for three weeks since police in Belize said they wanted to question him as “a person of interest” about the murder of fellow American Gregory Faull, with whom McAfee had quarreled.












McAfee smuggled himself and his girlfriend, Samantha, across the porous land border that Belize shares with Guatemala. He stayed at a hotel in a national park before heading for Guatemala City on Monday evening.


“I have no plans much for the future now. The reason I chose Guatemala is two-fold,” McAfee told Reuters by telephone from Guatemala’s Supreme Court, flanked by his lawyer, former attorney general and lawyer Telesforo Guerra.


“It is a country bordering Belize, it is a country that understands the corruption within Belize and most importantly, the former attorney general of the country is Samantha’s uncle and I knew that he would assist us with legal proceedings.”


McAfee has denied involvement in the murder and told Reuters on Monday he would not turn himself in. He posted repeatedly on his blog www.whoismcafee.com while on the run, describing how he would constantly change his disguise to elude capture.


On Tuesday, he appeared with his hair and goatee died black, and wearing a dark suit and tie – a far cry from the surfer-style blonde hair highlights, shorts and tribal-tattooed bare shoulders he sported in Belize.


“(Guerra) is now attempting to get political asylum for myself and for Sam. I don’t think there will be much of a problem. From here I can speak freely and safely,” McAfee said.


TECH GENIUS, “BONKERS”


McAfee says he believes authorities in Belize would kill him if he turned himself in for questioning. Belize’s prime minister has denied the claim and called the 67-year-old paranoid and “bonkers.”


On the Caribbean island of Ambergris Caye, where McAfee has lived for about four years, residents say he is eccentric, impulsive, erratic and at times unstable, with a penchant for guns and young women.


He would often be seen with armed bodyguards, pistols tucked into his belt, and McAfee’s neighbor had complained about the loud barking of dogs that guarded his exclusive beachside compound.


His run-in with authorities in Belize is a world away from a successful life in the United States, where he started McAfee Associates in 1989 and made millions of dollars developing the Internet anti-virus software that carries his name.


There was already a case against McAfee in Belize for possession of illegal firearms, and police had previously raided his property on suspicion he was running a lab to make illegal synthetic narcotics.


McAfee says he has been persecuted for refusing to donate money to politicians, that he loves Belize, and considers it his home.


Guatemala is a canny choice to seek refuge. It has long been embroiled in a territorial dispute with Belize. Guatemala claims the southern half of Belize and all of its islands, or cayes, rightfully belong to it. There is no extradition treaty between the two countries.


A Guatemalan government source said there was “no reason” to detain McAfee because there was no legal case against him pending in the country.


Harold Caballeros, Guatemala’s foreign minister, said his government was unaware of any arrest warrant and would study McAfee’s asylum request once presented, saying its success would “depend on the arguments.”


Guerra told Reuters McAfee would return to Belize once his situation in Guatemala was made legal, citing the fact he had crossed into the country illegally to avoid capture by police in Belize.


“He can go to the United States, there is no problem with that,” he added. “We have asked the U.S. embassy for support with our (asylum) request.”


He said the asylum request would be formally presented on Wednesday.


The U.S. Embassy in Guatemala City said in a statement McAfee would have to work within the country’s legal framework, but declined to elaborate. “The embassy does not comment on the actions of American citizens, due to privacy considerations.”


(Reporting by Simon Gardner and Gabriel Stargardter; Editing by Kieran Murray and Eric Walsh)


Internet News Headlines – Yahoo! News


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Law Students in Austria Challenge Facebook Privacy Policy





BERLIN — An Austrian student group said Tuesday that it planned to challenge Facebook’s privacy policies in Irish court, alleging that the social networking giant had failed, despite repeated requests and formal complaints made by its members, to adapt to the restrictions of European data protection law.







Herwig Prammer/Reuters

Max Schrems, a student at the University of Vienna, said Facebook’s privacy policies were too broad and violated European law.







The group, which calls itself Europe vs. Facebook, said it would begin collecting donations to challenge the policy in Ireland, where the company’s European business is incorporated. Max Schrems, an Austrian law student at the University of Vienna who organized the effort, said Facebook had no interest in adapting its service to meet stricter European privacy requirements.


“We have been pursing this for more than a year with Facebook, but the company has done only about 10 percent of what we had asked them to do,” said Mr. Schrems, 25. “Therefore, we are preparing to go to court.”


Facebook, in a statement, said its European privacy policy had been vetted and approved by Irish regulators and was in compliance with European law.


“The way Facebook Ireland handles personal data has been subject to thorough review by the Irish Data Protection Commissioner over the past year,” the company said. “Nonetheless, we have some vocal critics who will never be happy whatever we do and whatever the D.P.C. concludes.”


Mr. Schrems’s group, which he said was made up of about 10 students at the University of Vienna, filed 22 complaints in 2010 with the Office of the Data Protection Commissioner in Ireland, which regulates Facebook’s European business because it is incorporated there.


As a result of those complaints, the regulator conducted a public audit of Facebook’s privacy policies. In September it announced an agreement with the company that required, among other changes, that Facebook shorten the time it retained consumer data and refrain from building a photo archive on individuals without their prior consent.


But Mr. Schrems said in an interview that Facebook was still violating European law in many areas, including a requirement that Facebook provide users who request it with a full copy of all the data the company has collected on them. Mr. Schrems, a Facebook user since 2007, said he requested his own summary file from Facebook in 2010.


The company, whose global headquarters is in Menlo Park, California, responded by creating a self-service tool for users to extract the data, which Mr. Schrems said supplied him only with information going back to 2010. In addition, he alleged that Facebook’s privacy policy, which users are required to agree to before they can use the service, is too broad and violates European law.


“It is basically a collection of American legalese, which is intentionally vague and gives the company adequate leeway to do basically anything they want with your data,” Mr. Schrems said.


Thilo Weichert, the data protection supervisor for the German state of Schleswig-Holstein, which has also brought legal action against Facebook, said he supported the Austrian student group’s efforts.


“Facebook’s policy is much too vague and broad and does not conform with German or European law,” Mr. Weichert said in an interview. “We think that European privacy officials need to take common action on this.”


Mr. Weichert issued an administrative order in August 2011 that barred businesses in the state, which is located along Germany’s northern border with Denmark, from using Facebook’s social plug-ins like the Like button and Fan pages. The rationale for the order: Those applications collect information on users without their consent by inserting cookies, which track individual computers, through a user’s Web browser.


In November of last year, Mr. Weichert sued several local business organizations, including the state’s own Industrie- und Handelskammer, the equivalent of the local chamber of commerce, for creating their own fan pages on Facebook. The chamber and businesses that have not been identified have challenged that suit, which is pending in court in Kiel.


The privacy policies of Facebook, Google and some other U.S.-based Web companies have come under increasing criticism in Europe.


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The Voice Reveals Top Four Contestants















12/04/2012 at 09:35 PM EST



The Voice"'s top six contestants were under double pressure Monday night when they had to sing two songs each. But there was even more stress at Tuesday's elimination.

"It went as well as it could have gone," Team Blake's Terry McDermott said on Monday of his performances of "I Want to Know What Love Is" and Rod Stewart's "Stay with Me." "There was a lot of pressure stripping a song down, but it worked to my advantage."

"I felt good," said Team Cee Lo's Trevin Hunte, who performed "Walking on Sunshine" and Jennifer Hudson's "And I Am Telling You (I'm Not Going)." "I'm confident. I feel like I've really grown. I'm definitely happy with my performance. I just want to see how America votes."

His chance came Tuesday when he and McDermott stood alongside competitors Nicholas David (Team Cee Lo), Cassadee Pope (Team Blake), Melanie Martinez and Amanda Brown (both Team Adam) to hear host Carson Daly reveal the voting results. Keep reading to find out ...

America saved McDermott, Hunte and Pope, but Martinez said goodbye to the competition for good. "I love all of you who have supported me," she said to her fans. "I'm just so grateful for you."

Brown also met the same fate, making David the final member of the top four.

The semi-final show airs Monday at 8:00 p.m. on NBC.

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Study: Drug coverage to vary under health law


WASHINGTON (AP) — A new study says basic prescription drug coverage could vary dramatically from state to state under President Barack Obama's health care overhaul.


That's because states get to set benefits for private health plans that will be offered starting in 2014 through new insurance exchanges.


The study out Tuesday from the market analysis firm Avalere Health found that some states will require coverage of virtually all FDA-approved drugs, while others will only require coverage of about half of medications.


Consumers will still have access to essential medications, but some may not have as much choice.


Connecticut, Virginia and Arizona will be among the states with the most generous coverage, while California, Minnesota and North Carolina will be among states with the most limited.


___


Online:


Avalere Health: http://tinyurl.com/d3b3hfv


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Stock futures signal gains at open

PARIS (Reuters) - Stocks were indicated to open higher on Wednesday, with futures for the S&P 500 up 0.35 percent, Dow Jones up 0.43 percent and Nasdaq 100 up 0.41 percent at 4:55 a.m. EDT.


* European shares resumed a recent sharp rally on Wednesday after comments from China's new leader boosted global growth expectations.


* Chinese Communist Party chief Xi Jinping said the country will maintain its fine-tuning of economic policies in 2013 to ensure stable economic growth, sparking a sharp rally in Chinese shares with the Shanghai Composite Index <.ssec> surging 2.9 percent.


* Xi listed tax reform, urbanization and allowing the market to play a bigger role in setting resource prices as among his key priorities.


* On the domestic front, investors awaited ADP's November employment report, due at 8:15 a.m. EDT. Economists in a Reuters survey expect 125,000 jobs were created versus 158,000 in October. Other data on Wednesday include factory orders and ISM's November non-manufacturing index, both due at 11 a.m. EDT.


* Repsol filed a U.S. lawsuit to block Chevron Corp's deal with Argentina's YPF , ramping up the Spanish oil company's legal response to the loss of its assets in Argentina.


* Programmable chipmaker Altera Corp trimmed its fourth-quarter revenue expectation citing fewer orders for its older products, sending its shares down 2 percent after the bell.


* Aerovironment Inc posted a better-than-expected quarterly profit as its unmanned aircraft unit sold more fixed-price products, sending its shares up 9 percent after the bell.


* Pandora Media Inc


lowered its fourth-quarter guidance, blaming a pull-back by advertisers on concerns about the U.S. budget, but analysts suggested it was due more to increasing competition.

* The U.S. Senate on Tuesday voted 98-0 to approve a wide-ranging defense bill that authorizes $631.4 billion in funding for the U.S. military, the war in Afghanistan and nuclear weapons.


* Walt Disney gave a much needed boost to Netflix , becoming the first major Hollywood studio to use the video service to bypass premium channels like HBO that traditionally controlled the delivery of movies to TV subscribers.


* The U.S. securities regulator is investigating a $10 million stock sale in March by Steven Fishman, chief executive of close-out retailer Big Lots Inc who announced his retirement on Tuesday, the Wall Street Journal reported, citing a person familiar with the inquiry.


* U.S. stocks finished slightly lower in a quiet session on Tuesday as the back-and-forth wrangling over the "fiscal cliff" gave investors little reason to act.


* The Dow Jones industrial average <.dji> fell 13.82 points, or 0.11 percent, to 12,951.78 at the close. The Standard & Poor's 500 Index <.spx> dipped 2.41 points, or 0.17 percent, to 1,407.05. The Nasdaq Composite Index <.ixic> shed 5.51 points, or 0.18 percent, to close at 2,996.69.


(Reporting by Blaise Robinson; Editing by John Stonestreet)

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