LG aims to raise smartphone sales by 52 percent






SEOUL, South Korea (AP) — LG Electronics Inc. is aiming to raise its smartphone sales by more than half this year as it makes a shift from basic phones to high-end devices after lagging competitors for several years.


The South Korean company aims to sell more than 40 million smartphones in 2013, it said in a statement on Monday. LG shipped 26.3 million smartphones in 2012, fewer than HTC Corp. and Research In Motion Ltd. which each shipped more than 32 million smartphones.






To meet the sales goal, LG will release handsets in all price ranges from high-tier to affordable models and go all out in both developed and emerging markets.


“We aim to improve profitability and also to become a top-tier smartphone brand,” Park Jong-seok, head of LG’s mobile phone business, told reporters at a mobile industry fair in Barcelona, according to the statement.


LG faces similar challenges to other second-tier smartphone vendors. They are squeezed by the two smartphone giants — Samsung Electronics Co. and Apple Inc. — that are dominating most of the profit in the smartphone industry and also by Chinese makers that are expanding in the smartphone markets of fast-growing emerging countries.


But LG hopes to make its Optimus brand stand out by drawing on technologies from other parts of the LG empire. The company is the largest shareholder in LG Display Co. and has collaborated with other LG affiliates on batteries and cameras.


LG was the world’s third-largest maker of cellphones in 2009 but was caught off guard by the popularity of smartphones. In the fourth quarter of 2012, LG sold fewer phones than Chinese rivals Huawei Technologies Ltd. and ZTE Corp., which are expanding shipments of their cheaper smartphones.


Its mobile communications division was profitable for the first time in three years last year as it moved its focus from basic phones to lucrative smartphones.


Wireless News Headlines – Yahoo! News





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India Ink: A Conversation With: Author and Mathematician Manil Suri

The Indian-American author Manil Suri made a splashy entry into the world of writing in 2001 with “The Death of Vishnu,” which became a best seller and was a finalist for the prestigious PEN/Faulkner award. “The Age of Shiva” followed seven years later. This month, the 53-year-old mathematics professor, who teaches at the University of Maryland, Baltimore County, released “The City of Devi,” the final part of a trilogy linked to Hindu gods.

The story is set in a fictional present-day Mumbai, which is in complete disarray because of the threat of a nuclear attack from Pakistan. Residents are leaving the city in droves and police officers are beating people suspected of being Muslims. In the middle of this chaos is Sarita, a recent statistics graduate on a hunt to find her husband, Karun, who disappeared from their apartment.

During her journey, she meets an enigmatic man named Jaz who, unbeknownst to her, is her husband’s former lover. The fast-paced novel cuts between Karun and Sarita’s past lives and the present.

Mr. Suri, who was raised in Mumbai, was in New York City recently to promote the book. He spoke with India Ink about his Kemps Corner upbringing, his slow writing process and his latest work.

What was the inspiration for “The City of Devi”?

It came from the idea of thinking about people who are desperate and willing to take risks to recover a love of theirs as the world might come to an end.

The novel has rich descriptions of the city. How much time did you spend there researching it?

Since I left Bombay, I go back once or twice a year for a few weeks. This book has been in the making for 12 years so I have researched a little bit on each trip.

Tell us about your Mumbai upbringing.

I grew up Kemps Corner and lived in an old crumbling building. I am an only child, and since we were a middle-class family, my parents and I rented one room in a four-bedroom flat which wasn’t so nice. The other three bedrooms were rented by Muslims, and we all shared a toilet and kitchen. I went to Campion school and was around a lot of rich kids so I used to spend a lot of time on my own studying, painting and writing.

You have significant gaps between your books – seven years from the first to the second, and five years for this one. Why did you wait so long between books?

Well, for starters, I am a slow writer. The first book took me five years to write, and the second book took seven years. It was difficult the second time because there was this expectation of following up from the first book, and the pressure was intense. This third book was most difficult in terms of getting the plot strands to behave. I literally drew diagrams plotting the characters and their paths, and I nearly gave up on it twice.

Being a math professor and writer seem like opposite fields. Did both always interest you?

I was always interested in both, but when I was growing up, I was pushed more toward sciences and math. I ended up going into math but used to write as a hobby.

Have you ever contemplated giving up your math career to be a full-time novelist?

I tussled with the idea after the first book and even took time off from teaching just to write but found it wasn’t a good choice for me. I didn’t like being alone all the time, and I missed the math — there was a muscle in the brain that wasn’t exercised enough just by writing.

Like the character Jaz in the book, you’re openly gay. Has that always been the case?

My coming out was around the early 1980s. I came to this country and wasn’t sure if I was or wasn’t but started exploring that side of me.

How did your family take it when you told them?

I came out to my mother first, and she took it fairly well. She has a master’s in psychology so she might have had inklings of it. She has since come and stayed with me and my partner and treats him like a son. She even calls him beta.

What’s your feeling on how the acceptance of homosexuality has evolved in India?

I can’t speak for the villages, but I think the environment has changed when it comes to English-speaking middle-class and upper middle-class people living in cities. I don’t think Mumbai was homophobic when I was growing up. I just think that homosexuality wasn’t talked about, which isn’t the case today.

I was just in India promoting this book, and when I went to Kolkata, I was told not to read out loud the homosexual scenes because it is such a conservative city, and, of course, that’s exactly what I did. No one fainted or walked out, so it turned out okay. I read the same scenes in every city I visited, and the audience was fine with it.

This book is part of a trilogy named after Hindu gods. Now that it’s done, what’s next for you?

My next challenge is to combine math and writing by writing a novel about math. I also have some guilt that I cheated Brahma out of his book by naming this one after the mother goddess so I might write a book named after him.

(The interview has been lightly edited and condensed.)


This post has been revised to reflect the following correction:

Correction: February 25, 2013

An earlier version of the post misstated that Malin Suri is a professor at the University of Maryland. He teaches at the University of Maryland, Baltimore County.

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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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Stock index futures point to flat to higher open

LONDON (Reuters) - Stock index futures pointed to a mixed open on Wall Street on Monday, with futures for the S&P 500 and Nasdaq 100 up 0.1 and 0.2 percent respectively by 0856 GMT, while those for Dow Jones were steady.


* The U.S. stock market closed higher on Friday, with the S&P 500 adding 13.18 points, or 0.88 percent, to 1,515.60 <.spx>, after comments from Fed officials allayed fears that the central bank would curtail stimulus measures.


* Prospects of continued stimulus also lifted Asian and European equity markets on Monday, with the EuroSTOXX 50 benchmark of euro zone blue chips up 0.7 percent <.stoxx50e>. However, uncertainty over the outcome of Italian elections, which close on Monday, kept a lid on the gains.


* With days left before $85 billion is slashed from U.S. government budgets, the White House on Sunday issued more dire warnings about the harm the cuts will do to Americans. But Republicans, who advocate budget cuts, said the warning was overplayed and called on President Barack Obama to apply what is known as the "sequester" in a more careful way, rather than slashing budgets across the board.


* A relatively light calendar features the Chicago Fed's national activity index for February at 1330 GMT, alongside earnings from Autodesk Inc and Lowe's Companies.


* Barnes & Noble Inc Chairman Leonard Riggio is considering a bid for the company's bookstore business, the Wall Street Journal reported on Sunday, citing people familiar with the situation.


* Disney's movie "Brave" won the Oscar on Sunday for Best Animated Feature.


* BlackRock Inc. , the world's largest money manager, has got approval from the U.S. securities regulator to list a copper-backed exchange-traded fund, potentially getting the jump on JPMorgan, whose listing of a similar product has been delayed by industry objections.


* Knight Capital Group , which recently agreed to be bought for $1.4 billion by Getco Holding Co, has struck a deal to sell its credit-brokerage unit to Stifel Financial Corp , according to a person familiar with the matter.


* Hewlett-Packard Chairman Ray Lane and fellow board members plan to meet with about 20 of the computer maker's big investors Monday in hopes of heading off a campaign to unseat Lane and two other directors, the Wall Street Journal reports.


* Office Depot Inc said late on Friday that following talks with the largest holder of its common stock, Starboard Value LP, it is extending the deadline for nominating candidates for its board at its annual meeting.


* Dick's Sporting Goods Inc shares could rise 23 percent within the next year if the largest publicly traded U.S. sporting goods retailer continues to boost profit at a mid-teens percentage rate, Barron's said.


(Reporting By Toni Vorobyova; Editing by Hugh Lawson)



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Samsung sets sights on iPad mini with new Galaxy Note 8.0 tablet






Samsung (005930) is finally gaining some momentum in the tablet market after a slow start with the original Galaxy Tab, which launched in late 2010. The South Korean consumer electronics giant now has a number of slates available in the 7- and 10-inch ranges, but Apple’s (AAPL) 8-inch iPad mini opened new doors for mid-size tablets following its release this past November. Samsung was already putting a mid-range tablet together when the iPad mini debuted last year, and now the company is finally ready to take the wraps off its latest Note series device: The Galaxy Note 8.0.


[More from BGR: BlackBerry 10 browser smokes iOS 6 and Windows Phone 8 in comparison test [video]]






With a footprint that measures 8.3 inches by 5.4 inches, the Galaxy Note 8.0 can be used comfortably with one hand but provides much more screen real estate than a 7-inch tablet. As this slate falls into Samsung’s Note lineup, it also includes an S Pen stylus and an updated suite of stylus-ready apps.


[More from BGR: The end of unlimited BBM could erode BlackBerry’s standing in emerging markets]


Samsung’s new 8-inch Note slides perfectly into the gap between the Galaxy Note II and the Galaxy Note 10.1. “It’s the best of both worlds,” Samsung Mobile’s director of product planning Shoneel Kolhatkar said during a briefing.


Key specs include an 8-inch 1280 x 800-pixel TFT display, a 1.6GHz quad-core processor, 2GB of RAM, 32GB or 64GB of internal storage, microSDXC support, a 4,600 mAh battery, Android 4.1.2 Jelly Bean and a sleek case that is 25% thinner that the Galaxy Note 10.1. The Note 8.0 also includes an integrated 3G antenna, but a Wi-Fi-only version will be available shortly after the 3G version launches.


While Samsung focused mainly on the consumer market with the first Galaxy Note tablet, The Note 8.0 is as much about enterprise as it is about consumers. ”The next big thing is being extended to business,” Samsung Electronics’ marketing boss Travis Merrill told reporters at a recent meeting in New York City. Great features like the ability to run multiple apps at once in different windows extends the slate’s utility in a business environment, and Samsung’s “SAFE” certification means the tablet is secure.


Other intriguing features include a new “Readers Mode,” which conserves battery, dims the screen and changes the tablet’s contrast settings to make it a great eReader, and a host of new second screen features that make the Note 8.0 a solid TV companion.


The Galaxy Note 8.0 will launch in a number of markets around the world including the United States beginning in the second quarter this year. Pricing has not yet been announced.


Samsung’s full press release follows below, and be sure to check out our hands-on impressions of Samsung’s new Galaxy Note 8.0 tablet.



INTRODUCING THE GALAXY NOTE 8.0,
A NEW ERA OF PORTABILITY AND EVERYDAY PRODUCTIVITY


SEOUL, Korea [February 24, 2011] – Samsung Electronics Co., Ltd, a global leader in digital media and digital convergence technologies, today announced the launch of the 8 inch tablet, the GALAXY Note 8.0; a new era of intelligent Note technology set to re-ignite the mid-size tablet category that Samsung established in 2010. Providing unrivalled multimedia performance within a compact one-hand-grip screen, the GALAXY Note 8.0 has the power and advanced technology to evolve the tablet experience and ensure you achieve new levels of efficient multi-tasking while benefitting from superb voice call functionality*. Furthermore, the intelligent S Pen brings together the latest innovation and the ease of using a traditional pen and paper; creating a sophisticated mobile experience that will enhance life on the go.


“Back in 2010 the launch of the first Samsung GALAXY Tab with 7 inch screen opened a new chapter in the mobile industry. Now almost three years later, Samsung continues to evolve the sector that meets the demands of modern life.” said JK Shin, President of the IT & Mobile Communications Division at Samsung Electronics.


“The GALAXY Note 8.0 breaths fresh life into the category as it delivers the perfect fusion of portability and everyday productivity – the result is a pioneering, pocket-sized solution that enhances and enriches our everyday lives, whether at work or play,” added Shin.


At the core of the GALAXY Note 8.0’s innovative solutions are beneficial functions, including multi-window options to split the portable 8inch screen and allow optimal access to a number of live applications; a new generation of Samsung’s intelligent S Pen with advanced usability; access to a suite of S Note templates and tools that allow you to create, edit, manage and share everyday documents; the Samsung “reading mode” technology to enjoy e books with optimized resolution, video and voice calls*. In addition, a suite of exciting new content and services are pre-loaded for users at no additional cost including, for the very first time on Samsung GALAXY tablet, the innovative Flipboard, and Awesome Note.


A smart diary for life on the go


Slim and compact enough to become the perfect on-the-go work and play companion, the GALAXY Note 8.0 brings powerful performance and functionality to support even the most demanding of lifestyles. Designed to store and manage your personal and professional data efficiently, the new era device gives users the perfect pocket-sized hands-on organizational tool. Practical S Note templates and S Planner feature help to manage everyday tasks, including meeting notes, to-do lists and even personal diary entries. All content can be entered and updated with the finest of detail thanks to the evolution of the intelligent Samsung S Pen. Enhanced precision is offered with Handwriting-to-Text conversion and advanced Productivity Tools that support formula and shape recognition are now available at the touch of your S Pen.


New content and services


GALAXY Note 8.0 is packed with pre-loaded content and apps specifically for the value maximizing, mass multimedia consumer. Upgraded Chat-On provides easy instant messaging and group chatting in multiple formats – images, video, voice, contacts – for simple, enjoyable communication. Awesome Note, an integrated application that is introduced in android tablet for the first time with NOTE 8.0, is capable of unlimited note-taking uses including Memo, Diary and Must-remember lists. With Flipboard, your news, social network and other feeds come together in one stylish, flippable format so you can enjoy all your news and life’s great moments in one place. Flipboard developed a customized version of its application exclusively for Samsung that allows users to take the S Pen’s hover feature and preview article headers beneath Flipboard’s main screen tiles. Finally, Smart Remote, gives you a universal remote control and electronic programming guide allowing you to manage TV and video watching seamlessly.


A new age of S Pen intelligence


Optimized to aid personalized creativity, the Samsung S Pen has evolved to increase everyday usability and enhance creation expression. Embedded within the tablet, the S Pen is an extension of the GALAXY Note 8.0. Removing the S Pen from the device will automatically launch innovative features such as Pen Detection that will suggest adapted menus that it thinks you’ll need and Page Buddy, a feature that will intuitively activate your most recently adapted S Note home screen.


S Pen technology is now so advanced that it doesn’t even have to touch the screen. With Air View, the S Pen needs only to hover over the screen to see previews of videos, emails, photos and appointments on SPlanner without opening the file or application in full. S Pen Gesture allows images and content to be easily edited and cropped, whilst Paper Artist and Photo Note allow photos to be artistically personalized.


In addition, for the very first time in GALAXY NOTE category, you can use S Pen to control the physical menu/back buttons on the device with WACOM technology.


Maximizing mass multimedia consumption


Creative multi-tasking with the GALAXY Note 8.0 is effortless due to innovative Dual View feature, two multi window options that seamlessly allow you to facilitate multi-screen usage. Dual View’s split screen accommodates optimal operation of different apps, such as launching the S Note on the web browser screen and allowing content to be resized, dragged and dropped as required.


Multi-tasking is extended to phone calls*. Pop Up Note allows you to access S Note at any time to keep track of key actions and Pop Up Video ensures you can keep surfing the web whilst chatting – content windows can be easily resized by pinching to enlarge or reduce.


Perfect info-tainment partner


Packed with features to engage, entertain and excite, the GALAXY Note 8.0 supports your practical everyday needs. Reading Mode transforms the GALAXY Note 8.0 into an e-Book reader, provides the optimal reading conditions to ensure you can curl up and enjoy a good book. You can even turn it into a universal remote control with Smart Remote, to seamlessly manage TVs, set-up boxes, DVD & Blu-ray players.



This article was originally published on BGR.com


Gadgets News Headlines – Yahoo! News





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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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See the Mini Balenciaga Bag Kim Kardashian Gifted Niece Penelope




Celebrity Baby Blog





02/22/2013 at 05:00 PM ET



Mom Kourtney Kardashian has one! Aunts Kim and Khloé own one too. And now Penelope Disick is the latest family member to add Balenciaga‘s chic city tote to her closet.


“Penelope is wearing the little Balenciaga bag that I got her for Christmas!” Kim posted on Instagram Friday, along with an adorable photo of the mom-to-be with her 7½-month-old niece and her mini yellow handbag.


Is Kim gearing up for her little one? If she has a little girl, we have no doubt her wardrobe will be the envy of the playground. Although the expectant reality star recently revealed that if it’s up to dad-to-be Kanye West, their baby will be wearing lots of “big chains and leather pants.”


And to be fair, Penelope wasn’t the only Kardashian-Jenner kid to receive luxe fashions for Christmas. Kylie and Kendall also scored during the holidays.


Kim Kardashian, Penelope Disick and Her Mini Balenciaga Bag
Courtesy Kim Kardashian; Inset: Rex USA



– Shanelle Rein-Olowokere


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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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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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