‘The Hunger Games’ Star Jennifer Lawrence Channels Katniss Everdeen On Red Carpet [PHOTOS]

New Harry Potter movie leaked to the web ahead of release

The first 36 minutes of Harry Potter and the Deathly Hallows – Part 1, produced by Warner Bros, was on Tuesday leaked to the Internet ahead of the movie’s release this Friday.

The movie’s eye-popping numbers were talked about even as it turned up on a file-sharing network BitTorrent ahead of the film’s world-wide premiere.

Meanwhile, Warner Bros studio on Wednesday said it is working to remove the Internet leak of the movie.

In a statement, Warner Bros said the excerpt was stolen and illegally posted on the Internet constituting a serious breach of copyright violation and theft of its property.

We are working actively to restrict and/or remove copies that may be available. Also, we are vigorously investigating this matter and will prosecute those involved to the full extent of the law, said the Time Warner Inc studio.

According to a post linking to its file on Torrent index and magnet link provider, Pirate Bay, wrote in a post that the footage came from a screener of the movie. Burned DVDs sent out by a studio for publicity purposes with portions of a movie. But, a Warner Bros spokesman said the footage could not have come from a screener as it had not created screeners of its new Harry Potter movie.

The studio is investigating the leak but has not yet determined the source, the spokesman said.

The new Harry Potter film is expected to gross more than $100 million in the US and Canada over its first three days in theatres, starting on November 19. Industry watchers are predicting a full run of more than $1 billion in global ticket sales.

The first six Harry Potter movies, which are based on the best-selling books about a British boy wizard by author J.K. Rowling, have earned $5.42 billion at world-wide box offices, according to California-based BoxOfficeMojo.com.

Online US movie ticket seller Fandango said more than 2,200 showtime for Harry Potter and the Deathly Hallows: Part 1 had sold out ahead of the film’s Friday opening, Reuters reported.

On MovieTickets.com, the new Harry Potter movie was the no.5 bestseller of all time for advance ticket sales just behind Harry Potter and the Half-Blood Prince.

The seventh and penultimate movie about the adventures Harry and his Hogwarts School friends will get its largest-ever opening on Imax screens. Imax said Deathly Hallows would hit 239 of its screens in North America, and 117 screens internationally.

The final book in the series is split into two films. The film franchise ends its run in July 2011 with Deathly Hallows: Part Two, which will be in 3D, media reports said.

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Goldman Sachs earnings beat market expectations

On Monday Goldman Sachs showed yet another sign proving the recovery of banks after it beat Wall Street expectations with its $1.66 billion profit for the first quarter of 2009.

Together with the profit announcement, the bank also said it planned to raise $5 billion in stock to help it pay back government bailout funds.

The New York-based bank said it earned $3.39 per share, easily surpassing analysts' forecasts for profit of $1.64 per share. This compares with earnings of $1.47 billion, or $3.23 per share, in the quarter ended Feb. 29 of last year, and is a huge improvement over the $2.29 billion Goldman lost in the fourth quarter.

Goldman's news, released a day earlier than anticipated, came days after another top-performing bank, Wells Fargo & Co., said it expected to report record first-quarter earnings of $3 billion, well above Wall Street's estimates.

Other big national banking groups; Citigroup and Bank of America Corp. are yet to report their first quarter results.

Despite the favorable results reported, it however remains too soon to conclude that banking industry is indeed finally recovering from the devastating losses caused by the credit crisis and the recession.

Investors showed some caution after Goldman's announcement, which followed the close of regular trading on Wall Street. Goldman shares initially rose in response to its report but then slipped 1.5 percent.

Citigroup, which surged 25 percent during regular trading, rose a more modest 1 percent in after-hours activity while Bank of America rose 0.7 percent after jumping 15 percent during regular trading. Morgan Stanley fell 3.3 percent in late trading after jumping 6 percent during regular hours.

ISE FX Canadian Dollar* ST: rebound in sight.

Update on supports and resistances.

Resistance3 : 130
Resistance2 : 126.75
Resistance1 : 124.5
Last Price : 121.75
Pivot Point: 117.6
Support1 : 117.6
Support2 : 114.65
Support3 : 108.7

Pivot: 117.6

Our preference: Long positions above 117.6 with targets @ 124.5 & 126.75 in extension.

Alternative scenario: Below 117.6 look for further downside with 114.65 & 108.7 as targets.

Comment: the RSI has just landed on a support around 30% and is reversing up.

130
126.75
124.5
121.75 (last)
117.6
114.65
108.7



*USD/CAD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the CANADIAN DOLLAR. For details go to www.ise.com

J&J shares jump after profit beats forecast

Johnson & Johnson on Tuesday said its quarterly earnings fell, hurt by generic competition for its Risperdal schizophrenia drug and the strong dollar, but lower costs enabled the company to beat Wall Street expectations

The diversified health-care company, whose shares rose more than 3 percent in premarket trading, said it earned $3.51 billion, or $1.26 per share, in the first quarter. That compared with $3.6 billion, or $1.26 per share, in the year-earlier period.

Analysts on average expected $1.22 per share, according to Reuters Estimates.

J&J reaffirmed its 2009 profit forecast of $4.45 to $4.55 per share.

All eyes are likely to focus on J&J's results on Tuesday because it is a component of the Dow Jones industrial average and the first major U.S. health-care company to report first-quarter results.

Global company revenue fell 7.2 percent to $15 billion in the period, well below the $15.43 billion Reuters Estimates forecast. Sales would have fallen only about 1 percent if not for the stronger dollar, which depresses the value of overseas sales when converted back into U.S. currency.

But J&J bolstered results by cutting spending more than 10 percent on research, and on sales, general and administrative expenses.

They've managed things well, reducing expenses the way they had telegraphed they would, and it's going straight to the bottom line, said Steve Brozak, an analyst with WBB Securities.

This is a game of expectations, and even though sales were weak across all three of J&J's business units, people were expecting far worse numbers, Brozak said.

(Reporting by Ransdell Pierson, additional reporting by Lewis Krauskopf; Editing by Maureen Bavdek)

Japanese yen rebounds from multi-day lows against majors

The Japanese yen recouped its recent losses against its major counterparts on Tuesday morning in Asia. The yen advanced to 148.5 against the pound, 88.03 versus the franc, 99.99 against the greenback and 133.27 versus the euro by 9:00 pm ET from its recently hit multi-day lows of 149.34, 88.71, 100.44 and 134.35, respectively.

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J. Crew bought out, who's next?

Apparel retailer J. Crew (NYSE:JCG) just agreed to be acquired by two private equity firms for about $3 billion, or $43.50 per share. Mergers and acquisitions (M&A) are on the rise as investors and corporations are putting their excessive cash holdings to good use.

(JCG stock closed at $37.65 per share at Monday's close just prior to the takeover announcement).

In some cases, it's just a matter of scooping up bargains that Wall Street has neglected. In other cases, investors deem a company to be inefficiently (or wrongly) managed, so they buy it out, put in place better policies, and thus create better value. 

Takeovers can sometimes trigger a wave of copycats in the same sector because similar companies are perceived to be also undervalued or inefficiently managed. 

J. Crew's takeover has boosted the stock prices of several other retailers, possibly because this acquisition -- and that of Gymboree (NASDAQ:GYMB) earlier --  is stoking interest in the sector. Jim Cramer, a former hedge fund manager and host of CNBC's Mad Money, thinks the retail sector could see more M&A.

Many retailers are selling at ridiculous prices to their long-term growth rates, said Cramer in an MSN Money commentary. 

Stocks that rallied in hopes of being the next buy-out target include Staples (NASDAQ:SPLS), Urban Outfitters (NASDAQ:URBN), Big Lots (NYSE:BIG), Abercrombie & Fitch (NYSE:ANF), J.C. Penney (NYSE:JCP), RadioShack (NYSE:RSH), Gap Stores (NYSE:GPS), Macy's (NYSE:M), and Limited Brands (NYSE:LTD), according to Cramer. 

Of all the above-listed stocks, Big Lots and Staples rallied the most in the last two days, gaining 4.29 percent and 3.77 percent, respectively, so the market certainly thinks they're possible targets.

Cramer, however, is bearish on Big Lots in general and would only make a Staples buyout contingent on the shrinking of Office Depot (NYSE:ODP), one of Staples' competitors.

He thinks the most logical takeover target is Limited Brands (NYSE:LTD), which is cheaply valued, could be easily broken up, and has good potential to grow.

US demand for gasoline to drop: AP report

The demand for gasoline might never get back to levels seen during 2006, as alternate forms of fuel gain more popularity, a report by AP said.

By 2030, Americans will burn at least 20 percent less gasoline than today even as the numbers of cars go up, the report said, citing experts.

Demand for oil generally slumps during the recession and picks up in a few years. However, most executives of oil companies, including ExxonMobil, agree that demand has peaked for good, the report added.

America is one of the largest consumers of oil and gasoline products.

People are getting more energy conscious, switching to cheaper and more environment-friendly sources of energy. The U.S. government is also pushing fuel alternatives, and trying to educate people to reduce carbon emissions.

The government is also trying to make cars more fuel-efficient, providing more mileage. Major auto manufacturers such as GM are releasing more electric cars, which have the same amount of horsepower as the one that runs on oil or gas.

These cars that are known as green cars are also beneficiaries of several government subsidies that help their popularity.

Starting in 2012, each carmaker's fleet much average 30.1 mpg, up from 27.5, the AP report said.

By the 2016 model year, that number must rise to 35.5 mpg. And, starting next year, SUVs and minivans, once classified as trucks, will count toward passenger vehicle targets, the report added.

Also, by 2022, U.S.'s fuel mix must include 6 billion gallons of ethanol and other biofuels, up from 14 billion gallons in 2011, AP said.

Additionally, the high cost of gas and demand in Asian regions will promote the use of biofuels and alternative sources of energy in the U.S.

OTHER FACTORS

The report stated that gasoline consumption will also be affected by other factors.

Baby boomers will drive less as they age. The surge of women entering the work force and commuting in recent decades has leveled off. And the era of Americans commuting ever farther distances appears to be over. One measure of this, vehicle miles traveled per licensed driver, began to flatten in the middle of the last decade after years of sharp growth, the report said.

This is expected to result in lower demand and lesser dependence on foreign oil, as well as benefit the environment.

The demand for fuel guzzlers such as SUVs and Hummers fell during the recession when oil prices peaked.

The U.S. will still remain one of the largest consumers of gasoline, followed by China, the report said.

However, the decrease in demand in the U.S. will be offset by the increase in Asia and other Middle Eastern countries, ensuring that oil prices will continue to remain high.

Gold not to lose luster; could hit $2,000 by end-2012

Gold prices will keep rising over the next two years to hit $1,600 per ounce by the end of 2011 and $2,000 by end of 2012, as fresh shocks to the global financial system are expected, an analyst has said.

Capital Economics analyst Julian Jessop also said the ratio of gold to oil prices, which is currently 15 with gold at $1,382 per ounce and Brent crude at $92 per barrel, will more than double in the next two years.

.. the price of gold should continue to be supported by demand for a safe haven from other potential economic and financial shocks. Front-runners include the risks of a US-China trade war and some form of EMU break-up, Jessop wrote in a note on Tuesday.

He says even if the eurozone managed to avert eventual crumbling down, the continuing financial crisis in Europe will keep investors nervous. Also, Japan's long-term fiscal problems will finally come to a head in the next year or two, dealing another blow to global recovery.

Jessop says apart from weather, commodity prices have recently been boosted by two factors - hopes that the global recovery is gathering pace, and lingering fears that ultra-loose monetary and fiscal policy in the US will trigger runaway inflation and a collapse in the dollar.

However, hopes that global recovery is steady are only partially founded on reality. New fiscal stimulus measures could lift US GDP growth to 3 percent in 2011, but this is unlikely to prompt a sustained pick-up in private sector demand and unemployment will remain high, depressing GDP growth to 2 percent in 2012.

He points out that a severe fiscal squeeze is looming in Europe and that there is little evidence that the Chinese economy is becoming any more balanced. Meanwhile he doesn’t expect that inflation fears will dent the gold rally either. ... inflation fears are completely overdone ... while the dollar is increasingly likely to be seen as the best of a bad bunch among the major currencies.

Jessop also points out that gold prices haven’t shot up unrealistically high. ... gold is still not particularly expensive relative to other commodities or its own history.

He says the ratio of gold to oil prices will more than double in the next two years. Our forecasts for gold and oil prices suggest this ratio could more than double in the next two years, but in conditions that would justify a substantial premium for the precious metal.

Jennifer Lawrence as Katniss Everdeen

DADT repeal to take effect in months: Obama

President Barack Obama said on Wednesday that implementation of a repeal of the Don't Ask, Don't Tell policy would be a matter of months.

Obama's comments were made in an online interview following his signing of the repeal into law.

Before signing the measure on Wednesday, Obama did not give a timeline but expressed urgency, saying his administration would not be dragging our feet.

While the policy banning openly gay service members has been repealed, the timing of the process to implement it has not been specifically described.

The implementation and certification process will take an additional period of time, said Defense Department Secretary Robert Gates last week after the Senate voted to repeal the law.

Obama, Gates and Adm. Mike Mullen, the chairman of the Joint Chiefs of Staff must certify that the policy can be implemented without harming military readiness, unit cohesion and recruiting. After doing so, there will be a 60-day period before it takes effect.

The plans to put the new policy into effect will include various administrative issues including revising policies and regulations, and creating training programs to educate troops about the change, among others.

The person Gates has charged with leading the repeal implementation is retired marine general Clifford Stanley, who currently serves as the undersecretary of Personnel and Readiness for the department.

When a court order temporarily blocked enforcement of the policy in October, Stanley warned military service members would have adverse consequences if they altered their personal conduct in this legally uncertain environment.

Gates and other top military officials had urged Congress to pass the repeal instead of allowing the courts to impose a repeal without adequate time to prepare the military for it.