US Futures Pare Losses, but Trend Still Down
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*U.S. expected to cut spending on Medicare, Medicaid. A 2 percent cut to Medicare spending will come into effect in March, unless lawmakers agree to postpone it, while the federal agency in charge of Medicare is likely to announce a cut in reimbursements for dialysis providers for 2014 to reflect a drop in the use of an expensive drug to treat a side effect.
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Jan 30- Skyworks Solutions Inc posted better-than-expected quarterly results on higher demand for its chips used to connect cellphones to the network. Net income for the Apple Inc supplier rose to $66.5 million, or 34 cents per share, in the first quarter, from $57.1 million, or 30 cents per share, a year earlier. Excluding items, the company earned 55 cents per share.
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*Oct rise of 0.1 pct had spurred weak Q4 forecasts. OTTAWA, Jan 31- Canada's economy grew faster than expected in November, rising 0.3 percent after a tepid 0.1 percent rise in October and no gain in September, Statistics Canada said on Thursday.
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UPS, the world's largest package-delivery company, said it expects earnings to rise 6 percent to 12 percent in 2013, to $4.80 to $5.06 per share, which is below the average Wall Street target of $5.11.
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WASHINGTON, Jan 31- American incomes rose in December by the most in eight years, a positive sign for consumer spending that could help the economy sustain momentum early this year. Personal income for Americans rose 2.6 percent last month, the Commerce Department said on Thursday.
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WASHINGTON, Jan 31- U.S. labor costs rose modestly in the fourth quarter, pointing to benign wage inflation that should allow the Federal Reserve to continue its monetary stimulus program to nurse the sluggish economy.
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LONDON, Jan 31- Shareholders must be hoping the removal of Aubrey McClendon as Chesapeake's chief executive will end the corporate governance discount attached to the company's share price and unlock superior returns. Shareholder activists like Carl Icahn have focused on governance issues.
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*Adjusted profit $2.20/ share vs Street view $2.15. Energizer said it earned $129.8 million, or $2.07 per share, in the fiscal first quarter ended Dec. 31, down from $143.8 million, or $2.15 per share, a year earlier. Excluding items, earnings per share rose to $2.20 from $2.05, and topped analysts' target of $2.15, according to Thomson Reuters I/B/E/S.
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WASHINGTON, Jan 31- The number of Americans filing new claims for unemployment benefits bounced off five-year lows last week, pulling them back to levels consistent with modest job growth. Initial claims for state unemployment benefits increased 38,000 to a seasonally adjusted 368,000, the Labor Department said on Thursday.
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Midwest rains lift Mississippi River water level. Plains states of Kansas, Oklahoma, Texas, Colorado and Nebraska is expected to continue struggling through the worst drought in over 50 years into early February and perhaps longer, an agricultural meteorologist said on Thursday.
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Jan 31- Money manager Invesco Ltd, which runs the Powershares brand of exchange-traded funds, said its fourth-quarter profit slipped 7 percent as the firm gathered less new money from customers than in prior quarters.
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*Property crashes in Spain, Ireland intensified crisis. A bursting of the property bubbles in Ireland, Spain and, to a lesser extent, Portugal not only erased years of economic growth but left banks with trillions of euros of bad loans and has pushed up unemployment to record levels.
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*Facebook slumps in premarket after earnings. Facebook Inc shares lost 4.6 percent to $29.83 in premarket trading. Qualcomm Inc gained 6.3 percent to $67.55 in premarket trading after the world's leading supplier of chips for cellphones beat analysts' expectations for quarterly profit and revenue and raised its financial targets for 2013..
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Jan 31- Viacom Inc said quarterly revenue fell 16 percent on weaker results from its movie studio Paramount Pictures and lower advertising revenue at its stable of cable networks. Viacom's cable networks include MTV, Nickelodean and Comedy Central.
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*Quarterly adjusted EPS $1.51 vs $1.49 expected. *Sees 2013 adjusted EPS between $5.65 and $5.85. Excluding items, adjusted earnings were $1.51, which beat the average estimate on Wall Street of $1.49, according to Thomson Reuters I/B/E/S.
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*Forecasts 2013 profit of $2.75- $3.25/ share; Wall Street view $3.18. Jan 31- Potash Corp of Saskatchewan forecast a modest rebound in earnings for 2013, with key importers in China and eventually India resuming purchases of the crop nutrient potash, but the company's recovery will be more gradual than expected.
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Shawn Guertin, who has been with Aetna since 2011 and was previously CFO of Coventry Health Care Inc, which Aetna is buying, will replace Zubretsky on Feb. 25. The Hartford, Connecticut company announced plans in August for the $5.6 billion acquisition of Coventry, part of a strategy to expand in government-sponsored healthcare programs like Medicare.
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*Q4 profit of 64 cents a share, minus items, beats expectations by 3 cents. NEW YORK, Jan 31- Nasdaq OMX Group reported a higher fourth-quarter profit on Thursday, as an increase in non-transaction-based revenues outweighed an industry-wide drop in trading volumes.
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The maker of Hillshire Farm lunch meat and Jimmy Dean sausage said it expects commodity costs to get more "challenging" as 2013 progresses. Still, the newly independent meat company forecast earnings of $1.60 to $1.70 per share in fiscal 2013. Its prior outlook called for $1.40 to $1.55 per share.
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In another show of rising risk appetite, the 53 leading investors in the United States, Europe and Japan who took part in the poll, lifted their holdings of euro zone stocks to a 10- month high on average, with more than 80 percent convinced that the worst of the euro debt crisis is over.