Boy, grandmother seriously hurt in West Side fire









A woman who was unable to pull her 3-year-old grandson out of her apartment after it caught fire was also injured when she followed rescuing firefighters back into the apartment as they saved the boy this afternoon, officials said.


The child and the grandmother were taken to John H. Stroger, Jr. Hospital of Cook County from the fire in the 2300 block of West Van Buren Street, said Chicago Fire Department spokesman Larry Langford. Firefighters at the scene said the two injured people were a boy and his grandmother.


The child was in serious-to-critical condition and the adult was in fair-to-serious condition, Fire Department's spokeswoman Meg Ahlheim said.





The fire, which generated a large amount of smoke, is believed to have started in a closet in a 7th-floor apartment, Langford said. Firefighters were called to the scene about 1:30 p.m. and it was declared under control just before 2 p.m. An EMS Plan 1, which sends six ambulances to the scene, was called for the fire.


Firefighter Benjamin Villa said fire trucks pulled up to the building and at first saw no smoke, but "immediately just ran up and were checking all floors," Villa said. When the firefighters reached the 7th floor, the hallway was full of smoke, and they came upon the grandmother.


The woman was standing outside an apartment door and when he asked if anyone was inside, she said her grandson was.


Firefighters entered the apartment and the grandmother followed, but collapsed herself, fire officials said.


Villa saw the child on the floor in the bedroom, and while "He was whimpering, he was still breathing," Villa said.


"I was just praying for the kid. I was telling him to hold on, hold on," as he ran down all 7 flights of stairs holding the boy, Villa said.


Dozens of residents clad in winter coats, some carrying young children, stood scattered outside just after 2 p.m. as about 80 firefighters finished clearing out the seven-story brick building.


Children ran around and played while others huddled in groups and chatted as they waited to return inside.


Meanwhile, several ambulances and fire trucks parked in adjoining parking lots of the gated apartment complex.


Fire officials said they are investigating the cause of the fire and could not say if it appeared suspicious or accidental.


The blaze started in the bedroom closet of the apartment unit and the boy was found at the base of the bed in the same room, said Deputy District Chief Don Hroma.


There are smoke detectors in the hallways of the building, but not inside the apartment units, according to Hroma.


A few days ago, firefighters also battled a blaze at a different building of the same complex, though Hroma did not have immediate details.


Tribune reporters Liam Ford and Rosemary Sobol contributed.


chicagobreaking@tribune.com

Twitter: @ChicagoBreaking





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Apple falls on lower shipment forecasts, muted China debut


(Reuters) - Apple Inc shares fell 3.9 percent on Friday after the iPhone 5 debuted in China to a cool reception and two analysts cut shipment forecasts.


Jefferies analyst Peter Misek trimmed his iPhone shipment estimates for the Jan-March quarter, saying that the technology company had started cutting orders to suppliers to balance excess inventory.


Shares of Apple suppliers Jabil Circuit Inc, Qualcomm Inc, Skyworks Solutions Inc, TriQuint Semiconductor Inc, Avago Technologies Ltd, and Cirrus Logic Inc also fell in early trading.


Apple shares have lost a quarter of their value since they hit a life high of $705.07 on September 21, as it faces increasing competition from phones using Google Inc's Android operating system.


Misek cut his first-quarter iPhone sales estimate to 48 million from 52 million and gross margin expectations for the company by 2 percentage points to 40 percent.


UBS Investment Research cut its price target on Apple stock to $700 from $780 on lower expected iPhone and iPad shipments for the March quarter.


The brokerage said it was modeling more conservative growth for the world's biggest technology company after making supply chain checks that revealed that fewer iPhones were being built.


"Some of our Chinese sources do not expect the iPhone 5 to do as well as the iPhone 4S," UBS analyst Steven Milunovich wrote in a note to clients.


Apple launched the iPhone 5 in China on Friday, a move widely expected to bring the Cupertino-based company some respite from a recent slide in market share in China, but early reports indicated that demand may not be as great as expected.


"The iPhone 5 China launch has been surprisingly muted but (we) are unsure how much weather (snow) or the required pre-ordering (to prevent riots) are factors," Misek said.


Apple shares fell as low as $508.50 in morning trading on the Nasdaq on Friday.


(Editing by Supriya Kurane)



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Texans clinch AFC South with 29-17 win over Colts


HOUSTON (AP) — The Houston Texans have a message for the Indianapolis Colts:


Now we own the AFC South.


The Texans are division champions for the second straight year after beating the Colts 29-17 Sunday. Andre Johnson gained 151 yards receiving and a touchdown, Bryan Braman scored a special teams score on a blocked punt, and Shayne Graham kicked five field goals.


The Texans (12-2) grabbed their first AFC South title last season after the Colts nosedived without injured quarterback Peyton Manning. Manning is gone to Denver and rookie Andrew Luck couldn't do much against the inspired Houston defense.


The Colts (9-5) had won three straight games and needed a win to clinch a playoff berth a year after going 2-14 in 2011. Before that, they took the division seven times since Houston entered the league in 2002.


Thanks in great part to three sacks from J.J. Watt, Houston bounced back six days after an embarrassing 42-14 loss to New England on national television. The Texans will have home-field advantage throughout the AFC playoffs if they win out.


Luck threw for 186 yards with two touchdowns in the return to his hometown. He had led the Colts to a rookie-record six wins on drives in the fourth quarter or overtime this season, and he got the Colts within six points late in the third quarter.


But Houston's defense shut him down after that, and the Texans used Arian Foster to eat up the clock. Foster ran for a season-high 165 yards to leave him with 1,313 yards rushing, giving him his third straight year with at least 1,200.


Watt increased his AFC-leading sack total to 19 ½ — the NFL record for a season is 22 1-2 — and finished with 10 tackles. He also forced a fumble for the third straight game.


Luck was sacked five times playing behind a makeshift offensive line missing center Samson Satele (ankle) and right tackle Winston Justice (biceps).


Johnson, who has 11,008 yards receiving in his career, scored on a 3-yard reception to make it 10-0 in the first quarter. The Texans didn't score a touchdown on offense after that, but were helped by Braman's special teams effort.


Braman blocked his second punt of the season, recovered it and returned it 8 yards for his first career touchdown to make it 20-3 just before halftime.


Vick Ballard had 60 yards rushing on a Colts drive that ended with an 8-yard touchdown reception by Dwayne Allen to cut Houston's lead to 23-17 in the third quarter. Ballard finished with a career-high 105 yards rushing.


Houston couldn't do anything on its next drive and punted. But Indy sputtered, and interim coach Bruce Arians even drew an unsportsmanlike conduct penalty on a punt, giving Houston the ball at the Colts 39.


Graham added a 46-yard field goal to push the lead to 26-17 and made his fifth field goal with about a minute left.


Rookie T.Y. Hilton and Luck connected on a 61-yard touchdown pass just before halftime.


Watt's forced fumble on Mewelde Moore on the Houston 1 was recovered by Tim Dobbins early in the second quarter, robbing the Colts of points. And the Colts stalled inside the red zone again and had to settle for Adam Vinatieri's 26-yard field goal to cut Houston's lead to 10-3.


The Texans had set the tone as they got to Luck early, sacking him twice on the Colts' second drive. Antonio Smith got to him first, and Watt put a move on backup tackle Jeff Linkenbach and took him down for a 15-yard loss.


On offense, Johnson was dominant. He put Houston up 10-0 when he waltzed into the end zoen for a 3-yard touchdown reception. Johnson kept things going earlier in the drive when he caught a pass, lost it and then grabbed it again just before it touched the ground for a 10-yard gain on third-and-9.


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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Actor Depardieu puts Paris house up for sale






PARIS (Reuters) – French actor Gerard Depardieu, accused of trying to escape the taxman by buying a house just over the border in Belgium, has put his sumptuous Parisian home up for sale.


Depardieu, the latest wealthy Frenchman to seek shelter from government tax hikes, is selling a vast early 19th-century manor house in the Saint Germain district of the capital, playground of writers, jazz musicians and art dealers over the decades.






His real estate agent declined to say how much he was asking for a property that is on a list of protected national monuments and, as well as the main house, has a swimming pool, landscaped gardens and an ultramodern annex that once served as a theatre.


News of the Parisian sale plan came a day after French Prime Minister Jean-Marc Ayrault described Depardieu’s behavior as “pathetic” and unpatriotic at a time when the French are being asked to pay higher taxes to reduce a bloated national debt.


An angry member of parliament has proposed that France adopt a U.S.-inspired law that would force Depardieu or anyone trying to escape full tax dues to forego their nationality.


The 63-year-old “Cyrano de Bergerac” star recently bought a house in Nechin, a Belgian village a short walk from the border with France, where 27 percent of residents are French nationals, local mayor Daniel Senesael told French media on Sunday.


Depardieu also enquired about procedures for acquiring Belgian residency, he said.


The move comes three months after Bernard Arnault, chief executive of luxury giant LVMH and France’s richest man, caused an uproar by seeking to establish residency in Belgium – a move he said was not for tax reasons.


Belgian residents do not pay wealth tax, which in France is now levied on those with assets over 1.3 million euros ($ 1.7 million). Nor do they pay capital gains tax on share sales.


Socialist President Francois Hollande is pressing ahead too with plans to impose a 75-percent supertax on income over 1 million euros.


While Depardieu’s real estate agents did not comment on the price being sought for the Paris property, a local newspaper suggested it could be in the region of 50 million euros.


At average prices quoted on the Internet, a property of that size would command upwards of 20 million, without the additional status of a national monument, celebrity appeal or the artwork renovation commissioned by Depardieu when he bought it in 2003.


Depardieu’s agents declined to comment.


(Reporting by Brian Love and Gerard Bon; editing by Andrew Roche)


Movies News Headlines – Yahoo! News





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Experts: No link between Asperger's, violence


NEW YORK (AP) — While an official has said that the 20-year-old gunman in the Connecticut school shooting had Asperger's syndrome, experts say there is no connection between the disorder and violence.


Asperger's is a mild form of autism often characterized by social awkwardness.


"There really is no clear association between Asperger's and violent behavior," said psychologist Elizabeth Laugeson, an assistant clinical professor at the University of California, Los Angeles.


Little is known about Adam Lanza, identified by police as the shooter in the Friday massacre at a Newtown, Conn., elementary school. He fatally shot his mother before going to the school and killing 20 young children, six adults and himself, authorities said.


A law enforcement official, speaking on condition of anonymity because the person was not authorized to discuss the unfolding investigation, said Lanza had been diagnosed with Asperger's.


High school classmates and others have described him as bright but painfully shy, anxious and a loner. Those kinds of symptoms are consistent with Asperger's, said psychologist Eric Butter of Nationwide Children's Hospital in Columbus, Ohio, who treats autism, including Asperger's, but has no knowledge of Lanza's case.


Research suggests people with autism do have a higher rate of aggressive behavior — outbursts, shoving or pushing or angry shouting — than the general population, he said.


"But we are not talking about the kind of planned and intentional type of violence we have seen at Newtown," he said in an email.


"These types of tragedies have occurred at the hands of individuals with many different types of personalities and psychological profiles," he added.


Autism is a developmental disorder that can range from mild to severe. Asperger's generally is thought of as a mild form. Both autism and Asperger's can be characterized by poor social skills, repetitive behavior or interests and problems communicating. Unlike classic autism, Asperger's does not typically involve delays in mental development or speech.


Experts say those with autism and related disorders are sometimes diagnosed with other mental health problems, such as depression, anxiety, bipolar disorder or obsessive-compulsive disorder.


"I think it's far more likely that what happened may have more to do with some other kind of mental health condition like depression or anxiety rather than Asperger's," Laugeson said.


She said those with Asperger's tend to focus on rules and be very law-abiding.


"There's something more to this," she said. "We just don't know what that is yet."


After much debate, the term Asperger's is being dropped from the diagnostic manual used by the nation's psychiatrists. In changes approved earlier this month, Asperger's will be incorporated under the umbrella term "autism spectrum disorder" for all the ranges of autism.


__


AP Writer Matt Apuzzo contributed to this report.


___


Online:


Asperger's information: http://1.usa.gov/3tGSp5


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'Hobbit' bests 'Rings' with $84.8 million opening


NEW YORK (AP) — Peter Jackson's "The Hobbit" led the box office with a haul of $84.8 million, a record-setting opening better than the three previous "Lord of the Rings" films.


The Warner Bros. Middle Earth epic was the biggest December opening ever, surpassing Will Smith's "I Am Legend," which opened with $77.2 million in 2007, according to studio estimates Sunday. "The Hobbit: An Unexpected Journey" also passed the December opening of "Avatar," which opened with $77 million. Internationally, "The Hobbit" also added $138.2 million, for an impressive debut well north of $200 million.


Despite weak reviews, the 3-D adaptation of J. R. R. Tolkien's first novel in the fantasy series was an even bigger draw than the last "Lord of the Rings" movie, "The Return of the King." That film opened with $72.6 million. "The Hobbit" is the first of another planned trilogy, with two more films to be squeezed out of Tolkien's book.


While Jackson's "Rings" movies drew many accolades — "The Return of the King" won best picture from the Academy Awards — the path for "The Hobbit" has been rockier. It received no Golden Globes nominations on Thursday, though all three "Rings" films were nominated by the Hollywood Foreign Press Association for best picture.


Particularly criticized has been the film's 48-frames-per-second (double the usual rate), a hyper-detailed look that some have found jarring. Most moviegoers didn't see "The Hobbit" in that version, though, as the new technology was rolled out in only 461 of the 4,045 theaters playing the film.


Regardless of any misgivings over "The Hobbit," the film was a hit with audiences. They graded the film with an "A'' CinemaScore.


"What's really important, what makes this special is the CinemaScore," said Dan Fellman, president of domestic distribution for Warner Bros. "All these things point to a great word of mouth. We haven't even made it to the Christmas holidays yet. Kids are still in school this week."


The strong opening culminated a long journey for "The Hobbit," which was initially delayed when a lawsuit dragged on between Jackson and "Rings" producer New Line Cinema over merchandizing revenue. At one point, Guillermo del Toro was to direct the film with Jackson producing. But eventually the filmmaker opted to direct the movie himself, originally envisioning two "Hobbit" films. The production also went through the bankruptcy of distribution partner MGM and a labor dispute in New Zealand, where the film was shot.


The long delay for "The Hobbit," nearly a decade after the last "Lord of the Rings" film, made it "one of those movies that had everyone scratching their heads as to how it would open," said Paul Dergarabedian, an analyst for box-office tracker Hollywood.com.


"It's been a decade since the 'Lord of the Rings' trilogy concluded," said Dergarabedian. "There's been so much anticipation for this film and having Peter Jackson back at the helm just made it irresistible both to fans and the non-initiated alike."


"The Hobbit" was far and away the biggest draw in theaters, with no other new wide release. Paramount's "Rise of the Guardians" continued to draw the family crowd, with $7.4 million, bringing its cumulative total to $71.4 millon. The Oscar contender "Lincoln" from Walt Disney crossed the $100 million mark, adding another $7.2 million to bring its six-week total to $107.9 million. And Sony's James Bond film "Skyfall," with another $7 million domestically, drew closer to a global take of $1 billion.


The box office continued to be on the upswing and with anticipated releases like "Les Miserables," ''Django Unchained" and "The Guilt Trip" approaching in the holiday moviegoing season. Dergarabedian expects the year to break the 2009 record of $10.6 billion. With some $10.2 billion in revenue thus far, he said, "We're on track to be in that realm."


Estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Hollywood.com. Where available, latest international numbers are also included. Final domestic figures will be released Monday.


1. "The Hobbit: An Unexpected Journey," $84.8 million.


2. "Rise of the Guardians," $7.4 million.


3. "Lincoln," $7.2 million.


4. "Skyfall," $7 million.


5. "Life of Pi," $5.4 million.


6. "The Twilight Saga: Breaking Dawn, Part 2," $5.2 million.


7. "Wreck-It Ralph," $3.3million.


8. "Playing for Keeps," $3.2 million.


9. "Red Dawn," $2.4 million.


10. "Silver Linings Playbook," $2 million.


___


Universal and Focus are owned by NBC Universal, a unit of Comcast Corp.; Sony, Columbia, Sony Screen Gems and Sony Pictures Classics are units of Sony Corp.; Paramount is owned by Viacom Inc.; Disney, Pixar and Marvel are owned by The Walt Disney Co.; Miramax is owned by Filmyard Holdings LLC; 20th Century Fox and Fox Searchlight are owned by News Corp.; Warner Bros. and New Line are units of Time Warner Inc.; MGM is owned by a group of former creditors including Highland Capital, Anchorage Advisors and Carl Icahn; Lionsgate is owned by Lions Gate Entertainment Corp.; IFC is owned by AMC Networks Inc.; Rogue is owned by Relativity Media LLC.


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Hillshire Brands starting up in new space

Hillshire Brands, formerly known as Sara Lee, is prepare to move their operation from a Downers Grove corporate campus to a downtown Chicago location. (Chris Walker, Chicago Tribune)









Hillshire Brands was literally on the move this past week.


The $4 billion meat company, carved from Sara Lee Corp. and anchored by Hillshire Farm, Jimmy Dean and Ball Park brands, moved from a gleaming, glassy corporate campus in Downers Grove — complete with a fountain in a man-made lake — into a refurbished industrial building in Chicago's noisy West Loop.


Aside from the logistical ballet in relocating about 600 employees and contractors, the move is expected to stimulate a new and innovative culture that Hillshire needs for growth.








Sara Lee began working on the move about a year ago when it signed a lease for the building at 400 S. Jefferson St. After spinning off its international beverage business, Sara Lee changed its name to Hillshire Brands in June and turned to a new management team. CEO Sean Connolly calls the move part of Hillshire's "rebirth."


On Wednesday evening, technical staff began disconnecting office computers, and employees were asked to work from home.


Moving trucks arrived in Downers Grove on Thursday and were to haul office contents in reusable plastic crates 23 miles to the new space by Friday evening. On Saturday, IT staff were to reconnect computers, copiers and printers with the expectation that on Monday, Hillshire employees can begin work. The company has declined to say how much it's spending on the move or building out the new space.


Moving a corporate headquarters is a complex undertaking.


"It's really about those hundreds of details you have to keep track of," explained Brian Hunter, a 12-year veteran of the company's real estate department whose team orchestrated the move. He came with plenty of experience. Seven years ago he consolidated three company offices and 1,100 employees at the Downers Grove campus. But this move is part of something bigger.


"This isn't a coming together under one roof," Hunter said. "It's completely different, a rebirth if you will. We've disposed of several businesses, spun off some things and emerged with a new name, new culture and new leadership. And that was a reason for selecting a location where Hillshire could take the entire building, rather than rent a few floors in a skyscraper.''


A major challenge was making the move work within four months, starting Aug. 1, when Hillshire got access to the interior of the building. That's when crews began constructing pantries, kitchens, cubicle pods, offices, conference rooms and private phone booths, a nod to employees who lost offices as part of a more open floor plan.


Built in 1944 to house a lithograph company, the building is probably known to thousands of baby boomers because it was used as an examining and entrance station for inductees into the armed forces during the Vietnam War.


The building largely was vacant when Sterling Bay Cos. purchased it late last year, then spent $24 million on renovations over roughly an eight-month period. Windows were added, walls and two internal water towers were taken down, and the roof was replaced.


The space's modern look — white walls and splashes of lime green and bright orange in the furniture and upholstery — is offset by lingering elements of the old building. For instance, holes from old conduit boxes still show, an effort to be "authentic," Hunter said.


Open communication


A lesson Hunter learned from the office consolidation seven years ago is that there's no such thing as too much communication. Earlier this year he launched a monthly newsletter called "the 411 on 400" a nod to the company's new address on South Jefferson Street. Recently it morphed into a weekly email, reminding employees how to pack and when, and what to expect. The tone was lighthearted. In keeping with his jovial spirit, Hunter dusted off his old hard hat from the last move. It has a Sara Lee logo on one side, so he slapped a Hillshire Brands sticker on the other.


Town hall meetings were held, at which employees were shown mock-ups of their future workspaces and photos of what was being built. Hunter's presentations included virtual tours. In addition, some team leaders took their people on building tours. Some made practice runs of their new commutes, as some employees' trips will lengthen significantly.


With the idea of getting employee buy-in, Hunter's team put four types of cubicles on display at the company's campus and asked for feedback. Employees voted for their favorites online, and the company purchased the cubicles with the most votes.


The communication efforts appear to have made a difference.


"I have never felt like I was in the dark," said Mike Schwartz, a 31-year-old assistant brand manager for Ball Park. He also credited Hunter's team with having "done a very good job being honest about the move."


Schwartz, who lives in Glenview, had a 35-minute driving commute to Downers Grove. The move to the West Loop will stretch his commute beyond an hour. That includes driving to the train, a Metra ride and walking to the office. But Schwartz said he's looking forward to the "excitement and energy" of a downtown work environment. He's also looking forward to catching up with grad school friends who live in the city, either at lunch or with beers after work.





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Crowd reacts after robbery suspect shot to death by police









A man believed to be one of four robbers who held up a truck driver this morning was shot to death by police a short time later in the city's Back of the Yards neighborhood, sparking a mob reaction at the scene, authorities said.


The shooting happened just before 11:30 a.m. in the 1600 block of West Garfield Boulevard near a gas station, police said. Chicago Police Department News Affairs confirmed that police shot someone in that area. A man in his 20s was shot to death at that location, according to the Cook County medical examiner's office.


Chicago Police Sgt. Michael Martin, speaking near where the shooting took place, said a mob scene ensued after the man was shot.

"People were throwing bricks and bottles at cop cars," Martin said. "A few squad cars are damaged."





Citing preliminary information, authorities said four robbers with guns held up a truck driver near 38th Street and Kedzie Avenue between 10 a.m. and 11 a.m.


The robbers attacked the truck driver, authorities said, but it's not immediately clear if they got away with any proceeds before fleeing the scene.


According to preliminary information, district officers responded to a dispatch call of the robbery in progress, said Pat Camden, a spokesman for the Fraternal Order of Police.


Several suspects in a SUV were reported to have broken into a stopped truck. The driver had gotten out of his truck and confronted the thieves, and they pulled a weapon out, Camden said.


The driver called 911 and told a dispatcher that he was robbed and the robbers may be armed, Camden said.


Witnesses were able to give police a detailed description of the robbers' vehicle -- a silver SUV, authorities said. Officers eventually spotted the SUV and chased it before it struck a light pole at Garfield and Ashland Avenue, authorities said.


Three of the robbers ran from the SUV, authorities said, but the fourth was involved in a confrontation with responding officers at the scene before he was shot.


One of the officers caught one of the fleeing individuals, and the man "body-slammed" the officer to the ground, Camden said.


The other officer went to that officer's aid to try to subdue the suspect, and he saw the suspect reaching for a black metal object that was in his pocket, Camden said.


The officer, fearing it was weapon, fired at the man, Camden said.


That man's condition was not immediately known, but the other three are at large this afternoon.


Both officers were taken to Mercy Hospital and Medical Center, but Camden did not know their conditions. Camden said the suspect, described as in his 20s, was taken to Saint Bernard Hospital and Health Care Center.


Witnesses at the scene said the man was dead, but that has not been confirmed with the medical examiner's office.


When asked if a weapon was found at the scene, Camden said, "Not to my knowledge."


Camden said the shooting was still under investigation.


Hundreds of police and emergency vehicles lined Garfield Avenue near the gas station at Ashland Avenue.

A damaged silver SUV was seen getting towed away from the crash scene early this afternoon.

Cold rain fell as yellow police tape roped off the scene near the accident.

A group of bystanders gathered at the White Castle across the street said a handful of bystanders recorded the shooting on their phones.


Authorities said the robbery crew might be linked to another hold-up that occurred earlier this morning, prior to the one at 38th and Kedzie.


dawilliams@tribune.com, jgorner@tribune.com


Twitter: @neacynewslady





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Apple falls on lower shipment forecasts, muted China debut


(Reuters) - Apple Inc shares fell 3.9 percent on Friday after the iPhone 5 debuted in China to a cool reception and two analysts cut shipment forecasts.


Jefferies analyst Peter Misek trimmed his iPhone shipment estimates for the Jan-March quarter, saying that the technology company had started cutting orders to suppliers to balance excess inventory.


Shares of Apple suppliers Jabil Circuit Inc, Qualcomm Inc, Skyworks Solutions Inc, TriQuint Semiconductor Inc, Avago Technologies Ltd, and Cirrus Logic Inc also fell in early trading.


Apple shares have lost a quarter of their value since they hit a life high of $705.07 on September 21, as it faces increasing competition from phones using Google Inc's Android operating system.


Misek cut his first-quarter iPhone sales estimate to 48 million from 52 million and gross margin expectations for the company by 2 percentage points to 40 percent.


UBS Investment Research cut its price target on Apple stock to $700 from $780 on lower expected iPhone and iPad shipments for the March quarter.


The brokerage said it was modeling more conservative growth for the world's biggest technology company after making supply chain checks that revealed that fewer iPhones were being built.


"Some of our Chinese sources do not expect the iPhone 5 to do as well as the iPhone 4S," UBS analyst Steven Milunovich wrote in a note to clients.


Apple launched the iPhone 5 in China on Friday, a move widely expected to bring the Cupertino-based company some respite from a recent slide in market share in China, but early reports indicated that demand may not be as great as expected.


"The iPhone 5 China launch has been surprisingly muted but (we) are unsure how much weather (snow) or the required pre-ordering (to prevent riots) are factors," Misek said.


Apple shares fell as low as $508.50 in morning trading on the Nasdaq on Friday.


(Editing by Supriya Kurane)



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7 leaving Big East to build basketball conference


The seven Big East schools that don't play FBS football are leaving behind the conference many of them founded to build a league focused on basketball.


The presidents of the seven schools made the announcement Saturday.


"Earlier today we voted unanimously to pursue an orderly evolution to a foundation of basketball schools that honors the history and tradition on which the Big East was established," the statement said. "Under the context of conference realignment, we believe pursuing a new basketball framework that builds on this tradition of excellence and competition is the best way forward."


The seven basketball schools leaving are: Georgetown, St. John's, Villanova, DePaul, Marquette, Seton Hall and Providence. Georgetown, St. John's, Seton Hall and Providence helped form the Big East, which started playing basketball in 1979. Villanova joined in 1980. The Big East didn't begin playing football until 1991.


The statement from the seven Catholic schools gave no details about their plans, such as when they want to depart and whether they will attempt to keep the name Big East.


Big East bylaws require departing members give the conference 27 months' notice, but league has negotiated early departures with several schools over the past year. Big East rules do allow schools to leave as a group without being obligated to pay exit fees.


There are also millions of dollars in NCAA basketball tournament money and exit fees collected from recently departed members that will need to be divvied up.


"The basketball institutions have notified us that they plan to withdraw from the Big East," Commissioner Mike Aresco said in a statement. "The membership recognizes their contributions over the long distinguished history of the Big East. The 13 members of the conference are confident and united regarding our collective future."


The latest hit to the Big East leaves Connecticut, also a founding member of the league, Cincinnati, Temple and South Florida — the four current members with FBS football programs — as the only schools currently in the Big East that are scheduled to be there beyond next season.


The Big East is still lined up to have a 12-team football conference next season with six new members joining, including Boise State and San Diego State for football only. Rutgers and Louisville, which both announced intentions to leave the Big East, are still expected to compete in the conference next year.


Notre Dame, which is moving to the Atlantic Coast Conference, is also expected to continue competing in the Big East next season in all sports but football and hockey.


Joining the Big East next season are Memphis, Central Florida, Houston and SMU for all sports and Boise State and San Diego State for football only.


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