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THE FEAR: Wall Street has been worried that the recent economic turbulence caused by Europe’s debt woes would cause major companies and government agencies to curtail technology spending. Oracle performance suggested a slowdown has already begun.

THE REACTION: Oracle Corp. shares fell 10 percent after the results came out late Tuesday.

DISAPPOINTING PERFORMANCE: Oracle’s earnings and revenue for its latest quarter fell well below analyst estimates. In a telltale sign of weakness, the company’s sales of new licenses for its business software edged up just 2 percent from the same time last year. Analysts had projected a double-digit gain.

LOS ANGELES (Reuters) “American Idol” returns on Wednesday for an 11th season, facing a new wolf at the door as it tries to retain its place as the No. 1 U.S. TV program — not so much age, but competition.

Rejuvenated by a judging panel makeover and the discovery of its biggest star in years in country singer Scotty McCreery, the Fox talent show last season saw a four percent increase in audience, reversing a trend that had seen viewership slip.

But that was before NBC launched its surprise 2011 summer hit “The Voice” and Simon Cowell brought his “The X Factor” to Fox in September with outsize hype but underwhelming critical reviews. Each show attracted about half the average 25.2 million viewers who watched “American Idol” in 2011.

Brian Mansfield, who covers “American Idol” for USA Today, said the contest faces more competition this year than ever.

“You are a month away from the end of ‘X Factor’ and a month away from the beginning of ‘The Voice’. And so you do wonder if, even though ‘X Factor’ was not as big a success as Simon Cowell had anticipated, if it managed to cannibalize viewers from ‘Idol.’ And I think that is the big question going in,” Mansfield said.

“Idol’s twice-a-week, five month search for a new singing star won’t be going to head to head with “The Voice,” which makes its second season premiere after the 2012 Superbowl on February 5 before settling in to a regular Monday night slot. This year, “Idol” will air on Wednesday and Thursday.

Yet, that means reality singing contest fans will face three nights a week of auditions, performances and exits if they want to keep up with both shows.

Fox says it is not overly concerned about the competition, calling “American Idol” the “gold standard” of TV singing contests which has produced bona-fide stars like Kelly Clarkson, Carrie Underwood and Jennifer Hudson.

“We’ve had several waves of competitors over the last 10 years, and this show (’Idol’) has stood up extraordinarily tall,” Fox reality programming chief Mike Darnell told TV reporters last week.

“ROARING BACK”

Darnell recalled that a year ago, TV critics were predicting the demise of “Idol” following the exit of acerbic judge Cowell. But, thanks partly to the addition of Aerosmith frontman Steven Tyler and pop star Jennifer Lopez as judges, “it came roaring back.”

“This is the show the audience loves, and this is the show the audience wants to come back to,” Darnell said.

Fox executives note that even if “American Idol” were to lose 10 percent of its audience from now on, it would still be a Top 3 show until 2015, if all the other shows on TV continued their current performance.

Yet this year, more than ever, questions are being raised about viewer fatigue, given the new, rival shows.

“That is the thing I am really curious about. Is there going to be singing competition burn out?” said Mansfield.

Mansfield wasn’t talking so much about “The Voice”, which put a twist on the format with blind auditions and live performances by its superstar judges Christina Aguilera, Cee Lo Green, Adam Levine and Blake Shelton.

“X Factor,” however, was so similar to “Idol” that viewers might have little appetite for another singing binge so soon, Mansfield said.

“I would be less concerned about direct competition from ‘The Voice’ than having viewers siphoned by ‘X Factor’ who now go, enough of the singing competitions,” he said.

The verdict is unlikely to come during the first few weeks of the program, as audiences often don’t connect until late in a season when they get a say in which contestants stay or go.

“Idol” caught fire in 2011 as teen country stars Scotty McCreery and Lauren Alaina emerged as likely finalists. McCreery, 17, the eventual winner, went straight to the top of the Billboard album charts in October in the best debut by an Idol champion since 2008. Last week, McCreery’s “Clear As Day” album went platinum after selling more than one million copies.

“Last year, we had nearly twice the numbers to our Idol Chatter website around the final than we have ever had. For us, it was a jaw-dropping number,” said Mansfield.

Fox television is a unit of News Corp; NBC is majority owned by Comcast Corp.

(Reporting By Jill Serjeant; Editing by Bob Tourtellotte)

LOS ANGELES (TheWrap.com) Metallica is fueling up for a 3D film, the heavy-metal band confirmed Friday following months of speculation. The movie is being targeted for a theatrical release in 2013.

“There is indeed a 3D project in the very early stages of production!” the band said in a statement on Metallica.com.

It’s unclear if the project is a concert film, a documentary or something else altogether.

“We wish we could tell you more right now, but we don’t have all the finer points nailed down just yet,” the statement continued.

Metallica already has more than a dozen movie releases in its oeuvre, including two that have been in theaters. “Some Kind of Monster,” a documentary that captured in-fighting among band members, had a theatrical release in 2004.

“The Big 4 Live from Sofia, Bulgaria,” a concert film featuring performances by Metallica,Wholesale Ed hardy belts, Slayer, Megadeth and Anthrax, was shown in 450 theaters in the U.S. in 2010, prior to its release later that year.

The project won’t be the first 3D theatrical movie to be released by a band. U2 put out the concert film “U2 3D” in 2008, and 2009 saw the release of “Jonas Brothers: The 3D Concert Experience.”

WASHINGTON A new report finds that even in a tough economy,Replica Ed hardy, companies that are contracted to manage charter schools and other public schools are expanding.

The report out Friday is by the National Education Policy Center at the University of Colorado Boulder.

It says that much of the growth is in the area of online learning, known as “virtual schools.”

The operators are known as education management organizations. The sector emerged in the 1990s as part of an effort to use the market to force changes in public education. The report notes that there are almost 300 such companies today and that nearly 780,000 students attend schools operated by them.

In September, I told you about FedEx’s (NYSE: FDX - News) fiscal-first-quarter earnings’ growth story. In the second quarter, the company reported a bombastic 76% income growth compared to its previous-year quarter. The world’s second-largest packaged delivery company posted better-than-expected results thanks to strong Thanksgiving weekend online sales and a better price/volume mix,Inflatable Jumpers, sending the shares up after the announcement.

Let’s dig deeper.

The quarter
Profits increased to $497 million, a 76% year-over-year rise. The company earned $1.57 per share, beating the Street expectation of $1.53 per share. FedEx also improved its operational margins to 7.4%, from 4.9% last year, helped by fewer flights and frequencies.

Overall sales inched up by 10%, to $10.59 billion. Sales at FedEx’s largest business — FedEx Express — grew 10% and helped the company push up its revenue. Although international priority daily package volume was lower due to a weaker Asian market, the company still logged higher international priority revenues per package due to higher fuel surcharges, rate per pound, and weight per package.

Shopping and holiday mix
With an increase in online shopping during the Thanksgiving weekend, demand for residential delivery services shot up. The fact that online retailer Amazon.com is expected to have a strong holiday season is certainly good news for shipping companies like FedEx.

Looking beyond the quarter
Despite being hurt by a weak Asian market, FedEx has opened its largest express facility in China. The company sees China as an important market for express offerings as it can account for the bulk of FedEx’s future growth. Rival United Parcel Service (NYSE: UPS - News) is also increasing capacity in Asia.

Apart from expanding in Asia, FedEx has been conscious of lowering its costs. The company is buying 27 new 767-300 freighter planes from Boeing (NYSE: BA - News) to replace its aging MD-10 planes. The new planes will be 30% more fuel-efficient and more reliable. The order is valued at $4.7 billion. This investment will reduce unit operating costs by 20%.

The Foolish bottom line
FedEx posted bright numbers this quarter due to a combination of strong Thanksgiving weekend e-commerce and higher margins. With well-planned investments in Asia and cost-efficient strategies, FedEx looks intriguing. The company expects to earn $1.25 to $1.45 per share this quarter as compared to the Street expectation of $1.31 per share.

FedEx looks to be a solid bet going into 2012, but if you’d like to take a look at the one company our chief investment officer has picked for tremendous growth in 2012, check out The Motley Fool’s brand-new report, “The Motley Fool’s Top Stock for 2012.” It highlights a company that is revolutionizing commerce in Latin America. You can get instant access to the name of this company by clicking here — it’s free.

Navjot Kaur does not own shares of any of the companies mentioned in this article. The Motley Fool owns shares of FedEx, United Parcel Service, and Amazon.com. Motley Fool newsletter services have recommended buying shares of FedEx and Amazon.com. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

WASHINGTON An Education Department official on Wednesday admonished Hawaii for its “unsatisfactory” performance under a $75 million federal grant the state won last year in a high profile competition and said it was placing it under “high risk” status. That means the state is in danger of losing the money if it doesn’t make improvements.

This is the first time the department has placed under such a status a state that won dollars distributed in the competition known as “Race to the Top.” The contest is a signature education initiative under the Obama administration, which has used it to encourage states to enact changes it supports.

Hawaii was one of 11 states and the District of Columbia to win more than $4 billion in Race to the Top grants last year. The Hawaii Department of Education is the nation’s 10th largest school system and the only statewide district in the country.

The education community has been watching closely to see how aggressively the department will enforce the terms of the competition.

Hawaii still has about $72 million of its four-year, $75 million grant left to spend. The state has been well over a year behind in implementing many aspects of its plan to improve low-performing schools,Wholesale Abercrombie Fitch, and has struggled to roll out a teacher evaluation system tied to teacher performance that it promised.

“The department is concerned about the state’s ability to fulfill its commitments within the grant period,” Hawaii Gov. Neil Abercrombie was told in a letter dated Wednesday and signed by Education Department official Ann Whalen.

Because the state is now a high-risk grantee, it will be required to get pre-approval before funds are spent and will be subjected to a thorough on-site review, the letter said.

“Please note that failure to comply with the high-risk conditions may constitute a material failure to comply with the requirements of the grant,” the letter said.

Abercrombie said he found the implications of the letter “disturbing.”

“I am willing to do everything that’s necessary to proceed with Race to the Top and am calling on the responsible parties to immediately address the areas that need resolution,” he said in an emailed statement late Wednesday.

“It’s really apparent from the letter that everyone involved in education in Hawaii is going to have to step up,” Superintendent Kathryn Matayoshi said in a separate statement. “We acknowledge there’s work to be done.”

Stephen Schatz, Hawaii’s assistant superintendent for strategic reform who is overseeing the Race to the Top effort, last week told The Associated Press that the state was making progress on reforms it promised, although he said there have been roadblocks.

Schatz said the state’s ability to move forward has been slowed down by complications with the Hawaii State Teachers Association, the union representing public school teachers across the islands.

The two sides had reached a conceptual agreement before Hawaii was announced as a winner to tie half of a teacher’s evaluation to education gains made by students. But the union currently is embroiled in a prohibited practice complaint it lodged with the state labor relations board against the state. The union claims the state violated members’ rights by implementing its “last, best and final” contract offer over the summer.

“We’re still wholeheartedly committed to the reforms in the race. Whatever impediments that we may face we intend to get through them,” Schatz said. “We’re making progress on every project in our scope of work.”

Abercrombie said he would ask the labor relations board to expedite its process. He also plans to appeal to the Legislature for support and ask the superintendent, Board of Education and those working on Race to the Top to address the changes noted by the Education Department.

“It is clear on what actions need to take place and it is time to get this done now,” he said.

Union President Wil Okabe said Wednesday he’s not surprised Hawaii has been placed on high risk status, but that state officials should have recognized the risk to the grant when imposing the contract offer on teachers.

“Once they implemented this thing, it had ramifications on everything,” he said, adding that it’s unfair to blame the union for the position the state is in.

The letter to Abercrombie comes as President Barack Obama attempts to leave for Hawaii for his family’s annual Christmas vacation. The president’s wife and daughters are already in Hawaii, but his travel plans are up in the air because Congress has been unable to reach agreement over extending payroll tax cuts and unemployment benefits due to expire at the end of the year.

___

Kimberly Hefling can be followed at http://twitter.com/khefling

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Kelleher reported from Honolulu.

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Online:

Education Department: http://www.ed.gov/

Hawaii Public Schools: http://doe.k12.hi.us/

LOS ANGELES (TheWrap.com) Superheroes will square off against wizards and apes will do battle with pirates in the next round of the Academy Awards’ Visual Effects race.

The Academy announced on Wednesday that the field has been narrowed from 15 films to 10 by the Visual Effects Branch’s Executive Committee. The remaining films include all of the presumed favorites, including “Rise of the Planet of the Apes,” “Hugo,” “Harry Potter and the Deathly Hallows Part 2″ and “Transformers: Dark of the Moon.”

Terrence Malick’s “The Tree of Life,” which has a 20-minute effects sequence early in the film, also moved on to the next round,Wholesale Abercrombie Fitch, a “bakeoff” in which clips from the 10 semi-finalists will be shown to voters at the Academy on January 19.

After that presentation, branch members will vote and the field of 10 will be cut in half to produce the final five nominees.

The most surprising cut from the list of 15 is probably “Super 8,” with its spectacular train-crash sequence. Other films that were eliminated are “Cowboys & Aliens,” “Sherlock Holmes: A Game of Shadows,” “Sucker Punch” and “Thor.”

The shortlist:

“Captain America: The First Avenger”

“Harry Potter and the Deathly Hallows Part 2″

“Hugo”

“Mission: Impossible — Ghost Protocol”

“Pirates of the Caribbean: On Stranger Tides”

“Real Steel”

“Rise of the Planet of the Apes”

“Transformers: Dark of the Moon”

“The Tree of Life”

“X-Men: First Class”

LOS ANGELES (TheWrap.com) Will there be a red carpet or a green Astroturf entrance?

Either way, “30 Rock” star Alec Baldwin will lead the festivities for the first-ever “NFL Honors” awards show, a Super Bowl eve broadcast that will include current and former NFL stars and the doling out of awards for the best players and plays of the NFL season.

The two-hour, February 4 NBC special, from 9-11 p.m., kicks off what the NFL plans to schedule as an annual event, with league players receiving honors like Associated Press Most Valuable Player of the Year, AP Coach of the Year, AP Offensive and Defensive Players of the Year,Replica Abercrombie Outlet, Walter Payton NFL Man of the Year, AP Comeback Player of the Year, Rookie of the Year and Play of the Year.

Jerry Rice, Barry Sanders, Deion Sanders, Shannon Sharpe and Steve Young are among the NFL elite confirmed to attend the show, which will begin on the NFL Network with an awards pre-show at 8 p.m.

“NFL Honors” will take place at the Murat Theater in Indianapolis, the host city for Super Bowl XLVI, and will include a live performance from Lenny Kravitz. The special will continue to air from the Super Bowl host city in future years.

BEIJING (Reuters) China’s quality watchdog said it has found no further problems with milk tainted by high levels of carcinogenic mildew in tests of products by major dairy producers.

Public concern was triggered this week after milk giant Mengniu Dairy Co Ltd said its Sichuan plant had destroyed products found by a government quality watchdog to contain the cancer-causing substance aflatoxin.

Aflatoxin occurs naturally in the environment and is produced by certain common types of fungi. It can cause severe liver damage, including liver cancer.

The General Administration of Quality Supervision, Inspection and Quarantine said in a statement late on Friday that checks covering other major producers “did not discover levels of aflatoxin which exceed standards.”

The companies tested included Mengniu, Beijing Sangyuan Foods Co, Yili Industrial Group Co, Nestle SA and Bright Dairy & Food Co, it said.

Fungi and the aflatoxin they produce can infect crops before harvest or during harvesting and storage. The tainted crops then enter the food chain either directly or indirectly via animal feed.

The official Xinhua news agency, citing a quality watchdog official, said the toxin had originated from cows eating mildewed feed.

The aflatoxin scare has since spread to some cooking oils and peanuts in the southern province of Guangdong.

These incidents are the latest in a string of safety scandals to hit China’s food industry in recent years.

In 2008, at least six children died and nearly 300,wholesale Burberry Cheap,000 became ill in China from drinking powdered milk laced with melamine, an industrial chemical added to low-quality or diluted milk to give misleadingly high protein readings.

(Reporting by Fang Yan and Ben Blanchard; Editing by Paul Tait)

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