Reyes joins growing craft beer market with Windy City deal









Independent breweries are still a niche category in the marketplace, but interest in them continues to grow.


Reyes Beverage Group, a division of global food and beer distributor Reyes Holdings of Rosemont, said Sunday it has reached an agreement to purchase Windy City Distribution, a well-regarded distributor of craft beers.


Brothers Jim and Jason Ebel founded Windy City in 1999. The firm operates as a distributor across eight northern Illinois counties for more than 40 craft breweries, such as Tyranena, Lagunitas and Jolly Pumpkin Artisan Ales. The Ebels also are the brewers behind Warrenville-based Two Brothers beer.





The deal, which is expected to close by the end of the year, is yet another sign of the coming-of-age of the craft beer scene, which is now much more part of the mainstream beer industry. In 2012, 442 craft breweries opened, according to the Beer Institute. The Brewers Association, a trade association, said sales of craft brews increased 14 percent in the first half of 2012 and volume jumped 12 percent.


While the beer industry overall has shown limited growth, the explosive interest in craft beer is enticing giants such as Anheuser-Busch, the maker of Budweiser, and MillerCoors, both of which have struggled to enter the craft market on their own. Since acquiring Chicago's Goose Island in 2011, Anheuser-Busch has aggressively expanded that well-known label. Earlier this year, it revealed plans to increase Goose Island's distribution to all 50 states, making it one of the few craft brands with a true national footprint.


Reyes' Chicago Beverage Systems and Windy City will not integrate their operations. Windy City's president, Bob Collins, and his management team will join Reyes. Chicago Beverage Systems distributes Miller, Coors and Heineken brands, among others.


"Windy City Distributing will be a new entity in our network focused solely on the craft beer market," said Ray Guerin, chief operating officer of Reyes Beverage Group. "I look forward to working with Windy City to learn more about servicing the craft beer industry while providing Reyes Beverage Group's expertise to help Windy City expand."


Terms of the transaction were not disclosed. Both companies are privately held.


mmharris@tribune.com


Twitter @chiconfidential





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Acquaintances describe Lanza as remote

The family of Nancy Lanza, the mother of elementary school shooter Adam Lanza, issued a statement of grief and condolence about Friday's massacre through local law enforcement in Kingston, N.H. (Dec. 15









NEWTOWN, Conn.—





The gunman behind the Connecticut elementary school massacre stormed into the building and shot 20 children at least twice with a high-powered rifle, executing some at close range and killing adults who tried to stop the carnage, authorities said Saturday.


He forced his way into the school by breaking a window, officials said. Asked whether the children suffered, Chief Medical Examiner Dr. H. Wayne Carver paused. "If so," he said, "not for very long."








The terrible details about the last moments of young innocents emerged as authorities released their names and ages — the youngest 6 and 7, the oldest 56. They included Ana Marquez-Greene, a little girl who had just moved to Newtown from Canada; Victoria Soto, a 27-year-old teacher who apparently died while trying to hide her pupils; and principal Dawn Hochsprung, who authorities said lunged at the gunman in an attempt to overtake him and paid with her life.


The tragedy has plunged Newtown into mourning and added the picturesque New England community of handsome Colonial homes, red-brick sidewalks and 27,000 people to the grim map of towns where mass shootings in recent years have periodically reignited the national debate over gun control but led to little change.


Faced with the unimaginable, townspeople sadly took down some of their Christmas decorations and struggled Saturday with how to go on. Signs around town read, "Hug a teacher today," ''Please pray for Newtown" and "Love will get us through."


"People in my neighborhood are feeling guilty about it being Christmas. They are taking down decorations," said Jeannie Pasacreta, a psychologist who was advising parents struggling with how to talk to their children.


School board chairwoman Debbie Leidlein spent Friday night meeting with parents who lost children and shivered as she recalled those conversations. "They were asking why. They can't wrap their minds around it. Why? What's going on?" she said. "And we just don't have any answers for them."


The tragedy brought forth soul-searching and grief around the globe. President Barack Obama planned to visit Newtown on Sunday. Families as far away as Puerto Rico planned funerals for victims who still had their baby teeth, world leaders extended condolences, and vigils were held around the U.S.


"Next week is going to be horrible," said the town's legislative council chairman, Jeff Capeci, thinking about the string of funerals the town will face. "Horrible, and the week leading into Christmas."


Police shed no light on what triggered Adam Lanza, 20, to carry out the second-deadliest school shooting in U.S. history, though state police Lt. Paul Vance said investigators had found "very good evidence ... that our investigators will be able to use in painting the complete picture, the how and, more importantly, the why." He would not elaborate.


However, another law enforcement official, speaking on condition of anonymity, said investigators have found no note or manifesto from Lanza of the sort they have come to expect after murderous rampages such as the Virginia Tech bloodbath in 2007 that left 33 people dead.


Lanza shot to death his mother, Nancy Lanza, at the home they shared, then drove to the school in her car with at least three of her guns, forced his way in and opened fire, authorities said. Within minutes, he killed 20 children, six adults and himself.


Education officials said they had found no link between Lanza's mother and the school, contrary to news reports that said she was a teacher there. Investigators said they believe Adam Lanza attended Sandy Hook Elementary many years ago, but they had no explanation for why he went there Friday.


Authorities said Adam Lanza had no criminal history, and it was not clear whether he had a job. Lanza was believed to have suffered from a personality disorder, said a law enforcement official who spoke on condition of anonymity.


Another law enforcement official, also speaking on condition of anonymity, said Lanza had been diagnosed with Asperger's, a mild form of autism often characterized by social awkwardness. People with the disorder are often highly intelligent. While they can become frustrated more easily, there is no evidence of a link between Asperger's and violent behavior, experts say.


The law enforcement officials insisted on anonymity because they were not authorized to discuss the unfolding investigation.


Richard Novia, the school district's head of security until 2008, who also served as adviser for the school technology club, of which Lanza was a member, said he clearly "had some disabilities."


"If that boy would've burned himself, he would not have known it or felt it physically," Novia said in a phone interview. "It was my job to pay close attention to that."


Amid the confusion and sorrow, stories of heroism emerged, including an account of Hochsprung, 47, and the school psychologist, Mary Sherlach, 56, rushing toward Lanza in an attempt to stop him. Both died.


There was also 27-year-old teacher Victoria Soto, whose name has been invoked as a portrait of selflessness and humanity among unfathomable evil. Investigators told relatives she was killed while shielding her first-graders from danger. She reportedly hid some students in a bathroom or closet, ensuring they were safe, a cousin, Jim Wiltsie, told ABC News.





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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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Butler upsets No. 1 Indiana 88-86 in OT


INDIANAPOLIS (AP) — All Butler guard Alex Barlow saw Saturday was space and an opportunity to make a play.


So the unlikeliest player on the floor took a chance and made the biggest shot of the game.


When Indiana's defenders failed to converge on the 5-foot-11 walk-on, Barlow kept right on going through the lane, drove to the basket and hit a spinning 6-foot jumper with 2.4 seconds left in overtime Saturday to give the Bulldogs another stunning upset — 88-86 over No. 1 Indiana in the Crossroads Classic.


"The floater is a shot I work on a lot and I happened to get a lucky bounce," Barlow said. "It was a good feeling."


Luckily for the Bulldogs (8-2), Barlow was on the floor.


The kid who spurned college scholarship offers to play his best sport, baseball, and opted to come to Butler for only one reason — to learn how to coach basketball from Brad Stevens — showed everyone he can hoop it up, too.


Stevens didn't hesitate to constantly keep the ball in Barlow's hands after three key Butler players had already fouled out. The sophomore who had scored only 12 points in nine games this season and 18 in his college career delivered with a series of key plays.


Barlow finished with a career-high six points, came up with a big steal that led to a go-ahead 3-pointer late in overtime and finally won it with a shot that bounced off the back of the rim, straight into the air and finally through the net.


Indiana (9-1) immediately called timeout to set up a play but could only muster Jordan Hulls' heave from near half-court, a shot that faded to the left of the basket and suddenly the first college in Indiana to go to back-to-back Final Fours had another school first — its first win in five tries over a No. 1 ranked team.


The sold-out arena roared as the game ended, and the Bulldogs rushed to midcourt where they celebrated with Barlow.


"I thought he just rose up over Hulls and it looked good," Stevens said. "Don't use this as an excuse to get down on Indiana. I still think they're the team to beat in April. Our guys just played really hard and when it really mattered, they figured out a way."


Butler (8-2) has now won six straight at Bankers Life Fieldhouse, better known as the home to the NBA's Pacers, and four of the last five when this series been played in Indianapolis. The Bulldogs have wins over Marquette of the Big East, North Carolina of the ACC and back-to-back victories over Northwestern and Indiana of the Big Ten.


And Barlow, the surprising star, overshadowed a supporting cast that had strong games, too.


Roosevelt Jones scored 16 points and matched his career-highs with 12 rebounds and six assists before fouling out with 2:03 left in regulation.


Andrew Smith finished with 12 points and nine rebounds and held national player of the year candidate Cody Zeller in check until fouling out just 17 seconds after Jones.


Rotnei Clarke, who transferred to Butler from Arkansas, scored 13 of his 19 points and made three of his five 3-pointers in the second half.


In all, five Bulldogs players finished in double figures while the defense held one of America's most proficient offenses to just 42.9 percent shooting from the field.


"We cost ourselves at the end of the game defensively," coach Tom Crean said after waiting more than an hour to take questions. "They made the plays, there's no question about that. But we made the mistakes on how we guarded them."


The Hoosiers were led by Cody Zeller, who had 18 points, including a layup to tie the score at 86 with 19.3 seconds left in overtime. Victor Oladipo also had 18 points and Will Sheehey scored 13 points off the bench.


But the Bulldogs grabbed 19 offensive rebounds and outrebounded Indiana — the first team to do that this season.


Clearly, this was not the same Indiana team that won its first nine games by an average of nearly 32 points while shooting 51.5 percent from the field.


"There's a lot of things," said Zeller, who had only five rebounds and four baskets. "We got outrebounded. There's a lot of little things that we have to figure, but we'll get back to work and figure them out."


The difference Saturday was that Butler never let the Hoosiers get away from them — even when Smith and Jones went to the bench with four fouls midway through the second half.


Stevens reinserted both players with 9 minutes to go in regulation, trailing 57-50, and the Bulldogs responded with a 12-0 run that gave them a 66-59 lead with 4:31 left in regulation.


Butler still led 71-64 when Jones fouled out, and the Hoosiers answered with five straight points from the free-throw line. They finally tied the score on Yogi Ferrell's 3-pointer from the right wing with 6.1 seconds to go, and Butler's Chase Stigall missed a 3-pointer off the front of the rim as time expired.


In overtime, Indiana looked like it would take control when Zeller's layup made it 84-80 with 2:12 to play.


But the Bulldogs again rallied, getting a 3 from Clarke, a steal from Barlow that led Stigall's 3-pointer, and Barlow's improbable winning shot.


"I just figured I would throw it up to the rim," Barlow said. "If I missed it, I knew they wouldn't get a shot off. Luckily, it bounced in."


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A children’s choir opens ‘SNL’ with ‘Silent Night’






NEW YORK (AP) — “Saturday Night Live” made a rare departure from its comedic opening to pay tribute to the children and adults killed at a Connecticut elementary school.


Not known for treating anything seriously or tenderly, the show made a fitting exception during the first moments of its show Saturday. Rather than the usual comedic sketch, a children’s choir appeared on camera and angelically sang “Silent Night,” with the touching refrain, “Sleep in heavenly peace.”






Then the members of the New York City Children’s Chorus shouted out the NBC show’s time-honored introduction: “Live from New York, it’s ‘Saturday Night!’”


It was the night’s sole reference to the tragedy and struck just the right tone.


Later, the chorus returned to join musical guest Paul McCartney in a rendition of his “Wonderful Christmas Time.”


Appearing in a sketch in an unbilled cameo, actor Samuel L. Jackson made a distinctive contribution of his own.


Pretending to be miffed at getting interrupted as a guest on the mock talk show “What Up with That?” Jackson said what sounded very much like an F-bomb, followed by the term sometimes shortened to “B.S.”


Playing the host of “What Up with That?” Kenan Thompson looked startled by Jackson’s vulgarities but kept going.


“C’mon, Sam. That costs money!” he quipped, cracking up the studio audience.


Moments after the show ended, Jackson tried to explain in a Twitter posting.


“I only said FUH,” he insisted, adding that Thompson was supposed to cut him off with his second eruption, but “blew it!!”


Jackson’s tweet was accompanied by a photo of himself looking mortified.


Besides Jackson, some of the stars dropping by for this special Christmas “SNL” included Alec Baldwin, Tom Hanks, Kristen Wiig, Jimmy Fallon and Tina Fey. The guest host was Martin Short.


___


Online: www.nbc.com


Entertainment 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


Read More..

A children's choir opens 'SNL' with 'Silent Night'


NEW YORK (AP) — "Saturday Night Live" made a rare departure from its comedic opening to pay tribute to the children and adults killed at a Connecticut elementary school.


Not known for treating anything seriously or tenderly, the show made a fitting exception during the first moments of its show Saturday. Rather than the usual comedic sketch, a children's choir appeared on camera and angelically sang "Silent Night," with the touching refrain, "Sleep in heavenly peace."


Then the members of the New York City Children's Chorus shouted out the NBC show's time-honored introduction: "Live from New York, it's 'Saturday Night!'"


It was the night's sole reference to the tragedy and struck just the right tone.


Later, the chorus returned to join musical guest Paul McCartney in a rendition of his "Wonderful Christmas Time."


Appearing in a sketch in an unbilled cameo, actor Samuel L. Jackson made a distinctive contribution of his own.


Pretending to be miffed at getting interrupted as a guest on the mock talk show "What Up with That?" Jackson said what sounded very much like an F-bomb, followed by the term sometimes shortened to "B.S."


Playing the host of "What Up with That?" Kenan Thompson looked startled by Jackson's vulgarities but kept going.


"C'mon, Sam. That costs money!" he quipped, cracking up the studio audience.


Moments after the show ended, Jackson tried to explain in a Twitter posting.


"I only said FUH," he insisted, adding that Thompson was supposed to cut him off with his second eruption, but "blew it!!"


Jackson's tweet was accompanied by a photo of himself looking mortified.


Besides Jackson, some of the stars dropping by for this special Christmas "SNL" included Alec Baldwin, Tom Hanks, Kristen Wiig, Jimmy Fallon and Tina Fey. The guest host was Martin Short.


___


Online: www.nbc.com


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Greener planet is goal for 3 startups









If the glut of companies billing themselves as "solutions" providers is any indication, the world has no shortage of problems.


Green tech companies take on some of the most complicated, difficult problems to solve. They tend to be problems created by our mere existence, chief among them our massive demand for energy. The more we rely on energy to power our electronics, our vehicles and our lives, the more pollution we churn into our land, water and air.


The Tribune checked in with three local green tech startups at various stages of development. They haven't changed the world yet, but they're working on it.





COMPANY: LanzaTech


PROBLEM TO BE SOLVED: Global warming, a huge challenge as energy demand is expected to double within 40 years.


FUNDS RAISED: $100 million


It may sound like sci-fi, but LanzaTech produces gas-eating "bugs" that don't require oxygen to survive.


In April, the company's microscopic bacteria began ingesting carbon monoxide from a steel mill in China. Carbon monoxide goes in one end of the bacteria and ethanol comes out the other.


With a few genetic tweaks, the bug can produce a wide range of fuels and chemicals from gases that companies spend money to get rid of. The idea, says Jennifer Holmgren, the company's chief executive, is to trap nasty gases that float from steel mills, power plants and chemical factories, turning them into products that are useful and profitable.


The company recently inked a deal with Petronas, the national oil company of Malaysia, to develop a modified version of the bug that takes in carbon dioxide and produces acetic acid, a chemical companies need to produce polymers used in plastics.


"Rather than trying to sequester carbon deep into the earth, we will 'bury' it in a chemical," Holmgren said. "In this way, companies can not only comply with emissions reduction requirements, but also generate revenue along the way."


When Holmgren talks about the technology's potential, she pulls up a map of the world, showing partnerships and agreements the company has with companies from Boeing Co. in Chicago and Kansas-based Invista, the world's largest nylon producer, to Indian Oil Co. in New Delhi and Mitsui & Co. Ltd. in Japan.


Out of the company's various projects, the carbon monoxide-eating bacteria are the furthest along in the path toward commercialization. This month, LanzaTech finished a demonstration project for China's largest steel manufacturer, Baosteel, at a plant near Shanghai.


LanzaTech successfully produced the equivalent of more than 100,000 gallons of ethanol per year from just a fraction of the carbon monoxide the company creates in the steel-making process.


"You're literally driving for miles watching this steel mill," Holmgren said, explaining its vast size — and its potential to produce hundreds of millions of gallons of ethanol per year.


The technology creates a financial incentive to trap the gas rather than flare it, a common practice that produces carbon dioxide, which contributes to global warming. Through a series of pipes, the gas enters a vessel filled with the organism, which is floating in water. Fuel comes out the back end and is pumped through a distiller to create pure ethanol.


Because of the success of that demonstration, the steel company has ordered the first of what will eventually be three or four units, each about $80 million, that are each expected to produce 30 million to 50 million gallons of ethanol per year. Each unit pays itself back in under five years, Holmgren said.


"We don't want it to be green for green's sake. If it is, no one is going to use it," she said.


With 140 employees worldwide, LanzaTech doesn't have any revenues to report yet. Holmgren said LanzaTech expects to grow to profitability between 2013 and 2015.


COMPANY: Hybrid Electric Vehicle Technologies LLC





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Obama: 'We've been through this too many times'












A man killed his mother at their home and then opened fire Friday inside an elementary school, massacring 26 people, including 20 children, as youngsters cowered in fear to the sound of gunshots reverberating through the building and screams echoing over the intercom.

The 20-year-old killer, carrying at least two handguns, committed suicide at the school, bringing the death toll to 28, authorities said.









The rampage, coming less than two weeks before Christmas, was the nation's second-deadliest school shooting, exceeded only by the Virginia Tech massacre that claimed 33 lives in 2007.

"Our hearts are broken today," a tearful President Barack Obama, struggling to maintain his composure, said at the White House. He called for "meaningful action" to prevent such shootings, saying, "As a country, we have been through this too many times."

Police shed no light on the motive for the attack. The gunman, Adam Lanza, was believed to suffer from a personality disorder and lived with his mother, said a law enforcement official who was briefed on the investigation but was not authorized to discuss it.

Panicked parents looking for their children raced to Sandy Hook Elementary in Newtown, a prosperous New England community of about 27,000 people 60 miles northeast of New York City. Police told youngsters at the kindergarten-through-fourth-grade school to close their eyes as they were led from the building so that they wouldn't see the blood and broken glass.

Schoolchildren -- some crying, others looking frightened -- were escorted through a parking lot in a line, hands on each other's shoulders.

Law enforcement officials speaking on condition of anonymity said Lanza shot his mother, Nancy Lanza, then drove to the school in her car with at least three guns, including a high-powered rifle that he apparently left in the back of the vehicle, and shot up two classrooms around 9:30 a.m.

A custodian ran through the halls, warning of a gunman on the loose, and someone switched on the intercom, alerting people in the building to the attack -- and perhaps saving many lives -- by letting them hear the hysteria going on in the school office, a teacher said. Teachers locked their doors and ordered children to huddle in a corner or hide in closets as shots echoed through the building.

Authorities gave no details on exactly how the attack unfolded, but police radio traffic indicated the shooting lasted only a few minutes. State police Lt. Paul Vance said officers arrived instantaneously, immediately entered the school, searched it completely and found Lanza dead.

In addition to the 20 children, six adults were killed at the school; the principal was believed to be among the dead. A woman who worked at Sandy Hook Elementary was wounded.

A law enforcement official speaking on condition of anonymity said investigators believe Lanza attended the school several years ago but appeared to have no recent connection to the place.

At least one parent said Lanza's mother was a substitute teacher there. But her name did not appear on a staff list. And the law enforcement official said investigators were unable to establish any connection so far between her and the school.

Lanza's older brother, 24-year-old Ryan, of Hoboken, N.J., was being questioned, but a law enforcement official said he was not believed to have had a role in the rampage. Investigators were searching his computers and phone records, but he told law enforcement he had not been in touch with his brother since about 2010.

The officials spoke on the condition of anonymity because they were not authorized to discuss the unfolding investigation.

At one point, a law enforcement official mistakenly identified the gunman as Ryan Lanza. Brett Wilshe, a friend of Ryan Lanza's, said Lanza told him the gunman may have had his identification. Ryan Lanza apparently posted Facebook page updates Friday afternoon that read, "It wasn't me" and "I was at work."

Robert Licata said his 6-year-old son was in class when the gunman burst in and shot the teacher. "That's when my son grabbed a bunch of his friends and ran out the door," he said. "He was very brave. He waited for his friends."

He said the shooter didn't utter a word.

Stephen Delgiadice said his 8-year-old daughter heard two big bangs. Teachers told her to get in a corner, he said. "It's alarming, especially in Newtown, Connecticut, which we always thought was the safest place in America," he said. His daughter was uninjured.

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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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