Oracle sees third-quarter profit of 64 to 68 cents per share

 Oracle Corp, the world's No. 3 software maker, said it expects to report non-GAAP earnings per share of 64 cents to 68 cents in its fiscal third quarter.
Oracle forecast that third-quarter new software sales and cloud subscriptions sales will rise 3 percent to 13 percent from a year earlier.
The company said its sees third-quarter hardware products sales flat to down 10 percent from a year ago.
Chief Executive Larry Ellison said he expects hardware systems revenue to start growing from the fiscal fourth quarter.
Oracle President Mark Hurd said that Oracle is gaining share against SAP in Europe.

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Oracle beats outlook, shrugs off fiscal debate

Oracle beats outlook, shrugs off fiscal debate
Technology giant Oracle Corp said software sales growth will stay strong into the new year despite fears that there could be big tax hikes and U.S. government spending cuts that could cause a slump in spending by customers.
Shares of the world's No. 3 software maker rose 1.3 percent after it reported fiscal second-quarter revenue and earnings that surpassed Wall Street forecasts.
Oracle President Safra Catz told investors that businesses were still looking to spend money already allocated to 2012 technology budgets.
"Folks want to close deals," she told analysts on a conference call following the earnings release on Tuesday. There has been "no negative impact on pricing. Pricing remains very good for us."
Oracle said software sales would grow 3 to 13 percent this quarter, which runs through February. It expects fiscal third-quarter hardware products sales to be flat to down 10 percent from a year ago.
The company's software and hardware forecasts were roughly in line with Wall Street expectations, according to FBR Markets analyst Daniel Ives.
Oracle reported that software sales and cloud software subscriptions rose 17 percent from a year earlier to $2.4 billion in its fiscal second quarter ended November 30.
It had forecast that new software sales would climb 5 to 15 percent from a year earlier, when it last reported earnings on September 20.
"I would call it an early Christmas present," Ives said. "It's a positive sign for the overall technology sector."
Investors pay close attention to new software sales because they generate high-margin, long-term maintenance contracts and are an important gauge of the company's future profits.
Oracle posted a second-quarter profit, excluding items, of 64 cents per share, beating the average analyst forecast of 61 cents according to Thomson Reuters I/B/E/S.
Jefferies & Co analyst Ross MacMillan said Oracle's results are encouraging for other makers of business software, many of which end their quarter on December 31.
OFF A CLIFF
Some investors have worried that corporations would postpone spending on technology projects because of uncertainty over the year-end deadline for Congress and U.S. President Barack Obama to reach a compromise to thwart an automatic rise in tax rates and government spending cuts.
Failing to reach a deal, economists say, could lead to another U.S. recession. Catz said Oracle's customers are still spending on software.
"What's going on in Washington - I don't know who it's necessarily influencing today. But I can tell you, our customers have been spending money with us even here in December."
On Tuesday, Oracle forecast earnings per share in the current fiscal third quarter of 64 to 68 cents, excluding items. That was about level with an average forecast for 66 cents.
"It tells you that there's still money being spent by enterprises on software. It's not like the world has ground to a halt," MacMillan said.
The picture was not so bright for Oracle's troubled hardware division, which it acquired with its $5.6 billion purchase of Sun Microsystems in January 2010. The division's revenue has fallen every quarter since it closed that deal.
Hardware systems product sales fell 23 percent from a year earlier to $734 million. Oracle had forecast that hardware sales would drop between 8 and 18 percent.
Chief Executive Larry Ellison told analysts he expected hardware systems revenue to start growing in the fiscal fourth quarter which begins March 1.
Oracle shares rose to $33.30 in extended trade after closing at $32.88 on Nasdaq.

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BofA CEO: Fed wants bank to show consistent earnings

CHARLOTTE, North Carolina (Reuters) - Bank of America Corp needs to show the U.S. Federal Reserve it can produce consistent earnings as part of the annual process to gain permission to return more capital to shareholders, CEO Brian Moynihan said in an interview.
The second-largest U.S. bank is turning a profit in most of its main businesses, but it inherited costly legal problems when it acquired companies during the financial crisis, including subprime mortgage lender Countrywide Financial.
In the third quarter, Bank of America reported only a nominal profit after reaching a $2.4 billion settlement with investors to resolve claims it hid crucial information from shareholders when it bought investment bank Merrill Lynch & Co.
Moynihan declined to comment on whether the bank's capital plan, which is due to the Fed by January 7, will include any proposed share buybacks or increases in dividends. Moynihan suffered a major embarrassment in 2011 when the Fed rejected the bank's request to increase its quarterly dividend, which has been stuck at just one penny per share since the financial crisis.
The Fed has been evaluating capital plans as part of its supervision of bank holding companies and under provisions in the Dodd-Frank financial reform law. It is unclear whether the Fed would approve any request for an increased dividend or share buybacks next year. A Fed spokesperson declined to comment.
"The element that is sort of unique to us is the predictability of the earnings stream," Moynihan said in an interview in his Charlotte, North Carolina, office. "We are working to get through that."
Other banks have demonstrated their ability to earn money more consistently. JPMorgan Chase & Co's quarterly profit, for example, hasn't fallen below $3.7 billion in the past year, even as it has taken losses on disastrous credit derivative trades.
Investors and analysts are hopeful that Bank of America's legal problems will die down soon. Its stock price has more than doubled this year, partly on expectations that the bank will increase its dividend and buy back more stock after the Federal Reserve reviews its capital plans this spring.
Analysts at Atlantic Equities on Tuesday said they expect Bank of America to buy back $4 billion of its own shares in 2013 and $10 billion in 2014, which would be its first buybacks since 2007.
The bank has "made a lot of progress" on legal issues, Moynihan said, but he acknowledged that the company is still working through lawsuits and investor demands to buy back soured mortgages the bank sold off during the housing boom.
In recent weeks, the bank's dispute with insurer MBIA Inc over mortgage-related claims has heated up, with Bank of America filing a new lawsuit last week against the insurer. The legal tussle with MBIA has dragged on, even as Bank of America has worked out settlements with other insurers of mortgage-backed securities issued by Countrywide.
Moynihan said the bank will settle the MBIA dispute if it can reach an agreement that is reasonable for shareholders but otherwise it is ready to litigate the matter.
The bank's shares closed Tuesday at $11.35, up 3.2 percent for the day. The shares are the best performer in the Dow Jones industrial average this year, after falling the most in 2011.
HEALING
In an effort to improve earnings, Moynihan is aiming to cut costs by $8 billion annually by mid-2015 through a program called Project New BAC, including 30,000 layoffs that have been under way since September 2011. Bank of America had noninterest expenses of $76.5 billion in 2011.
In addition, Bank of America expects to eventually reduce costs in its unit that serves delinquent mortgage customers to about $500 million per quarter from about $3.4 billion in the third quarter. If delinquent mortgages continue to fall, that saving should be achieved in 2015, if not sooner, Moynihan said.

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Top UBS shareholder pins rebound hopes on private wealth

 UBS's wealth management business will help it bounce back from a $1.5 billion rap for rigging interest rates, one of its largest investors said, although fears of costly civil lawsuits could cast a pall over its shares for some time.
Paras Anand, European equities head at Fidelity Worldwide Investment, said legal action sparked by the Libor scandal posed an unpredictable threat to the bank's near-term earnings, even if its core private banking franchise escaped permanent harm.
"The big unknown factor is the civil litigation that could follow on as a result of this...That is one thing at the back of our minds that we have to be cognizant of," Anand said in an interview with Reuters.
"The issue for shareholders is the challenge of pricing that risk in. The potential costs are too unquantifiable and indeed, it's unclear as to whether they will actually manifest or not."
Switzerland's largest bank was hit with the fine on Wednesday after admitting to fraud, paying bribes to brokers and "pervasive" manipulation of global benchmark interest rates by dozens of its staff.
UBS shares were trading 1.3 percent higher at 9:01 a.m. ET, as investors looked forward to the end of a scandal-filled chapter in the bank's history and a renewed focus on managing cash on behalf of rich clients, rather than so-called 'casino' investment banking.
"There's clearly been a backlash against big faceless financial entities but a private bank has big personal relationships with its customers ... These kinds of institutions are surprisingly resilient," Anand said.
"We have seen some awful scandals in businesses much weaker than UBS and they manage to survive," he added.
Fidelity owns around 45 million shares in UBS, equivalent to around 1.2 percent of the bank, and is its fifth largest institutional owner excluding sovereign wealth funds, according to Thomson Reuters data.

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Manning, Peterson, Pagano: 2012 a year to remember

From Peyton Manning overcoming four neck surgeries to Adrian Peterson's rebound from a shredded knee to Chuck Pagano's fight with leukemia, this has been the Year of the Comeback in the NFL.
A season besmirched by tragedies, replacement officials and a bounty scandal also will go down as one in which some of the game's greats not only regained their old form but somehow surpassed it.
There are always feel-good stories about those who overcome long odds and broken bodies to regain at least a sliver of their past glory. This season provided an abundance of them.
When the season started, who could have expected Manning to recapture his MVP play so quickly with a new team? Or for Peterson to come back less than nine months after shredding his left knee. Or for Jamaal Charles to return better than ever after suffering a similar injury.
Then there's Pagano beating the biggest opponent of his life.
A year ago, Manning was in the midst of four neck operations to fix a nerve injury that had caused his right arm to atrophy and had sidelined him for an entire season. Soon, he would say a tearful farewell to Indianapolis, a city he'd put back on the NFL map, and hook up with John Elway in Denver.
Peterson's left knee was still swollen after he'd shredded it on Christmas Eve, an injury similar to the one Charles suffered earlier last season. Yet both would defy medicine and conventional wisdom alike to rebound as better runners than they were before getting hurt.
Pagano's fight started three months ago when it was disclosed he had cancer, forcing the first-year Colts coach to take time off for chemotherapy treatments. He returned to work this week, taking the reins from assistant Bruce Arians, who guided the team to a surprising playoff berth in his absence.
"When I asked for Bruce to take over, I asked for him to kick some you-know-what and to do great. Damn Bruce, you had to go and win nine games?" Pagano said. "Tough act to follow."
If all goes well at practice this week, Pagano will be on the sideline for the regular-season finale against Houston. That's a final tuneup for the AFC wild-card playoffs that nobody saw coming for the Colts so soon after cutting ties with Manning, who switched teams, coaches, cities and colors and didn't miss a beat in 2012.
Despite a new supporting cast and a 36-year-old body he insists continues to confound him, the quintessential quarterback has had one of the best seasons in his storied career. Manning set franchise or NFL records just about every week while completing 68 percent of his passes for 4,355 yards with 34 TDs and just 11 interceptions.
And yet, he insists he's not anything close to what he used to be, that all he can do is maximize what's left in a body that's been slowed by so many surgeons' scalpels, and trips around the sun.
"I know you don't believe me when I say this; I'm still learning about myself physically and what I can do, it's still the truth," Manning said after guiding Denver to its 10th straight win. "I still have things that are harder than they used to be, so (there's) things I have to work on from a rehab standpoint and a strength standpoint. That's just the way it is and maybe that's the way it's going to be from here on out, I don't know."
Maybe Manning's being modest, maybe he's suckering opponents into blitzing him more often so he can burn them again. Either way, it's a remarkable rebound for a man whose right arm was so weakened after one of his neck surgeries that he could hardly throw the football 15 yards.
Long before Manning ever dreamed he'd be wearing the orange-mane mustang on his helmet instead of the blue and white horseshoe, Manning met up with college buddy Todd Helton of the Colorado Rockies for a workout during last year's NFL lockout. They retreated to an indoor batting cage at Coors Field with a trainer in tow, and Manning's first pass nose-dived so badly that Helton told him to quit goofing around.
Manning wasn't messing with him. He was dead serious. His arm was shot, his future in football in doubt. A few days later, he underwent spinal fusion surgery and would miss the entire 2011 season.
If doctors had told him that was it, Manning said he would have called it a career without regret. But they gave him a bit of hope and that's all he needed to embark on his comeback in Colorado.
Coach John Fox, never one to lobby for awards, suggested this week that Manning deserves a fifth MVP honor for the numbers he's put up, the obstacles he's overcome, the shift of culture he's engineered.
Manning isn't interested in talking about MVPs or comeback awards. He just wants enough wins to get a shot at hoisting another Lombardi Trophy in New Orleans in six weeks.
Peterson, on the other hand, is unabashedly clear in his desire for some recognition after overcoming torn anterior cruciate and medial collateral ligaments in his left knee, requiring the kind of reconstructive surgery that usually turns dominant players into ordinary ones.
There's a long, long list of players who had shortened careers because of such injuries. But Peterson returned to the Vikings lineup less than nine months after his operation, and with a league-high 1,898 yards, he's 207 yards shy of Eric Dickerson's single-season record. He can topple it with another big game Sunday when Minnesota faces Green Bay with a playoff berth on the line for the Vikings.
With typical unflinching confidence, Peterson said in a recent interview with The Associated Press he's expecting to win the comeback award.
"I kind of have that in the bag, especially how I've been telling people I'm going to come back stronger and better than ever," he said.
Carrying the Vikings to the playoffs without a potent passing game in a league dominated by strong-armed, accurate quarterbacks would only burnish the credentials of this thoroughbred throwback.
In any other year, the zenith of comebacks might be that of Carolina linebacker Thomas Davis, who battled back from three torn right ACLs — in 2009, 2010 and 2011 — to be a major contributor to the Panthers this year. No player in NFL history has returned after tearing the same ACL three separate times.
Charles missed nearly all of 2011 with a torn left ACL. Yet the former All-Pro running back has run for 1,456 yards, the seventh-best season in franchise history. He can break his single-season-high set in 2010 with 12 yards against the Broncos on Sunday.
Charles ran for 226 yards last weekend, when he surpassed 750 career carries, which also qualifies him for the NFL record for yards per carry. Charles is averaging 5.82 yards on 770 attempts, which far surpasses the 5.22 yards that Hall of Famer Jim Brown averaged in 2,359 attempts from 1957-65.
Charles, Peterson and Davis are all better than ever. Manning might be, too, but he'll never say it.
"I'm trying to be as good as I can at this stage," Manning said. "A 36-year-old quarterback coming off a year and a-half off, playing on a new team, I'm trying to be as good as I possibly can in this scenario.
"It's a different kind of body I'm playing in and just a different kind of quarterback play for me."
Yet, as transcendent as ever.
"If he's lost anything, I can't see it," said Broncos receiver Brandon Stokley, who played with Manning in his prime in Indianapolis. "I'm sure in some ways he's better than he ever was. And he's always been great.

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Rondo leads Celtics past Nets 93-76

 Rajon Rondo lost his cool, and any chance at history, in the second quarter when Boston last met Brooklyn.
This time, the second period featured some of the best basketball the Celtics have played this season.
Rondo scored 19 points in his first full game against the Nets this season, and the Celtics won 93-76 on Tuesday in another game with some heated moments between the division rivals.
Rondo, sidelined in the first meeting and thrown out of the second after shoving Nets forward Kris Humphries into the courtside seats, outplayed counterpart Deron Williams and helped the Celtics take control early.
"We moved the ball; we rebounded the ball," Rondo said. "They beat us pretty bad on the glass, so tonight we did an exceptional job on the glass, taking care of the defensive rebounds, and we got stops."
A month after the teams scuffled in Boston, there was another skirmish in the fourth quarter that resulted in four technical fouls. But that was the most fight the Nets put up in a disappointing performance on the national stage of the Christmas opener. They were never in the game after the first 20 minutes, and their fans headed to the exits with under 2 minutes left as a "Let's go Celtics!" chant broke out.
"It was a big game for us. It was a division rival. We were ready for a big game. It just didn't happen," Williams said.
Rookie Jared Sullinger tied a career high with 16 points and Jeff Green had 15 for the Celtics (14-13), who avoided falling under .500 with just their second victory in six games.
The Celtics took control with a 23-5 run in the second quarter of the opener of their four-game road trip. They had 11 assists on 13 baskets and outscored the Nets 34-18 in the period after dropping the previous two meetings.
"It was good to get off to this start. It was good to finally play from start to finish, especially with the way we've been playing against Brooklyn," said Paul Pierce, who had just eight points on 3-of-10 shooting. "So it was a well-balanced game, but I'm happy with the start of the trip."
Gerald Wallace and Brook Lopez each scored 15 for the Nets, who have lost four of five. Struggling to find anything that worked, they played Lopez and fellow center Andray Blatche together with three guards at one point, but Brooklyn shot just 41 percent and committed 20 turnovers that led to 25 points.
Williams had only 10 points on 3-of-7 shooting and Joe Johnson, his partner in a high-priced backcourt, shot 4 of 14 for his 12 points.
"This one hurts. We didn't play our game. They beat us from the opening tip," Wallace said. "We didn't make shots. We turned the ball over too easy. Our defense just wasn't there tonight. We were not ourselves tonight."
Boston's Kevin Garnett had eight points and 10 rebounds on the day he tied Charles Oakley for 15th place on the NBA's career list with his 1,282nd game. He was also front and center when things got testy.
Wallace was fouled with 9:31 remaining and appeared to hold onto Garnett's uniform to balance himself and not fall. Garnett was fine with that but then objected to how long Wallace hung on to his shorts, and they said something to each other as they tried to push themselves free. That led to technical fouls on the two, along with Blatche and Courtney Lee.
Garnett said he asked Wallace what he was doing but got no response.
"I don't know where in America you can (yank) somebody's pants off, or shorts off. I don't know what the hell was going on," Garnett said.
Sullinger delivered a flagrant foul on Wallace a few minutes later, but there was nothing further.
In the Nets' Nov. 28 victory in Boston, Rondo, Humphries and Wallace were ejected.
It was the second quarter of that game where things got away from the Celtics, and Rondo's frustrations soon followed when he shoved Humphries after the Nets forward fouled Garnett. That ruined the point guard's chance to extend what was then a 37-game streak with double-digit assists, tied for second-longest ever, by finishing with three. He had five assists and six rebounds Tuesday.
This time, the second period belonged to the guys in green.
With the Celtics down three, Green had six points in a 10-0 run that made it 36-29. After Johnson's basket, Boston answered with a 13-3 spurt. Jason Terry made a 3-pointer before Rondo converted a three-point play to push the Celtics' lead to 49-34 with 3:56 to go.
The Celtics opened a 21-point lead early in the third quarter and cruised from there. Terry finished with 11 points.
Notes: As with everyone playing on Christmas, players, coaches and referees wore green ribbons in tribute to the families of Sandy Hook Elementary School. ... Humphries was out with an abdominal strain and will be re-evaluated after the Nets return from Milwaukee. He had mostly been a starter but then didn't play at all Sunday against Philadelphia. ... Feeling Avery Bradley isn't ready yet, Celtics coach Doc Rivers decided not to bring the guard on the road trip so he can continue working his way back from shoulder surgery in Boston. Rivers said the shoulder is strong but that Bradley has had only 2½ practices.

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Lakers beat Knicks 100-94 to get to .500

 The pieces of the puzzle that have been the Lakers' confounding season so far are starting to fall into place.
Kobe Bryant engineered a second-half comeback, the defense stepped up, and Los Angeles beat the New York Knicks 100-94 on Tuesday, extending its winning streak to five games.
"We're .500," a smiling Dwight Howard said. "We did it on Christmas, too. I knew this day would come."
Bryant scored 34 points in his NBA-record 15th Christmas Day game and Metta World Peace added 20 points and seven rebounds while defending Carmelo Anthony, whose 34 points led the Knicks. Anthony said he hyperextended his left knee, but expects to play on Wednesday in Phoenix.
Bryant, the league's leading scorer, has topped 30 or more points in nine straight games.
"If you're going to play on Christmas, it's always better to win. Makes it all worthwhile," said Bryant, who would soon hop a flight to Denver, getting there ahead of the Nuggets, who played the Clippers in the other half of the holiday doubleheader at Staples Center.
The Lakers improved to 14-14 — 9-9 under new coach Mike D'Antoni — and upped their holiday record to 21-18, including 13-9 at home. They returned to .500 for the first time since they were 8-8 on Nov. 30.
"It's so early in the season to have turned a corner," Bryant said. "We have everybody in the lineup and we're starting to see how we want to play."
The Knicks controlled most of the game behind Anthony and J.R. Smith, who had 24 points. But they struggled offensively in the fourth, when Anthony was limited to seven points and Smith had five as the Lakers' defense clamped down. World Peace fouled out with 1:58 to play and the Lakers ahead by four.
World Peace credited his defense on Anthony to "old-school basketball."
"I'm back in shape and it's a little tough to guard me," he said.
Steve Nash said: "This is what he's been doing all year. He gets his hands on a lot of balls, pounds on the other team's best guy. You can't win without that type of effort."
Smith's 3-pointer pulled New York to 96-94. After Pau Gasol made one of two free throws, Smith missed another 3 that would have tied the game at 97 with 32 seconds left.
"We missed a lot of easy shots, a lot of little chippers around the basket, shots that we normally make," Anthony said. "There were some plays that we thought should have went our way down the stretch, but for the most part, we fought. I'll take this effort any night. If we continue to play with this effort, we'll win a lot of games."
With Bryant double-teamed, Nash passed to Gasol, who dunked with 12 seconds to go, punctuating a win that sent Lakers fans, frustrated by the team's struggles and coaching change, home happy. The Lakers avenged a 116-107 loss in New York on Dec. 13.
A smiling Howard called Gasol's driving slam "a submarine dunk because he was very low to the ground."
Gasol responded, "I don't dunk as often as I used to so it felt good. I took it right down the lane and finished strong."
Nash had 16 points, 11 assists and six rebounds in his second game in nearly two months. He missed 24 straight games while recovering from a small fracture in his lower left leg. Howard had 14 points and 12 rebounds, and Gasol had 13 points and eight rebounds.
"It was an important win for us as we were a little bit desperate," Nash said. "We've gone through a lot since Mike Brown — new coach, new offense. It's been a difficult transition."
Bryant had eight of the Lakers' first 10 points to open the fourth during a run that provided their first lead since the opening quarter in a game matching the two teams that have played the most on Christmas Day.
They took the lead for good on Bryant's basket with 7:38 remaining. Anthony and Tyson Chandler were in foul trouble in the fourth, with Chandler fouling out late.
"They just were a little bit more aggressive," Anthony said. "Kobe got it going and Steve Nash hit some big shots down the stretch. When you have a guy like Nash doing that, it's kind of tough. Those guys know how to play. They've been waiting for Steve Nash to get back, so it's just a matter of then sticking it out until he did."
The Knicks opened the third on a 15-5 run, with Anthony setting up on the perimeter and hitting two 3-pointers as part of his 10 points that stretched their lead to 61-53. His jumper provided the Knicks' largest lead of the game, 69-60.
Bryant and Nash ignited the quiet atmosphere by leading a 17-9 run that drew the Lakers to 78-77 going into the fourth. They combined to score 15 points, although Bryant missed two free throws to end the third that would have given the Lakers their first lead since early in the game.
The Knicks' earlier roll dissolved in missed shots and a technical on Chandler for arguing a call.
"We were more determined, fought for everything," Nash said about the second half.
World Peace scored 16 points in the second quarter, including eight in a row, when the Lakers played catch-up most of the way. His 3-pointer gave the Lakers their first lead of the period with 1:10 remaining. Smith tied it up with a free throw before Nash's jumper sent the Lakers into halftime leading 51-49.
"We're playing really well together," World Peace said. "Kobe is really playing excellent now. He's still being aggressive on the offensive end, but he's giving everybody a chance to be aggressive. Pau is making strong, aggressive moves."
Bryant scored the Lakers' final nine points of the first quarter to give them a 25-23 lead. D'Antoni's plan of having Darius Morris guard Anthony didn't last long after he scored five of the Knicks' first seven points.
"I thought he'd get warmed up before he started firing," World Peace said.
NOTES: Bryant surpassed Oscar Robertson as the league's all-time Christmas Day scorer with 383 points. Robertson had 377. ... Knicks F/C Amare Stoudemire shot some before the game. He's been out all season after left knee surgery. "I'm not quite there yet, but I'm making progress," he said. "I've just got to stay patient and stay ready. We've been doing extremely intense work, as far as cardio." ... Knicks C Marcus Camby had four points and four rebounds in 8 minutes. He's been sidelined by a sore left foot and barely played this season. ... Asked about Bryant as an MVP candidate, D'Antoni said, "You can't put anybody MVP if you're below .500." ... In their only other Christmas Day meeting in 1963, the Lakers beat the Knicks 134-126 behind 47 points by Jerry West and 27 from Elgin Baylor. ... Nash said the gift bags in their lockers with the tag, "From Kobe Merry Xmas 2012" contained headphones. "Can't ever have enough," he said. ... The Lakers were all in white, while the Knicks were all in orange down to their socks in a color similar to Syracuse. ... Among the celebs holidaying at Staples Center were Rihanna and Chris Brown, Adam Levine, Samuel L. Jackson, George Lopez and Richard Lewis. Vanessa Bryant and her two young daughters sat courtside opposite the Lakers bench.

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