UPDATE 1-'The Hobbit' tops 'Anchorman' sequel at weekend box office

LOS ANGELES/NEW YORK, Dec 22 (Reuters) - The dwarves and hobbits of "The Hobbit: The Desolation of Smaug" proved too much for the much-publicized sequel "Anchorman 2: The Legend Continues," as the hit fantasy film topped movie charts in the United States and Canada for a second straight week, earning $31.5 million over the weekend.