GE, Comcast surge after big NBCUniversal deal

General Electric and Comcast both surged in heavy trade Wednesday after their $18 billion deal over NBCUniversal, as markets closed mixed on an otherwise lackluster day.

Apparently unaffected by President Barack Obama's State of the Union speech late Tuesday -- in which he pressed for more middle class-friendly policies and argued against big spending cuts -- the Dow Jones Industrial Average finished down 35.79 points (0.26 percent) at 13,982.91.

The broad-based S&P 500 edged up 0.90 (0.06 percent) to 1,520.33, barely extending a five-year high reached Tuesday.

The tech-rich Nasdaq Composite climbed 10.39 points (0.33 percent) to 3,196.88.

Trade was strong in GE and Comcast, after Comcast agreed late Tuesday to buy joint-venture partner GE's 49 percent in entertainment group NBCUniversal for $18.1 billion, taking 100 percent control of the media giant.

Dow member GE shares added 3.6 percent while Comcast gained 3.0 percent.

Amazon gained 4.2 percent after it set a deal to supply programming from CBS Corp through its streaming entertainment services.

Rival Netflix added 4.7 percent, helped by its announcement of a contract to produce and stream an original children's series with Deamworks Animation.

BlackBerry -- the former Research in Motion -- lost nearly 8.0 percent, falling as a Gartner Survey showed that its third-ranked operating system lost market share in the 2012 fourth quarter, falling to 3.5 percent globally from 8.8 percent in the year-ago period.

Among companies reporting earnings, ThomsonReuters sank 2.3 percent after turning in fourth-quarter net earnings that slightly beat forecasts, but a five percent fall in revenue.

The company announced it would cut 2,500 jobs in its risk division by the end of the year as part of a cost-cutting drive.

Farm and construction equipment maker Deere dropped 3.5 percent despite its better-than-expected quarterly earnings; it forecast the industry as a whole would be flat this year.

Energy bar maker Cliffs Natural Resources plunged 20 percent after reporting a surprise fourth-quarter loss and slashing its dividend by 76 percent.

Bond prices fell. The yield on the 10-year US Treasury rose to 2.02 percent from 1.98 percent Tuesday while the 30-year increased to 3.22 percent from 3.19 percent. Bond prices and yields move inversely.

--

Did you know that you can get stories like this on the Yahoo mail app?
Download it here.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3477-0.0001-0.01%
    USDSGD=X
    1.4701-0.0002-0.01%
    EURSGD=X
    2.0612-0.0002-0.01%
    GBPSGD=X
    92.1345+0.0362+0.04%
    SGDJPY=X
    5.7533+0.0009+0.02%
    SGDHKD=X
    2.7144+0.0003+0.01%
    SGDMYR=X
    9,806.3418+1.0898+0.01%
    SGDIDR=X
    4.6015+0.0005+0.01%
    SGDCNY=X
    1.0301-0.0001-0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,190.50+1.70+0.14%
    GCQ15.CMX
    16.71+0.04+0.25%
    SIN15.CMX
    69.70-0.13-0.19%
    ^XAU
    2.73-0.04-1.34%
    HGN15.CMX
    60.52+2.50+4.31%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.47-0.04
    ^FVX
    2.10-0.03
    ^TNX
    2.85-0.04
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.795-0.015-1.85%
    N21.SI
    4.13+0.01+0.24%
    Z74.SI
    0.205-0.010-4.65%
    5GB.SI
    0.290.000.00%
    5WA.SI
    0.420.00+1.20%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.45+0.05+12.50%
    AWX.SI
    1.32+0.12+10.00%
    AYO.SI
    0.50+0.04+9.89%
    MN5.SI
    0.119+0.009+8.18%
    540.SI
    0.15+0.01+7.14%
    5MD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    1.24-0.56-31.11%
    AYC.SI
    0.139-0.041-22.78%
    40R.SI
    0.114-0.019-14.29%
    5UA.SI
    0.34-0.06-13.92%
    AWI.SI
    0.295-0.035-10.61%
    Y06.SI