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.

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  • Currencies
    Currencies
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    1.34860.000.00%
    USDSGD=X
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    SGDHKD=X
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    SGDMYR=X
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    SGDIDR=X
    4.6018+0.0013+0.03%
    SGDCNY=X
    1.0190-0.0102-0.99%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,167.20+3.70+0.32%
    GCQ15.CMX
    15.64+0.07+0.47%
    SIU15.CMX
    62.65+1.28+2.08%
    ^XAU
    2.64+0.01+0.48%
    HGU15.CMX
    56.56-0.37-0.65%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.65-0.06
    ^FVX
    2.39-0.02
    ^TNX
    3.190.00
    ^TYX

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    Most Actives
    NamePriceChange% Chg
    0.156-0.009-5.45%
    5DN.SI
    0.300.000.00%
    5WA.SI
    0.855+0.005+0.59%
    N03.SI
    0.43-0.03-6.52%
    P15.SI
    0.189+0.001+0.53%
    5MC.SI
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    % Gainers
    NamePriceChange% Chg
    0.55+0.09+20.88%
    BAJ.SI
    0.139+0.022+18.80%
    D3W.SI
    0.215+0.031+16.85%
    AZR.SI
    0.55+0.05+10.00%
    BAI.SI
    0.25+0.02+8.70%
    AZW.SI
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    % Losers
    NamePriceChange% Chg
    0.06-0.06-50.00%
    5TW.SI
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    40R.SI
    0.24-0.07-22.58%
    PA3.SI
    0.31-0.09-22.50%
    AVW.SI
    0.40-0.07-15.79%
    I85.SI