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.

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
    1.2525-0.0004-0.03%
    USDSGD=X
    1.7302-0.0004-0.02%
    EURSGD=X
    2.1028-0.0013-0.06%
    GBPSGD=X
    81.7729+0.0402+0.05%
    SGDJPY=X
    6.1911+0.0017+0.03%
    SGDHKD=X
    2.5852+0.0006+0.02%
    SGDMYR=X
    9,117.5479-33.6709-0.37%
    SGDIDR=X
    4.9695+0.0054+0.11%
    SGDCNY=X
    1.1690+0.0005+0.04%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,294.60-8.90-0.68%
    GCM14.CMX
    19.67+0.01+0.05%
    SIN14.CMX
    90.18-0.65-0.72%
    ^XAU
    3.04+0.02+0.51%
    HGK14.CMX
    104.59+0.83+0.80%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.73+0.08
    ^FVX
    2.72+0.08
    ^TNX
    3.52+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.115-0.002-1.71%
    B22.SI
    0.48+0.020+4.35%
    5GJ.SI
    2.27+0.090+4.13%
    5ME.SI
    2.190.0000.00%
    JS8.SI
    0.61+0.005+0.83%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.034+26.56%
    5GF.SI
    0.20+0.034+20.48%
    5WD.SI
    0.59+0.050+9.26%
    L5I.SI
    0.28+0.020+7.69%
    C33.SI
    0.215+0.015+7.50%
    5UE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.103-0.010-8.85%
    5OS.SI
    0.112-0.008-6.67%
    5RC.SI
    0.355-0.025-6.58%
    KJ9.SI
    0.215-0.015-6.52%
    F9M.SI
    0.29-0.020-6.45%
    5PC.SI