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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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3750-0.0014-0.10%
    USDSGD=X
    1.4774-0.0125-0.84%
    EURSGD=X
    2.0336-0.004-0.20%
    GBPSGD=X
    87.3641+0.0748+0.09%
    SGDJPY=X
    5.6400+0.0058+0.10%
    SGDHKD=X
    2.6916-0.0063-0.23%
    SGDMYR=X
    9,508.7461-7.751-0.08%
    SGDIDR=X
    4.5079-0.0034-0.08%
    SGDCNY=X
    1.0463-0.0069-0.65%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,178.80-6.00-0.51%
    GCJ15.CMX
    16.50-0.17-1.01%
    SIK15.CMX
    66.52-1.21-1.78%
    ^XAU
    2.76-0.02-0.72%
    HGK15.CMX
    47.81-0.87-1.79%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.420.00
    ^FVX
    1.96+0.01
    ^TNX
    2.56+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.2850.0000.00%
    5WA.SI
    0.132-0.002-1.49%
    E13.SI
    0.172+0.002+1.18%
    5GB.SI
    0.182+0.015+8.98%
    A50.SI
    0.42-0.02-3.45%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.15+0.04+36.36%
    5IF.SI
    0.169+0.019+12.67%
    5PI.SI
    0.182+0.015+8.98%
    A50.SI
    0.31+0.03+8.77%
    PA3.SI
    0.605+0.030+5.22%
    H17.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.11-0.03-23.61%
    5GF.SI
    0.106-0.023-17.83%
    H16.SI
    0.23-0.05-16.36%
    41H.SI
    0.22-0.03-12.00%
    O08.SI
    0.29-0.03-9.38%
    40U.SI