Street Ends Mixed as Comcast Clinches NBCUniversal Deal (CMCSA, NTAP)
Despite today's drop for the Dow, the major indices continue to push toward record levels in 2013. A big deal came from Comcast (CMCSA) and General Electric (GE) for the sale of NBCUniversal to Comcast for $16.7 billion, sending both companies' shares higher. Also down for the day were McDonald's (MCD) as well as Dean Foods Co. (DF) who declined despite reporting a Q4 profit.Groupon (GRPN) gained 6.7% after its stock was upgraded from "neutral" to "buy." After the bell, both NetApp (NTAP) and Cisco (CSCO) saw gains and beat Street expectations. Trading in global markets was volatile on Wednesday due to mixed messages that came from a G7 meeting. Many await further comments about currency trading at the G20 meeting in Moscow on Friday. Late last night President Obama gave a State of the Union address and called for an increase in the minimum wage and infrastructure spending, and asked lawmakers to compromise on the looming spending cuts set for March 1.
Word on the Street
- In January, retail sales increased for the third consecutive month and match the median forecast.
- Global markets become volatile on G7 statements and ahead of G20 meeting.
- McDonald's (MCD) drags down the Dow on Wednesday
- Deere & Co (DE) reports concerns over performance and future corn market.
- Shares rise almost 32% after the bell for NetApp (NTAP) on earnings news.
- Dean Foods Co (DF) saw shares fall after releasing expectations of lower milk volumes in 2013.
- Gold futures drop to the lowest level since late August ahead of this week's G20 meeting.
- Comcast (CMCSA) clinches deal for control of NBC Universale for $16.7 billion.
Published on Feb 13, 2013By InvestorGuide Staff