U.S. Morning Call: Comcast to buy rest of NBC from GE
Wednesday, February 13, 2013 - 03:56
Feb. 13 - Comcast is set to take full control of NBC Universal from General Electric for $16.7 billion.
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Good morning com home Wednesday it's a wrap for NBC and GE has Comcast steps -- to -- the network. Any seventeen billion dollar deal. Comcast is getting arrested the rock 30 Rock that is. Does not paying close out. No -- securities that Wall Street Journal reports says the remaining stake implies a multiple of about and I have times NBC's when he thirteen earnings. That's about 10% more expensive and the valuation appears like Viacom and Time Warner. But for G he this means more cash at this seventeen billion for this deal. To -- seven billion GE already had at the end of December and that -- CEO Jeff Immelt in it can't be spot. The company promptly said it would spend much of the money buying back ten billion -- shares this year. Comcast also saying it would increase its dividend by 20%. And buy back two billion in stock this year. Shares of Comcast up 10% in the premarket GE stock also edging up slightly before the open. Not to the earnings front. Before the -- we've got -- reporting 822%. Jump in quarterly profit on strong demand the company also raising its earnings forecast for 2013. -- generates two thirds of its revenue from the US and has been spending borrowed equipment development to compete in the global market with rivals like AGCO and CN NH. -- your stock rising 4% in the premarket. Dow heavyweights Cisco reporting after the bell analysts expect some results for the networking equipment maker. Which corporate North America and parts of your showing signs of improvement. MetLife also reports after the close the largest US life insurer probably battered like its peers. By persistently low interest rates the company may also take the wraps up a long awaited plan to return cash to shareholders. Turn into the market the S&P 500 rising for the past six weeks today US stock futures are putting to a higher open. Following president Obama's state of the union speech. Obama once again vocal about closing higher taxes on the wealthy. He also proposed a fifty billion dollar spending plan to create jobs by rebuilding roads and bridges in terms of stocks. Alternate energy companies may see a bump today Obama renewing his pledge to tackle global war warming. Does stocks stand to lose the president vowing to pass gun control legislation that may mean bans on certain weapons and magazines. On the macro front the Commerce Department releases retail sales data for January that's expected to show a smaller rise as consumers dealt with smaller pay checks. On the back of recent tax hike. -- some stocks to watch starting with Yahoo! CEO homers and mayor saying her company's search partnership with Microsoft. Quite delivering a market share gains a revenue boost it had hoped for -- to tech companies entered into a ten year search partnership in 2010. Hoping their combined efforts to challenge Google's rain. That's search engine with more than a 66%. Share of the US market December. Microsoft with 16%. Share and Yahoo! at 12% shared the same month. We leave you with a Reuters exclusive. Asset manager Legg Mason making it official with its interim CEO Joseph Sullivan. Naming -- permanent chief executive. Formally sales -- the Baltimore firms all of it will continue to try and hope outflow of funds that has plagued the company for the past five years. Analysts to -- insider picks signaling to investors Legg Mason is less inclined to fix itself through radical reinvention. That's your Wednesday morning call remembered follow us on Twitter at Reuters Insider and get more about what his videos at twitter.com. Slash writers TV. I'm Lisa Bernhard this is right.
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