General Electric Co. (GE) is gaining 4 percent to $23.47 and Comcast Corp. (CMCSA) is up percent 8 to $42.05. GE agreed to sell its remaining 49 percent common equity stake in the NBCUniversal joint venture to Comcast for $16.7 billion. Also, NBCUniversal will purchase the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC's headquarters in Englewood Cliffs for approximately $1.4 billion. GE also raised its share repurchase authority to $35 billion. GE said it does not expect this transaction to materially impact the overall earnings framework for 2013.
Groupon, Inc. (GRPN) is rising more than 6 percent to $5.63.
Netflix, Inc. (NFLX) is up 2 percent to $181.50.
Deere & Co. (DE) is down 0.30 percent to $93.70. The company's first quarter profit improved from the year-ago quarter and was above Wall Street view. Worldwide net sales and revenues rose 10 percent. The company raised its fiscal 2013 profit forecast and also expects equipment sales to increase by about 6 percent.
Citi Trends, Inc. (CTRN) is falling over 13 percent to $11.60. The company expects to report a loss in its fourth quarter. Total sales for quarter decreased 1.5 percent, while comparable store sales decreased 11.8 percent. The company noted that largest impact on its comparable store sales was the delay by the Internal Revenue Service of 2012 tax refunds. Citi Trends also announced that it remains cautious on its outlook for the first quarter.
AVEO Pharmaceuticals, Inc. (AVEO) is down 10 percent to $7.06. The company's fourth quarter net loss narrowed from the year-ago quarter, primarily due to a milestone from Astellas recognized upon the acceptance of NDA filing. The company also announced overall survival for tivozanib from the Phase 3 TIVO-1 study in patients with advanced renal cell carcinoma. The final OS analysis, as specified by the protocol, shows a median OS of 28.8 months for tivozanib versus a median OS of 29.3 months for the comparator arm, sorafenib. No statistical difference between the two arms was observed.
by RTT Staff Writer
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