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February 13, 2013 at 11:35 AM EST
The Markets Now: Comcast Rallies After Buying Stake in NBC
Stocks moved higher following Comcast's (NASDAQ:CMCSA) $16 billion deal to buy General Electric's (NYSE:GE) 49% stake in NBC Universal. Comcast now has full ownership of NBC. Comcast shares rallied 6.16% to $41.38. In economic news the president urged Congress to act on raising the minimum wage from $7.25 in his State of the Union address. This was one of the more specific and surprising initiatives laid out in his speech. Retail sales increased 0.1% in January according to the Commerce Department generally meeting economist predictions. Retail sales were up 4.4% from 2012 however. While consumers spent more at grocery ...
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