Companies whose shares are expected to trade actively in today’s session are Comcast Corporation (NASDAQ:CMCSA), WellPoint, Inc. (NYSE:WLP), Bankrate Inc (NYSE:RATE), Cliffs Natural Resources Inc (NYSE:CLF), Rackspace Hosting, Inc. (NYSE:RAX) and BUFFALO WILD WINGS INC. (FRA:BWW).
Comcast Corporation (NASDAQ:CMCSA): The entertainment and communications products maker announced that it will acquire the remaining stake of NBCUniversal from General Electric Co., thus owning the entire the movie and TV company. Comcast is also purchasing CNBC’s headquarters building in Englewood Cliffs, and 30 Rockefeller Plaza from General Electric. The combined value of the acquisitions is $18.1 billion. Shares of Comcast rose 7.44 percent to $41.83 in early session.
In August, Mohnish Pabrai took part in Brown University's Value Investing Speaker Series, answering a series of questions from students. Q3 2021 hedge fund letters, conferences and more One of the topics he covered was the issue of finding cheap equities, a process the value investor has plenty of experience with. Cheap Stocks In the Read More
WellPoint, Inc. (NYSE:WLP): In an unexpected move, the health insurer appointed Joseph R. Swedish as its new chief executive officer. Swedish comes from the hospital industry, and he has never headed a public company. Earlier, he was the chief executive officer of Trinity Health. Swedish will replace interim CEO John Cannon on March 25. Shares of the company dipped 2.29 percent to $64.50 in early trading session.
Bankrate Inc (NYSE:RATE): The financial information provider continues to suffer from the transition in its insurance leads division. The company’s fourth quarter earnings plummeted amid lower revenues, falling short of analysts’ estimates. The company also issued a pessimistic guidance for 2013. Shares dipped 17.77 percent to $10.18 in early market trading.
Cliffs Natural Resources Inc (NYSE:CLF): The mining company posted a fourth quarter loss due to higher impairment charges and a decline in revenues. Shares dropped 15.05 percent to $31.33 in early trading.
Rackspace Hosting, Inc. (NYSE:RAX): The data center provider’s fourth quarter profits surged 19 percent, and revenues were stronger than expected because of increase in its customer base. However, revenues fell short of Wall Street’s estimates. Shares dipped 13.40 percent to $64.93.
BUFFALO WILD WINGS INC. (FRA:BWW): The company’s fourth quarter earnings jumped 22 percent. But the high chicken-wing prices overshadowed its healthy sales trends. The company said that sales from established restaurants are falling this quarter. Shares were down 4.7 percent yesterday in after-hours trading, but gained 6.89 percent to $61.02.