MARKET PULSE-Time Warner, Orbitz Worldwide, PepsiCo, Skechers
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks opened lower on Thursday, weighed by a disappointing outlook from Cisco Systems and weaker-than-expected data on consumer spending and the labor market. The Dow Jones industrial average was down 0.38 percent at 15,904.01, the S&P 500 was down 0.30 percent at 1,813.83 and the Nasdaq Composite was down 0.17 percent at 4,194.313.
** COMCAST CORP, $53.565, -3.03 pct
** TIME WARNER CABLE INC, $144.97, +7.14 pct
** CHARTER COMMUNICATIONS INC $128.6, -6.52 pct
Comcast Corp said on Thursday that it would buy Time Warner Cable for $45.2 billion in an all-stock deal that combines the two largest U.S. cable operators. The friendly takeover comes as a surprise after months of public pursuit of Time Warner by smaller rival Charter Communications.
** CISCO SYSTEMS INC, $22.005, -3.70 pct
The network gear maker forecast on Wednesday a 6-8 percent revenue slide this quarter, underlining its struggle to rekindle demand in emerging markets like China, even as hardware spending sags globally.