MARKET PULSE-Time Warner, Retrophin, PepsiCo, Drew, Goodyear
(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 advanced on Thursday, erasing earlier declines as investors discounted weaker-than-expected data on consumer spending and the labor market, but a disappointing outlook by Cisco Systems kept gains in check on each of the major indexes. The Dow Jones industrial average was up 0.34 percent at 16,017.82, the S&P 500 was up 0.46 percent at 1,827.56 and the Nasdaq Composite was up 0.67 percent at 4,229.548.
** COMCAST CORP, $53.0901, -3.89 pct
** TIME WARNER CABLE INC, $144.73, +6.96 pct
** CHARTER COMMUNICATIONS INC $128.96, -6.26 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, $21.99, -3.76 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.