MARKET PULSE-Retrophin, Cisco, PepsiCo, Cardiome, 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, putting the Nasdaq on track for a sixth straight day of gains as investors looked past disappointing data on consumer spending, chalking the weakness up to weather instead of weaker fundamentals. The Dow Jones industrial average was up 0.41 percent at 16,029.74, the S&P 500 was up 0.55 percent at 1,829.23 and the Nasdaq Composite was up 0.84 percent at 4236.48.
** COMCAST CORP, $53.05, -3.96 pct
** TIME WARNER CABLE INC, $144.57, +6.84 pct
** CHARTER COMMUNICATIONS INC $129, -6.23 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.
** RETROPHIN INC, $16.37, +53.28 pct
The drugmaker said it would buy privately held Manchester Pharmaceuticals, a specialty pharmaceutical company that focuses on treatments for rare diseases, for $62.5 million.
Manchester markets two drugs that are approved by the U.S. Food and Drug Administration - Chenodal, for use in patients suffering from gallstones, and Vecamyl, for managing hypertension and uncomplicated cases of malignant hypertension. Continued...