BUZZ-U.S. Stocks on the Move-Time Warner, Apple, IBM, Taiwan Semi
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock rose on Wednesday, led by tech shares after Intel's earnings and word of a partnership between IBM and Apple, while Time Warner Inc rallied on news it rebuffed a takeover attempt from Rupert Murdoch's Twenty-First Century Fox. The Dow Jones industrial average was up 0.27 percent at 17,107.53 and the S&P 500 was up 0.31 percent at 1,979.45.
** TIME WARNER INC, $83.84, +18.07 pct
** TWENTY-FIRST CENTURY FOX INC, $34.445, -2.12 pct
Rupert Murdoch's 21st Century Fox said it made a bid to buy media conglomerate Time Warner but was rebuffed. The bid was worth roughly $80 billion, or $85 per share in cash and stock, a source familiar with the situation told Reuters.
** INTERACTIVE INTELLIGENCE GROUP INC, $41.93, -16.11 pct
The telecom software maker said it expects second-quarter revenue below analysts' expectations as it deferred revenue from two sizable contracts and faced delays in signing several others. The company expects to report an adjusted operating loss of $6-$7 million for the quarter ended June 30. It had earlier forecast near-breakeven operations.