BUZZ-U.S. Stocks on the Move-Time Warner, ZipRealty, AMSC, iCad
(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. stocks advanced on Wednesday and the Dow surged to a new intraday high, buoyed by the latest merger news, as investors sorted through the latest batch of corporate earnings. The Dow Jones industrial average was up 0.44 percent at 17,136.53 and the S&P 500 was up 0.41 percent at 1,981.46.
** TIME WARNER INC, $83.26, +17.25 pct
** TWENTY-FIRST CENTURY FOX INC, $33.59, -4.55 pct
Rupert Murdoch's 21st Century Fox said it made a bid to buy media conglomerate Time Warner Inc 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.
** ZIPREALTY INC, $6.705, +121.98 pct
The real estate information provider said on Tuesday that Realogy Holdings Corp RLGY.N, which provides Internet-based residential real estate services, agreed to buy it for about $166 million. The deal is expected to close in third quarter of 2014.