Diamonds and Dogs
Comcast (CMCSA) having a busy today. Comcast is trading up 3% after reporting better than expected earnings and a takeover bid for Filipino telecommunications and cable company, Sky. U.S. media group Comcast submitted a 22 billion pound ($30.7 billion) bid for Sky on Wednesday, prompting the European pay TV group to drop its support for a lower offer from Rupert Murdoch's Twenty-First Century Fox which included Disney.
General Dynamics (GD) not so dynamic today. The defense company is down 4% to a two month low following earnings. General Dynamic reported $2.65 per share, 17 cents better than expectations as revenues rose 0.8% year to $7.5 billion. The company's aerospace division, its biggest unit, reported a 12 percent drop in revenue due to lower deliveries of its larger cabin Gulfstream aircraft. The delivery delay of two Gulfstream jets was done at the request of the customers.