Comcast to pay $16.7 billion for GE's stake in NBC
Comcast Corp., the largest U.S. cable company, will buy out General Electric Co.'s stake in NBC Universal for $16.7 billion in cash. The deal also involves Comcast buying GE's 30 Rock building and CNBC's headquarters for $1.4 billion, the Philadelphia-based company said today. The enterprise value of NBC Universal is now $39.1 billion, up from $37.5 billion when Comcast bought a controlling stake in 2011. Comcast bought a 51 percent stake in NBC on Jan. 29 of that year for $13.8 billion in cash and assets.
BNY Mellon will take charge from foreign tax credits
Bank of New York Mellon said it would take an after-tax charge of $850 million in the first quarter after the U.S. Tax Court upheld an IRS decision to disallow certain foreign tax credits claimed for the 2001 and 2002 tax years. BNY Mellon said it would appeal. "We continue to believe the tax treatment of the transaction was consistent with statutory and judicial authority existing at the time," the company said in a statement.
ExOne sells all offered shares in IPO for $98.7 million
ExOne said it sold all 6.1 million shares offered during its initial public offering last week and raised $98.7 million before underwriting discounts and other expenses. The North Huntingdon advanced manufacturing company sold 5.5 million shares. Another 611,667 shares were offered by an affiliate of chairman and CEO S. Kent Rockwell. The offering was priced at $18 per share. ExOne shares closed Tuesday at $27.50, down $2.57.
Job openings drop in Dec. from four-year high
Job openings dropped in December from a more than four-year high, showing further progress in the labor market will be slow to develop. The number of positions waiting to be filled fell by 173,000 to 3.62 million, the fewest since September, from a revised 3.79 million the prior month that was the most since May 2008, the Labor Department said.
Goodyear tops expectations; Europe weighs on outlook
Goodyear topped Wall Street expectations for the fourth quarter, but shares slid Tuesday with Europe dragging down the tire maker's outlook for 2013. The Akron company cut its full-year outlook for 2013 segment operating income from $1.6 billion, to between $1.4 billion and $1.5 billion. The company said it will cut about 6 million tire units of high-cost capacity in Europe. In its core North American market, segment operating income was up $95 million to $116 million, with an emphasis on high-end tires helping offset a 5 percent drop in the number of tires sold.