Reuters - Video

EDITION: U.S. | U.K. | IN

Top News

Cable trips Disney; Zynga struggles

Tuesday, February 05, 2013 - 01:48

Feb 05 - Summary of business headlines: Walt Disney beats forecast thanks to improvement in its broadcast TV networks; Zynga outlook a zinger; Dell goes private; DOJ launches $5 billion lawsuit against S&P; Stable growth in U.S. services sector. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

Wall Street followed up the biggest loss of the year with the third biggest gain of the year thanks to earnings from cosmetics firm Estee Lauder. The Dow closed just shy of a triple-digit rally. The S&P 500 regained the 1500 and the Nasdaq clawed back 40 points. After the bell, Dow component Walt Disney topped sales and profit forecasts. Income from its cable business was down as costs for sports programming at its ESPN unit rise, but that was offset by a jump at the broadcast division. Revenues from the parks segment were strong enough to compensate for a drop in business at its studios. Zynga results were not as bad as feared but the social gaming company gave an outlook for the current quarter that needed an extra life. Dell officially announced its plans to go private in the biggest leveraged buyout deal since the recent financial crisis. Founder Michael Dell led the charge with help from Microsoft and private equity firm Silver Lake Partners. Shares of the world's No. 3 computer maker rose on the $24.4 billion deal, a 24% premium from the share price before the move was announced. The Justice Department outlined a $5 billion civil lawsuit against Standard & Poor's accusing the ratings service of defrauding investors leading up to the mortgage meltdown. Shares of McGraw Hill slumped another 11 percent one day after the steepest fall since the 1987 crash. And in economic news- the services sector extended a three-year expansion. The Institute for Supply Management's non manufacturing index was down slightly, but at 55.2 still showed growth in January. In Europe, all arrows up on the major indexes as signs of economic recovery in the euro zone.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Cable trips Disney; Zynga struggles

Tuesday, February 05, 2013 - 01:48

Editors' Picks »

Oddly Enough »

Pillow fight record smashed Pillow fight record smashed

6:05pm BST - (0:58)

Never too old to fly a hot-air balloon Never too old to fly a hot-air balloon

Tue, 30 Sep, 2014 - (0:51)

Never too old to fly a hot-air balloon Never too old to fly a hot-air balloon

Tue, 30 Sep, 2014 - (0:51)

Brazilian artist grows bamboo to make instruments Brazilian artist grows bamboo to make...

Tue, 30 Sep, 2014 - (1:12)

Dogs hang ten Dogs hang ten

Tue, 30 Sep, 2014 - (0:28)

In the ink at the London Tattoo Convention In the ink at the London Tattoo Convention

Mon, 29 Sep, 2014 - (1:01)

Gromit to go in Hong Kong Gromit to go in Hong Kong

Mon, 29 Sep, 2014 - (1:15)

Rare white waterbuck calf at San Diego Zoo Rare white waterbuck calf at San Diego Zoo

Mon, 29 Sep, 2014 - (0:38)

Weekly animal round up Weekly animal round up

Sun, 28 Sep, 2014 - (1:07)

Japanese company unveils robot cheerleaders Japanese company unveils robot cheerleaders

Thu, 25 Sep, 2014 - (1:09)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, 03 Jul, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, 20 Jun, 2014 - (3:04)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)