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

Top News »

Editors' Picks »

Most Popular »

Business »

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

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

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)

Images of August Images of August

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

"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)

Oddly Enough »

Giant rubber duck on show in Shanghai Giant rubber duck on show in Shanghai

Thu, 23 Oct, 2014 - (1:06)

Black bear cub goes Sunday shopping Black bear cub goes Sunday shopping

Thu, 23 Oct, 2014 - (0:27)

Christie's opens new Shanghai office Christie's opens new Shanghai office

Wed, 22 Oct, 2014 - (1:13)

White lion cubs unveiled to the public White lion cubs unveiled to the public

Tue, 21 Oct, 2014 - (1:01)

Ebola Halloween getup stirs controversy Ebola Halloween getup stirs controversy

Tue, 21 Oct, 2014 - (1:14)

Cuddly Ebola toy almost wiped out Cuddly Ebola toy almost wiped out

Mon, 20 Oct, 2014 - (0:34)

New MoMA exhibit cut out for Matisse New MoMA exhibit cut out for Matisse

Thu, 16 Oct, 2014 - (1:28)

London's Frieze art fair tests your senses London's Frieze art fair tests your senses

Thu, 16 Oct, 2014 - (1:28)

Paris streets become gallery for Plato-inspired sculptures Paris streets become gallery for...

Wed, 15 Oct, 2014 - (1:21)

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)