Talks between Comcast Corp and Charter Communications, Inc. (NASDAQ:CHTR) over how they could together buy Time Warner Cable Inc quickly soured as the two bickered over price and the feasibility of engineering a split of the No. 2 U.S. cable operator. Charter, backed by billionaire John Malone’s Liberty Media Corp, had been pursuing Time Warner for months, but was not making any headway as its larger rival – nearly three times its size by market value – asked for $8 billion more than what it had offered. Charter Communications, Inc. (NASDAQ:CHTR) stock opened at $124.94 in last trading session, and closed at $128.91, trading in the range of $124.76 – $130.00. The stock showed a negative weekly performance of -5.56%.
Comcast will purchase Time Warner Inc (NYSE:TWX) in a deal that combines the nation’s top two cable TV companies. The deal will cost Comcast about $45.2 billion and will create a dominant force in creating and delivering entertainment. The all-stock deal, which was approved by the boards of both companies, trumps a proposal from Charter Communications to buy Time Warner Cable for about $38 billion. It is expected to close by the end of the year, pending shareholder and regulatory approvals. Time Warner Inc (NYSE:TWX) shares closed at $64.60 on last trade day, by losing -0.71%. Stock 52 week range is $51.62 – $70.77. Company’s market capitalization is $57.82 billion.
Cisco Systems, Inc. (NASDAQ:CSCO) forecast sales for the fiscal third quarter that may miss some analysts’ estimates amid weakness in emerging markets and a slump in demand from telecommunications-service providers. Revenue will decline 6 percent to 8 percent in the current period ending in April, the San Jose, California-based company said on a conference call yesterday. That indicates sales of $11.2 billion to $11.5 billion, while analysts projected $11.3 billion on average, according to data compiled by Bloomberg. The shares fell in extended trading. Cisco Systems, Inc. (NASDAQ:CSCO) stock decreased -2.54% and finished the last session at $22.27. The EPS of the stock remained 1.51. Company’s market capitalization is $119.07 billion.
Twitter Inc (NYSE:TWTR), the microblogging service whose shares have more than doubled since its November initial public offering, will give insiders the first chance to sell their stock tomorrow. As many as 9.87 million of non-executive employees’ shares will become eligible for sale as agreements that locked them up after the IPO expire, according to filings with the U.S. Securities and Exchange Commission. That would boost the number of shares available for trading by 12 percent to about 90 million, according to data compiled by Bloomberg. More stock will start to become available for trading in May. Twitter Inc (NYSE:TWTR) stock opened at $56.07 in last trading session and closed at $56.47. The 52 week range of the stock is $38.80 – $74.73 and the day range was $55.46 – $58.98.