News Corp. is benefiting from its global diversity and a strong TV business, and it doesn't seem to be hurt by the U.S. economy's downturn. And now, investors are saying the stock is undervalued.
Rupert Murdoch's News Corp. said its quarterly net profit rose on higher advertising sales at the Fox TV network and Fox News Channel, as well as a one-time gain from its stock swap with Liberty Media.
Stocks declined as soaring oil prices triggered concerns about inflation and consumer spending.
News Corp raised its guidance earlier this year, so now the big question facing the company is whether, in the face of an economic slowdown, it'll be able to live up to those higher expectations.
On Monday, the first day of our on-air coverage following the collapse of the Microsoft/Yahoo negotiations, we were rife with speculation about what, if anything, Microsoft might do next. We talked about every possibility: News Corp. and Microsoft blending their online businesses with Microsoft relying heavily on the MySpace property;
The drip, drip of rising oil prices could start to wear on stocks, but traders point out that the market has been fairly resilient and is still raring to go higher.
Disney reports earnings Tuesday while News Corp reports Wednesday. Which company should you bet on?
Barely two hours into trading and Yahoo shares were on the decline in a big way, off about $4.50 a share, or almost 20 percent; while Microsoft shares are on the increase. Both stocks are well off their lows and highs of the morning, however, as investors try to figure out what they'll both do next. If anything. They will do something. But what?
Yahoo's shares tumbled after Microsoft withdrew its $47.5 billion takeover offer, wiping out about $7.6 billion in market value and piling pressure on its leadership, especially CEO Jerry Wang.
Now that Microsoft has withdrawn it's bid, the pressure is on Yahoo to prove it can revive its languishing stock price.
A chronology of events leading to Microsoft's decision to abandon its offer for Web search and advertising competitor Yahoo:
"We continue to believe that our proposed acquisition made sense for Microsoft, Yahoo! and the market as a whole," said Microsoft CEO Steve Ballmer.
Don't be surprised if some of the market's next moves will be to pull back a bit, as investors consider whether stocks are running too fast. But that said, there are still a lot of investors ready to load and fire when it comes to the stock market -- and there could be some healthy buying in the week ahead.
Microsoft, hoping to salvage a takeover of Yahoo, has reluctantly agreed to boost its offer to about $33 a share in cash and stock from $31, though Yahoo is holding out for $37, sources have told CNBC.
Cablevision Systems has made a $650 million bid for Tribune's Newsday newspaper, topping rival offers from media titans Rupert Murdoch and Mortimer Zuckerman, a source briefed on the matter said Friday.
Time Warner plans to split off its cable services division to lift its sluggish stock price as it also reported quarterly earnings Wednesday that fell just short of Wall Street's expectations.
With big media earnings due this week, find out what former Disney Chief Michael Eisner says every trader should know! That, plus our other "Trade Tomorrow" plays!
Hours away now from the Microsoft imposed deadline for Yahoo to negotiate or die. Too dramatic? Not really when you're talking about $40 billion hanging in the balance as well as the future dominance of all things digital.
Media companies, like the New York Times Company and News Corp, are facing a new set of challenges, and CNBC's Julia Boorstin takes an in-depth look.
Trading in managing editors at a venerable newspaper brings echoes of Torre.