Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, December 4, 2009

Article Excerpt

GENERAL ELECTRIC CO., $16.20, New York symbol GE, will pay Vivendi SA of France $5.8 billion for the 20% of NBC Universal that it doesn’t already own. The company will then merge NBC Universal with cable stations and regional sports networks owned by cable operator Comcast Corp. (Nasdaq symbol CMCSA). GE will retain 49% of the joint venture, and receive about $8 billion. To put these figures in context, GE earned $2.5 billion, or $0.22 a share, in the three months ended September 30, 2009. The deal should close by September 2010. Selling control of NBC Universal will let GE focus on its main industrial businesses. These include manufacturing aircraft engines and power-station equipment. The move also lowers GE’s exposure to falling television advertising revenue. However, the company’s financial division, which accounts for a third of its revenue, continues to struggle. GE is now a hold. STATE STREET CORP., $41.68, New York symbol STT, is paying an undisclosed sum for privately owned Mourant…