General electric

Led by Senator Al Franken, lawmakers Thursday clashed with top execs at Comcast and NBC Universal over their claim that the media giants' merger would benefit the public. Despite calling for "strong conditions," legislators seemed likely to let the deal go through.

During Congressional testimony Thursday, top executives from Comcast and NBC Universal pledged to restore the luster of the beleaguered Peacock Network, which has suffered through low ratings, a dearth of hit shows, and most recently, the Leno-Conan debacle.

Comcast is the Rodney Dangerfield of media companies. Yesterday, the Philadelphia firm reported that fourth-quarter earnings more than doubled. How did Wall Street respond? It sent Comcast's shares down.

Top executives from Comcast (CMCSA), the nation's largest cable company, and NBC Universal, the storied entertainment giant, are set to appear Thursday before Congress, as lawmakers and regulators examine the companies' proposed $30 billion new-media mega-merger.

NBC's Today is featuring real-life surgeries this week in its "Inside the O.R." series. Though questionable in taste and purpose, the timing couldn't have been better for the February sweeps period that starts tomorrow and runs to March 3.

The cable giant tells the federal government that its proposed merger with NBC Universal will benefit the public. That claim was immediately denounced by critics, including one consumer advocacy group that called the argument "positively Orwellian."

If sticking your foot in your mouth was an Olympic sport, the MSNBC blowhard would surely be a gold medalist. During last night's State of the Union, the Hardball host praised President Obama's performance, saying "I forgot he was black tonight for an hour." He later "clarified" his statement, saying he meant Obama has transcended race. Really?

GE beat earnings expectations in Q4 and 2009, with increased orders pointing to better performance in 2010. Equally significant, conditions in GE's Capital Finance unit appear to be stabilizing.

The following is a round-up of news likely to affect stock prices today:

General Electric Co. (GE) fourth-quarter earnings dropped 19% to $2.94 billion, or 28 cents per share. Results still beat Wall Street earnings estimates of 26 cents per share. The company's finance unit, GE Capital, managed a modest profit in the quarter. Shares rose over 1% in early premarket action.

Conglomerate General Electric, considered an economic bellwether by many experts, says its profit declined 19 percent over the last quarter, but still managed to top Wall Street expectations.