Media Giant Earnings: Comcast, Time Warner, Viacom Report

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Jin Lee/Bloomberg
Three media giants are in the spotlight, and a drug maker wins a key ruling on a controversial contraceptive.

The S&P 500 edged up 4 points yesterday to another record high, wrapping up its sixth monthly gain in a row. The total gain during that time: 13 percent. The Dow Industrials and the Nasdaq both gained 21 points.

Comcast (CMCSA) says its quarterly net rose 17 percent from a year ago. The company was helped by some hefty price increases for its cable subscribers. Comcast is the nation's largest cable company and last year it acquired NBC Universal.

Rival Time Warner (TWX) says its net jumped 24 percent, easily beating Wall Street targets.
And Viacom's (VIA) net fell 18 percent, but still met expectations.

Mixed results from Merck (MRK): Its net fell but still slightly exceeded expectations. Sales were hurt by the expiration of some key patents, and the drug maker lowered its outlook for the rest of the year.

And the film studio DreamWorks Animation (DWA) posted a surprise profit, led by a strong showing by "The Croods."

After the close we'll hear from Facebook (FB).

Teva Pharmaceuticals (TEVA) won FDA approval to market its emergency contraceptive to women 15 and older, without requiring a prescription. This reversal by the FDA follows an order by a federal judge to make the so-called morning after pill more readily available.

A group of private equity companies, including Bain Capital, is reportedly the top bidder for BMC Software (BMC). Reuters says the group's offer is valued at more than $6.5 billion dollars.

An IPO for a real estate venture that includes the Empire State Building is a key step closer to happening. A judge says a share buyout proposal in the plan does not violate the law. The IPO could raise $1 billion dollars.

And we're not looking for any major shifts when Fed policymakers wrap up a two day meeting and release their statement this afternoon, but it could lead to some volatility.

–Produced by Drew Trachtenberg


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garyben1965

BUT WHATS EVEN MORE MESSED UP THERES YOUR TELPHONE COMPANYS UP HERE IN NJ ITS VERIZON THEY ROLLED OUT THERE FIOS THERE NO BETTER THE WAY THEY BEEN SELLING THEMSELFS YOU THINK THEM AND COMCAST WERE TOGETHER LIKE YAKES

May 01 2013 at 1:12 PM Report abuse -1 rate up rate down Reply
garyben1965

WHAT I DONT GET COMCAST IS THE LARGEST IN THE USA I LIVE IN UNION COUNTY NEW JERSEY WHICH HAS 21 MISAPALITYS ELIZABETH BEING COUNTY SEAT WHICH I NOW LIVE HAS CABLEVISION WHICH BRANDED NAME FALLS UNDER OPTIMUM ON LINE OPTIMUM TV I HAVE THERE GOLD PACKAGE FOR ALL 3 AND COMPARIE TO COMCAST ITS CHEAPER THE OTHER 20 MISPALITYS COMCAST AND EXPENCIVE EVEN MY PARENTS LIVE IN SARASOTA MY FOLKS ARE RETIRED OVER 20 YEARS THEY HAVE COMCAST DOWN THERE WHAT A RIP OFF

May 01 2013 at 1:04 PM Report abuse -1 rate up rate down Reply
Ralph

Ya COMMUNIST CAST makes their money off of the backs of it's customers,by charging outrageous rates for mostly garbage channels that nobody watches!

May 01 2013 at 12:25 PM Report abuse -1 rate up rate down Reply
bdgrizcp

Simply stated: Comcast is a monopoly masquerading as a public utility and they are stealing us blind.

May 01 2013 at 12:18 PM Report abuse rate up rate down Reply
gail

so happy for them...now they can celebrate by raising their very high rates once again and add even more channels that no one watches.

May 01 2013 at 12:11 PM Report abuse rate up rate down Reply
aeweidman

after years of attempting to get a fair shake from any of the paid services , I , several years ago stopped all of it and went back to rabbit ears. Strangely I find more and more of my friends have done the same when we discuss these things and we get our cable for our Computers from local low cost carriers, It may be a bit slower but the service is better , kinder, and does not crash as often and it's cheaper, Who would have guessed

May 01 2013 at 10:19 AM Report abuse rate up rate down Reply
Jim

Try Roku. Way cheaper than cable.

May 01 2013 at 10:17 AM Report abuse rate up rate down Reply
ead0347

Think its time for another rebate to all in their rates 400 stations and nothing on. .

May 01 2013 at 10:13 AM Report abuse +1 rate up rate down Reply
penrosecottage

They will always make a very large profit, in most cities there the only game in town, they charge what ever they want and give you crap for service and slow Internet

May 01 2013 at 9:45 AM Report abuse +2 rate up rate down Reply