Market Minute: Disney and News Corp. Fight Over Hulu
The Dow gained 0.6 of a percent last week, ending just 75 points shy of the all-time high. The S&P 500 edged up 0.2 of a percent, and Nasdaq added 0.3.
The market is likely to get off to a rough start this week with concerns about economic growth in China, the budget stalemate in Washington, and caution ahead of Friday's jobs report.
Walt Disney and News Corp. are talking about how to resolve their differences over the online video site Hulu. Each company owns about a third of Hulu, and the talks could lead to one company buying out the other. Comcast (CMCSA) owns most of the other third.
A federal judge sharply reduced the damage award Apple (AAPL) will get in its patent dispute with Samsung (SSNLF). The ruling came out shortly before the closing bell on Friday. It cuts the damages from more than $1 billion to $599 million. The judge also ordered a new trial, at which she could reinstate some of those damages. Apple's stock is now at its lowest level in more than a year.
Berkshire Hathaway (BRK-A, BRK-B) reported a 46 percent jump in profits last year. But chairman Warren Buffett called his company's stock market performance "sub-par."
Oil rig operator TransOcean (RIG) posted a profit, reversing a year ago loss that was due to charges related to the Deepwater Horizon explosion. TransOcean is one of the defendants in a big trial going on in New Orleans over liability for the Gulf oil spill that followed that explosion.
And Las Vegas Sands (LVS) says it "likely" violated a federal law that prohibits bribery of foreign officials. Sands is controlled by billionaire Sheldon Adelson, the big Republican political donor.
Photo Credit: Alamy