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NEW YORK (
Comcast(CMCSA - Get Report) was a big gainer in premarket trading after the company reached a deal to buy the remaining 49% stake in
General Electric(GE) for $16.7 billion.
The deal came
earlier than observers were expecting. Comcast and GE formed the NBCUniversal joint venture in 2009.
Shares of the media giant rose 8.67% to $42.35 following the news. Comcast was also the most active premarket Nasdaq stock on share volume of 2,686,133. Shares of New York Stock Exchange-traded GE climbed 3.1% to $23.28.
Rackspace Hosting(RAX - Get Report) shares, however, fell more than 10% after the company
missed analysts' fourth-quarter revenue estimates.
The San Antonio-based firm increased revenue 25% to $353 million, below Wall Street's forecast of $355.42 million. The
Savvis rival said fourth-quarter revenue was helped by currency exchange rates.
Rackspace, which doesn't break out non-GAAP EPS, said it earned 21 cents a share on net income of $30 million, compared with 18 cents a share and net income of $25 million in the year-earlier quarter. Analysts surveyed by
Thomson Reuters were looking for earnings of 21 cents a share.
Shares of Rackspace were off 10.82% to $66.87 before market open.
Groupon(GRPN - Get Report) shares gained 6.81% to reach $5.65 after Sterne Agee upgraded the daily deals site to 'buy' from 'neutral', citing "a more constructive longer-term view of the company." The Chicago firm was also one of the most active premarket Nasdaq stocks on share volume of 527,380.
Apple(AAPL - Get Report), which updated processors and prices of its MacBook Pro with Retina Display on Wednesday, rose 0.13% to $468.5 on Wednesday.
Zynga(ZNGA - Get Report) was another gainer, rising 2.75% to $3.33 on share volume of 467,925.
Vodafone(VOD) shares slipped 1.69% to $26.77. The telecom giant was also another active premarket Nasdaq stocks on share volume of 1,144,556.
Intel(INTC - Get Report), which discussed its plans for a Web TV service on Tuesday, crept up 0.14% to $21.22 in premarket trading. Speaking during
AllThingsD's D:Dive Into Media conference on Tuesday, Erik Huggers, corporate vice president of Intel media, said that the Web TV service will be launched later this year.
Cisco(CSCO - Get Report), which reports its second-quarter results after market close, rose 0.62% to $21.10.
--Written by James Rogers in New York.
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