NEW YORK ( TheStreet) -- News (Nasdaq: NWS) is trading at unusually high volume Wednesday with 11.1 million shares changing hands. It is currently at four times its average daily volume and trading up 61 cents (+2.8%) at $22.57 as of 3:35 p.m. ET.
News has a market cap of $16.19 billion and is part of the services sector and media industry. Shares are up 13.1% year to date as of the close of trading on Tuesday. News Corporation operates as a diversified media company worldwide. The company has a P/E ratio of 18.1, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates News as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full News Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.