NEW YORK ( TheStreet) -- Comcast ( CMCSA) was a big gainer in premarket trading after the company reached a deal to buy the remaining 49% stake in NBCUniversal from 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) 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 AT&T ( T) and 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) 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. Shares of Apple ( AAPL), which updated processors and prices of its MacBook Pro with Retina Display on Wednesday, rose 0.13% to $468.5 on Wednesday. Zynga ( ZNGA) 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. Shares of Intel ( INTC), 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), which reports its second-quarter results after market close, rose 0.62% to $21.10. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.
Microsoft released upgrades and products Wednesday including "Surface Studio" for artists. Bill Gates, Microsoft's Co-Founder, appears below with an early computer running the Paint program, the first of its kind.