NEW YORK (TheStreet) -- Charter Communications  (CHTR - Get Report) stock is up 4.39% to $195.14 in mid-morning trading on Wednesday after a report said the Federal Communications Commission was planning to approve the company's acquisition of Time Warner Cable (TWC). 

FCC Chairman Tom Wheeler will approve the acquisition with several conditions, sources told the Wall Street Journal. The regulatory group may issue an official decision this week. 

Last week, shares of both Charter and Time Warner Cable climbed after New York City's Franchise and Concession Review Committee approved the deal. 

Time Warner Cable stock is up 2.82% to $201.19 in mid-morning trading on Wednesday. 

Based in St. Louis, Charter is a provider of cable services in the U.S.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "hold" with a ratings score of C-. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow.

You can view the full analysis from the report here: CHTR