Time Warner Cable Tops S&P 500; Stocks Slump on Fed Hike Fears

Time Warner Cable (TWC) topped the S&P 500 after Charter Communications (CHTR) agreed to acquire its larger rival for around $55 billion.
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Time Warner Cable (TWC) topped the S&P 500 after Charter Communications (CHTR) agreed to acquire its larger rival for around $55 billion. That marks a 14 percent premium to Time Warner's close on Friday. Investors cheered Charter's decision in which the cable operator would become the second largest in the country after Comcast (CMCSA). Charter was the best performer on the Nasdaq. The Dow saw all 30 of its components in the red, though some suffered more than others. High-momentum mover Apple (AAPL) was the biggest laggard, followed by Chevron (CVX) which had been pulled lower by a sell-off in crude oil.