Market Focus


The Justice Department is getting ready to take Citigroup to court, unless the bank agrees to pay more than $10 billion in fines. Citigroup is facing charges that it ripped off investors by selling risky mortgage-backed securities, which later went bad, ahead of the financial crisis. Reports say Citigroup offered $4 billion to settle the charges, but the feds are looking for much more. Shares fell about 1.5 percent $47.59.

Univision, CBS & Time Warner

The owners of Univision are reportedly looking to sell the business for $20 billion. The Spanish-language broadcaster is talking with several media giants including CBS and Time Warner, according to those reports. It was expected that Univision’s owners were going to take the company public next year, that option is said to still be on the table. Shares of both CBS and Time Warner were off slightly. CBS closed at $60.45. Time Warner closed at $67.84.

Sprint & T-Mobile

An update on the possible sprint T-Mobile merger. There are reports that a definitive deal between telecom companies are still weeks away, but they have agreed on some terms: reportedly the merged companies will be branded T-Mobile, not Sprint and the two agreed on a $2 billion break-up fee. Shares of Sprint rose more than 1.5 percent to $8.73 and T-Mobile fell a fraction to $32.91.


Disney is expecting its global retail sales of its Infinity video game to hit $1 billion. The company launched the game 10 months ago to help turn around its struggling gaming unit. Despite that shares were unchanged at $82.80.

Netflix, Verizon & Comcast

Federal Regulators are looking into Netflix’s claims that Verizon and Comcast are responsible for slow content streaming speeds. Netflix has been complaining about deals it has had to cut with the two companies to ensure its videos get to customers without difficulties. Shares of Netflix were up one percent to $427.71. Verizon also rose a fraction to $49.18, but Comcast shares closed at $52.47, off just slightly. Comcast is the parent company of CNBC, which produces NBR.

Abengoa Yield

Renewable energy firm Abengoa yield saw its shares surge in the company’s trading debut. The offering raised more than $720 million after shares were priced well above the expected range at $29 a piece. The stock finished 27 percent higher to $37.

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