Verizon Will Carry CBS Programming During Blackout and 2 Other Dow Movers to Watch
Verizon Communications Inc. (NYSE:VZ): Current price $47.02
Verizon will carry CBS TV programming while the latter’s cable competitor Time Warner Cable Inc’s blackout of CBS moves towards its third week in New York, Los Angeles, and Dallas. On Thursday, Chief Executive Leslie Moonves of CBS informed employees that the same terms of Verizon’s deal were offered to Time Warner Cable as well, commenting in a memo seen by Reuters that, “You should know that Time Warner Cable has been offered almost exactly the same deal for CBS carriage to which Verizon has agreed.”
Microsoft Corp. (NASDAQ:MSFT): Current price $32.39
The former Microsoft executive Steven Sinofsky has joined the Silicon Valley venture capital firm Andreessen Horowitz, as a part-time “board partner,” who will represent the firm on certain boards of companies in which it invests. The move was announced on Sinofsky’s personal blog on Thursday, which may come as a surprise to observers.
Marc Andreessen, who was co-founder of the venture capital firm, has long criticized Microsoft after the latter effectively crushed his Netscape Communications browser company in the 1990s. Sinofsky exited Microsoft in November just after he led the debut of Windows 8, following an uncomfortable relationship with Chief Executive Steve Ballmer.
Exxon Mobil Corp. (NYSE:XOM): Current price $86.98
Exxon Mobil and Rosneft Oil Co are moving towards the construction of an LNG plant in the Russian Far East, having begun a process for choosing a contractor for undertaking the design and engineering work of the project.
During the next two years, the firms plans to finish design work, which includes selection of a liquefaction tech and the identification of major equipment requirements in order to perform engineering surveys, develop front end engineering and design, Russian Proyekt documentation for the LNG plant, hydro-technical marine facilities, and a source gas pipeline.