Why News Corp Surged Higher Today
The share price of News Corp. (NASDAQ: NWSA) was up on Tuesday on a day that was otherwise a dreary one for the market. The media company saw its price surge 15% higher at the opening bell to over $20 per share, but by 3 p.m. ET it had fallen back to around $18 per share -- still up 4.7% on the day.
News Corp was fueled by a strong earnings report, released at the close of the market on Monday.
News Corp is a media company with five different business lines, including news media (The Wall Street Journal, Barronʻs, New York Post, among others); book publishing (HarperCollins); digital real estate services (Realtor.com); Dow Jones & Co.; and subscription video services. It was founded by Rupert Murdoch, who also founded Fox Corporation. (NASDAQ: FOX), which runs Fox News, among other properties.
Source Fool.com
