MasterCard (MA) shares saw a boom today after the company announced its board approved plan for a 10-for-1 stock split, a $3.5 billion shares buyback program, and an 83% dividend hike to $1.10 per share. A stock split pretty much dashes any dreams of MasterCard joining the $1,000 stock crew. That didn't bother investors at all as the stock finished the day up 3.5%.
Scripps Networks Interactive (SNI), the owner of Food Newtork and HGTV, saw its stocks pop about 8% today after it was reported Discovery Communications (DISCA) might be interested in buying them. Discovery, owners of Discovery Channel, TLC and Animal Planet, still may not make an offer but a merging of the two companies would give them leverage in negotiations with pay-tv operators and advertisers. Discovery Communications finished the day down less than 1%.
Home Depot (HD) also saw its stockRead More »from Stocks Slip on Taper Fears; MasterCard splits; a Scripps and Discovery merger?; Home Depot a year early