Pre-Market Report: Global Markets Are Weak on December 5

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Part 4
Pre-Market Report: Global Markets Are Weak on December 5 PART 4 OF 6

Discovery Communications: S&P 500’s Top Gainer on December 4

Top gainers

The S&P 500’s top gainers on December 4 were:

  • Discovery Comm A (DISCA) rose 7.1%.
  • O’Reilly Automotive (ORLY) rose 6.8%.
  • Macy’s (M) rose 6.7%.
  • Gap (GPS) rose 6.6%.
  • Discovery Communications (DISCK) rose 6.1%.

Discovery Communications: S&#038;P 500&#8217;s Top Gainer on December 4

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Discovery Communications

Discovery Communications, which is an American mass media company, was the S&P 500’s top gainer on December 4. Discovery Communications opened higher on Monday and rose to eight-week high price levels.

The buying pressure in Discovery Communications increased on Monday amid reports that the company is increasing its stake in the Oprah Winfrey Network. The Oprah Winfrey Network started as a joint venture between Oprah Winfrey’s Harpo and Discovery Communications in July 2011. According to reports, Discovery Communications paid $70 million to Harpo, increased its sake from 45% to 69.5%, and became the majority stakeholder.

According to reports, Harpo would retain “significant minority interest” in the Oprah Winfrey Network, while Winfrey continues in the role of CEO. On December 4, Discovery Communications rose 7.1% and closed the day at $20.85. Discovery Communications is part of the S&P 500 Consumer Discretionary sector, which rose 1.2% on Monday.

In the next part, we’ll discuss how the US Dollar Index and US Treasury yields performed in the early hours on December 5.


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