Verizon sells off
airwaves to AT&T
AT&T Inc. agreed to acquire airwaves from Verizon Wireless for $1.9 billion. The spectrum covers 42 million people in 18 states. The deal is expected to be completed in the second half of 2013. AT&T plans to use the airwaves to build out its next generation network.
Netflix remains a hot ticket on Wall Street. The Internet video service's shares climbed another 15.5 percent Friday to close at $169.56, their highest price in 16 months. The latest surge followed a 42 percent leap on Thursday, the stock's biggest single-day gain since Netflix went public in 2002. Netflix's fourth-quarter earnings and a surge in customers spurred the stampede.
Halliburton's net income for the fourth quarter fell 26 percent because of a decline in North American drilling activity. Still, the results beat Wall Street expectations and the oil field services company's shares surged. Halliburton earned $669 million for the quarter ended Dec. 31. That's down from $906 million a year ago.
Proctor & Gamble
2Q profit jumps
Proctor & Gamble's second-quarter net income more than doubled as the maker of Tide and Pampers took back market share. For the October-through-December quarter, the consumer products maker earned $4.06 billion, up from $1.69 billion last year. Revenue increased 2 percent to $22 billion.
Shell signs deal
Royal Dutch Shell has signed a contract to drill for natural gas in Ukraine's potentially prolific Yuzivska gas field in the eastern part of the country. Winning a Shell drilling program is a potential boon for Ukraine, which is thought to be one of the best bets in Europe for shale gas and tight gas.
surged in 4Q
Samsung Electronics said its net income for the fourth quarter surged 76 percent as profit from its mobile business more than doubled. Net income reached $6.58 billion. Sales rose 19 percent over a year earlier while its operating income jumped 89 percent.