Artist Geoffrey Raymond was displaying his painting “Inverted Murdoch’’ in front of News Corp.’s building in New York last week.
(Brendan Mcdermid/Reuters)
MARKET MOVERS
News Corp. rose sharply on solid profit (35 cents per share, beating forecasts) and a promise to return cash to stockholders via share buybacks. The gain restored much of the billions in value lost after a hacking scandal in Britain exploded. The company closed its News of the World tabloid, and 12 people were arrested. Revenue grew 11 percent to $8.96 billion with big gains at Fox News and elsewhere.
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