Shares of Barry Diller's IAC/InterActiveCorp bucked a downward trend Wednesday, rising 3% to $17.14 after reporting strong third-quarter revenue. It reported a $14.8 million loss compared with a $70.5 million profit a year ago on expenses related to spinning off pieces of the firm.
Sinclair Broadcast Group said Wednesday that its third-quarter profit rose 18%, helped by a surge in political advertising, but said a change in its dividend tax rate or a worsening economy could hurt its dividend. Shares fell 7% to $3.21. The results missed Wall Street's estimate.
Barack Obama's presidential victory has given a boost to his million-selling books, "Dreams From My Father" and "The Audacity of Hope." Both were in the top 25 on Amazon.com's best-seller list Wednesday. "Dreams" is a memoir released in the 1990s when few had heard of Obama; "Hope" is a reflection on politics that came out in 2006 and helped to solidify his national following.