Tuesday Market Movers (NWSA, SCMF, STX)

News Corp NWS NWSA: News Corp shares surged 7% early in the day on Tuesday. The company announced that it is considering splitting off its publishing business and focusing more on the larger television and film unit. The company has experienced embarrassment in the past year over a phone hacking scandal. The Wallstreet Journal reported earlier that the publishing business would include entities such as Dow Jones Newswires, the New York Post, News International, The Times and The Sunday Times. The entertainment business would include Fox's News, Sports and Business channels. In the past year, News Corp is up about 18%. Southern Community Financial SCMF: Southern Community Financial declared on Tuesday that they have agreed to amend the previously announced Agreement and Plan of Merger with Capital Bank Financial Corporation. The deal will now amount to $3.11 per share in cash. Southern Community Financial traded up over 13% early on Tuesday. Seagate Technology STX: Seagate Technology will replace Progress Energy PGN on the S&P 500 index after the market close on Friday. Duke Energy DUK is acquiring Progress Energy in an agreement that is expected to close soon. Seagate designs, manufactures, markets, and sells hard disk drives for clients worldwide. Seagate traded almost 4% higher on Tuesday.