Harmonic Reaches Warrant Deal With Comcast

Harmonic Inc. reached a deal with Comcast Corp. that would give Comcast the right to buy common shares of Harmonic if the video services company meets certain sales and deployment milestones during a certain time frame, the San Jose-based company said Tuesday. A warrant gives the holder the right but not the obligation to buy or sell a stock. "We are well positioned to further strengthen our partnership with Comcast, drive new growth and create value for our stockholders," said President Patrick Harshman of Harmonic. More details will be available during a conference call at 6 a.m. Pacific on Wednesday. Harmonic stock surged 4.1% while Comcast was unchanged after hours.