Thursday’s stock market surge — with the Dow Jones Industrial Average rising more than 330 points — failed to translate to cable stocks, Multichannel News reports.
The story reports: “The Dow finished the day at 12,208.55, up 339.5 points. For MSOs, it was a rough day, characterized by Time Warner Cable, which shed 7.7% ($5.46 per share) to close at $65.17 after reporting weaker than expected results.”
Other cable operators are due for quarterly reports in the next few weeks. But many were down Thursday, the story reports, including Charter Communications, off 1.3% to 64 cents; Cablevision Systems, down 1.1% to 20 cents; and Comcast, down 1% to 21 cents.
Programmers were generally higher, the story adds, with News Corp. up 5.4%, Scripps Networks up 4.6%, Liberty Starz up 4%, Walt Disney Co. up 3.5%, Time Warner Inc. up 3.4% and Viacom up 2.4%.