News

Dow Drops 213 Points

4/10/2012 4:53 PM Eastern

The Dow Jones Industrial Average fell 213 points Tuesday, as fears over continued volatility in the European debt markets sent jittery investors for the exits. Cable stocks, with few exceptions, felt the pain.
On the MSO side, Charter Communications finished the day down 3.65% ($2.25 each) to close at $59.41 per share, followed by Time Warner Cable, down 2.7% ($2.16 each) to $77.77 and Comcast down 2.3% (68 cents) to $28.65 each. International MSO Liberty Global shed 2.2% ($1.05) to $47.65 and Cablevision Systems finished the session down 1.8% (25 cents) to close at $13.41 per share.
Satellite stocks were down as well, with Dish Network hardest hit - down 2.45% (78 cents) to 31.40 per share. DirecTV was down 1.5% (71 cents) to $48.41 per share.
On the programming side, Outdoor Channel Holdings managed a slight gain, finishing up 4 cents per share (0.6%) to $7.01 each. Viacom finished the day down less than 1% (0.5%, or 26 cents to be exact) closing at $50.12 and Crown Media Holdings also managed a sub-1% decline, falling 0.7% (1 cent) to $1.50 each.
Other programming stocks weren't so lucky. Leading the decliners was AMC Networks, down 4% ($1.72 each) to $41.65 per share, followed closely by CBS, down 3.8% ($1,24) to $31.30; Scripps Networks, down 3.4% ($1.60) to $46.08; Liberty Media, down 3.3% ($2.87) to $84.15; Liberty Interactive, down 2.9% (55 cents) to $18.31; the Walt Disney Co., down 2.7% ($1.12) to $40.99; Discovery Communications, down 2.1% ($1.08) to $49.74; News Corp., down 2% (39 cents) to $18.92; and Time Warner Inc., down 1.7% (62 cents) to $35.41 each.

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