Bad Day For The Dow - Multichannel

Bad Day For The Dow

Author:
Publish date:

The Dow Jones Industrial Average fell 240 points on Friday, ending what has been a dismal third quarter for the index as practically every sector, cable included, continued to feel the pain.
The index closed at 10,913.38 on Sept. 30, down 240.60 points.
With Friday's lackluster showing, the Dow has dipped more than 10% and 1,500 points in the three months ended Sept. 30, the biggest quarterly percentage decline since 2009 and the worst quarterly point drop since the low-point of the financial crisis in late 2008, according to the Wall Street Journal.
Cable stocks were down across the board. Cablevision Systems led MSO decliners, losing 5.6% (94 cents) to close at $15.73 and followed by Comcast, down 3.6% (77 cents) to $20.92; Time Warner Cable, down 3.2% ($2.09) to $62.65; and Charter Communications, down 2.7% ($1.28) to $46.84.
No sector was unscathed, with satellite TV providers Dish Network, down 4.4% ($1.14) to $25.05 and DirecTV, down 2.5% ($1.06) to $42.27.
On the programming side, Viacom dipped 4.8% ($2.44) to $48.41; followed by AMC Networks, down 3.7% ($1.24) to $31.95; Scripps Networks, down 3.2% ($1.24) to $37.21; News Corp., down 2.8% (45 cents) to $15.60; Time Warner Inc., down 2.4% (73 cents) to $29.97; Discovery Communications, down 2.4% (92 cents) to $37.62; and Disney, down 1.6% (49 cents) to $30.16.

Related