Cable Follows Dow Swoon - Multichannel

Cable Follows Dow Swoon

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The continuing uncertainty surrounding the European debt markets sent the Dow Jones Industrial Average down 179 points Wednesday, with some cable stocks declining more than 4%.
The Dow finished the day at 11,010.90, down 179 points, ending three days of gains for the index.
For cable stocks, the declines were mixed, with Cablevision Systems leading MSO decliners, dropping 4.9% (88 cents) to $17.06 per share and followed by Time Warner Cable, down 2.9% ($1.93) to $65.06; Charter Communications, down 1.7% (85 cents) to $49.20; and Comcast, down 1.5% (34 cents) to $22.
Satellite stocks were mixed, with Dish down 2.7% (75 cents) to $27.16 and DirecTV up 0.3% (13 cents) to $44.33.
Discovery Communications was hit the hardest in the programming sector, down 4.8% ($2.02) to $39.76 and followed by News Corp., down 3% (49 cents) to $15.99; Disney, down 2.2% (68 cents) to $30.48; Viacom, down 1.7% (86 cents) to $50.75. Rounding out the sector, Scripps Networks declined 3.4% ($1.37) to $39; Time Warner Inc., was down 3% (94 cents) to $30.78; and AMC Networks fell 1.8% (62 cents) to $33.41 per share.

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