Cable Gains in Modest Market Rebound - Multichannel

Cable Gains in Modest Market Rebound

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The Dow Jones Industrial Average clawed back into positive territory Tuesday, reclaiming some of the losses of the previous day, with some cable stocks showing big gains.
The Dow closed at10,808.71, up 153.4 points, a day after shedding more than 258 points. Cable stocks, which took a beating on Monday as the market tanked, took advantage of Tuesday's uptick, with Cablevision Systems up nearly 6% (88 cents) for the day to $15.88 per share.
The rest of the MSO sector fared well, with Comcast up 4% (81 cents) to $21.17; Time Warner Cable up 3.5% ($2.19) to $64.98; and Charter Communications up 3.3% ($1.43) to $45.10 per share.
Satellite TV service providers also had a good day - Dish Network rose 5% ($1.18) to $24.80 and DirecTV increased 2.3% (%95 cents) to $41.55.
On the programming side there were a few decliners - AMC Networks dipped 1.5% (47 cents) to $30.99; Liberty Starz fell 2.5%z ($1.54) to $59.94; Liberty Interactive slipped 1.4% (20 cents) to $13.97 - and the increases were less dramatic. Leading the gainers was Time Warner Inc., up 3.8% ($1.09) to $30.05 and followed by Disney up 3% (86 cents) to $29.86; News Corp., up 2.8% (43 cents) to $15.64; Discovery Communication up 2.8% ($1.02) to $37.75s; Viacom up 1% (47 cents) to $46.38; and Scripps Networks, up 0.6% (21 cents) to $36.36 per share.