Cable Rides Dow Surge

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Investors decided to end the week on a note of optimism, driving the Dow Jones Industrial Average up nearly 260 points. Cable stocks, fueled by strong earnings at some programmers,rode the wave.
The Dow finished the day at 12,153.68, up 259.89 points, on favorable signs in the European debt markets and improved consumer sentiment. For cable stocks, strong showings from Disney. AMC and Viacom helped lift the sector.
Cablevision Systems led MSO stocks, rising 3.1% (47 cents) to $15.43 and followed by Charter up 1.75% (92 cents) to $53.61; Comcast up 1.6% (35 cents) to $22.52; and Time Warner Cable up 1.5% (90 cents) to $61.03 each.
Satellite stocks also enjoyed gains - Dish Network rose 2.3% (57 cents) to $25.78 and DirecTV was up 1% (42 cents) to $45.64.
But the real gains were in the programming sector. Liberty Starz led gainers, rising 7.4% ($4.74) to $68.60 and followed by AMC Networks, up 7% ($2.38) to $36.80 per share and Walt Disney Co., up 6% ($2.06) to $36.70 per share. All three companies reported strong quarterly results.
Rounding out the sector were Liberty Interactive, up 4.5% (68 cents) to $15.84; Scripps Networks up 4% ($1.56) to $41.05; Liberty Capital up 3.8% ($2.89) to $79.67; Viacom up 3.3% ($1.69); Discovery Communications up 3.1% ($1.32) to $43.39; and News Corp. up 2% (35 cents) to $17.60; to $53.52 each.

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