Cable Stocks Decline

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Cable shares posted mixed results in Wednesday's stock market downturn, as the Dow Jones Industrial Average sank 236 points on continued concerns over European debt.
The Dow closed Wednesday at 11,257.55 points, after a tepid response to a German bond offering refueled concerns about European debt. Cable stocks, while down for the day, managed to keep their losses relatively in check.
Charter Communications led decliners for MSO, dipping 2.8% ($1.48) to $50.98 per share, followed by Cablevision Systems, down 2.8% (41 cents) to $14.23. Time Warner Cable was down 2.6%, ($1.53 per share) to $57.99 each and Comcast lost 1.5% (32 cents) to $21.07 per share.
Satellite stocks took a bigger hit - DirecTV fell 3.4% ($1.56) to $44.79 and Dish Network was down 2.1% (49 cents) to $23.27 per share.
On the programming side, Discovery Communications, fell 3.8% ($1.54) to $39.04 and AMC Networks dipped 3.5% ($1.27) to $34.60, followed by Scripps Networks, down 3.4% ($1.30) to $37.34; News Corp., down 2.3% (39 cents) to $16.30; Viacom, down 2.1% ($1.09) to $50.02; and Walt Disney Co., down 1.8% (62 cents) to $33.40. Rounding out the sector were Time Warner Inc., down 1.7% (56 cents) to $32.17; Liberty Interactive, down 1.2% 19 cents) to $15.21; Liberty Capital, down 1% 60 cents) to $73.83 and Liberty Starz, down 0.6% (41 cents) to $64.99each.

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