The Dow Jones Industrial Average managed to stay in the
black for three consecutive days, rising more than 200 points Thursday and
cable stocks rose with the tide.
The Dow closed at 7,170.06, up 239.66 points. It was the
third straight day of gains after a more than 435 point drop between March 2
and March 6. What looked like another week of losses after the market dipped 78
points on Monday turned into a strong rally as the index surged 379.48 points
Tuesday and 7.27 points on Wednesday.
Strong rallies for General Electric (up 13%) and banking
stocks (Bank of America rose 20%) helped fuel the latest gains.
The good news continued on the cable side, with Mediacom
Communications up 12.7% (45 cents) to $4 each, followed by Time Warner Cable,
up 8% (61 cents) to $8.33 each; Cablevision Systems, up 6% (70 cents) to $12.48
each; and Comcast, up 4.5% (55 cents) to $12.92 each.
Satellite stocks also rode with the flow on Thursday, with
Dish Network up 7.3% (73 cents) to $10.74 and DirecTV Group increasing 5.3%
($1.07 each) to $21.13 per share.
Programmers also benefited from the overall market rise with
Crown Media Holdings up 14% (25 cents) to $2; Walt Disney Co. up 5% (84 cents)
to $17.43; News Corp. up 3% (19 cents) to $6.55;; Scripps Networks Interactive
up 3% (59 cents) to $20.49; World Wrestling Entertainment up 3% (28 cents) to
$10.11; Viacom up 3% (54 cents) to $16.62; and Outdoor Channel up 1.2% (7
cents) to $6.02 per share.