Cable Stocks Swoon

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The Dow Jones Industrial Average fell 198 points Thursday amid continued uncertainty in the European debt markets, pressuring practically every business sector, including cable.
Cablevision Systems led decliners among MSOs, falling 6.1% (91 cents) to $14.04 per share, followed by Charter Communications, down 3.3% ($1.77) to $51.17; Comcast, down 2.9% (66 cents) to $22.47; and Time Warner Cable, down 2.5% ($1.57) to $61 per share.
Satellite stocks also swooned, with DirecTV down 4.7% ($2.26) to $45.43 and Dish Network declining 4.2% ($1.12) to $25.34.
Programmers also were hit hard, with Liberty Media falling 4.3% ($3.36) to $74.13; Walt Disney Co. down 3.2% ($1.18) to $35.92; and News Corp. down 2.9% (52 cents) to $17.61. Rounding out the sector were Viacom, down 2.5% ($1.26) to $49; Time Warner Inc., down 2.7% (95 cents) to $33.93; Liberty Interactive, down 2.4% (38 cents) to $15.66; Discovery Communications, down 1.8% (74 cents) to $41.05; Scripps Networks, down 1.3% (56 cents) to $41.37 and AMC Networks down 1% (36 cents) to $35.70 per share.

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