Cable stocks gained some ground Friday after dropping to near-record lows in
the previous four days, as investors began to see bargains in the beleaguered
Although a few cable stocks saw double-digit percentage gains Friday, the
growth spurt didn't quite erase all of the losses of the past week, with the
exception of AT&T Corp., which closed at $10.70 per share, up 80 cents each
and a 38-cent-per-share improvement over its June 24 close of $10.32.
Cablevision Systems Corp., which fell 41 percent between Monday and Thursday
(from $13.83 to $8.11), rose 16.7 percent Friday to close at $9.46.
The big gainers for the day were Charter Communications Inc., rising 86 cents
per share, or 26.7 percent, to $4.08, and Insight Communications Co. Inc.,
closing Friday at $12.17 per share, up $2.15, or 21.5 percent.
Rounding out the sector were Comcast Corp. ($23.43, up $1.10), Mediacom
Communications Corp. ($7.79, up 34 cents), AOL Time Warner Inc. ($14.71, up
$1.08) and Cox Communications Inc. ($27.55, up 64 cents).