No 鈥楴ational Show Bump鈥?for Cable-Operator Stocks
Cable-operator stocks were down for the most part in the days during The Cable Show '07 in Las Vegas earlier this week, with just two experiencing a rise in their share prices.
Alas, there was no "National Show Bump," or the rise in cable stock prices that frequently happens as operators ride the wave of optimism that usually surrounds the national cable convention. Of the six publicly traded cable operators, only Mediacom Communications and Time Warner showed gains in their stock prices, with Mediacom rising 14 cents per share from May 4-9, the trading period during the show.
Time Warner ended the same period up 41 cents per share, but the rise could have been higher. The stock closed at $21.91 per share May 8 (up 61 cents from May 4), but it fell back to $21.70 May 9 after news of the arrest and subsequent firing of former HBO chairman and CEO Chris Albrecht came out.
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