Media Stocks Jump
Media stocks road the stock market's gondola up the roller-coaster Tuesday as the Dow added 889 points to end up 11 percent. Cable stocks, several of which had plunged to 5-year lows in recent trading, all reported significant gains -- with Comcast rising a whopping 24.5 percent to $16.96. Cablevision Systems rose 8.1 percent and Time Warner Cable, 6.2 percent. Both major satellite TV providers were also up significantly with DirecTV recording a 15.8-percent gain and Dish, a 4.9-percent gain. Among the major media conglomerates, News Corp gained 17.5 percent and Disney, 11.9 percent. Nevertheless, all of these stocks are off more than 20 percent during the month of October alone.