Disappointing data about factory performance added to investor concerns about prospects for the economy as the Federal Reserve pulls back on its stimulus efforts. The Dow Jones U.S. Media Index fell 2.7% today — ahead of a 2.3% drop in the Standard & Poor’s 500 and 2.1% slide in the Dow Jones Industrial Average. All but a handful of the companies we track lost ground. CBS was hardest hit among Big Media, with shares off 4.1%. It was followed by Viacom (-4.0%), Disney (-3.6%), Sony (-3.2%), Comcast (-3.1%), Fox (-3.0%), News Corp (-2.8%), Discovery (-2.2%), and Time Warner (-2.1%). In the broader media universe, companies licking their wounds today include DreamWorks Animation (-7.4%), Lionsgate (-5.6%), IMAX (-5.4%), Starz (-5.3%), and AMC Networks (-4.7%). The few gainers include Cinedigm (+4.6%, touching a multiyear high during the day), AOL (+1.7%), Time Warner Cable (+0.6), and Apple (+0.2%).
Media Stocks Slammed As Markets Reel From Weak Economic Data
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