Entertainment Stocks Take Another Beating

Labor Day has transpired, but Wall Street's tough summer time remains, using the S&P 500 sinking another 2.7 percent on Friday and many entertainment stocks faring worse than that. News Corp. was the very best of the conglomerates Friday, losing a comparatively mild 1.6 % of their value while CBS was lower 4 %, Time Warner dropped 3.2 percent, Disney sunk 2.9 % and Comcast fell 2.4 %. The new sony and Viacom were each off 2.3 %. More carnage, though, was observed in more compact media companies: Imax fell 7.8 percent, America online was lower 5.3 %, Live Nation dropped 5.1 %, Crown Media lost 4.8 percent, National CineMedia dropped 4.7 percent and Regal Entertainment was lower 4.3 %. A couple of rare those who win Friday amongst a drubbing that knocked 303 points from the Dow Johnson Industrial Earnings incorporated slight gains for Take-Two Interactive Software, Sinclair Broadcast Group and Yahoo. That old adage that recommends traders to "disappear in May" was appropriate this season for that major entertainment conglomerates. Since Memorial Day, The new sony has sunk 27 percent, Disney 25 %, CBS 20 %, Time Warner 19 percent, Comcast 16 percent, News Corp. 13 percent and Viacom 9 %. Related Subjects Time Warner Viacom Comcast CBS The Wally Disney Company News Corp. The new sony