Companies engaged in providing media services have been showing some strength, despite the top companies’ fundamentals still being uninspiring.
Investor’s Business Daily yesterday ranked the media sector as No. 6 out of 33 sectors.
Two industry groups, including newspapers and diversified media, were ranked in the top 25 of IBD’s 197 groups.
Media stocks have made a recovery with the major averages along with higher-than-predicted financial results and hopes the economy will show progress after job growth picked up in July.
News Corp (NASDAQ:NWSA)
News Corp (NASDAQ: NWSA) announced its quarterly earnings results on Wednesday. The company reported $0.32 EPS for the quarter, meeting the Thomson Reuters consensus ballpark figure of $0.32.
The company’s quarterly revenue declined 6.6% on a year-over-year basis.
News Corp reported a $1.55 billion quarterly loss as decreased advertising revenue led to a write down of its Australian publishing business.
News Corp (NASDAQ:NWSA) reported the loss of -0.59% and closed at $23.72 with the total traded volume of 22.28 million shares.
NWSA has trailing twelve months earnings per share of $1.40 and its price to earnings ratio ended at 16.99.
The Walt Disney Company (NYSE:DIS)
Disney has been one of the Dow’s top performing stocks in 2012, increasing more than 30% and following only Bank of America among Dow components.
The Walt Disney Company (DIS) delivered record-setting quarterly earnings beating Wall Street estimates. Disney reported $1.8 billion in net income and earnings of $1.01 a share for the quarter ended in June more than 31% versus a year ago.
The company overlooked to some extent on sales, however, reported $11.1 billion in revenue beside a consensus estimate of $11.3 billion.
The Walt Disney Company (NYSE:DIS) shares moved up +1.37% to close at $50.49 and its total traded volume during last trading session was 2.77 million shares. DIS has market capitalization of 90.59 billion and its beta value stands at 1.18 times.
DIS has current ratio of 1.14 and its debt-to-equity ratio was 0.42.
Time Warner Inc. (NYSE:TWX)
Time Warner Inc. (NYSE:TWX) surged 0.88% with the closing price of $42.31. The overall volume in the last trading session was 1.41 million shares. Its fifty two week range was $27.62-$42.31.
The total market capitalization remained $40.15 billion.
In its share capital TWX has 948.92 million outstanding shares while 947.99 billion shares have been floated in market.
TWX has insider ownership of 0.10% with its institutional ownership remained 86.60%. Company’s current year earnings per share grew with 20.53% while the five year EPS growth rate was -5.52%.