Comcast (NASD:CMCSA) and Cablevision (NYSE:CVC) reported different results, and have drastically different charts. Comcast reported a profit of $1 billion, after reporting a loss of $191.5 million a year earlier. Helping the bottom line was home shopping network QVC, which added a 7.7% increase in revenues.
Comcast Daily Chart
Comcast's chart shows a nice up trend that has been in place since early December, but a downtrend that has formed recently could see prices fall to the 50-dma at $42, or possibly the up trend around $40. Any further advances should find resistance between $45 and $46.
Cablevision, which also owns the New York Knicks and New York Rangers sports teams, reported a first quarter profit of $1.13 billion and an increase in net revenues of 8%. While those figures look adequate, Cablevisions needs to spend $1.5 billion to upgrade their cable systems to digital. That, and the New York Rangers need a lot of cash to sign all the top free agent hockey players this off-season, so they can have the biggest payroll in the NHL once again and still not make the playoffs. Bitter....I'm not bitter.
Cablevision Daily Chart
Is this a chart of Cablevision, or the Rangers record last year? Either way it looks grim. The 50-dma has crossed below the 200- dma, and that big five point gap doesn't look real encouraging. If Cablevision falls below $59, it could be bombs away.