Time Warner (TWX) Looks Tired
There were a number of positives in Time Warner's (TWX) results and call this morning. It's also true to say that it and some of the other Big Media companies are showing signs of life here in these last few weeks which they haven't for months.
However, I think it's noteworthy that TWX has given up its earlier 7% gain and is now up only 1% on the day. We'll see what happens in the days to come.
I think with TWX, investors are looking ahead and wondering what kind of company do they have post-AOL spin? The economy and ad market could keep recovering and help the stock. Networks are doing well. Film's been resilient but it's a hit and miss business. Publishing, despite good results for the last quarter, is likely going to continue to be operating in a weak environment. For me, as an investor, I find few reasons to be in Big Media compared to some other industries.
Position: None.
Originally published in RealMonday.com on 4/29/2009 3:43 PM EDT
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