You will be redirected back to your article in seconds

Showbiz stocks buck October upswing

Netflix, Cablevision were some of the biggest losers

Despite the volatility, October was a good month for stocks. The Standard & Poor’s 500 index gained 10.77%, which is the 23rd-best monthly advance since 1926, according to the S&P Indices Group. Over the past 40 years, only seven months have seen better gains.

But not all stocks rose in price, and not a single major entertainment company was among the top 25 advancers in the index.

In fact, the entertainment sector included some real clunkers. S&P reports that three entertainment industry biggies were among the 25 stocks in the index with the largest percentage declines in price last month.

The slumps reflect company-specific problems that came to light during the release of quarterly earnings. But it’s worth noting that each of the firms is a big player in content distribution.

Ranking 20th among last month’s decliners was Amazon.com, which slid 1.26% as expenses climbed faster than revenues. Its third-quarter earnings plunged 73%

In seventh place was Cablevision Systems, which fell 8.01%. The company blamed costs associated with repairs from Hurricane Irene.

And leading the pack was Netflix, which plunged a whopping 27.47%. Even though the company beat third-quarter earnings estimates, it guided lower for the fourth quarter.

More Biz

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    Despite the volatility, October was a good month for stocks. The Standard & Poor’s 500 index gained 10.77%, which is the 23rd-best monthly advance since 1926, according to the S&P Indices Group. Over the past 40 years, only seven months have seen better gains. But not all stocks rose in price, and not a single […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    Despite the volatility, October was a good month for stocks. The Standard & Poor’s 500 index gained 10.77%, which is the 23rd-best monthly advance since 1926, according to the S&P Indices Group. Over the past 40 years, only seven months have seen better gains. But not all stocks rose in price, and not a single […]

  • Randall Stephenson

    AT&T-Time Warner Trial: Randall Stephenson Takes Stand and Defends Merger

    Despite the volatility, October was a good month for stocks. The Standard & Poor’s 500 index gained 10.77%, which is the 23rd-best monthly advance since 1926, according to the S&P Indices Group. Over the past 40 years, only seven months have seen better gains. But not all stocks rose in price, and not a single […]

  • Lucian Grainge

    Vivendi Prepping 'Potential' Stock Listing of Universal Music Group

    Despite the volatility, October was a good month for stocks. The Standard & Poor’s 500 index gained 10.77%, which is the 23rd-best monthly advance since 1926, according to the S&P Indices Group. Over the past 40 years, only seven months have seen better gains. But not all stocks rose in price, and not a single […]

  • Fauda Israeli TV Show

    Israel at 70: A Piece of Hollywood in the Middle East

    Despite the volatility, October was a good month for stocks. The Standard & Poor’s 500 index gained 10.77%, which is the 23rd-best monthly advance since 1926, according to the S&P Indices Group. Over the past 40 years, only seven months have seen better gains. But not all stocks rose in price, and not a single […]

  • Bob Iger Rupert Murdoch

    SEC Filing Reveals New Details on Disney-Fox Deal, and How Comcast Got Rejected

    Despite the volatility, October was a good month for stocks. The Standard & Poor’s 500 index gained 10.77%, which is the 23rd-best monthly advance since 1926, according to the S&P Indices Group. Over the past 40 years, only seven months have seen better gains. But not all stocks rose in price, and not a single […]

  • Beth MatthewsASCAP Pop Awards, Show, Los

    ASCAP Distributes $1 Billion to Members for the First Time

    Despite the volatility, October was a good month for stocks. The Standard & Poor’s 500 index gained 10.77%, which is the 23rd-best monthly advance since 1926, according to the S&P Indices Group. Over the past 40 years, only seven months have seen better gains. But not all stocks rose in price, and not a single […]

More From Our Brands

Access exclusive content