CBS and These Media Stocks are Selling Off in the Market Downturn

Through most of the trading day on Friday, September 2, 2011, these stocks are bringing down the Services (NYSE:IYC) sector. Media companies are taking a hit because when there are economic worries, fears about advertising prices hit media stocks. Long time Wall St. Cheat Sheet readers know to watch stock prices because Technicals on the Stock Chart are Strong’ is one of the ‘T’s in our CHEAT SHEET investing framework.

CBS Corporation (NYSE:CBS) stocks are trading at $23.66. This is $1.20 (-4.6%) below the previous close of $24.80, making the company one of the biggest price losers in the sector today. CBS Corporation is a mass media company with operations in entertainment, cable networks, publishing, local broadcasting and radio.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $4.18 (-14.4%) from $28.98 to $24.80. It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight straight trading days, falling 11% (-$3.26). The stock price saw one of its best stretches over the last year between June 22, 2011 and July 5, 2011 when shares rose for nine straight trading days, rising 7.2% (+$1.91).

Shares of Cablevision Systems Corporation (NYSE:CVC) are trading at $17.04, down 83 cents (-4.5%) from the previous close of $17.84. Cablevision Systems Corporation is a telecommunications, media and entertainment company with a portfolio of operations in the United States.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $9.42 (-34.6%) from $27.26 to $17.84. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 7, 2011 when shares rose for nine straight trading days, rising 13.7% (+$3.29). It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight straight trading days, falling 11.4% (-$2.94).

H&R Block Inc. (NYSE:HRB) is one of the sector losers in price. Its shares are trading at $13.34, down $1.90 (-12.2%) from the previous close of $15.18. H&R Block, Inc. through its subsidiaries, provides tax preparation, retail banking, accounting and various business advisory and consulting services.

Stock Price Performance: From August 25, 2011, to August 31, 2011, the stock price had risen $1.57 (11.6%) from $13.55 to $15.12. The stock price saw one of its best stretches over the last year between June 16, 2011 and June 23, 2011 when shares rose for six straight trading days, rising 4.5% (+69 cents). It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight straight trading days, falling 8.3% (-$1.29).

Gannett Co., Inc. (NYSE:GCI) is among the price losers in the sector as its stock price is $10.53, down 67 cents (-5.8%) from the previous close of $11.18. Gannett Co., Inc. is an international news and information company operating mainly in the realms of publishing, digital and broadcasting.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $3.42 (-23.4%) from $14.60 to $11.18. The stock price saw one of its best stretches over the last year between November 30, 2010 and December 8, 2010 when shares rose for seven straight trading days, rising 20.7% (+$2.69). It saw one of its worst periods between July 26, 2011 and August 8, 2011 when shares fell for 10 straight trading days, falling 26.1% (-$3.55).

CTC Media, Inc. (NASDAQ:CTCM) is among the price losers in the sector. Its shares are trading at $14.82, which is 85 cents (-5.1%) below the previous close of $15.62. CTC Media, Inc. is an independent media company, which operates three Russian television networks : CTC, its flagship network, Domashny and DTV.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $5.83 (-27.2%) from $21.45 to $15.62. The stock price saw one of its best stretches over the last year between May 23, 2011 and May 31, 2011 when shares rose for six straight trading days, rising 10.4% (+$1.88). It saw one of its worst periods between May 10, 2011 and May 17, 2011 when shares fell for six straight trading days, falling 9.4% (-$1.86).