Here’s Why Cablevision Shares Fell Off a Cliff

Shares of Cablevision (NYSE:CVC) dip tanked this morning after the firm’s COO Tom Rutledge suddenly jumped ship amid rumors that another satellite or cable company is interested in the exec. Bank of America’s severe two-grade downgrade on the company from Buy to Underperform doesn’t help the situation.

Here’s how cable operators are trading on the news:

Cablevision Systems Corporation (NYSE:CVC): CVC shares recently traded at $11.72, down $2.21, or 15.87%. They have traded in a 52-week range of $13.91 to $38.08. Volume today was 10,901,776 shares versus a 3-month average volume of 2,956,930 shares. The company’s trailing P/E is 9.82, while trailing earnings are $1.19 per share. Get the most recent company news and stock data here >>

Time Warner Cable Inc. (NYSE:TWC): TWC shares recently traded at $62.13, down $0.11, or 0.18%. They have traded in a 52-week range of $57.15 to $80.86. Volume today was 709,832 shares versus a 3-month average volume of 2,733,990 shares. The company’s trailing P/E is 14.35, while trailing earnings are $4.33 per share. Get the most recent company news and stock data here >>

Comcast Corporation (NASDAQ:CMCSA): CMCSA shares recently traded at $23.69, up $0.4, or 1.72%. They have traded in a 52-week range of $19.19 to $27.16. Volume today was 9,931,827 shares versus a 3-month average volume of 19,264,900 shares. The company’s trailing P/E is 17.04, while trailing earnings are $1.39 per share. Get the most recent company news and stock data here >>

Charter Communications, Inc. (NASDAQ:CHTR): CHTR shares recently traded at $54.55, up $1.45, or 2.73%. They have traded in a 52-week range of $37.42 to $61.15. Volume today was 247,439 shares versus a 3-month average volume of 361,889 shares. The company’s trailing earnings are $-3.48 per share. Get the most recent company news and stock data here >>