GNG News Guy
12-05-2007, 09:04 AM
http://i.dslr.net/urls/90/13090.gif (http://www.dslreports.com/shownews/Comcast-Sales-Slow-89966)
Comcast stock has been taking a beating. Investors have been worried that the company is secretly planned a multi-billion dollar entry into the wireless broadband sector, even though yesterday the company said it won't be participating (http://www.thegng.org/shownews/Cable-Giants-Not-Bidding-In-700Mhz-Auction-89909) in the 700Mhz auction. Investors have also been nervous about the competitive impact of FiOS, even though it's going to take Verizon a decade to match Comcast's TV footprint (http://www.thegng.org/shownews/85417).
Adding to investor worries today is the news (Bloomberg (http://www.bloomberg.com/apps/news?pid=20601103&sid=aG6gp1.EbLcQ&refer=us)) that Comcast cut its 2007 forecasts for sales. Financial analysts blame the slower than expected growth on a slump in housing construction and rising foreclosures. "I don't remember a time when Comcast downgraded guidance and I've been following the company for longer than I care to admit," notes analyst Cynthia Brumfield (http://www.ipdemocracy.com/archives/002797cable_enters_new_era_as_comcast_lowers_guida nce.php).
read comment(s) (http://www.dslreports.com/shownews/Comcast-Sales-Slow-89966)
Comcast stock has been taking a beating. Investors have been worried that the company is secretly planned a multi-billion dollar entry into the wireless broadband sector, even though yesterday the company said it won't be participating (http://www.thegng.org/shownews/Cable-Giants-Not-Bidding-In-700Mhz-Auction-89909) in the 700Mhz auction. Investors have also been nervous about the competitive impact of FiOS, even though it's going to take Verizon a decade to match Comcast's TV footprint (http://www.thegng.org/shownews/85417).
Adding to investor worries today is the news (Bloomberg (http://www.bloomberg.com/apps/news?pid=20601103&sid=aG6gp1.EbLcQ&refer=us)) that Comcast cut its 2007 forecasts for sales. Financial analysts blame the slower than expected growth on a slump in housing construction and rising foreclosures. "I don't remember a time when Comcast downgraded guidance and I've been following the company for longer than I care to admit," notes analyst Cynthia Brumfield (http://www.ipdemocracy.com/archives/002797cable_enters_new_era_as_comcast_lowers_guida nce.php).
read comment(s) (http://www.dslreports.com/shownews/Comcast-Sales-Slow-89966)