Yesterday marked yet another 52-week and multi-year high close for Time Warner Inc. (NYSE: TWX). The stock was up on two developments:
1) The new DVD format from Warner Brothers that it will unveil that can accommodate both Blu-ray and HD-DVD formats. It is hard to imagine that a war in DVD formats is going to have Warner Brothers as the arbiter , but sometimes you just can't keep the children from fighting.
2) the cable spin-off or IPO. Today David Faber on CNBC said he has heard the IPO could come as soon as next week, although most expect the following week as of now.
The stock also finally saw some decent activity in the current month stock options for a change. This $22.42 high close is actually within striking distance of that $22.50 key strike price for new options, and that could act as a barrier without any news.
TWX closed up 1.77% or $0.39 at $22.42 on over 36 million shares yesterday. Today it is taking a breather. As of noon, it is down 23 cents to $22.19, a decline of just over 1%.
Another new recent high for Time Warner
Posted Jan 5th 2007 12:21PM by Jon Ogg
Filed under: Major Movement, Time Warner (TWX)
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Reader Comments (Page 1 of 1)
1-06-2007 @ 4:58PM
KEN. WILLIAMS said...
I AM HIGHLY CONCERNED AS TO WHETHER TWX WILL GO THE WAY OF ALCATEL/LUCENT(ALU) AND DEPRECIATE OUR PRESENT HOLDINGS WHEN THE IPO TIME WARNER CABLE EMERGES. WILL WE GAIN,OR LOOSE?