Comcast Corporation (CMCSA) reported earnings for the fourth quarter on Wednesday. Today, the company's shares hit a new 52-week high of $25.39 during the intraday session (there's still more than two hours left until the closing bell rings, so that high point could eventually change).

The 52-week low for the cable business is $15.55. The one-year chart tracks the positive momentum of the equity. Will the stock break out to new heights from this juncture?

The shares of cable and communications giant Comcast Corp. (CMCSA), which I first wrote about on April 22, 2009, at a price of $14.05, have put in a decent rally this winter, rising to about $24. Now may be a good time to consider taking some profits if you're in near $14.

However, those investors who can tolerate the risk can maintain their full position with CMCSA and go for an even bigger gain, but keep in mind the journey to $30 probably will not be completed in 2011.

Comcast Corporation (CMCSA) is pretty close to the 52-week high of $20.56, at least at the time of this writing. I saw a quote of $20.34 go by on my screen, a price that represents a gain of 3.6% from yesterday's close. Volume is strong.

The one-year chart shows some sideways action, but it also displays a stock that has been strong during the past twelve months. One does get the sincere impression that it wants to break out of its current levels sooner rather than later. It is difficult, however, to buy stocks that are at their highs of the year, especially with the way the economy and the markets have been acting.

NBC Universal has been a disappointment for General Electric (GE). Will the company, after the transaction involving it, GE and Comcast (CMCSA) goes through (assuming it does), see an improvement in its future prospects? I sure hope so, but I have to say, if the new leaders simply engage the same old strategies as before, then I don't have a lot of confidence.

It's been reported that Jeff Zucker will be leaving. On the surface, one might, on an instinctual level, feel positive about the exit of the studio's CEO. As we all know, change can be good; reboots can oftentimes act as catalysts that transform an operation into a stronger entity.

Distribution of content fascinates me. So does compensation for the talent that generates the content. In my mind, talent is extremely overcompensated via pricey salaries and overgenerous profit-participation schemes. The demands of talent constitute a friction working against the goal of increasing shareholder value in the media industry. Time and time again, we see evidence of the thesis.

These were my thoughts as I checked out Steve Levitan's comments on streaming practices at ABC.com and Hulu that were made in an interview at The Hollywood Reporter. Levitan is one of the creators of the excellent Modern Family series. That really is a quality show, and I'm glad ABC possesses it in its programming portfolio. I'm a shareholder of Disney (DIS), as you might have guessed.

News Corp. (NWS), whose rivals include CBS (CBS), Disney (DIS), and General Electric's (GE) NBC Universal, closed Wednesday's session higher by 2.6%, settling out at a price of $15.58. But the stock wasn't done. It continued to rise during extended-hours trading, gaining another 3.5%, enough to put it firmly over the $16 mark.

The fiscal fourth-quarter earnings report was met with approval by the market. According to the Associated Press, the business generated 30 cents per share this time around, versus a loss of 8 cents per share in the year-ago period. Advertising strength helped the company's cause. Operational cash flow jumped from $2.2 billion to roughly $3.9 billion over the last twelve months, as detailed in the press release.

Walt Disney company (DIS), the media giant that competes with CBS (CBS), General Electric's (GE) NBC Universal, and News Corp. (NWS), reported Q2 earnings after the bell on Tuesday. After reviewing them, I think it's safe to say management did a good job of delivering a solid quarter. But . . . what about the stock?

That's the big question mark. During yesterday's after-hours session, the stock was down 3.5%, or over a buck at one point. Obviously we'll have to wait and see where the shares end on Wednesday after the regular session to get a better feel for what the traders think, but there's no question that the Mouse has had a slightly rough time in the last several sessions.

CBS (CBS), the famous broadcaster whose competitors include Disney (DIS), General Electric's (GE) NBC Universal, and News Corp. (NWS), reported Q1 earnings after the bell on Wednesday. This afternoon, the stock is firmly in the red: at the time of this writing, shares were down over 4% to $14.93. Below $15, can you believe it? Volume is very strong with more than two hours to go before the close of regular activities, so by the time this is published, volume might end up being quite impressive.

The 52-week high on the stock is $16.98. The market has been discounting better times ahead for the company, as the following one-year chart seems to indicate.

News Corp. (NWS), a media conglomerate whose colleagues include CBS (CBS), Disney (DIS), General Electric's (GE) NBC Universal, Time Warner (TWX), and Viacom (VIA), issued its Q3 report Tuesday after the bell. I thought things looked pretty good.

Net sales increased 19%, and net income calculated out to 32 cents per share; Bloomberg Businessweek says the expectation was for around 23 cents per share of profit. Very cool. If you reference the actual press release, you'll see that just about all the operating segments performed extremely well on a year-over-year basis.

Disney (DIS), a major media company that competes with CBS (CBS), General Electric's (GE) NBC Universal, News Corp. (NWS), Sony (SNE), Time Warner (TWX), and Viacom (VIA), offered up fiscal Q1 data after the bell on Tuesday. From the looks of things, the Mouse had a good quarter.

According to my earnings preview, the call was for net income to come in at 39 cents per share on an adjusted basis. Disney actually made 47 cents per share. Not only was that a more than acceptable beat, but it represents growth of 15%.

We all knew News Corp.'s (NWS) Avatar would cede the top spot to some film someday. To be honest, I didn't think Sony's (SNE) Dear John would be the one to do it.

According to Box Office Mojo, John grossed roughly $32 million at domestic theaters. That was more than enough to put the sci-fi flick in second place. However, no one should feel sad for News Corp.; Avatar's worldwide haul now stands at over $2.2 billion.

Comcast (CMCSA) published fourth-quarter numbers earlier today. On a reported basis, net income more than doubled to 33 cents per share. According to Reuters, the cable company earned 29 cents per share on an adjusted basis, beating estimates by two pennies.

Management loves to promote its ability to generate free cash flow. There was an increase in this metric of just under 21% for the twelve-month period. I love free-cash generation, and I appreciate this example of growth, but one thing should be pointed out: operational cash flow was flat. As the earnings release stated, a reduction in capital expenditures was mostly responsible for the expansion. Free cash flow was down 11% for the fourth quarter itself, sorry to say.

News Corp. (NWS), the media conglomerate that competes with Disney (DIS), Time Warner (TWX), and General Electric's (GE) NBC Universal, posted Q2 data after the bell on Tuesday. Shareholders should have few complaints on this one.

Revenues went up 10%, and earnings on an adjusted basis jumped well over 60% to 25 cents per share. According to Reuters, the estimate was 20 cents per share. Besides the beat, cash from operations was a lot better in the current six-month period. In the comparable frame, cash was used to fund operating activities.

General Electric Company (GE) is not a stock beloved by its shareholders. I'm one of them, and I can tell you that I sometimes find myself still unable to process the fall the once mighty icon of Wall Street has taken because of too much financial exposure. I look to every earnings report for signs of a true recovery in the conglomerate, a restoration to its former glory. The latest Q4 report doesn't necessarily do anything to point me in such direction, but I keep trying to tell myself it's going to be a while, and to hang in there.

According to the company press release, GE, whose colleagues include Citigroup, Inc. (C) and United Technologies (UTX), experienced a 10% drop in total sales and a 22% decline in per-share profit, the latter coming in at 28 cents from continuing operations. Thankfully, 28 cents was a couple pennies above the estimate given at Earnings.com.

NBC Universal, which recently was the subject of a proposed transaction between General Electric (GE) and Comcast (CMCSA), is having a serious problem with The Jay Leno Show. It's not performing well in the ratings. But wait, there's more, as a typical infomercial narrator might intone: The Tonight Show isn't faring any better under the aegis of Conan O'Brien.

Worse, the issues with the 10 PM Leno programming asset go beyond just his ratings. The show is exerting a negative halo effect over the local newscasts. If you don't have a strong lead-in, then the content that follows will suffer.