The moves in media stocks are never earnings based.
More Quotes from Barry Hyman:
The problems are the same Interest rates are high, and the economy is strong. It is affecting those sectors that are credit sensitive.Barry Hyman
I don't think the Fed looks at the equity market and makes decisions off the equity markets, but the equity markets are absolutely a reflection of wealth and consumer confidence, ... That is what the equity markets mean in relation to other economic scenarios and that is where (the Fed's) interest is.
Barry Hyman
The PPI number on Friday gave us a little bit of a hint that there most likely will be a hike on August 24th, but that'll be it,
Barry Hyman
There's more of a defensive style coming into the market. People are going to look for the opportunity to be in the market during this (results) season and will look at more defensive investments until we get through pre-releases. I'm no longer fearful of earnings, I'm fearful of the pre-releases.
Barry Hyman
For some reason, today we're painting the whole picture with a broad brush and a few profit warnings are really damaging that landscape for the companies that are good (performers).
Barry Hyman
These last few days have been consolidation, off of a good employment report and almost six weeks of gains.
Barry Hyman
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