Currency

Time Warner Cable Stock Surges on Charter Chatter

Report says Charter lining up bankers for TWC bid 11/22/2013 12:15:00 PM Eastern

Time Warner Cable stock soared Friday — up more than 7% ($8.64 each) to $129.50 per share in early trading — after a report in the Wall Street Journal said that Charter Communications was close to lining up bankers for a bid for the New York-based MSO.

Charter shares also rose - they were up as much as 4.7% ($5.98 each) to $132.94 per share in early trading Friday. At 9:57 a.m. on Nov. 22, Charter shares were up 1.2% ($1.53 each) to $128.49 per share.

The news also helped lift other cable stocks — Cablevision Systems shares rose 5.4% (81 cents each) in early trading Friday to $15.73 per share and Comcast stock was up 2.7% ($1.26 each) to $48.71 per share.

For the full story go to Multichannel.com.

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