Obama’s Support of STB Plan Adds to ‘Overhang’ on Cable Tech Stocks - Broadcasting & Cable

Obama’s Support of STB Plan Adds to ‘Overhang’ on Cable Tech Stocks

But analyst calls it ‘more of a headline risk’ than a ‘material financial headwind’
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The White House’s public backing of FCC Chairman Tom Wheeler’s plan to create new rules aimed to open up the retail market for set-top boxes adds to the “overhang” faced by Arris and other cable equipment stocks, but won’t necessarily make a material impact on them, an industry analyst believes.

President Obama’s support of the plan didn’t wreak havoc on shares in Arris, now the world’s largest set-top box maker following its 2014 acquisition of Motorola Home and the recently completed merger with U.K.-based set-top maker Pace plc. Shares in Arris closed at $22.19 on Friday, down 31 cents (1.38%) for the day.

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