Sharewatch: BSkyB Suffers On Negative Guidance
BSkyB was seen in focus after Banc of America repeated its sell advice, citing worries that the broadcaster’s customers could be trading down to cheaper packages. It said that consensus forecasts were too optimistic, as they demanded sharp price increases and continued subscriber volume growth. The stock was seen down 2.03%.
Elsewhere, Cable & Wireless shares were seen up 4.05% on Thursday after reports that the company is attracting take-over interest. Several reports said that Hong Kong telecoms carrier, PCCW Ltd, had approached the group, although PCCW said on Thursday that it had not made a bid.
Meanwhile, Reuters was under pressure after Sanford Bernstein cut the stock to market perform from outperform and slashed its price target to 17p, warning the group might not experience growth in core revenue until the end of the decade. The stock was seen down 1.16%.
The closing prices of media company shares on Wednesday were:
