Media sector suffers selloff after Disney, Comcast give guidance scaring investors - MarketWatch

1:36 p.m. ET Share Trey Williams Reporter

A handful of media stocks took a dive on Thursday after Walt Disney Co. DIS, -4.37% warned that the media and entertainment company's 2017 earnings would be "roughly in line" with last year , and Comcast Corp. CMCSA, -6.24% management told investors it is likely to lose 150,000 video subscribers during the third quarter. Comcast led the sector down, falling more than 7%, while Disney shares dropped more than 4%. Shares of Altice USA Inc. ATUS, -3.43% were down nearly 6% during intraday trade on Thursday, while shares of Viacom Inc. VIAB, -3.61% and 21st Century Fox Inc. FOXA, -2.42% were down more than 4%. CBS Corp. CBS, -2.10% AMC Networks Inc. AMCX, -2.87% and Sinclair Broadcasting Group Inc. SBGI, -4.05% shares fell more than 3%. Shares of Discovery Communications Inc. DISCA, -2.38% MSG Networks Inc. MSGN, -1.63% and Dish Network Corp. DISH, -3.68% were down more than 2%. In the year to date, Disney shares are down more than 6%, while shares of Comcast are up nearly 12% and the S&P 500 index SPX, -0.02% is up more than 10% in the year. Quote References