Time Warner Gets A Boost At Citigroup's TMT Conference
There have been many winners and losers at the Consumer Electronics Show this week.
Netflix, Inc. (NASDAQ: NFLX) has been one of the big winners, as the stock has climbed from a low of $104.50 to $122.18 earlier Thursday. Media competitor Time Warner Inc (NYSE: TWX) joined the fray after appearing at Citigroup's TMT Conference.
Time Warner CFO Howard Averill announced that he expected the company to beat its 2015 adjusted EPS guidance. The stock responded in-kind, rising from $67.77 to $69.79, with other cable companies such as CBS Corporation (NYSE: CBS) and Cablevision Systems Corporation (NYSE: CVC) rising in sympathy to Averill's comments.
Among other news separate to the companies guidance, Averill sees big shift to on-demand consumption. He followed this up by saying that the company needs to get content on all available platforms.
Shares of Time Warner recently traded up 2.3 percent at $70.23.
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