Comcast Sharply Lower After Double Whammy

Comcast Corporation CMCSA shares are trading lower by $2.15 (5.5 percent) at $39.02 in Thursday's session. A pair of negative catalysts has the issue deep in the red.

First of all, Disney DIS put a crimp in the media sector when it announced Marvel and Star Wars will go exclusively to Disney's new streaming service that will launch late 2019.

See Also: Disney Rattles Media Sector On Pullback Of Marvel, 'Star Wars' Offering

Comcast was hit on that news and then the company announced it expects to lose 100,000-150,000 subscribers in Q3 due to increased competition and from the recent storms.

At this time, the stock has found support in the area of the multiple lows it had in the lower $38.00 handle from late June and early July. As of 2:15 p.m. ET, the low for the session stands at $38.21 and now the stock is attempting to remain in the $39.00 handle.