Why Cablevision Systems Corporation Stock Jumped 18% in July
What:Shares of cable providerCablevision Systems Corporation jumped 18% last month, according to data fromS&P Capital IQ. The chart below tells the story:
So what:The New York-based parent of Optimum cable, Internet, and phone services got a 7% boost on July 10 as Patrick Drahi, the chairman of multinational cable and telecom giantAlticesaid Cablevision would make a good takeover target. Drahi also namedCox Communicationsas a potential acquisition in an interview with theWall Street Journal. There's good reason to take Drahi at his word. The tycoon already snatched up one American cable provider, acquiring Suddenlink for $9.1 billion in May, and says he would one day like to divide his assets half-and-half between the U.S. and the rest of the world.
The article Why Cablevision Systems Corporation Stock Jumped 18% in July originally appeared on Fool.com.
Jeremy Bowman and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright 1995 - 2015 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.