US STOCKS-Media stock selloff leaves Wall Street bruised

jueves 6 de agosto de 2015 16:38 GYT
 

* Disney, Viacom lead media selloff

* S&P media index records worst two-day tumble since 2008

* Tesla, Green Mountain fall after results

* Zynga falls after the bell following quarterly report

* Indexes finish down: Dow 0.69 pct, S&P 0.78 pct, Nasdaq 1.62 pct (Updates to close, adds detail on Zynga)

By Noel Randewich

Aug 6 (Reuters) - Wall Street ended sharply lower on Thursday as weak earnings reports from media companies stirred fears that more viewers are ditching cable TV, dragging the sector to its worst two-day loss since the financial crisis.

The selloff was compounded by nervousness ahead of key jobs data on Friday that could provide clues about the timing of the first Federal Reserve interest rate hike in almost a decade.

Viacom fell 14.22 percent to its lowest in almost four years after reporting lower-than-expected quarterly revenue due to weakness in its cable TV business. Walt Disney was off 1.79 percent and down for a second session after it lowered profit guidance for its cable networks unit on Tuesday.   Continuación...