To: drenko who wrote (25285 ) 7/13/2000 4:12:45 PM From: Dealer Read Replies (2) | Respond to of 35685 GMST-RNWK--Newspaper, cable-related shares up By David B. Wilkerson, CBS.MarketWatch.com Last Update: 2:51 PM ET Jul 13, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - Cable-related shares were among Thursday’s advancers in the media sector. Today on CBS MarketWatch Nasdaq extends gains; Dow rises J.P. Morgan smashes past estimates Net stocks surge as earnings delight General Electric posts record quarter Crude oil boosts import prices More top stories... CBS MarketWatch Columns Updated: 7/13/2000 1:55:12 PM ET Following significant gains on Wednesday, Gemstar (GMST: news, msgs) advanced. Gemstar closed its $9.2 billion acquisition of TV Guide Wednesday. Gemstar stock rose 4 5/8 to 74 3/8 in early afternoon trading. Among other cable-related gainers, set-top box leader Motorola (MOT: news, msgs) rose 2 9/16 to 38 13/16, and Scientific-Atlanta (SFA: news, msgs) rose 2 9/16 to 87 3/16. Late Wednesday, Motorola reported second-quarter results that were in line with most estimates, prompting an upgrade from CS First Boston. See full story. Time Warner (TWX: news, msgs) advanced 3 11/16 to 85 13/16, while America Online (AOL: news, msgs) was better by 2 1/4 at 59 1/4. Time Warner said it will take a non-recurring second-quarter charge of $50 million. The charge is due to a Georgia Court of Appeals ruling that upheld a December 1998 verdict against Time Warner Entertainment and Six Flags units. Time Warner is expected to report quarterly results on July 18; a First Call consensus estimate puts results at a profit of 8 cents a share. Meanwhile, AOL said it will use RealNetworks (RNWK: news, msgs) software to provide interactive and broadband entertainment to the Internet access provider’s 23 million customers. Financial terms of the deal were not disclosed. See full story. Among newspaper companies, Washington Post (WPO: news, msgs) rose 4 7/8 to 485, while E.W. Scripps (SSP: news, msgs) and New York Times Co. (NYT: news, msgs) were better by less than a point. After rising earlier in the session, Dow Jones (DJ: news, msgs) shares lost 1 3/8 to 71 7/16. The publisher of The Wall Street Journal reported second-quarter earnings that obliterated most analysts’ estimates, but some investors are concerned about an advertising slowdown in the second half of 2000. See full story. McClatchy Newspapers (MNI: news, msgs) shares edged 1/4 lower to 35. The company said second-quarter net income rose to $24.8 million, or 55 cents a share, from $22 million, or 49 cents, a year ago. Respondents to a First Call survey predicted a profit of 53 cents. But investors were slightly spooked by Chief Executive Gary Pruitt’s statement that “higher newsprint prices and interest rates to continue to impact our results” during the third and fourth quarters of 2000