Comcast Corporation (NASDAQ:CMCSA) and New York-based Boxee Inc reported on Thursday that they decided on a means for showing encrypted cable channels on the startup’s gadgets, which can be linked to a television to broadcast Internet video and TV programs.
The deal, announced in a letter filed with the United States Federal Communications Commission, may resolve fears by Boxee that increased encryption of programming may leave its boxes not capable to access basic-cable TV channels.
Cable companies like Comcast mention they want to securely transmit basic services so as to lower piracy and disconnect cable remotely, lowering costs by cutting the need to send technicians.
Boxee Chief Executive Officer Avner Ronen reported in an interview that cable companies would offer hardware or modify existing analog-to-cable converters to allow them interface with third-party set-top boxes if the deal approved by the Federal Communications Commission.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Charter Communications, Inc (NASDAQ:CHTR) surged +0.50% to settle at $70.00, Time Warner Cable Inc (NYSE:TWC) moved up +0.02% to end at $80.02 while Time Warner Inc (NYSE:TWX) decreased -0.34% to finish on Thursday at $37.87.
Comcast Corporation (NASDAQ:CMCSA) began the last trading session with a price of $30.83 and throughout the session climbed at a high of $31.09 but when day-trade ended the stock finally no change for the days to close at $31.04.
CMCSA had a trade volume of 12.29 million shares was lower as compared to average trading capacity of 14.12 million shares.
The stock is ahead its 52 week low with +64.29% and lagging behind from its 52 week high price with -1.93%. CMCSA last month stock price volatility remained 1.78%. In its share capital CMCSA has 2.70 billion outstanding shares among them 2.67 billion shares have been floated in market exchange. CMCSA stock institutional ownership remained 84.16% while insider ownership included 0.08%.
Shares price of CMCSA moved forward from its 20 days moving average with +2.64% and remote positively from 50 days moving average with +4.43%. CMCSA current year earnings per share experienced an addition with +16.17% while its current quarter performance remained +4.62%. Company’s beta coefficient included 1.05. Beta factors measures the amount of market risk associated with market trade.
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