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Viacom Earnings Plunge; Announces Plans to Sell Harmonix
By Market News Video Staff, Thursday, November 11, 11:30 AM ET
Viacom (VIA.B) posted adjusted earnings of $0.75 per share today, ahead of analyst expectations as revenue increased by 5%, to $3.3 billion. The company also announced plans to sell its Harmonix unit, which developed the video game Rock Band. Shares of Viacom are trading higher by 3.9% on Thursday.
Viacom is the second-largest holding of the Dynamic Media Portfolio (AMEX:PBS), at 5.11% of the fund, trading 0.15% today.
The fund’s top holding is Omnicom Group, at 5.4% of the fund, with Comcast (CMSCA), Time Warner Cable (NYSE:TWC), and News Corp. (NASDAQ:NWS) also in the top five holdings.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
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