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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.
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