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Bad Day on Street, Bad Day for Satellite Stocks
The worst day for the Dow in seven years had its impact on satellite stocks.
On Monday, the Dow closed down more than 500 points, or more than 4 percent, to 10,917.51. Several companies took the plunge along with the index, including Sirius, which saw its stock tumble more than 10 percent to 85 cents a share. Shares in the satellite radio company have been on the decline since last week, when the company disclosed lackluster guidance for the rest of the year.
Shares in DIRECTV fell more than 4 percent to $26.30. DISH Network stock tumbled nearly 5 percent to $26.73. And EchoStar Holding fell 2 percent to $28.
The worst day for the Dow in seven years had its impact on satellite stocks.
On Monday, the Dow closed down more than 500 points, or more than 4 percent, to 10,917.51. Several companies took the plunge along with the index, including Sirius, which saw its stock tumble more than 10 percent to 85 cents a share. Shares in the satellite radio company have been on the decline since last week, when the company disclosed lackluster guidance for the rest of the year.
Shares in DIRECTV fell more than 4 percent to $26.30. DISH Network stock tumbled nearly 5 percent to $26.73. And EchoStar Holding fell 2 percent to $28.
