Time Warner Cable shares fell 4% Mon after Pali‘s Rich Greenfield lowered the stock to "Sell" from "Neutral." The analyst reduced his estimate for ’09 EBITDA growth at the MSO to 7.9% from 9.6%, citing TW’s increasing competition (particularly in NYC) and a weakening economy that drives people to listen to competing offers more closely. Sanford Bernstein compiled a long list of facts on Verizon vs TWC NYC, including that NYC represents about 10% of the MSO’s footprint and that the telco’s buildout isn’t slated to be complete until ’14. The firm’s conclusion was hazy: "One immediately recognizes the challenge in forecasting a material impact on the cable operators, and particularly on Time Warner Cable, whose exposure is relatively low."

The Daily


Windstream Emerges From Bankruptcy

Windstream successfully completed its financial restructuring process and is a privately-held company as of Monday. While in Chapter 11 bankruptcy, the company successfully reduced its debt by more than $4bln

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