Business/Finance

Time Warner Cable is likely even more attractive to Sanford Bernstein after the MSO’s share price slumped 2.5% Mon amid a broad sell-off to close at $21.91, just 27 cents off its 52-wk low. During after-hours trading, the shares dipped to $21.30. TWC is Sanford’s top pick among telecom, cable/satellite players for the next 6-12 months as it "offers investors strong growth in a strong and economically-defensive business, and one that is rapidly gaining share versus its telco rivals." After its planned split from Time Warner later this year, Sanford said the MSO will improve "on all equity-based valuations, including PE multiples and FCF yields." Given the depressed US economy, however, TWC and its cable brethren may not see notable short- to mid-term share price gains regardless of competitive success or balance sheet improvements. Charter shares closed Mon at 62 cents, and matched a 52-wk low of 61 cents after the bell. Cablevision dropped 7.3%, Mediacom 5.5% and Comcast 1.2%. — Multiplatform ad firm BlackArrow got a new $20mln financing round from existing investors Comcast, Cisco, Intel, Mayfield Fund and Polaris Venture Partners. BlackArrow’s tech allows for ad placement on broadband video and VOD, plus unskippable spots on DVRs.