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  1. jamesdoran88

    5,316 Posts.

    10:15am 03/23/04
    Vivendi, News Corp. rebound from Monday sell-off (V, SNE, NWS, NWS.A) By David B. Wilkerson
    SAN FRANCISCO (CBS.MW) -- Media and entertainment stocks headed for a rebound Tuesday morning, in step with the broader U.S. market, led by Vivendi Universal, Sony and News Corp. Vivendi (V) was up $1.03 to $25.56, a gain of 4.2 percent; U.S.-listed shares of Sony (SNE) were up $1.10, or 3 percent, at $39.55; and Rupert Murdoch's News Corp. (NWS) added 36 cents to $34.77. The limited voting shares (NWS.A) rose 52 cents, or 2 percent, to $30.55. Analyst David Mantell at Loop Capital Markets in Chicago upped his rating on News to "outperform" from "perform," and raised his 12-month price target to $40 from $38. Mantell noted that News shares are down nearly 13 percent from their Feb. 17 high, and that the company "looks stronger than it was five weeks ago." He said the sell-off opens the door to "an attractive entry point" for interested investors.

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