US Media: Earnings Could Mark End to Rally in Stocks

Reuters: U.S. fund managers’ newfound love of media stocks will soon be put to the test. Shares of Time Warner, 21st Century Fox, and CBS are all up by double digits since the start of the year. That rally came in large part because fund managers jumped in after media stocks tumbled on concerns that customers were opting for web-based television platforms over cable subscriptions. Now, investors will need confirmation that the momentum can continue.