“The Dark Knight” swept the weekend box office but it couldn’t save Time Warner Inc.’s stock price on Monday. The Batman film from Warner Bros. took in approximately $155.3 million, yet the media group’s share price fell more than 2 percent Monday to $14.36. “We say, ‘Wait a second, the biggest movie of the year — why isn’t Time Warner moving up?’” Jim Cramer said on CNBC. “They’re not ready for FiOS, and one movie isn’t enough.” It also doesn’t help that the company is having trouble selling AOL, said some analysts, who noted that the Web portal’s value is on the decline. Analysts are now looking to Aug. 6, when Time Warner will report second-quarter earnings, for further indications of strategy.
July 22, 2008