Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Time Warner is trading north, but not for long

Time Warner is up 1.5%  following Q1 results that kept drawing on strength at HBO and saw a 7%-plus revenue gain at Turner Broadcasting as well.

Turner benefited from the airing of the annual NCAA Men's Basketball Tournament, and the company secured broadcast rights through 2032. Foreign exchange had an unfavorable impact of $115M on revenues, but EPS rose 25%, according to Seeking Alpha.

Revenues by segment: Turner, $2.91B (up 7.2%); Home Box Office, $1.51B (up 7.8%); Warner Bros., $3.11B (down 2.8%). Adjusted operating income rose 9.8% at Turner, to $1.24B, and increased 6.1% at HBO, to $486M. Warner Bros. operating income, meanwhile, jumped 29% to $426M.

Shares are up today, but if we look at technical picture, the recent rise is overstretched. I bet the stock price will suffer correction in next few weeks