The stock market continued to move lower on Wednesday, driven by a big increase in consumer prices that raised new fears of inflation.
However, even on the worst down days, there are always some stocks that manage to shine.
The company pointed to 78 million households that are still using old-style legacy cable and pay television services, and it believes that those customers are ripe for the taking.
Streaming video has been a disruptive force in entertainment, and television is just the latest area in which companies are seeing massive change.
Meanwhile, Occidental Petroleum saw its shares climb almost 7% Wednesday morning.
The fundamentals for the energy industry in general have gotten a lot better recently, and today continued some of those positive trends.
Meanwhile, the closure of the Colonial Pipeline has led to widespread gasoline shortages and even complete outages across much of the southeastern U.S., running from Virginia and Tennessee south to Florida.
Occidental’s earnings report on Tuesday morning showed positive cash flow but continuing weakness in production volumes and ongoing losses.