NEW YORK (
reached a 52-week high of $42.12 this morning.
"I don't know why it's up so strongly today when a lot of other shares are down," said analyst David Joyce of Miller Tabak.
Approximately 1.06 million shares had traded hands by 11 a.m. today, not far from the average 30-day volume of 1.6 million shares.
CEO Mark Hollinger recently sold 77,000 shares at $39.09, a total $3 million worth of shares.
Tomorrow investors and analysts will tune in to hear the company's president and CEO David Zaslav present at the Bank of America and Merrill Lynch media, communications & entertainment conference in Newport Beach, Calif., which will be streaming live on
Discovery's investor Web site
On Tuesday, Discovery was rated as one of the top 100 companies for working mothers according to
Working Mother Magazine
. It was the 11th time the company made the list.
Discovery owns and operates a number of television brands, such as Discovery Channel, TLC, Animal Planet, as well as the Web site HowStuffWorks.com.
The stock's year to date performance is up almost 32%, while shares are up around 3% today to $40.54.
-- Written by Theresa McCabe in Boston.
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