Comcast's ( CMCSA) gleaming image shatters as competition drags the cable giant into a price scuffle.The Philadelphia cable shop
Analysts were looking for an 18-cent profit on sales of $7.76 billion. The company added 489,000 new digital cable subscribers in the latest quarter but lost 65,000 basic cable users. The company added 450,000 high-speed Internet customers and 662,000 phone users. To some degree, the economy is a concern, broadband as a market might be getting mature, and competition is getting stiffer, says the investment manager. "People thought this was a high-quality double-digit growth company and now they find out its growth will be less than expected," says the money manager. But he thinks today's move in the stock "might be an over-reaction." Comcast shares fell $2.39, or 10%, to $21.46 in midday trading Thursday.