NEW YORK (TheStreet) -- Comcast (CMCSA) shares spiked, up 1.1% to $53.22, following the U.S. Supreme Court ruling against broadcast television Internet service Aereo that could put the company out of business and protect the content of broadcast networks.
The Supreme Court ruled against Aereo by a 6-3 margin, stating that the company has to pay licensing fees if it wants to use broadcast networks content.
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Aereo was launched last year and charged subscribers $8 a month to receive broadcast network programs on their mobile devices.
Justice Stephen Breyer, who wrote the majority decision in the case, stressed that the ruling does not "discourage the emergence or use of different kinds of technologies."
TheStreet Ratings team rates COMCAST CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate COMCAST CORP (CMCSA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins."