NEW YORK (TheStreet) -- Time Warner Cable Inc. (TWC) reported a massive network outage that shut down Internet services to some 11 million customers on Wednesday, prompting New York state to launch an investigation, Reuters reports.
The outage affected 2% of all U.S. Internet networks, according to Renesys, a firm that monitors global Internet activity
Time Warner Cable said services were "largely restored" by 6 a.m and "a majority, if not all" were back on line as of 8 a.m.
Shares of Time Warner Cable are slightly higher at $147.06.
TheStreet Ratings team rates TIME WARNER CABLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIME WARNER CABLE INC (TWC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, growth in earnings per share, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."