Glass half full at half-year mark

June 30, 2009 It's been a roller-coaster ride for media and entertainment stocks in 2009, making for a mixed bag at the midyear mark as far as the industry's stock market success goes. However, that bounce has left Wall Street wondering whether some of the big entertainment stocks have gained more than is warranted given what is expected to be a drawn-out economic and advertising market recovery. Many look for the latest quarterly earnings season, which starts this month, to provide a better feel for where ad trends stand after first-quarter conference calls saw most CEOs at sector biggies talking about an ad stabilization.

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