Hurricane Sandy Delays Earnings Reports for Martha Stewart, Sirius XM
Hurricane Sandy has caused some media corporations to delay reporting of earnings.
Both Sirius XM and Martha Stewart Living Omnimedia have announced that they are delaying their third quarter announcements until Thursday.
The announcements coincide with the shutdown of the New York Stock Exchange and Nasdaq. This marks the first time the NYSE has stopped trading since September 11, 2001. The financial market hasn't been closed on consecutive days since 1888, but with a storm that is expected to disrupt much of the Northeast over the next several days, it is increasingly likely that the NYSE and Nasdaq will remain closed at least through Tuesday.
Other entertainment companies scheduled to report earnings on Tuesday include Carmike Cinemas, Real Networks and Take-Two Interactive. As of 11 a.m. on Monday, none of those companies have announced any earnings postponements. On Wednesday, Time Warner Cable is also scheduled to announce its 2012 third quarter results.