Obama’s Support of STB Plan Adds to ‘Overhang’ on Cable Tech Stocks

The White House’s public backing of FCC Chairman Tom Wheeler’s plan to create new rules aimed to open up the retail market for set-top boxes adds to the “overhang” faced by Arris and other cable equipment stocks, but won’t necessarily make a material impact on them, an industry analyst believes.

President Obama’s support of the plan didn’t wreak havoc on shares in Arris, now the world’s largest set-top box maker following its 2014 acquisition of Motorola Home and the recently completed merger with U.K.-based set-top maker Pace plc. Shares in Arris closed at $22.19 on Friday, down 31 cents (1.38%) for the day.

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