Discovery Shares Trading Heavy

Discovery Communications Inc. (NASDAQ:DISCK) shares are on the move today, heading into the noon hour volume has already hit 1.07 million shares traded, a 64% increase in daily volume.

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Discovery Communications (DISCK) shares are trading at $33.13, up 2.41% or $0.78 and in 2010 the stock is up 24%.  Over the past 12 months Discovery Holding Co (DISCK) shares have traded between $18.95 and its 52-week high of $34.58.  Discovery Holding Co shares are now trading with a P/E Ratio of 23.4 and EPS of 1.41.

There's two ways to invest in Discovery -- 1) Discovery Communications voting shares (NASDAQ:DISCA) or Discovery Communications Inc. (NASDAQ:DISCK) non-voting shares. Last week it was announced that DISCA would enter the Russell 3000 and DISCK (NASDAQ: DISCK) would leave the Russell 3000.

iStockAnalyst.com noted last week that Rich Greenfield of BTIG recommended DISCK as a buy while initiating on DISCA with a neutral, expecting both stocks to move to $42 on the back of strong fundamentals and an expected significant share repurchase to be announced in 2H10 (Rich posts regularly to a great blog for clients of BTIG).

Discovery Holding Co 's (DISCK) current market cap is $10.94 billion and its shares are now just -4.38% below its 52-week high.