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What: Shares of multi-media entertainer Central European Media Enterprises
So what: The company just reported 24% year-over-year sales growth in the second quarter and a rare instance of positive earnings, beating estimates on both counts. This popping action has become a theme for Central European Media investors as the earnings reports in February and April produced similar reactions.
Now what: CEM's earnings may be habitually weak, but the company generates plenty of free cash and strong sales growth. That's a good thing, because the company is also saddled with heavy debt -- just like American counterparts CBS
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