Broadcast stocks miss out on midterm enthusiasm
Wall Street was believed to be pleased with results of the midterm elections, in which Republicans gained control of both houses of Congress. Broadcasters were up, don’t get us wrong, just not by very much.
The RBR Radio Index rose 3.25, or 0.5%, to 713.371.
The TVBR Television Index rose 0.571, or 0.6%, to 793.999.
Entravision, up 3.5%
Gray, up 3.1%
Salem, up 2.8%
Sinclair, down 3.8%
Nexstar, down 3.3%
Radio One, down 2.9%