U.S. stocks moved in different directions on Wednesday, as the Dow Jones Industrial Average climbed 46.09, to 21,374.56, and the Nasdaq Composite slipped 25.48, to 6,194.89. Among the key gainers for the media industry was Urban One. In the red was Cumulus Media, which shed 2.2% on rumors that Lew Dickey Jr.'s Modern Media Acquisition Corp. is not eyeing Cumulus but another big radio industry player.
The bulls are running on Wall Street, and with the Dow Jones Industrial Average and Nasdaq composite index each moving upward, media stocks saw big gains. Among the top performers were Veritone and Entravision.
U.S. financial markets started the week with indecisiveness, as the Dow Jones Industrial Average fell 36.30, to 21, 235.67. The Nasdaq Composite index was off 32.45, to 6,175.46. Several media stocks had strong performances on Wall Street, but the big news, concerns streaming audio company Pandora: Its shares were off 7.6% at the Closing Bell.
The Dow Jones Industrial Average climbed 89.44, to 21,271.97, on Friday, to end the week with positive momentum. Concurrently, the Nasdaq Composite index tumbled 113.85 points, landing at 6,207.92. Key climbers include a nicely rebounding Nexstar Media Group.
It may have been a mixed day on Wall Street for the two key indices, but today brought a particularly bumpy trading session for media stocks. Urban One saw a healthy gain, while iHeartMedia and SBS each saw double-digit percentage slides in their respective stock prices.
U.S. financial markets improved in Wednesday's trading, with Nexstar Media Group leading the way for media companies in a positive mid-week trading session on Wall Street. The broadcast TV company enjoyed a 4% gain. Could a potential stall of the "UHF Discount" return have anything to do with the rise? Meanwhile, Pandora shares are now at their lowest level in nearly five years.
Media companies enjoyed a mixed trading session on Wall Street today, with DISH Network nose-diving 2.4% and Pandora sinking nearly 8%, to finish at its lowest level since Nov. 2012. On the flip side, Saga Communications and Townsquare Media each ended the day with gains in their respective stock prices.
U.S. financial markets saw mostly red on Monday, in the wake of a fresh terrorist attack in Great Britain. The Dow Jones Industrial Average fell 22.25 points to 21,184.04, while the Nasdaq Composite dipped 10.11, to 6,295.68. Key decliners include Sirius XM, CBS Corp., and Cumulus Media.
U.S. financial markets finished a short trading week on an up-note, as the Dow Jones Industrial Average moved ahead 52.56 points, to 21,196.74. The Nasdaq Composite index was up 58.97, to 6,305.80. Media stocks were led by Tribune Media, while Nexstar Media Group also enjoyed a nice gain to continue a much-needed rebound for the broadcast TV company.
Nearly across-the-board gains were seen among media stocks in Thursday's trading on Wall Street. The lone exceptions: Comcast, down 0.07%; the volatile Netflix, off 0.05%; and Cumulus Media. The No. 2 radio broadcast company by number of stations saw its stock price sag by 6.8%.
Nexstar Media Group shares have seen somewhat of a decline since Sinclair's announcement that it intends to acquire Tribune Media, and the dip resumed in a big way on Wednesday.
U.S. financial markets returned from the Memorial Day holiday to see the Dow Jones Industrial Average dip 50.81 points to 21,029.47. Nasdaq was down 7 points, to 7,526.51. Key movers include Cumulus Media, Saga Communications, and Sinclair.
Nexstar shares were by 1.7% in mid-afternoon trading on Friday. The Dow Jones Industrial Average and Nasdaq Composite were both in positive territory, as well.
Beasley Broadcast Group shares jumped 10.7%, while DISH Network stock gained on continued chatter regarding a possible merger with Amazon, which is close to $1,000 a share, or Sprint.
There's a rebound — finally — at Nexstar Media Group as a swoon in the broadcast TV company's stock price climbed 90 cents, to $58.80, after several sessions of downward activity. Salem Media Group also saw its shares improve in today's trading.