Broadcasting Stocks

U.S. financial markets enjoyed another positive session on Wall Street on Wednesday, as the Dow Jones Industrial Average gained back 253.04 points to close at 24,893.49. Nasdaq was up 130.10, to 7,143.62. Among the media companies also enjoying a step in the right direction: Entercom.

U.S. financial markets headed in the right direction on Tuesday, as the Dow Jones Industrial Average gained 39.18 points, to 24,640.45. The Nasdaq composite index was up 31.55, to 7,013.51. Media issues were largely up. Townsquare Media saw an important rise, while Sinclair Broadcast Group advanced in a healthy way.

The week on Wall Street started off in a largely positive manner for media issues, as the Dow Jones Industrial Average was up 2% in the final 30 minutes of trading on Monday. While Entercom was down 2% at the Closing Bell, all other radio and TV companies tracked by RBR+TVBR were up.

Well, that was a fun week, wasn't it? The Dow Jones Industrial Average continued its rollercoaster-like activity on Friday with a 330.44-point gain to 24,190.90. Nasdaq was up 97.33, to 6,874.49. For media stocks, the week ended with many ups and downs. On the way down is Pandora Media, mired in a slump since November.

It's been a tough three months for Townsquare Media. On Oct. 30, 2017, its shares were just shy of $10.25. By Nov. 13, they cascaded to $7.01 and have struggled to make it back toward the $8 mark. With an 8-cent gain on Thursday, are "TSQ" shares on their way back from a record low experienced on Tuesday?

Mid-week trading on Wall Street saw continued volatility in the major indices, with the Dow Jones Industrial Average dipping 19.42, to 24,893.35, and the Nasdaq composite index off 63.90, to 7,051.98. For media stocks, there was much up and down activity. For one tech company that many radio industry staffers are a fan of, the news was very rosy.

Wall Street's comeback after two days of steep losses began in earnest in the final hour of trading Tuesday, as the Dow Jones Industrial Average rebounded with a 567.02-point jump to 24,912.77.  It was a volatile trading day, with activity up and down until 2:30pm Eastern, when the climb upward truly began. Nasdaq was also up, rising 148.36 points to 7,115.88. Did media companies benefit from the overall recovery effort?

Today was a good day for Beasley Broadcast Group shareholders. The radio industry pure-play enjoyed a 1.2% gain, to $12.70, as the company announced Monday that it will report its Q4 2017 results before the Opening Bell on Feb. 12. For everyone else, it was downright disastrous as the Dow lost nearly 5% of its value.

Money down the drain? Perhaps that's the case for some investors, as a wide range of radio and TV companies each suffered big losses on Wall Street to end the week. Among the most significant drops were those for CBS Corp., Veritone, Discovery Networks, Entercom, and Viacom's Class B shares. What's to blame? Or, should the question be "who"?

The rumors are true: CBS Corp.'s Board of Directors on Thursday discussed the possibility of a merger with Viacom. Official word came after CBS's board approved a quarterly dividend on the company's stock of 18 cents per share. Both conversation pieces helped CBS see a healthy gain on Wall Street in Thursday's trading. Meanwhile, investors punished Meredith Corp. following its Q4 earnings release.

If there's one company actively working with broadcast media that has seen the fiercest rollercoaster ride on Wall Street since its Initial Public Offering, that company would be Veritone Inc. The provider of AI and cognitive solutions has seen its stock soar, and retreat, and bounce up and down in various ways since September, when it first rocketed above the $20 level. As of today, it's no longer a $20+ stock.

U.S. financial markets slid ahead of President Trump's first State of the Union address Tuesday evening. The Dow Jones Industrial Average was off 362.59 points, to 26,079.89. The Nasdaq composite index declined 64.02, to 7,402.48.

It's been a less than stellar month for shares of Beasley Broadcast Group stock. On January 5, "BBGI" hit a new peak of $13.95. By January 18, Beasley shares were down by nearly $3 a share. That dip is very close to being erased as the month comes to a close.

It was another banner day for stocks in lower Manhattan, as the Dow Jones Industrial Average surged ahead 223.92 points, to 26,616.71. The Nasdaq Composite index was up 94.61, to 7,505.77. Enjoying gains on Wall Street Friday were Viacom and CBS Corp., as rumors persist that National Amusements wants the two companies back together again.

U.S. financial markets saw another mixed trading session on Wall Street, as the Dow Jones Industrial Average finished with a 140.67-point gain, to 26,392.79. The Nasdaq Composite index was down 3.89 points, to 7,411.16. The disparate movement on Wall Street extended to media companies, with several up and several down on Thursday.