Strong Start To New Trading Year
The first trading session of 2017 was a powerful one for media stocks, as the Dow Jones Industrial Average climbed 119.16, to 19,881.76. Nasdaq increased 45.97, to 5,429.08. Among the many gainers was Viacom, which climbed 2.7%, to $39.55 in a healthy start to the new year. Tribune Media also gained 2.7%, to $35.94, while Saga Communications improved by 1%, to $50.80. Netflix jumped ahead nearly 3%, to $127.49, while The Walt Disney Co. grew 1.8%, to $106.08, as Star Wars origin film Rogue One continued to pace the North American box office this weekend.
The RBR Radio Index rose 14.028, or 2.35%, to 609.914.
The TVBR Television Index rose 1.129, or 0.11%, to 985.994.
Cumulus, up 5.9%
Radio One, up 5.2%
SBS, up 2.6%
Entravision, down 4.3%
Nexstar, down 0.7%
Media General, down 0.1%