Did Saga Jump Thanks To Trump?

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Strange days, indeed. Most peculiar, mama.


Those lyrics are from a John Lennon tune, and could easily describe the divergent activity seen on Wall Street Thursday.

The Dow Jones Industrial Average soared another 218.19, to 18,807.88.

But, the Nasdaq composite index was off 42.28, to 5,208.80.

Tech stocks hit the skids, with Apple down 2.8%, to $107.79; Amazon off 3.8%, to $742.38; and Netflix declining 5.5%, to $115.42.

Why?

It seems investors shifted their dollars from technology to more Trump-like categories such as defense.

Meanwhile, Saga Communications was the star performer among media stocks, rising $2.14 a share, to $44.64.

Could it be that Saga has a strong presence near Fort Campbell, Ky., and that the company benefited from the tech-to-defense trend seen on Thursday?

On the TV side, investors continued to express their approval of Nexstar’s solid Q3, sending shares up $4.05, to $55.05.

 

The RBR Radio Index rose 6.405, or 1.16%, to 559.471.
The TVBR Television Index rose 22.906, or 2.64%, to 888.909.

Gainers

Nexstar, up 7.9%
Saga, up 5.0%
Entravision, up 5.0%

Decliners

SBS, down 3.1%
Fox, down 1.1%
Cumulus, down 1.0%

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Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.