Broadcast stocks fall on soft retail sales – 1/6/11


It had been expected that major retailers would come up short of previous expectations for December sales after the month concluded with a paralyzing blizzard for the Northeast. Nonetheless, Wall Street reacted negatively to the actual reports from retailers on Thursday. The Dow Jones Industrial Average fell 26 points, or 0.2%, to 11,697. And while the S&P 500 also fell, the tech-heavy Nasdaq Composite was up, so it was officially a mixed market. Broadcast stocks were hit hard by the retail sales reports.

The RBR Radio Index was down 5.837, or 1.7%, to 339.066.

The TVBR Television Index was down 7.325, or 3.2%, to 219.858.

SBS, up 3.2%
CBS, up 1.4%
Arbitron, up 0.6%

ACME, down 20.9%
CC Media, down 8.9%
Salem, down 4.1%