Broadcasting Stocks

Cumulus Media, the radio industry's second-biggest player by number of stations, on Thursday afternoon released lackluster Q4 and full-year 2016 results. Investors responded on Friday by sending shares of CMLS down 16.6%.

Media stocks drowned in a sea of red on Wednesday, as a host of publicly traded media companies saw deep drops in their stock value. Among the key movers was Cumulus Media, which sank by 25.6% to finish the day at 29 cents a share. Also off ahead of tomorrow's release of their Q1 2017 earnings results is iHeartRadio.

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.

It was a difficult Wednesday for most publicly traded media companies, as the Dow Jones Industrial Average reached a new high while the Nasdaq composite index was down slightly. Among the big dippers on Wall Street were Pandora Media, Sinclair, TEGNA, and Townsquare Media. There was one gainer: iHeartMedia. Why? It's made a coupon payment on $1.7 billion in 14% unsecured notes due 2021.

Artificial intelligence as a tool for broadcast media's sales teams is gaining attention not only from the C-Suites of TV and radio companies, but from Wall Street. Thanks to some positive press and key partnerships, Veritone stock has dramatically soared in just the last five days. With company executives in Amsterdam for IBC2017, their return to the U.S. should be a giddy one. They can thank Dalet, Barron's, and financial house Jeffries.

U.S. financial markets largely retreated in mid-week trading on Wednesday, as the Dow Jones Industrial Average fell 112.30 points, to 23,329.46, and the Nasdaq composite index dipped 34.54, to 6,563.89. Media stocks weren't immune to the overall dips, as Viacom once again lost ground.

While Spanish Broadcasting System (SBS) Chairman/CEO Raul Alarcón Jr. holds the controlling interest in the Hispanic-focused multimedia company, there is a publicly traded "stub" that is very similar to iHeartMedia's "stub" of shares. While iHeartMedia has its share of troubles with lenders regarding its outstanding debt, SBS has had its fair share of financial concerns, too. Now, shareholders may be revolting.

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.

U.S. financial markets finished another turbulent week on Wall Street in strong fashion on Friday, with the Dow Jones Industrial Average climbing 440.53 points, to 25,335.74, on a strong jobs report released prior to the Opening Bell. Nasdaq was up 132.86 points to 7,560.81. Media stocks were largely on the rise.

Despite a strong recovery for the Dow Jones Industrial Average and Nasdaq, a pair of broadcast TV giants once again struggled to see gains on Wall Street. At the Closing Bell on Thursday, both Nexstar Media Group and Sinclair Broadcast Group were in the red.

On May 18, Emmis Communications stock soared to its highest closing price since March 2015. After some profit taking, the company's shares finished a short Memorial Day holiday week on an up note. Meanwhile, a robust recovery for Urban One shares is worth noting.

Nexstar Media Group shares rocketed upward in the 10am hour Wednesday following the release of a Reuters report that suggests buyout firm Apollo Global Management has expressed interest in acquiring the company. Nexstar in early 2017 completed its merger with Media General as has seen steady growth over the last five years. Now, its stock is at a record high and one financial analyst declared Tuesday that it's a buy.

Disappointing Q2 2018 results from Veritone Inc. pummeled the AI tech company's stock on Tuesday. On Wednesday, the hemorrhaging continued. When all was said and done, the company's share value retreated to levels not seen in a year, wiping out all gains.

The third quarter of 2018 is officially over Sunday, but most businesses are tallying up their final numbers this afternoon. For Nexstar Media Group, Q3 is one for the record books — at least if one were to look solely at its performance on Nasdaq.