Broadcasting Stocks

A C-Suite shakeup resulted in the Feb. 28 departure of CEO Bryan Wiener, just hours after final approval of a Q&A appearing in RBR+TVBR's Spring 2019 print edition, and President Sarah Hofstetter. Since then, comScore shares have been in a free-fall. The bleeding continues.

Seeking Alpha has provided investors with another freshly written analysis of Entercom Communications that speaks highly of where the radio broadcasting company's stock is heading. In fact, it believes that in 18 months the stock price will be very much above where it is today.

Two weeks ago, The E.W. Scripps Co. experienced a huge dip in its stock value, following the release of Q2 earnings results that disappointed investors. A Q2 loss was seen, compared to a Q2 2018 profit. But, that wasn't the first plunge in value for SSP, and Scripps' woes continued on Friday.

Escalating trade issues, and now an NBA squabble, between the U.S. and China led investors to sell off their shares on Wall Street -- and, perhaps, the Jewish Day of Atonement. The Dow Industrials were down 1.2%, while the Nasdaq index was off 1.6%.

With its shares at $35.47 at Thursday's close of trading but significantly down from where they were in the first half of 2019, Meredith Corp.'s Board of Directors on Wednesday nevertheless moved forward with a regular quarterly dividend as company executives prepare to present on Friday at Stephens' 2019 Nashville Investment Conference.

TEGNA Inc. shares were up by nearly 4% in the final hour of trading on Tuesday, as investors largely cheered the broadcast TV company's announcement that it intends to offer $1 billion of senior notes due 2028 in a private offering.

From Kobe and his daughter to Harvey Weinstein, there are several reasons to be somber today. Then, there is Wall Street, which saw the Dow Jones Industrial Average slide a whopping 3.6% -- 1,031.61 points -- on fears of the coronavirus, which is now crippling Milan, Italy. Despite the financial fears, three radio broadcasting companies had positive trading sessions to start the week.

U.S. financial markets enjoyed another positive session, with Wall Street's major indices moving upward. Several important radio broadcasting companies also saw much-needed gains. Among those entities: Entercom.

Surprise! The U.S. economy added 2.5 million jobs in May. This, plus the likely return of NBA and NHL play-by-play in the coming weeks, gave radio industry stocks a much-needed shot in the arm. Friday's Closing Bell found Cumulus Media, iHeartMedia and Entercom all enjoying significant gains. Yet, Beasley Media Group shares were down.

With shares in the high $5 range, now may be a good time to purchase Sirius XM stock. A key Wall Street analyst just set a new target price of $7.50, and says the satellite radio operator is navigating the economy much better than expected.

Tuesday saw gains from Urban One, Salem Media Group and Saga Communications -- all of which have seen considerable struggles of late on Wall Street. Dipping were Townsquare Media Group and Nexstar Media Group, among others.

Several broadcast TV companies enjoyed upward activity on Wall Street Wednesday. Among them: Gray Television. For a glimpse at today's Wall Street Report, click "read more" now -- and be sure to visit the RBR.com homepage each business day for LIVE stock prices!

The audio media company's shares have enjoyed a slow, steady rebound since sinking to $3.35 at the height of the COVID-19 pandemic some 11 months ago. Now, Cumulus Media will reveal its fourth quarter and full-year 2020 results in exactly two weeks.

Despite a late-session rally, Audacy shares declined for the second-straight session, putting new scrutiny on a glowing seal of approval on the company formerly known as Entercom from a key Wall Street investor blog.

Add Best Buy to the list of big consumer brands that have committed to spending billions of dollars over the next four years with "BIPOC" and minority-owned "diverse" businesses. This pledge, the electronics retailer notes, "includes plans to increase all forms of spending" from nearly every corner of Best Buy — including marketing and how it advertises.