Broadcasting Stocks

On Wednesday, Urban One — the media company superserving African-Americans — revealed in an SEC filing that it and CEO Alfred Liggins III acquired all of the shares that had been held by Brigade Capital Management. A day later, investors responded with yet another massively positive trading day for UONE and UONEK.

With Urban One's meteoric rise making the most news on Wall Street today, both the Dow Industrials and Nasdaq composite indexes were on the rise. What did other media companies experience on Monday?

Ongoing economic concerns expressed by the Federal Reserve, coupled with fresh jobless claims numbers, sent the Dow Industrials sinking by 6.9% on Thursday. Nasdaq was off by 5.3%. How did media stocks fare? Carnage was seen across the board.

Many of the nation's publicly traded radio broadcasting companies enjoyed a strong start to the week on Wall Street, with Townsquare Media and Cumulus Media each enjoying particularly strong gains on Monday. Two companies lost ground.

It was only a matter of time for Nexstar Media Group shares to recover from their COVID-19 influenced slump on the Nasdaq GlobalSelect market. Who knew that the amount of time it would take for NXST to achieve that feat would be so short?

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.

U.S. financial markets were split on Thursday, as the Dow Jones Industrial Average climbed 11.93 points to finish at 26,281.82. The Nasdaq was down 67.10 to 9,615.81. How did media shares fare?

Findings from a survey conducted by Veritone in collaboration with Future Media Entertainment Group suggest a majority of television companies are "embracing" AI and view the technology as "a competitive necessity." Word of the study's findings excited investors, as Veritone stock soared by nearly 10% on roughly twice its average volume. 

Curious as to how Salem Media Group fared financially during the first three months of 2020? You'll have your answer on Monday, following the Closing Bell on Wall Street.

U.S. financial markets roared back in today's trading, as the Dow Industrials improved by 553.16 points to 25,548.27. Nasdaq was up 72.14 to 9,412.36 points, while the S&P500 gained 44.36 points, to 3,036.13.

May 26 was a banner day for Cumulus Media, as investors reacted positively to a short-term shareholder rights plan designed to stave off a hostile takeover by an entity seeking to take advantage of its abnormally low share value. By 2:10pm, shares rocketed as high as $6.32 before cooling off somewhat. Still, a 25.2% gain was seen before a small after-hours dip.

Media stocks were largely on the rise through mid-afternoon on Friday, including Townsquare Media, Sinclair Broadcast Group, Nexstar Media Group, and Cumulus Media. On the other hand, Entercom gave back a third of Thursday's gains. For live in-session trading and Friday's closing prices after 4:10pm Eastern, be sure to visit the Wall Street Report on the RBR.com homepage!

Oh, those finicky investors! One day after dipping to its second-lowest post-bankruptcy low, Cumulus Media shares exploded in heavier-than-usual trading on the Nasdaq Global Select market. Wednesday’s trading session finished with CMLS up by more than 21%.

The ViacomCBS Board of Directors has declared a quarterly cash dividend to holders of both the company's Class A and Class B common stock.

An experimental COVID-19 vaccine from Moderna Inc. has showed promising results in a tiny early-stage trial. But that, and the HEROES Act's House passage, buoyed investors on Monday, with the Dow 30 rising 911.85 points to 24,597.37 and Nasdaq surging 220.27 points to 9,234.83.