Another Fresh Slow For Salem Stock
What's the floor for Salem Media Group? Investors may not be sure, as the media company focused on Christian-themed and conservative talk programming saw its shares dip to a fresh five-year low on Thursday afternoon. SALM is now $2 below its 1-year target estimate.
Retail Is Dead? Tell That To Target
Here's a bit of news that should energize every broadcast media sales executive in America: Target Corp. hit it out of the ballpark in the second quarter, with strong earnings and an improved outlook for the second half of 2019. Investors cheered, sending Target up nearly 21%.
‘Netflix Shares Aren’t Recession-Proof.’ Investors Agree
What if a recession were to engulf the U.S. by the end of 2020? According to Nomura Instinet analysts, companies such as Amazon, Facebook and Alphabet will be just fine. But, that's not what they're saying about Netflix. Investors reacted by selling off NFLX shares.
Wall Street Recovery Includes Cumulus, CBS
U.S. financial markets saw a strong rebound from last week's steep sell-off, as the Dow Jones Industrial Average improved by nearly 1% and Nasdaq saw a 1.4% improvement. What about media stocks? Cumulus Media and CBS Corp., among other companies, were up.
Financial Markets Finish A Rocky Week With Big TEGNA Talk
U.S. financial markets finished the week on a positive note, as the Dow Jones Industrial Average was up 1.2% on Friday, and the Nasdaq rose by 1.7%. For media companies, activity was mixed. But TEGNA was up big in the final 10 minutes, and Apollo Group is the reason.
More Turmoil At Comscore As Another C-Suiter Departs
Thursday's trading on Wall Street ended with the Dow Jones Industrial Average rebounding by nearly 100 points. However, Nasdaq was off 7.32 points. For media stocks, the bleeding continued yet again for Comscore. Why? It lost another C-Suite executive.
Horrible Hump Day For Media Stocks
Sinclair Broadcast Group and Nexstar weren't the only media companies to experience sharp declines in share value on Wednesday. In fact, only Entravision, iHeartMedia, and Tribune Media saw gains as general indices sailed southward.
Recession Warning Triggers Stock Selloff, Impacting SBGI
Wall Street has received an ominous omen courtesy of the bond market, which has -- as Yahoo! Finance puts it -- "flashed its brightest warning signal yet presaging a potential recession." The reaction was swift and painful, and Sinclair Broadcast Group was particularly dinged.
Ups And Downs For Radio’s Biggest Players
U.S. financial markets enjoyed a strong trading day on Tuesday. But how did media companies fare? One radio broadcasting company saw its shares improve, while another suffered a dip. Which companies are involved?
Entercom Shares Slide Again On News Of Dividend Slice
The week that was wasn't so kind for Entercom Communications. With a Q2 2019 earnings per share miss of 11 cents, compared to what Wall Street analysts expected, ETM shares plunged by 36% in value. On Monday, a further 6% slump was seen, in response to a big dividend cut.
Barron’s Boost Pumps Up iHeart Stock
It's interesting what can drive the ups and downs of a publicly traded stock. On Thursday evening, a Barron's associate editor said iHeartMedia stock was "poised to climb" after bankruptcy and its upcoming Q2 earnings report. Behold, IHRT was up by nearly 5% in Monday's trading.
Townsquare Share Surge Follows Positive Q2 Report
On a day with plenty of downbeat news and stock market declines involving media companies, Townsquare Media was a shining star on Wall Street. Shares climbed 5.5% after the company bested analysts' estimates on both revenue and earnings. As a result, TSQ looks better than BBGI or ETM.
Ahead Of Fiscal Q4 Report, Meredith Declares Dividend
Within the next few business days, Meredith Corp. is expected to release its fiscal Q4 2019 earnings report. With a date still unknown as of noon Thursday, the owner of local TV stations in 12 DMAs -- presently blocked from DISH subscribers -- declared a regular quarterly dividend.
TEGNA Closes On Dispatch TV Duo and Radio Combo
On June 11 RBR+TVBR first told readers that TEGNA is adding to its stable of properties by acquiring the NBC affiliate in Indianapolis; the CBS affiliate in Columbus, Ohio; and an AM/FM combo in the Buckeye State's capital city. The deal just closed.
Comscore Stock Sinks Again, Following Big Q2 Revenue Miss
The troubles only accelerated on Wednesday for Comscore, following a dismal Q2 net revenue miss and the announcement of a partnership with a social media analytics company working with "big brands." Already devalued Comscore shares sank to just above $2.