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.
Wall Street Chop Suey: Yuan Dip Sinks U.S. Stocks
U.S. financial markets sank on Monday, and the reason is a big devaluation against the U.S. Dollar for China's currency, the Yuan. It's the latest chapter in an intensifying trade war between the U.S. and China, and media stocks were swept up in the red tide.
First Post-BK Earnings Call Set For iHeartMedia
Here's something we've not seen in a while: The biggest owner of AM and FM radio stations in North America has scheduled a quarterly earnings call, during which it will share its financial results for the three-month period ending June 30.
Analysts Fear A Q2 Earnings Dip For Townsquare
On Tuesday morning, Townsquare Media will offer its second-quarter earnings report. Zacks Equity Research has been chatting with Wall Street analysts on what they expect, and they aren't anticipating an earnings increase for the company focused on small and medium-sized markets.
CBS Board Declares A Healthy Dividend
If you like big dividends, perhaps acquiring shares of CBS Corp. stock over the next 60 days is of interest to you. CBS Corporation's Board of Directors on Thursday approved a quarterly dividend on the company's stock that could excite some investors.
Interest Rate Cut Result: A Big Dip For Media Stocks
U.S. financial markets were down on Wednesday after the Federal Reserve decided to lower interest rates. The Dow Jones Industrial Average was off 333.75 points, to 26,864.27. Nasdaq was off 98.19, to 8,175.42. The majority of radio and TV company stocks were also down.
Sinclair Shares Slip On ‘Contingent’ Redemption News
Sinclair Television Group has notified the trustee for its 5.375% Senior Notes due 2021 that it intends to redeem, in full, its outstanding $600 million aggregate principal amount of Notes on August 13. There's just one thing, and investors may not be happy about it.
Coming August 5: Beasley’s Q2 Reveal
With Beasley Broadcast Group continuing to struggle on Nasdaq following a recent five-year low, finishing Monday at $3.19 per share, company CFO Marie Tedesco and CEO Caroline Beasley are preparing for an August 5 of Beasley's second-quarter financial results.