Wall Street Rebound Can’t Help iHeart
The Dow Jones Industrial Average rebounded slightly after Wednesday's steep losses, climbing 401.13 to 24,984.55, while Nasdaq gained 209.94 to end the day at 7,318.34. A great Q3 report from Twitter propelled tech stocks, while most media issues saw modest gains. For iHeartMedia, a 9.3% dip was seen for a stock already worth pennies.
Tech, Broadcast Media See A Disastrous Day On Wall Street
"Tech companies lead another steep sell-off in U.S. stocks," a Associated Press headline read just before Wednesday's Closing Bell on Wall Street. Media companies were hardly immune to the big nosedive of the Dow and Nasdaq, with Viacom's Class B shares sinking 8.5%, Sinclair Broadcast Group falling 8.3%, and Nexstar sliding downward by 6.5%. On the radio side, Townsquare Media was off 5.6% as Beasley shares are now worth more than those of the company that bought CBS Radio.
DISH Dump: Stock Sag For DBS Provider
It's been a pretty lousy year on Wall Street for DISH Network. On January 8, a $49.48 finish was seen for the company's shares. Then, a slide began, bringing DISH as low as $29.08 on May 28 and, after a brief rally, back down to $30.15 on July 23. It looks like DISH is poised to match or dip below that mid-summer slide.
The Slumping Stocks Of Radio’s Big Players
Cumulus Media is no longer in debtor-in-possession status. It's a new day at the company led by CEO Mary Berner. Yet, its stock is at its lowest closing price since it emerged from Chapter 11 protection. Meanwhile, Entercom at the Closing Bell just staved off another recent low, while Beasley shares are sputtering.
Big Red Thursday For General Indices
The Dow Jones Industrial Average gave up 327.23 points, to 25,379.45. Nasdaq was off 157.56, to 7,485.14. How did radio and TV issues do? Click here for more.
Media Ups and Downs, While An OTT Goliath Soars
The Dow Jones Industrial Average fell 91.74 points to 25,706.68 in Wednesday's trading. Nasdaq was off 2.79, to 7,642.70. Broadcast media issues saw climbs and dips, while Netflix shares enjoyed a sharp rebound and are back to where they were before October 4.
Tribune Shares Recover From Post-Sinclair Slide
On July 16, Tribune Media shares nosedived after it became known that it would not be proceeding with its planned merger with Sinclair Broadcast Group. One month later, investors reassessed the situation -- and became believers in Tribune once again as it seeks a new suitor. On Wednesday, Tribune officially closed at its highest point since that unfortunate summer's day.
Market Rebounds, Cumulus Falls
U.S. financial markets rebounded sharply on Tuesday, with the Dow Jones Industrial Average climbing 547.87 points, to 25,798.42, and Nasdaq rising by 214.75 points, to 7,645.49. All media issues but three rode the positive wave. The decliners: Saga, Salem and Cumulus Media
A Fresh 52-Week Low For Veritone
On June 11, shares of Veritone Inc., which is rapidly expanding its business relationships with radio and TV broadcasting companies, reached $23.06 after a series of ups and downs seen across the first half of 2018. So far, the second half of 2018 looks quite ominous for shareholders. A 3% on Monday puts the AI-powered attribution company's stock at a new 52-week low.
Beasley Stock Dip Erases Two Years Of Gains
On December 1, 2016, Beasley Broadcast Group shares were at $6.15, and on the rise after being at $3.84 on April 1 of that year. With less than an hour to go in Friday's trading on Wall Street, nearly two years of gains in Beasley shares have been wiped out, with BBGI back where it was 23 months ago.
A Red Splatter For Media Stocks
The woes on Wall Street continued on Thursday, as the Nasdaq composite index fell 92.99 points to 7,329.06, following a steep dip on Wednesday fueled by strong losses among tech industry stocks. The Dow Jones Industrial Average shed 2.1% of its value, falling 545.91 points to 25,052.83. How did media issues fare?
Wall Street Swamped By Red Tide As Nasdaq Crumbles
As Hurricane Michael lashed Panama City Beach, Fla., and towns to the east of this onetime Spring Break haven, lower Manhattan was swept up in a wave of sell-offs in the technology and internet sector. The Nasdaq index sank by more than 4%. Impacted by the big dip: Veritone Inc., among other companies.
A Mixed Day For Media Stocks
U.S. financial markets were relatively quiet on Tuesday, as the Dow Jones Industrial Average dropped 56.21 points to 26,430.57. Nasdaq was up 2.07 points, to 7,738.02. For media stocks, activity was also mixed, with Nexstar slipping below $80 and Pandora inching toward $9.
Beasley’s Q3 Stock Ride: Not The Best
On New Year's Day 2018, Beasley Broadcast Group shares were riding high at just under $14 — record territory for the company. Beasley's stock was largely above the $10 mark for 6 1/2 months. Then came a steep dip that sent BBGI tumbling into the $6 range. Is the addition of Greater Media stations in key markets including Boston and Detroit indirectly tied to the stock swoon?
Red End For Wall Street
U.S. financial markets finished the first week of Q4 2018 on a downbeat note, as the Dow Jones Industrial Average dipped 180.43 points, to 26,447.05. Nasdaq was off 91.06 points, to 7,788.45. Media shares were mostly on the decline.