CBS, Nexstar Give Back In Tuesday Trading


It was a down day for two big broadcast TV companies, as CBS Corp. and Nexstar Media Group each saw respective declines on Wall Street Tuesday (5/2).

For Nexstar, shares dipped 3.4%, to $64.75, on double the amount of trading it sees on average.

However, it is likely a small hiccup for Nexstar, as its shares have soared in the last six months. On Nov. 3, 2016, NXST shares were at $47.20.

Meanwhile, CBS closed down 1.5%, to $65.67, as the company readies the release of its Q1 2017 results on Thursday (5/4).

CBS shares have also been on a steady climb over the last six months. Shares were at $55.50 on Nov. 3, 2016.

In other activity, TEGNA was down 2.1%, to $25.23, while The E.W. Scripps Co. declined 2.9%, to $21.28. Gray Television also had a down day, dipping 4.7%, to $13.77.

On the radio side, Cumulus Media and iHeartMedia each saw respective rebounds.

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