Artificial intelligence as a tool for broadcast media's sales teams is gaining attention not only from the C-Suites of TV and radio companies, but from Wall Street. Thanks to some positive press and key partnerships, Veritone stock has dramatically soared in just the last five days. With company executives in Amsterdam for IBC2017, their return to the U.S. should be a giddy one. They can thank Dalet, Barron's, and financial house Jeffries.
Publicly traded broadcast TV companies experienced a tough session on Wall Street today. Is CBS Corp. Chairman/CEO Les Moonves to blame? Moonves appeared on CNBC, and also at the Goldman Sachs Communacopia conference in New York, and touted CBS Sports' delivery methods, focus on scores and news, and NFL football. The result? CBS shares slid, as did those for other big TV players.
With a declaration that he's not concerned about ratings for 2017-18 National Football League telecasts, CBS Corp. Chairman/CEO Les Moonves doubled down on his company's sports delivery mission by saying his network will focus on news and scores and not on analyst discussion and debate with the launch of a sports-focused OTT service. Investors yawned, and sold off their CBS shares.
Saga Communications today announced that its Board of Directors declared a quarterly cash dividend that's quite sizable, continuing a healthy give-back trend for the newly pure-play media company. The declaration came a day after Salem Media Group announced a quarterly cash distribution that's much smaller in value.
It's been a banner September on Wall Street for Newport Beach, Calif., based Veritone Inc., which is bringing radio and TV broadcasters the power of using artificial intelligence to expand advertising opportunities through audio and visual cognition software. On Tuesday things got even bigger, thanks to a partnership with Wazee Digital on media asset management tools.
U.S. financial markets moved ahead on Monday, as the Dow Jones Industrial Average rose 1.15% to 22,057.44. The Nasdaq composite index gained 1.13%, ending the day’s trading session at 6,432.26.
As of 5pm Eastern on Aug. 16, an aggregate amount of approximately $45.5 million of Existing Notes — representing approximately 0.6% of outstanding Existing Notes — had been tendered into the Exchange Offers. That paltry percentage hadn’t budged for weeks, and it looks like little movement has been seen since.
U.S. financial markets were largely mixed on Thursday, as the Dow Jones Industrial Average fell 22.86 points, to 21,784.78, and the Nasdaq Composite index climbed 4.55 points, to 6,397.87. For media companies, the movement was decisively downward.
While the overall markets were up, it was a bruising session for Spanish Broadcasting System (SBS), which today released a statement repudiating the recent claims made by SAG-AFTRA regarding alleged anti-union actions purported to have been undertaken at its radio facilities in Los Angeles.
While worries regarding North Korea's most recent tests of a weapon of mass destruction could be impacting the global financial markets, media stocks were down sharply on Tuesday. Some believe it is tied to The Walt Disney Co.'s aggressive acceleration of a shift to streaming TV, led by its ESPN unit.
Broadcast TV companies enjoyed a mid-afternoon rebound on Wall Street Friday, with The E.W. Scripps Co. and Nexstar Media Group each enjoy upward momentum as investors eyed the Closing Bell and the Labor Day weekend.
It was bruising Thursday trading session for publicly traded television companies, and the Mouse House may have them trapped in a downward spiral under the spell of nervous investors. That's because The Walt Disney Co. is reportedly set to cut 300 jobs from ABC, and O&O stations are a part of the downsizing plan.
U.S. financial markets finished mid-week trading on an up-note, as the Dow Jones Industrial Average improved 27.06, to 21,892.43 and the Nasdaq composite index grew by 66.42 points, to 6,368.31. Among the big movers involved in broadcast media was Veritone, which reached a new post-IPO high with a very healthy gain.
U.S. financial markets enjoyed an overall boost on Wall Street today, with the Dow Jones Industrial Average improving 56.97 points, to 21,865.37. The Nasdaq composite index inched ahead 18.87 to 6301.89, as the S&P 500 gained 2.06, to 2446.30. Key movers among companies in the media space include Veritone. The company's stock soared 14% for its best finish since launching its IPO.
U.S. financial markets finished Monday's trading on a tepid note as Wall Street looked toward Houston, and the potential impact of flooding on various publicly traded companies. The Dow Jones Industrial Average inched downward by 5.27 points, to 21,808.40. The Nasdaq composite was up 17.37, to 6283.02, while the S&P 500 was up 1.19 to 2444.24. Key movers among media companies were Townsquare Media and Saga Communications.