Urban One suffered a 9% dip in its share price, while iHeartMedia was off nearly 2% on word that, as of 5pm Wednesday, just 0.6% of the outstanding existing notes have been tendered. That is the same percentage as seen in early June.
U.S. financial markets experienced a rather tepid trading session on Thursday, as the Dow Jones Industrial Average slipped 12.74, to 21,397.29, and Nasdaq inched ahead 2.73, to 6,236.69. Among the highlights in the media sector was another move in the right direction for Pandora Media.
U.S. financial markets exhibited a split personality on Wednesday as the Dow Jones Industrial Average slid 57.11, to 21,410.03, while the Nasdaq composite climbed 45.92, to 6,233.95. Driving the momentum for media industry stocks was Veritone. The company, which on Tuesday released its first Q1 earnings since its recent IPO, surged 6.1%. Also up were CBS and Cumulus.
U.S. financial markets slid on Tuesday, as the Dow Jones Industrial Average dipped 61.85, to 21,467.14, while Nasdaq dropped 51.10 points, to 7,472.71. While streaming audio company Pandora stemmed its steep slide in its stock value seen in recent days with a 1.6% rebound, and iHeartMedia gained 2.9%, all media stocks fell—some sharply.
It was a strong start to the week for major indices on Wall Street Monday, as the Dow Jones Industrial Average soared 144.71 points, to 21,568.99, and the Nasdaq Composite index gained 87.25, to 6,239.01. But, it was a poor day for Pandora Media, as the struggling streaming audio company's stock fell another 1.3%. It was also a downbeat day for Cumulus Media.
U.S. financial markets ended the week on a mixed note, as the Dow Jones Industrial Average climbed 24.38, to 21,384.28, and the Nasdaq composite index slipped 13.74, to 6,151.76. The day's big news on Wall Street involves the blockbuster $13.7 billion acquisition plan that would see Amazon acquire Whole Foods Market. Big percentage moves were also seen from Cumulus Media and iHeartMedia.
U.S. financial markets sailed southward into the red on Thursday, as the Dow Jones Industrial Average dipped 10.96, to 21,363.60, and the Nasdaq composite index fell 33.39, to 6,161.61. Among the key media companies seeing movement, iHeartMedia suffered a 8.3% drop. It was also a worrisome session for Pandora.
U.S. stocks moved in different directions on Wednesday, as the Dow Jones Industrial Average climbed 46.09, to 21,374.56, and the Nasdaq Composite slipped 25.48, to 6,194.89. Among the key gainers for the media industry was Urban One. In the red was Cumulus Media, which shed 2.2% on rumors that Lew Dickey Jr.'s Modern Media Acquisition Corp. is not eyeing Cumulus but another big radio industry player.
The bulls are running on Wall Street, and with the Dow Jones Industrial Average and Nasdaq composite index each moving upward, media stocks saw big gains. Among the top performers were Veritone and Entravision.
U.S. financial markets started the week with indecisiveness, as the Dow Jones Industrial Average fell 36.30, to 21, 235.67. The Nasdaq Composite index was off 32.45, to 6,175.46. Several media stocks had strong performances on Wall Street, but the big news, concerns streaming audio company Pandora: Its shares were off 7.6% at the Closing Bell.
The Dow Jones Industrial Average climbed 89.44, to 21,271.97, on Friday, to end the week with positive momentum. Concurrently, the Nasdaq Composite index tumbled 113.85 points, landing at 6,207.92. Key climbers include a nicely rebounding Nexstar Media Group.
It may have been a mixed day on Wall Street for the two key indices, but today brought a particularly bumpy trading session for media stocks. Urban One saw a healthy gain, while iHeartMedia and SBS each saw double-digit percentage slides in their respective stock prices.
U.S. financial markets improved in Wednesday's trading, with Nexstar Media Group leading the way for media companies in a positive mid-week trading session on Wall Street. The broadcast TV company enjoyed a 4% gain. Could a potential stall of the "UHF Discount" return have anything to do with the rise? Meanwhile, Pandora shares are now at their lowest level in nearly five years.
Media companies enjoyed a mixed trading session on Wall Street today, with DISH Network nose-diving 2.4% and Pandora sinking nearly 8%, to finish at its lowest level since Nov. 2012. On the flip side, Saga Communications and Townsquare Media each ended the day with gains in their respective stock prices.
U.S. financial markets saw mostly red on Monday, in the wake of a fresh terrorist attack in Great Britain. The Dow Jones Industrial Average fell 22.25 points to 21,184.04, while the Nasdaq Composite dipped 10.11, to 6,295.68. Key decliners include Sirius XM, CBS Corp., and Cumulus Media.