U.S. financial markets finished a short trading week on an up-note, as the Dow Jones Industrial Average moved ahead 52.56 points, to 21,196.74. The Nasdaq Composite index was up 58.97, to 6,305.80. Media stocks were led by Tribune Media, while Nexstar Media Group also enjoyed a nice gain to continue a much-needed rebound for the broadcast TV company.
Nearly across-the-board gains were seen among media stocks in Thursday's trading on Wall Street. The lone exceptions: Comcast, down 0.07%; the volatile Netflix, off 0.05%; and Cumulus Media. The No. 2 radio broadcast company by number of stations saw its stock price sag by 6.8%.
Nexstar Media Group shares have seen somewhat of a decline since Sinclair's announcement that it intends to acquire Tribune Media, and the dip resumed in a big way on Wednesday.
U.S. financial markets returned from the Memorial Day holiday to see the Dow Jones Industrial Average dip 50.81 points to 21,029.47. Nasdaq was down 7 points, to 7,526.51. Key movers include Cumulus Media, Saga Communications, and Sinclair.
Nexstar shares were by 1.7% in mid-afternoon trading on Friday. The Dow Jones Industrial Average and Nasdaq Composite were both in positive territory, as well.
Beasley Broadcast Group shares jumped 10.7%, while DISH Network stock gained on continued chatter regarding a possible merger with Amazon, which is close to $1,000 a share, or Sprint.
There's a rebound — finally — at Nexstar Media Group as a swoon in the broadcast TV company's stock price climbed 90 cents, to $58.80, after several sessions of downward activity. Salem Media Group also saw its shares improve in today's trading.
Media stocks enjoyed both gains and losses in a Tuesday trading session on Wall Street that saw the Dow Jones Industrial Average gain 43.08 points, to 20,937.91, and the Nasdaq Composite grow by 5.09, to 6,138.71. Taking a big move downward is Cumulus Media. Could investors be doubting discussions that Lew Dickey Jr. and his Modern Media Acquisition Corp. are plotting a merger?
U.S. financial markets enjoyed a stellar start to the week, as the Dow Jones Industrial Average climbed 89.99 points, to 20,894.83. The Nasdaq Composite improved 49.92, to 6,133.62. Among the big movers on Monday was Cumulus Media, as chat concerning a possible takeover from a Lew Dickey-led blank check company continues.
There was lots of green for media companies on Wall Street today, as the Dow Jones Industrial Average surged 141.82, to 20,804.84, and the Nasdaq Composite increased by 28.57, to 6,083.70. What companies fueled the gains?
Heads up, CBS Corp. shareholders. The company's board of directors has given the OK to a quarterly dividend payable on July 1. The news came during a stellar trading session for CBS and on a day where Sumner Redstone relinquished his voting role on the CBS board.
Media stocks largely benefited from an overall recovery on Wall Street from Wednesday's trading—the worst session seen this year. With less butterflies in the stomach over President Trump and future economic policy, the Dow Jones Industrial Average climbed 56.09, to 20,663.02. The Nasdaq Composite was up 43.89, to 6,055.13. The buzz among media companies? Sirius XM. It seems they're having chats with struggling Pandora about a takeover once again.
It was a brutal day for investors as Trump Administration worries spread their way to U.S. financial markets. Yet, two media companies saw improvements as the Dow Jones Industrial Average sank 372.82 points, to 20,606.93, and the Nasdaq Composite slid 158.63, to 6,011.24.
Cumulus Media rode a wave of positive momentum after a good Q1 report was released after Monday's Closing Bell on Wall Street, as its shares climbed 22.5%, to 38 cents, in today's trading. At the same time, iHeartMedia shares rose 5.8%, to $2.18. The gains came in a mixed overall session that saw TV companies slump again.
What's going on at Nexstar? On March 1, its shares were at $73.15. Today, they're under $57. Are investors concerned that the company's merger with Media General isn't enough, and that it needs another huge deal to keep up with Sinclair?