It was a banner day for the Dow Jones Industrial Average, as the index hit a record high following testimony on Capitol Hill Wednesday from Federal Reserve Chair Janet Yellen suggesting that the U.S. economy warrants tighter monetary policy.
It wasn’t such a great day for Cumulus Media shares, which slid nearly 6%. But, the stock price isn’t nearly as low as it was in late April.
With the DJIA closing at 21,532.14, rising 123.07 points, and Nasdaq up 67.87, to 6,261.17, Cumulus shares dipped to 41 cents on lower-than-normal volume.
Cumulus has been mired in the 40 cent range since mid-June, and remains well above its anemic April, when shares tumbled to as low as 23 cents.
Meanwhile, it was a good day for iHeartMedia, with shares rebounding 9.3%, to $1.65.
For a full look at today’s closing prices, and for a live look at the stock prices of all media industry companies on Wall Street throughout each trading day, simply visit the Wall Street Report on the homepage of RBR.com.