A Big Jump For Cumulus On Q3 Earnings Preview


The unusual and surprising release of preliminary Q3 earnings results from Cumulus Media was met with an immediate response from Wall Street investors: Buy! At one point in the first 30 minutes of trading, Cumulus shares were up 100%. At the closing bell, they finished with a 57.7% improvement.

This puts “CMLS” at 50 cents — still far below the $1 threshold for staying on Nasdaq. However, Cumulus has appealed this decision, and with a relatively healthy pre-Q3 earnings report distributed prior to the Opening Bell on Wall Street today (10/26), a shift to an Over-The-Counter market could possibly be thwarted should positive growth continue to be seen in subsequent trading sessions.

Cumulus will reveal its official Q3 2017 operating results at approximately 7:30am Eastern on Nov. 9 and will host a conference call to discuss the results at 8am Eastern that day.

Other notable climbers among media companies on Thursday include Beasley Broadcast Group, Nexstar, Saga Communications, and Urban One. 

For a complete look at today’s closing prices please visit the Wall Street Report at the homepage of RBR.com.