Broadcasting stocks outperformed on so-so day – 2/10/11


Tech giant Cisco Systems surprised Wall Street with its quarterly results – and it wasn’t a good surprise. But stocks rebounded from their lows of the day as Egyptian President Hosni Mubarak agreed to hand over power, ending weeks of uncertainty. So, the market ended mixed. The Dow Jones Industrial Average slipped 11 points, or 0.1%, to 12,229, but the S&P 500 and Nasdaq Composite were up slightly. But while the broader market was indecisive, broadcasting stocks were up strongly.

The RBR Radio Index was up 6.613, or 1.8%, to 375.795.

The TVBR Television Index was up 11.452, or 4.8%, to 250.020 – an all-time record.

ACME, up 17.1%
Entercom, up 16.7%
Beasley, up 9.2%

CC Media, down 7.1%
Emmis, down 5.4%
Westwood, down 3.8%