U.S. financial markets slumped to start a shortened week, with the Dow Jones Industrial Average declining 301.87, to 24,404.48, and Nasdaq dipping 136.87, to 7,020.36. Media issues were generally caught up in the wave of downward activity.
Do you own shares in Emmis Communications Corp.? If so, one Wall Street observer believes it is worth thinking about how it contributes to the volatility of your portfolio, overall.
Salem Media Group shareholders have endured some pain over the last six months. On July 30, SALM was priced at $5.45 per share. By New Year's Eve, they bottomed out at $2.09. Thursday's close saw a move back toward that cheerless closing price on Dec. 31.
And the hits just keep on comin' ... for Beasley Broadcast Group stockholders, that is. With Wednesday's close, the company that now owns Greater Media's former stations has a stock value last seen 2 1/2 years ago.
It's been an up-and-down first half of January 2019 for Beasley Broadcast Group stock. Actually, make that an up-and-down day for BBGI. Tuesday's trading saw Beasley break the $5 mark -- and then slide in the 3pm hour.
Ever since Townsquare Media revealed that its CEO duties come Feb. 1 will be held solely by one individual — Bill Wilson — the radio station owner's stock has been on a comeback. The company's shares climbed again on Monday.
According to Zacks Equity Research, TEGNA is one company for investors to keep their eye on. Why? Here's what they had to say about the broadcast TV company rumored to be bidding for Cox Media Group's 14 TV stations.
To honor Gray Television on completing its merger with Raycom Media, NYSE is rewarding Chairman/CEO Hilton Howell Jr. by letting him officially close the trading week on one of the world's most important financial exchanges.
On Christmas Eve, Veritone shares stumbled to a new all-time low, dipping below $4. On Thursday, a robust Q4 report was released after the Closing Bell on Wall Street. Were investors pleased? You bet, based on immediate after-hours trading.
On December 10, Townsquare Media shares were priced at $5.89. Then came a slump -- a truly bad one. Shares of TSQ fell under $4 a share. On the first day of trading of 2019, the company's stock surged. It's not stopped its ascent. Thank the exit of Dhruv Prasad as co-CEO for making investors happy.
It seems the pending exit of co-CEO Dhruv Prasad from Townsquare Media Group is great news to investors. Since the announcement, TSQ has been in rebound mode. On Tuesday, it climbed above the $6 mark.
Here's something few thought they'd see to start the first full trading week of 2019: Townsquare Media's shares are on a clear rebound, thanks to a big change in its executive ranks. In fact, TSQ has a much higher price at the moment than Beasley Media Group, a company in some of the nation's biggest markets that's mired in a big stock slump.
A surge in media industry stock values was seen on Friday, largely thanks to a highly positive employment report for December 2018 nevertheless clouded by a partial shutdown of the Federal government.
So far in 2019, with the turmoil of Les Moonves and the drama of a possible reunification with Viacom in the rear-view mirror, CBS shares are on the upswing. On Thursday, a climb was seen as the company put the onus on Nielsen to get its act together should it want a new ratings contract.
With Townsquare Media preparing to make Bill Wilson is sole CEO, investors reacted positively to the surprising announcement made prior to Wednesday's opening bell on NYSE. TSQ shares surged across the trading day, ending up 23.3% to move past the $5 mark.