July 2009 was when Salem Media Group shares last traded below $1.50. Today, everything old is new again for investors in the owner of Christian-themed and conservative talk radio properties. Could Ed Atsinger III's salary have something to do with it?
U.S. financial markets gained traction on Monday as President Trump noted China wants to restart trade talks with the U.S., and that he was optimistic about a deal that would put an end to an escalating dispute that has spooked stocks. Among the gainers on Monday: Scripps.
Two weeks ago, The E.W. Scripps Co. experienced a huge dip in its stock value, following the release of Q2 earnings results that disappointed investors. A Q2 loss was seen, compared to a Q2 2018 profit. But, that wasn't the first plunge in value for SSP, and Scripps' woes continued on Friday.
With the clock approaching Noon on the East Coast, Sinclair Broadcast Group's stock price was in a free-fall. At the Closing Bell a 2.9% dip was seen. It erases a bump in value triggered by an early May announcement that it was buying FOX's regional sports networks.
Its shares on Thursday morning were $4.72 below its 52-week high. The 24-month trend is rather bleak. That didn’t stop Beasley from declaring a quarterly cash dividend.
What's the floor for Salem Media Group? Investors may not be sure, as the media company focused on Christian-themed and conservative talk programming saw its shares dip to a fresh five-year low on Thursday afternoon. SALM is now $2 below its 1-year target estimate.
Here's a bit of news that should energize every broadcast media sales executive in America: Target Corp. hit it out of the ballpark in the second quarter, with strong earnings and an improved outlook for the second half of 2019. Investors cheered, sending Target up nearly 21%.
What if a recession were to engulf the U.S. by the end of 2020? According to Nomura Instinet analysts, companies such as Amazon, Facebook and Alphabet will be just fine. But, that's not what they're saying about Netflix. Investors reacted by selling off NFLX shares.
U.S. financial markets saw a strong rebound from last week's steep sell-off, as the Dow Jones Industrial Average improved by nearly 1% and Nasdaq saw a 1.4% improvement. What about media stocks? Cumulus Media and CBS Corp., among other companies, were up.
U.S. financial markets finished the week on a positive note, as the Dow Jones Industrial Average was up 1.2% on Friday, and the Nasdaq rose by 1.7%. For media companies, activity was mixed. But TEGNA was up big in the final 10 minutes, and Apollo Group is the reason.
Thursday's trading on Wall Street ended with the Dow Jones Industrial Average rebounding by nearly 100 points. However, Nasdaq was off 7.32 points. For media stocks, the bleeding continued yet again for Comscore. Why? It lost another C-Suite executive.
Sinclair Broadcast Group and Nexstar weren't the only media companies to experience sharp declines in share value on Wednesday. In fact, only Entravision, iHeartMedia, and Tribune Media saw gains as general indices sailed southward.
Wall Street has received an ominous omen courtesy of the bond market, which has -- as Yahoo! Finance puts it -- "flashed its brightest warning signal yet presaging a potential recession." The reaction was swift and painful, and Sinclair Broadcast Group was particularly dinged.
U.S. financial markets enjoyed a strong trading day on Tuesday. But how did media companies fare? One radio broadcasting company saw its shares improve, while another suffered a dip. Which companies are involved?
The week that was wasn't so kind for Entercom Communications. With a Q2 2019 earnings per share miss of 11 cents, compared to what Wall Street analysts expected, ETM shares plunged by 36% in value. On Monday, a further 6% slump was seen, in response to a big dividend cut.