Mixed Messages On Wall Street


Mid-week trading ended with a mixed bag of activity on Wall Street, with a Wednesday trading session that saw the Nasdaq composite climbing 13.56, to 5,863.03, while the Dow Jones Industrial Average dipped 118.79, to 20,404.49, and the S&P500 slipped 4.02, to 2,338.17.

It was a decisively challenging session for SBS, as the Hispanic-targeted media company saw its shares fall another 12.5%, to a paltry 49 cents per share.

Volume was a whopping 748,238 shares; normal trading volume is 27,294 shares.

With its market cap at $3.56 million, SBS still has not yet released its Q4 and full-year 2016 earnings. It is still not certain as to when the delayed results will be filed with the Securities and Exchange Commission.

Third Avenue Management holds some 15.4% of SBSAA shares. An additional 7% is held by Renaissance Technologies.

Meanwhile, the troubles continue at Cumulus Media, which saw its shares dip to 23 cents at Wednesday’s Closing Bell.

For a complete look at today’s stock performances for publicly traded media companies of importance to you, please visit the Wall Street Report at the homepage of RBR.com.