Potential COVID-19 Vaccine, Possible Stimulus Dollars Boost Stocks


An experimental COVID-19 vaccine from Moderna Inc. has showed promising results in a tiny early-stage trial. But that, and the HEROES Act’s House passage, buoyed investors on Monday, with the Dow 30 rising 911.85 points to 24,597.37 and Nasdaq surging 220.27 points to 9,234.83.

How did media stocks fare?

Every company except Salem Media Group and SBS was in the green.

For Nexstar Media Group, it was a banner day, with a $5.69 jump in value, to $78.57.

Highlights include The E.W. Scripps Co. ($8.30, up $0.79), TEGNA ($10.88, up $0.75), and Sinclair Broadcast Group, which shot up $1.47 to $17.05 on speculation its Chicago Cubs-focused Marquee Sports Network has finally reached a carriage agreement with Xfinity.

Among radio companies, Entercom shares were up 15.5% — to $1.27. Cumulus Media shares rose $0.10, to $3.43. And, iHeartMedia was up $0.42, to $7.15.