Stocks fell Friday on foreclosure ruling – 1/7/11


Bank stocks tumbled Friday after the top court in Massachusetts voided two home foreclosures. Also, the Labor Department’s monthly jobs report was weaker than expected, even though the national unemployment rate went down. The Dow Jones Industrial Average was down 23 points, or 0.2%, to 11,674. Broadcasting stocks, however, were mixed.

The RBR Radio Index was down 2.190, or 0.7%, to 336.876.

The TVBR Television Index was up 3.619, or 1.7%, to 223.477.

ACME, up 19.8%
Radio One, up 5.6%
Emmis, up 1.4%

Cumulus, down 3.6%
Westwood, down 3.1%
LIN, down 2.5%