Wall Street Weak: Tepid End To Turbulence


U.S. financial markets ended the week with a whimper on Friday (3/3), as the Dow Jones Industrial Average inched ahead 2.74, to 21,005.71, while the Nasdaq Composite index grew by 9.53 points, to 5,870.75.

The day’s biggest headline continued to involve Snap Inc. The parent of Snapchat received a whopping $500 million investment from NBCUniversal, and the digital and social player’s stock jumped 10.7% in its second trading session since its sensational IPO on Wednesday.

Tribune Media grew by 53 cents, to $37.35.

Viacom improved 19 cents, to $42.31, while Nexstar improved by $1.50, to $72.30.

CBS Corp. enjoyed a $1.09 jump, to $68.24.

Meanwhile, Cumulus Media shares stopped their significant downward slide … by staying put. CMLS shares were unchanged at the closing bell on Friday, at $0.62.

Lastly, Saga Communications on Friday saw its Board of Directors declare a quarterly cash dividend of $0.30 per share. The dividend will be paid on April 14, 2017 to shareholders of record on March 28, 2017. The aggregate amount of the payment to be made in connection with the quarterly and special dividends will be approximately $1.8 million. The quarterly cash dividend will be funded by cash on the company’s balance sheet.

Coming Monday, March 6: A whole new way to follow media stocks!