Wall Street Rebound Can’t Help iHeart


The Dow Jones Industrial Average rebounded slightly after Wednesday’s steep losses, climbing 401.13 to 24,984.55, while Nasdaq gained 209.94 to end the day at 7,318.34. A great Q3 report from Twitter propelled tech stocks, while most media issues saw modest gains. For iHeartMedia, a 9.3% dip was seen for a stock already worth pennies.

First to Twitter, which saw its shares surged 15.5% to $31.80 on news that its earnings came in at 21 cents per share on an adjusted basis, beating consensus estimates by 7 cents.

For IHRTQ, which has a debtor-in-possession ticker symbol until iHeart emerges from Chapter 11 bankruptcy protection, shares dipped by 4 cents to $0.39.

iHeart shares have been under $.50 since mid-September, and have been under $1 since Nov. 17, 2017.

Among the other key climbers are CBS Corp., which enjoyed a $1.40 gain to $54.68; Entercom, which rose 17 cents to $6.41; and Beasley Media Group, up 11 to $6.51.

Meanwhile, Salem Media Group shares closed under $3 with a six-cent dip to $2.97.

It was February 2012 when SALM shares last closed below $3.

Trading was active with 115,427 shares traded; average volume is 77,533 shares.