Cumulus Absent From Thursday Sea Of Green
Nearly across-the-board gains were seen among media stocks in Thursday’s trading on Wall Street.
The lone exceptions were Comcast, down 0.07% to $41.66; the volatile Netflix, off 0.05% to $162.99; and Cumulus Media.
The No. 2 radio broadcast company by number of stations saw its stock price sag by 6.8%, ending at 53 cents.
The performances were the lone disappointments on a day when CBS Corp. gained 1%, to $61.73, and Entercom was up 4.4%, to $10.75. Nexstar Media Group also saw a much-needed gain, with a 1.5% jump, to $58.05, following the company’s announcement that it has a new affiliate deal with ABC that extends to “over-the-top” platforms including DirecTV NOW.
The Dow Jones Industrial Average was up 135.53 points, to 21,144.18.
Nasdaq gained 48.31, to 6,246.83.