Speculation that a major central bank will help to stimulate the global economy contributed to a roughly 2% gain in the market in mid-afternoon trading, pushing stocks back into positive territory for 2012. The Dow Jones U.S. Media Index is up 1.6% and the SNL Kagan Media and Entertainment Index is +1.9%. News Corp, up 3.5%, is enjoying the biggest jump among Big Media companies. It’s followed by Sony (+2.7%), Comcast (+2.1%), Viacom (+1.9%), Time Warner (+1.8%), CBS (+1.6%), and Disney (+1.1%). Elsewhere in media, LIN TV, Coinstar, and Entercom are up more than 6%, while Lionsgate and McClatchy are up at least 4%. Even Facebook is enjoying a rare bounce: It’s up 4.5%, but still off 29% from its IPO price last month. The day’s few decliners include Barnes & Noble (-1.4%), Cinedigm (-1.3%), and Sinclair (-1.0%).
Media Stocks Join Wall Street Rally On Optimism About Economic Relief
What's Hot on Deadline
Latest Film News
- Josh Brolin Opens Up About Death Of ‘Deadpool 2’ Stuntwoman Joi “SJ” Harris
- Sex Abuse Silence Is Over, But Even The Academy Is Entitled To A Defense
- ‘Straight Outta Compton’ Director Received Multiple Threats From Suge Knight, Court Records Claim
- ‘Boo 2! A Madea Halloween’ Reaps $21M+ During October Dumping Ground At The B.O.
- Harvey Weinstein Has “Different Recollection” Of Events In Lupita Nyong’o Op-Ed
- APA Agent Tyler Grasham Fired From Agency Following Sexual Assault Allegations