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
'Hidden Figures' Calculates $25M+ Weekend, But Why Are So Many Movies Bombing Over MLK? - Monday AM Update
Latest Film News
- ‘Tower’ Survivors Embrace Animation Approach, Director Keith Maitland Says – TCA
- Isabelle Huppert Adds Another Honor As Oscar Noms Loom
- Gerald Levin To Donald Trump On Rep. John Lewis: Have You No Sense Of Decency, Sir?
- ‘Hidden Figures’ Calculates $25M+ Weekend, But Why Are So Many Movies Bombing Over MLK? – Monday AM Update
- Cannes Film Festival Re-Elects Pierre Lescure As President; Lionsgate Inks Deals For ‘Kicking & Screaming’…
- Oprah Winfrey, Van Jones & Ava DuVernay Talk Politics At Netflix Exec’s Home