Media investors ended the week on a cheery note after the market recorded its strongest rally since early May. The benchmark Standard & Poor’s 500 closed the day +1.9% following a better than expected jobs report for July as well as indications that the European Central Bank will take more aggressive steps to address the continent’s debt crisis. That contributed to a 2.1% increase in the Dow Jones U.S. Media Index — a 52-week high for the group which is up 25.5% over the period. Big Media stocks also hitting 52-week highs on Friday included CBS (+6.1% following a relatively strong Q2 earnings report last night), Time Warner (+1.8%), Comcast (+1.4%) and News Corp (+1.4%). Others in the group also did well including Sony (+3.6%), Viacom (+3%), and Disney (+1.6%). Media stocks with the biggest gains included Carmike (+9.8%), Entercom (+9.5%), Rovi (+8.9%), Cumulus (+8.1%), and LIN TV (+6.9%). The handful of companies losing ground included A.H. Belo (-1.6%), Cinedigm (-1.5%), Crown Media (-0.6%), and Outdoor Channel (-0.5%).
Media Stocks Join Wall Street Rally Over Hopeful Signs About Jobs And Europe
What's Hot on Deadline
Jared Kushner Repeats "I Did Not Collude" Doctrine In Rare Public Speech After Meeting With Senate Intel Staff
'Dunkirk' Takes Box Office By Storm With $55.4M No. 1 Spot For $105M+ Global Opening; 'Valerian' $23.5M Start - Int'l Box Office
Latest Film News
- Dome Karukoski To Helm J.R.R. Tolkien Biopic
- PalmStar Media Closes Near $12M National Lampoon Deal; Can Laugh Brand Regain Luster?
- Cinema Audio Society Sets 2018 Awards Date, Timeline
- Toronto Fest Announcement To Kick Off Oscar-Season Guessing Game: Who Will Be In Or Out?
- Universal Hits $4B In Global Box Office For Second Time In Its History
- Sarah Paulson Joins M. Night Shyamalan’s ‘Glass’