Wall Street remained in a cheery mood Friday as the Dow Jones Industrial Average closed at 14,395.76 — up just +0.5%, but still a new high. Investors were encouraged after the Labor Dept reported that the unemployment rate in February fell to 7.7% from 7.9%, the lowest its been in four years. And the good feelings spilled over to media companies. The Dow Jones U.S. Media Index was up 1.2% to its highest level in in more than a decade as companies including CBS, Discovery, and Disney set new all-time highs. CBS (+2.3%) led the Big Media pack today followed by News Corp (+2.1%), Disney (+1.9%), Viacom (+1.7%), Time Warner (+1.2%), Comcast (+0.9%), and Sony (+0.3%). Among media companies generally, Pandora was up 17.6% after last night’s better-than-expected earnings report. Others up at least 3% include Best Buy (+4.7%), DreamWorks Animation (+4.0%), Rovi (+4.0%), and Cinedigm (+4.0%). The few companies that lost ground only lost a little and included Facebook (-2.2%), National CineMedia (-0.9%), Charter (-0.8%), Cablevision (-0.1%), and Google (-0.1%).
Media Stocks Continue To Be Buoyed As Market Hits Another All Time High
What's Hot on Deadline
Telluride Announces Slate As Fest Helps Launch Awards Season With Keaton, Streep, Winslet, Mara & More