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
Trending Now on Deadline
'Black-ish', 'Grey's Anatomy', 'Castle', 'The Goldbergs', 'Modern Family', 'Once Upon A Time' & Others Get Extra Episodes At ABC
More From Lieberman
- AMC Networks And BBC Chiefs On The Future Of BBC America
- AMC Networks Pays $200M For 49.9% Of BBC America
- Amazon Shares Fall After Q3 Losses Exceed Expectations
- Is Wall Street Starting To Doubt That Comcast-Time Warner Cable Deal Will Close?
- UPDATE: Comcast Says HBO And CBS Online Plans Won't Upset TV Ecosystem: Live Blog
- Streaming Cash: Redbox Reports Losses From Its Joint Venture With Verizon