Media Stocks Strong Since Election, Some Pullback

Although U.S. media stocks have pulled back some from their recent run-up, they continue to have score big results since the Presidential election.

Dow Jones U.S. Broadcasting & Entertainment Index is up 4.5% from the election on November 8 through December 2. It had been as high as 7%. On December 2, the index closed down 1.4% to 1,149.69.

Viacom, Discovery Communications, and 21st Century Fox were big losers on Friday -- off 2% to $36.52, 2% to $26.60, and 2.8% to $27.40 respectively.

Sirius XM was perhaps the major loser on the day, giving back 5.6% to $4.30 a share. AMC Networks also lost big -- down 3.9% to $53.10.



Some of the better-performing stocks on the day -- versus the media sector as a whole include CBS, losing 0.6% to $60.18; Time Warner, down 0.4% to $93.80; Walt Disney slipping 0.4% to $98.50, and Sinclair Broadcast Group, up 0.2% to $32.55.

Comcast pulled back 1.6% to $68.78, while Scripps Networks Interactive lost 1.8% to $68.47

Among major digital media stocks -- so called FANG stocks -- Facebook, Amazon, Netflix, and Google (Alphabet Inc.) have all been down 5% since the election. But on Friday, some stocks made back some losses.

Netflix was up 3.1% to $120.81, with Facebook 0.3% higher to $115.40. Google was down 0.2% to $765.46, while Amazon slipped 0.5% to $739.99.

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