Media Stocks Mixed On Inauguration Day

On the day of Donald Trump's inauguration as the President of the United States, investors registered little change or mixed results for media companies.

Dow Jones U.S. Broadcasting & Entertainment Index was 0.7% higher to 1,241.53, with Dow Jones Media Index up 0.6%  to 835.12.

The biggest loser on the day was Dish Network, down 2.5% to $60.14; TV station group Tribune Media gave back 1.4% to $28.49; and Twitter -- one of Trump’s favorite media tools -- slipped 1.2% to $16.59.

Other smaller losses were registered for Facebook -- off 0.4% to $127.07; Scripps Networks Interactive, down 0.3% to $74.14; Discovery Communications, giving back 0.4% to $27.88.

On the flip side five traditional media companies -- Fox, CBS, Sinclair Broadcast Group, Viacom, and Comcast Corp. were up 1% or more. Fox, added 1% to $30.09; CBS, 1.4% to $63.49; Sinclair, added 2.4% to $32.25; Viacom also added 1.1% to $40.23; and Comcast, adding 1.4% to to $73.60.

Two big digital media companies -- Netflix and Google -- were virtually unchanged: Netflix was down 0.1% to $138.60 and Google [Alphabet], up 0.5% to $828.16. Walt Disney was also in the unchanged range: 0.3% to $107.64.

Overall, Dow Jones Industrials Index inched up 0.5% to 19,827.25.



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