Big Stock Day Gains, TV Stocks Flat

On the biggest day of the year for the stock market, media stocks generally did not participate much.

Dow Jones Industrials index was up 1.4% -- a 331-point gain to 24,272. Other big gains came to financial, energy, and technology stocks. The prospect of a tax-reform bill gaining approval helped push stocks higher.

By way of comparison, two other Dow Jones media indexes didn’t participate much: Dow Jones U.S. Broadcasting & Entertainment was down 0.2% to 1,241; Dow Jones U.S. Media index was also lost 0.2% to 834.

CBS was down 1% to $56.02, while Disney was off 0.4% to $104.82; 21st Century Fox lost 0.6% to $31.92; Sinclair Broadcast Group was 0.5% lower to $34.00; Dish Network gave up 1.2% to $50.65; AMC Networks was down 0.9% to $51.54; and Viacom slipped 0.4% to $28.32

Slight upticks were seen by some, with Discovery Communications adding 0.8% to $19.02; Scripps Networks Interactive (which has a deal to be bought by Discovery), gaining 0.5% to $81.84; Comcast Corp. 1% higher to $37.56; Nexstar Media Group up 0.6% to $67.90; and Time Warner up 0.7% to $91.51.

Two big digital media/tech stocks were generally higher: Facebook rose 1.2% to $177 and Amazon grew 1.3% to 1,176. Other digital stocks dipped: Google (Alphabet), slipped 0.1% to $1,036, while Twitter was down 1% to $20.57.

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