• by Wayne Friedman , June 6, 2018

On one of the best days for the stock market in two months, legacy/traditional media stocks added higher prices, while newer digital stocks showed lackluster results.

Dow Jones Industrials Index was up 1.4% to 25,146.39, with the S&P 500 Index up 0.9% to 2,772.35 and Nasdaq 0.7% higher to 7,689.24.

At the same time, two media stock indexes over-performed -- Dow Jones U.S. Broadcasting & Entertainment Index, which added 2.4% to 1,176.29, and Dow Jones U.S. Media Index, which rose 2.2% to 797.86.

Three major pay TV providers saw gains: Dish Network, 5.8% to $31.12; Comcast Corp., 3.8% to $32.27; and Charter Communications, 3.4% to $275.09.

TV-media content groups that showed growth include: Discovery, 3.9% to $22.36; Viacom, 2.3% to $27.69; and Walt Disney, 2% to $101.91. Other groups that showed improvement included AMC Networks, 1.5% to $59.17; Time Warner, 1.6% to $94.92 and CBS, 0.8% to $50.64.

TV station groups also rose: Sinclair Broadcast Group, 1.8% more to $28.45; Tegna, growing 2.3% to $10.51; and Nexstar Media Group, up 2.2% to $67.50.

Groups that showed smaller gains included CBS, up 0.8% to $50.64; 21st Century Fox, gaining 0.6% to $39.30; Tribune Media, up 0.2% to $36.22. 

At the same time, the FANG stocks -- Facebook, Amazon, Netflix, and Google -- remained the same or went lower. Facebook lost 0.8% to $191.34; Amazon -- virtually unchanged -- was down 0.04% to $1,695.75; Netflix rose 0.5% to $367.45; and Google (Alphabet) slipped 0.4% to $1,146.95.