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We recently published a list of 10 Firms Kick Off Trading Week Stronger. This article delves into the performance of Fox Corporation (NASDAQ:FOX) in comparison to other firms that also experienced a positive start to the trading week.
The trading week opened with mixed results in the stock market, as investors assessed President Donald Trump’s latest tariff proposals, which are expected to impact economies globally through new import taxes.
Among the primary stock indices, the Nasdaq was the only one to post a decline, down by 0.14%. In contrast, the Dow Jones Industrial Average experienced significant gains, increasing by 1%, while the S&P 500 rose by 0.55%.
Despite the overall market’s downturn, ten individual stocks managed to perform well, closing in positive territory amid a swirl of corporate news that spurred investor interest.
This article highlights Monday’s top stock performers and explains the factors that contributed to their success.
To compile this list, we focused on stocks with a market capitalization exceeding $2 billion and a trading volume of at least $5 million.
Fox Corporation’s Performance on Monday
Fox Corporation saw its share prices climb by 3.42% on Monday, closing at $56.60, as investors reacted positively to the company’s announcement of attracting 125 new blue-chip advertising partners since the recent U.S. election.
In a recent interview, FOX’s President for Ad Sales, Jeff Collins, stated, “Historically, after an election, networks will see ratings dips. However, we have noted an increase in ratings that coincided with new advertisers entering the fold.”
Following a notable advertising withdrawal in 2018, which saw major companies like T-Mobile cease advertisements due to controversial remarks made by former host Tucker Carlson, Fox has now regained advertisers. Procter & Gamble also paused their ads on Carlson’s show but returned to the network in 2023 after his departure.
Collins indicated that the network is capitalizing partly on the decline of traditional television viewership, as audiences shift their preference towards online platforms.
Overall, FOX ranks 8th on our list of firms that commenced the trading week with strength. Although we recognize the potential of FOX as a worthwhile investment, we believe that certain AI stocks may offer greater opportunities for yielding higher returns in a shorter timeline. For those seeking promising AI stock alternatives comparable to FOX, check out our insights on the cheapest AI stock.
Source
finance.yahoo.com