Among the S&P 500’s biggest fallers on Friday November 08 was News Corporation (NWSA). The stock experienced a 3.15% decline to $12.90 with 6.65 million shares changing hands.
News Corporation started at an opening price of 13.26 and hit a high of $13.46 and a low of $12.62. Ultimately, the stock took a hit and finished the day at $0.42 per share. News Corporation trades an average of n/a shares a day out of a total 588.11 million shares outstanding. The current moving averages are a 50-day SMA of $n/a and a 200-day SMA of $n/a. News Corporation hit a high of $14.66 and a low of $10.65 over the last year.
News Corporation is a media conglomerate with large presence in the U.S, the U.K., and Australia. Key brands include The Wall Street Journal, Herald Sun, and The Times. The company also has a strong presence in the Australian pay-TV market through Fox Sports and Foxtel (both 65%-owned), while its 62%-owned REA Group is the dominant real estate classified business in Australia.
With its headquarters located in New York, NY, News Corporation employs 28,000 people. After today’s trading, the company’s market cap has fallen to $7.59 billion, a P/S of n/a, a P/B of 0.83, and a P/FCF of n/a.
For all the attention paid to the Dow Jones Industrial Average (DJIA), it’s the S&P 500 that’s relied on by insiders and institutional investors. It represents the industry standard for American large-cap indices.
The Dow is made up of just 30 stocks to the S&P 500’s 500, and it uses an unreliable and outdated price-weighting system where the S&P 500 relies on market cap in weighting its returns. This is why its long-term returns is a much more reliable gauge for the performance of large- and mega-cap stocks over time.
