The company’s stock closed at $18.50 today, up $1.13 a share, on heavy volume: 6.9 million shares vs. the 5.1 million daily average, Google Finance says. GCI’s 6.5% jump was three times the 2.1% rise in the widely watched S&P-500 Index. Most of the newspaper stocks I watch finished higher today. Still, Gannett had the second-best performance after Washington Post Co.; its shares rose 6.7%.
September 8, 2008 at 9:02 PM |
looks like the sector was up today , as well. usually that means someone somewhere wrote a positive piece about media companies. But hey whatever the reason, its a positive.
September 9, 2008 at 3:51 AM |
If you look at the INFLATION ADJUSTED INDUSTRY REVENUE FIGURES back to 1982, you see that “Real” Revenues are dow approzimately 41% from their 2000 peak of 62 Billion. Worst of all the Year-over-Year percentage declines are actually ACCELERATING. Look at Alan Mutter post on NewspaperDeathWatch.com. The trend is INESCAPABLY DOWN!! Debt makes it even worse, because of Covanents that trigger non-insolvency defaults. Check value of newspaper company debt obligations for a more accurate picture of Long-Term Value.
September 9, 2008 at 10:26 AM |
Well also it is gannetts x diviend date on wendnsday. I wish I had gotten in last thursday at about $17.00. Wish me luck it does not drop like last time I got in the stock I am down 10% this year. I like to see a down trend the week of the diviend.