Wednesday, April 23, 2008

Gannett stock trading at new lows this morning

Update at 12:01 p.m. PT: The share price has now traded down a whopping 8%, to a low of $25.17, on sales volume that's nearly twice the daily average.

Shares have sold for as little as $26.45, the lowest level since spring 1995, Google Finance says.

16 comments:

  1. Quick, someone write another $1.75 million check to Dubow for the "great" job he's doing.

    Sadly, and realistically, it's going to translate into further expense cuts at the site level. Which, in turn, will result in fewer subscribers and advertisers, which in turn will result in lower stock prices, which in turn ...

    Sigh. An endless cycle.

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  2. The stock has split 2 0r 3 times since '95 so it is not a new low.

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  3. It has split once since 1995, and the prices I'm giving here reflect that split. So, this is, indeed, the lowest level since spring 1995.

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  4. Nanana...NaNaNaaa...Hey, Hey Goodbye! Goodbye Dubow and Martore. Say goodbye to your jobs.

    Pathetic performance and pathetic interview with SmartMoney. Go home Craig. Gracia....GET OUT!!!!

    You are both ruining a 100 year old company in three short years!

    OUT!!! OUT!!! OUT!!!

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  5. Stock is currently down $1.94 / share to $25.54.

    Someone send up an SOS!

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  6. First they robbed us with those 25 percent profit margins. Now they're turning into the Enron of 2008, when it comes to our 401Ks.
    What a company. What a bunch of geniuses.

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  7. Call Al. He already is on the payroll. How about $10 million to get things turned around...only $3 million more than the "boy genius."

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  8. Cut the sections from 4 to 3 and do away with Classified. And only straight pressruns...no collect runs. Outsource the executive decisions to India...disband the corporate staff. Increase the newstand price to 75 cents and $2 for Sunday. Maybe Murdock or Zell can do a better trade for the future new Gannett.

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  9. If you got your 401k report for the first quarter, you will notice on the "performance" sheet only three investment options -- bond fund, stable value fund and Dreyfus cash mgmt. fund -- posted a gain. Gannett stock, the "sugar" the company gives employees to encourage them to invest in a 401k because they don't have a pension, is down the most ... nearly 25%.

    Visit your benefits resources web site for updates!

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  10. So...Are you supporting this stock or are you worried it is tumbling down the rabbit hole? I would personally be worried. I use wizetrade.com and they don't seem to show any hope for this stock anytime soon. But then again, I'm a day trader. This may be a good buy if you're going for the long long haul.

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  11. JRC stock once at $10 did not stop once it hit $1. It slid to .25 and was delisted from the NYSE. There is little hope for any turnaround this year. Food and gas are way up. Houses in default.
    9 trillion in federal debt. The mess does not make for a good buying signal. Dubow will have to wait to buy his stock incentives. The Board will probably sit on their asses. Good capitalists that they are.

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  12. Just to make sure I understand the 401K talk correctly...the money we have in our 401K that isn't in Gannett will be safe no matter what happens to the company, right?

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  13. Any advice for someone who is still toting this piece of crap in his 401k? Sell now? Sell after the non-recession gets better? If you sell some but not all, is it "oldest first?"

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  14. Anon@6:57 p.m. wrote: "Just to make sure I understand the 401K talk correctly...the money we have in our 401K that isn't in Gannett will be safe no matter what happens to the company, right?"

    Yes, and no. The portion in your account that is "vested" -- cash, stocks, other investments you own outright -- is yours to keep, no matter what happens to the company. (Gannett stock being the exception.)

    But it's NOT safe no matter what -- if you have invested it all in, for example, a very risky technology mutual fund.

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  15. Anon@7:13 p.m. wrote: "Any advice for someone who is still toting this piece of crap in his 401k? Sell now? Sell after the non-recession gets better? If you sell some but not all, is it "oldest first?""

    I don't know whether or not you should sell. But the oldest first rule would only apply, I think, when you are withdrawing money from your 401(k). When you're simply selling/reallocating within your 401(k), there aren't any immediate income tax implications. Those come later, when you start taking money out during your retirement.

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  16. God damn. This is really depressing.

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Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."

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