Thursday, August 14, 2008
Layoff campaign powers GCI stock up almost 11%
Updated at 4:40 p.m. ET: Buoyed by news of Gannett's plans to whack 1,000 newspaper jobs -- including 600 through layoffs -- investors bid up GCI's stock today: Shares closed at $21.31, up $2.05, or 10.6%. That far exceeds the S&P-500 Index's gain of less than 1%, Google Finance says. In late trading, however, shares fell 3.3%.