Updated. The stock dived 13.6% today, closing at $11.37 -- down $1.79 a share -- on rapidly worsening investor expectations for quarterly revenue as consumer spending and confidence dim further.
Gannett's tumble came as the widely watched Dow Jones Industrial Average plunged 733 points; other major indexes fell, too. The Associated Press says: "Stocks fell on a combination of disheartening economic data, including a big drop in retail sales and a Federal Reserve report that said tight credit conditions are hurting businesses across the country."
Gannett's stock has now fallen 25% in the past five days alone, Google Finance says. That pressures CEO Craig Dubow to revise the company's strategy, amid speculation that he's asking newspaper publishers to cut spending as much as 7.5% -- and possibly more.