Gannett's stock closed moments ago at $17.56, down $1.11 a share, or nearly 6%, as newspaper stocks swooned during a day when markets overall fell on worries over Europe's growing debt crisis.
The news stocks were hit harder, however. Shares in the New York Times Co. fell 7.3%, to $10.45. News Corp., which owns The Wall Street Journal, fared a little better, closing at $17.98, down 3.3%. The S&P 500 Index, a broader measure of overall stock market activity, fell 2.3%. The Dow Jones Industrial Average closed down 213 points, or 1.9%, Google Finance says.
Tuesday, April 27, 2010
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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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Still up 16.63% for 2010. That's what happens when the market sells off --profits get taken by the nervous nellies where they have outsized profits to take.
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