Thursday, May 06, 2010
Bulletin: In broad market rout, Gannett down 4.3%; Dow Jones Industrial Average plunges 348 points
Company shares closed moments ago at $15.59, down 70 cents, or 4.3%, as stock markets overall tumbled on growing worries over the debt crisis in Europe. GCI had traded as low as $14.12 before recovering. At the close, Gannett's performance was worse than broader stock market indexes: The S&P 500 and the Dow Jones Industrial Average both dived 3.2%. At one point, the Dow was down by nearly 1,000. (Updated at 4:10 p.m. ET.)
3 comments:
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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WOnderful story. Friday carnage to come. Further proof that Saridakis was smarter than other corporate execs who held onto their stocks.
ReplyDeleteIs this a forecast of the expected double-dip in the recession? If so, are we facing more layoffs, freezes and furloughs? This is coming at a very bad time for this company.
ReplyDeleteWhat we're feeling is the meltdown in Greece and its spread elsewhere in Europe. The Euro is taking a beating, and that's not necessarily good news for the dollar!
ReplyDeleteWhat happens today can be critical. An upturn in the market could calm things over the weekend. If the drop continues today, it'll feed negativity right through Monday.
Regardless of numbers, formulas, charts, etc...Emotions rule the day.