(Updated with closing prices.) The company's stock closed today at $13.73 a share, down $1.12, or 7.5% -- a steeper decline than overall market indicators. The Dow Jones Industrial Average ended the day down 323 points, or 3.2%, and the S&P 500 index was down 38 points, or 3.4%. (Historical prices.)
The Wall Street Journal said: "A weak reading of private-sector job growth in the U.S. and fresh worries about the euro-zone economy sparked broad selling in stocks and solid gains in Treasurys and the dollar as investors went on the defensive."
Friday, June 04, 2010
10 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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The feared double-dip is here, and it is going to be back to furloughs and staff cuts before too long. I think this company is in very fragile shape and cannot sustain much more in the way of cost-cutting.
ReplyDeleteRumors abound at Crystal Palace that more furloughs and staff cuts are well indeed on the way as top management continues to keep stuffing its pockets.
ReplyDeleteAh, the pro-Jim drones, trying to sound as if they know what they are talking about and trying to scare people.
ReplyDeleteThanks for stopping by, Robin and Gracia, as you watch that stock drop.
ReplyDeleteSaradikas cashed out when the stock was high. Just shows how brilliant this guy was, and how much we miss his input.
ReplyDeletePoor jobs growth in private employment is bad for papers because it suggests weakness in companies. That may signal trouble for their advertising budgets. And.....
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ReplyDeleteSaradikas or his extremist fan strikes again with a praiseworthy post. If he was so great he wouldn't have fled.
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ReplyDeletehaha its because of the overall market not by poor gannett balance sheet
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