Friday, December 03, 2010

Stock | Ahead of UBS conference, GCI jumps again; pattern follows year-ago rally, when it soared 20%

Gannett's stock continues to rise today, Google Finance says, in advance of management's presentation next week to Wall Street media stock analysts during an annual industry-wide conference.

GCI recently traded for $14.47 a share, up 36 cents, or 2.6%. Shares have been rising throughout the week on unusually high sales volume. Shares are now up 12% from a week ago vs. a far smaller 2.4% rise in the S&P 500 index, a widely followed broader measure of overall market activity.

Yesterday, 8.1 million shares changed hands, after 6 million on Wednesday, and 5.5 million Tuesday. The daily average has been 4.1 million, according to Google Finance. (Historical prices.)

On Wednesday at the UBS Global Media and Communications Conference, GCI and other media companies are scheduled to update analysts on results so far in the current quarter, as well as answer questions about ongoing initiatives. GCI is webcasting its 9 a.m. ET presentation to the public.

Last year at this point, GCI soared nearly 20% in the four trading days leading up to the UBS meeting. That began a steady march higher through the spring, when shares peaked at $19.69 on April 16.

Related: GCI's executive statements at last year's event

No comments:

Post a Comment

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."

Note: Only a member of this blog may post a comment.