Analyst downgrades McClatchy (MNI) shares

McClatchy (MNI) keeps getting hammered. Today, Wachovia lowered its rating on McClatchy News to Market Perform from Outperform, on concerns that the California and Florida markets could weaken further. Yikes! After hitting a one-year high of $41.00 in February, the stock hit a one-year low of $9.29 last week.