Shares of newspaper publishers slid Thursday after several companies -- including McClatchy Co. and Gannett Co. -- reported lackluster January revenue results.
Lehman Brothers analyst Craig Huber said in a client note that McClatchy's monthly results were softer than expected. The analyst lowered his price target to $6 from $8, reduced his 2008 profit estimate to $1 per share from $1.15 per share and cut his 2009 forecast to 85 cents from $1 per share.
Thursday, February 28, 2008
Analyst: McClatchy's January decline "worse than expected"
AP:
