Monday, December 1, 2008

Analyst: newspaper stocks haven't hit bottom yet

Fitz and Jen:
Newspaper stocks were on the rise last week but Wachovia Equity Research senior analyst John Janedis warns don't be taken. "Beware of head fakes and false starts -- fundamentals yet to bottom," he wrote in note to investors today. The late Thanksgiving this year will hurt ad revenue, Janedis wrote and he backs it up with ad page counts for The New York Times and The Wall Street Journal.
I'm looking for a link to the Wachovia report.
.
.

6 comments:

Anonymous said...

McClatchy joining up with the Christian Science Monitor to use the religious group's foreign news offerings. So why not use Pat Robertson's Christian Newtwork News as well?

Anonymous said...

Instead of Christian Science Monitor, what about the Washington Times foreign stories. If Christian Science is okay, why not the Rev. Moon?

Anonymous said...

It's OK... they have been partnered with Al Jazeera for some time now.

Archer05 said...

At seekingalpha.com: Good questions from analysts, not the liberal news choir.
--------------------
-The McClatchy Company F3Q08 (Quarter End 9/28/08) Earnings Call Transcript-
Analysts
John Janedis - Wachovia Capital Markets LLC [and others]
Q & A with Gary Pruitt.
http://tinyurl.com/6a9bs7

Page 7
John Cornright-
“Once the headcount reduction plan that you announced recently is out of the way, what will the total headcount for the company be?
Gary B. Pruitt
It would be between 10,000 and 11,000 employees company-wide.
John Cornright
That’s post the recent plan?
Gary B. Pruitt
Yes. In the low end of that range; a little over 10,000.

McClatchy Watch said...

Archer05 - thanks, that is good info.

Anonymous said...

Where does the headcount stand now?