Thursday, April 16, 2009

McClatchy stock trades at 4 times normal volume as newspaper stocks rally

Mini-rally for newspaper stocks on Wall Street:

  • Gannett (NYSE: GCI) up 11 cents (+3.1%) to $3.60 on heavy volume.
  • McClatchy (NYSE: MNI) increased 5 cents (+9.2%) to 59 cents in a last minute surge with more than four times the average volume trading hands. What's going on there? Short sellers? Drop us a line if you have a theory.
  • New York Times Co. (NYSE: NYT) gained 18 cents (+3.1%) at $5.92.
  • A.H. Belo (NYSE: AHC), up 39 cents (+22.5%) to $2.12.
  • Media General (NYSE: MEG) gained 43 cents (+16.9%) to $2.97.
  • E.W. Scripps (NYSE: SSP), shares advanced 6 cents (+3.1%) to $1.98.
  • Lee (NYSE: LEE) ticked up 3 cents (+7.6%) to 42 cents.


Anonymous said...

Maybe they sense a bail out, short
(teabag) squeeze, or shorts covering.

Some lib, hack, female in odumbos admin. from the la slimes, just spoke of how all newspapers should be bailed out so they continue being the publics “watchdogs.”

Though I swore she meant teabaging lapdogs.

Anonymous said...

It probably has to do with the Obama newspaper industry bailout package proposed.

No BS... Look it up !

Anonymous said...

Why the hell not include newspapers in the “Sucker Package”? Pretending they are needed as the government watchdogs, when they are nothing but leftist mouthpieces. Taking money out of the pockets of taxpayers that detest the corrupt media is something liberals would deem necessary.

2010 Throw the bums out

Pg1News said...

Nice "theories" ... but what is really going on with the stock? Just curious to know.

Anonymous said...

Tea party = ho-hum. Give it a rest. Please.

Anonymous said...

350,000+ attend Tea Party protests = Ho Hum

Obama's Black new Dog = riveting story.

What liberal media again?

Anonymous said...

Institutional unwinding. BOC (buy on close) raised the price 4 cents during settlement period, but for that volume it means that there was a seller and an short covering at the same time. Maybe a swap.

Anonymous said...
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Anonymous said...

Wow...posts jamming it to the right wing wackos on the blog get erased...but the whackos can post whatever they want....nice!

McClatchy Watch said...

11:09 -- the rules for leaving comments are pretty simple.

Next time, try "jamming it to the right wingers" without using profanity.

Anonymous said...

Profanity is out. Racism and swiping pictures from the Sacramento Bee is in.

Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...

5:02 go have a tea party with anderson pooper then

Look Around said...

>9:48 PM

If you can't observe the rules then don't play in the sandbox. The site isn't yours and you can feel free to create your own sandbox at any time as a counterpoint. That's just good sense.

As far as bailing out newspapers goes all I can say is that the Obama Administration can't afford to lose such a valuable organ. But many papers will likely fall with one or two being officially saved to serve as such. After all, Soviet Russia only had ONE Pravda. It was all that was necessary.

And finally, as 9:15 PM put it so well: frustrated and angry people don't really seem to count when there's a "dog and pony show" going on over at the White House. If that isn't "in the tank" then I don't know what is. And frankly, I find it deplorable. Not only for the interests of the country in general but for the intergrity of journalism in particular.