Do not be surprised if MNI pulls a rabbit out of the hat and has a "decent" Q2 report compared to the past 12 months. Job cuts this company has undertaken will start to show up on the income statement. The firming of real estate values in some markets is starting to show up in slightly increased ad spend from realtors and builders, except in Florida. The auto business is starting to firm up as inventories are down to manageable levels and signs are looking much better than they have in a long time.
Despite my personal dislike for Pruitt, I believe this company has dodged the short term bankruptcy threat based on recent activity in the market. I think buying this stock at 50 cents per share offers a compelling chance to get a double or triple in the next 12 months. The long-term BK threat still exists, but a surprising 2Q report may do wonders for this stock in the short term.
What do you think -- is this happy talk, or a real possibility?
McClatchy's second quarter conference call is at the end of this month.
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10 comments:
Happy talk.
The overall economy might pick up steam, but this company -- and this industry -- won't. They shot themselves in the head years ago, but managed to stagger along.
They will keep firing misplaced bullets until they hit their aorta.
Happy Talk
By the time McClatchy has bankruptcy forced upon them, it will be too late. The arrogance of Pruitt to even think he is doing the right thing, has ruined any chance of recovery.
That Yahoo poster is a pumper. Corp executives and the family caused this mess.The executives need to be teleported back to 1930 where they belong and the family needs to be put in an asylum for being dumber than dumb.
Pumper is the correct term. He is running a boiler plate operation. No responsible individual would portray an upside to a company that was downgraded to a default level the previous day by two of the three credit rating agencies.
Sooner or later the bar will get lowered enough that through cannibalization and layoffs that earnings estimates will be met. What is the difference in the value of a company who's earnings are -.35 cents on the quarter and -.30 cents? Sounds like a great reason to run out and expect a double or triple to me! NOT!
Where are the trolls that slammed the Yahoo poster from last week? Why aren't thry slamming this anonymous poster?
Oh, that's right, their masters at McClatchy approve of this.
Why even ask that question to the folks the frequent this blog? Did you think you would get anything but a happy talk comment?
Let's let the results come in and then let's rail on the happy talk and pumpers. Why speculate? I guess because you can in an anonymous way so you don't look stupid or biased as McClatchy papers. I stay anonymous because I know most here would not be accepting of my views due to open-mindedness and willingness to unnecessarily bash everything MNI.
1:14, I think you stay Anonymous because of your lousy grammar. Seriously, did you proofread what you wrote?
Exactly my point. You understood what I was trying to say even though I hurried my note and may have made an error grammatically. Oh horror!
1:19, you probably said to yourself, "Hey look! Something else I can complain about!"
Pitiful. Thank you validating my previous note.
Loser.
****Loser****
Please don't call McClatchy that. They might hire hitmen to rub you out . . . or at least make fun od your dead father.
The yahoo poster saying MNI stock might be ready for a move up is not a pumper. I was the one that posted, based on what I've seen in my local MNI paper, as well as discussions I have had with a few folks in other MNI markets.
When things look bleakest is the best time to buy stocks. I've been negative on MNI stock for at least the past year, probably longer. Now that the 2nd quarter has ended the painful moves the company has made in the past year may start to show up in the financial statements.
Do not be surprised to see a better than expected 2nd quarter.
The fact that this company continues to stay out of bankruptcy is in and of itself, better than has been expected by many people, including me.
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