This blog is mainly about the spectacular train wreck at The Sacramento Bee and its parent company, the McClatchy Company. But I also post about current events, the Iraq and Afghanistan wars, politics, anything else that grabs my attention. Take a look around this blog, hope you enjoy it.
Monday, August 3, 2009
McClatchy stock up 21% on heavy volume
McClatchy (MNI) shares are trading at $2.77 a share as of 12:12 EST -- up 21% on the day. More than 3.3 million shares have changed hands. . . .
18 comments:
Anonymous
said...
Gary Pruitt was overhead this morning: "Hell, those layoffs really turned our stock around. Let's double our current layoff projection numbers for the fourth quarter! My bonus is assured if we get up to $4 a share by Christmas!"
I have to give him credit for a successful misinformation campaign. Easy to do when you give no guidance to your earnings and allow no questions at your conference call.
Of course he is just postponing the inevitable, but who cares if he takes a few more suckers down with him.
Although I do not see a reason for it to be up (maybe it is a PE ratio of 5?) it is a pleasant surprise to quiet you guys down...oh wait, what the hell am I talking about...look at our obligatory first poster.
At this rate it will only have to average in the low $1 range for the rest of the week and they have (at least temporarily) become compliant with the delisting problems.
What's amazing that you crackpots who were whining about the low stock price and bankruptcy by June 1st, then July 1st, then July 31 still continue to complain when in fact the stock is up sharply in the past few weeks. I get it, so stop right now. It was already low to begin with. That's why I bought 1,000 shares for like $400.
I am sure that many of you whiners are the same people that would complain about too many taxes if you won the lottery.
I have never whined about low stock price. I welcome it. I am excited to see the MNI stock price plummet because I think MNI is a malignant cancer on the body politic of this country. But...the stock price is a reflection of what investors think about the prospects for MNI. Right now they think that cost cutting will outrun the debt load and falling ad dollars. It sucks to be an employee in this world of relentless cost cuts to prop up corporate salaries and bonuses. It sucks to be a profitable newspaper caught up in the MNI craziness. It sucks to be a subscriber who is required to pay more for less. But the market is kind to those who bought low and can sell before the stock heads lower. I would not trumpet your joy too loudly. There are a lot of other people who might not be so happy to know that MNI is profiting at their expense.
Update from Gary's palatial suite: "Gnarly stocks dude! Let's do double layoffs, furloughs AND vacation burn. That should get 'er up to $5 a share by Christmas!"
Revenue declines seemed to have leveled off. Now we just have to learn to do business in the new world of less. And some revenue increase WILL occur. I don't think anyone is deluded enough to expect a revenue bonanza.
What a relief we laid off so many right-wing whining journalists that we don't have to pay salary and benefits to anymore. That will keep the overhead down as we make less revenue.
No it won't. Not without becoming a quasi government surrogate like GE/NBC or PBS. You jacked your prices between 50/100% and came up with a 2.9% gain. Your Internet advertising is shrinking and Print ads are dying the death of a thousand cuts. Combine that with CareerBuilders NEW master, UnitedWeWork.org, a conglomerate supported by some of the most successful fortune 50 companies in the world and the only direction for your revenues is, DOWN DOWN DOWN.
But that is ok. Fanboy says, REVENUES DONT MATTER!
When they start talking about "doing well in the new world of less" you know they are Democrats. Can't you just see Carter pulling his Mr. Rogers sweater around his narrow little shoulders and talking about our malaise? How did that work out?
My new price target is $8.50 within the next 12 months. Massive short-covering with increasing volume meams the momentum will continue up. As painful as the 35% staffing cuts have been for all involved, the market reaction has been positive. The leading indicators in the economy all seem to be pointing in the right direction. Accumulate shares for a 250-300% gain in the next year
If you ever need a definition for a pump and dump prostitute, please look at the entry above. If you believe him, look in the mirror for the definition of gullible fool.
I have a friend who bought several thousand shares of Ford for 1.15 and it's at 8.45 now. People willing to take a risk can get rich. The stock market is a crapshoot not a sure bet.
18 comments:
Gary Pruitt was overhead this morning: "Hell, those layoffs really turned our stock around. Let's double our current layoff projection numbers for the fourth quarter! My bonus is assured if we get up to $4 a share by Christmas!"
I have to give him credit for a successful misinformation campaign. Easy to do when you give no guidance to your earnings and allow no questions at your conference call.
Of course he is just postponing the inevitable, but who cares if he takes a few more suckers down with him.
Guess you guys were wrong...YET AGAIN.
Although I do not see a reason for it to be up (maybe it is a PE ratio of 5?) it is a pleasant surprise to quiet you guys down...oh wait, what the hell am I talking about...look at our obligatory first poster.
At this rate it will only have to average in the low $1 range for the rest of the week and they have (at least temporarily) become compliant with the delisting problems.
We are now defining successful as not being delisted.
Amazing... no wonder the democrats want to continue their choke hold on public education.
What's amazing that you crackpots who were whining about the low stock price and bankruptcy by June 1st, then July 1st, then July 31 still continue to complain when in fact the stock is up sharply in the past few weeks. I get it, so stop right now. It was already low to begin with. That's why I bought 1,000 shares for like $400.
I am sure that many of you whiners are the same people that would complain about too many taxes if you won the lottery.
the stock price is not the issue, that is irrelevant.
without a stop in revenue decline the company is still toast.
I have never whined about low stock price. I welcome it. I am excited to see the MNI stock price plummet because I think MNI is a malignant cancer on the body politic of this country. But...the stock price is a reflection of what investors think about the prospects for MNI. Right now they think that cost cutting will outrun the debt load and falling ad dollars.
It sucks to be an employee in this world of relentless cost cuts to prop up corporate salaries and bonuses.
It sucks to be a profitable newspaper caught up in the MNI craziness.
It sucks to be a subscriber who is required to pay more for less.
But the market is kind to those who bought low and can sell before the stock heads lower.
I would not trumpet your joy too loudly. There are a lot of other people who might not be so happy to know that MNI is profiting at their expense.
$2.70 when many people were buying it at $37 or more? Yeah, it has a while to go.
Update from Gary's palatial suite: "Gnarly stocks dude! Let's do double layoffs, furloughs AND vacation burn. That should get 'er up to $5 a share by Christmas!"
Deeper cuts are the only thing that will bouy those stock to $5 bucks a share. Xmas is going to be revenue hell for the media and retailers.
Amazing... no wonder the democrats want to continue their choke hold on public education.
We have too. Without people like the McClatchy Tycoon Fanboy and his thousand shares of MNI, all our donations would be from overseas.
Revenue declines seemed to have leveled off. Now we just have to learn to do business in the new world of less. And some revenue increase WILL occur. I don't think anyone is deluded enough to expect a revenue bonanza.
What a relief we laid off so many right-wing whining journalists that we don't have to pay salary and benefits to anymore. That will keep the overhead down as we make less revenue.
And some revenue increase WILL occur.
No it won't. Not without becoming a quasi government surrogate like GE/NBC or PBS. You jacked your prices between 50/100% and came up with a 2.9% gain. Your Internet advertising is shrinking and Print ads are dying the death of a thousand cuts. Combine that with CareerBuilders NEW master, UnitedWeWork.org, a conglomerate supported by some of the most successful fortune 50 companies in the world and the only direction for your revenues is, DOWN DOWN DOWN.
But that is ok. Fanboy says, REVENUES DONT MATTER!
hahahhahhahahahah!
When they start talking about "doing well in the new world of less" you know they are Democrats. Can't you just see Carter pulling his Mr. Rogers sweater around his narrow little shoulders and talking about our malaise?
How did that work out?
My new price target is $8.50 within the next 12 months. Massive short-covering with increasing volume meams the momentum will continue up.
As painful as the 35% staffing cuts have been for all involved, the market reaction has been positive. The leading indicators in the economy all seem to be pointing in the right direction. Accumulate shares for a 250-300% gain in the next year
If you ever need a definition for a pump and dump prostitute, please look at the entry above. If you believe him, look in the mirror for the definition of gullible fool.
I have a friend who bought several thousand shares of Ford for 1.15 and it's at 8.45 now. People willing to take a risk can get rich. The stock market is a crapshoot not a sure bet.
From Miami and guess what? I knew you, Jay.
Hey 8:59 give me a call sometime at 253-370-9575 and we'll catch up.
Jay
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