How is MNI LOWER now than it was before GCI's good earnings news? I've now actually LOST money on MNI because I bought into the runup. *&^%!!!
Of course stock prices are always fluid and MNI shares could zoom higher. Patience, Grasshopper. I'll have the latest info for you as McClatchy prepares to report 3rd quarter earnings in 2 weeks.
McClatchy stock will go up after it releases its quarterly report. Look for more "profits" because of drastic cost cutting (layoffs). Look for corporate "optimism" and spin. But revenue again will be in the toilet. It's a shell game that eventually will collapse.
Profit of $50-60m, revenues down 15 - 18% YEAR OVER YEAR, but compared to Q1 & Q2 stable (what matters).
Remember, last year they had a bloated payroll to go along with their earnings. Sure revenues might be down compared to then, but expenses are down even further.
The real test comes in Q1 & Q2 of 2010. That is when the comps are no longer favorable. If they are still down double digits in revenue then everything and the kitchen sink is gone.
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