Newspaper Stocks To Watch: The New York Times Company(NYSE:NYT), The McClatchy Company(NYSE:MNI), and Gannett Co., Inc.(NYSE:GCI)
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The New York Times Company(NYSE:NYT) gained $1.08 during yesterday’s trading, a 9.63% increase in value that places the stock at a closing price of $12.30. The increase in value is a strong recovery for one of the most famous American newspapers, which closed at a new 52 week low of $11.22 on Sept. 30th. The New York Times Company(NYSE:NYT) had a trading volume of 4.01 million yesterday, a figure which is over five times higher than its three month average volume of 0.69 million. The company recently announced it would be cutting 100 newsroom jobs.
The McClatchy Company(NYSE:MNI) rose one cent to reach a closing price of $3.37. The stock has fallen $2.43 since finishing at a three month closing price high of $5.80 on July 3rd, 2014. The McClatchy Company(NYSE:MNI), a California-based company which operates 30 daily newspapers in fifteen states, recently announced that it had closed its sale of its 25.6% stake of Cars.com to Gannett. The stock is highly liquid, with a bid price of $2.76 x 100 and an offer price of $4.30 x 100.
Gannett Co., Inc.(NYSE:GCI) suffered a 1.55% loss in value yesterday as the stock fell forty-six cents, moving to a new closing price of $29.21. The company has a market capitalization of $6.69 billion and 225.65 million tradeable shares. Gannett Co., Inc.(NYSE:GCI), which, as previously mentioned, acquired the rest of Cars.com from The McClatchy Company for $1.8 billion, had a trading volume of 2.67 million yesterday, a figure which is 0.84 million higher than its three month average volume of 1.83 million.
I have a confession to make – I am not always right. Sometimes, unfortunately, I will send alerts that experience losses.
I have alerted companies that rallied 100% or even 6,000% (not even joking) in under a week. Likewise, I have alerted companies that tanked 10, 20, sometimes even as much as 30 or 40%. However overall it is about the net result that delivers profits into your portfolio.
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