Gannett tumbled 11.25% during the session, shaving $1.18 off its share price to close at $9.31 a share. It price, adjusted for splits and dividends, hasn't been that low since October 1990.
Gannett is scheduled to release its third-quarter results on Friday morning. Based on the weak revenue figures already released by The McClatchy Co. and Media General, Wall Street is clearly not expecting good news from the nation's largest newspaper publisher.
Friday, October 24, 2008
Gannett stock hits 18-year low
Stock prices for Gannett Co., owner of the Springfield News-Leader, hit an 18-year low of $9.31 per share Thursday:
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