Posted on 10/09/2006 5:29:25 PM PDT by Milhous
NEW YORK In what’s becoming a regular refrain, third quarter earning results are expected to be disappointing with few if any surprises, said a new report from Goldman Sachs.
Even after chopping estimates for five newspaper companies, analyst Peter Appert wrote, "we expect further downward pressure on estimates coming out of 3Q results." They forecast a 6% average year-over-year decline in the industry’s 3Q earnings per share.
The note waves off investors who might be attracted to the newspaper group’s low valuations and the financial restructuring of several companies. Goldman stamped the sector with an “underweight” rating.
Analysts loweredtheir estimate for Belo's quarterly revenue due to “anemic revenue performance at the company’s newspaper properties,” noting that August revenue fell at all three of Belo's newspapers.
Over at Dow Jones, while analysts point out there are signs that the company is in for a “turnaround,” the current valuation of 12.7 times EBITDA already accounts for any rebound. Furthermore, September was a weak month for The Wall Street Journal’s advertising results.
It’s anticipated that every division at Journal Communications, save for broadcasting, will report revenue declines. Newspaper revenue is estimated to drop 2%.
The jury is still out on McClatchy, which is trying to swallow Knight Ridder. “We expect further fine tuning of the McClatchy earnings model as the impact of the Knight Ridder acquisition and subsequent divestitures become more transparent following the release of the 3Q 10Q.”
E.W. Scripps is the only pick in the newspaper sector. “Scripps remains our favorite growth story with the diversified publishing space, with an evolving business mix driving impressive secular growth dynamics.”
ping
My heart bleeds peanut butter for them!!!!
LOL..someone else knows that expression...in my family we always said "My heart bleeds peanut butter and jelly for you..."
I don't hear it that often!
Good.
And the constant promotion of the Patron Saint of Illegals, Los Angeles Mayor Tony Villar-Ragosa. Today they had glowing reports of the Mayor working his butt off for us on his six week junket to Europe and Red China. The photo of the day shows the Mayor kissing a puppy. And that is no joke.
You reap what you sow.
Why Pinch didn't think of that sooner, I'll never know. Guy's asleep at the switch.
Daddy's not gonna like it.
Maybe Pinch can redeem himself by hiring a shoe editor?
Does your mutual fund own New York Times?
Here are the top 15 mutual funds, according to MSN Money Central, some have as much as 5% in NYTs
T. Rowe Price Equity-Income
Fidelity Equity-income Ii Fund
T Rowe Price Mid-cap Value Fund, Inc
Fidelity Value Fund
Fidelity Equity-income Fund
T Rowe Price Capital Appreciation Fund
Van Kampen Global Franchise Fund
Mfs Total Return Fund
Morgan Stanley Sicav - Global Brands Fund
Vanguard 500 Index Fund
Fidelity Puritan Fund
T Rowe Price Value Fund, Inc
Hartford Dividend And Growth Hls Fund
Vip Equity-income Portfolio
| Symbol | 13-week price change |
| Belo Corp 'A' (NYSE: BLC) | 0.06% |
| DOW Jones & Co (NYSE: DJ) | -5.72% |
| Daily Journal (NASDAQ: DJCO) | -7.62% |
| Gannett Co (NYSE: GCI) | -4.77% |
| Journal Register (NYSE: JRC) | -38.42% |
| Journal Commun (NYSE: JRN) | -5.47% |
| LEE Enterprises (NYSE: LEE) | -11.13% |
| Media General Cl'A' (NYSE: MEG) | -13.21% |
| Mcclatchy Co 'A' (NYSE: MNI) | 1.36% |
| News Corp Ltd Ads (NYSE: NWS) | -0.51% |
| NEW York Times Cl A (NYSE: NYT) | -10.56% |
| Scripps(E.W.)'A' (NYSE: SSP) | 7.43% |
| Tribune Co (NYSE: TRB) | -3.73% |
| Washington Post Cl B (NYSE: WPO) | -8.21% |
Great post! (and...what is with that GREEN there?)
"...I'm reaping what I sow..."
How do I find out if my mutual funds own NYT Stock, and what can I do if they do?
Here is something, we can all do today to start eliminating the NY Slimes as a threat to our nation's security. We can do it at our computers and do it in less than 1 hour. Besides sending a severe warning to the NY Slimes and the mutual fund companies, who buy NY Slimes stock, we will stop the fund company wasting our precious investment capital on NY Slimes stock.
If a few thousand freepers did this simple action this week and a few thousand new freepers, friends and relatives each following week, we will have a terminal impact on the NY Slimes acts of sedition. Please send this how to your blogs, friends, relatives and email lists. This action will serve as a cannon shot across the bows fo the other Dinosaur Liberal Fish Wraps re sedition will not be tolerated any more, and any mutual fund daring to buy their stock to support treason and sedition by the NY Slimes.
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Want to smash the NY Slimes?
How many of us own mutual funds which own NY Slimes stock and even worse have increased their NYT holdings this year. NYT investment by a mutual fund company is a terrible investment re the dollar loss in Stock value the last 2 years. Those investments are an attempt to keep the NY Slimes afloat with our mutual fund $'s. Now it is very evident that the NY Slimes is an agent and abettor of the al Qaeda Serial Killers. The Slimes is endangering the lives of our families, friends, innocent Americans and every warrior of ours. Go to this link to see if your mutual fund owns NYT. http://moneycentral.msn.com/investor/invsub/ownership/ownership.asp When the MS Money stock home page comes up, enter NYT into the search area and hit enter and the following screen will show up re ownership of the NY Slimes stock: The New York Times Company: Ownership Information
Highlight the Mutual Fund Ownership and hit enter. If thousands of Freepers, whose mutual funds own shares of NY Slimes did the following:
We might have a lot more impact selling/trading any mutual fund, which owns NYT, than trying to boycott companies which sell to the elite liberals of NYC and advertise in the NY Slimes. |
I don't have anything intelligent to add but thanks for the ping Milhous.
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