By: Mark Fitzgerald
In a trading day of big winners and big losers, Lee Enterprises played the goat Monday with Wall Street hammering its stock down by more than 10% after news the community publisher took a loss in its second fiscal quarter.
Lee (NYSE: LEE) hit a new 52-week low, closing at $8.15, down 99 cents, or 10.83%. Volume in Lee was more than double the usual daily trading.
Another big loser on the day was A.H. Belo, the new newspaper pure-play company created when Belo split off its television properties. A.H. Belo (NYSE: AHC) warned Monday that its Q1 results would be lower than expected. It ended the day at $10.97, down $1.00, or 8.35%.
But just ahead of their annual meetings later this week, both The New York Times Co. and Media General were buoyed by Wall Street Monday.
New York Times Co. ((NYSE: NYT), which has made peace with the dissident shareholders who threatened a proxy battle, closed at $20.25, up $1.06, or 5.52%.
Richmond-based Media General, which has chosen to fight dissident shareholder group Harbinger Capital Partners, gained even more in percentage terms. Media General (NYSE: MEG) closed at $15.35, up $1.20, or 8.48%.
The Street shrugged off Gannett Co.’s disclosure Monday that its Q1 earnings fell 9%. Gannett (NYSE: GCI) ended trading at $28.30, up 32 cents, or 1.14%.