By: Jennifer Saba
The Wall Street Journal may be turning the corner.
According to Banc of America Securities, July lineage was up 5.8% per issue, beating the research firm’s estimate of 1%. July was the first positive lineage month since May 2004.
Technology is on the upswing — lineage grew 22% — posting its first positive month since December 2003. The increase came from consumer electronics, networking, and PCs, led by HP, Dell, and Cingular.
While technology is doing better, the financial sector is still soft, with lineage down 6.3%. Lineage for the general category decreased 9%. Classified lineage is up 5.3%.
Banc of America maintained its “buy” rating on Dow Jones.