By: Jennifer Saba Banc of America Securities is another research firm that's expecting ho-hum Q2 results based on a note it released today. Last week, Goldman Sachs said it expected
tepid Q2 results, with "little if any surprises from newspaper publishers this quarter."
While still cautious on the sector, Banc of America Securities doesn't foresee any "incremental bad news to drive stocks lower in the near term."
That said, Banc of America is most down on the Chicago-based Tribune Co., which the research firm expects will post operating results below consensus because of "weakness across business segments." The research firm is most up on Dow Jones and expects growth in lineage and easier comparisons for the company during the second half of the year.
The note also included online stats for July:
Online job postings for newspaper Web sites are up across the board with a weighted average growth of 15%. The New York Times is up 36%, The Boston Globe is up 16%, The San Diego Union-Tribune is up 10%, the St. Louis Post-Dispatch is up 14%, and the New Haven Register is up 34%.
Online real estate postings for newspaper Web sites are mixed. The Times is up 17%, the Globe is up 48%, the Union-Tribune is up 49%, the Post-Dispatch is down 43%, and the Register is up 13%.
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