'Sun-Times' Parent Stock Skids To New Low

Posted Friday, May 9, 2008 12:00 am

By: E&P Staff Wall Street got its first chance to react to the worse-than-expected first-quarter results from Sun-Times Media Group (STMG) Friday, and quickly punished shares with a 20% drop in price.

At noon, shares of STMG (NYSE: SVN) were trading at 41 cents, down 11 cents, or 20.78%.

The stock had traded in a 52-week range of 49 cents to $6.49.

After markets closed Thursday, STMG reported its first-quarter net loss widened to $35 $35.8 million or 44 cents per share from a Q1 2007 loss of $4.8 million or 6 cents per share in Q1 2007. Wednesday, the company reported it expected to be delisted from the New York Stock Exchange and was making arrangements to trade over the counter on the OTC Bulletin Board.

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'Sun-Times' Parent Stock Skids To New Low

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