Friday, July 17, 2009

McClatchy shares gain on Gannett’s good news

Shares of The McClatchy Co. soared 33 percent in heavier-than-average trading Wednesday, as investors were a bit more optimistic about the newspaper publishing industry.

The Sacramento-based company — publisher of 30 daily newspapers, including The Sacramento Bee — had one of its best days on Wall Street, at least based on percentage increase. The company’s stock improved 14 cents to 56 cents per share.

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