New York Times (NYT) NewsBite - NYT Rises on Better-Than-Expected Earnings

Posted on Wednesday, July 23, 2008 11:22 AM

New York Times (NYT) opened at $13.05. So far today the stock has hit a low of $12.39 and a high of $13.39. NYT is now trading at $12.95, up 0.09 (0.70%). After hitting a one-year high of $23.85 last July, the stock hit a one-year low of $12.08 last week. NYT shares are rising this morning after the company posted a second-quarter profit of $21.1 million, or 15 cents per share. NYT's adjusted profit came in at 26 cents per share, beating analysts' estimates of 22 cents per share. Technical indicators for NYT are bearish and steady, while S&P gives the stock a bearish 2 Stars (out of 5) Sell rating. We will just watch this one for now. There are no bullish trades we like on NYT. [LHF- Seven Summits Strategic Investments NewsBite]