Nov
13
So, how did the market react to CanWest’s cost-cutting measures announced yesterday?
The media company’s stock opened at 85 cents a share (exactly where it closed Wednesday), hit a new low during the day of 75 cents, and closed at 80 cents, down 5.88 per cent for the day.
And share volume was well below the average of 414,600 at just a smidge under 200,000 shares.
CanWest reports fourth quarter results tomorrow, which might explain the lack of any bounce from the company’s plan to shed five per cent of its work force and make other cost-savings moves.
Tags: business, canada, CanWest, newspapers
