Business

Mark on December 2nd, 2008

I have only a basic understanding of how stock markets work, so I’m looking for a resource that can help me figure them out a little better. There are a couple of specific questions nagging at me at the moment: 1. Do stocks normally open higher than the previous days close and why? 2. What’s […]

Continue reading about I need a little help here (updated twice)

Mark on November 28th, 2008

It’s been a while since I updated the story of CanWest’s stock troubles and now might be a good time: it appears as though it may have bottomed out. After hitting a new 52-week low of 61 cents a share on Tuesday, the stock rebounded through the rest of the week, closing at 73 cents […]

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Mark on November 19th, 2008

Something is happening with CanWest shares: the price just jumped 13 cents and the volume of shares being traded is almost three times as high as the average. CanWest closed at 72 cents a share yesterday. At the moment, it’s trading at 85 cents, a mark it has only hit once in the past five […]

Continue reading about Something’s up (updated)

Mark on November 14th, 2008

The Canadian media giant released its fourth-quarter results early this morning, and while the Globe and Mail headline reads “CanWest loses $1.02-billion,” most of that is a $1.01-billion non-cash writedown on goodwill and licences. I’m not even sure what that means. More interesting to me are the operating numbers. From the Globe: Excluding the writedown […]

Continue reading about CanWest’s quarterlies

Mark on November 13th, 2008

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 […]

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Mark on November 12th, 2008

At the start of the second hour of class today, I pointed my second-year journalists-to-be to the latest news on CanWest’s stock market woes: a piece that included an unnamed analyst suggesting that the media company was being forced to do something to control costs. By the end of the hour, there was this: Canwest […]

Continue reading about And now, from Canada, job cuts (updated)

Mark on November 11th, 2008

Some recent news from newspapers in the Great White North. No, we don’t face the same immediate challenges of the American newspaper, but Canadian newspaper watchers who think what ultimately happens here will be significantly different from what happens south of the 49th are, I think, deluding themselves. CanWest: After dropping about two-thirds of its […]

Continue reading about The news from Canada (updated)

Mark on October 26th, 2008

Tim Oren, a right-of-centre political blogger at Winds of Change, has a quite cogent report on the state of newspapers that we who love them hope doesn’t spread far. I was attracted to his piece by the headline: The newspaper crash of 2009 … and how you can help. In his post, he lays out […]

Continue reading about Yikes!

Mark on October 25th, 2008

My normal state is optimism when it comes to the future of journalism, which is why yesterday felt like a downer as a relentless stream of newspaper business news poured through my news reader. The big news was all bad: NYT Co. profits fall by 51.4 percent in Q3, Wage freeze at AH Belo, Star-Ledger […]

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Mark on October 24th, 2008

As CanWest’s stock continues to be pummeled, trading at 90 cents a share at the moment, down from yesterday’s close of $1.09 and down from the 52-week high of $8.28, some media is catching up. In yesterday’s post wondering where the business media is on this story, I pointed to this Reuters piece, but missed […]

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