Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, August 8, 2014

Article Excerpt

GANNETT CO., INC., $33.61, New York symbol GCI, rose 2% this week after announcing that it would spin off its publishing operations as a separate firm. The new company will keep the Gannett name and publish its flagship newspaper, USAToday, as well as 81 U.S. daily newspapers and 17 papers in the U.K. It also has over 200 magazines and other publications. In the latest quarter, these operations supplied 59% of Gannett’s revenue and 20% of its earnings. The still-unnamed remaining company (41% of revenue and 80% of earnings) will focus on Gannett’s 46 TV stations as well as its numerous Internet sites. Combined, the two companies will pay a quarterly dividend of $0.20 a share, for a 2.4% annualized yield. That’s equal to Gannett’s current payout. The company also announced that it would acquire the 73% of the Cars.com website that it doesn’t already own. Cars.com lets users buy and sell new and used vehicles. The new broadcasting and Internet business will own…