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Profile of the Week: Knight Ridder

Published on .

Knight Ridder stock hit a 52-week high July 19 despite an 8.4% drop in second-quarter revenue and a 32.3% drop in net income amid the sluggish advertising market. Other newspaper companies also reported slumping earnings: Gannett Co. (revenue up 12.4%, net income down 12.2%), New York Times Co. (revenue down 9.9%, net income down 30.7%), Tribune Co. (revenue up 2%, income down 10%) and Washington Post Co. (revenue up 2%, net income down 65%). The AdMarket had a split week, with 25 stocks up and 25 down.
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