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Gannett Shares Rise On Upgrade News

  • AP, Tuesday, December 15, 2009 10:34 PM
Gannett Co. shares climbed Monday after an analyst at The Benchmark Co. upgraded the stock, reports AP. Gannett shares rose 71 cents, or 5.4 percent, to $13.87. The analyst Edward Atorino also raised his rating to "Buy."

The upgrade was given after Gannett took measures to cut costs by restructuring newspaper operations. It consolidated its printing operations and cut full-time employees by 24% this year. The company also plans to centralize its advertising production in two centers by 2011.

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