The progress contained in earnings results released Friday evidently wasn't enough to satisfy investors, especially given management's hazy outlook. Gannett shares plunged more than 10 percent.
As the owner of USA Today and more than 80 other daily newspapers, Gannett serves as a publishing bellwether. The New York Times Co., Lee Enterprises Inc. and McClatchy Co. are among the other major newspaper publishers scheduled to report earnings during the next two weeks.
Feds: Test results from well not as good as hopedNEW ORLEANS (AP) â¿¿ Pressure readings have been less than ideal from the new cap shutting oil into BP's busted well, but the crude will remain locked in while engineers look for evidence of whether there is an undiscovered leak, the federal pointman for the disaster said Friday. Retired Coast Guard Adm. Thad Allen said on a conference call that pressure readings from the cap have not reached the level that would show there are no new leaks in the well. Allen said BP's test of the cap, which started 24 hours previously by shutting three valves and stopping the flow of oil into the water, would continue for at least 6 hours. It was scheduled to last up to 48 hours. ___ Dell: SEC staff to recommend accounting settlement ROUND ROCK, Texas (AP) â¿¿ Computer maker Dell Inc. said Friday it's getting closer to settling investigations by regulators into its accounting and the actions of CEO Michael Dell. The computer maker has proposed settlements to the staff of the Securities and Exchange Commission, which the staff will recommend to the commissioners, the company said. Dell has already set aside $100 million to cover the cost of settling charges that employees had misled auditors and manipulated results to meet performance targets. ___ Apple CEO on antenna problem: 'We aren't perfect'