Wednesday, June 27, 2007

Shares are sliding

Tribune shares are falling well below the $34 deal price as analysts struggle to decipher the meaning of the drop. Dow Jones reports that shares of Tribune Co., have been steadily weakening in recent weeks. On Wednesday, the stock dropped another dime to $29.36 by midday. A month ago the stock was trading above $33. "It's very puzzling," said Ed Atorino, an analyst with The Benchmark Co. " There has been some very negative news that is off the mark."

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