APN SHARES NAMED AS BEST BULLS FOR THE WEEK IN AUSTRALIA
December 23rd 2007 06:33
News Ltd’s Australian tabloid Sunday papers nominated APN News & Media at the top of its Best Bulls list for the week, showing its share price had risen by 8.3 percent during the week to $5.48 and noting that “investors found value in the stock at low price.”
At close of trading on Thursday December 13, APN shares had risen three cents to $5.18 and Fairfax Digital’s Trading Room listed it as a stock to watch, reporting, “Independent News & Media Plc, the parent company of APN News and Media Ltd, is set to post a 3 percent rise in 2007 revenue, the Irish newspaper publisher said in a trading update issued a week early in a bid to allay fears over the advertising market.”
As of October 5, 2007, APN had repurchased 4,625,545 shares for an aggregate value of $24.30 million, under the 45,311,779 shares repurchase plan announced on July 3, 2007.
APN News & Media Ltd operates as a multi media company in Australia, New Zealand, and Asia. The company publishes 23 daily and 100 non-daily newspapers. It also operates as radio broadcaster with 12 metropolitan radio stations in Australia and 120 radio stations in New Zealand. In addition, the company provides outdoor advertising services. APN News & Media is based in Sydney.
- From MediaBlab
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