Tronc shares slip after quarterly results following buyout-report rally [MarketWatch]
TRONC (TRNC)
Last tronc earnings: 11/1 04:30 pm
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Source: MarketWatch
Tronc shares slip after quarterly results following buyout-report rally Tronc Inc. TRNC, +1.92% shares slipped in the extended session Thursday following a run-up fueled by reports of a possible buyout after the media company reported quarterly results. Tronc shares slipped 0.5% after hours, following a 1.9% rise to close at $16.96 in the regular session. Shares have been on a rally since Wednesday after a report that a buyer was interested in Tronc followed up by another report on Thursday identifying the suitor as investment firm Donerail Group . The company reported a second-quarter loss from continuing operations of $15.1 million, or 44 cents a share, compared with $1.9 million, or 6 cents a share, in the year-ago period. The adjusted loss was 12 cents a share. Revenue rose to $253 million from $243.4 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of 35 cents a share on revenue of $239.5 million. Tronc estimates revenue of $1.02 billion to $1.
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