Gannett Company's (GCI) is no longer pursuing an acquisition of Tronc (TRNC) , which owns The Los Angeles Times and Chicago Tribune. "Tronc is a very problematic company and the guy who runs it is on the wall of shame for Mad Money," says TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer, referencing his program on CNBC. "He walked away from a bid." Shares of Gannett rose 0.8% on Tuesday in midday trading. Tronc, which used to be known as Tribune Publishing Company, saw its stock plummet roughly 16%.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.