New York Times Jumped the Most in the S&P 500

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New York Times Jumped the Most in the S&P 500

Published on Wednesday, 08 September 2010 17:15 Written by Danny Miller

nyt New York, September 8^th (Tradershuddle.com) – Shares of New York Times (NYSE:NYT) jumped the most in the S&P 500 after its shares rallied 7.99% to $8.38.

New York Times (NYSE:NYT), the newspaper publisher, gained on speculation that Mexican billionaire Carlos Slim was planning to acquire a bigger stake in the company.

Slim, who owns 6.9% of the Times' stock, loaned the company $250 million in January 2009. In the options front, investors moved to the stock's call options, which give the right to purchase shares at a fixed price up to a certain date, with the September and October $9 call strikes as the most popular contracts traded.

The move to the upside came with strong average volume; 6.1 million shares traded, 3.44 times Times’ average 90day volume of 1.77 million shares.

The stock's 52-week low is $7.06 and its 52-week high is $14.87.

UPDATE: Benchmark Raises PT on The New York Times Company to $8 - Benzinga
Benchmark Raises PT on New York Times Company to $8 - Benzinga
New York Times Highlights Print Media Problems - Benzinga
New York Times CEO Leaves Company at Crossroads - TheStreet.com
New York Times Company Stock Downgraded (NYT) - TheStreet.com
New York Times Warns of Ad Pressure - TheStreet.com
New York Times Stock Hits New 52-Week Low (NYT) - TheStreet.com

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