Refinancing News Pushes Stocks Up for Krispy Kreme
Krispy Kreme shares closed up 5 percent at $13.10 Wednesday after Marketwatch reported that the company may be ready to strike a new financing deal that could reduce its long–term interest rate to 5.5 percent.
A Prudential analyst said refinancing would be a sign that the troubled doughnut company is on firm financial footing if it can refinance and cut costs, Marketwatch reported. Financial problems at the Winston–Salem company have driven the stock to as low as $5 a share after soaring to $50 at its peak.
L.A. Times puts newspaper at fingertips all the time
LOS ANGELES —- The Los Angeles Times Media Group said Wednesday that it is reorganizing the newspaper’s newsroom into an around– the–clock operation with an emphasis on breaking news on its Web site and offering expanded coverage in its print edition.
“We are rebuilding our business to reflect how readers, users and advertisers are using media today,” said David Hiller, the publisher and CEO of the Times . “People choose different platforms and products to meet their varying news and information needs throughout the day, and we are positioning the Times to be there when they turn to us.”
The paper will focus on offering multimedia content on its Web site as stories unfold, as well as more personalized ways to get stories. One example is MyLatimes.com, which the Times launched Wednesday.
The site uses RSS feeds —- a technology for notifying users of new entries on their favorite news sites and blogs —- to deliver content directly to computer users.
In its print editions, the newspaper will emphasize editorial analysis, investigative reporting, trend stories and features. Reporters will report for both the Web and print editions.
“Our philosophy going forward is, Break it on the Web, expand on it in print,’ ” Times editor Jim O’Shea said.
Improving tech profits move Wall Street higher
NEW YORK —- Wall Street bounded higher Wednesday, lifting the Nasdaq composite index well over 1 percent after profit reports from Yahoo and Sun Microsystems restored investors’ confidence in the tech sector. The Dow Jones industrials logged fresh trading and closing highs.
Tech stocks have borne most of Wall Street’s concern about the health of corporate earnings. Restive investors, taking their cues from a flurry of profit reports, have been at turns pleased and concerned about the prospects that profit growth will help drive stocks higher after a sharp run–up in 2006.
—- Staff and Wire Reports
(c) 2007 Greensboro News Record. Provided by ProQuest Information and Learning. All rights Reserved.