After The Bell Tuesday: Sector Rally Continues

Fitz: Newspaper stocks outpaced the barely rising Dow Tuesday as the sector extended its rally -- paced once more by the still-unexplained run-up in The McClatchy Co. (NYSE: MNI) shares.

Once more, trading was heavy in MNI with a volume about 25% above its recent normal. A look at the intraday chart shows several 20,000-share transactions spaced fairly regularly throughout the day.

MNI closed at $1.80, up 30 cents, or 20%. If MNI can grow or hold this level, it can avoid the delisting threat hanging over its peer, Lee Enterprises (NYSE: LEE).

LEE did nothing to help its case with NYSE Regulation Inc. It was the only Big Board loser on the day, ending off a penny at 42 cents.

Other once-shunned stocks rebounded Tuesday. A.H. Belo Co. (NYSE: AHC) shot up 29 cents, an 11.9% gain to $2.79. E.W. Scripps (NYSE: SSP), the other spin-off from its digital siblings that quickly fell from favor on the Street, was up 8.57%, on a 18-cent gain to $2.28.

The bigger-cap newspaper stocks also gained, though more modestly. The Street ignored The New York Times Co. (NYSE: NYT) nightmare scenario you posted, Jen, nudging the stock up a dime, or 1.32%, to $7.70. Gannett Co. Inc. (NYSE: GCI) was up 4.49%, on a 40-cent gain to $9.30. And The Washington Post (NYSE: WPO) stayed comfortably above the $400-a-share mark. WPO closed at $421.98, up $7.98 or 1.93%.