Tuesday, April 22, 2008
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Gwinnett Daily Post
Triple Crown Media announces Nasdaq staff deficiency letter
LAWRENCEVILLE - On April 15, Triple Crown Media Inc. (Nasdaq: TCMI) received notification from The Nasdaq Stock Market that for the last 30 consecutive trading days TCMI's common stock has not maintained a minimum market value of publicly held shares of $15 million as required for continued inclusion by Marketplace Rule 4450(b)(3).
TCMI will be provided 90 calendar days, or until July 14 to regain compliance. If, at anytime before July 14, the market value of publicly held shares of TCMI's common stock is $15 million or more for 10 consecutive trading days, written notification will be sent stating that TCMI has achieved compliance with the Rule. If compliance with the Rule cannot be demonstrated by July 14, TCMI's securities will be delisted from The Nasdaq Global Market.
Stocks mixed after Bank of America profit falls short
NEW YORK - Wall Street had a mixed performance Monday as investors regained a cautious stance after disappointing news from Bank of America Corp. and Midwest bank National City Corp., and after another record-breaking tear in oil prices.
Investors were clearly uneasy about extending last week's big gains after Bank of America said its first-quarter earnings fell 77 percent on write-downs and widening credit losses. BofA's report followed a week in which big-name companies in general turned in better-than-expected numbers for the first quarter, helping the major stock indexes to gains of more than 4 percent.
Wall Street has at times worried that a slowing economy and a potentially hesitant consumer would crimp profits in the first three months of the year. Shares of National City dropped after the Midwest bank said it got a $7 billion cash infusion from equity investors, lowered its dividend and posted a $171 million loss for the first quarter.