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BUZZ-Daily Mail: worst day in over 10 yrs on FY warning
May 26, 2016 / 7:16 AM / 2 years ago

BUZZ-Daily Mail: worst day in over 10 yrs on FY warning

** Daily Mail and General Trust -c.9%, on track for worst day since early 2006 & worst performer on Stoxx 600 media index after publisher of the Daily Mail newspaper cuts FY outlook

** Co says FY outlook will be adjusted for fall in guidance for oper margin in media business, now c.10% rather than 13% seen last year

** Says downturn in the print advertising market was squeezing margins in media unit

** Just under 1/3X 30-day avg vol through in less than 10 mins

** Up to Wednesday’s close, stock +c.6% YTD

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