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Why Meredith Stock Just Jumped 15%

TheMotleyFool

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Shares of magazine publisher Meredith Corporation (NYSE: MDP) are flying off the shelves this morning -- up 14.8% as of 11:45 a.m. EST.

The publisher of such famed titles as People, Better Homes & Gardens, and Southern Living announced this morning that although its fiscal second-quarter 2020 pro-forma earnings from continuing operations were only $1.14 per share (Wall Street was looking for $1.67), sales came in ahead of expectations at $811 million (versus the Street consensus of $797.9 million).

Meredith's stock chart should look like this today. Why doesn't it? Image source: Getty Images.

Source Fool.com

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