The E.W. Scripps Co. is a diversified media company operating in three segments: newspapers, broadcast television and category television. For the 9 months ended 9/30/00, revenues increased 10% to $1.26B. Net income rose 15% to $115.2M. Revenues reflect rapid growth of the company%s cable television networks. Net income also reflects an increased gross profit due to programming and employee cost reductions.

January 14, 2001

The E. W. Scripps Company is a diversified media company operating in three segments: newspapers, broadcast television and category television. We are adding this company to our list of split candidates based on a couple of compelling factors. First, congratulations are in order as the stock hit a new 52-week high of $64.31 on Friday. Second, since the company has not split its stock before, we feel that they may elect to do so in the near future. The stock has advanced 50% since last February and we think that the BOD may like to reward investors with a split. Additionally, the split would lower the cost of the stock and thus make it more affordable for both individuals and mutual fund managers. At present the company has 78.7 million shares outstanding and 120 million shares authorized, so the BOD could announce a 3:2 without shareholder approval of more authorized shares. The new high that was achieved on Friday occurred on volume of 242,000 shares, which was 125% higher volume than the 3-month average of 107,000. We like breakouts on big volume like this and will now be watching for some follow through next week. If you are looking at SSP and considering opening a new position, the following are possible entry scenarios. First, watch for further advances on volume over the 107K level or a slight pull back to support at the 10-dma at $61.72, if followed by a bounce higher. Below the 10-dma, look for support at the 20-dma at $61.30 and finally the 50-dma at $59.85. Resistance will be the new high at $64.31 until it is breached We are placing our protective stop at $59.50.

Picked on January 14th @ $63.00
Change since picked 0.00
Stop loss @ $59.50

January 18, 2001

The E. W. Scripps Company is a diversified media company operating in three segments: newspapers, broadcast television and category television. The company is scheduled to report its earnings next Tuesday and has a track record of beating analysts’ estimates. Thursday, the stock finished lower on volume of 121,000 shares, which is 14,000 higher than the three-month average volume of 107,000. The stock now shows support at the 10-dma at $62.20, the 20-dma at $61.67 and then the 50-dma at $60.15. Resistance is marked at the 5-dma at $63.00 and the recent new high area at $64.00. This play is now very short term as far as we are concerned, but a new position might be considered if the stock bounces off support on intra-day volume exceeding 125,000 shares. An advance through resistance, or a new high on volume over 125,000, could also be a new play opportunity. We will keep our stop at $59.50. A reminder to all, we will exit this play before Tuesday's earnings announcement.

Picked on January 14th @ $63.00
Change since picked -0.56
Stop Loss at $59.50

January 16, 2000

The E. W. Scripps Company operates 21 daily newspapers and 10 broadcast television stations. On Tuesday, the company’s stock had a breakout day, closing at a new all-time high on better-than-average volume of 177,000 shares. The stock normally trades about 107,000 shares based on a three-month average. As for technicals, SSP has support at the 5-dma at $62.13 and the 50-dma at $59.50. Overhead, the stock has resistance at last week's high of $64.31. However, we consider this resistance to be weak given the strength of the MACD and On-Balance Volume. Possible entry points could be considered on a move through $64.31 on volume greater than 110,000. Look for support from the major indices when considering opening a new play. Today's strong gains in the Dow Jones Industrial Average (INDU) was a good example of index support. We'll keep our stop loss at $59.50 for now ahead of earnings on January 23.

Picked on January 14th @ $63.00
Change since picked +1.19
Stop Loss at $59.50