New York Times Jumps 5.5% On High Volume (NYT)

Shares of The New York Times Company

are higher on the session by 5.50%, currently trading at $8.63. The stock is seeing huge volume as well with shares turning over 10.8 million times; that is 6.05x the 10-day daily average volume and 8.5% of the float. It is rumored that one of the company's largest shareholders, perhaps Harbinger Capital Partners or Mexican billionaire Carlos Slim, is active in the shares today. The New York Times Company is a diversified media company that includes newspapers, Internet businesses, investments in paper mills and other investments. The company is organized in two segments: News Media Group and the About Group.