For reasons that seem inexplicable, Gannett (GCI) shares rocketed up in midday trading to $4.62, a 23% increase. The company has not released any news.

Ariel Capital recently increased its stake in the company to 12.5% but that should have been factored into the increase in the stock last Thursday. And, Gannett opened down this morning

Obviously, someone thinks they have a handle on the firm’s first quarter report.

Douglas A. McIntyre