Finally, Good News At Dow Jones

Profits and stock are up, but long-term prospects are murky

News flash: There's a glimmer of good news at Dow Jones & Co. On Apr. 12, not only did its flagship Wall Street Journal pocket two Pulitzer Prizes but the company also surprised investors with better-than-expected earnings for the quarter ended Mar. 31. The earnings sent Dow Jones stock up 11% over three days, and the timing couldn't be better for Chairman and CEO Peter R. Kann. At Dow Jones's Apr. 21 annual meeting, he must face shareholders who are painfully aware that the stock has underperformed the market bellwether named after it during the biggest runup in history.

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