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Stock Alert: Tegna Shares Slide

Tegna Inc. (TGNA) shares are declining in initial trading on Tuesday.

The company reported 47.8 percent fall in its fourth-quarter net income from continuing operations to $83.96 million from $160.82 million in the previous year, particularly reflecting higher operating expenses. On a per share basis, profit fell 48.6 percent $0.38 from $0.74 a year ago. On an adjusted basis, earnings were $103 million.

Revenue for the quarter, however, climbed 8.1 percent to $693.96 million from $642.14 million last year.

Shares opened at $17.46 on Tuesday and is currently down 2.22 percent at $16.94. For the 52-week period, TGNA has been trading in a range of $11.74 to $18.30.

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