Meredith Corp Spiking Higher after Upping Guidance

Meredith Corporation MDP said today that it will record a special charge of approximately $10 million (approximately $6 million after-tax or $0.13 per share) in its fiscal 2011 fourth quarter. The charge includes closing the ReadyMade brand due to ongoing weakness in the home category/marketplace, and other selected workforce reductions – for a total of approximately 75 positions companywide. Read more here.