Journal Sentinel Inc. will cut about 10 percent of the Milwaukee Journal Sentinel's 1,300 full-time employees due to the slump in ad sales affecting the entire newspaper industry.

Among the stock activity stories for Tuesday, July 1, from AP Financial News:

McClatchy Co. shares fell sharply after Deutsche Bank downgraded the company on concerns that higher newsprint costs and lower revenue expectations will hurt earnings.

Thirty-six stocks were added to the consumer discretionary sector of the Russell 2000 in this year's reconstitution of the small-cap index, while 50 were removed.

Nine companies in the consumer discretionary sector are being to be added to the Russell 1000 in this year's reconstitution of the large stock index, while 13 in the sector are being removed.

Even for an industry awash in bad news, the newspaper business went through one of its most severe retrenchments in recent memory last week.

An Indian company will take over copy editing duties for some stories published in The Orange County Register and will handle page layout for a community newspaper at the company that owns the Pulitzer Prize-winning daily, the newspaper confirmed Tuesday.

The story lines are unabashedly goofy. Cavemen invent the wheel to transport a beer cooler made of stone, and a car buyer enlists the help of a tribal warrior in case he needs some extra negotiating leverage at the dealership.