Just as the Dow Jones Industrial Average pulled back in January following large gains in 2013, the Publishers Weekly Stock Index also got off to a slow start in 2014. Only two of the 14 companies on the PWSI had an increase in their stock price in January and the PWSI fell 8.6% in the month. The stock price of Chegg has fallen steadily since the online textbook rental company went public late last year and its shares posted the largest decline in January, falling 21.6%. High-flying Amazon, however, had the largest decline in terms of dollars with its shares losing just over $40 between the end of December and Jan. 31. In addition to the overall soft January market, Amazon’s stock priced declined after the company posted a slightly lower growth rate than analysts had expected in the fourth quarter, causing some investors to begin to worry that the e-commerce giant’s hyper-sales increases could be behind it.
Industry Stocks: January Performances
| Winners | |||
|---|---|---|---|
| Company | Dec. 31 | Jan. 31 | % Change |
| Educational Dev. Corp. | 3.07 | 3.58 | 16.6% |
| Houghton Mifflin Harcourt | 16.96 | 19.24 | 13.4 |
| Losers | |||
| Chegg | 8.51 | 6.67 | -21.6 |
| Pearson | 22.40 | 18.29 | -18.3 |
| News Corp | 18.02 | 15.61 | -13.4 |
| Amazon | 398.79 | 358.69 | -10.0 |
| Barnes & Noble | 14.95 | 13.48 | -9.8 |
| R.R. Donnelley | 20.28 | 18.47 | -8.9 |
| Publishers Weekly Stock Index | 678.28 | 619.92 | -8.6 |
| Dow Jones Aver. | 16,576.66 | 15,699.85 | -5.3 |
Source: publishers weekly
