Industry Stocks: March Performances

After the stock prices of all 13 companies on the Publishers Weekly Stock Index rose in February, there was much more of a split verdict in March, when prices rose at seven companies but fell at six. As a result, the PWSI fell 0.6% in the month, compared to a 1.9% decline for the entire Dow Jones Industrial Average in the same period. Houghton Mifflin Harcourt’s share price had the largest gain in the month, up 18.7%, helped by a “buy” recommendation from the Stifel brokerage firm. Scholastic’s share price finished March up 10.6% and rebounded sharply following a one-day drop, after reporting that its third-quarter earnings failed to hit some analysts’ estimates. John Wiley’s stock price had the largest decline, falling 5.4%. Barnes & Noble’s stock price fell 4.6%, hurt by a third-quarter financial report in which earnings were below expectations. Also during the month, it was announced that Donnelley’s proposed acquisition of Courier had cleared antitrust regulators (both companies are listed in the PWSI). The deal is expected to be completed in the second quarter.