Industry Stocks: February Performances
by Staff -- Publishers Weekly, 3/7/2005
Company
Jan 31
Feb 30
% Change
Winners
Reed International
36.66
40.85
11.4%
Reader's Digest
16.12
17.30
7.3
Pearson
11.74
12.37
5.4
Barnes & Noble
32.70
34.16
4.5
John Wiley & Sons
33.65
34.75
3.3
Losers
Audible
27.87
14.66
-47.4%
Leapfrog
13.25
10.50
-20.7
Advanced Marketing Svc.
9.25
7.35
-20.5
Amazon.com
43.22
35.18
-18.6
Hastings Ent.
8.25
7.30
-11.5
Publishers Weekly
Stock Index
577.41
561.43
-2.8%
Dow Jones Average
10,489.94
10,766.23
2.6%
The Publishers Weekly Stock Index fell 2.8% in February as the stock prices fell at 13 companies while rising at only nine. The biggest loser in the month was Audible, whose stock price plunged 47.4% in February following its announcement that earnings in 2005 would be well below investors' expectations. The company is now facing about six class-action lawsuits, although it denies any wrongdoing. Investors punished Leapfrog for its failure to meet earnings estimates for 2004, dropping the stock price by 20.7% last month. Investors were also less than impressed with Amazon's forecast for 2005. Reed, parent company of PW, had the biggest gain in February, with analysts encouraged by the publisher's bullish outlook for 2005. And analysts appear to be confident that the turnaround at Reader's Digest is for real, bidding up the stock for a second straight month.
Source: Reed Business Information
