Industry Stocks: March Performances
|February 28||March 30||% CHANGE|
|Advanced Marketing Services||20.95||23.40||11.7%|
|Franklin Elec. Pub.||5.50||3.00||-45.4%|
|Publishers Weekly Stock Index||410.20||390.01||-4.9%|
|Publishers Weekly Dow Jones Average||10,495.28||9,878.78||-5.9%|
Losers outnumbered winners 13 to nine on the Publishers Weekly Stock Index in March, leading to a 4.9% decline in the PWSI in the month. But as was the case in February, the fall in the PWSI was less than that of the Dow Jones Industrial Average, which fell 5.9%. The biggest winner in March was Hungry Minds, with investors apparently focusing on the news that the company may be acquired rather than on its dismal financial forecast. Advanced Marketing Service's stock had a good month, rising 11.7% to $23.49, only 10 cents off its 52-week high. Two companies closed at or near 52-week lows at the end of March as Franklin Electronic Publishers' stock price plunged 45.4%, to $3 and Reader's Digest stock fell 14.4% to $27.48. Among stocks trading below the PWSI's $4 cutoff level, MediaBay's share price fell 23.4% to close at 72 cents, while Hastings Entertainment stock rose nearly 25% to finish March at $2.66.
Source: Cahners Publishing