The Publishers Weekly Stock Index, helped in part by solid gains in the overall market, rose 6.5% in October, slightly better than the 5.8% gain posted by the Dow Jones Industrial Average. Stock prices of 18 of the 21 companies listed on the PWSI increased in the month, with prices falling at only three firms. One publisher, Millbrook Press, was dropped from the PWSI after it deregistered its stock late in the month. Stock prices of bookstores did particularly well in October, with the share price of Borders, Barnes & Noble and Books-A-Million all increasing by double-digit amounts; Borders's stock price of $22.65 was a 52-week high. McGraw-Hill's stock price also closed out October at a 52-week high of $66.95. The biggest loser in the month was LeapFrog, whose stock price fell 9% as investors were worried about a slowdown in third-quarter sales.
Industry Stocks: October Performances
|Company||September 30||October 31||% Change|
|Barnes & Noble||25.41||29.80||17.3|
|Advanced Marketing Svc.||10.22||11.45||12.0|
|Educational Dev. Corp.||12.08||11.25||-6.9|
|Dow Jones Average||9,275.00||9,801.12||5.8%|
Source: Reed Business Information