Led by big gains for three companies, the Publishers Weekly Stock Index rose 12.2% in October. Educational Development Corp. had the biggest percentage increase in the month, with its stock-price jump of 29.9%. Its share price benefited from a quarterly report showing that, while sales had a small decline, profits jumped from the same quarter last year. Amazon’s share price rose 15% in the month. A strong quarterly report in which Amazon beat sales and earnings forecasts helped drive up its stock price, which added $143.93 in the month. Houghton Mifflin Harcourt, whose stock price jumped 18.1% in September, gave those gains back in October, with its share prices dropping 17.8%. After peaking at $12.20 on October 2, HMH’s share price declined steadily. The 12.2% increase in the PWSI easily beat the gain in the Dow Jones Industrial Average, which was up 4.3% in the month.
|Company||Sep. 29||Aug. 31||% Change|
|Educational Dev. Corp.||9.62||12.50||29.9%|
|Barnes & Noble||7.60||7.00||-7.9%|
|Houghton Mifflin Harcourt||12.50||9.90||-17.8%|
|Publishers Weekly Stock Index||1,177.62||1,321.85||12.2%|
|Dow Jones Aver.||22,405.09||23,377.24||4.3%|