While the Dow Jones Industrial Average rose 7.6% in the quarter ended September 30, the PW Stock Index fell 6.1%. Educational Development Corp. continued to be the star performer in the publishing space, with its stock price up 73.4%. The company has posted solid results since April, and for the quarter ended August 31, EDC estimated revenues would be up 140%–150% over the same quarter a year ago.

Barnes & Noble Education’s share price moved up 61.2% in an active quarter. In August, it said that, after reviewing the options, its board recommended that B&NE remain a standalone company rather than looking at other alternatives. In early September, it reported that results for the quarter ended August 1 fell due to widespread closures of its college bookstores during Covid-19 lockdowns. The company noted that it has seen growing use of its digital platforms.

The four companies that had declines in the third quarter were all involved in the educational market. Scholastic’s stock took the biggest hit, falling nearly 30%. Houghton Mifflin Harcourt had the lowest stock price among the companies on the PWSI, as it continued to struggle with the dual effects of the pandemic and the shift to digital learning. On October 1, the company announced it was cutting 525 jobs as part of an effort to reduce annual costs by $95 million–$100 million, a move that led to a 16% increase over the share price the day before.

This story has been updated to correct the change in B&N Education's stock price.