Company June 30 July 31 % Change
The Publishers Weekly Stock Index fell 6.2% in July as the stock price of three companies plunged following weaker than expected earnings reports. The biggest loser was Amazon, as investors punished the e-tailer for delivering earnings that came up short of expectations due to heavy new investment. Banta's stock also tumbled due to a disappointing second quarter combined with a lower projection for the full year. The printer also announced plans for a major restructuring of its operations. Audible came close to hitting investors' targets, but its stock still took a major hit. Ironically, Scholastic and Borders, which have had their own issues hitting financial targets, were among the few winners in the month. In all, stock prices fell at 17 companies, while rising at only four.
SOURCE: Reed Business Information
McGraw-Hill Cos. 50.23 56.30 12.1%
Scholastic 25.97 28.75 10.7
Borders Group 18.46 19.01 3.0
CBS 27.01 27.38 1.3
Amazon 38.68 26.89 -30.5
Banta 46.33 35.33 -23.7
Audible 9.09 7.47 -17.8
Marvel 20.00 17.68 -11.6
Courier Corp. 40.02 35.76 -8.6
Publishers Weekly
Stock Index 484.00 453.96 -6.2%
Dow Jones Average 11,150.22 11,185.00 0.3