Pearson ADRs Fall After Warning of U.S. Weakness

Date : 09/26/2019 @ 5:15PM
Source : Dow Jones News
Stock : Pearson Plc (PSO)
Quote : 7.49  -0.06 (-0.79%) @ 1:00AM
After Hours
Last Trade
Last $ 7.49 ◊ 0.00 (0.00%)

Pearson ADRs Fall After Warning of U.S. Weakness

Pearson (NYSE:PSO)
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   By Stephen Nakrosis 
 

The American depository receipts of Pearson PLC (PSO) are trading lower on the New York Stock Exchange Thursday after the maker of educational software said its third-quarter results could come in weaker than expected.

At 12:27 p.m. EDT, the company's ADRs had lost 14.34% to trade at $9.08. Volume was higher than usual with over 642,000 shares trading, above the 65-day average volume of 190,589.

Shares of the U.K. company fell earlier in the London market after it said revenue from a U.S. segment fell in the first nine months of the year, and warned revenue from U.S. higher-education courseware would decline by between 8% and 12% this year. Previous guidance called for a decline of no more than 5%.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

September 26, 2019 13:00 ET (17:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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