Pearson ADRs Fall After Warning of U.S. Weakness
September 26 2019 - 1:15PM
Dow Jones News
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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