Scholastic Loses 9% On Decreased Outlook

Shares of Scholastic Corporation (SCHL), a publishing, education, and media company, are falling more than 9% Friday morning after lowering its full-year outlook.

Scholastic now expects full-year revenue to be level with or slightly below the prior year compared to the previous outlook of growth of 3% – 5%.

For the second quarter revenue declined to $562.6 million from $587.9 million last year.

SCHL, currently at $37.63, has traded in the range of $30.50 – $47.25 in the last 1 year.

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