Pearson drops most in 14 years after cutting profit forecast
Shares in the company saw their biggest drop since the September 11 terrorist attacks in 2001
Pearson fell the most since the September 11 terrorist attacks in 2001 after cutting its full-year profit forecast, citing a drop in US college enrolments and sales of fewer textbooks in countries including South Africa.
Shares of the company, which sold the Financial Times in July to focus on education, fell 14 per cent to 1,021 pence at 8:49 a.m. in London after declining as much as 15 per cent. The stock was little changed this year through Tuesday.
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