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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