Pearson shares drop as Berenberg expects sale of Penguin Random House stake to hit earnings
Berenberg has reiterated a 'sell' rating on Pearson and cut its target price to 490p from 605p
Company
LON:PSON
Pearson is an international media company with market-leading businesses in education, business information and consumer publishing.
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Berenberg has reiterated a 'sell' rating on Pearson and cut its target price to 490p from 605p
Investments and investor services
The blue-chip index has traded sideways since about 8.30 this morning
Investments and investor services
The Footsie closed 87.17 higher, or 1.19% to 7,416...
Pearson's stake will be reduced from 47% to 25%. It plans to invest £300mln of the proceeds in a share buyback programme
The market chose to interpret Broadbent's comments as a vote for the status quo
Liberum Capital analyst Ian Whittaker pointed out that Pearson's profits “have gone backwards despite their previous £650m+ of cost savings"
The FTSE 100-listed group announced a strategic review of its K12 courseware publishing business and said it aims to cut its cost base by £300mln a year by the end of 2019
London's top tier index rose 22 points to 7,270.88 at 2.38pm after a better-than-expected US non-farm payrolls report
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Day ahead: Pearson PLC, International Consolidated Airlines Group PLC (LON:IAG), InterContinental Hotels Group PLC (LON:IHG), US jobs data ...
The FTSE 100 closed 15.52 down at 7,234 with Sainsbury's and mining shares under pressure
Don't panic! If your portfolio of blue-chips has taken a battering this morning, chances are its because of stocks going "ex-dividend". John Harrington explains.
The index of blue-chip shares succumbed to selling pressure
Half the brokers that cover Pearson are neutral on the stock, and a third are sellers.
The FTSE 100-listed firm, which has issued five profit warnings in four years, reported a statutory loss for the year of £2.335bn including an impairment of goodwill of £2.548bn.
London’s FTSE 100 ended lower on Friday, dragged lower by heavyweight loser RBS after it reported a ninth straight year of losses
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RBS has already had a big boost this week after the majority taxpayer-owned bank confirmed on Monday that it has shelved plans to sell its Williams & Glyn chain.
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The FTSE 100 ended flat on Monday as Unilever shares sank in the wake of Kraft Heinz saying it had abandoned its proposed merger which would have been one of the biggest in corporate history
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Housebuilders and banks will take centre stage with a slew of London-listed corporate earnings to be published.
Investments and investor services
FTSE 100 stocks pared gains into the Tuesday close after sterling recovered against the US dollar