Image source: Pearson.
Shares of Pearson PLC (NYSE: PSO), a provider of educational courseware and services, tumbled on Wednesday after the company warned of disappointing fourth-quarter results. Preliminary guidance for 2017 was weak due to what the company called an “unprecedented” decline in its North American higher education courseware business. While the total dividends paid for 2016 will be in line with previous guidance, Pearson intends to lower its dividend in 2017. At 12:15 p.m. EST, the stock was down about 29%.