Scholastic (SCHL) Volatilit Rises as Traders Sell 'Hunger Games' News, Outlook Boost
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Scholastic Corp. (Nasdaq: SCHL) shares are sinking lower Monday on increased volatility following the giant book seller raising estimates for fiscal 2012 on success of the Hunger Games novel and movie.
Implied volatility is up 11.6 percent from Friday's close to 38.7 percent. The level is about 106.4 percent of its historical average.
Earlier, Scholastic said its EPS outlook for FY12 moved from a range of $2.60 - $2.90 to expectations of exceeding $3.40 per share. The Street was modeling EPS of $2.65 for FY12.
Traders are selling the news today, shares off over 3 percent.
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Implied volatility is up 11.6 percent from Friday's close to 38.7 percent. The level is about 106.4 percent of its historical average.
Earlier, Scholastic said its EPS outlook for FY12 moved from a range of $2.60 - $2.90 to expectations of exceeding $3.40 per share. The Street was modeling EPS of $2.65 for FY12.
Traders are selling the news today, shares off over 3 percent.
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