Why Scholastic (SCHL) Stock Is Up Today

Shares of educational publishing and media company Scholastic (NASDAQ:SCHL) jumped 4.4% in the afternoon session after it announced a definitive agreement to acquire Cottage Door Press for about $71 million. According to the company’s PR Newswire release, the purchase price is subject to customary adjustments and expands Scholastic’s position in the early childhood book market. Cottage Door is an independent children’s publisher focused on early childhood and novelty formats; Scholastic said the