Stride Jumps On Report Pearson Wants To Buy It   By Investing.com

By Dhirendra Tripathi

Investing.com – Stride (NYSE:LRN) shares rose more than 6% Tuesday, helped by a StreetInsider report that said Pearson (NYSE:PSO) is preparing to make a takeover approach for the online learning company.

Pearson shares fell 1.5%.

Online learning, a growing business even before the Covid-19 breakout, saw runaway success in the pandemic-afflicted environment. As more children return to school, growth may be adjusting itself to more reasonable levels, but the direction of the business remains steady.

Bolstered by its earnings in the March quarter, Strides raised its guidance for the year. It said revenue will come in the range of $1.52 billion to $1.53 billion, up from previous guidance of $1.50 billion to $1.52 billion in January.