The company now sees earnings growth of 5% for 2011, down from a prior forecast for growth of 5-to-10%.

The stock was last quoted at $14.90, down 10.4%, on volume of more than 160,000, according to Year-to-date, the shares were already down 4%.


McGraw-Hill ( MHP) shares rose in late trades following a report that major shareholders plan to push the publishing company toward a reorganization.

According to The Wall Street Journal, hedge fund Jana Partners and the Ontario Teachers' Pension Plans want the company to separate its textbook operations from its Standard & Poor's ratings unit. The investors have increased their joint stake in McGraw-Hill to 5.2% of its outstanding stock, the WSJ article said.

The stock was up almost 6% to $43.80 on volume of around 60,000 in extended trading. The shares have risen nearly 15% so far this year.

-- Written by Michael Baron in New York.


Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

If you liked this article you might like

One of the Most Recognized Hedge Fund Managers Has Had a Terrible Year

Beleaguered Hedge Fund Titan Bill Ackman Is Having Another Rough Year

With Eyes on Solar Eclipse, Wall Street Stumbles Yet Again