Barnes and noble up on news that it may be providing a bookstore to new tablet!!!!!!

Discussion in 'Wall St. News' started by S2007S, Jan 26, 2010.

  1. S2007S


    Good old barnes and nobles, another company that will be closing up soon after books become a thing of the past just like newspapers and magazines, digital media will replace it once again. As you can see the kindle has been selling like hot cakes, these new devices able to pluck books from thin air will be the competition to barnes and noble and border books, both that will probably be closing hundreds of stores over the next 2-3 years. How this stock can jump on news alone that it might have a chance to team up with apple is funny, if that is the only thing that can prop it up off its 52 week low its time to sell shares all together. Looks like the Nook will be a thing of the past as well. Between BGP, BKS and BBI thousands of store fronts to close over the next 3 years.

    * JANUARY 26, 2010, 11:33 A.M. ET

    Barnes & Noble Rises On Rumors Of Bookstore On Apple's Tablet

    By Shara Tibken

    NEW YORK (Dow Jones)--Shares of Barnes & Noble Inc. (BKS) soared Tuesday on rumors it may be providing a bookstore for Apple Inc.'s (AAPL) new tablet computer.

    On Wednesday, Apple is expected to unveil a tablet computer, an as-yet-unnamed device with wireless Internet and a touchscreen that is seen bridging the gap between laptops and a growing array of handheld devices. The device also could alter the landscape of the electronic-book reader market, which is dominated by Inc.'s (AMZN) popular Kindle device. Barnes & Noble recently launched its own e-reader, the Nook, to compete with Amazon.

    TechCruch and various tech blogs said Tuesday that a Barnes & Noble device may be built into Apple's new tablet, either as an app on the device or integrated directly into the tablet's e-reader.

    Representatives from Barnes & Noble and Apple weren't immediately available to comment.

    Morgan Keegan analyst Tavis McCourt, who covers Apple, said it would make sense for Apple to partner with Barnes & Noble and other content providers.

    "If you look at what Apple did with the iPhone, they try to build some access to content directly into the mobile computer," McCourt said. "The fact they (might be) building a direct link to a content provider is not that surprising."

    In recent trading, Barnes & Noble shares jumped 14% to $19.89 on more than twice the normal daily volume. Over the past 12 months, shares have risen 11%. Apple rose 2.3% to $207.75 after reporting its fiscal first-quarter profit jumped 50% and topped Street expectations. Amazon gained $1.11 to $121.42.

    C.L. King analyst William Armstrong, who covers Barnes & Noble, said a partnership with Apple would be good for the company, though it "depends on what the deal is and what the specifics are."

    And it's uncertain what a collaboration with Apple would mean for Barnes & Noble's Nook.

    Barnes & Noble, the biggest brick-and-mortar book retailer, has suffered from declining sales as retail traffic dropped amid the economic downturn. Shoppers also have turned to online and discount booksellers. To help diversify, the company launched its Nook late last year.

    The Nook runs on Google Inc.'s (GOOG) Android operating system, and features an e-paper display from E-Ink Corp. for reading and a smaller color-touch screen for control and typing. Its wireless capacity enables users to download books from the retailer's online bookstore. Initial demand for the Nook surpassed Barnes & Noble's expectations, leading to some delays in the holiday season.

    Meanwhile, fellow book seller Borders Group Inc.'s (BGP) President and Chief Executive Ron Marshall resigned to become CEO of Great Atlantic & Pacific Tea Co. (GAP), according to The Wall Street Journal. The move comes a week after Borders posted a steep drop in revenue and same-store sales for the vital holiday period. Its shares tumbled 11% to 97 cents.
  2. They'll all be converted into taco shops, trading kiosks and Cash-4-Gold stores. No pro-blemmo. :cool:
  3. Between BGP, BKS thousands of store fronts to close over the next 3 years

    One of the few places to get away from the average American.:D