Aug. 27, 2013, 7:18 AM
Aug. 26, 2013, 2:17 PM
- Shares of Barnes & Noble (BKS +2.8%) trade higher after Barron's Andrew Barry writes that an annual dividend and/or buyback from the company seems likely in the coming year.
- It's not a price jump that impresses Paul La Monica as he tags the movement the "#StupidStock Move of the Day."
- The lift was just enough to get BKS back over $20 where it has met resistance.
Aug. 21, 2013, 2:12 PM
- Barnes & Noble's (BKS +1.3%) earnings call delved right into the issue of the company's disclosure it will stay one entity with two businesses.
- A frustrated Richard Schottenfeld from Coyote Capital notes B&N lost ~$1.5B from the Nook business since inception which "masks" the value of the bookstore business. He asked if the businesses will be integrated or if investors will continue to see Nook drag down results and the bookstore business trade at a discount. The answer from the company was vague and no specific guidance was given on Nook's burn rate of cash which leaves the issue a hot topic.
- Earnings call webcast
Aug. 20, 2013, 12:45 PM
- Midday top 10 gainers: NFEC +21%. PULS +18%. RNET +15%. XOMA +15%. COCO +13%. ELTK +14%. SCON +11%. PSUN +11%. CPSS +10%. AFFM.OB +7%.
- Midday top 10 Losers: LITB -34%. MKTY.PK -19%. PLCC -18%. ALVR -16%. BKS -15%. PURE.OB -14%. ANW -13%. NAII -13%. FMAR.OB -13%. CBAK -10%.
Aug. 20, 2013, 11:51 AM
- Barnes & Noble (BKS -15.9%) says it will work with Pearson (PSO -0.1%) on a digital education platform.
- A lot is made of the company's commitment to Nook with a new device due out for the holiday season, but questions on Nook's profit potential are likely to mount. Even backing out lower Nook sales and the quarter's tough comp shows negative digital content sales growth.
- B&N says it has short-term and long-term considerations as it looks for ways to increase shareholder value, including looking at offers. Reading between the tea leaves, it doesn't appear a spinoff plan for Nook Media is imminent.
- Earnings call webcast
Aug. 20, 2013, 9:11 AM
Aug. 20, 2013, 9:04 AM
- Barnes & Noble (BKS) segment revenue growth: Retail -9.9%; College +2.4%; Nook -39%.
- Core comparable bookstore sales (no Nook) fell 7.2% for the quarter off what the company believes was a tough comp (The Hunger Games, Fifty Shades of Grey).
- At Nook, lower device sales filtered down to hurt digital content sales as well, -15.8% Y/Y.
- B&N reaffirms previous guidance in which it expects retail comparable store sales to fall in the high single digits and college comparable store sales to decline at a low single digit pace. (PR)
- BKS -14.8% premarket to $14.20
Aug. 20, 2013, 8:51 AM
Aug. 20, 2013, 8:45 AM
Aug. 20, 2013, 12:05 AM
Aug. 19, 2013, 6:33 PM
- The long dispute that had reduced the number of Simon & Schuster titles appearing in Barnes & Noble (BKS) bookstores has been settled, WSJ reports.
- The bookstore chain and the publisher had been at odds over financial issues including which of them would bear the burden of e-book discounting and in-store promotional costs; details of the settlement are not provided.
- BKS +1.1% AH.
Aug. 19, 2013, 5:30 PM
Aug. 19, 2013, 11:25 AM
- Barnes & Noble (BKS -3.1%) slips in trading just a day before the company's earnings report.
- Analysts expect B&N to have lost $0.74 per share on revenue of $132B during its FQ1.
- The bull case: SA contributor Peter Larson thinks the company could use prior inventory write downs to help it beat estimates.
- The firm's Q&A with analysts will be highly-dissected to try to determine the direction the Nook business will take.
Aug. 14, 2013, 2:53 PM
- Chegg, the leader in the growing online textbook rental space, has filed for a $150M IPO under the symbol CHGG. (S-1)
- Chegg posted 1H revenue of $116.9M (+26% Y/Y), and a net loss of $21.2M. In 2012, the company had revenue of $213.3M, and a net loss of $43M.
- GSV Capital (GSVC +1.1%), which has been flying high thanks to Twitter IPO hopes and rising valuations for fast-growing Internet stocks, owns a Chegg stake estimated to be worth $14M at the end of Q2 (5.6% of the firm's NAV).
- Chegg has become a thorn in the side of Barnes & Noble (BKS -0.1%), whose college textbook business remains a cash-cow even as its standard retail and Nook ops fare poorly.
- The rise of e-book rental services could pose a threat to the company. Amazon and (more recently) Google have launched e-book rental services for textbooks. Apple, which has put much effort into growing the iPad's education market sales, doesn't offer a rental option yet for iBooks.
Aug. 2, 2013, 10:50 AM
- The DOJ wants Apple (AAPL +0.3%) to terminate its existing deals with five top book publishers, and to "refrain for five years from entering new e-book distribution contracts which would restrain Apple from competing on price."
- It also wants Apple to be "prohibited from again serving as a conduit of information among the conspiring publishers," and from entering into content deals that are likely to raise competitor content prices.
- In a positive for Amazon (AMZN -0.3%) and Barnes & Noble (BKS -0.1%), the DOJ also proposes Apple allow e-book rivals to "provide links from their e-book apps to their e-bookstores" for two years. Such a requirement would give Amazon and B&N a way to sell e-books on iDevices without giving Apple a 30% cut. Amazon has been trying to avoid paying Apple via its Kindle Web apps, but that's an imperfect workaround at best.
- Previous: U.S. district judge declares Apple guilty of e-book price-fixing.
Jul. 30, 2013, 8:15 AM
- The revelation by Barnes & Noble (BKS) that its books needed to be restated couldn't have come at a worse time, says Barclays.
- A potential buyout by Leonard Riggio could be on hold and Nook manufacturing partners could be unsettled by the development.
- Shares of BKS fell 4.6% yesterday and now stand at the mid-point of their 52-week high and low.
Barnes & Noble Inc is a booksellers and a content, commerce and technology company providing customers access to trade books, textbooks, magazines, newspapers and other content across its multi-channel distribution platform.
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