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Sep. 23, 2013, 6:57 PM
- Cubist Pharma (CBST) will join the S&P MidCap 400. The drug developer will replace Smithfield Foods, which is being acquired by China's Shuanghui International.
- SAI's Science Applications spinoff is also joining the MidCap 400, and will do so at the expense of Barnes & Noble (BKS), which is getting sent down to the S&P SmallCap 600. B&N will displace RadiSys (RSYS) in the index.
- SAI is being renamed Leidos Holdings, and will trade in the MidCap 400 under the symbol LDOS. Science Applications will trade under the symbol SAIC.
- Organic macaroni maker Annie's (BNNY) is taking Cubist's spot in the SmallCap 600.
- All changes take place after Thursday's close.
Sep. 12, 2013, 1:39 PM
- Barnes & Noble (BKS -1.4%) Chairman Leonard Riggio is easily re-elected but doesn't give investors much of an idea on where the company's digital strategy is heading.
- Things got a little testy during the open mike Q&A with investors when Leonard Riggio was asked why he didn't buy the company's retail stores. Riggio cut the inquiries short by saying he didn't have to explain his rationale.
- "Look, no one is happy with Nook," said Liberty Media's (LMCA) Gregory Maffei. His firm holds 17% of BKS, but his sentiment is probably echoed by a majority of shareholders.
Sep. 4, 2013, 9:21 AM
- Barnes & Noble (BKS) lowers prices in the U.K. on Nook devices.
- The company is linking the price cut to the Back to School season, but some skeptics think soft demand could be a factor.
Sep. 3, 2013, 10:04 AM
- Barnes & Noble (BKS +1.9%) plans to sell college newspapers through Nook devices.
- A quick scan shows over 220 newspapers are already available.
- It remains to be seen if a pay subscription model will work for the company in an atmosphere where most college weeklies are free.
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
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
- Barnes & Noble (BKS) says Leonard Riggio has ended his efforts to buy the company's retail business.
- Shares of BKS are off 11.9% in premarket action, despite reporting better-than-expected results for FQ1.
Aug. 20, 2013, 8:45 AM
- Barnes & Noble (BKS): FQ1 EPS of -$0.86 beats by $0.07.
- Revenue of $1.33B (-8.5% Y/Y) beats by $0.01B. (PR)
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
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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