News / Business
Stock Alert : Barnes & Noble, Inc. (NYSE:BKS) stock up 25% on news of sale of company.
Stock Alert
Barnes & Noble, Inc.
(NYSE:BKS) shares are currently trading at $12.84 a weekly loss of $0.13
which is 1.00% down from last Tuesday’s closing price of $12.97. The company’s
shares have 52-week trading range of $11.89 - $28.78. The daily average volume
of the stock is 739,540 shares. The company has 50 day moving average of $15.26
and 200 day moving average of $18.74. The RSI of the stock is 42.86, showing an
oversold position of the stock. The sustenance and resistance levels of Nova
Measuring Instruments Ltd are $11.31 and $14.92. The
Market Capitalization of the company is $755.72 billion.
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The world's largest bookseller, Banes & Noble, yesterday announced
that its Board of Directors intends to evaluate strategic alternatives,
including a possible sale of the company, in order to increase stockholder
value. The business was suffering in the
high-stakes battle for a leading role in the digital books market.
The shares of the company jump by 25% in the pre-market session of trade
with good volumes. The market clearly is
expecting a better valuation for sale then the current market price. In regular
composite trading, the stock had dropped 33 percent this year.
The pressure on Barnes & Noble to realign its strategy became
clearer in June, when it reported a larger loss as it spent money to develop
its Nook electronic reader, which is outgunned in the market by Amazon's Kindle
and Apple's iPad. Sales at its book stores open at least a year had fallen 3.1
percent during its most recent quarter and the company gave a low sales outlook
for this year.
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Barnes & Noble, Inc. (NYSE: BKS), is the world's largest bookseller
and a Fortune 500 company, operates 720 bookstores in 50 states. Barnes & Noble College Booksellers, LLC,
a wholly-owned subsidiary of Barnes & Noble, also operates 637 college
bookstores serving nearly 4 million students and faculty members at colleges
and universities across the
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